Victoria PLC, the international designer, manufacturer and distributor of innovative flooring, has reported a slight decline in sales.
According to its audited results for the year ending 29 March 2025, total sales resulted at £1.1bn, down from £1.2bn in 2024.
Underlying EBITDA resulted at £113.7m, down from £159m, while underlying pre-tax losses amounted to £11.5m, compared to its profit of £31.1m the previous year.
Victoria said that performance in FY2025 was impacted by lower volumes as a result of macroeconomic headwinds across its end-markets, with demand c. 15-25% below 2019 levels across different geographies, and margins impacted by operational leverage.
The group added that market conditions remain at trough levels although there are tentative signs of stabilisation, particularly in the UK and Southern Europe. The Group remains focused on improving margins and being disciplined on pricing, and average selling prices in Q1 are therefore ahead of last year. Volumes overall remain behind FY2025, but with an improving trend.
Commenting on Victoria’s Outlook, Geoff Wilding, Executive Chairman, said: “After nearly three years of intense macroeconomic headwinds there are tentative signs that the trading environment has stabilised. Nevertheless, the Board and management remain firmly focused on factors within our control.
“Significant initiatives, outlined to shareholders in the FY2025 Interim Report, were executed, delivering the most profitable quarter of the year in Q4 and underpinning the expected significant uplift in margins in FY2026.
“Our near-term priority is to continue executing internal self-help initiatives that drive margin improvements, earnings and enhance cash generation and return on capital, ensuring the Group emerges stronger regardless of the pace or shape of the macro recovery.”
