Young & Co.'s Brewery (YNGA) H2 2026 earnings summary

Executive summary

• Achieved record revenue of £508.2m, up 4.6% year-over-year, with strong like-for-like sales and sector-leading operating margin of 14.0%.

• Surpassed £500m in revenue, driven by strategic investments, successful fundraising, and key sporting events.

• Completed move from AIM to Main Market of the London Stock Exchange and acquired Cubitt House, expanding premium London presence.

Financial highlights

• Adjusted EBITDA rose 1.4% to £115.2m; adjusted profit before tax increased 2.9% to £53.1m year-over-year.

• Adjusted basic EPS up 4.4% to 64.56p; dividend per share increased 6.0% to 24.44p.

• Net debt reduced by £24.1m to £224.2m; leverage lowered to 2.7x.

• Free cash flow grew to £64.8m, supporting share buybacks and increased dividends.

• Net assets rose 2.5% to £793.4m; NAV per share up 4.1% to £12.98.

Outlook and guidance

• Early FY27 trading strong: last 5 weeks like-for-like sales up 3.4%, total sales up 7.9%.

• Optimism for the year ahead, with major sporting events and further pub investments planned.

• Continued focus on balancing debt reduction and investment, with ongoing share buyback programme.