REG - Stelrad Group PLC - AGM Trading Update

StelradAnnouncement

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:20260520:nRST9730Ea&default-theme=true

RNS Number : 9730E  Stelrad Group PLC  20 May 2026

20 May 2026

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 ongoing subdued market demand impacting volumes, Stelrad's trading in
2026 to date is in line with management expectations and the Group's full year
outlook is unchanged from that given at the full year results on 13 March
2026.

 

Stelrad's financial performance in the year to date has benefitted from the
successful continuation of our commercial and operational initiatives which
have further enhanced profitability and offset market weakness.

 

The robustness of the Group's supply chain and inventory positions, alongside
management's experience, mean that Stelrad is well placed to manage challenges
that may arise due to the current events in the Middle East without disruption
to margins or the ability to continue to supply our customers.

 

Although we remain mindful of the potential impact of further macroeconomic
uncertainty on end market demand, our progress year to date, combined with our
competitive advantages of Stelrad's flexible, low-cost manufacturing
footprint, outstanding customer service and unmatched product availability,
underpin management's confidence in our full year expectations.

 

Whilst there remains a level of uncertainty around the timing of a wider
market recovery, we remain confident in the attractiveness of our markets,
underpinned by long-term structural growth drivers, and the opportunities that
a market recovery present for a stronger, more agile Stelrad.

 

Trevor Harvey, Chief Executive Officer of Stelrad, commented:

 

"Stelrad has made a positive start to the year and has traded in line with
expectations.  This performance is a testament to our competitive advantages
and the operational excellence initiatives the Group has undertaken in recent
years to enhance our contribution per radiator.

 

"We remain focused on ensuring that our operations are fully optimised and,
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 2026 on 7 August 2026 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 2024,
Stelrad extended its market leadership position, with 24.2% share by volume of
the European steel panel radiator market, excluding Russia and Belarus.  The
Group is now market leader in six countries - the UK, France, Belgium, the
Netherlands, Ireland and Denmark, with a top three position in a further 12
territories.

 

Stelrad is headquartered in Newcastle upon Tyne in the UK and in 2025 employed
1,300 people, with manufacturing and distribution facilities in Çorlu
(Turkey), Mexborough (UK), Moimacco (Italy) and Nuth (Netherlands), with a
further commercial and distribution operation in 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/) .

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  TSTEKLFFQELEBBQ



            Copyright 2019 Regulatory News Service, all rights reserved