REG - Stelrad Group PLC - AGM Trading Update

StelradAnnouncement

21/05/2025 07:00

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RNS Number : 4680J  Stelrad Group PLC  21 May 2025

21 May 2025

Stelrad Group plc

("Stelrad" or "the Group")

 

AGM Trading Update

 

Stelrad Group plc ("Stelrad" or "the Group", LSE: SRAD), a leading specialist
manufacturer and distributor of steel panel and design radiators in the UK,
Europe and Turkey, is holding its Annual General Meeting today and will make
the following comments regarding current trading, financial performance and
the outlook for the financial year.

 

Despite the ongoing macroeconomic uncertainty, Stelrad's trading in 2025 to
date is in line with management expectations. The Group's full year outlook is
unchanged from that given in the full year results on 7 March 2025. Financial
performance so far this year reflects our proactive margin management and
ongoing cost discipline which are continuing to underpin profitability.

 

Although the steel market continues to face uncertainty globally, Stelrad's
supply arrangements remain stable. The risk of Stelrad's exposure to any
US-related steel tariffs is low, due to the radiator market's European
orientation and our diverse and longstanding supply relationships, all of
which are outside North America.

 

Overall, our progress year to date reinforces our confidence in Stelrad's
outlook for the full year thanks to our flexible, low-cost manufacturing
footprint, outstanding customer service and unmatched product availability.

 

This, alongside a significant installed radiator base and the long-term
structural growth drivers of premiumisation and decarbonisation, underpins the
Group's confidence in its future.

 

Trevor Harvey, Chief Executive Officer of Stelrad, commented:

 

"Stelrad has made a solid start to the year, with trading in line with
expectations. This performance, achieved against a challenging macroeconomic
background, is a testament to the strength and resilience of our operating
model and the depth of experience within our leadership team in navigating
complex market cycles.

 

With our strong market positions and structural tailwinds from
decarbonisation, we remain confident in our ability to deliver further
progress, drive market share gains, and provide long-term value for all
stakeholders."

 

Notice of interim results

 

Stelrad intends to announce its interim results for the six months ending 30
June 2025 on 8 August 2025 and will provide a further update on its progress
at this time.

 

- ENDS -

 

 

 

For further information:

 

 Stelrad Group plc                        +44 (0)191 261 3301

 Trevor Harvey, Chief Executive Officer

 Leigh Wilcox, Chief Financial Officer

 Sodali & Co                              stelrad@sodali.com (mailto:stelrad@sodali.com)

 James White / Pete Lambie                +44 (0)7855 432 699

 

Notes to Editors

Stelrad Group plc is Europe's leading specialist radiator manufacturer,
selling an extensive range of hydronic, hybrid, dual fuel and electrical heat
emitters to more than 500 customers in over 40 countries. These include
standard, premium and low surface temperature (LST) steel panel radiators,
towel warmers, decorative steel tubular, steel multicolumn and aluminium
radiators.

 

The Group has five core brands: Stelrad, Henrad, Termo Teknik, DL Radiators
and Hudevad.  In the data reported by BRG Building Solutions for 2023,
Stelrad extended its market leadership position, with 20.2% share by volume of
the combined UK, European and Turkish steel panel radiator market.  The Group
is now market leader in seven countries - the UK, Ireland, France, the
Netherlands, Belgium, Denmark and Greece, with a top 3 position in a further
11 territories.

 

Stelrad is headquartered in Newcastle upon Tyne in the UK and in 2024 employed
1,400 people, with manufacturing and distribution facilities in Çorlu
(Turkey), Mexborough (UK), Moimacco (Italy) and Nuth (Netherlands), with
further commercial and distribution operations in Kolding (Denmark) and Krakow
(Poland).

 

The Group's origins date back to the 1930s and Stelrad enjoys long established
commercial relationships with many of its customers, having served each of its
top five current customers for over twenty years.

 

Further information can be found at: https://stelradplc.com/
(https://stelradplc.com/) .

 

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