Applied Nutrition Delivers Strong FY25 Results, Revenue Surges Past IPO Guidance

Applied Nutrition plc (LSE: APN) announced robust final results for the year ended July 31, 2025, showcasing significant growth and momentum. The sports nutrition, health, and wellness brand exceeded expectations set at its IPO, fueling optimism for FY26.

Revenue for FY25 jumped 24.2% to £107.1 million, surpassing both IPO guidance and recently increased market forecasts. Adjusted EBITDA climbed 18.8% to £30.9 million, also exceeding IPO targets. Unadjusted operating profit rose 18.6% to £28.1 million.

The company demonstrated strong financial discipline with a free cash flow conversion rate of 72.4%, a substantial increase from 35.3% in the previous year. Net cash at the period's end stood at a healthy £18.5 million.

This performance underscores Applied Nutrition's successful execution of its multi-pillar, global growth strategy. The company has deepened relationships with existing customers, expanded its global footprint, and launched innovative products, including Vimto-flavored gels and Sparkling Collagen Protein Water.

The completion of a factory extension in August 2024 has boosted revenue capacity to approximately £200 million, further enhancing the company's growth potential.

Current trading trends remain positive, with the strong sales acceleration seen in the final quarter of FY25 continuing into the first quarter of the new financial year.

Applied Nutrition is gaining market share across key channels, presenting opportunities for further expansion in both the UK and international markets. Capital investments are planned to further increase capacity and capabilities to support continued growth.

While acknowledging a strong start to FY26, the Board maintains current market expectations for the full year, citing prudence given the early stage of the financial year.

Thomas Ryder, CEO of Applied Nutrition, said: “This set of results shows us over-delivering on targets we set at IPO while setting the stage for the next phase of our growth. The performance reflects the strength of our strategy, disciplined execution, and growing traction in the market.”

Key Financial Highlights:

• Revenue: £107.1m (up 24.2%)
• Adjusted EBITDA: £30.9m (up 18.8%)
• Free Cash Flow Conversion: 72.4% (up from 35.3%)

CEO Thomas Ryder stated, “With solid progress behind us and encouraging trading trends continuing, we are focused on key opportunities with a view to continuing our ambition to become the world's most trusted and innovative sports nutrition, health, and wellness brand,” reinforcing the company’s growth strategy.