Origin Enterprises PLC
LSE:OGN
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Origin Enterprises PLC
LSE:OGN
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Unibep SA
WSE:UNI
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Origin Enterprises PLC
Origin Enterprises Plc engages in the provision of value added services, technologies, and inputs that address the requirements of primary food producers. The company is headquartered in Dublin, Dublin and currently employs 2,641 full-time employees. The company went IPO on 2007-06-05. The firm's manufacturing, research and development operations are based in Ireland, the United Kingdom (UK), Poland, Romania and Ukraine. Its segments include Ireland and the United Kingdom, Continental Europe and Latin America. The Ireland and the United Kingdom segment includes the Company's wholly owned Irish and UK based business-to-business Agri-inputs operations, integrated agronomy and on-farm services operations and digital agricultural services business. The Continental Europe segment includes the Company's business-to-business Agri-inputs operations and integrated agronomy operations in Belgium, Poland, Romania and Ukraine. The Latin America segment includes the Company's controlling interest in the Brazilian based specialty nutrition and crop inputs business, Fortgreen Commercial Agricola Ltd.
Origin Enterprises Plc engages in the provision of value added services, technologies, and inputs that address the requirements of primary food producers. The company is headquartered in Dublin, Dublin and currently employs 2,641 full-time employees. The company went IPO on 2007-06-05. The firm's manufacturing, research and development operations are based in Ireland, the United Kingdom (UK), Poland, Romania and Ukraine. Its segments include Ireland and the United Kingdom, Continental Europe and Latin America. The Ireland and the United Kingdom segment includes the Company's wholly owned Irish and UK based business-to-business Agri-inputs operations, integrated agronomy and on-farm services operations and digital agricultural services business. The Continental Europe segment includes the Company's business-to-business Agri-inputs operations and integrated agronomy operations in Belgium, Poland, Romania and Ukraine. The Latin America segment includes the Company's controlling interest in the Brazilian based specialty nutrition and crop inputs business, Fortgreen Commercial Agricola Ltd.
Revenue: Group revenue was EUR 852.6m, up 2.5% reported (5.1% constant currency).
Profitability: Management described H1 as "solid/robust" — Living Landscapes operating profit was up 8.3% and Agriculture was broadly flat with regional strength in Ireland/UK and LatAm but weakness in Continental Europe.
Operating profit: Two figures were stated: Sean quoted group operating profit moving from EUR 17.2m to EUR 17.4m; the finance review reported operating profit for the period of EUR 15.1m.
Balance sheet: Net debt EUR 283.5m, net debt/EBITDA 2.44x (bank covenant 3.5x); revolver extended to 2031.
Dividend: Interim dividend maintained at EUR 0.0315 per share.
Working capital / fertiliser risk: Inventories increased into H1 (higher fertiliser holdings driven by CBAM preparation and higher feedstock volumes); recent Middle East developments drove short-term spikes in gas and fertiliser prices.
Latin America: Operating profit in LatAm up 5% to EUR 11.3m; management cautious on customer credit but expects recovery in H2.
Living Landscapes strategy: Continued M&A pipeline and integration-driven synergies (management targeting c.8–10% of EBIT from synergies) with an objective to exit FY26 with a 30% run-rate margin in Living Landscapes.
Outlook & events: Earnings weighted to H2; Capital Markets Day pencilled in for 17 November to set next capital allocation plans.
