Also trades as: RE.L (LSE) · $vol 0M

£94.00 ($1.24)

-5.00 (-5.05%)

Weekly Expected Move ±4.7%

£85 £90 £94 £98 £103

LSE · Consumer Defensive · Agricultural Farm Products · Tech Score Buy · Power 65 · £41.8M mcap · 22M float · 0.225% daily turnover

Analysis Technicals Weather Peers

Revenue

$188M +6.3% ▲

5Y CAGR: +8.5%

Gross Profit

$51M +52.6% ▲

5Y CAGR: +7.6%

Operating Income

$35M +135.6% ▲

Net Income

$26M +358.2% ▲

EPS (Diluted)

$0.42 +227.3% ▲

EBITDA

$79M +92.3% ▲

5Y CAGR: +38.2%

View Full Income Statement

Line Item	FY2020	FY2021	FY2022	FY2023	FY2024
Revenue	$139M	$192M	$209M	$177M	$188M
YoY Growth	+11.3%	+38.0%	+8.8%	-15.4%	+6.3%
Cost of Revenue	$111M	$130M	$148M	$143M	$136M
Gross Profit	$28M	$62M	$61M	$34M	$51M
Gross Margin	20.2%	32.4%	29.1%	19.1%	27.4%
R&D Expenses	$1M	$752K	$65K	$374K	$0
SG&A Expenses	$19M	$14M	$19M	$19M	$16M
Operating Expenses	$19M	$14M	$19M	$19M	$16M
Operating Income	$9M	$48M	$41M	$15M	$35M
Operating Margin	6.3%	25.1%	19.8%	8.4%	18.6%
Interest Expense	$19M	$18M	$17M	$15M	$13M
Income Before Tax	-$23M	$29M	$42M	-$29M	$39M
Tax Expense	-$7M	$20M	$9M	-$12M	$8M
Net Income	-$14M	$7M	$28M	-$10M	$26M
Net Margin	-9.8%	3.8%	13.3%	-5.8%	14.1%
EPS (Diluted)	$-0.31	$-0.03	$0.40	$-0.33	$0.42
EBITDA	$33M	$73M	$66M	$41M	$79M
Shares Outstanding	44M	44M	48M	44M	44M

Line Item	FY2022 Q4	FY2023 Q2	FY2023 Q4	FY2024 Q2	FY2024 Q4	FY2025 Q2	FY2025 Q4	FY2026 Q2
Revenue	$100M	$74M	$103M	$81M	$107M	$71M	$103M	$89M
Cost of Revenue	$67M	$62M	$81M	$64M	$73M	$49M	$74M	$57M
Gross Profit	$33M	$12M	$22M	$17M	$34M	$23M	$29M	$31M
Gross Margin	33.4%	16.2%	21.1%	21.2%	32.0%	31.8%	28.3%	35.4%
R&D Expenses	$38K	$181K	$193K	$192K	-$192K	$0	$0	$0
SG&A Expenses	$9M	$11M	$8M	$9M	$8M	$8M	$7M	$8M
Operating Expenses	$9M	$11M	$8M	$9M	$8M	$8M	$7M	$8M
Operating Income	$24M	$1M	$14M	$9M	$26M	$14M	$22M	$23M
Operating Margin	24.0%	1.6%	13.2%	10.7%	24.6%	20.3%	21.7%	26.3%
Interest Expense	$0	$0	$0	-$436K	$13M	$5M	$8M	$0
Income Before Tax	$23M	-$15M	-$14M	$8M	$31M	$5M	$18M	$26M
Tax Expense	$4M	-$3M	-$14M	$5M	$4M	$7M	$1M	$10M
Net Income	$16M	-$11M	$402K	$2M	$25M	-$2M	$11M	$9M
Net Margin	15.9%	-14.5%	0.4%	1.9%	23.3%	-2.6%	10.6%	10.2%
EPS (Diluted)	$0.33	$-0.24	$0.01	$-0.06	$0.48	$-0.12	$0.05	$0.11
EBITDA	$35M	$15M	$26M	$21M	$57M	$9M	$22M	$35M
Shares Outstanding	48M	44M	44M	44M	44M	0	44M	83M

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