The information contained within this announcement is deemed by the Group to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 as amended by The Market Abuse (Amendment) (EU Exit) Regulations 2019. Upon the publication of this announcement via the Regulatory Information Service, this inside information is now considered to be in the public domain.

13 February 2025 

Applied Nutrition plc

(the "Group")

H1 FY25 Trading Update

Financial performance ahead of IPO guidance with good strategic progress

Applied Nutrition plc, a leading sports nutrition, health and wellness brand, today announces an update on trading for the six months ended 31 January 2025 ("H1 FY25").

The Group has made good progress in the first half of the financial year, delivering revenue of £47.6 million, comfortably ahead of guidance provided at the time of the IPO of £46 million, representing a strong underpin for the full year guidance of £100 million. The Group continues to achieve a robust Adjusted EBITDA margin and cash conversion, both in line with market expectations. 

Within the period, the Group delivered significant progress towards its growth strategy, including:

·      Leveraging New Product Development (NPD) to drive increased shelf space with new and existing customers, and to increase distribution end points across all channels:

o  Coleen Rooney wellness supplements added to the 'Applied Nutrition' range and will be stocked nationwide in Holland and Barrett from March, targeting a new demographic of customer for the Group

o  Product innovations such as Sparkling Protein Water, Creaflow, Blackstak, and Creatine Gummies added to the 'Applied Nutrition' range

o  'Endurance' range launched its unique collaboration with Vimto and is set to be listed in at least two national chains

·      Continued rollout to new markets, customers and channels:

o  New product launches in Canada across major speciality retail chains

o  Further penetration in South America across six new countries

o  First orders dispatched to a new Asian partner, initially selling in Singapore

o  In the US, launched a range of products under the 'AN Performance' range with The Vitamin Shoppe across over 700 stores nationwide in addition to launching a collaboration with global fruit brand Chiquita

·      Highly effective marketing strategy continues to go from strength to strength:

o  Signed Daniel Dubois as a brand ambassador

o  First TV advert for the Group was broadcast across January and February in conjunction with launch of Coleen range

o  Attended five expo events in the Middle East and UK since IPO with further expos in United Arab Emirates, Columbia, and USA over the next three weeks

·      Completion of a manufacturing extension which increases capacity to allow the Group to grow revenues to approximately £160 million

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Interim Results

The Group will announce its Interim Results for the six months ended 31 January 2025 on 8 April 2025.

Thomas Ryder, CEO of Applied Nutrition, said:

"Our successful IPO in October has had the positive impact we hoped for on the profile of Applied Nutrition and our industry recognition. I am pleased to report we have made strong progress in the first half, delivering performance ahead of our IPO guidance. Our growing global customer base highlights our appeal to a wide range of consumers, from everyday health-conscious individuals to professional athletes who rely on trusted sports nutrition products to fuel their performance.

Our focus is on delivering the growth strategy outlined at IPO of taking our brand to an increasing number of customers globally. This is underpinned by our in-house NPD engine and supported by our strong partnerships. We are running into the second half of the year with confidence and remain committed to delivering our vision of being the world's most trusted and innovative sports nutrition, health and wellness brand."

For further information please contact:

Notes to editors

Applied Nutrition plc (LSE: APN) is a leading sports nutrition, health and wellness brand, which formulates and creates nutrition products with a stated aim of being the world's most trusted and innovative brand in the market.

Headquartered in the UK, the Group sells products in over 85 countries worldwide and has a diverse product range, targeting elite athletes, gym goers and health-conscious consumers. Applied Nutrition has developed and launched four ranges under the umbrella of the Applied Nutrition brand - Applied Nutrition, ABE, BodyFuel, and Endurance. Across the four ranges, the Group sells approximately 100 different products.

The Group's success has been built on an exceptional product range developed in-house in Knowsley, Liverpool, by a team of experts, allowing products to be developed efficiently delivering new innovation to the market, keeping existing products up to date, and introducing products aligned with latest trends.

The Group largely operates a global business-to-business (B2B) model, which has facilitated a low risk, highly cost-effective go-to-market strategy and has enabled strong, profitable growth in the UK, Europe and other international geographies. The business model and strategy has enabled the Group to become a fast-growing, highly profitable and cash generative global supplier in the sports nutrition, health and wellness market.

For further information, please visit www.appliednutritionplc.com