James Cropper (CRPR) H2 2026 TU earnings summary

Executive summary

• Adjusted EBITDA for FY26 reached £8.8m, about 10% above market expectations and over 30% higher year-over-year.

• Group revenue for FY26 was £103m, a 4% increase compared to FY25.

• Net debt reduced to £8.3m from £12.9m in FY25, reflecting strong cash and working capital management.

Financial highlights

• Adjusted EBITDA grew to £8.8m (FY25: £6.67m), exceeding expectations.

• Group revenue rose 4% year-over-year to £103m.

• Net debt to EBITDA ratio improved to below 1x from 1.9x in FY25.

Outlook and guidance

• Board remains confident in medium-term prospects for both divisions.

• Advanced Materials expected to deliver underlying double-digit growth in the medium term.

• Paper & Packaging expected to achieve positive adjusted EBITDA in FY27.