Interim Results Statement
Summary by AI BETAClose X
Origin Enterprises plc
INTERIM RESULTS STATEMENT
Solid H1 performance; Group operating profit up 2.4%, driven by growth in Living Landscapes
3 March 2026: Origin Enterprises plc ('Origin' or 'the Group'), the international group shaping the future of sustainable land use solutions, today announces its interim results for the half-year ended 31 January 2026 ('H1 2026').
|
Results Summary |
31 Jan 2026 €'m |
31 Jan 2025 €'m |
Change €'m |
|
Group revenue |
852.6 |
831.7 |
20.9 |
|
Operating profit1 |
15.1 |
14.9 |
0.2 |
|
Associates and joint venture2 |
2.3 |
2.1 |
0.2 |
|
Total Group operating profit1 |
17.4 |
17.0 |
0.4 |
|
Finance cost, net |
(11.3) |
(10.0) |
(1.3) |
|
Profit before tax1 |
6.1 |
7.0 |
(0.9) |
|
Adjusted diluted earnings per share (cent)3 |
4.55 |
5.17 |
(0.62) |
|
Group net bank debt4 |
(283.5) |
(270.1) |
(13.4) |
|
Interim dividend per ordinary share (cent) |
3.15 |
3.15 |
- |
Financial and Operational Highlights
· Solid H1 Revenue growth of 5.1% constant currency, supported by underlying volume growth of 1.4%.
· Total Group operating profit¹ of €17.4 million, an increase of 2.4% on the prior year.
· Agriculture:
o H1 profit performance was broadly in line with prior year, with growth in Ireland/UK and Latin America (LATAM) offset by a reduction in Central Europe (CE).
o Planted areas in the UK are ahead of prior year and crop development is progressing well. A continued move towards winter planting is evident in CE, building on last year's growth, with crop development progressing well across both countries. An expanded soybean and corn area in LATAM is driving volume growth despite a challenging environment.
o Weaker grain, oilseed and dairy prices continue to dampen farm sentiment, influencing timing and commitment to spend.
· Living Landscapes:
o Good H1 performance, with operating profit up 8.3%, driven by early season organic growth in the Sports and Landscapes businesses. Our Environmental business recorded a like-for like decline in H1 reflecting project timing delays; however, with the benefit of acquisitions, delivered year on year growth.
o Demand across Living Landscapes has had a robust start to the second half of the year.
· Associates and joint ventures made a strong contribution to the first half, reflecting sustained demand for animal nutrition products in the Irish market.
· Adjusted EPS of 4.55 cent (H1 2025: 5.17 cent) with H1 performance reflecting improved operating profit performance impacted by higher finance costs as a result of higher average debt. As in prior years, operating profit is second half weighted.
· Net bank debt of €283.5 million (H1 2025: €270.1 million), reflects seasonal working capital requirements and inventory positioning in advance of the introduction of CBAM (Carbon Border Adjustment Mechanism) charges from 1 January 2026.
· Extension of the Group's €440 million sustainability-linked revolving credit facility by one year to 31 January 2031.
· Interim dividend has been maintained at 3.15 cent per share (H1 2025: 3.15 cent per share).
· Mr. John Hennessy was appointed to the Board on 1 January 2026 and will succeed Mr. Gary Britton as Chairman on 04 March 2026.
· Capital Markets Day to be held in London on 17 November 2026.
Commenting on Origin's interim results, Chief Executive Officer, Sean Coyle said:
"The Group delivered a solid first-half performance. Activity across both Agriculture and Living Landscapes was in line with expectations, establishing a strong operational base across our markets as we move into the more significant second half.
In Agriculture planting activity across our markets has set an encouraging platform for the remainder of the year, while on-farm sentiment remains cautious given output prices.
Our Animal and Soil Nutrition businesses had a strong performance, and our order books are well positioned for the second half. Despite the introduction of CBAM and broader geopolitical uncertainty, we have actively managed the factors within our control and continue to work closely with customers to ensure clarity on pricing, product availability and service delivery throughout the season.
In our Agronomy businesses well-established cropping areas across key markets provide a solid base for second half activity.
Living Landscapes had a good first half driven by Sports and Landscapes combined with acquisition-led growth in Environmental. The integration of recent acquisitions continues to progress well and provides a solid foundation for the second half of the year. We have an active pipeline of further acquisitions in this segment and remain excited about its performance and prospects.
Planting areas and crop conditions are good across our markets, and demand for animal and soil nutrition products has been solid. Consistent with prior years, significant levels of spring volumes are still to be delivered across all of our businesses and guidance for FY 2026 will be issued with our Q3 trading update on 11 June 2026.
We will host a Capital Markets Day in London on 17 November 2026, where we will set out our next five-year strategy, including our capital allocation framework and growth ambitions.
I am pleased to welcome John Hennessy to the Board and look forward to working with him as Chairman. I would like to thank Gary Britton for his considerable contribution to Origin as a Board member, particularly over the last three years in his role as Chairman."
ENDS
Conference Call and Webcast details:
The management team will host a live conference call and webcast, for analysts and institutional investors today, 3 March 2026, at 08:30 (Irish/UK time). Registration details for the Conference Call and Webcast can be accessed at: www.originenterprises.com
Alternatively, please contact FTI Consulting by email at originenterprises@fticonsulting.com
Participants are requested to dial in 5 to 10 minutes prior to the scheduled start time.
1 Before amortisation of non-ERP intangible assets and exceptional items
2 Profit after interest and tax
3 Before amortisation of non-ERP intangible assets, net of related deferred tax (2026: €4.7 million, 2025: €4.7 million) and exceptional items, net of tax (2026: charge of €3.7 million, 2025: income of €10.5 million)
4 Net bank debt excludes IFRS16 Lease liabilities
INTERIM RESULTS STATEMENT
Financial Review - Summary
|
|
6 months ended 31 Jan 2026 €'m |
6 months ended 31 Jan 2025 €'m |
|
|
|
|
|
Group revenue |
852.6 |
831.7 |
|
Operating profit1 |
15.1 |
14.9 |
|
Associates and joint venture, net2 |
2.3 |
2.1 |
|
Adjusted Group operating profit1 |
17.4 |
17.0 |
|
Finance cost, net |
(11.3) |
(10.0) |
|
Pre-tax profit |
6.1 |
7.0 |
|
Income tax charge |
(1.0) |
(1.2) |
|
Adjusted net profit |
5.1 |
5.8 |
|
|
|
|
|
Adjusted diluted earnings per share (cent)3 |
4.55 |
5.17 |
|
|
|
|
|
|
|
|
|
Adjusted net profit reconciliation |
|
|
|
Reported net (loss)/profit |
(3.3) |
11.7 |
|
Amortisation of non-ERP intangible assets |
5.9 |
5.9 |
|
Tax on amortisation of non-ERP related intangible assets |
(1.2) |
(1.3) |
|
Exceptional items, net of tax |
3.7 |
(10.5) |
|
Adjusted net profit |
5.1 |
5.8 |
|
|
|
|
Adjusted diluted earnings per share
Origin delivered adjusted diluted earnings per share3 in H1 2026 of 4.55 cent compared to 5.17 cent in H1 2025. On a like-for-like basis (excluding the impact of currency movements and acquisitions) the underlying decrease in adjusted diluted earnings per share3 was 1.05 cent.
Group revenue
Group revenue for H1 2026 increased by 2.5% to €852.6 million (H1 2025: €831.7 million). On a constant currency basis, revenue increased by €42.4 million (5.1%).
Excluding crop marketing, revenue grew by 4.3% (€32.0 million), driven by underlying volume growth of 2.3% and a 1.0% contribution from prior year Living Landscapes acquisitions. A 3.0% foreign exchange headwind was more than offset by pricing movements of 4.0%, primarily reflecting higher price levels for global fertiliser raw materials.
Operating profit1
Operating profit¹ for H1 2026 was €15.1 million (H1 2025: €14.9 million), an increase of 1.3%. On an underlying basis, operating profit was 2.0% lower year-on-year. Foreign exchange movements had a marginal positive impact of 0.2% on reported operating profit.
Associates and joint venture2
Origin's share of profit after interest and taxation from associates and joint venture amounted to €2.3 million, a €0.2 million increase on H1 2025, reflecting strong demand for animal feed in H1.
Exceptional items
€3.7 million exceptional costs (net of tax) in the period consist primarily of costs in respect of the facilitation of payments to suppliers which had been previously suspended in accordance with international sanctions in response to the Russian invasion of Ukraine in 2022.
Net bank debt and financing costs
Net bank debt5 at 31 January 2026 was €283.5 million compared to €270.1 million at 31 January 2025 and is 2.44 times EBITDA4 for the twelve months to 31 January 2026.
The increase in net bank debt, for the 12-month period ended 31 January 2026 is largely driven by an increase in working capital.
During the period, the Group exercised its option to extend its €440 million sustainability-linked revolving credit facility ('RCF') by one year to 31 January 2031. Subsequent to the period end, confirmation was received by each lender extending the RCF facility to 31 January 2031, with one further option remaining to extend by a further year.
Net finance costs amounted to €11.3 million compared to €10.0 million in H1 2025. The increase in net finance costs in the period was primarily driven by higher average net debt levels year on year. At period end, the Group's key banking covenants are as follows:
|
|
Banking Covenant |
H1 2026 Times |
H1 2025 Times |
FY 2025 Times |
|
|
|
|
|
|
|
|
|
|
|
Net debt to EBITDA |
Maximum 3.5 |
2.44 |
2.42 |
0.58 |
|
|
|
|
|
|
|
|
|
|
|
EBITDA to net interest |
Minimum 3.0 |
6.37 |
6.64 |
7.21 |
|
|
Working capital
Following the seasonal investment in working capital in the period, the net cash outflow from operating activities was €200.7 million (H1 2025: €175.3 million). Working capital at 31 January 2026 amounted to €235.8 million compared to €200.8 million in the prior period. Investment in working capital in the period was largely driven by an increase in inventory in advance of the introduction of CBAM charges in January 2026, in addition to volume related increases in trading. The period end working capital position includes a €5.7 million balance due to sanctioned parties which had been previously suspended in accordance with international sanctions imposed by authorities in response to the Russian invasion of Ukraine in 2022.
Sustainability
The Group continues to align its product and service offering with evolving customer requirements and regulatory developments across its markets, delivering practical, technically-led solutions that support productivity, environmental performance and compliance.
During the period, integration of recent acquisitions further strengthened our environmental and ecology platform, extending our capabilities across habitat creation, biodiversity services and environmental advisory. Within Agriculture, innovation continues across biostimulants, adjuvants, micronutrients and soil nutrition, improving input efficiency and supporting sustainable land use. The Group remains focused on delivery of its Science Based Targets transition plan, supported by continued investment in fleet electrification, facility upgrades and enhanced data and reporting systems.
Interim dividend
We are pleased to announce that an interim dividend of 3.15 cent per share will be paid on 19 June 2026 to shareholders on the register on 29 May 2026.
1 Before amortisation of non-ERP intangible assets and exceptional items
2 Profit after interest and tax
3 Before amortisation of non-ERP intangible assets, net of related deferred tax (2026: €4.7 million, 2025: €4.7 million) and exceptional items, net of tax (2026: charge of €3.7 million, 2025: income of €10.5 million)
4 Net debt/EBITDA ratio as per the requirements of the Group's syndicated bank loan agreement
5 Net bank debt excludes IFRS16 Lease liabilities
Review of Operations
Group Overview
|
|
|
|
Change on prior period |
||||||||
|
|
H1 2026
€'m |
H1 2025
€'m |
Change
€'m |
Underlying4
€'m |
Constant Currency5 €'m |
||||||
|
|
|
|
|
|
|
||||||
|
Revenue |
|
|
|
|
|
||||||
|
Agriculture |
766.5 |
756.5 |
10.0 |
28.2 |
28.2 |
||||||
|
Living Landscapes |
86.1 |
75.2 |
10.9 |
6.8 |
14.2 |
||||||
|
Group |
852.6 |
831.7 |
20.9 |
35.0 |
42.4 |
||||||
|
Operating profit1 |
|
|
|
|
|
||||||
|
Agriculture |
11.0 |
11.1 |
(0.1) |
(0.3) |
(0.3) |
||||||
|
Living Landscapes |
4.1 |
3.8 |
0.3 |
- |
0.5 |
||||||
|
Group |
15.1 |
14.9 |
0.2 |
(0.3) |
0.2 |
||||||
|
|
|
|
|
|
|
||||||
|
Associates and joint venture2 |
2.3 |
2.1 |
0.2 |
0.3 |
0.3 |
||||||
|
Adjusted diluted EPS (cent)3 |
4.55 |
5.17 |
(0.62) |
(1.05) |
(0.74) |
||||||
|
|
|
|
|
|
|
||||||
|
1 Before amortisation of non-ERP intangible assets and exceptional items |
|||||||||||
|
2 Profit after interest and tax |
|||||||||||
|
3 Before amortisation of non-ERP intangible assets, net of related deferred tax (2026: €4.7 million, 2025: €4.7 million) and exceptional items, net of tax (2026: charge of €3.7 million, 2025: income of €10.5 million) |
|||||||||||
|
4 Excluding currency movements and the impact of acquisitions |
|||||||||||
|
5 Excluding currency movements
|
|||||||||||
Agriculture:
Ireland and the United Kingdom
|
|
|
|
Change on prior period |
||||||
|
|
H1 2026
€'m |
H1 2025
€'m |
Change
€'m |
Underlying3
€'m |
Constant Currency4 €'m |
||||
|
|
|
|
|
|
|
||||
|
Revenue |
438.0 |
430.5 |
7.5 |
23.1 |
23.1 |
||||
|
Operating (loss)1 |
(0.9) |
(1.2) |
0.3 |
0.1 |
0.1 |
||||
|
|
|
|
|
|
|
||||
|
Associates and joint venture2 |
2.3 |
2.1 |
0.2 |
0.3 |
0.3 |
||||
|
|
|
|
|
|
|
||||
|
1 Before amortisation of non-ERP intangible assets and exceptional items |
|||||||||
|
2 Profit after interest and tax |
|||||||||
|
3 Excluding currency movements and the impact of acquisitions |
|||||||||
|
4 Excluding currency movements
|
|||||||||
Ireland and the United Kingdom delivered revenue growth of €7.5 million in the period. The operating loss reduced from €1.2 million in H1 2025 to €0.9 million in the current year. As in prior years, earnings are weighted towards the second half of the financial year.
Trading was supported by strong demand for fertiliser ahead of the spring application season, with growers advancing purchases in anticipation of price movements, alongside a recovery in UK winter cropping areas and sustained demand for animal nutrition through Q2, supporting both volume and pricing progression.
However, in the UK, there has been a cautious approach to pre-season purchases of seed and crop protection, due to the ongoing impact of soft crop prices on grower sentiment.
Sustainable Agronomy
Agronomy revenue increased by 1.6% during H1 2026, driven by fertiliser demand and global pricing. Improved planting conditions and an earlier harvest supported autumn drilling, resulting in winter wheat area rising approximately 4% year-on-year to c.1.7 million hectares and oilseed rape increasing to c.0.25 million hectares (c.19% year-on-year growth). Crop establishment across key cereal regions has been reported as satisfactory.
Growers selectively brought forward some of their fertiliser purchases in anticipation of price movements, while input commitments across seed and crop protection remained disciplined. Lower output price levels and tighter farm margins continue to influence sentiment within the arable sector, with farmers maintaining prudent working capital management.
Total autumn and spring plantings for the 2025/26 production year are expected to be largely in line with prior year at just over 4 million hectares.
Soil Nutrition
Soil Nutrition delivered a good first-half performance, supported by globally firmer fertiliser pricing and pre-season demand across Ireland and the UK.
Fertiliser markets strengthened through the period, reflecting tighter global nitrogen supply and the phased introduction of the EU Carbon Border Adjustment Mechanism ("CBAM"), which applies a carbon cost to certain fertiliser imports into the EU to align them with EU carbon pricing. This has contributed to greater price differentiation between EU and non-EU product, contributing to increased pricing across the market.
In Ireland, improved visibility on CBAM implementation and pricing trends led to increased order intake ahead of the main spring application window. Market dynamics continue to reflect grassland-led demand and evolving regulatory measures.
In the UK, purchasing behaviour remained more progressive through the winter, with selective forward buying ahead of price movements. Consistent with our agronomy operations, lower crop prices and margin considerations continue to influence purchasing behaviour.
Across both markets, the Group enters the second half with a strong short term order book and appropriate inventory positioning to meet expected customer demand.
Animal Nutrition
Feed Ingredients delivered a good H1 2026 performance and growth against a strong H1 2025 performance. John Thompson & Sons Limited, the Group's 50%-owned associate, also delivered a good performance. Feed demand remained strong over H1 supported by resilient protein prices, although milk prices have reduced in recent months.
Continental Europe1
|
|
|
|
Change on prior period |
||||||
|
|
H1 2026
€'m |
H1 2025
€'m |
Change
€'m |
Underlying3
€'m |
Constant Currency4 €'m |
||||
|
|
|
|
|
|
|
||||
|
Revenue |
233.8 |
236.0 |
(2.1) |
(1.0) |
(1.0) |
||||
|
Revenue1 (excl. crop marketing) |
160.3 |
151.4 |
8.9 |
10.8 |
10.8 |
||||
|
Operating profit2 |
0.6 |
1.5 |
(0.9) |
(1.0) |
(1.0) |
||||
|
Operating profit1,2 (excl. crop marketing) |
0.6 |
1.2 |
(0.6) |
(0.7) |
(0.7) |
||||
|
|
|
|
|
|
|
||||
|
1 Excluding crop marketing. While crop marketing has a significant impact on revenue, its impact on operating profit is insignificant. An analysis of revenue and profit attributable to agronomy services and inputs more accurately reflects the underlying drivers of business performance |
|||||||||
|
2 Before amortisation of non-ERP intangible assets and exceptional items |
|||||||||
|
3 Excluding currency movements and the impact of acquisitions |
|||||||||
|
4 Excluding currency movements
|
|||||||||
Continental Europe delivered a solid start to the year, with revenue growth of 5.9% in the first half, primarily reflecting volume growth and price inflation in Romania, reflecting global fertiliser prices. Operating profit reduced to €0.6 million for CE in the seasonally quieter period, reflecting lower volumes in Poland, an underlying improved operating performance in Romania and the impact of provision for credit risk in Romania.
Underlying volumes (excluding crop marketing) increased by 1.8% across the region, supported by stable cropping areas and satisfactory winter crop establishment. Soil moisture levels have improved entering the spring period, providing a more supportive agronomic backdrop following recent volatility in seasonal conditions.
Poland
Poland made a robust start against a strong prior-year comparator. Lower volumes in certain categories reflected competitive market dynamics and more measured farmer purchasing, particularly in fertiliser, with procurement activity weighted toward later in the season. Trading momentum improved toward period end, with stronger run-rates and a healthy order position heading into the seasonally more significant Q3.
Autumn and winter plantings are broadly in line with the prior year harvested area at approximately 5.3 million hectares, with winter crops generally well established and total cropping area for 2026 anticipated to remain broadly consistent with last year at approximately 8.8 million hectares.
Romania
Romania delivered an improved first-half performance, supported by growth across product categories and a continued rotation toward winter cropping (+4.4% YoY; +21% vs 2024), as growers seek to mitigate spring drought risk following recent dry seasons. Total cropping is expected to remain broadly stable at 8.2m hectares. Farm sentiment remains cautious but is gradually improving as soil moisture conditions have stabilised over winter, supporting crops into the spring, while confidence continues to be tempered by the impact of recent droughts on farm cash flow and continuing credit challenges in the market.
Latin America
|
|
|
|
|
Change on prior period |
||||||||
|
|
H1 2026
€'m |
H1 2025
€'m |
Change
€'m |
Underlying2
€'m |
Constant Currency3 €'m |
|||||||
|
|
|
|
|
|
|
|||||||
|
Revenue |
|
94.8 |
90.1 |
4.7 |
6.1 |
6.1 |
||||||
|
Operating profit1 |
|
11.3 |
10.8 |
0.5 |
0.8 |
0.8 |
||||||
|
|
|
|
|
|
|
|
||||||
|
1 Before amortisation of non-ERP intangible assets and exceptional items 2 Excluding currency movements and the impact of acquisitions 3 Excluding currency movements
|
|
|
|
|||||||||
Latin America delivered a solid underlying performance with volumes up 3.1%, driven by continued growth in Controlled Release Fertiliser (CRF) and biological products offset partially by lower volumes in some speciality product categories. Operating profit increased 5% to €11.3 million, with volume growth and cost management being partially offset by the negative mix impact from the higher weighting of lower-margin CRF sales.
Brazil's cropping fundamentals remain supportive, with soybean planted area projected at approximately 49 million hectares (up 3.8% year-on-year) and production forecast at 181 million tonnes. Safrinha (second crop) corn plantings are underway with total planting areas expected to be in line with prior year. While expanded planting underpins demand for crop inputs, a cautious approach to credit sales is being proactively adopted given market challenges. Lower output pricing has resulted in more disciplined purchasing and market pricing.
Currency movements in the Brazilian Real had a modest translational impact on reported euro results with underlying performance in local currency remaining robust.
Living Landscapes:
|
|
|
|
|
Change on prior period |
||||||||
|
|
H1 2026
€'m |
H1 2025
€'m |
Change
€'m |
Underlying2
€'m |
Constant Currency3 €'m |
|||||||
|
|
|
|
|
|
|
|||||||
|
Revenue |
|
86.1 |
75.2 |
10.9 |
6.8 |
14.2 |
||||||
|
Operating profit1 |
|
4.1 |
3.8 |
0.3 |
- |
0.5 |
||||||
|
1 Before amortisation of non-ERP intangible assets and exceptional items 2 Excluding currency movements and the impact of acquisitions 3 Excluding currency movements
|
|
|
|
|||||||||
Living Landscapes delivered a good first-half performance, with operating profit increasing 8.3% to €4.1 million. Growth reflected strong contributions from Sports and Landscapes, with Environmental like for like performance behind last year due to the timing of projects but showing growth with the inclusion of acquisitions.
Sports had a good performance in the period which benefited from sustained demand for performance-led and technical solutions, driven by a focus on surface recovery post the impact of last summer's drought and a push to ensure year-round playability across professional and municipal facilities.
Landscapes also had a good performance, supported by expanded product capability following recent acquisitions and ongoing investment in green infrastructure.
Environmental activity was robust in the period supported by compliance-driven demand, including Biodiversity Net Gain. The timing of contract awards and mobilisation impacted like for like profitability in the first-half, with earnings expected to be weighted toward the second half. Jon Garner succeeded Mark Webb in the period as Managing Director of Environmental. Jon has been a key part of the Environmental team following the acquisition of GE Consulting in 2024 of which he was the founder and Director.
ENDS
Enquiries
|
Origin Enterprises plc |
|
|
|
Colm Purcell |
|
|
|
Chief Financial Officer |
Tel: |
+353 (0)1 563 4900 |
|
|
|
|
|
Brendan Corcoran |
|
|
|
Head of Investor Relations |
Tel: |
+353 (0)1 563 4900 |
|
|
|
|
|
Goodbody (Euronext Growth (Dublin) Adviser) |
|
|
|
Jason Molins |
Tel: |
+353 (0)1 641 9278 |
|
|
|
|
|
Davy (Nominated Adviser) |
|
|
|
Anthony Farrell |
Tel: |
+353 (0)1 614 9993 |
|
|
|
|
|
Berenberg (Corporate Broker) |
|
|
|
Clayton Bush |
Tel: |
+44 (0)20 3207 7800 |
|
|
|
|
|
FTI Consulting (Financial Communications Advisers) |
|
|
|
Jonathan Neilan / Patrick Berkery / Conor Pierce |
Tel: |
+353 (0)86 602 5988 |
About Origin Enterprises plc
Origin Enterprises plc champions sustainable land use through technically-led solutions, empowering our customers to enrich their land so it can achieve its true potential. The Group has leading market positions in Ireland, the United Kingdom, Brazil, Poland and Romania, and is listed on the Euronext Growth Dublin market and the AIM market of the London Stock Exchange.
Euronext Growth (Dublin) ticker symbol: OIZ
AIM ticker symbol: OGN
Website: www.originenterprises.com
Origin Enterprises plc
Condensed Interim Consolidated Income Statement
for the six months ended 31 January 2026
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Six months |
|
Six months |
|
Six months |
|
Six months |
|
Year |
|
|
|
ended |
|
ended |
|
ended |
|
ended |
|
ended |
|
|
|
January |
|
January |
|
January |
|
January |
|
July |
|
|
|
2026 |
|
2026 |
|
2026 |
|
2025 |
|
2025 |
|
|
|
Pre-exceptional |
|
Exceptional |
|
Total |
|
Total |
|
Total |
|
|
|
€'000 |
|
€'000 |
|
€'000 |
|
€'000 |
|
€'000 |
|
|
Notes |
|
|
Note 6 |
|
|
|
Note 8 |
|
Note 8 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Revenue |
5 |
852,610 |
|
- |
|
852,610 |
|
831,676 |
|
2,109,146 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of sales |
|
(709,163) |
|
- |
|
(709,163) |
|
(689,546) |
|
(1,750,806) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross profit |
|
143,447 |
|
- |
|
143,447 |
|
142,130 |
|
358,340 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating costs |
|
(134,275) |
|
(3,880) |
|
(138,155) |
|
(128,983) |
|
(288,241) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Share of profit of associates and joint venture |
2,328 |
|
- |
|
2,328 |
|
9,138 |
|
16,541 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating profit |
5 |
11,500 |
|
(3,880) |
|
7,620 |
|
22,285 |
|
86,640 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Finance income |
|
2,403 |
|
- |
|
2,403 |
|
4,888 |
|
4,991 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Finance expense |
|
(13,748) |
|
- |
|
(13,748) |
|
(14,911) |
|
(24,951) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Loss)/Profit before income tax |
|
155 |
|
(3,880) |
|
(3,725) |
|
12,262 |
|
66,680 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Income tax credit/(expense) |
|
297 |
|
169 |
|
466 |
|
(607) |
|
(13,927) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Loss)/Profit attributable to equity shareholders |
452
|
|
(3,711) |
|
(3,259) |
|
11,655 |
|
52,753 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Six months |
|
Six months |
|
Year |
|
|
|
|
|
|
|
ended |
|
ended |
|
ended |
|
|
|
|
|
|
|
January |
|
January |
|
July |
|
|
|
|
|
|
|
2026 |
|
2025 |
|
2025 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic (loss)/earnings per share |
7 |
|
|
|
|
(3.04c) |
|
10.98c |
|
49.59c |
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted (loss)/earnings per share |
7 |
|
|
|
|
(3.04c) |
|
10.42c |
|
47.20c |
Origin Enterprises plc
Condensed Interim Consolidated Statement of Comprehensive Income
for the six months ended 31 January 2026
|
|
|
|
|
|
|
|
|
Six months |
|
Six months |
|
Year |
|
|
ended |
|
ended |
|
ended |
|
|
January |
|
January |
|
July |
|
|
2026 |
|
2025 |
|
2025 |
|
|
€'000 |
|
€'000 |
|
€'000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(Loss)/profit for the financial period |
(3,259) |
|
11,655 |
|
52,753 |
|
|
|
|
|
|
|
|
Other comprehensive income/(expense) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Items that are not reclassified subsequently to the Group income statement: |
|
|
|
|
|
|
Group/Associate defined benefit pension obligations |
|
|
|
|
|
|
- remeasurements of Group's defined benefit pension schemes |
(111) |
|
(948) |
|
(18) |
|
- deferred tax effect of remeasurements |
50 |
|
225 |
|
(36) |
|
- share of remeasurements on associate's defined benefit pension schemes |
- |
|
- |
|
(290) |
|
- share of deferred tax effect of remeasurements - associates |
- |
|
- |
|
72 |
|
|
|
|
|
|
|
|
Items that may be reclassified subsequently to the Group income statement: |
|
|
|
|
|
|
Group foreign exchange translation details |
|
|
|
|
|
|
- exchange difference on translation of foreign operations |
2,518 |
|
2,261 |
|
(13,430) |
|
Group/Associate cash flow hedges |
|
|
|
|
|
|
- effective portion of changes in fair value of cash flow hedges |
(1,205) |
|
(1,132) |
|
(4,426) |
|
- fair value of cash flow hedges transferred to operating costs |
(1,354) |
|
1,785 |
|
2,447 |
|
- deferred tax effect of cash flow hedges |
543 |
|
(295) |
|
19 |
|
- share of associates and joint venture cash flow hedges |
(280) |
|
2,592 |
|
(742) |
|
- deferred tax effect of share of associates and joint venture cash flow hedges |
35 |
|
(324) |
|
93 |
|
|
|
|
|
|
|
|
Other comprehensive income/(expense) for the period, net of tax |
196 |
|
4,164 |
|
(16,311) |
|
|
|
|
|
|
|
|
Total comprehensive (expense)/income for the period attributable to equity shareholders |
(3,063) |
|
15,819 |
|
36,442 |
|
|
|
|
|
|
|
Origin Enterprises plc
Condensed Interim Consolidated Statement of Financial Position
as at 31 January 2026
|
|
|
|
January |
|
January |
|
July |
|
|
|
|
2026 |
|
2025 |
|
2025 |
|
|
Notes |
|
€'000 |
|
€'000 |
|
€'000 |
|
|
|
|
|
|
|
|
|
|
ASSETS |
|
|
|
|
|
|
|
|
Non-current assets |
|
|
|
|
|
|
|
|
Property, plant and equipment |
9 |
|
142,431 |
|
135,523 |
|
134,499 |
|
Right of use asset |
|
|
64,266 |
|
63,541 |
|
68,020 |
|
Investment properties |
|
|
8,500 |
|
8,500 |
|
8,500 |
|
Goodwill and intangible assets |
10 |
|
315,286 |
|
322,026 |
|
318,638 |
|
Investments in associates and joint venture |
11 |
|
38,963 |
|
43,916 |
|
47,312 |
|
Other financial assets |
|
|
888 |
|
921 |
|
892 |
|
Derivative financial instruments |
|
|
54 |
|
1,850 |
|
314 |
|
Deferred tax assets |
|
|
6,757 |
|
3,557 |
|
6,203 |
|
Post employment benefit surplus |
|
|
6,816 |
|
5,900 |
|
6,805 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total non-current assets |
|
|
583,961 |
|
585,734 |
|
591,183 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current assets |
|
|
|
|
|
|
|
|
Properties held for sale |
|
|
- |
|
5,800 |
|
5,800 |
|
Inventory |
|
|
316,396 |
|
296,475 |
|
228,854 |
|
Trade and other receivables |
|
|
429,518 |
|
365,438 |
|
469,450 |
|
Derivative financial instruments |
|
|
338 |
|
1,592 |
|
2,109 |
|
Cash and cash equivalents |
13 |
|
62,771 |
|
62,583 |
|
169,778 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total current assets |
|
|
809,023 |
|
731,888 |
|
875,991 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL ASSETS |
|
|
1,392,984 |
|
1,317,622 |
|
1,467,174 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Origin Enterprises plc
Condensed Interim Consolidated Statement of Financial Position (continued)
as at 31 January 2026
|
|
|
|
January |
|
January |
|
July |
|
|
|
|
2026 |
|
2025 |
|
2025 |
|
|
Notes |
|
€'000 |
|
€'000 |
|
€'000 |
|
|
|
|
|
|
|
|
|
|
EQUITY |
|
|
|
|
|
|
|
|
Called up share capital presented as equity |
14 |
|
1,197 |
|
1,253 |
|
1,197 |
|
Share premium |
|
|
160,526 |
|
160,526 |
|
160,526 |
|
Retained earnings and other reserves |
|
|
244,212 |
|
243,599 |
|
262,531 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL EQUITY |
|
|
405,935 |
|
405,378 |
|
424,254 |
|
|
|
|
|
|
|
|
|
|
LIABILITIES |
|
|
|
|
|
|
|
|
Non-current liabilities |
|
|
|
|
|
|
|
|
Interest-bearing borrowings |
13 |
|
336,245 |
|
328,179 |
|
240,551 |
|
Lease liability |
13 |
|
52,851 |
|
51,302 |
|
56,040 |
|
Deferred tax liabilities |
|
|
21,817 |
|
18,496 |
|
22,961 |
|
Provision for liabilities |
12 |
|
16,568 |
|
13,908 |
|
10,767 |
|
Put option liability |
|
|
2,587 |
|
- |
|
4,522 |
|
Derivative financial instruments |
|
|
762 |
|
758 |
|
817 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total non-current liabilities |
|
|
430,830 |
|
412,643 |
|
335,658 |
|
|
|
|
|
|
|
|
|
|
Current liabilities |
|
|
|
|
|
|
|
|
Interest-bearing borrowings |
13 |
|
10,058 |
|
4,489 |
|
70 |
|
Lease liability |
13 |
|
11,991 |
|
14,197 |
|
12,257 |
|
Trade and other payables |
|
|
510,079 |
|
461,067 |
|
674,702 |
|
Corporation tax payable |
|
|
2,264 |
|
2,552 |
|
10,323 |
|
Provision for liabilities |
12 |
|
2,837 |
|
2,588 |
|
9,282 |
|
Put option liability |
|
|
2,048 |
|
- |
|
416 |
|
Dividend payable to shareholders |
15 |
|
15,176 |
|
14,476 |
|
- |
|
Derivative financial instruments |
|
|
1,766 |
|
232 |
|
212 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total current liabilities |
|
|
556,219 |
|
499,601 |
|
707,262 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL LIABILITIES |
|
|
987,049 |
|
912,244 |
|
1,042,920 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL EQUITY AND LIABILITIES |
|
|
1,392,984 |
|
1,317,622 |
|
1,467,174 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Origin Enterprises plc
Condensed Interim Consolidated Statement of Changes in Equity
for the six months ended 31 January 2026
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Share- |
|
|
|
Foreign |
|
|
|
|
|
|
|
|
|
|
|
|
Capital |
|
Cashflow |
|
|
|
based |
|
|
|
currency |
|
|
|
|
|
|
Share |
|
Share |
|
Treasury |
|
redemption |
|
hedge |
|
Revaluation |
|
payment |
|
Re-organisation |
|
translation |
|
Retained |
|
|
|
|
capital |
|
premium |
|
shares |
|
reserve |
|
reserve |
|
reserve |
|
reserve |
|
reserve |
|
reserve |
|
earnings |
|
Total |
|
|
€'000 |
|
€'000 |
|
€'000 |
|
€'000 |
|
€'000 |
|
€'000 |
|
€'000 |
|
€'000 |
|
€'000 |
|
€'000 |
|
€'000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
At 1 August 2025 |
1,197 |
|
160,526 |
|
(46,966) |
|
201 |
|
(2,714) |
|
12,843 |
|
8,470 |
|
(196,884) |
|
(70,847) |
|
558,428 |
|
424,254 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loss for the period |
- |
|
- |
|
- |
|
- |
|
- |
|
- |
|
- |
|
- |
|
- |
|
(3,259) |
|
(3,259) |
|
Other comprehensive (expense)/income for the period |
- |
|
- |
|
- |
|
- |
|
(2,261) |
|
- |
|
- |
|
- |
|
2,518 |
|
(61) |
|
196 |
|
Re-issue of treasury shares |
- |
|
- |
|
2,002 |
|
- |
|
- |
|
- |
|
- |
|
- |
|
- |
|
(1,994) |
|
8 |
|
Change in fair value of put option |
- |
|
- |
|
- |
|
- |
|
- |
|
- |
|
- |
|
- |
|
- |
|
(88) |
|
(88) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Transfer of share-based payment reserve to retained earnings |
- |
|
- |
|
- |
|
- |
|
- |
|
- |
|
(1,354) |
|
- |
|
- |
|
1,354 |
|
- |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Dividend payable to shareholders (Note 15) |
- |
|
- |
|
- |
|
- |
|
- |
|
- |
|
- |
|
- |
|
- |
|
(15,176) |
|
(15,176) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
At 31 January 2026 |
1,197 |
|
160,526 |
|
(44,964) |
|
201 |
|
(4,975) |
|
12,843 |
|
7,116 |
|
(196,884) |
|
(68,329) |
|
539,204 |
|
405,935 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Origin Enterprises plc
Condensed Interim Consolidated Statement of Changes in Equity
for the six months ended 31 January 2025
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Share- |
|
|
|
Foreign |
|
|
|
|
|
|
|
|
|
|
|
|
Capital |
|
Cashflow |
|
|
|
based |
|
|
|
currency |
|
|
|
|
|
|
Share |
|
Share |
|
Treasury |
|
redemption |
|
hedge |
|
Revaluation |
|
payment |
|
Re-organisation |
|
translation |
|
Retained |
|
|
|
|
capital |
|
premium |
|
shares |
|
reserve |
|
reserve |
|
reserve |
|
reserve |
|
reserve |
|
reserve |
|
earnings |
|
Total |
|
|
€'000 |
|
€'000 |
|
€'000 |
|
€'000 |
|
€'000 |
|
€'000 |
|
€'000 |
|
€'000 |
|
€'000 |
|
€'000 |
|
€'000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
At 1 August 2024 |
1,253 |
|
160,526 |
|
(67,569) |
|
145 |
|
(105) |
|
12,843 |
|
7,602 |
|
(196,884) |
|
(57,417) |
|
544,536 |
|
404,930 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Profit for the period |
- |
|
- |
|
- |
|
- |
|
- |
|
- |
|
- |
|
- |
|
- |
|
11,655 |
|
11,655 |
|
Other comprehensive income/(expense) for the period |
- |
|
- |
|
- |
|
- |
|
2,626 |
|
- |
|
- |
|
- |
|
2,261 |
|
(723) |
|
4,164 |
|
Share buyback |
- |
|
- |
|
(1,850) |
|
- |
|
- |
|
- |
|
- |
|
- |
|
- |
|
- |
|
(1,850) |
|
Re-issue of treasury shares |
- |
|
- |
|
955 |
|
- |
|
- |
|
- |
|
- |
|
- |
|
- |
|
- |
|
955 |
|
Transfer of share-based payment reserve to retained earnings |
- |
|
- |
|
- |
|
- |
|
- |
|
- |
|
(664) |
|
- |
|
- |
|
664 |
|
- |
|
Dividend payable to shareholders |
- |
|
- |
|
- |
|
- |
|
- |
|
- |
|
- |
|
- |
|
- |
|
(14,476) |
|
(14,476) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
At 31 January 2025 |
1,253 |
|
160,526 |
|
(68,464) |
|
145 |
|
2,521 |
|
12,843 |
|
6,938 |
|
(196,884) |
|
(55,156) |
|
541,656 |
|
405,378 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Origin Enterprises plc
Condensed Interim Consolidated Statement of Cash Flows
for the six months ended 31 January 2026
|
|
|
Six months |
|
Six months |
|
Year |
|
|
|
ended |
|
ended |
|
ended |
|
|
|
January 2026 |
|
January 2025 |
|
July 2025 |
|
|
|
€'000 |
|
€'000 |
|
€'000 |
|
|
|
|
|
|
|
|
|
Cash flows from operating activities |
|
|
|
|
|
|
|
(Loss)/profit before tax |
|
(3,725) |
|
12,262 |
|
66,680 |
|
Exceptional items |
|
3,880 |
|
(11,232) |
|
(404) |
|
Finance income |
|
(2,403) |
|
(4,888) |
|
(4,991) |
|
Finance expense |
|
13,748 |
|
14,911 |
|
24,951 |
|
Profit on disposal of property, plant and equipment |
|
(135) |
|
(154) |
|
(856) |
|
Share of profit of associates and joint venture |
|
(2,328) |
|
(2,118) |
|
(9,048) |
|
Depreciation of property, plant and equipment |
|
5,370 |
|
4,760 |
|
10,624 |
|
Depreciation of right of use assets |
|
8,233 |
|
7,998 |
|
16,316 |
|
Amortisation of intangible assets |
|
7,692 |
|
7,277 |
|
16,133 |
|
Employee share-based payment charge |
|
- |
|
- |
|
2,564 |
|
Pension contributions in excess of service and administration costs |
|
30 |
|
43 |
|
115 |
|
Payment of exceptional Ukraine related costs |
|
(467) |
|
(764) |
|
(1,261) |
|
Payment of exceptional acquisition and disposal related costs |
|
(610) |
|
(1,254) |
|
(3,096) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating cash flow before changes in working capital |
|
29,285 |
|
26,841 |
|
117,727 |
|
|
|
|
|
|
|
|
|
Increase in inventory |
|
(87,381) |
|
(67,125) |
|
(3,680) |
|
Decrease in trade and other receivables |
|
41,573 |
|
113,386 |
|
2,766 |
|
Decrease in trade and other payables |
|
(168,782) |
|
(235,572) |
|
(16,861) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash (absorbed)/generated from operating activities |
|
(185,305) |
|
(162,470) |
|
99,952 |
|
|
|
|
|
|
|
|
|
Interest paid |
|
(6,817) |
|
(8,171) |
|
(15,985) |
|
Income tax paid |
|
(8,540) |
|
(4,706) |
|
(11,946) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash (outflow)/inflow from operating activities |
|
(200,662) |
|
(175,347) |
|
72,021 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Origin Enterprises plc
Condensed Interim Consolidated Statement of Cash Flows (continued)
for the six months ended 31 January 2026
|
|
|
Six months |
|
Six months |
|
Year |
|
|
|
ended |
|
ended |
|
ended |
|
|
|
January 2026 |
|
January 2025 |
|
July 2025 |
|
|
|
€'000 |
|
€'000 |
|
€'000 |
|
|
|
|
|
|
|
|
|
Cash flows from investing activities |
|
|
|
|
|
|
|
Proceeds from sale of property, plant and equipment |
|
1,981 |
|
768 |
|
2,802 |
|
Purchase of property, plant and equipment |
|
(9,371) |
|
(7,678) |
|
(16,148) |
|
Additions to intangible assets |
|
(4,110) |
|
(6,207) |
|
(13,349) |
|
Consideration relating to acquisition |
|
- |
|
(8,581) |
|
(15,666) |
|
Payment of contingent acquisition consideration |
|
(437) |
|
(1,463) |
|
(1,712) |
|
Investment in associates |
|
- |
|
(388) |
|
(386) |
|
Payment of put option liability |
|
(390) |
|
- |
|
- |
|
Dividends received from associates |
|
10,310 |
|
12,549 |
|
12,642 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash outflow from investing activities |
|
(2,017) |
|
(11,000) |
|
(31,817) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash flows from financing activities |
|
|
|
|
|
|
|
Drawdown of bank loans |
|
154,788 |
|
171,327 |
|
232,485 |
|
Repayment of bank loans |
|
(59,437) |
|
(40,383) |
|
(186,647) |
|
Lease liability payments |
|
(9,374) |
|
(9,148) |
|
(18,041) |
|
Share buyback |
|
- |
|
(1,850) |
|
(1,850) |
|
Proceeds from re-issue of treasury shares |
|
8 |
|
- |
|
- |
|
Payment of dividends to equity shareholders |
|
- |
|
- |
|
(17,832) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash inflow from financing activities |
|
85,985 |
|
119,946 |
|
8,115 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net (decrease) / increase in cash and cash equivalents |
|
(116,694) |
|
(66,401) |
|
48,319 |
|
|
|
|
|
|
|
|
|
Translation adjustment |
|
(301) |
|
(44) |
|
(3,150) |
|
|
|
|
|
|
|
|
|
Cash and cash equivalents at start of period |
|
169,708 |
|
124,539 |
|
124,539 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents at end of period (Note 13) |
|
52,713 |
|
58,094 |
|
169,708 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Origin Enterprises plc
Notes to the Condensed Interim Consolidated Financial Statements
for the six months ended 31 January 2026
1 Basis of preparation
The Group condensed interim consolidated financial statements have been prepared in accordance with International Accounting Standard 34, Interim Financial Reporting (IAS 34), as endorsed by the EU. The condensed interim consolidated financial statements have been prepared as information for the shareholders and do not include all the information and disclosures required in the annual financial statements. They should be read in conjunction with the Group's annual financial statements in respect of the year ended 31 July 2025, which have been prepared in accordance with IFRSs. The financial statements for the year ended 31 July 2025 are available on the company's website www.originenterprises.com. Those financial statements contained an unqualified audit report.
The Group condensed interim consolidated financial statements for the six months ended 31 January 2026 and the comparative figures for the six months ended 31 January 2025 are unaudited and have not been reviewed by the Auditors. The summary financial statements for the year ended 31 July 2025 represent an abbreviated version of the Group's full accounts for that year.
A comprehensive review of the Group's performance for the six months ended 31 January 2026 is included in the financial highlights included on pages 3 to 10. The group's business is seasonal and is heavily weighted towards the second half of the financial year.
2 Going concern
The Group condensed interim financial statements have been prepared on the going concern basis of accounting. The Directors have considered the Group's business activities and how it generates value, together with the main trends and factors likely to affect future development, business performance and position of the Group. Having reassessed the principal risks facing the Group, the Directors believe that the Group is well placed to manage these risks successfully. There are no material uncertainties that cast a significant doubt on the Group's ability to continue as a going concern over a period of at least 12 months from the date of these financial statements.
The Directors report that they have satisfied themselves that the Group is a going concern, having adequate resources to continue in operational existence for the foreseeable future. In forming this view, the Directors have reviewed the Group's forecast for a period not less than 12 months and the long-term plans, and have taken into account the cash flow implications, including capital expenditure, and compared these with the Group's borrowing facilities.
3 Accounting policies
The Group condensed interim consolidated financial statements have been prepared on the basis of the accounting policies as set out on pages 141 to 148 of the Group's Annual Report for the year ended 31 July 2025.
There is a new standard which is also effective from 1 August 2025. The following amendments, issued by the International Accounting Standards Board ('IASB') and the International Financial Reporting Interpretations Committee ('IFRIC'), are effective for the Group for the first time in the current financial period and where relevant have been adopted by the Group:
· Amendments to IAS 21 'The Effects of Changes in Foreign Exchange Rates': Lack of Exchangeability
The amendments listed above have had no material impact on the Group condensed interim consolidated financial statements during the period. The Group has not applied early adoption of any standards for which the effective date is not yet required.
Origin Enterprises plc
Notes to the Condensed Interim Consolidated Financial Statements (continued)
for the six months ended 31 January 2026
4 Reporting currency
The Group condensed interim consolidated financial statements are presented in euro (denoted by the symbol '€') and rounded to the nearest thousand, which is the functional currency of the parent. Transactions in foreign currencies are translated at the foreign exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the period end date are translated to functional currency at the foreign exchange rate ruling at that date. Foreign exchange differences arising on translation are recognised in the Consolidated Income Statement.
The principal exchange rates used for translation of results and balance sheets into euro were as follows:
|
|
Average foreign exchange rate |
|
Closing foreign exchange rate |
||||
|
|
Six months |
Six months |
|
|
Six months |
Six months |
|
|
|
ended |
ended |
Year ended |
|
ended |
ended |
Year ended |
|
|
Jan 2026 |
Jan 2025 |
July 2025 |
|
Jan 2026 |
Jan 2025 |
July 2025 |
|
|
EUR €1= |
EUR €1= |
EUR €1= |
|
EUR €1= |
EUR €1= |
EUR €1= |
|
|
|
|
|
|
|
|
|
|
Brazilian Real |
6.29307 |
6.19855 |
6.26395 |
|
6.19540 |
6.11132 |
6.38668 |
|
British Pound Sterling |
0.87117 |
0.83760 |
0.84219 |
|
0.86700 |
0.83670 |
0.86310 |
|
Polish Zloty |
4.23656 |
4.28503 |
4.25691 |
|
4.21230 |
4.21050 |
4.26960 |
|
Romanian Leu |
5.07993 |
4.97344 |
4.99545 |
|
5.09940 |
4.97860 |
5.07800 |
|
|
|
|
|
|
|
|
|
5 Segment information
IFRS 8, 'Operating Segments', requires operating segments to be identified on the basis of internal reports that are regularly reviewed by the Chief Operating Decision Maker ('CODM') in order to allocate resources to the segments and to assess their performance.
The Group has determined there are two operating segments as follows:
Agriculture
This segment includes the Group's wholly owned Business-to-Business Agri-Inputs operations, Integrated Agronomy and On-Farm Services operations in Ireland, the United Kingdom, Poland, Romania, and Brazil. In addition, this segment includes the Group's associate and joint venture undertakings.
Living Landscapes
This segment includes the Group's wholly owned Sports, Landscapes and Environmental operations, providing a range of consultancy, inputs and technical solutions in sports turf management, landscaping, and environmental conservation.
Information regarding the results of each reportable segment is included below. Performance is measured based on segment operating profit as included in the internal management reports that are reviewed by the Group's CODM, being the Origin Executive Directors. Segment operating profit is used to measure performance, as this information is the most relevant in evaluating the results of the Group's segments.
Origin Enterprises plc
Notes to the Condensed Interim Consolidated Financial Statements (continued)
for the six months ended 31 January 2026
5 Segment information (continued)
(i) Segment revenue and results
|
|
|
Agriculture |
|
Living Landscapes |
|
Total Group |
|||||||||
|
|
|
Jan 2026 |
|
Jan 2025 |
|
Jan 2026 |
|
Jan 2025 |
|
Jan 2026 |
|
Jan 2025 |
|
||
|
|
|
€'000 |
|
€'000 |
|
€'000 |
|
€'000 |
|
€'000 |
|
€'000 |
|
||
|
Revenue |
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
Ireland & UK |
|
437,958 |
|
430,502 |
|
86,099 |
|
75,152 |
|
524,057 |
|
505,654 |
|
||
|
Continental Europe |
|
233,797 |
|
235,953 |
|
- |
|
- |
|
233,797 |
|
235,953 |
|
||
|
Latin America |
|
94,755 |
|
90,069 |
|
- |
|
- |
|
94,755 |
|
90,069 |
|
||
|
Total |
|
766,510 |
|
756,524 |
|
86,099 |
|
75,152 |
|
852,609 |
|
831,676 |
|
||
|
Segment Result |
|
|
|
|
|
|
|
|
|
|
|
|
|
||
|
Ireland & UK |
|
(897) |
|
(1,235) |
|
4,094 |
|
3,779 |
|
3,197 |
|
2,544 |
|
||
|
Continental Europe |
|
571 |
|
1,563 |
|
- |
|
- |
|
571 |
|
1,563 |
|
||
|
Latin America |
|
11,331 |
|
10,798 |
|
- |
|
- |
|
11,331 |
|
10,798 |
|
||
|
Total |
|
11,005 |
|
11,126 |
|
4,094 |
|
3,779 |
|
15,099 |
|
14,905 |
|
||
|
Profit from associate & joint venture |
|
2,328 |
|
2,118 |
|
- |
|
- |
|
2,328 |
|
2,118 |
|
||
|
Amortisation of non-ERP intangible assets |
|
(4,097) |
|
(4,611) |
|
(1,830) |
|
(1,359) |
|
(5,927) |
|
(5,970) |
|
||
|
Operating profit before exceptional items |
|
9,236 |
|
8,633 |
|
2,264 |
|
2,420 |
|
11,500 |
|
11,053 |
|
||
|
Exceptional items |
|
(3,643) |
|
12,440 |
|
(237) |
|
(1,208) |
|
(3,880) |
|
11,232 |
|
||
|
Operating profit |
|
5,593 |
|
21,073 |
|
2,027 |
|
1,212 |
|
7,620 |
|
22,285 |
|
||
(ii) Segment earnings before financing costs and tax is reconciled to reported profit before tax and profit after tax as follows:
|
Operating profit |
7,620 |
|
22,285 |
|
Finance income |
2,403 |
|
4,888 |
|
Finance expense |
(13,748) |
|
(14,911) |
|
Reported (loss)/profit before tax |
(3,725) |
|
12,262 |
|
Income tax credit/(expense) |
466 |
|
(607) |
|
Reported (loss)/profit after tax |
(3,259) |
|
11,655 |
Origin Enterprises plc
Notes to the Condensed Interim Consolidated Financial Statements (continued)
for the six months ended 31 January 2026
5 Segment information (continued)
(iii) Segment assets
|
|
|
Agriculture |
|
Living Landscapes |
|
Total Group |
||||||
|
|
|
Jan 2026 |
|
Jan 2025 |
|
Jan 2026 |
|
Jan 2025 |
|
Jan 2026 |
|
Jan 2025 |
|
|
|
€'000 |
|
€'000 |
|
€'000 |
|
€'000 |
|
€'000 |
|
€'000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Assets excluding investment in associates & joint venture |
|
1,107,398 |
|
1,037,327 |
|
175,815 |
|
166,797 |
|
1,283,213 |
|
1,204,124 |
|
Investments in associates & joint venture |
|
39,476 |
|
43,528 |
|
375 |
|
388 |
|
39,851 |
|
43,916 |
|
Segment assets |
|
1,146,874 |
|
1,080,855 |
|
176,190 |
|
167,185 |
|
1,323,064 |
|
1,248,040 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Reconciliation to total assets as reported in Consolidated Statement of Financial Position
|
Cash & cash equivalents |
|
62,771 |
|
62,583 |
|
Derivative financial instruments |
|
392 |
|
3,442 |
|
Deferred tax assets |
|
6,757 |
|
3,557 |
|
Total assets as reported in Consolidated Statement of Financial Position |
|
1,392,984 |
|
1,317,622 |
(iv) Segment liabilities
|
|
|
Agriculture |
|
Living Landscapes |
|
Total Group |
||||||
|
|
|
Jan 2026 |
|
Jan 2025 |
|
Jan 2026 |
|
Jan 2025 |
|
Jan 2026 |
|
Jan 2025 |
|
|
|
€'000 |
|
€'000 |
|
€'000 |
|
€'000 |
|
€'000 |
|
€'000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Segment liabilities |
|
542,989 |
|
485,722 |
|
55,972 |
|
57,340 |
|
598,961 |
|
543,062 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Reconciliation to total liabilities as reported in Consolidated Statement of Financial Position
|
Interest-bearing loans and borrowings |
346,303 |
|
332,668 |
|
Derivative financial instruments |
2,528 |
|
990 |
|
Dividend payable to shareholders |
15,176 |
|
14,476 |
|
Current and deferred tax liabilities |
24,081 |
|
21,048 |
|
Total liabilities as reported in Consolidated Statement of Financial Position |
987,049 |
|
912,244 |
Origin Enterprises plc
Notes to the Condensed Interim Consolidated Financial Statements (continued)
for the six months ended 31 January 2026
6 Exceptional items
Exceptional items are those that, in management's judgement, should be separately presented and disclosed by virtue of their nature or amount. Such items are included within the consolidated income statement caption to which they relate. The following exceptional items arose during the year:
|
|
Six months |
|
Six months |
|
|
|
ended |
|
ended |
|
|
|
January |
|
January |
|
|
|
2026 |
|
2025 |
|
|
|
€'000 |
|
€'000 |
|
|
Ukraine related costs (i) |
(3,271) |
|
(764) |
|
|
Acquisition, disposal and other related costs (ii) |
(609) |
|
(1,254) |
|
|
Fair value movement on investment properties (iii) |
- |
|
6,230 |
|
|
Exceptional (costs)/credit before tax and before associates and joint ventures |
(3,880) |
|
4,212 |
|
|
Tax credit/(charge) on exceptional items |
169 |
|
(683) |
|
|
Exceptional (costs)/credit before associates and joint ventures |
(3,711) |
|
3,529 |
|
|
Arising in associates and joint ventures, net of tax (iv) |
- |
|
7,020 |
|
|
Total exceptional (costs)/credit after tax |
(3,711) |
|
10,549 |
|
|
|
|
|
|
|
(i) Ukraine related costs
Ukraine related costs comprise of costs associated with international sanctions imposed by authorities in response to the Russian invasion of Ukraine. The tax impact of this exceptional item in the period was a tax credit of €0.1 million.
(ii) Acquisition, disposal and other related costs
Acquisition, disposal and other related costs principally comprised of transaction costs incurred in relation to the acquisitions completed during the current period. Also included is redundancy and restructuring costs related to termination payments during the period. The tax impact of this exceptional item in the period was a tax credit of €0.1 million.
(iii) Fair value movement on investment properties
Fair value movement on investment properties in the prior year related principally to an uplift in the carrying value of development land arising from a third party valuation. The tax impact of this exceptional item in the prior period was a charge of €0.8 million.
(iv) Arising in associates and joint venture, net of tax
In the prior year, associates and joint venture recognised an exceptional credit primarily related to the disposal of assets held under long leases of €8.3 million and related restructuring costs incurred.
Origin Enterprises plc
Notes to the Condensed Interim Consolidated Financial Statements (continued)
for the six months ended 31 January 2026
7 Earnings per share
Basic earnings per share
|
|
Six months |
|
Six months |
|
|
ended |
|
ended |
|
|
January |
|
January |
|
|
2026 |
|
2025 |
|
|
€'000 |
|
€'000 |
|
|
|
|
|
|
(Loss)/Profit for the financial period attributable to equity shareholders |
(3,259) |
|
11,655 |
|
|
|
|
|
|
|
'000 |
|
'000 |
|
|
|
|
|
|
Weighted average number of ordinary shares for the period |
107,065 |
|
106,146 |
|
|
|
|
|
|
|
Cent |
|
Cent |
|
|
|
|
|
|
Basic (loss)/earnings per share |
(3.04) |
|
10.98 |
|
Diluted earnings per share |
|
|
|
|
|
Six months |
|
Six months |
|
|
ended |
|
ended |
|
|
January |
|
January |
|
|
2026 |
|
2025 |
|
|
€'000 |
|
€'000 |
|
|
|
|
|
|
(Loss)/Profit for the financial period attributable to equity shareholders |
(3,259) |
|
11,655 |
|
|
|
|
|
|
|
'000 |
|
'000 |
|
|
|
|
|
|
Weighted average number of ordinary shares used in basic calculation |
107,065 |
|
106,146 |
|
Potential impact of shares with dilutive effect |
4,498 |
|
4,912 |
|
Potential impact of SAYE scheme with dilutive effect |
1,623 |
|
832 |
|
Weighted average number of ordinary shares (diluted) for the period |
113,186 |
|
111,890 |
|
|
|
|
|
|
|
Cent |
|
Cent |
|
|
|
|
|
|
Diluted (loss)/earnings per share |
(3.04) |
|
10.42 |
|
|
|
|
|
The effects of potential ordinary shares for the six months ended January 2026 are not reflected in the calculation of the diluted loss per share as the impact of these is anti-dilutive.
Origin Enterprises plc
Notes to the Condensed Interim Consolidated Financial Statements (continued)
for the six months ended 31 January 2026
7 Earnings per share (continued)
|
Adjusted basic earnings per share |
|
|
|
|
|
|
|
Six months |
|
Six months |
|
|
|
ended |
|
ended |
|
|
|
January |
|
January |
|
|
|
2026 |
|
2025 |
|
|
|
€'000 |
|
€'000 |
|
|
|
|
|
|
|
(Loss)/Profit for the financial period attributable to equity shareholders |
|
(3,259) |
|
11,655 |
|
Amortisation of non-ERP related intangible assets |
|
5,927 |
|
5,970 |
|
Tax on amortisation of non-ERP related intangible assets |
|
(1,234) |
|
(1,297) |
|
Exceptional items, net of tax |
|
3,711 |
|
(10,549) |
|
Adjusted basic profit |
|
5,145 |
|
5,779 |
|
|
|
|
|
|
|
|
|
Cent |
|
Cent |
|
|
|
|
|
|
|
Adjusted basic earnings per share |
|
4.81 |
|
5.44 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
€'000 |
|
€'000 |
|
|
|
|
|
|
|
Total adjusted basic earnings - as above |
|
5,145 |
|
5,779 |
|
|
|
|
|
|
|
|
|
Cent |
|
Cent |
|
|
|
|
|
|
|
Total adjusted diluted earnings per share |
|
4.55 |
|
5.17 |
|
|
|
|
|
|
The calculation of basic adjusted earnings per share is based on the weighted average number of shares in issue during the period of 107,064,864 (31 January 2025: 106,145,870). The weighted average number of shares used in the calculation of adjusted diluted earnings per share is 113,185,676 (31 January 2025: 111,890,288).
Origin Enterprises plc
Notes to the Condensed Interim Consolidated Financial Statements (continued)
for the six months ended 31 January 2026
8 Condensed Interim Consolidated Income Statements for the six months ended 31 January 2025 and year ended 31 July 2025
An analysis of the Condensed Interim Consolidated Income Statement (including exceptional items) for the six months ended 31 January 2025 and year ended 31 July 2025 is set out below.
|
|
Six months ended 31 January 2025 |
|
|
|
|
|
|
|
|
|
|
|
Six months |
|
Six months |
|
Six months |
|
|
|
|
|
ended |
|
ended |
|
ended |
|
|
|
|
|
Jan 2025 |
|
Jan 2025 |
|
Jan 2025 |
|
|
|
|
|
Pre-Exceptional |
|
Exceptional |
|
Total |
|
|
|
|
|
€'000 |
|
€'000 |
|
€'000 |
|
|
|
Revenue |
|
831,676 |
|
- |
|
831,676 |
|
|
|
Cost of sales |
|
(689,546) |
|
- |
|
(689,546) |
|
|
|
Gross profit |
|
142,130 |
|
- |
|
142,130 |
|
|
|
Operating costs |
|
(133,195) |
|
4,212 |
|
(128,983) |
|
|
|
Share of profit of associates and joint venture |
|
2,118 |
|
7,020 |
|
9,138 |
|
|
|
Operating profit |
|
11,053 |
|
11,232 |
|
22,285 |
|
|
|
Finance income |
|
4,888 |
|
- |
|
4,888 |
|
|
|
Finance expense |
|
(14,911) |
|
- |
|
(14,911) |
|
|
|
Profit before income tax |
|
1,030 |
|
11,232 |
|
12,262 |
|
|
|
Income tax credit/(expense) |
|
76 |
|
(683) |
|
(607) |
|
|
|
Profit attributable to equity shareholders |
|
1,106 |
|
10,549 |
|
11,655 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Year ended 31 July 2025 |
|
|
|
|
|
|
|
|
|
|
|
Year ended |
|
Year ended |
|
Year ended |
|
|
|
|
|
July 2025 |
|
July 2025 |
|
July 2025 |
|
|
|
|
|
Pre-Exceptional |
|
Exceptional |
|
Total |
|
|
|
|
|
€'000 |
|
€'000 |
|
€'000 |
|
|
|
Revenue |
|
2,109,146 |
|
- |
|
2,109,146 |
|
|
|
Cost of sales |
|
(1,750,806) |
|
- |
|
(1,750,806) |
|
|
|
Gross profit |
|
358,340 |
|
- |
|
358,340 |
|
|
|
Operating costs |
|
(281,152) |
|
(7,089) |
|
(288,241) |
|
|
|
Share of profit of associates and joint venture |
|
9,048 |
|
7,493 |
|
16,541 |
|
|
|
Operating profit |
|
86,236 |
|
404 |
|
86,640 |
|
|
|
Finance income |
|
4,991 |
|
- |
|
4,991 |
|
|
|
Finance expense |
|
(24,951) |
|
- |
|
(24,951) |
|
|
|
Profit before income tax |
|
66,276 |
|
404 |
|
66,680 |
|
|
|
Income tax (expense)/credit |
|
(15,630) |
|
1,703 |
|
(13,927) |
|
|
|
Profit for the year |
|
50,646 |
|
2,107 |
|
52,753 |
|
|
|
|
|
|
|
|
|
|
|
Origin Enterprises plc
Notes to the Condensed Interim Consolidated Financial Statements (continued)
for the six months ended 31 January 2026
9 Property, plant and equipment
|
|
January |
|
July |
|
|
2026 |
|
2025 |
|
|
€'000 |
|
€'000 |
|
|
|
|
|
|
Net book value |
|
|
|
|
At beginning of period |
134,499 |
|
132,665 |
|
Arising on acquisition |
- |
|
563 |
|
Additions |
9,138 |
|
15,927 |
|
Reclassification of held-for-sale properties (1) |
5,800 |
|
- |
|
Disposals |
(1,846) |
|
(1,946) |
|
Depreciation charge |
(5,370) |
|
(10,624) |
|
Translation adjustments |
210 |
|
(2,086) |
|
|
|
|
|
|
|
|
|
|
|
At end of period |
142,431 |
|
134,499 |
|
|
|
|
|
|
|
|
|
|
(1) During the financial period, the Group performed an assessment of held-for-sale properties and it was deemed the held-for-sale criteria was no longer met.
10 Goodwill and intangible assets
|
|
January |
|
July |
|
|
2026 |
|
2025 |
|
|
€'000 |
|
€'000 |
|
|
|
|
|
|
Net book value |
|
|
|
|
At beginning of period |
318,638 |
|
308,852 |
|
Arising on acquisition |
- |
|
28,121 |
|
Additions |
4,110 |
|
13,349 |
|
Disposals |
- |
|
(20) |
|
Write-off of intangible assets |
- |
|
(8,556) |
|
Amortisation of non-ERP intangible assets |
(5,927) |
|
(12,758) |
|
ERP intangible amortisation |
(1,765) |
|
(3,375) |
|
Translation adjustments |
230 |
|
(6,975) |
|
|
|
|
|
|
|
|
|
|
|
At end of period |
315,286 |
|
318,638 |
|
|
|
|
|
|
|
|
|
|
Included in the total goodwill and intangible assets above is goodwill of €229,008,777 (July 2025: €228,752,000). There have been no indicators of impairment in the first half of the year therefore a full assessment of the carrying value of goodwill and intangibles will be carried out in the second half of the year.
Origin Enterprises plc
Notes to the Condensed Interim Consolidated Financial Statements (continued)
for the six months ended 31 January 2026
11 Investments in associates and joint venture
|
|
January |
|
July |
|
|
2026 |
|
2025 |
|
|
€'000 |
|
€'000 |
|
|
|
|
|
|
At beginning of period |
47,312 |
|
44,484 |
|
Investment in associate |
- |
|
386 |
|
Share of profits after tax, before exceptional items |
2,328 |
|
9,048 |
|
Share of exceptional items, net of tax |
- |
|
7,493 |
|
Dividends received |
(10,310) |
|
(12,642) |
|
Share of other comprehensive expense |
(245) |
|
(867) |
|
Translation adjustments |
(122) |
|
(590) |
|
|
|
|
|
|
|
|
|
|
|
At end of period |
38,963 |
|
47,312 |
|
|
|
|
|
|
|
|
|
|
12 Provision for liabilities
The estimate of provisions is a key judgement in the preparation of the condensed interim consolidated condensed financial statements.
|
|
January |
|
July |
|
|
2026 |
|
2025 |
|
|
€'000 |
|
€'000 |
|
|
|
|
|
|
At beginning of period |
20,049 |
|
15,874 |
|
Arising on acquisition |
- |
|
6,562 |
|
Provided in the period |
322 |
|
2,870 |
|
Paid/utilised in the period |
(719) |
|
(4,132) |
|
Released in the year |
(165) |
|
(702) |
|
Translation adjustments |
(82) |
|
(423) |
|
|
|
|
|
|
|
|
|
|
|
At end of period |
19,405 |
|
20,049 |
|
|
|
|
|
|
|
|
|
|
Provisions primarily relate to contingent acquisition consideration arising on a number of acquisitions completed during prior years.
Origin Enterprises plc
Notes to the Condensed Interim Consolidated Financial Statements (continued)
for the six months ended 31 January 2026
13 Analysis of net cash / (debt)
|
|
|
31 July |
|
|
|
Non-cash |
|
Translation |
|
31 January |
|
|
|
2025 |
|
Cashflow |
|
movements |
|
adjustment |
|
2026 |
|
|
|
€'000 |
|
€'000 |
|
€'000 |
|
€'000 |
|
€'000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash |
169,778 |
|
(106,856) |
|
- |
|
(151) |
|
62,771 |
|
|
Overdraft |
(70) |
|
(9,838) |
|
- |
|
(150) |
|
(10,058) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents |
169,708 |
|
(116,694) |
|
- |
|
(301) |
|
52,713 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loans |
(240,551) |
|
(95,351) |
|
(373) |
|
30 |
|
(336,245) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net debt |
(70,843) |
|
(212,045) |
|
(373) |
|
(271) |
|
(283,532) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Lease liabilities |
(68,297) |
|
9,374 |
|
(6,127) |
|
208 |
|
(64,842) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net debt including lease liabilities |
(139,140) |
|
(202,671) |
|
(6,500) |
|
(63) |
|
(348,374) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As at 31 January 2026, the Group had unsecured committed banking facilities of €440.0 million (July 2025: €440.0 million), which will expire in January 2031.
14 Share capital
|
|
|
January |
|
July |
|
|
|
2026 |
|
2025 |
|
|
|
€'000 |
|
€'000 |
|
|
Authorised |
|
|
|
|
|
250,000,000 ordinary shares of €0.01 each (i) |
2,500 |
|
2,500 |
|
|
|
|
|
|
|
|
Allotted, called up and fully paid |
|
|
|
|
|
119,741,531 (2025: 119,741,531) ordinary shares of €0.01 each (i) |
1,197 |
|
1,197 |
|
|
|
|
|
|
|
|
Number of treasury shares |
|
Nominal value of shares |
|
Carrying value of shares |
|
|
|
|
€'000 |
|
€'000 |
|
Treasury shares in issue |
|
|
|
|
|
|
At 1 August 2025 |
(13,017,304) |
|
(130) |
|
(46,966) |
|
Re-issue of treasury shares (ii) |
554,842 |
|
5 |
|
2,002 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(12,462,462) |
|
(125) |
|
(44,964) |
|
|
|
|
|
|
|
(i) Ordinary shareholders are entitled to dividends as declared and each ordinary share carries equal voting rights at meetings of the Company.
(ii) During the financial period, the Group re-issued 554,842 treasury shares to satisfy the exercise of share options granted under the Company's Long-Term Incentive Plan (2015).
Origin Enterprises plc
Notes to the Condensed Interim Consolidated Financial Statements (continued)
for the six months ended 31 January 2026
15 Dividends
On 6 February 2026 a dividend of 14.15 cent per ordinary share was paid in respect of the year ended 31 July 2025. The dividend was approved by shareholders at the Annual General Meeting on 20 November 2025.
An interim dividend of 3.15 cent per share will be paid on 19 June 2026 to shareholders on the register on 29 May 2026. These condensed interim consolidated financial statements do not reflect this dividend payable.
16 Taxation
The taxation charge for the interim period is an estimate based on the expected full year effective tax rate on full year profits.
17 Contingent liabilities
The Group is not aware of any major changes with regard to contingent liabilities in comparison with the situation as of 31 July 2025.
18 Related party transactions
Related party transactions occurring in the period were similar in nature to those described in the 2025 Annual Report.
19 Subsequent events
There have been no other material events that would require adjustment to or disclosure in this report.
20 Release of half yearly condensed interim consolidated financial statements
The Group condensed interim consolidated financial information was approved for release by the Board on 2 March 2026.
21 Distribution of Interim Report
This interim report is available on the Group's website (www.originenterprises.com). A printed copy is available to the public at the Company's registered office.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
Latest directors dealings
- 49 minutes ago ASOS
- 1 hour ago MJ Gleeson
- 1 hour ago Rolls-Royce Holdings
- 1 hour ago Crest Nicholson Holdings
- 2 hours ago Naked Wines