XP Factory Plc (LON:XPF) has announced its preliminary unaudited final results for the year ended 31 March 2025.
FINANCIAL HIGHLIGHTS
| · | Group revenue for the 12-month period increased 19% to £57.8m compared to the prior year1 (12 months to Mar 2024: £48.6m (unaudited); 15 months to March 2024: £57.3m) representing significant further growth in scale: |
| – Escape Hunt® owner operated site revenue increased by 7% to £14.2m (12 months to Mar 2024 £13.3m (unaudited): 15 months to Mar 2024: £16.7m) | |
| – Boom Battle Bar® (“Boom”) owner operated revenue increased by 29% to £42.2m (12 months to Mar 2024: £32.7m (unaudited); 15 months to Mar 2024: £37.5m) | |
| · | Pre IFRS 16 Group Adjusted EBITDA increased to £6.6m (12 months to Mar 2024: £5.1m2 (unaudited); 15 months to Mar 2024: £6.3m) |
| · | Site level pre IFRS 16 EBITDA was £15.2m (12 months to Mar 2024: £13.1m2 (unaudited); 15 months to Mar 2024: £16.3m ) |
| · | Group Adjusted EBITDA rose to £10.5m (15 months to Mar 2024: £9.9m) |
| · | Adjusted Operating profit3 of £3.5m (15 months to Mar 2024: £2.7m) |
| · | Adjusted earnings per share of 0.23p (15 months to 31 Mar 2024: 0.09p); statutory loss per share of 0.71p (15 months to Mar 2024: loss 0.27p) |
| · | £1.1m cash balance and £4.8m net debt at 31 March 2025 (31 Mar 2024: £3.9m cash and £0.1m net cash) |
OPERATING HIGHLIGHTS
| · | Continued positive like-for-like sales growth delivered across both owner-operated brands: | |
| o | Boom: up 2.3 % in the 52 weeks to 30 March 2025 | |
| o | Escape Hunt: up 3.2% in the 52 weeks to 30 March 2025 | |
| · | New owner operated Boom site opened in Cambridge in December 2024 | |
| · | Five Boom franchise sites in Wandsworth, Aldgate East, Bournemouth, Southampton and Ipswich acquired during the year | |
| · | Boom owner operated Pre IFRS16 site level EBITDA margin increased to 18% (15 months to Mar 2024: 17%) | |
| · | Boom Pre IFRS 16 site level EBITDA return on capital of 54% (15 months to Mar 2024: 52%) | |
| · | New owner operated Escape Hunt sites opened in Worcester, Glasgow and at shared site in Cambridge in September, October and December 2024 respectively | |
| · | Escape Hunt owner operated Pre IFRS 16 site level EBITDA margin of 44% (15 months to Mar 2024: 42%) | |
| · | Escape Hunt Pre IFRS 16 site level EBITDA return on capital of 51% (15 months to Mar 2024: 48%) | |
| · | Escape Hunt games catalogue advanced with 3 brand new games launched in the year | |
| · | New £10m revolving credit facility with Barclays signed | |
| · | Revised, accelerated strategy for growth announced supported by the Barclays bank facility | |
| · | Pipeline of further site openings developed across both brands | |
| · | Both brands continue to receive industry leading customer reviews | |
POST PERIOD END HIGHLIGHTS
| · | New Boom site in Reading and new Escape Hunt site in Canterbury opened in May 2025 |
| · | Further Escape Hunt site expanding existing Birmingham Resorts world site opened in August 2025 |
| · | Escape Hunt site in Sheffield in build, and a further five sites in advanced negotiations |
| · | Group owner operated (‘O&O’) revenue was up 12% in the 19 weeks to 10 August 2025 compared with the prior year |
| · Escape Hunt UK LFL sales +0.4% year-to-date (‘YTD’), with LFLs of +8.6% in the six weeks to 10 August 2025 having fully offset the negative -3.6% in Q1 | |
| · Boom UK LFL sales -5.6% YTD, excluding the impact of Euro 2024 LFLs returned to +0.2% in the six weeks to 10 August 2025 vs -6.4% in Q1 | |
| · | New Boom site in Reading trading materially ahead of plan, and positive early indications for new EH sites which are trading in line with plan |
| · | Positive momentum on corporate bookings, which bodes well for the all-important calendar Q4 trading period |
| · | The Board remains cautiously optimistic about meeting the market’s expectations for the full year |
Richard Harpham, Chief Executive of XP Factory, commented:
“The year to March 2025 represents another successful period of development for XP Factory, with underlying operating metrics showing continued positive improvement. Whilst the business is having to cope with increased costs from government policy and a challenging first quarter has posed operational challenges,we have made significant progress towards our strategic goals and remain resolute in pursuit of success.”
1. Unaudited period to 31 March 2024
2. Annualisation of the FY25 15 month period to 31 March 2024 due to a change in accounting period
3. Adjusted Operating profit calculated as statutory operating profit before exceptional costs and pre-opening costs and before fair value gains / losses
