RWS (RWS) Q2 2026 TU earnings summary

Executive summary

• Reported revenue for the first half ended 31 March 2026 is expected to be approximately £360m, up about 5% year-over-year.

• Organic constant currency revenue grew by around 7% in the period, driven by strong performance in the Generate and Protect segments.

• Strategic progress includes new client wins, launch of Language Weaver Pro, and operational efficiencies.

Financial highlights

• Adjusted profit before tax is expected to be about £24m, up from £18m in H1 FY25.

• Net debt at 31 March 2026 was approximately £33m, after paying a £17m final dividend for FY25.

• Cash generation remains strong.

Outlook and guidance

• FY26 performance is expected to align with market expectations and guidance, with low single-digit OCC revenue growth and improving profitability.

• Continued strong free cash flow conversion anticipated.