Domino’s Pizza Group PLC (LON:DOM) has announced its full year results for the 52 weeks ended 28 December 2025
FY25 results as expected, with FY26 tracking in line with market expectations
Key highlights:
· FY25 results in line with guidance, with a solid finish over the Christmas trading period
· Underlying3 free cash flow of £84.6m reflecting the highly cash‑generative nature of the business
· Proposed Final Dividend 7.7p (+3%), taking the total to 11.3p for the full year, reflecting continued strong cashflow generation and confidence in the business
· FY26 performance is tracking in line with current market expectations
FY26 strategic priorities – focusing on the core:
With a solid base to build on, Domino’s will focus on its core in FY26 across four key strategic priorities that will reinforce and grow the business.
1. Growing revenue through the core
2. Growing the addressable market
3. Digital acceleration
4. Operational efficiency & cost control
Commenting on the results, Nicola Frampton, Domino’s Pizza Group Interim CEO said:
“We had a good finish to 2025, delivering full year results that were in line with guidance. I’m grateful to our colleagues and franchisees for their focus and hard work to deliver this outcome, and I’m pleased with the strong momentum we are carrying into 2026.
“In 2026, we are focused on strengthening our core business and driving disciplined execution across the organisation. In particular, we are excited about a number of strategic and operational initiatives to drive sustainable growth, including: the successful system-wide launch of CHICK ‘N’ DIP; a strong pipeline of wider product innovation; the development of our loyalty program and continued enhancements to our industry-leading supply chain.
“These initiatives, combined with Domino’s exceptional brand and strong market position, give me great confidence in our ability to create further value for our customers, franchise partners and shareholders.”
Key Financials
| FY 251 | FY 241 | % change | |
| System sales2 | £1,595.6m | £1,571.5m | 1.5% |
| Group revenue | £685.4m | £664.5m | 3.1% |
| Underlying3 EBITDA | £133.9m | £143.4m | (6.6)% |
| Underlying3 profit before tax | £91.2m | £107.3m | (15.0)% |
| Statutory profit before tax | £81.1m | £124.9m | (35.1)% |
| Underlying3 basic EPS | 17.6p | 20.4p | (13.7)% |
| Statutory basic EPS | 15.1p | 22.9p | (34.1)% |
| Full Year dividend per share | 11.3p | 11.0p | 2.7% |
FY 2025 financial summary:
· Underlying3 FY25 EBITDA in line with guidance and market expectations:
o Underlying3 EBITDA down 6.6% to £133.9m. The key drivers of the decrease are:
§ Supply chain: Lower volumes in H2 and gross profit margin decline due to mix and higher rebates
§ Overheads: Impact of investment in skills and capabilities
· Positive system sales growth:
o Total system sales up 1.5%.
o Like-for-like4 system sales (ex. VAT, ex. splits) up 0.2%.
· Group revenue increased to £685.4m, driven by an increase in Corporate Stores revenue offset by a decrease in total orders down 0.9%:
o Like-for-like orders (ex. VAT, ex. splits) down 2.3%.
· Challenging consumer backdrop remained through the second half of the year
· 31 store openings – slightly ahead of revised expectations
· Free cash flow of £80.7m reflecting highly cash‑generative nature of the business
· Net debt of £284.6m, in line with guidance range
· 3% increase in FY25 dividends, to 7.7p per share reflecting confidence in the business
· Statutory profit before tax of £81.1m, after non-underlying items of £10.1m, including:
o £10.4m Shorecal impairment which was driven by:
§ Adverse impacts from the UK 2024 budget and tough economic conditions
§ Driver employment transition in Ireland
White space opportunity remains solid
o £6.0m transaction costs:
§ Expenditure on transactions that ultimately did not proceed, with the potential for some future costs which are not anticipated to be material to the Group’s financial position
§ All work on second brand initiatives has been ceased
o Disposal of a 25% stake in Full House for £17.6m generating a £9.9m profit
Resilient business model and strength of Domino’s system drives market share gains:
· Market share gains in 2025 further strengthen Domino’s market position
o DPG’s share of takeaway market +0.3ppts to 7.3%5
o DPG’s share of UK pizza takeaway market +7.5ppts to 52.6%5
· Sustained industry leading delivery times, with average times down across UK
o 24.3 minutes in 2025 (2024: 24.5 minutes)
· Expanded loyalty trial performing well
· Outstanding supply chain delivering to 1,399 stores
o Automation projects under way and on track to deliver further efficiencies and support underlying margins
· Successful ERP implementation across entire supply chain centres
· Attractive growth opportunity remains in Ireland due to under penetration vs. UK
o In March 2025 DPG purchased an additional share of Victa DP Ltd bringing DPG’s shareholding to 70%
· Positive customer reaction to the introduction of CHICK ‘N’ DIP following nationwide rollout
· Strong execution of product innovation pipeline with encouraging reaction to new products such as Ultimate Indian Feast
FY26 expectations and current trading:
· Underlying3 EBITDA is tracking in line with current market expectations
· New store openings expected to be around the same level as 2025
· The positive momentum experienced across the 2025 Christmas trading period has continued into the first 9 weeks of 2026
Announcement details and Q&A session
We have released a pre-recorded video of the presentation on our website. To view the presentation please register here:
https://www.investis-live.com/dominos/69930076bdb10b000f7c651a/erhf
Nicola Frampton, interim CEO and Richard Snow, interim Chief Financial Officer will be hosting a Q&A session conference call, which can be joined (listen only) as below:
Conference call – 10/03/2026 at 09:30 AM
Operator Assisted Dial-In:
United Kingdom (Local): +44 20 3936 2999
United Kingdom (Toll-Free): +44 808 189 0158
Access Code: 481254
