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Edge14 Aug 2026
Deutsche Qualität: The Story of Birkenstock
From an 18th-century German shoemaker to a global footwear brand, how Birkenstock turned an orthopedic insole into the world's most popular sandal.
Senior
Senior (SNR) investor relations material
Senior H1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.H1 2026 earnings summary3 Aug, 2026
Executive summary
Strong half-year performance with adjusted profit before tax up 38% year-over-year, driven by both Aerospace and Flexonics divisions.
Group operating margin reached 10.0%, up 170 bps, and ROCE improved by 260 bps to 14.5%.
Shareholders approved the recommended cash acquisition by Zeus UK Bidco Limited; completion expected by end of 2026.
Financial highlights
Revenue rose 7% year-over-year to £390.8m; adjusted operating profit up 28% to £39.1m.
Adjusted earnings per share increased 27% to 6.46p; free cash flow up 54% to £16.3m.
Reported loss before tax of £5.6m due to £38.9m one-off acquisition costs; adjusted profit before tax £34.8m.
Net debt (excl. leases) increased to £89.4m; leverage stable at 0.9x net debt/EBITDA.
Outlook and guidance
Full-year expectations unchanged and in line with upgraded July 2026 guidance.
Aerospace outlook positive, supported by rising civil aircraft build rates and robust demand in core markets.
Flexonics outlook improved, driven by strong North American heavy-duty truck market and operational execution.
Impact of EPA-27 pre-buy on Flexonics outlook
Going concern uncertainty due to change of control
Fair value adjustments for Aerostructures sale
Partial view of Summaries dataset, powered by Quartr API
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Latest events from Senior
- Upgraded full year outlook driven by strong H1 2026 performance in both main divisions.SNR
Q2 2026 TU - Strong Q1 2026 results and robust Aerospace growth drive upgraded full-year outlook.SNRQ1 2026 TU
- Revenue and profit rose strongly, margins expanded, and the dividend increased 25%.SNRH2 2025
- FY25 results to exceed expectations with improved leverage and strong Aerospace performance.SNRQ4 2025 TU
- H1 2025 delivered robust growth, Aerostructures sale, and £40m share buyback announced.SNRH1 2025
- Strong order book and cost actions support growth despite near-term aerospace headwinds.SNRQ3 2024 TU
- Strong H1 growth, robust Aerospace gains, and positive full-year outlook with higher dividend.SNRH1 2024
- Double-digit margin and 15%-20% ROCE targets set as FCTM focus sharpens, Aerostructures sale close.SNRInvestor Update
- 2024 saw revenue and margin growth, strong cash flow, and a positive 2025 outlook, led by Aerospace.SNRH2 2024
Senior
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