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Midwich Group (MIDW) investor relations material
Midwich Group Q2 2026 TU earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Adjusted profit before tax for H1 2026 expected to be around 10% higher year-over-year, despite challenges in the Middle East market.
Revenue for H1 2026 anticipated at approximately £640 million, up 3% from H1 2025.
Growth in UK & Ireland, North America, and Iberia offset declines in EMEA and Middle East.
Continued focus on higher margin, specialist product areas and operational efficiencies.
Financial highlights
Adjusted profit before tax expected at £10.6 million, up from £9.6 million in H1 2025.
Revenue increased by 3% year-over-year; constant currency revenue up 2%.
Underlying gross margins slightly lower due to Middle East revenue reduction and UK sales mix.
Adjusted net debt increased by £12 million to £138 million due to working capital seasonality.
Leverage at 2.3x adjusted net debt to adjusted EBITDA, expected to reduce to 2.0x by year end.
Outlook and guidance
Board expects full year results to be broadly in line with 2025, assuming challenging macroeconomic conditions persist.
Positive momentum in most regions expected to partially mitigate Middle East conflict impact.
Initiatives underway to drive future performance, including new vendor/customer relationships and AI solutions.
- Revenue down 1.5% to £1.27bn, profit fell 10%, but cash generation and 2026 outlook remain strong.MIDW
H2 202517 Mar 2026 - Record revenue and gross margin driven by technical and North American growth; outlook steady.MIDW
H1 202422 Jan 2026 - 2025 revenue steady at £1.3bn, H2 growth, strong cash, UK & Ireland up 7%, profit in line.MIDW
H2 2025 TU20 Jan 2026 - Revenue and profit fell, but margins and cash flow remained robust; H2 outlook is positive.MIDW
H1 202531 Dec 2025 - Record revenue and margin growth driven by technical focus and M&A amid tough market conditions.MIDW
H2 202423 Dec 2025 - H1 2025 revenue fell 4.3%, but full-year outlook remains unchanged amid ongoing market challenges.MIDW
Trading Update10 Sep 2025
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