HWDN FINANCIAL STATEMENTS

Howden Joinery Group Plc — balance sheet, income statement and cash flow trends

HWDNHowden Joinery Group Plc

🇬🇧 UK · LSE · Consumer Cyclical · Furnishings, Fixtures & Appliances

Value it Duel

Income Statement

Quarterly progression — trailing-twelve-month values

RevenueNet Income

Profit Funnel

Q2 2025 · TTM

Percentages are relative to revenue.

Key Figures

YoY change

Revenue2.4 B £+4.6%

Gross Profit1.5 B £+7.9%

Operating Income359.7 M £+5.7%

EBITDA526.1 M £+8.4%

Net Income267.7 M £+5.1%

Peer Comparison· Furnishings, Fixtures & Appliances

Company	Rev. Growth	Gross Margin	EBITDA Margin	Net Margin
HWDN	4.1%	62.7%	21.8%	11.1%
SNICA	10.7%	16.9%	2.4%	-24.6%
DGNMO	-13.1%	22.3%	-0.2%	-18.2%
ISBIR	-3.4%	22.1%	16.4%	-3.6%
KUTPO	11.7%	34.9%	18.9%	0.8%
PRPL	-2.5%	39.7%	-1.5%	-13.6%
Industry median	-1.1%	29.0%	6.6%	0.7%

Company	Rev. Growth	Gross Margin	EBITDA Margin	Net Margin
HWDN	4.1%	62.7%	21.8%	11.1%
JD	10.5%	47.0%	15.0%	3.4%
KGF	1.3%	38.1%	10.1%	1.9%
BTRW	31.3%	14.2%	6.6%	3.5%
WTB	-0.1%	50.6%	35.9%	7.3%
PSN	17.2%	15.4%	11.6%	7.6%
Industry median	-1.1%	29.0%	6.6%	0.7%

Balance Sheet

Quarterly period-end values

Total AssetsTotal LiabilitiesEquity

Capital Structure

Q2 2025

Equity1.2 B £51%
Current Liabilities492.1 M £21%
Long-term Liabilities671.1 M £29%

Key Figures

YoY change

Total Assets2.4 B £+14.0%

Total Liabilities1.2 B £+7.1%

Total Equity1.2 B £+21.7%

Cash & ST Investments344.5 M £+21.8%

Total Debt704.9 M £+3.0%

Net Debt360.4 M £-10.3%

Peer Comparison· Furnishings, Fixtures & Appliances

Company	Current Ratio	Debt/Equity	NetDebt/EBITDA	Equity/Assets
HWDN	2.10	59.2%	0.69	50.6%
SNICA	1.36	20.3%	11.58	57.4%
DGNMO	0.37	462.3%	-204.13	11.3%
ISBIR	1.40	54.4%	1.90	58.3%
KUTPO	2.90	2.7%	-0.16	78.0%
PRPL	1.24	-351.1%	-26.42	-22.1%
Industry median	1.55	53.7%	0.69	46.4%

Company	Current Ratio	Debt/Equity	NetDebt/EBITDA	Equity/Assets
HWDN	2.10	59.2%	0.69	50.6%
JD	1.51	123.1%	1.49	30.5%
KGF	1.21	38.0%	1.44	54.0%
BTRW	4.66	3.2%	-0.23	68.9%
WTB	0.44	174.3%	4.99	32.8%
PSN	3.99	0.5%	-0.23	68.0%
Industry median	1.55	53.7%	0.69	46.4%

Cash Flow Statement

Quarterly progression — trailing-twelve-month values

Operating Cash FlowCapital ExpendituresFree Cash Flow

Cash Flow Bridge

Q2 2025 · TTM

Key Figures

YoY change

Operating Cash Flow498.8 M £+34.0%

Capital Expenditures156.5 M £+31.6%

Free Cash Flow342.3 M £+35.1%

Dividends Paid-116.6 M £—

Peer Comparison· Furnishings, Fixtures & Appliances

Company	CF Margin	FCF Margin	CapEx Ratio	CF/Net Income
HWDN	20.6%	14.2%	6.5%	186.3%
SNICA	12.8%	9.4%	3.5%	-52.1%
DGNMO	-3.0%	-2.3%	0.2%	16.4%
ISBIR	3.1%	-3.4%	6.7%	-86.4%
KUTPO	9.0%	1.6%	7.5%	1,113.5%
PRPL	-1.7%	-3.3%	1.6%	12.4%
Industry median	7.9%	2.8%	3.2%	122.5%

Company	CF Margin	FCF Margin	CapEx Ratio	CF/Net Income
HWDN	20.6%	14.2%	6.5%	186.3%
JD	10.8%	7.9%	2.9%	313.8%
KGF	11.2%	8.1%	3.0%	594.3%
BTRW	-3.2%	-3.5%	0.3%	-89.8%
WTB	25.8%	3.4%	22.5%	354.3%
PSN	0.8%	-0.3%	1.1%	10.0%
Industry median	7.9%	2.8%	3.2%	122.5%

Amounts are in the company’s reporting currency. Peer comparison tables use ratio-based metrics so currency differences do not distort the picture.

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Data on this page refreshes once per day. Price data as of Jul 7, 26. This content is for informational purposes only and is not investment advice.