Full Year Trading Update

(AIM:COPC) Coppa Collective plc reported a record adjusted EBITDA for the 52-week period ended 27 September 2026 (FY26), with adjusted EBITDA expected to double to £2.8m, in line with market expectations. Organic adjusted EBITDA is expected to increase by 44% to £2.0m. The adjusted EBITDA margin is anticipated to improve to 5.0% from 2.6%, reflecting improved operational efficiency. Revenue grew by 8% to £56.4m, supported by the enlarged estate. In the fourth quarter, the Group returned to like-for-like (LFL) sales growth, with Group sales up 2.2% and Coppa Club up 2.6%. For the full year, Group LFL sales were broadly flat, with Coppa Club delivering growth of 0.3%. The Group acquired The Linwood Collection, a group of premium pubs with rooms, for £11.25m at a multiple of approximately 7x historical site-level EBITDA (£1.6m for the 52 weeks ended 28 December 2025). The acquisition included four venues (three freeholds and one long leasehold) and was completed in March and April 2026. The Group refurbished and converted its London Bridge site, which reopened as Coppa Club London Bridge on 23 July 2026 after nearly two months of closure due to landlord works. During FY26, Tavolino and 31 Below were converted into the Coppa Club format, strengthening the brand's London presence. Noci broadened its menu and delivered a 12% improvement in site-level EBITDA, despite revenue being below the prior year. The previously announced potential acquisition of The Queen's Head will not proceed due to the Asset of Community Value process. At the end of FY26, the Group had cash at bank of £2.8m (FY25: £8.0m) and net debt, excluding IFRS 16 lease liabilities, of £10.3m (FY25: net cash of £4.6m). The Company expects to announce its FY26 results in February 2027. Mark Loughborough is Chief Executive Officer and Sharon Badelek is Chief Financial Officer of Coppa Collective plc.