Ibstock

IBST · Main Market · Construction and Materials · mcap £316m · 77.2p

Ibstock makes clay bricks, concrete products and brick slips (thin brick cladding) for UK housebuilders and builders. It is investing in lower-carbon and higher-tech products.

Target	Promise	Said	Status
2024
31 Dec 2024	First brick slips from Nostell to be delivered to market, first half 2024 and later second half.	6 Mar 2024	✗ Missed · target changed
	“The first slips to be produced on our automated cutting line at Nostell in West Yorkshire will be delivered during the first half of 2024” Also stated 7 Aug 2024 Result The timing moved from H1 to H2 2024. By October 2024 the site was ramping towards 50 million slips. “will bring to market the first brick slips from our Nostell factory during the second half of this year”7 Aug 2024 · Half-year Results “The first phase of our brick slips investment at Nostell is also now operational”17 Oct 2024 · Third Quarter Trading Update
2025
31 Dec 2025	2025 adjusted EBITDA of £77m-£82m.	11 Jun 2025	✗ Missed · target changed
	“Group continues to expect adjusted EBITDA for the full year in the range of £77 million to £82 million” Result Guidance was lowered in June, then H2 weakness in October put EBITDA at £71m, below the range. “In light of the lower levels of market activity and pricing anticipated during the second half, the Board now expects adjusted EBITDA in the second half of the 2025 year to be similar to the level achieved in the first half of the year.”10 Oct 2025 · Third Quarter Trading Update “Group adjusted EBITDA1 of £71 million (2024: £79 million) was down 10% and in line with the revised guidance given in October 2025.”5 Mar 2026 · Results for the year ended 31 December 2025