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Rotork (ROR) investor relations material
Rotork H1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Delivered resilient H1 2026 performance with 1.3% OCC revenue growth and margin expansion, despite oil and gas disruptions and a challenging macro environment, driven by the Growth+ strategy and strong Target Segment, CPI, and Service growth.
Service revenue increased to 24% of group revenue, supporting recurring, higher-quality income.
Board agreed to a recommended cash acquisition by ABB at 506p per share, a 73% premium to the undisturbed share price, valuing the company at £4.1 billion, with completion expected in H1 2027.
Financial highlights
Revenue: £367.2m, up 1.3% OCC; adjusted operating profit: £82.2m, up 4.1% OCC; adjusted operating margin: 22.4%, up 60bps OCC.
Adjusted EPS: 7.4p, up 4.2%; cash conversion: 79%; ROCE: 36.5%.
Interim dividend: 3.00p per share, up 1.7%; £40m returned via share buybacks.
Net cash position at period end: £25.3m.
Free cash flow: £22.4m; order intake: £371.8m, down 4.9% year-over-year.
Outlook and guidance
Group outlook unchanged; further OCC progress expected in 2026.
Oil & Gas recovery from Middle East disruption to be gradual; full-year divisional revenue expected slightly lower year-on-year.
CPI expected to outperform original expectations, driven by strong data center and target segment demand.
Water & Power outlook remains positive with robust order momentum and infrastructure investment.
Ambition to deliver mid to high single-digit revenue growth and mid-20s adjusted operating margins over time.
- Resilient Q1 with revenue growth in CPI and Water & Power; full-year outlook unchanged.ROR
Trading update - Order growth, margin expansion, and strong cash flow drive a positive outlook for 2026.ROR
H2 2025 - Order intake up 6% year-over-year, new £50m buyback announced, outlook unchanged.ROR
Trading Update - Strong OCC growth, margin expansion, and strategic actions support robust outlook.ROR
H1 2025 - Order intake up 8% year-on-year, with strong growth and robust financials maintained.ROR
Trading Update - Double-digit growth, margin expansion, and strong cash flow support a positive outlook.ROR
H1 2024 - Order intake rose, strategic initiatives advanced, and 2025 is expected to show further progress.ROR
Trading Update - Record margins, strong sales, and acquisitions drive momentum and growth into 2025.ROR
H2 2024
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