2 June 2025

ME GROUP INTERNATIONAL PLC

("ME Group" or the "Group" or the "Company")

Trading Update

Record H1 Group profitability achieved, driven by strong Revolution laundry performance 

On track to deliver FY 2025 profit performance in line with expectations,
with another year of record profitability.

ME Group International plc (LON: MEGP), the instant-service equipment group, announces an update on the Group's trading for the six months ended 30 April 2025 ("H1 2025").

Trading Update

The Group is pleased to report that record trading momentum has continued in the first half of the year, with Group profit before tax up approximately 14% (up approximately 17% at constant currency¹) and Group revenue up approximately 2% (up approximately 4% at constant currency¹), driven by the strong continued performance in our laundry business. Excluding the H1 2024 contribution from SEMPA SAS, which was sold in May 2024, revenue in H1 2025 was up approximately 3.5% year-on-year (up approximately 6% at constant currency¹).

Laundry operations delivered a strong performance with revenue up 13.3% (up 15.7% at constant currency¹). This reflected ongoing demand across all our geographies. In line with the Group's focus on laundry expansion, new machine installations continued at pace, particularly across France and the UK, with a further 550 net new machines installed in H1 2025.  The Group remains on track to install a total of 1,200 net Revolution laundry machines across target geographies in FY 2025.

Photobooth revenue is down approximately 3.3% (down approximately 1.1% at constant currency¹), primarily due to a technical issue with new printers which has now been resolved but caused an estimated 2% drop in photobooth revenue in H1 2025. The Group received compensation from the supplier in connection with this issue. The Group is on track to install its target of 3,200 next-generation photobooths in FY 2025 as it continues to upgrade and replace existing machines.

In March 2025, the Group completed a small acquisition of a photo ID competitor in Belgium, which will see ME Group add an additional 116 photobooths to its portfolio, all of which were profitable [in the prior year]. This further evidences delivery of the Group's growth strategy through expansion in existing and new geographic territories. The acquisition was funded via the Group's cash balances.

Financial Position

The Group has predictable revenue streams, is highly cash generative, and has a strong balance sheet. At 30 April 2025, the Group's net cash position was up 69.1% to £36.2 million (H1 2024: £21.7 million).

Outlook

We are pleased to report further progress and profit growth in H1 2025, despite a backdrop of challenging global markets. Whilst the photobooth revenue performance was slightly lower than expected due to the supplier issue referenced above, laundry operations continue to deliver significant growth. Historically, the Group's performance is second-half weighted, and the Board continues to anticipate FY 2025 profit before tax will be between £76 million and £80 million.   

The Board remains focused on delivering against its long-term strategy to grow its core photobooth and laundry activities. The Group's key strengths underpin its significant competitive advantage and continue to position it for long-term success.

The Group will publish its interim results for the six months ended 30 April 2025 in mid-July 2025.

¹ At constant currency rate. In H1 2025, the Japanese yen saw a 2.5% decrease in value against Pound Sterling (average rate of exchange used in H1 2025 was yen/£ 192,64 vs H1 2024 yen/£ 187.64), and a 2.7% decrease in the euro against pound sterling (average rate of exchange used in H1 2025 was 1.194 vs H1 2024: 1.163).

ENQUIRIES:

NOTES TO EDITORS

ME Group International plc (LSE: MEGP) is an international market leader in automated self-service equipment aimed at the consumer market.

The Group operates, sells and services a wide range of instant-service vending equipment across 18 countries in its key regions of Continental Europe, the UK & Republic of Ireland and Asia Pacific. The Group's services include:

Core activities:

Ancillary activities:

The Group has a proven track record of innovation and diversification of its products and services enabling it to respond to the evolving needs of its customers and consumers.

The Group benefits from well-established partnerships and long-term contracts with major site owners in attractive, high-footfall locations, enabling it to offer multiple products and services onsite. Partners include supermarkets, petrol forecourts, shopping malls (indoors and outdoors), transport hubs, and administration buildings (City Halls, Police etc.).

The Company's shares have been listed on the London Stock Exchange since 1962.

For further information: www.me-group.com