Strong trading shows benefit of diversified portfolio
In a Trading Update for the year to 31st March 2025, Supreme reports that the Group traded strongly, supported by acquisitions and underpinned by cost management. Supreme expects FY25 revenue of c.£235.0m and (adj.) EBITDA of “at least” £40.0m; they also expect FY26 (adj.) EBITDA in line with market expectations.Supreme notes development of a number of new sales opportunities following from the acquisition of Clearly Drinks (June 2024), accessing the soft drinks sector, and Typhoo Tea (December 2024), enabling entry into the market for hot beverages. Having spent £25.0m on acquisitions during the period, the Group notes that it ended the year net cash positive (pre-IFRS 16-basis).
On our outlook, Supreme trades on an attractive FY26 EV/EBITDA of 5.5x. Overall, there is no change to our (adj.) EBITDA estimates and no change to our Fair Value of 225p/share.
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