Fevara (FVA) H2 2026 TU earnings summary

Financial performance

• FY26 revenue expected at approximately £86 million, reflecting 8% like-for-like growth year-on-year.

• Adjusted EBIT anticipated at around £6.0 million, up about 60% year-on-year and ahead of market expectations.

• Net debt position improved to about £2.0 million, aided by strong cash conversion and asset disposals.

Strategic milestones

• Completed acquisition of Macal, marking entry into the Brazilian market, and acquired a production facility in São Paulo State.

• Disposed of Chirton Engineering Ltd, finalizing the strategic review to focus on livestock supplements.

• Secured a new £20m revolving credit facility with HSBC, with additional uncommitted headroom for future growth.

Operational highlights and outlook

• UK, European, and US businesses performed well, with continued growth in Low Moisture Blocks sales.

• Early FY27 trading is encouraging and aligns with expectations as the group enters its peak season.

• Medium-term targets reaffirmed: £120 million revenue, £15 million adjusted EBITDA, 10% EBIT margin, and 20% ROCE.