pladis, the global snacking company behind brands including McVitie’s, Ülker and GODIVA, has today published its Annual Report for the year ended 31 December 2025.
Reported revenue increased by 1.2% to £3.272bn, compared with £3.232bn in 2024. Branded sales accounted for approximately 90 per cent of revenue, reflecting the central role and strength of pladis’ portfolio, supported by continued brand investment, innovation and market expansion. During the year, McVitie’s also marked 100 years of Chocolate Digestives, underlining the enduring relevance and resilience of one of the group’s most iconic brands.
Revenue growth amid industry pressures
The 2025 results reflect a demanding year for the wider food industry, shaped by commodity inflation, currency volatility and macroeconomic headwinds. Against that backdrop, pladis delivered EBITDA of £473.7m, compared with £494.5m in 2024, and operating profit of £301.6m, compared with £344.4m, while maintaining a disciplined focus on execution, productivity and supply-chain efficiency. Working capital requirements increased during the year, contributing to lower cash generation, while net debt stood at £1.028bn at year end.
The business invested £100.5m in capital expenditure during 2025 to strengthen capacity, productivity, efficiency and resilience across its operations. In the Americas, pladis also took action to simplify its manufacturing footprint during the year, supporting a more efficient and resilient platform for future growth.
During the year, pladis also continued to advance targeted multi-year investment programmes across its manufacturing network. These included a £68m programme across UK bakeries producing brands such as McVitie’s, Jacob’s and Carr’s; investment in its Cairo facility, which had reached £8.6m by the end of 2025; and a €5.4m investment in a new Mini BN line at Vertou in France.
Investment, innovation and future growth
Innovation remained central to pladis’ Compete to Win strategy. In Türkiye, recent product innovation continued to support Ülker’s leadership in snacking, with products launched over the past three years accounting for 12% of Ülker’s annual snacking revenue in 2025. The Annual Report also highlights pladis’ first global Accelerator Programme, which selected 12 start-ups from more than 300 applications across five continents.
Since the year end, pladis has continued to advance its strategic priorities, including the next phase of McVitie’s expansion in China, as the business looks to build scale in attractive growth markets.
During 2025, pladis also developed Happy People, Happy Planet, its new global sustainability strategy, which launched in April 2026. The strategy brings together five focus areas: colleagues and communities; responsible snacking; carbon; packaging and waste; and responsible sourcing.
Sridhar Ramamurthy, Chief Financial Officer, pladis, said:
“pladis delivered a resilient performance in 2025, growing revenue to £3.3 billion and maintaining market-leading positions in the UK, Türkiye, Saudi Arabia, Egypt and elsewhere. This reflects the enduring strength of our branded portfolio and the focus and commitment of our teams around the world. It was achieved in a year that tested every part of the food industry – from commodity inflation and currency volatility to broader macroeconomic headwinds.
“Our private, family-owned structure gives us the freedom to take a long-term view, beyond the reporting cycle. That perspective shapes how we invest in the business: in 2025, we invested £100 million in capital expenditure to support efficiency, capacity and resilience, while continuing to innovate across our priority brands.
“We are building from a strong commercial platform and our priorities remain clear: to keep building our brands, bring innovation to scale, accelerate digitalisation and manage cost, cash and capital with rigour. That combination of long-term investment and financial discipline is central to strengthening our competitiveness and creating value over time so that we can continue bringing happiness with every bite.”
