Challenging first half for Breedon
Company announces unaudited financial results for the six months ended 30 June 2025
BREEDON Group, a leading vertically integrated construction materials group in Great Britain, Ireland and the US, have announced their unaudited results for the six months ended 30 June 2025.
First-half revenue increased by 7% to £815.9 million (H1 2024: £764.6 million), largely driven by the acquisition of Lionmark. On a like-for-like basis, revenue decreased 3%, with lower volumes across all key product categories, due to challenging markets in GB, major project delays in Ireland, and adverse US weather conditions.
Underlying EBITDA for the Group decreased by 3% to £115.0 million (H1 2024: £118.1 million), with the Group’s underlying EBITDA margin at 14.1% (H1 2024: 15.4%). The like-for-like underlying EBITDA margin decreased by 30 bps, reflecting operating leverage in GB and trading elsewhere, partially offset by disciplined cost management.
Given the difficult first half and the macroeconomic headwinds, Breedon say they now expect their result for the full year will be at the low end of the current range of market expectations.
Rob Wood, chief executive officer, remarked: ‘Breedon have had a challenging first half to the financial year; however, I am pleased at how our teams have responded to those challenges by renewing their focus on self-help and customer service while ensuring we maintain our commercial discipline.
‘We are confident in the medium-term prospects for the Group and the very nature of our business, supplying local products within local markets, provides a degree of protection in the current uncertain economic climate.
‘We have a strong and committed team, three leading platforms in geographies that have structural long-term growth drivers, significant reserves and resources, and a well invested production capability. We remain optimally positioned to benefit when construction market activity improves.’
