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GENUIT GROUP 2026 Half Year Results 11 August 2026
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Disclaimer The information contained in this presentation has not been independently verified and this presentation contains various forward-looking statements that reflect management’s current views with respect to future events and financial and operational performance. The words “growing”, “scope”, “platform”, “future”, “expected”, “estimated”, “accelerating”, “expanding”, “continuing”, “potential” and “sustainable” and similar expressions or variations on such expressions identify certain of these forward-looking statements. Others can be identified from the context in which the statements are made. These forward-looking statements involve known and unknown risks, uncertainties, assumptions, estimates and other factors, which may be beyond Genuit Group plc’s (the “Group’s”) control, and which may cause actual results or performance to differ materially from those expressed or implied from such forward-looking statements. All statements (including forward-looking statements) contained herein are made and reflect knowledge and information available as of the date of this presentation and the Group disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements due to the inherent uncertainty therein. Nothing in this presentation should be construed as a profit forecast. This presentation includes images created using AI.
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Agenda HY26 1 Introduction 2 Financial Update 3 Strategic Progress & Outlook 4 Q&A Joe Vorih CEO Tim Pullen CFO
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Taking action to navigate challenging market conditions Challenging trading environment ▪ Subdued market demand resulting in lower volumes ▪ Middle East conflict and cost inflation ▪ Lower UK growth and higher for longer interest rates Decisive management actions ▪ Balanced cost and price action ▪ Business simplification accelerated and costs tightly controlled ▪ Strong progress on acquisition integration Outlook ▪ FY expectations unchanged, with H2 margin improving sequentially ▪ Over £4m of operating profit benefit in FY27 from simplification initiatives ▪ Regulatory and sustainability related drivers have an increasingly positive impact from 2027 Ongoing deployment of the Genuit Business System (GBS)
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Tim Pullen, CFO Financial Results
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Financial Highlights EBIT £43.9m Down 1.6% Challenging trading environment 4.2p Held DPS In line with policy Revenue £307.8m Up 3.4% Acquisitions more than offset LFL down 4.8% EBIT Margin 14.3% Down 70 bps Resilient performance 71.3% Cash Conversion 1.6x Leverage Within 1 -2x Up 620 bps In line with expectations following acquisitions Expected seasonality
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Summary P&L ▪ Half-year revenue like-for-like basis decreased by 4.8% : ▪ Weak business and consumer confidence ▪ Middle East conflict from March ▪ Wet weather in January and February ▪ 70bps reduction in underlying operating margin, impacted by: ▪ Cost inflation in March and April before price increases in May ▪ Inventory and supplier quality at Adey ▪ Benefit of accretive acquisitions £m H1 2026 H1 2025 Change Revenue 307.8 297.8 3.4% Cost of sales (173.5) (167.1) 3.8% Gross profit 134.3 130.7 2.8% Gross margin 43.6% 43.9% (30) bps Selling, distribution and administration costs (90.4) (86.1) 5.0% Underlying operating profit 43.9 44.6 (1.6)% Underlying operating margin 14.3% 15.0% (70) bps Net finance costs (7.1) (5.8) 22.4% Underlying profit before tax 36.8 38.8 (5.2)% Underlying basic earnings per share (p) 10.5 11.6 (9.5)% Dividend per share (p) 4.2 4.2 -
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0.3% 70.6% 29.1% Water Division Climate Division Other Financial Results: Revenue 297.8 307.8 H1 2025 H1 2026 32.7% 30.4% 26.7% 10.2% UK New Build UK RMI UK Non-Housing * International Group Revenue H1 2026 Revenue Breakdown £m * Non-Housing primarily consists of commercial, infrastructure, and public non-housing expenditure
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Financial Results: Profit 44.6 43.9 15.5 16.5 17.5 0 20 40 H1 2025 H1 2026 14.3% Group Underlying Operating Profit and Margin ▪ Underlying operating profit £43.9m, a decrease of 1.6% on a reported basis (13.5% reduction like-for-like) ▪ Drivers of the lower underlying operating profit: ▪ Lower trading volumes ▪ Impact of cost inflation in March and April before price increases in May ▪ Operational issues at Adey - £2.3m ▪ £5.0m operating profit contributed by 2025 acquisitions ▪ Simplification initiatives will generate over £4m of operating profit benefit in 2027 £m 15.0%
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Financial Results Divisional Overview Half Year 2026 13.7% 15.9% 44.6 -3.4 2.4 0.3 43.9 H1 2025 Climate Water Other * H1 2026 297.8 2.1 8.5 -0.6 307.8 H1 2025 Climate Water Other * H1 2026 Revenue (£m) Underlying Operating Profit (£m) 15.0% 14.3% * Other- relates to Polydeck Limited which, due to it being held-for-sale and subsequently sold, was not reported as part of the Group’s Divisions during th e period.
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Financial Results: Climate Division 87.6 89.7 12.1 8.7 H1 2025 H1 2026 Underlying Operating Profit Revenue ▪ Revenue 2.4% higher YoY (8.1% lower on a like-for- like basis): ▪ Resilience in commercial and residential ventilation ▪ Subdued heating market ▪ Underlying operating margin 420 basis points lower than 2025, impacted by two issues at Adey ▪ A slow-moving stock provision of £1.5m ▪ Supplier quality failure with an impact of £0.8m ▪ Rapid technical integration between Nuaire and Monodraught products complete ▪ H2 commercial launch of integrated solutions ▪ First two orders received in July £m H1 2026 H1 2025 Growth Revenue £89.7 £87.6 2.4% Underlying operating profit £8.7 £12.1 (28.1)% Underlying operating margin 9.7% 13.9% (420)bps 9.7% 13.8% £m
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Financial Results: Water Division ▪ Revenue 4.1% higher YoY (3.3% lower on a like-for- like basis) ▪ Subdued residential markets ▪ Project delays in civils and infrastructure ▪ Underlying operating profit increased 7.3% with margin at 16.2% (flat YoY LFL at 15.7%) ▪ Accelerating rationalisation of two Davidson sites into larger Genuit facilities with no loss of capacity 208.8 217.3 32.7 35.1 H1 2025 H1 2026 Revenue £m H1 2026 H1 2025 Growth Revenue £217.3 £208.8 4.1% Underlying operating profit £35.1 £32.7 7.3% Underlying operating margin 16.2% 15.7% 50bps 15.7% £m 16.2%
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£m H1 2026 H1 2025 Non-underlying items: Amortisation of intangible assets (6.9) (7.1) IT Systems and transformation costs (4.0) (0.2) Restructuring costs (3.9) (0.6) Impairment of right-of-use (ROU) property (1.0) - Loss on disposal of subsidiary undertaking (1.0) - Social engineering fraud insurance excess and associated costs (0.6) - Acquisition related costs (0.2) (0.2) Unwind of inventory fair value adjustment (0.1) - Profit on disposal of property plant and equipment - 1.0 Non-underlying items before taxation (17.7) (7.1) Tax effect of non-underlying items 4.2 2.1 Total non-underlying items (13.5) (5.0) Financial Results: Non-Underlying Items ▪ £9.0m non-cash non-underlying items before tax ▪ £4.0m investment in multi-year IT systems and process transformation to drive productivity and efficiency ▪ Restructuring costs of £3.9m to further simplify the Group (associated £1.0m ROU impairment) ▪ £1.0m loss on Polydeck Limited disposal
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£m H1 2026 H1 2025 Change Cash EBITDA (before non-underlying items) 59.9 59.4 0.5 Capex (10.8) (12.1) 1.3 Leases (5.4) (3.9) (1.5) Working capital (17.1) (20.7) 3.6 Underlying cash generated from operations 26.6 22.7 3.9 Interest paid (6.4) (4.6) (1.8) Interest received 0.4 0.6 (0.2) Taxation (6.7) (7.6) 0.9 Dividends (21.9) (20.8) (1.1) Net cash flows (8.0) (9.7) 1.7 Non-underlying proceeds of sale - 1.6 (1.6) Non-underlying cash items (5.1) (4.4) (0.7) Proceeds from exercise of share options 2.5 - 2.5 Acquisitions - (0.2) 0.2 Other (0.1) 0.1 (0.2) Increase in net debt (10.7) (12.6) 1.9 Financial Results: Cash Flow ▪ 71.3% cash conversion (H1 2025: 65.1%) ▪ Continued focus on working capital improvement through GBS ▪ Net debt pre IFRS 16* of £190.5m (FY 2025: £179.3m) reflecting H2 2025 acquisitions *including unamortised debt issue costs
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Financial Results: Capital Allocation ▪ Continued investment in our businesses ▪ Optionality for further strategic bolt- on acquisitions to create compounding growth ▪ Dividend maintained ▪ Optionality for buy-backs at lower levels of leverage, depending on pipeline of investment opportunities Organic investment Disciplined approach to M&A Progressive dividend policy 1-2x Net debt to EBITDA Investment in innovation, efficiency and sustainability to deliver future growth Filling portfolio gaps and building value-added solutions Balancing growth and shareholder returns Maintaining a robust balance sheet with headroom for investment Maximising value through efficient capital deployment
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Joe Vorih, CEO Strategic Progress & Outlook
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Our purpose Together, we create sustainable living
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Our Sustainable Solutions for Growth strategy Focusing on higher-growth, sustainability-driven markets, through organic growth and disciplined M&A opportunities Growth Providing the lowest-carbon choice for our customers to maximise exposure to structural growth drivers Sustainability Creating value through lean transformation and operational excellence Genuit Business System Enabling growth through the capability, expertise and development of our employees People & Culture
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19 Genuit is well placed to benefit from regulatory tailwinds Social and Affordable Homes Plan – February 2026 Beginning of £39bn funding for 300,000 new homes Future Homes Standard – March 2027 Comes into force for all standard new homes Future Homes Standard – September 2027 Comes into force for High-Risk Buildings Future Homes Standard – March 2028 End of grace period Social and Affordable Homes Plan – 2036 Deadline to complete the 300,000 new homes (60% targeted for social rent) NEW HOMES EXISTING HOUSING STOCK INFRASTRUCTURE AND EDUCATION Awaab’s Law Phase 1 Social Landlords (Damp/Mould) New PRS Database – Late 2026 Private Landlords (registration & Ombudsman) Warm Homes Plan – January 2027 The expanded grant framework begins EPC C Deadline – 2030 Social & Private Landlords (MEES) Warm Homes Plan – January 2030 Final deadline to meet energy efficiency standards and complete the upgrade on 5 million homes Decent Homes Standard – 2035 Social & Private Landlords AMP8 – April 2025 Start of 5-year cycle, £104bn spend on infrastructure Reduce storm overflows by 45% by 2030 Build drought resilient schemes Meet operational carbon reduction targets Significantly reduce leakages CF25 - January 2026 Department of Education £15.4bn procurement framework for educational facilities begins AMP8 – March 2030 Deadline for spending period and assessments of targets met CF25 - January 2032 End of construction framework with possible extension to 2034 Active Imminent Future
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Growth case study: Water £7m Quote bank up in the past 12 months Following the increase in demand from AMP8 funded projects, the Group’s AMP8 project quote bank is up £7m in the last 12 months, to £9m Polypipe is also delivering its first AMP8 projects to Yorkshire Water
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Orders up on prior year 24% (11 months since acquisition) Growth case study: Climate Following an increase in demand from CF25 projects, Monodraught’s overall order intake has exceeded £2m per month, ahead of expectation Monodraught and Nuaire controls integration now commercially available, with first two orders secured for new schools
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Case study: GBS Productivity gains: Increased capacity by 40% Improved productivity 28% Increasing capacity to support growth Monodraught reduced the production area needed to manufacture one of its key products, and improved productivity by 28% by using the GBS tool 3P (Production Preparation Process). The result: ▪ Reduced floorspace needed to manufacture by 50% ▪ Increased capacity in manufacturing by 40% ▪ Improved productivity by 28% ▪ Reduced work in process inventory
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Increasing evidence of sustainability leading to commercial advantage 3,194 views 688 projects 353 end users 64% of the time was the lowest-carbon supplier 57% EPD Revenue coverageIn 2025, Genuit had Genuit’s EPDs* on the One Click LCA** platform, have driven high engagement in the past six months from added to and *EPD- Environmental Product Declaration **LCA – Life Cycle Analysis
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Investing in our people No. of employees in Earn and Learn up 16.5pps between 2022 - 2026 c.20% of employees are in Earn and Learn programmes
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M&A – Substantive Progress ▪ Revenue synergy opportunity now believed to be greater than business case ▪ Technology transfer in progress with EC-Link and further projects underway to integrate solutions ▪ Clear pathway to Group margin target ▪ Cost synergies on track, with further opportunities identified and being accessed ahead of business case ▪ Ongoing work to increase the market access of niche brands such as Cistermiser and Talon through Genuit commercial footprint ▪ H1 in line with Group margin target WATER DIVISIONCLIMATE DIVISION
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▪ Challenging market conditions are expected for remainder of the year ▪ Ongoing Middle East conflict ▪ Current UK political and economic circumstances ▪ Underlying operating margins will benefit in the second half from ▪ Balanced cost and price management ▪ Non-recurrence of Adey’s operational challenges ▪ Productivity gains from Genuit Business System projects ▪ The Group’s expectations for the full year remain unchanged ▪ Profitability will benefit from over £4m of annualised cost savings in FY27 ▪ The Group expects structural growth drivers to create increasing levels of opportunity from next year Outlook
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Our Investment Case Delivering compound earnings growth from sustainability-driven growth markets Operating in built environment sectors with inherent sustainability-linked growth drivers Differentiated, innovative, low - carbon building products and solutions Leading positions across diverse markets, with strong brand recognition Significant margin expansion potential, through GBS, lean initiatives and operating leverage Opportunity to expand solution offering through strategic acquisitions Highly cash- generative business model, with effective capital allocation through-cycle target outperformance of the UK construction market 2-4% 30% reduction in scopes 1 & 2 emissions by 2027 Net-zero by 2050 c.20% share of £3bn+ UK served addressable market >20% operating margin target Target of >20% ROIC Over 90% cash conversion target
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Thank you 11 August 2026