ANGLING DIRECT PLC - Final Results

Angling Direct PLC delivered record financial results in FY26, reporting strong revenue growth, rising EBITDA margins, and continued market share gains across the UK angling retail sector. The investor update highlighted 11.9% UK like-for-like sales growth, with total UK revenue reaching £99.2 million and adjusted EBITDA increasing 25.5% to £5.3 million, driven by robust digital performance, omni-channel customer engagement, and gross margin expansion. Management emphasized the success of its MyAD loyalty platform, which grew membership by 47% to 600,000 users, alongside continued investment in technology, including digital shelf-edge labeling and automated fulfillment capabilities to enhance operational efficiency and customer personalization. The company also reported 20% online revenue growth, improved return on capital employed, and strengthened cash flow generation while maintaining disciplined working capital management. In Europe, Angling Direct reduced adjusted EBITDA losses by more than 50%, reflecting a more targeted and capital-efficient growth strategy focused on Germany and the Netherlands. Looking ahead, management reaffirmed confidence in FY27 expectations and upgraded its medium-term targets, including ambitions for £125 million UK revenue, £8 million adjusted EBITDA, and a 15% ROCE. The presentation underscored Angling Direct’s long-term growth strategy, scalable omni-channel retail model, shareholder returns through buybacks, and commitment to sustainability and community initiatives, positioning the business for continued profitable expansion.