AGM Trading Update

Stelrad Group PLC

20 May 2026

 

20 May 2026

Stelrad Group plc

("Stelrad" or "the Group")

AGM Trading Update

Stelrad Group plc ("Stelrad" or "the Group", LSE: SRAD), a leading specialist manufacturer and distributor of steel panel and design radiators in the UK, Europe and Turkey, is holding its Annual General Meeting today and will make the following comments regarding current trading, financial performance and the outlook for the financial year. 

Despite ongoing subdued market demand impacting volumes, Stelrad's trading in 2026 to date is in line with management expectations and the Group's full year outlook is unchanged from that given at the full year results on 13 March 2026.

Stelrad's financial performance in the year to date has benefitted from the successful continuation of our commercial and operational initiatives which have further enhanced profitability and offset market weakness.

The robustness of the Group's supply chain and inventory positions, alongside management's experience, mean that Stelrad is well placed to manage challenges that may arise due to the current events in the Middle East without disruption to margins or the ability to continue to supply our customers.

Although we remain mindful of the potential impact of further macroeconomic uncertainty on end market demand, our progress year to date, combined with our competitive advantages of Stelrad's flexible, low-cost manufacturing footprint, outstanding customer service and unmatched product availability, underpin management's confidence in our full year expectations.

Whilst there remains a level of uncertainty around the timing of a wider market recovery, we remain confident in the attractiveness of our markets, underpinned by long-term structural growth drivers, and the opportunities that a market recovery present for a stronger, more agile Stelrad.  

Trevor Harvey, Chief Executive Officer of Stelrad, commented:

"Stelrad has made a positive start to the year and has traded in line with expectations.  This performance is a testament to our competitive advantages and the operational excellence initiatives the Group has undertaken in recent years to enhance our contribution per radiator. 

"We remain focused on ensuring that our operations are fully optimised and, with our strong market positions and structural tailwinds from decarbonisation, we remain confident in our ability to deliver further progress, drive market share gains, and provide long-term value for all stakeholders."

Notice of interim results

Stelrad intends to announce its interim results for the six months ending 30 June 2026 on 7 August 2026 and will provide a further update on its progress at this time.

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For further information:

Stelrad Group plc Trevor Harvey, Chief Executive Officer Leigh Wilcox, Chief Financial Officer	[phone]
Sodali & Co James White / Pete Lambie	[e-mail] [phone]

Notes to Editors

Stelrad Group plc is Europe's leading specialist radiator manufacturer, selling an extensive range of hydronic, hybrid, dual fuel and electrical heat emitters to more than 500 customers in over 40 countries. These include standard, premium and low surface temperature (LST) steel panel radiators, towel warmers, decorative steel tubular, steel multicolumn and aluminium radiators.

The Group has five core brands: Stelrad, Henrad, Termo Teknik, DL Radiators and Hudevad.  In the data reported by BRG Building Solutions for 2024, Stelrad extended its market leadership position, with 24.2% share by volume of the European steel panel radiator market, excluding Russia and Belarus.  The Group is now market leader in six countries - the UK, France, Belgium, the Netherlands, Ireland and Denmark, with a top three position in a further 12 territories. 

Stelrad is headquartered in Newcastle upon Tyne in the UK and in 2025 employed 1,300 people, with manufacturing and distribution facilities in Çorlu (Turkey), Mexborough (UK), Moimacco (Italy) and Nuth (Netherlands), with a further commercial and distribution operation in Krakow (Poland).

The Group's origins date back to the 1930s and Stelrad enjoys long established commercial relationships with many of its customers, having served each of its top five current customers for over twenty years.

Further information can be found at: https://stelradplc.com/.

 

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