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Despite 2024 struggles, THG CEO optimistic after Ingenuity demerger
THG Credits: THG/Facebook THG has highlighted a transformative year marked by strategic progress, operational resilience, and balance sheet deleveraging in its preliminary results for the financial year ended December 31, 2024. The company also announced results for the first-quarter of fiscal 2025. Key headlines include FY 2024 pre-demerger revenue of 1.88 billion pounds (2.52 billion dollars), down 5 percentup 1.1 percent, a pre-tax loss of 202.4 million pounds and adjusted EBITDA in line with guidance and consensus at 123.1 million pounds. The Group’s continuing first quarter 2025 revenue was 371.4 million pounds, down 6.1 percent, with like-for-like revenue down approximately 3 percent. THG Beauty revenues reached 223.6 million pounds, down 9.8 percent and THG Nutrition revenues of 147.8 million pounds increased marginally by 0.1 percent. In a statement, CEO of THG, Matthew Moulding, said, “2024 was a big year of change and evolution for THG, the highlight of which was the demerger of the Group's technology division, THG Ingenuity at the end of the year.” “Following on from the demerger, we immediately undertook the early refinancing of the Group's debt, reducing gearing and putting in place long-term facilities to the end of 2029, alongside entering the FTSE 250. We are now fully focused on THG Beauty and THG Nutrition, and I'm incredibly proud of the progress each business has made.” The THG Ingenuity demerger was completed, and the company is now a FTSE 250 index constituent with its long-term capital structure refinanced to December 2029. FY 2025 guidance remains unchanged with revenue growth expectations of mid-single digit, with Group adjusted EBITDA margins progressing to levels of 9 percent.
THG has highlighted a transformative year marked by strategic progress, operational resilience, and balance sheet deleveraging in its preliminary results for the financial year ended December 31, 2024. The company also announced results for the first-quarter of fiscal 2025.
Key headlines include FY 2024 pre-demerger revenue of 1.88 billion pounds (2.52 billion dollars), down 5 percentup 1.1 percent, a pre-tax loss of 202.4 million pounds and adjusted EBITDA in line with guidance and consensus at 123.1 million pounds.
The Group’s continuing first quarter 2025 revenue was 371.4 million pounds, down 6.1 percent, with like-for-like revenue down approximately 3 percent. THG Beauty revenues reached 223.6 million pounds, down 9.8 percent and THG Nutrition revenues of 147.8 million pounds increased marginally by 0.1 percent.
In a statement, CEO of THG, Matthew Moulding, said, “2024 was a big year of change and evolution for THG, the highlight of which was the demerger of the Group's technology division, THG Ingenuity at the end of the year.”
“Following on from the demerger, we immediately undertook the early refinancing of the Group's debt, reducing gearing and putting in place long-term facilities to the end of 2029, alongside entering the FTSE 250. We are now fully focused on THG Beauty and THG Nutrition, and I'm incredibly proud of the progress each business has made.”
The THG Ingenuity demerger was completed, and the company is now a FTSE 250 index constituent with its long-term capital structure refinanced to December 2029. FY 2025 guidance remains unchanged with revenue growth expectations of mid-single digit, with Group adjusted EBITDA margins progressing to levels of 9 percent.
