Princes Group (PRN) investor relations material

Executive summary

• Revenue reached £999.4m in H1 2026, up 7% year-over-year, driven by acquisitions and strong growth in Italian and Oils business units.

• Adjusted EBITDA margin rose to 7.9%, a 290bps increase since H1 2024, with adjusted EBITDA at £79.3m, up 7%.

• Net profit was £29m, up from £18m in H1 2025, while profit before tax surged 62% to £39.2m.

• Strong cash generation with underlying FCF of £90.1m and FCF conversion of 115%.

• Net cash position improved to £481m, or £374m including IFRS 16 lease liabilities.

Financial highlights

• Gross profit for H1 2026 was £211.4m, up from £186.6m in H1 2025.

• Operating profit reached £36.2m, compared to £38.9m in H1 2025.

• ROCE increased to 12.2% LTM, up from 11.6% in FY 2025.

• Shareholders’ equity stands at £1.1bn, with tangible assets and cash representing 94% of total assets.

• Basic EPS was £0.11, flat year-over-year.

Outlook and guidance

• Mid-term guidance unchanged, with revenue expected to surpass £3bn and EBITDA margin targeted at 9%.

• Trading momentum strengthened in Q2, with performance ahead of Q1.

• Most CPI price increases effective from July, with benefits expected in Q3 and Q4.

• Management expects to complete at least one acquisition in the coming months.

• Profitability improvement is continuing in line with expectations, despite macroeconomic uncertainty.