Slides
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2026 Half Year Results 8 September 2026
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2 This presentation includes statements that are, or may be deemed to be, ‘forward-looking statements’. These forward-looking statements can be identified by the use of forward-looking terminology, including the terms ‘anticipates’, ‘believes’, ‘estimates’, ‘expects’, ‘intends’, ‘may’, ‘plans’, ‘projects’, ‘should’ or ‘will’, or, in each case, their negative or other variations or comparable terminology, or by discussions of strategy, plans, objectives, goals, future events or intentions. These forward-looking statements include all matters that are not historical facts. They appear in a number of places throughout this presentation and include, but are not limited to, statements regarding the Group’s intentions, beliefs or current expectations concerning, amongst other things, results of operations, prospects, growth, strategies and expectations of its respective businesses. By their nature, forward-looking statements involve risk and uncertainty because they relate to future events and circumstances. Forward-looking statements are not guarantees of future performance and the actual results of the Group’s operations and the development of the markets and the industry in which they operate or are likely to operate and their respective operations may differ materially from those described in, or suggested by, the forward-looking statements contained in this presentation. In addition, even if the results of operations and the development of the markets and the industry in which the Group operates are consistent with the forward-looking statements contained in this presentation, those results or developments may not be indicative of results or developments in subsequent periods. A number of factors could cause results and developments to differ materially from those expressed or implied by the forward-looking statements, including, without limitation, those risks in the risk factor section of the Computacenter plc 2025 Annual Report and Accounts, as well as general economic and business conditions, industry trends, competition, changes in regulation, currency fluctuations or advancements in research and development. Forward-looking statements speak only as of the date of this presentation and may, and often do, differ materially from actual results. Any forward-looking statements in this presentation reflect the Group’s current view with respect to future events and are subject to risks relating to future events and other risks, uncertainties and assumptions relating to the Group’s operations, results of operations and growth strategy. Neither Computacenter plc nor any of its subsidiaries undertakes any obligation to update the forward-looking statements to reflect actual results or any change in events, conditions or assumptions or other factors unless otherwise required by applicable law or regulation. Disclaimer
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3 Record H1 performance • Outstanding performance in North America • Accelerating momentum in UK • Robust underlying performance in Germany • Reduced operating loss in WE • Near doubling of adjusted EPS Balanced capital allocation • Continuing rollout of upgraded systems and tools • Integration Center investments to support growing AI data center demand • Completion of two acquisitions in North America: AgreeYa and GAI Good strategic progress • Market share gains in Technology Sourcing and Professional Services • Growth in major customers to 216 (+18 yoy) • North America 62% of Group adjusted operating profit (+18pts yoy) Highlights 2026 outlook raised • Record committed product order backlog of £9.3bn at 30 June 2026 • Strong start to second half, with further increase in order backlog, particularly in North America • Now expect FY26 adjusted PBT to be significantly ahead of market expectations
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Financial review Keith Mortimer, CFO
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5 H1 2026 Financial highlights Refer to the Appendix in our H1 2026 Results announcement for definitions of APMs +57.6% +58.6% CCY Gross invoiced income £8.9bn +71.6% +73.3% CCY Revenue £6.8bn +30.5% +30.5% CCY Gross profit £657.9m +86.5% +87.6% CCY Adjusted operating profit £153.1m +11.0% Adjusted net funds £308.7m +87.7% CCY +87.0% Adjusted PBT £152.4m +94.1% Adjusted diluted EPS 101.9p +14.8% Dividend 27.1p
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• Strong GII growth driven by North America and UK Technology Sourcing • Gross profit up 30.5% in constant currency with gross margin performance reflecting high-volume, lower margin Technology Sourcing • Improved operating leverage • Adj. operating profit up 87.6% in constant currency with £4.6m increase in Group-wide investments • Adj. PBT up 87.7% in constant currency • Adj. diluted EPS up 94.1% 6 H1 2026 Income statement H1 2026 £m H1 2025 £m Change Change (CCY) Gross invoiced income (GII) 8,927.5 5,665.3 +57.6% +58.6% Revenue 6,845.2 3,988.8 +71.6% +73.3% Gross profit 657.9 504.2 +30.5% +30.5% Gross profit as % revenue 9.6% 12.6% (303bps) Adjusted admin expenses (504.8) (422.1) +19.6% +19.4% Adjusted operating profit 153.1 82.1 +86.5% +87.6% Net finance income/(expense) (0.7) (0.6) Adjusted profit before tax 152.4 81.5 +87.0% +87.7% Adjusted tax rate 29.5% 30.3% 0.8pts Adjusted diluted EPS (p) 101.9 52.5 +94.1% Diluted EPS (p) 94.7 46.5 +103.7% Dividend (p) 27.1 23.6 +14.8%
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• Technology Sourcing volume growth and lower gross margin % driven largely by high-volume projects in North America and UK • Increase in Services volume driven by Professional Services and acquisition of AgreeYa • Increase in SG&A driven by higher variable compensation linked to strength of Group performance 7 £m in constant currency Operating profit bridge H1 2025 EBIT1 H1 2026 EBIT1 Technology Sourcing Volume SG&AServices Volume Services Margin Technology Sourcing Margin 310.7 82.1 81.6 (169.5) 21.5 (9.1) (82.1) 153.1 1. EBIT refers to adjusted operating profit +87.6% CCY Currency H1 2025 EBIT1 (CCY) (0.5)
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• North America - outstanding performance • UK – accelerating momentum • Germany – robust underlying performance • Western Europe – operating loss reduced 8 £m reported Operating profit bridge by geography H1 2025 EBIT1 H1 2026 EBIT1 North America UK Germany International Central costs Western Europe 246.7 78.8 9.1 4.0 69.4 1.1 (7.5) 153.1 (5.1) 1. EBIT refers to adjusted operating profit +86.5% 82.1
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Outstanding performance in North America; accelerating momentum in UK Performance overview by geography (1) United Kingdom • Accelerating momentum − Technology Sourcing growth: large AI infrastructure projects with growth in corporate and public sector − Strong Professional Services growth − Tempered by underperforming Managed Services contract North America • Another record performance − Hyperscale, neocloud and enterprise growth − Strong Professional Services growth • Strong operating leverage • 139.0% organic growth in adjusted operating profit Committed product order backlog of £1.4bn +208% YoY at 30 June 2026 Committed product order backlog of £6.9bn +414% YoY at 30 June 2026 H1 2026 £m % ch CCY GII 4,430.4 +81.3% Revenue 3,838.6 +90.9% Gross profit 268.6 +77.3% Opex (150.1) +44.6% Adj op. profit 118.5 +148.4% H1 2026 £m % ch CCY GII 2,294.2 +76.0% Revenue 1,512.7 +136.4% Gross profit 160.1 +31.3% Opex (133.7) +27.8% Adj op. profit 26.4 +52.6% 9
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Germany - underlying performance robust; Western Europe improved Performance overview by geography (2) Western Europe • £4m reduction in operating loss mainly driven by France − Increased public sector activity against a soft comparative − Actively managing costs Germany • Robust underlying performance against challenging economic backdrop − Technology Sourcing growth − Professional Services revenue stable − Managed Services revenue decline partly reflecting exit of legacy data center contracts − Gross profit includes earlier- than-expected recognition of costs to manage capacity and efficiency H1 2026 £m % ch CCY GII 1,445.3 +15.9% Revenue 1,060.3 +17.0% Gross profit 161.7 (3.1%) Opex (118.7) +1.2% Adj op. profit 43.0 (13.3%) H1 2026 £m % ch CCY GII 738.4 +20.9% Revenue 414.7 +12.1% Gross profit 51.2 +9.6% Opex (56.1) +0.5% Adj op. loss (4.9)1 nm 1. H1 2025 adj operating loss £8.9m 10 Committed product order backlog of £416m +164% YoY at 30 June 2026 Committed product order backlog £559m +133% YoY at 30 June 2026
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11 North America 62% of Group operating profit1 Diversified by Service Line and geography Revenue by Service Line Technology Sourcing Professional Services Managed Services +6.6pts (2.0pts) (4.6pts) Change in share Share of Group 86.4% 7.6% 6.0% +88.8% +34.4% (4.5%) Change in CCY Revenue by geography North America Germany UK Western Europe International +3.8pts (6.5pts) +6.1pts (2.9pts) (0.5pts) Change in share Share of Group 56.1% 15.5% 22.1% 6.1% 0.2% +90.9% +17.0% +136.4% +12.1% (22.2%) Change in CCY Adj. operating profit1 by geography £190.3m1 +71.0% in CCY North America Germany UK Western Europe International +18.4pts (20.4pts) (1.6pts) +5.4pts (1.8pts) Change in share Share of Group 62.3% 22.6% 13.9% (2.6%) 3.8% +148.4% (13.3%) +52.6% nm +25.9% Change in CCY £6,845m +73.3% in CCY £6,845m +73.3% in CCY 1. Before central costs
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12 Driven by TMT, with growth across all sectors Delivering significant growth in Data Center and Networking Share by Technology Area and YoY growth % Share by Customer Sector1 and YoY growth % 1. Based on customers with greater than £1m of gross profit Workplace +24% Data center, cloud & apps +94% Networking & Security +80% TMT +126% Financial, Professional Services +12% Government, Education, Healthcare +18% Industrial, Retail, Consumer +9% H1 2026 Group Technology Sourcing GII H1 2026 GII by major customer
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Investing for growth while delivering returns to shareholders H1 2026 cash flow generation 40.4 (245.1) (49.9) (34.5) (30.1) (124.1) 143.3 Working capital • As anticipated, H1 outflow reflects unwind of early customer payments at year end • Working capital effectively managed given significant volume growth driven by large North America and UK contract wins Adjusted net funds • Adjusted net funds at 30 June 2026 £309m (H1 2025 : £278m) despite £124m of acquisition spend Strong balance sheet maintained 1. EBIT refers to operating profit 13 278.0 606.0 308.7 H1 2026 EBIT1 Share repurchase Deprec’n & other Change in WC CapexNet interest M&AFY 2025 Adj net funds Tax FX/otherH1 2025 Adj net funds H1 2026 Adj net funds 2.5 0.2 Net cash flow from: Inventories (770.8) Trade and other receivables (562.5) Trade and other payables 1,088.2 Change in WC (245.1)
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14 £1.1bn of capital distributed to shareholders since 2013 Disciplined and balanced approach to capital allocation Capital returns to shareholders (£m) Returns to shareholders • Dividend policy: dividend cover of 2-2.5x adj. diluted EPS • 2026 interim dividend +14.8% • Over £1bn of capital distributed to shareholders since 2013 M&A • Continue to assess acquisitions based on strategic fit • Acquisitions of AgreeYa and GAI completed in H1 2026 • Acquisitions have built geographic and business line diversity and enhanced operational resilience of the Group Organic investment • Drive market share gains and improve efficiency FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 Total Return since 2013 £1.1bn1 1. FY 2025 Final dividend paid in July 2026 FY261 Dividend Special returns
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15 2026 Technical guidance Exchange rates Central costs Capex Adjusted effective tax rate Dividend cover 1. H1 2026 GBP/USD $1.345; GBP/EUR €1.153 c.(£3m) FY 2025 foreign exchange rates for Income Statement1: GBP/USD $1.318 GBP/EUR €1.168 £75-80m Increase due to: Incentive based pay; Accelerated IT systems investment c.£70-75m New Atlanta Integration Center + ERP upgrade design phase 28.5-30.5% Decrease due to: North America earnings mix 2-2.5x adjusted diluted EPS
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Operating review Mike Norris, CEO
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17 Target market customers Empower our people Scale and leverage our activities Our strategic choices are driving growth We build long-term relationships with the largest corporate and public sector organisations. We trust our teams to make responsible decisions that help us meet the needs of our customers faster. We create economic advantage and customer value in our core offerings.
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18 Building long-term value Powerful partnerships We work closely with the world’s leading technology firms. With over 3,000 vendor relationships, we’re trusted for our independent advice. Resilient scale infrastructure We have the most capable facilities, underpinned by globally consistent, best of breed systems and processes. People and culture We have great people, guided by shared values, focused on meeting the needs of our customers faster. Services breadth and scale We have the largest service capability of any VAR in the world. Market-leading international coverage We have the best international capability of any VAR in the world. Customer track record We have built long-term trust with many of the world’s leading organisations. Our differentiators Our growth model Attractive market growth Above-market growth Leveraging group scale Profit and cash generation IT spend – durable growth trends Market share gains to deliver above market growth Group operating model enabling delivery of scale benefits Track record of delivering cash-backed profit growth enabling sustainable investment, M&A and returns
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54 55 48 54 58 63 61 55 64 63 67 64 67 66 19 25 25 22 23 26 2233 38 43 48 53 59 67 18 major customers added yoy Growth in major customers 2023 179 2021 161 2022 182 2024 Major customers each generating >£1m of gross profit pa • Increasing the number of major customers is an important driver of long-term growth and resilience • Net 18 major customers added year on year; 8 from acquisitions • Well positioned for full year 191 215 H1 2025 19 2025 H1 2026 216 198
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20 North America: strong organic growth from targeted acquisitions Established Computacenter US Inc. 2005 2016 Took control of US service functions FusionStorm acquisition 2018 BITS acquisition 2022 2020 Pivot acquisition 2025 ProSys acquisition (non-controlling interest) AgreeYa acquisition 2026 2026 GAI acquisition Excellent organic from leveraging Computacenter Group and our investments in NA
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43 1 1 6 12 18 43 65 81 92 172 129 64 159 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 H1 25 H1 26 21 62% of Group adjusted operating profit in H1 2026 North America – strong execution and momentum Operating profit ($m) • Growth driven by both hyperscale, neocloud and enterprise customers • Net 14 major customers added; 8 from acquisitions • More than doubling of adjusted operating profit • Good near-term visibility reflecting strong order intake across the half • £6.9bn committed product order backlog (£5.1bn at end of 2025) 21 ‘Value added’ • Organic growth • Revenue and cost synergies +148.4% in CCY Operating profit acquired
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22 Enabling our Technology customers to accelerate digital infrastructure expansion Data center and Networking expertise driving growth Share by Technology Area and YoY growth % Share by Customer Sector and YoY growth % H1 2026 Technology Sourcing GII 1. Based on customers with greater than £1m of gross profit Workplace +29% Data center, cloud & apps +46% Networking & Security +90% TMT +109% Financial, Professional Services +337% Government, Education, Healthcare (17%) Industrial, Retail, Consumer +55% H1 2026 GII by major customer1
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23 Highly complementary acquisition GAI adds new US federal growth opportunity 90 people Adds 3 major customers ~$8m EBITDA ~$390m gross invoiced income revenue GAI at a glance Focused US federal government Value-Added Reseller headquartered in Cincinnati, Ohio Up to $92m EV $63m initial cash payment 2027 earnout period Immediately earnings accretive Unlocking new US federal growth opportunity New growth market Provides direct access to the large US federal government sector, building on Computacenter's established public sector credentials in Europe and Canada Specialist capability Adds a trusted IT solutions partner with 35+ years of experience and deep federal agency relationships Leadership continuity Existing GAI leadership remains in place, operating as a specialist federal government-focused unit within North America
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• Results from more targeted approach and greater proximity to customers now visible • Technology Sourcing growth − high-performance AI-related infrastructure projects driving growth; good order intake − growth in corporate and public sector • Growth in Professional Services − growth across workplace, cyber, cloud and apps • Growth in Managed Services with recent wins are pulling through significant Professional Services and Technology Sourcing revenue UK – accelerating momentum Adjusted operating profit (£m) 13.4 27.3 17.3 25.0 26.4 H1 24 H2 24 H1 25 H2 25 H1 26 Growth drivers 24 Share by Technology Area and YoY growth % Share by Customer Sector and YoY growth % 1. Based on customers with greater than £1m of gross profit Committed product order backlog (£m) Workplace +38% Data center, cloud & apps +221% Networking & Security +29% TMT +337% Industrial, retail, consumer +57% Financial, Professional Services +60% Government, education, healthcare +8% H1 2026 Technology Sourcing GII H1 2026 GII by major customer1 449.0 1389.0 1382.3 H1 2025 FY 2025 H1 2026
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25 Projects delivered by UK team Delivering AI infrastructure at scale
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26 Germany – robust underlying performance Adjusted operating profit (£m) 59.5 97.4 48.1 109.2 43.0 H1 24 H2 24 H1 25 H2 25 H1 26 Growth drivers 1. Based on customers with greater than £1m of gross profit Product order backlog (£m) 240.0 361.1 558.7 H1 2025 FY 2025 H1 2026 • Robust underlying performance against a challenging market backdrop • Technology Sourcing delivered growth across all technology areas and in both public sector and corporate • Professional Services revenue unchanged with public sector remaining subdued • Actively managing our Services resources to align with demand • Positive demand indicators for H2 2026 and beyond Share by Technology Area and YoY growth % Share by Customer Sector and YoY growth % Workplace +22% Data center, cloud & apps +42% Networking & Security +21% TMT +24% Industrial, retail, consumer (3%) Financial, Professional Services (22%) Government, education, healthcare +19% H1 2026 Technology Sourcing GII H1 2026 GII by major customer1
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27 Western Europe – France refocus underway Adjusted operating profit (£m) 2.1 11.6 -8.9 1.1 -4.9 H1 24 H2 24 H1 25 H2 25 H1 26 Growth drivers 1. Based on customers with greater than £1m of gross profit Product order backlog (£m) 157.6 332.6 416.0 H1 2025 FY 2025 H1 2026 Improved performance in Western Europe, mainly driven by France: • Increased public sector activity against a soft comparative • Adopting a more focused approach and actively managing costs • Clear focus on increasing share of private sector customers Share by Technology Area and YoY growth % Share by Customer Sector and YoY growth % Workplace - Data center, cloud & apps +153% Networking & Security +82% Industrial, retail, consumer +6% Financial, Professional Services nm Government, education, healthcare +21% H1 2026 Technology Sourcing GII H1 2026 GII by major customer1
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Further progress with roll out of our Group-wide investments 28 Managed ServicesProfessional Services New Sales CRM and Quotation systems deployed globally to approximately 2,000 users, rollout across Europe completed in Q1 2026 New vendor management system now live in Europe AgreeYa India team integrated into CC India in H1 2026, US due H1 2027 Significant expansion of deployment services in US to support data center projects Technology investments Supply Chain investments: • New SAP warehouse management system • France live in Q2 2026 • Hatfield liquid cooling facility to complete in 2026 • New Atlanta Integration Center to open in 2027 • Deployed Genesys Contact Center software globally • Legacy systems decommissioned Technology Sourcing • Executing a ‘zero trust’ strategy to securely enable customers, partners and employees • Continuing to increase our NIST maturity Cyber security • Continued rollout of ServiceNow platform and Core Device Lifecycle Management (DLM) capability • Migrating India and AgreeYa onto ERP in H1 2027 • SAP S/4 HANA upgrade detailed design work commenced during H1 2026 ERP systems modernisation Sales & customer engagement Circular Services ERP system configured for our specific needs Germany to go live by end of 2026 Circular Services Artificial intelligence Leveraging AI capabilities of new platforms: e.g. ServiceNow, Salesforce, Genesys Microsoft Copilot widely deployed internally in H1 2026 28
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29 Scale infrastructure across our geographies Integration Center investments progressing well Hatfield - liquid cooling facility to open in 2026New Atlanta Integration Center to open in 2027 • £4m investment in infrastructure and technology • Multi-vendor facility delivering closed loop liquid-cooled rack configuration and testing • £32m investment • 265k sq ft – double size of existing nearby Alpharetta facility, more than triple the capacity with automation • Includes ~5,000 KW liquid-cooled rack configuration and testing
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30 Save the date Capital Markets Event 24 November 2026 - hosted in Hatfield, United Kingdom Mike Norris CEO Keith Mortimer CFO To include updates on: Our North America growth opportunity Our differentiated European Data Center capability Site visit of the Hatfield Integration Center and new Liquid Cooling Facility
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31 Summary and outlook Excellent first half performance • Results significantly ahead of expectations at start of year • Growth in Technology Sourcing and Services • Outstanding performance in North America • Accelerating momentum in the UK Balanced capital allocation • Strong balance sheet maintained • Investing in our infrastructure to support data center demand • Two acquisitions completed in North America 2026 outlook raised • Strong start to second half, with further increase in order backlog, particularly in North America • Now expect FY26 adjusted PBT to be significantly ahead of market expectations Continued good strategic progress • Growth in major customers • North America now the largest contributor to the Group • Building Service Line scale and competitive advantage
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Q&A
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Appendix
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Capital returned to shareholders (£m) 34 Long-term growth in earnings, cash and shareholder returns 175.110 year CAGR 13% FY24FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22FY23 10 year CAGR 12% FY24FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22FY23 FY24FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22FY23 293.6 Total Return since 2013 £1.1bn Adjusted diluted EPS (p) Net cash flow from operations (£m) FY25 FY25 FY25 FY261 Dividend Special returns 1. FY 2025 Final dividend paid in July 2026
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35 H1 2026 Summary income statement H1 2026 £m H1 2025 £m Change Constant currency Technology Sourcing 7,992.4 4,856.5 64.6% 66.2% Professional Services 522.6 384.0 36.1% 34.4% Managed Services 412.5 424.8 (2.9%) (4.5%) Services 935.1 808.8 15.6% 13.9% Gross invoiced income 8,927.5 5,665.3 57.6% 58.6% Technology Sourcing 5,910.1 3,180.0 85.9% 88.8% Services 935.1 808.8 15.6% 13.9% Revenue 6,845.2 3,988.8 71.6% 73.3% Gross profit 657.9 504.2 30.5% 30.5% Gross profit % 9.6% 12.6% Adjusted admin expenses (504.8) (422.1) 19.6% 19.4% Adjusted operating profit 153.1 82.1 86.5% 87.6% Adjusted operating profit % 2.2% 2.1% Net finance income/(expense) (0.7) (0.6) nm nm Adjusted profit before tax 152.4 81.5 87.0% 87.7% Adjusted tax expense (45.0) (24.7) 82.2% 82.2% Adjusted tax rate 29.5% 30.3% Adjusted profit after tax 107.4 56.8 89.1% 90.1% Diluted earnings per share – Adjusted EPS (p) 101.9 52.5 94.1% – EPS (p) 94.7 46.5 103.7%
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36 Adjusting items H1 2026 £m H1 2025 £m Adjusted operating profit 153.1 82.1 Amortisation of acquired intangibles (8.8) (5.1) (Costs) / gains related to acquisitions (1.0) (3.2) Loss on impairment - Operating profit 143.3 73.8
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£m H1 2026 FY 2025 H2 2025 H1 2025 Adjusted operating profit UK 26.4 42.3 25.0 17.3 Germany 43.0 157.3 109.2 48.1 Western Europe (4.9) (7.8) 1.1 (8.9) North America 118.5 129.6 80.5 49.1 International 7.3 15.1 8.9 6.2 Central costs (37.2) (61.8) (32.1) (29.7) Group adjusted operating profit 153.1 274.7 192.6 82.1 37 Adjusted operating profit by geography – H1/H2 splits
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38 Inventory by geography 30 June 2026 £m 30 June 2025 £m Change Constant currency United Kingdom 276.8 18.5 1,396.2% 1,396.2% Germany 189.9 85.1 123.1% 121.1% Western Europe 50.4 13.5 273.3% 270.6% North America 722.0 191.3 277.4% 265.0% International 21.3 8.4 153.6% 163.0% Total Group 1,260.4 316.8 297.9% 289.1%