Robinson Regulatory News (RBN)

Robinson plc

22 May 2025

AGM TRADING STATEMENT

Robinson plc ("Robinson", the "Company" or the "Group"; stock code: RBN), the custom manufacturer of plastic and paperboard packaging, is holding its Annual General Meeting today at 11:30am at the Peak Edge Hotel, Darley Road, Chesterfield S45 0LW. The Chairman, Alan Raleigh, will make the following statement:

Current trading

"Sales volumes in the first four months of the year are 1% above the same period in 2024. Including the effect of sales price and foreign exchange movements, Group revenue is 3% above the same period in 2024.

Sales volume in the UK business in the year to date has been strong as a result of new projects implemented in the previous 12 months, particularly in PET bottles. This growth has been largely offset by a reduction in volume in our Denmark operation, where we have seen significantly lower and more volatile demand from our larger customers and overall conditions remain challenging.

Underlying operating profit* in the first four months of 2025 was in line with the same period in 2024.

Property

We are continuing to pursue the sale of surplus properties in Chesterfield. Subject to the necessary approvals, we would expect further sales of surplus property to be achieved in 2025.

Based on professional independent valuations, the Directors estimate that the current market value of surplus properties is approximately £7.4m, and this includes the previously announced c.1.3 acres of Walton Works where exchange of contracts has occurred, and completion remains subject to satisfactory agreement of costs.

Net debt

Net debt at 30 April 2025 increased to £7.3m (31 December 2024: £5.9m), including £1.5m of capital expenditure.

Outlook

Our close partnerships with major FMCG customers have generated an improved sales pipeline, and our strategy of widening this blue-chip customer base is generating further substantial opportunities, including important projects that are now close to fruition in new market sectors.

Under the new leadership of John Melia, we are in the process of refining and sharpening our strategy, to ensure we continue to prioritise profitable growth in attractive market sectors with leading customers.

Through further property disposals and improved business performance, the Board anticipates strong cash generation to support continued profitable growth.

The Company continues to expect underlying operating profit* for the 2025 financial year to be ahead of 2024 and in line with current market expectations. We remain committed in the medium-term to delivering above-market profitable growth and our target of 6-8% underlying operating margin**."

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About Robinson:

Being a purpose-led business, Robinson specialises in custom packaging with technical and value-added solutions for food and consumer product hygiene, safety, protection, and convenience; going above and beyond to create a sustainable future for our people and our planet. Its main activity is in injection and blow moulded plastic packaging and rigid paperboard luxury packaging, operating within the food and beverage, homecare, personal care and beauty, and luxury gift sectors. Robinson provides products and services to major players in the fast-moving consumer goods market including Procter & Gamble, Reckitt Benckiser, SC Johnson and Unilever.

Headquartered in Chesterfield, UK, Robinson has plants in the UK, Poland and Denmark. Robinson was formerly a family business with its origins dating back to 1839, currently employing nearly 400 people. The Group also has a substantial property portfolio with development potential.

* Operating profit before other items

** Operating profit margin before other items