SIG Q4 Earnings Call Highlights

Core Insights - SIG reported flat full-year sales for 2025, with a 1% year-over-year increase in volumes, but pricing acted as a net headwind, particularly in the fourth quarter across key markets [1][2] - The company is expected to publish detailed financial results and outlook on March 4 [2] Financial Performance - Group operating profit increased by GBP 7 million to GBP 32 million, attributed to nearly GBP 40 million in cost reductions that offset inflation and translational impacts [3] - Free cash flow for the year was an outflow of GBP 12 million, which management characterized as "pretty solid" given the depressed margins [4] - Year-end liquidity was reported at just over GBP 170 million, with leverage remaining flat year over year at 4.7x [4] Business Highlights - The U.K. Interiors business unit showed growth of 8% in the first half, 3% in the second half, and 5% for the full year, indicating a positive performance despite market conditions [5] - SIG removed the management structure supporting its U.K. Specialist Markets to improve accountability and exploit opportunities in smaller specialist businesses [5] - The company closed a small business called Mayplas in December as part of its ongoing simplification efforts [6]