SIG PLC
16 July 2026
This announcement contains inside information as defined in UK MAR. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
16 July 2026
SIG plc
Post-close Trading Update
SIG plc ("SIG", or "the Group"), a leading supplier of specialist insulation and building products across Europe, issues a trading update for 1 January 2026 to 30 June 2026 (the "first half").
Group like-for-like ("LFL")1 sales declined in the first half (-1.5%) versus the prior year due to continuing challenging conditions in our major markets, which were exacerbated by poor weather conditions at the start of the year. The Group's performance improved in Q2 (LFL +1%) following a particularly weak Q1 (LFL -5%) with first half underlying2 operating profit anticipated to be c. £10m (H1 2025 £15m). Net debt at 30 June 2026 was £532m (including leases) with liquidity remaining strong at £154m despite a targeted inventory build ahead of raw material price increases.
Whilst trading in the first half improved sequentially, no material recovery in market conditions in H2 2026 is anticipated and, therefore, the Board now expects the FY 2026 underlying operating profit to be c. £25m. Liquidity levels are expected to remain healthy going forward and will benefit from the stronger seasonal cash generation profile in the second half.
The Group has developed an improvement plan assuming no market recovery in H2 2026 and FY 2027. The plan aims to generate cash of at least £100m, through a combination of business simplification, disposals, business improvement and working capital optimisation. It is also targeting an annualised operating profit run rate improvement of £50m by H1 2028. Further details of the plan will be shared with the H1 2026 results on 4 August 2026.
1. Like-for-like is defined as sales per working day in constant currency, excluding completed acquisitions and disposals, and adjusted to exclude the net impact of branch closures and openings.
2. Underlying represents the results before Other items. Other items relate to the amortisation of acquired intangibles, impairment charges, net restructuring costs, cloud-based ERP implementation costs, costs associated with refinancing and other specific items.
Contacts
|
SIG plc |
|
+44 (0) 114 285 6300 / ir@sigplc.com |
|
Pim Vervaat Simon Kesterton |
Chief Executive Officer Chief Financial Officer |
|
|
FTI Consulting |
|
+44 (0) 20 3727 1340 |
|
Richard Mountain / Vicky Hayns |
||
The person responsible for arranging the release of this announcement on behalf of the Company is Simon Kesterton, Chief Financial Officer.
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 or visit 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.
ENDRNS 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.