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Overview of performance in 2020

Howdens performed well during 2020. We adapted to COVID trading conditions and progressed our strategic plans for the business. Our performance demonstrates the strength of our trade only business model and our ability to evolve the business while prioritising the health and wellbeing of our staff and customers.

Following a sharp drop in sales in quarter two when the UK entered its first national lockdown, our performance improved significantly in the second half, with sales up 16% compared to the equivalent period in 2019, as we benefitted from pent-up demand and the consumer’s desire to invest in their homes. The year ended strongly with profit and cash flow ahead of expectations and we were able to repay the Government furlough and other support taken earlier in the year. We are also pleased to be resuming dividend payments.

During the year:

  • 16 new depots were opened in the UK and four new depots were opened in France
  • We completed the final phase of our Raunds distribution centre development
  • Introduced 18 new kitchen ranges, with the new Hockley ranges having cabinet doors manufactured by Howdens
  • Continued to improve our digital services, both to our trade customers and to the end consumer to reinforce the Howdens model

£1.5bn

Revenue (2019: £1.6bn)

60.1%

Gross margin (2019: 62.3%)

£196m

Operating profit (2019: £260m)

£185m

Profit before tax (2019: £261m)

£431m

Net cash (2019: £267m)

18.2p

Total full-year dividend per share for 2020 (9.1p 2020 final dividend and 9.1p special dividend in lieu of cancelled 2019 final dividend)

Download 2020 annual report

2020 Annual Report

Download a copy of the 2020 Annual Report

Financial Highlights

Chairman’s statement

Chief Executive’s statement

Shareholder Information

For further information please use the links below

HOWDENS Making space more valuable

Business Model and Strategy

Find out more about our business model and strategy, the markets in which we operate and our strategic approach to protect our unique business model and ensure that the business continues to grow.

Depots

As a familiar sight across towns and cities in the UK and Europe, our depots are always within easy reach, so a trade professional never has far to travel to find their nearest Howdens. Get to know more about how each one operates.

Sustainability

Our sustainable behaviour is at the heart of our business and enables us to reduce some of our risks. We take great pride in ensuring that our business positively impacts the world around us and the people within it.

Community

We are passionate about supporting the local communities we operate in, which is why our depots and support staff actively seek ways to give something back. Whether it is running half marathons or sponsoring local Scout groups, discover the many ways we help good causes.

Products

With nearly 65 kitchen ranges, our exclusive Lamona appliance brand, and thousands of products across joinery and hardware, learn why our builders have come to trust the range and quality of the products we offer.

People and Careers

The Sunday Times named Howdens as one of the top 25 big companies to work for. Discover why Howdens is a great place to work, how we develop our people and reward them, whilst building a culture with an entrepreneurial spirit.

Financial Results

Download copies of the latest financial results for Howdens both past and present including the associated presentations and Interim Management Statements released between results announcements.

Governance

Howdens is a responsible business which was founded on the tenet that the Company should be worthwhile for all concerned, with a commitment to the people within its reach and the wider world. Here we provide the links to the framework that informs our decisions and outcomes.