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Howdens Factsheet

Howdens knows what it stands for: to help our trade customers achieve exceptional results for their customers and to profit from doing so. When our customers succeed, we succeed.

759

Depots

(includes 25 French and 2 Belgian depots)

£261m

2019 Profit

profit before tax (2018: £239m)

£1.6bn

2019 Revenue

revenue (2018: £1.5bn)

howdens-annual-report-accounts-2019

A foundation for success

Our business thrives on three core principles that are underpinned by our entrepreneurial culture. These include our trade service and convenience, product leadership, and trade value.

UK's Number 1 Trade Kitchen Supplier

 

  • Howdens was founded in 1995 and has grown rapidly. In 2019, Howdens reported annual sales of around £1.6bn, with profit before tax of £260.7m. Howdens operates more than 700 depots across the UK, and sees scope for up to 850 depots
  • Howdens addresses the 'done for you' market, selling kitchens and joinery from local depots exclusively to trade professionals, who then install them for end-users in all parts of the UK market - owner occupiers, private landlords, local authorities, housing trusts and small developers
  • Howdens supplies over 470,000 account holders, all building trade professionals, with 4.4 million kitchen cabinets, 2.5 million doors and 1m worktops and breakfast bars each year
  • Howdens offers over 100 kitchen styles organised into design 'families' for easy comparison and selection. As well as kitchen cabinets and frontals, Howdens sells appliances, sinks, taps, worktops, flooring, hardware, lighting and a wide range of joinery doors, skirting and architraves that co-ordinate with the different range

Financial highlights

Continuing operations (before exceptional items) - financial figures for the company for the past 3 years
£m unless statedFY17FY18FY19
Continuing operations (before exceptional items)
Revenue - Group1,403.81,511.31,583.6
Revenue - UK depots1,372.01,477.3
1,550.3
Gross margin63.3%61.7%
62.3%
Operating profit234.4240.1
260.0
Profit before tax232.2238.5
260.7
Basic earnings per share29.9p31.3p
35.0
Dividend per share11.1p11.6p
13.0p
Net cash at year-end241.1231.3
267.4
Number of depots (UK)661694
732

1. Focus on one customer

Howdens is focused solely on the small builder and everything the business does is geared towards making the builder's life easier. Howdens offers builders a relevant, well-designed, high-quality range of kitchens, together with appliances, joinery, flooring and hardware, via trade-only depots that are always in stock. The builder benefits from a confidential discount and good credit terms that allow him to manage his business and determine an appropriate margin for each job he undertakes.

 

in-the-community

2. Entrepreneurialism, accountability and control

Each of our local depots are dedicated to helping local tradespeople build their businesses.  The depot manager’s autonomy is a key element of Howdens’ business model. Depot managers hire their own staff, do their own local marketing, set local pricing, manage the level of discount applied to their account holders and manage their own stock levels to suit their own local customers.

Entrepreneurialism, accountability & control

3. Manufacturing and Design

Our own supply chain serve over 700 local depots nationwide. This means our distribution operation has to be attuned to the different needs of around 700 depots. No two deliveries are alike, and each one must be correct, complete and on time.
Trusted supplier relationships and efficient, sustainable UK manufacturing and distribution helps ensure consistent product quality and availability at the lowest cost. We make what it makes sense to make, and we buy what it makes sense to buy.

 

Low-cost operations

UK's Number 1 Trade Kitchen Supplier

Howdens supply kitchen and joinery products to over 470,000 trade professionals, including 4.4 million kitchen cabinets, 2.5 million doors and 1m worktops and breakfast bars each year. We are a highly profitable, cash-generative business with significant scope for further growth. The business has identified scope for up to 850 depots in the UK, in 2019 we opened 38 new depots, including five in Northern Ireland. Howdens also expects to be able to realise further growth from the 25% of depots that are not yet mature, and to effect continuing performance improvements across its depot portfolio. Howdens benefits from a flexible, scalable infrastructure that will allow it to deliver further efficiencies as the business grows.

Low-cost operations

Contacts

Media Enquiries

Journalists should contact:

Citigate Dewe Rogerson

[email protected]

For image requests, please contact:

[email protected]

Investor Relations

Institutional investors and analysts should contact:

Guy Stainer
Head of Investor Relations

 

Howden Joinery Group Plc
40 Portman Square
London
W1H 6LT

 

Tel: 020 7535 1164

Email: [email protected]