THG

THG · Main Market · Personal Care, Drug and Grocery Stores · mcap £432m · 27.2p

THG owns online retail brands, mainly LOOKFANTASTIC and Cult Beauty in beauty and Myprotein in sports nutrition. It sells direct to consumers and, increasingly, through licensed products in shops.

Target	Promise	Said	Status
2024
30 Sep 2024	About 80% of Myprotein products by online revenue under new branding by end Q3 2024	24 Jun 2024	… In progress
	“c.80% of products by online revenue planned to be under new branding by the end of Q3 2024” Result Not yet due.
H2 2024	Launch local manufacturing in Japan and India in H2 2024	16 Jan 2024	… In progress
	“After a 2-year process, local manufacturing will launch in both Japan and India in 2024” Also stated 10 Apr 2024 Status so far Not yet due.
Q2 2024	Holland & Barrett fulfilment partnership starts in Q2 2024	16 Jan 2024	… In progress
	“from Q2 2024, H&B will utilise THG's automated facilities in the UK” Status so far Not yet due.
FY 2024	Beauty and Ingenuity improve EBITDA margin in FY 2024	17 Sep 2024	… In progress
	“Beauty and Ingenuity delivering YoY adjusted EBITDA margin progression for the full year” Status so far Not yet due.
2025
FY 2025	Nutrition EBITDA margin back to about 12% in FY 2025	17 Sep 2024	… In progress
	“Nutrition adjusted EBITDA margin recovery back to medium-term guidance (c.12%) in FY 2025” Status so far Not yet due.
FY 2025	Myprotein offline and licensed retail sales of about £170m in FY 2025	25 Jun 2025	… In progress
	“The retail sales value of offline and licensed products is expected to be around £170m for FY 2025” Status so far Not yet due.
Today · 11 Oct 2026
2026
FY 2026	Sell over 60m licensed products in 2026	12 Feb 2026	… In progress
	“Licensed product sell-in is well on track to exceed 60m units during FY 2026 (FY 2025: 43m).” Also stated 24 Jun 2026 Status so far Not yet due.
FY 2026	Net debt of £110m-£130m by end FY 2026	26 Mar 2026	… In progress
	“Net debt is anticipated to reduce to between c.£110m - £130m before any strategic asset disposals” Status so far Not yet due.
FY 2026	Nutrition mid-to-high single digit growth in FY 2026	26 Mar 2026	… In progress
	“Mid-to-high single digit revenue growth is expected to continue in THG Nutrition” Status so far Not yet due.
FY 2026	FY 2026 revenue, adjusted EBITDA and cash in line with consensus	21 Apr 2026	… In progress
	“the Group maintains its guidance for FY 2026, underpinned by continued market share gains in key territories” Also stated 24 Jun 2026 Status so far Not yet due.
H2 2026	Myprotein enters energy, protein water and breakfast categories in H2 2026	24 Jun 2026	… In progress
	“Myprotein will enter the energy, protein water, and breakfast categories, during H2 2026.” Status so far Not yet due.
FY 2026	Myprotein sells over 130m units in FY 2026	10 Sep 2026	… In progress
	“The Myprotein brand is on track to sell in excess of c.130m units for FY 2026” Status so far Not yet due.
2027
H1 2027	Complete Asia retail transition to licensing in H1 2027	10 Sep 2026	… In progress
	“the retail model in that region transitioning from direct sales to a licensing model which is expected to be completed during H1 2027” Status so far Not yet due.