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Annual Resultsto 30 June 2026Resilient performance, positive start to FY27Vijay Thakrar, Interim Executive ChairSimon Dray, Chief Financial Officer
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Contents01Introducing Alumasc02FY26 Highlights & Overview03Financial Review04Business Review05Strategic Delivery06Outlook07Appendices2Alumasc Roofing – Derbigum Mineral & Alumasc BluRoof – Lightbody Street, Liverpool
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Introducing AlumascVijay Thakrar, Interim Executive Chair Alumasc Water Management SolutionsRainscreen Cladding System
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Who We Are: Our Divisions The Alumasc Group plc4 Building EnvelopeWater ManagementHousebuilding ProductsClimate change resilience through water and stormwater management in the built environmentProducts:• Rainwater management (metal gutters/downpipes)• Architectural aluminium• Building and surface water drainage• Access covers Building decarbonisation/greening/ climate resilience through premium weatherproofing/insulation solutions,including blue, green and bio-solarroofs and carbon-absorbingmembranesProducts:• Modular flat and flat-to-pitched roofs• Roof safety products• Blue roofs• Green roofs• Bio-solar roofs Building decarbonisation through products focused on improving air-tightness and managing ventilationProducts:• Broad range of products used in housebuilding, from ground level to roof ridge Building Products for a Sustainable Future
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Sustainability driving further growth The Alumasc Group plc5 Market Leadership: sustainable solutions for the built environment, focused on•Reducing carbon footprint•Efficient management of rain and storm water•Providing biodiverse green spaces>80% of products aligned with strategic growth marketsHigh quality, durable products•Lower maintenance•Longer lifespan•Reduced whole-life costResource and energy efficient materials•39% recycled at point of use•84% fully recyclable at end of lifeHelping customers deliver on their sustainability objectives•34% of revenue covered by EPDs Building Decarbonisation Urban Biodiversity/ Occupant Wellbeing Climate ResilienceLong-Term Sustainability Growth Drivers The Alumasc Group plc
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FY26 Highlights & OverviewVijay Thakrar, Interim Executive Chair Alumasc Water Management SolutionsGatic UltraSlot and Gatic Access Covers Moin Container Terminal, Costa Rica
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FY26 highlightsResilient performance against a challenging market backdrop The Alumasc Group plc7 Revenue £107.1m (FY25: £113.4m)•Housebuilding Products: standout performance; revenue +16% vs FY25•Building Envelope resilient: revenue level with record FY25•Water Management: 4% down vs FY25 excluding CLK Airport project revenues; 16% decline including CLK Underlying PBT* £10.0m (FY25: £14.2m)Operating cash conversion >100%, despite incremental short-term working capital investmentPension fund surplus increased to £5.9m (June 25: £4.8m)Bank facilities renewed to 2029 (extendable to 2031)•Facility increased by £5m to £30m; £20m accordion•Borrowing costs reduced by 20bpsProposed final dividend 7.6p (FY25: 7.6p) per share, full year dividend maintained at 11.1p* A reconciliation of underlying to statutory profit measures is shown in the appendix
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FY26 highlightsDelivery of strategic priorities driving continued market outperformance The Alumasc Group plc8 Continued execution of strategic and commercial priorities•Management action underway in Water Management division to grow volume and margin•Investment to increase capacity and capability in Housebuilding Products•Acquisition pipeline continues to be developed; disciplined approachLeadership changes•Pamela Bingham’s appointment terminated on 28 August 2026, after independent investigation•Vijay Thakrar appointed Interim Executive Chair, supported by experienced Executive and management teamsConfident outlook for FY27•June 2026 order book 49% ahead of prior year•5% year-on-year revenue growth in first two months of FY27, order intake remains strong•First deliveries to Changi Airport project later in H1 FY27
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Housebuilding ProductsWaterManagement Strong and experienced Executive Team The Alumasc Group plc 9 Vijay ThakrarInterim Executive Chair (joined 2019)Simon DrayChief Financial Officer (joined 2021)Gilbert JacksonDirector/DMD (joined 2011)Alumasc RoofingCovers & Drainage(Gatic/Wade)Michael LeafDirector/DMD (joined 2011)Rainwater Products(AWMS/ARP/ Rainclear)Timloc Reorganised to provide continuity and leadership•Vijay Thakrar: assuming executive responsibility as Interim Executive Chair•Gilbert Jackson: DMD Building Envelope, also assuming responsibility for Water Management: Covers & Drainage•Michael Leaf: DMD Housebuilding Products, also assuming responsibility for Water Management: Rainwater ProductsWater Management team strengthened by recent MD hires:•Covers & Drainage (joined Dec 2025)•Rainwater Products (joined Sep 2026)Building Envelope
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Navigating a challenging UK construction market The Alumasc Group plc 10 UK construction output growthCPA Summer 2026 forecast, all workConstruction markets subdued•2026 forecast general market decline of 3.3%*•Geopolitical/macroeconomic uncertainty•Affordability concerns•Private housing starts fell by 12% in 2026*Stability and affordability key to recoveryAlumasc’s structural growth drivers remain strong•Future Homes Standard 2025•Biodiversity net gain 2024•Building Efficiency Standards•SuDS requirements•TCFD and Climate Risk Disclosure•AMP8 Water Investment cycle 2025-2028•Social and Affordable Homes Programme 2026-2036 -4.0%-2.0%0.0%2.0%4.0%2024A 2025A 2026E 2027F 2028P -40.0%-20.0%0.0%20.0%2024A 2025A 2026E 2027F 2028PUK private housing startsCPA Summer 2026 forecast *CPA Summer 2026 forecast
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Financial ReviewSimon Dray, Chief Financial Officer
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Income statement summaryYear ended 30 June 2026 The Alumasc Group plc12 Change%FY25£mFY26£m(5.6)%113.4107.1Revenue43.037.9%(27.4)39.036.4%(27.8)Gross profitGross profit margin %Sales, general & administration overheads(27.9)%15.611.2Underlying operating profit*13.7%(1.4)10.5%(1.2)Underlying operating margin %Net finance costs(29.6)%14.210.0Underlying PBT*(3.4)(2.6)Underlying tax charge10.87.4Underlying PAT*(1.5)(0.1)Non-underlying items (after tax)9.37.3PAT (31.4)%(21.6)%-%29.9p25.9p11.1p20.5p20.3p11.1pUnderlying EPS (p)Basic EPS (p)Dividend per share (p) Revenue £107m (FY25: £113m)•6% decline; broadly flat excluding CLK contribution•UK revenue down 2%•Overseas revenue excluding CLK 36% ahead (including CLK, down 32%Gross margin 36.4% (FY25: 37.9%)•Driven by lower volumes and mixUnderlying operating margin 10.5% (FY25: 13.7%)•Impact of operational gearing and mixNon-underlying costs £0.1m (FY25: £1.5m) after taxFull year dividend per share 11.1p (FY25: 11.1p)•Covered 1.9x by underlying earnings•Profit recovery to restore cover to 2.5-3.0x range*A reconciliation of underlying to statutory profit measures is shown in the appendix
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Income statement bridgeYear ended 30 June 2026 The Alumasc Group plc13 Cost increases mitigated by sales priceVolume decline £8.1m (CLK £6.8m); 44% drop-through to profitAdverse mix impact partially mitigated by cost efficiencies *A reconciliation of underlying to statutory profit measures is shown in the appendix
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Cashflow statement summaryYear ended 30 June 2026 The Alumasc Group plc14 Change£mFY25£mFY26£m(3.8)19.715.9EBITDA from continuing operations*(1.7)0.4(1.9)(1.2)(3.6)(0.8)Change in working capitalPension deficit funding(5.1)16.611.5Cash generated by underlying operating activities-0.10.1(0.2)1.8106%(2.6)(1.3)(2.6)(1.6)(1.9)103%(2.6)(1.2)(2.5)(1.8)(0.1)Cash conversionCapital expenditureInterestTaxLease principal repaidNon-underlying/other cash flows(3.3)6.63.3Free cash flow0.70.1(0.1)(0.7)(0.5)(3.9)-(0.4)(4.0)Acquisition of businessesPurchase of own sharesDividends(2.6)1.5(1.1)Movement in net bank debt(5.8)(6.9)Net bank debt at year end15.7%19.2%Average trade working capital % sales Operating cash conversion** 103% (FY25: 106%)•£3.6m outflow into working capital•Inventory investment to mitigate Middle East conflict-related issues•Average trade working capital 19.2% (FY25: 15.7%) of revenue•Pension deficit funding of £0.8m (FY25: £1.2m)Continuing to invest for future growth•Capital expenditure £2.6m (FY25: £2.6m)•Manufacturing capacity/NPD at sites in Goole (Housebuilding Products) and Halstead (Water Management)Net bank debt £6.9m (FY25: £5.8m)* EBITDA: Underlying operating profit before share-based payment charges, interest tax, depreciation and amortisation** Cash conversion: cash generated by underlying operating activities as a percentage of underlying operating profit
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Balance sheet summaryat 30 June 2026 The Alumasc Group plc15 Change£mFY25£mFY26£m0.7(0.6)3.8(0.2)22.618.713.8(5.0)23.318.117.6(5.2)Property, plant & equipmentIntangible assetsWorking capitalOther net liabilities3.750.153.8Capital invested(1.1)(0.7)0.8(5.8)(6.9)3.6(6.9)(7.6)4.4Net debt bankNet debt leasePension obligations (net of tax)2.741.043.7Net assets24.3%16.0%ROI – continuing operations (post tax)** Underlying post-tax operating profit divided by average capital invested for the previous 12 months Returns continuing to generate shareholder value•ROI 16% vs WACC c.13%Significant capacity for investment•June 2026 EBITDA leverage 0.5x (June 25: 0.35x)Bank facility renewed on 1 September 2026•Initial 3-year term to August 2029, extendable to August 2031•Committed facility increased by £5m to £30m•Uncommitted £20m accordion facility•Borrowing margin reduced by 20bpsContinued pension de-risking•£5.9m pre-tax IAS 19 surplus (FY25: £4.8m)•Contributions reduced to £0.7m from September 2025•Further de-risking actions will be taken when appropriate
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Business ReviewSimon Dray, Chief Financial Officer Alumasc RoofingDerbigum – Grove Wood Primary School, Essex
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Water Management 17The Alumasc Group plc FY25FY26Continuing operations55.58.014.5%6.146.63.37.0%2.5Revenue (£m)Underlying* operating profit (£m)Underlying* operating margin (%)Operating profit (£m)Disappointing performance in challenging market conditions•Revenue declined £8.9m•£6.8m lower revenue from CLK Airport project•UK revenues declined 6%, partially offset by non-CLK export growthMargins impacted by lower volumesActions underway to improve operational efficiency and customer service•£1.3m of annualised cost reductions in year (c.£0.9m benefit in FY27)•Enquiry-to-order & lead time optimisation•Supply chain rationalisation•Optimised manufacturing across Rainwater Goods sitesStrong and growing order book and pipeline•August 2026 divisional order book 68% higher than August 2025•First call-offs received from significant Changi Airport projectAlumasc Water Management SolutionsGatic Ultraslot and Gatic Access CoversDP World London Gateway Berth 4 Expansion*A reconciliation of underlying to statutory profit measures is shown in the appendix
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Building Envelope 18The Alumasc Group plc FY25FY26Continuing operations41.85.312.7%5.341.84.911.6%4.9Revenue (£m)Underlying* operating profit (£m)Underlying* operating margin (%)Operating profit (£m) Alumasc RoofingDerbigum High Performance Waterproofing Membrane Princess of Wales Hospital, Bridgend Resilient performance•Navigated supply chain and project demand volatility well•Revenues level with record FY25•Margins lower on investment in product certifications and supportStrategic focus•Strong customer relationships founded on excellent technical sales and customer support•Increasing focus on enhanced sustainable roofing systems•Carbon-absorbing membranes•Bio-Solar systems•Improved insulation•Fire safety and protection•High end specification work with low-carbon systems•Excellent customer service and warranties•August 2026 divisional order book 39% higher than August 2025*A reconciliation of underlying to statutory profit measures is shown in the appendix
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Housebuilding Products 19The Alumasc Group plc FY25FY26Continuing operations16.14.226.0%4.218.74.725.1%4.7Revenue (£m)Underlying* operating profit (£m)Underlying* operating margin (%)Operating profit (£m) Housebuilding ProductsLoftite | Hinged Drop Down Loft Door Standout performance despite low housebuilder volumes•Revenue +16%, underlying operating profit +12%•Customer service a key driver of market share gainsOperating margin at 25%•Continued efficiency and cost control•Small adverse product mix varianceContinued investment and focus on sustainability•Two additional IM machines to further improve capacity, efficiency, agility•First carbon neutral building products manufacturerWell placed to benefit from recovery in housebuilding volumes*A reconciliation of underlying to statutory profit measures is shown in the appendix
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Strategic DeliveryVijay Thakrar, Interim Executive ChairSimon Dray, Chief Financial Officer Alumasc Water Management SolutionsGatic UltraSlotBogotá El Dorado International Airport Columbia
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Value-Accretive InvestmentInvestment supported by cash generation and strong balance sheet•Strong cashflows through effective working capital management•Significant headroom•Capital and revenue investment to enhance future growth•Selective bolt-on acquisitions to accelerate ambitions Strategic Pillars The Alumasc Group plc21 Championing Sustainable Building Products Align portfolio with strategic growth marketsResource-efficient manufacturingTargeted product developmentSustainability commitment recognised by LSE Green Economy MarkAccelerating Organic Sales GrowthOutperform general UK construction sector •Growing demand for products that improve energy efficiency and climate resilience •Supportive legislation•Trusted brands and premium products•Market-leading customer service and support•Target growth in niche international markets Driving Margin Improvement Operating margin target 15-20%Continued focus on efficiency improvements•Process automation•Capability and capacity•Site consolidationTechnology investment•Customer service and commercial decision-making supported by better dataRealise acquisition synergies
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Championing Sustainable Building Products The Alumasc Group plc 22 GHG emission intensitytCO2e, scope 1, 2 and business travel/£m revenue 010203040506070 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 FY26 Product>80% of portfolio aligned with strategic growth markets•Building decarbonisation (construction and in use)•Water management•Occupant wellbeing/urban biodiversityEPD coverage at 34% of Group revenuePlanetCost- and resource-efficient•Durable and low maintenance•39% recycled•84% recyclableScope 3 GHG emissions calculated•Scope 1 & 2 GHG emission intensity: 16.76t CO2e/£m revenue•Total value chain GHG emission intensity: 644t CO2e/£m revenue•Raw materials and transport/freight and logistics main sources•Science-based targets in place, SBTi accreditation in progress
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The Alumasc Group plc 23 Growing Revenues: Strong order bookStrong order book evidencing latent demand•June 2026 49% higher vs June 2025•CLK Airport project reaching conclusion•Changi Airport project•£2m order won December 25•First call-offs expected in H1 FY27Momentum continued into FY27•August 2026 order book 56% higher vs August 2025•Encouraging call-off rate•Revenue to date 5% higher year-on year Order bookAt 30 June1.36.97.72.12.710.59.08.3 8.312.82022 2023 2024 2025 2026£mCLKOtherOrder book movement30 June to 31 August 202615.515.618.6(18.5)30 June 2026 New orders received Orders shipped 31 August 2026£mOrder book: order confirmation received/contract signed, awaiting call-offFigures relate solely to Water Management and Building Envelope divisions
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The Alumasc Group plc24 Asia£23mAfrica£5mMiddle E/India£4mAmericas£3mEurope£4mRobust pipeline of opportunities•>75% specification-backed•UK supported by Government spend•Defence•Health•Education•Prisons•Energy generation/data centres•Transport infrastructure•Local technical sales resource building export pipeline•CLK airport project concluding, further opportunities at Changi•Good growth outside of regions of traditional strength UK£97mGrowing Revenues: £136m opportunity pipeline Opportunity pipeline: identified projects in order-to-place, or in/awaiting tender processFigures relate solely to Water Management and Building Envelope divisions
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Margin Improvement The Alumasc Group plc 25 Margin dilution in FY26•£1.8m of price rises to pass through cost increases•£8.1m volume decline (£6.8m due to CLK project), at a contribution margin of 44%•£0.6m profit drag from mix, net of cost reductionsImprovement expected in FY27•Centred on Water Management division•Volume recovery•Efficiency measures taken over H2 FY26•Supply chain rationalisation•Encouraging early signsMedium term 15-20% target range reaffirmed*A reconciliation of underlying to statutory profit measures is shown in the appendix
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26The Alumasc Group plcAlumasc Water Management SolutionsCanopy Superstore Strategic DeliveryValue-Enhancing InvestmentOrganic•Further targeted investment to support future growth•Further overseas technical sales resource added in late FY26•£2.6m of capital expenditure•2 new injection moulding machines at Housebuilding Products•Additional capacity and manufacturing agility•Support further new product development•Further CNC machining centre at Water Management (Halstead)•Reduce manufacturing costs, increase capacity in drainage range•Support further new product developmentInorganic•Continuing to review acquisition opportunities•Disciplined approach - ability to add value paramount:•Complementary products/customers/services•Alignment with structural growth drivers•Available synergiesSignificant headroom to accelerate strategic delivery
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OutlookVijay Thakrar, Interim Executive Chair Aluminium Roofline ProductsCambridge Investment Partnership - Cromwell Road Trueline Bespoke Aluminium Angled Windows
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OutlookPositive start to FY27, despite continued challenging marketRevenue in first two months 5% higher year-on-yearOrder intake remained strong, with August 2026 order book 56% higher than August 2025First deliveries to Changi Airport project expected in H1 FY27Board confident of margin improvementBenefit of Water Management restructuring and operational improvements underwayLong term structural growth drivers remainSupportive environmental and building safety regulationsUndersupply of new houses/age of UK building stock/Government spending commitmentsCapacity and capabilities in place to exploit demand recovery and export opportunitiesStability/continuity in leadership teamWell positioned to generate further growth in shareholder valueThe Alumasc Group plc 28
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Thank youwww.alumasc.co.uk Alumasc Water Management SolutionsRainscreen Cladding – City North Hotel
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Appendices Alumasc RoofingHydrotech MM6125 Willohaus, a 100-apartment Passivhaus Development, Salford
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FY25FY26ProfitBefore Tax£mOperatingProfit£mProfitBefore Tax£mOperatingProfit£m 14.215.610.011.2Underlying profit from continuing operations(0.4)(1.5)-(0.1)0.1(0.4)(1.5)-(0.1)(0.4)(0.4)0.4(0.1)0.2(0.4)(0.4)0.4(0.1)Acquired intangible asset amortisationRestructuring and other non-recurring costsProfit on disposal of propertyAcquisition expensesNet IAS 19 defined benefit pension scheme income12.313.69.710.7Statutory profit from continuing operations Non-underlying itemsYear ended 30 June 2026 The Alumasc Group plc31
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Diversified end markets The Alumasc Group plc Allocation is based on FY26 results: data estimated/illustrative32 GroupHousebuilding ProductsBuildingEnvelopeWaterManagement>80% revenue derived from environmental products>80% revenue supported by legislation/regulations% of Group revenue% of Group profitPrivatevs PublicHousebuildingvsNon-residentialvs Commercial/infrastructureRMIvs New build