15 January 2026

AIM: MPAC

Mpac Group plc

(''Mpac'', "the Company" or "the Group")

Full Year Trading Update

and

Notice of Results

FY25 trading performance in line with market expectations, with improving operating margins and a stabilised order book

Mpac Group plc, a global leader in high-speed packaging and automation solutions, today announces a trading update (unaudited) for the year ended 31 December 2025 ("FY25").

The Group expects that it will report revenues of c£170m (FY24: £122.4m) and underlying profit before tax in line with market expectations of £13.5m (FY24: £10.5m). Following the actions undertaken in H1, profit before tax improved substantially in H2 25, aided by continued high level of customer focus from our service teams, improving project margins and operational efficiencies.

The Group closed 2025 with an order book stabilised at c.£92.0m, in line with the position as of 30 June 2025 (HY25 £91.7m). Original Equipment ("OE") order intake improved c25% in the second half of the year against H1 25, following a slow first half as customers deferred capital investments due to market uncertainty in response to US trade tariffs. The Group has a strong and broad-based opportunity pipeline, with clear order intake targets, which we expect will support our growth ambitions, albeit the Board is mindful of ongoing uncertainty in end markets.  Further good progress was made with the Services business.

Deferrals of anticipated orders in Q4 25 resulted in lower customer deposits and consequently resulted in a higher net debt, excluding leases of £47.7m. Net debt is expected to reduce through 2026 given the make-up of the order book and opportunity pipeline, combined with an ongoing focus on cost management and cash collection. The Group continues to operate comfortably within its banking covenants.

Mpac operates in the substantial growing markets of Healthcare and Food and Beverage, although macro uncertainty remains, we start 2026 with good quote activity, as well as an improved offering through combined product lines from businesses acquired in 2024. 

The opening order book, the prospect pipeline, and the actions taken in 2025 position the Group well to deliver on market expectations for the current financial year and beyond.

Adam Holland, Chief Executive, commented:

"The Group has delivered full year performance in line with market expectations, against the backdrop of macro-economic uncertainty, which led to customers deferring expenditure. We took decisive actions to reduce operating costs in the light of these near-term challenges. While we are mindful of the ongoing uncertainty in end markets, we have a strong and broad-based opportunity pipeline with clear order intake targets. Combined with a relentless focus on cost and cash management we expect this will allow the Group to make further progress in 2026.  Looking further ahead, we remain confident in delivering enhanced shareholder value through the Group's growth strategy, driven by innovation, operational excellence and outstanding customer service.''

The Group's full year results for the year ended 31 December 2025 are expected to be announced on 21 April 2026.

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