REG - Spire Healthcare Grp - FY26 trading update to April and full-year outlook

Spire HealthcareAnnouncement

Today 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20260514:nRSN2402Ea&default-theme=true

RNS Number : 2402E  Spire Healthcare Group PLC  14 May 2026

This announcement contains inside information

Spire Healthcare Group plc

('Spire Healthcare', 'the Group' or 'the Company')

14 May 2026

Ahead of its Annual General Meeting later today, Spire Healthcare Group plc
(LSE: SPI), a leading independent healthcare group in the UK, provides an
update on trading for the period 1 January 2026 to 30 April 2026 and
reconfirms FY26 outlook.

FY26 trading update to April(1) and full-year outlook

Trading in the first four months of the year to April 2026 has been in line
with our expectations. Private patient revenue has continued to grow strongly,
particularly self-pay; with NHS revenue also as expected.

NHS commissioning plans reset in April 2026 with the start of the NHS 2026/27
financial year, covering Spire's Q2-Q4 FY26 and Q1 FY27. We have good
visibility of volumes, with more than 85% of commissioning agreed. Those
volumes are aligned with our previously communicated guidance for NHS activity
in FY26 and indicate strong growth for Spire in Q1 FY27, supported by the
lower base of activity in Q1 FY26.

In terms of efficiencies, the delivery of the FY26 £30m savings target
continues to progress well with the majority of initiatives underpinned.

Primary Care continues to trade well, with integrated referral activity
progressing positively.

Accordingly, we confirm the Group continues to target FY26 Group adjusted
EBITDA broadly in line with FY25.

Footnotes

1.   The trading update represents unaudited results for the four months
ended 30 April 2026.

 

The person responsible for making this announcement is: Mantraraj Budhdev,
Company Secretary.

For further information please contact:

 Spire Healthcare Group plc                                               +44 (0)80 0169 1777

 Amie Gramlick, Director of Commercial Finance & Investor Relations
 Brunswick (Communications adviser)                                       +44 (0)20 7404 5959

 Simon Sporborg / Ayesha Bharmal
 J.P. Morgan Cazenove (Financial adviser and joint corporate broker)      +44 (0)20 3493 8000

 James Mitford / Alia Malik / Nikhil Gondalia
 Berenberg (Joint corporate broker)                                       +44 (0)20 3207 7800

 Toby Flaux / Ben Wright / Detlir Elezi

 

 

Registered Office and Head Office:

Spire Healthcare Group plc

3 Dorset Rise

London

EC4Y 8EN

Registered number 09084066

 

About Spire

Spire Healthcare (https://www.spirehealthcare.com/)  is a
leading, independent healthcare group in the United
Kingdom, running 38 hospitals and over 60 clinics across
England, Wales and Scotland. Working in partnership with over
8,800 experienced consultants, Spire Healthcare delivered tailored,
personalised care to over 1.36 million inpatients, outpatients and
day case patients, and workplace health clients, in 2025. It is the
leading private provider, by volume, of knee
(https://www.spirehealthcare.com/treatments/bones-and-joints/knee-replacement/)
 and hip
(https://www.spirehealthcare.com/treatments/bones-and-joints/hip-replacement-surgery/)
 operations in the United Kingdom.

It operates a network of private GPs and provides workplace health
services to over 1,400 employers. It also delivers a range of private,
NHS and employer-funded mental health, musculoskeletal and dermatological
services, and is the largest independent provider of NHS talking therapies
in England.

Spire Healthcare's almost 100 well-located clinical sites deliver
award-winning care for self-pay patients, the NHS, employers and private
medical insurance ('PMI') providers. 98% of Spire Healthcare's
inspected locations are rated 'Good,' 'Outstanding', or the equivalent by
health inspectors in England, Wales and Scotland.

Spire Healthcare is listed on the London Stock Exchange and is a member of the
FTSE 250.

 

Cautionary statement

This announcement contains inside information.

This announcement contains certain forward-looking statements relating to the
business of Spire Healthcare Group plc (the "company") and its subsidiaries
(collectively, the "group"), including with respect to the progress, timing
and completion of the group's development, the group's ability to treat,
attract, and retain patients and customers, its ability to engage consultants
and GPs and to operate its business and increase referrals, the integration of
prior acquisitions, the group's estimates for future performance and its
estimates regarding anticipated operating results, future revenue, capital
requirements, shareholder structure and financing. In addition, even if the
group's actual results or development are consistent with the forward-looking
statements contained in this announcement, those results or developments may
not be indicative of the group's results or developments in the future. In
some cases, you can identify forward-looking statements by words such as
"could," "should," "may," "expects," "aims," "targets," "anticipates,"
"believes," "intends," "estimates," or similar words. These forward-looking
statements are based largely on the group's current expectations as of the
date of this announcement and are subject to a number of known and unknown
risks and uncertainties and other factors that may cause actual results,
performance or achievements to be materially different from any future
results, performance or achievement expressed or implied by these
forward-looking statements. In particular, the group's expectations could be
affected by, among other things, uncertainties involved in the integration of
acquisitions or new developments, changes in legislation or the regulatory
regime governing healthcare in the UK, poor performance by consultants who
practice at our facilities, unexpected regulatory actions or suspensions,
competition in general, the impact of global economic changes, risks arising
out of health crises and pandemics, changes in tax rates, future business
combinations or dispositions, and the group's ability to obtain or maintain
accreditation or approval for its facilities or service lines. In light of
these risks and uncertainties, there can be no assurance that the
forward-looking statements made in this announcement will in fact be realised
and no representation or warranty is given as to the completeness or accuracy
of the forward-looking statements contained in this announcement. The group is
providing the information in this announcement as of this date, and we
disclaim any intention or obligation to publicly update or revise any
forward-looking statements, whether as a result of new information, future
events or otherwise.

 

Important notices

J.P. Morgan Securities plc, which conducts its UK investment banking business
as J.P. Morgan Cazenove ("J.P. Morgan Cazenove"), is authorised in the United
Kingdom by the Prudential Regulation Authority (the "PRA") and regulated by
the PRA and the Financial Conduct Authority. J.P. Morgan Cazenove is acting as
financial adviser and corporate broker exclusively for Spire and no one else
in connection with the matters set out in this announcement and will not
regard any other person as its client in relation to the matters in this
announcement and will not be responsible to anyone other than Spire for
providing the protections afforded to clients of J.P. Morgan Cazenove or its
affiliates, nor for providing advice in relation to any matter referred to
herein

Joh. Berenberg, Gossler & Co. KG, London Branch ("Berenberg"), which is
authorised and regulated by the German Federal Financial Supervisory Authority
and is authorised and regulated by the FCA in the United Kingdom, is acting
exclusively for Spire Healthcare and no one else in connection with the
matters set out in this announcement and will not be responsible to anyone
other than Spire Healthcare for providing the protections afforded to clients
of Berenberg, or for providing advice in connection with any matter referred
to herein.

A copy of this announcement is available at
https://investors.spirehealthcare.com/
(https://investors.spirehealthcare.com/)

 

 

Appendix 1 - the 2026 Profit Forecast

In the Company's Trading Update released on 3 December 2025, Spire Healthcare
stated that in respect of the financial year to 31 December 2026, it expected
"FY26 Group adjusted EBITDA to be broadly in line or slightly ahead of 2025".

In the Company's preliminary results released on 5 March 2026, the Company
provided incremental disclosure where it has stated that "We are targeting
FY26 EBITDA broadly in line with FY25 EBITDA".

Today Spire Healthcare has repeated the above statement as set out above in
this announcement where it has stated that "the Group continues to target FY26
Group adjusted EBITDA broadly in line with FY25".

The Panel on Takeovers and Mergers has confirmed that the statements set out
above (the "2026 Profit Forecast") constitute a profit forecast for the
purposes of Rule 28.1 of the Code, to which the requirements of Rule
28.1(c)(i) of the Code apply.

Directors' confirmation in respect of the 2026 Profit Forecast

The Spire Healthcare Directors have considered the 2026 Profit Forecast and
confirm that, as at the date of this announcement, the 2026 Profit Forecast
remains valid and confirm that it has been properly compiled on the basis of
the assumptions stated below and that the basis of accounting used is
consistent with Spire Healthcare's accounting policies. Any of the assumptions
set out below could turn out to be incorrect and therefore affect the validity
of the 2026 Profit Forecast.

Basis of Preparation and Assumptions

The 2026 Profit Forecast was prepared on the basis of the following
assumptions, any of which could turn out to be incorrect and therefore affect
the validity of the 2026 Profit Forecast:

Factors outside the influence or control of the Spire Healthcare Directors:

 i.                  No material change in the political, economic and/or market environment that
                     would materially affect Spire Healthcare.
 ii.                 There will be no material changes in market conditions over the period to 31
                     December 2026 in relation to either patient demand or competitive environment.
 iii.                No significant or one-off events or litigation that would have a material
                     impact on the operating results or financial position of Spire Healthcare.
 iv.                 No adverse changes to inflation or interest or tax rates compared with Spire
                     Healthcare's budgeted estimates.
 v.                  No material adverse events which will have a significant impact on the
                     operating results or financial position of Spire Healthcare.
 vi.                 No material adverse outcome from any ongoing or future disputes with any
                     patients, suppliers, competitor, regulator or tax authority.
 vii.                No material change in legislation, taxation, regulatory requirements,
                     applicable standards or the position of any regulatory bodies impacting Spire
                     Healthcare's operations or accounting policies.
 viii.               No material changes to NHS contracting arrangements, and specifically referral
                     patterns or ICS level policy shifts.
 ix.                 No material changes to PMI insurer rates, or contract terms.
 x.                  No material change in government policy or approach impacting consumer
                     preference for private care, or the cost of delivery of that care.

 

Factors within the influence and control of the Spire Healthcare Directors:

 i.                  No additional significant acquisitions, disposals, developments, partnership
                     or joint venture agreements being entered into by Spire Healthcare which could
                     have a materially dilutive effect on Spire Healthcare's earnings.
 ii.                 No material change in the dividend or capital policies.
 iii.                No material changes to the Spire Healthcare's management team.
 iv.                 No material changes to Spire Healthcare's strategy.
 v.                  Spire Healthcare's accounting policies will be consistently applied in the
                     period ending 31 December 2026

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  TSTAJMMTMTMBTPF



            Copyright 2019 Regulatory News Service, all rights reserved