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.