Wickes Group Plc · LSE:WIX
Wickes — H1 2026 Earnings Presentation
32 slides from Wickes's earnings presentation, Sep 15, 2026
Slide 1: 2026 Half Year Results
2026 Half Year Results 15 September 2026
Slide 2: Introduction
Introduction David Wood Chief Executive Officer
Slide 3: Agenda
Agenda Key Highlights 1 David Wood Page 4 Financial Review 2 Mark George Page 5 Business Update 3 David Wood Page 12 Summary, Q&A 4 David Wood & Mark George Page 19 3
Slide 4: Strong volume-led performance; remain on track for FY profits
Strong volume-led performance; remain on track for FY profits • Revenue growth in both parts of the business ○ Continued volume-led growth in Retail ○ Fifth consecutive quarter of positive LFL in D&I • Increased profits in spite of challenging market environment ○ Adj. PBT of £27.6m +1.1% ○ Sales grow
Slide 5: Financial Review
Financial Review Mark George Chief Financial Officer
Slide 6: A good first half across sales, profit and cash
A good first half across sales, profit and cash Revenue £865.3m HY cash £152m Adj.gross margin +2.1% broadly flat YoY (H1 2025: £158m) Interim dividend 3.7p Retail1 revenue +0.8% Adjusted PBT +2.8% Design & Installation2 £27.6m +1.1% £10m share buyback revenue +5.7% completed All figures are on an adjus
Slide 7: Strong volume-driven growth underpins good profit performance
Strong volume-driven growth underpins good profit performance £m1 HY 2025 HY 2026 Change % • Sales growth in both Retail and Revenue 847.9 865.3 2.1% Design & Installation Retail 634.4 639.8 0.8% Design & Installation Ranges 213.4 225.5 5.7% • Gross margin broadly flat whilst maintaining price leaders
Slide 8: Volume-driven revenue growth across the business
Volume-driven revenue growth across the business H1 2026 revenue growth Retail (Trade & DIY) Design & Installation • Strong volume growth, • 5th consecutive quarter of 5.7% offsetting 2.4% deflation LFL growth • TradePro sales +5% • Strong growth in Wickes Lifestyle Kitchens and • DIY sales broadly fl
Slide 9: Profit growth driven by sales volumes & productivity, enabling growth investment
Profit growth driven by sales volumes & productivity, enabling growth investment Revenue & trading margin • Trading margin growth ○ Sales increase in Retail and D&I • Inflationary pressures continue, notably in people costs and fuel • Productivity initiatives helping to offset inflation and will streng
Slide 10: Cash generation supports significant investment programme & shareholder returns
Cash generation supports significant investment programme & shareholder returns • £71m normal seasonal working capital benefit ○ Will unwind in H2 • Capex to be H2 weighted ○ 2026 guidance c.£40m5 • £9m net funding for employee share schemes3 • £26m shareholder returns ○ £16m paid in dividends ○ £10m
Slide 11: Outlook and guidance for 2026
Outlook and guidance for 2026 Outlook • Trading in Q3 so far has shown a significantly improved trend ○ Step-up in Retail to mid-single-digit LFL revenue growth • Productivity plan to deliver further in H2 • Benefit from lower business rates, as previously noted • On track to meet consensus expectatio
Slide 12: Business Update
Business Update David Wood Chief Executive Officer
Slide 13: Winning strategy based on balanced business model and proven growth levers
Winning strategy based on balanced business model and proven growth levers 13
Slide 14: Current market trends remain stable
Current market trends remain stable Local Trade Design & Installation DIY 1 in 2 consumers plan to Trade pipelines remain 1 in 5 planning new kitchen decorate a room this year1 healthy or bathroom projects c60% expect faster deliveries Around 30% of tradespeople Planned spend stable, whilst and will
Slide 15: More customers choosing Wickes, driving volume growth in Retail
More customers choosing Wickes, driving volume growth in Retail 1 • TradePro sales +5% on increased customer volumes ○ Growth in active members to 671,0001 • Category development driving market share gains YoY ○ Decor at all-time high, following category reset ○ Range development driving garden shar
Slide 16: Growing volumes across all segments of our D&I markets
Growing volumes across all segments of our D&I markets • Unique customer proposition Sandford Cloudy Blue ○ Only national retailer with ‘Good, Better, Best’ offering and installation service, in both kitchens and bathrooms ○ Range of styles, affordability, service and trust • Customers responding po
Slide 17: Investment in new stores and refits driving growth
Investment in new stores and refits driving growth • Refitted/refreshed 8 stores ○ c84% of estate now in current format ○ 8 refits / refreshes: Luton, Baguley, Doncaster, Hanger Lane, Hertford, Newbury, Dumfries, Loughton • Property plans for 2026 Dumfries - Before ○ 4 - 5 new stores ○ 12 refits / refre
Slide 18: 'Built to Last' Responsible Business strategy
‘Built to Last’ Responsible Business strategy Early careers Campaign to tackle Charity partner Recognition in ESG opportunities tool theft1 CALM ratings 30% of store colleagues 260k power tools protected Raised £1.3m towards Strong results in ESG aged 16-24 with free marking £2m target assessments 1
Slide 19: Distinctive business model underpins profit growth and cash generation through the cycle
Distinctive business model underpins profit growth and cash generation through the cycle 1. Highly differentiated business model ○ Continuing to win market share ○ Volume growth drives operational leverage 2. Scale of growth opportunity ○ 30% growth ambition for store estate ○ £35bn total addressable
Slide 20: Q&A
Q&A
Slide 21: Appendix
Appendix
Slide 22: Large UK markets with potential to grow share materially
Large UK markets with potential to grow share materially Retail Design & Installation Total Home Kitchens & Home energy3 £35bn Products improvement1 £19bn bathrooms2 £7bn £2bn £28bn Total Installation addressable – £4bn £3bn £7bn services market Total £19bn £11bn £5bn £35bn With c5% share of the £35
Slide 23: Strong foundations and performance leading us to accelerate our network rollout
Strong foundations and performance leading us to accelerate our network rollout Going further & Strong Proven ability to faster performance of operate existing & new successfully in Increased stores smaller footprint ambition to 300 stores stores 23
Slide 24: Encouraging performance of new store cohort
Encouraging performance of new store cohort Leamington Spa • Confidence from cohort of new stores ○ Stores performing well ○ 13 stores opened in 3.5 years1 • Revenue & margins maturing and on track to meet returns expectations ○ Target 25% ROCE in year 5 • Ongoing rollout ○ White space opportunities
Slide 25: Ability to operate successfully, with full range, in smaller footprint stores
Ability to operate successfully, with full range, in smaller footprint stores • Successfully trading with full Wickes format in smaller footprint stores Staines ○ Full customer proposition ○ Existing sites of this size performing well • Access to greater number of potential target locations ○ Catchm
Slide 26: Greater store growth opportunity
Greater store growth opportunity • Securing property pipeline, with rollout to accelerate from 2028 onwards 300 stores ○ Anchor tenant, very strong 5A1 covenant ○ Commercial negotiations, planning permissions, 250 stores construction • Access to smaller catchments enables new ambition for 300 stores
Slide 27: Increased growth investment, within established capital allocation framework
Increased growth investment, within established capital allocation framework • Opportunity for enhanced investment into the business ○ Going further & faster on proven new 1. Strong balance sheet 2. Investing in the business store rollout and refits/refreshes Net cash at all times Capex 2-3% of sales
Slide 28: A balanced business supporting three customer propositions
A balanced business supporting three customer propositions 28
Slide 29: Our 4C customer service model
Our 4C customer service model Order Fulfilment Orders picked and ready for collection or delivery Assisted Selling Support to find exactly what you need Design & Installation Space to dream and visualise Self Serve your project with expert help at Simple, quick and easy to hand shop 29
Slide 30: How we deliver our unique customer proposition
How we deliver our unique customer proposition 30 All data as at FY 2025
Slide 31: Sustainable competitive advantage driving investment returns
Sustainable competitive advantage driving investment returns 31 All data as at FY 2025
Slide 32: Disclaimer
Disclaimer This presentation has been prepared by Wickes Group Plc. This announcement may include statements that are, or may be deemed to be, "forward-looking statements" (including words such as "believe", "expect", "estimate", "intend", "anticipate" and words of similar meaning).To the extent it