Analyst Consensus

Based on our discussions with the sell-side analysts who publish equity research on Victorian Plumbing Group plc our understanding of current market consensus is as follows:

Analysts covering Victorian Plumbing Group plc

Victorian Plumbing Group plc (“the Group”) has identified certain Alternative Performance Measures (“APMs”) that it believes provide additional useful information on the performance of the Group. These APMs are not defined within IFRS and are not intended to substitute or be considered as superior to IFRS measures. Furthermore, these APMs may not necessarily be comparable to similarly titled measures used by other companies.

• Adjusted EBITDA is operating profit before depreciation, amortisation, exceptional items and IFRS 2 share-based payments.
• Adjusted EBITDA margin is Adjusted EBITDA as a percentage of revenue.
• Adjusted PBT is Adjusted EBITDA less finance costs/(income), depreciation and amortisation.
• Adjusted PBT margin is Adjusted PBT as a percentage of revenue.
• Adjusted diluted Earnings Per Share (“EPS”) is adjusted profit after tax divided by the total issued share capital.
• Adjusted profit after tax is net income before exceptional items and IFRS 2 share-based payments, and after adjusting for the tax impact of those items.

Consensus is compiled from financial estimates provided by third-party research analysts. Financial estimates identified as containing material calculation errors or being out-of-date are excluded. Where an analyst subsequently withdraws coverage, their financial estimates are excluded. Consensus was last updated on the date at the top of this page. It is based on estimates published by the analysts referenced above.

The forecasts presented above have not been prepared by and are not endorsed in any way by the Group. Although guidance has been provided to the market for broad medium-term revenue anticipations through to FY28, the Group has neither verified nor commented on any individual estimates, nor does it intend to do so in the future. The Group assumes no responsibility to update, revise or otherwise comment on any of the information contained in these forecasts. Financial forecasts are, by definition, forward looking, and are therefore subject to various risks and uncertainties which are subject to change at any time.

Nothing in this analysis should be taken as a recommendation to buy or sell shares in the Group or to take any other action or place any reliance on the analysis.

Neither the Group nor any group company, director, officer or employee of the Group and its group companies accepts any responsibility for the accuracy of the forecasts used in this analysis and therefore shall have no liability whatsoever for the consequences of any reliance or actions taken or not taken based on any of the information in this analysis.