ME Group International plc (LON:MEGP), the instant-service equipment group, has announced a trading update for the 12 months ended 31 October 2025.
Trading Update
Total revenue for the full year is expected to be between £311 million and £318 million1. The Group expects to report another year of record profitability with profit before tax of between £76 million and £79 million1. The Group’s cash conversion and balance sheet remained strong.
Wash.ME laundry operations, the Group’s fastest growing business area by machine number and EBITDA, delivered double digit revenue growth. Revenue in the period was up approximately 10% compared with FY 2024 (up c.11% at constant currency). Whilst unusually warm weather across some operating regions had some impact on demand for laundry services during H2 2025, the Group made further positive progress on its rollout programme across target geographies, with a total of 1,145 net laundry machines installed during FY 2025. This is a record number of installations and represents a 27.2% increase compared to FY 2024 where we installed 900 net laundry machines.
Photo.ME revenue was down approximately 4% compared with FY 2024 (down c.3% at constant currency). Trading has largely been robust in key markets such as France and we have seen growth in our developing markets including Belgium and the Netherlands. The Group revenue performance overall reflected the previously communicated ending of a UK contract in FY 2024 and a resolved printer supplier issue in H1 2025. In Germany, regulatory changes requiring passport photos to be taken in the citizens’ office or by certified photographers impacted revenue performance in H2. The rollout programme for next-generation photobooths continued, and by the end of FY 2025 the Group was operating 3,079 machines.
Update on ‘Offer Period’
On 18 June 2025, the Group issued a response to media speculation and movement in its share price. At that time, ME Group stated that it was exploring strategic options to enhance shareholder value and that one of those options involved seeking potential offerors for the Company. This process is ongoing, and a further update will be provided in due course.
Looking ahead
As the Group enters its new financial year, the Board remains focused on delivering the Group’s long-term strategy to grow its core laundry and photobooth activities, leveraging its key strengths and significant competitive advantages. Whilst the macro-economic backdrop is still uncertain, the Group remains well-positioned to deliver continued revenue and profit growth in the year ahead.
2025 Annual Results
ME Group expects to publish its Annual Results for the financial year ended 31 October 2025 in mid-February 2026.
1Excluding the impact from foreign exchange rates (“at constant currency”) during FY 2025, particularly the Japanese yen which saw a 1.9% decrease in value against pound sterling (average rate of exchange used in FY2025 was Yen/£ 195.35 vs FY 2024: Yen/£ 191.71 ), and a 0.05% decrease in the euro against pound sterling (average rate of exchange used in FY 2025 was €/£ 1.178 vs FY 2024: 1.173).
