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Treatt (TET) investor relations material
Treatt H1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Revenue declined 6.5% year-over-year to £59.9m, mainly due to lower Heritage and Premium volumes and slow citrus recovery.
Adjusted EBITDA fell 18.1% to £5.4m, and profit before tax and exceptionals dropped 33.4% to £2.5m.
Strategic progress included growth in health & wellness, new powdered citrus products, and strong expansion in China.
A recommended cash offer from Döhler Finance Management B.V. at 305p per share was announced.
Financial highlights
Gross profit margin was 24.9%, down 20 bps year-over-year; adjusted operating margin declined 130 bps to 4.7%.
Net debt at period end was £4.4m, improved from £5.9m at year-end 2025, reflecting robust cash generation.
Adjusted basic EPS was 3.04p (down 33.3%), statutory EPS 2.48p (down 31.7%).
Cash inflow from operations was £2.8m, with inventories reduced by £1.2m.
Outlook and guidance
Full-year performance expected in line with management expectations, with greater weighting to H2 due to ongoing citrus recovery and robust order pipeline.
Macroeconomic and geopolitical pressures persist, but cost control and customer engagement remain priorities.
- Revenue and margins declined, but cost control and APAC expansion support FY26 recovery.TET
H2 202520 Jan 2026 - Record sales, 6% revenue growth, and a strategic shift toward premium and Asian markets.TET
H2 202412 Jan 2026 - Revenue and profit fell, but robust cash flow and strategic wins support revised outlook.TET
H1 202526 Nov 2025 - FY 2025 revenue and profit guidance cut; focus shifts to efficiency and future growth.TET
Trading Update24 Jul 2025 - Strong H2 momentum drove profit and revenue growth, with net debt sharply reduced.TET
Trading Update13 Jun 2025 - Revenue and profit fell, but strong cash flow and strategic wins support future growth.TET
Trading Update6 Jun 2025 - Q2 starts strong with robust orders; outlook and cash generation remain on track.TET
Trading Update6 Jun 2025
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