REG - Stelrad Group PLC - £100m Facility Refinanced on Improved Terms

StelradAnnouncement

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RNS Number : 7280K  Stelrad Group PLC  09 December 2025

9 December 2025

Stelrad Group plc

("Stelrad" or "the Group")

 

Refinancing of £100 million multicurrency facility agreement at improved
terms

 

Stelrad Group plc ("Stelrad" or "the Group", LSE: SRAD), a leading specialist
manufacturer and distributor of steel panel and other designer radiators in
the UK, Europe and Turkey,  is pleased to announce the successful renewal of
the Group's multicurrency facility agreement ("Facility") which was due to
mature in November 2026.

 

The renewed £100 million Facility is for an initial three-year term, with an
extension option for two further years and is provided by our two existing
lenders, reflecting continued support for the Group's strategy.

 

The Facility is at improved terms and pricing and also incorporates an
accordion feature allowing the Group to increase the Facility by up to an
additional £20 million.

 

The Facility and the accordion facility (if exercised) provide the Group with
additional liquidity which will be used for working capital purposes and to
fund investment in accordance with the Group's capital allocation policy.

 

As previously stated, the Group's debt leverage ratio is expected to improve
further during the year supported by strong cash management (2024: 1.37x).

 

- ENDS -

 

For further information:

 

 Stelrad Group plc                                   +44 (0)191 261 3301

 Trevor Harvey, Chief Executive Officer

 Leigh Wilcox, Chief Financial Officer

 Investec (Joint Corporate Broker)                   +44 (0) 207 597 4000

 Ben Griffiths / David Anderson / Tom Brookhouse

 Singer Capital Markets (Joint Corporate Broker)     +44 (0) 20 7496 3000

 Graham Hertrich / Sara Hale / James Todd

 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.  The Group is market leader by volume in the combined UK,
European and Turkish steel panel radiator market, with market share of 19.3%.
Excluding the Russian market, Stelrad's share was 24.2% in 2024.  The Group
is market leader in six countries - the UK, Ireland, France, the Netherlands,
Belgium and Denmark, with a top 3 position in a further 12 territories in
2024.

 

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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