Group Revenue Growth
Group revenue of EUR 852.6m, up 2.5% reported and +5.1% on a constant currency basis. Excluding crop marketing revenue increased by 4.3%.
Positive Volume, Pricing and Acquisition Drivers
Revenue drivers included a 2.3% volume increase, a +4% pricing benefit (largely from fertilizer pricing) and a +1% benefit from acquisitions, partly offset by a -3% foreign exchange headwind.
Living Landscapes Strong Performance
Living Landscapes operating profit up 8.3% year-on-year, driven by Sports and Landscapes and acquisition-related growth in Environmental. Management targets a ~30% run-rate profitability for Living Landscapes by FY'26 exit and organic run-rate already above 20%.
Latin America Profit Growth
Latin America operating profit rose 5% to EUR 11.3m, supported by strong growth in Controlled Release Fertilizer and biologicals despite a challenging competitive environment.
Healthy Leverage and Extended Facility
Net debt of EUR 283.5m representing 2.44x EBITDA (within covenant of 3.5x). Revolving credit facility extended (EUR 440m RCF maturity extended to 2031) and sustainability-linked RCF extended by one year, supporting balance sheet flexibility.
Synergy and Integration Progress
Living Landscapes synergy target of ~8–10% of EBIT; management reports ~10% of synergy generation year-to-date with early examples of cross-selling and supply-chain savings.
Operational & Digital Investments Nearing Completion
ERP rollouts continuing with Latin America ERP go-live planned 1 April; much of the large multi-year ERP and production capex program completed, with management expecting lower CapEx going forward.
Interim Dividend Maintained
Interim dividend of EUR 0.0315 announced, consistent with prior years, signaling steady capital return policy.