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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.
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H1 2026 earnings summary12 May, 2026

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.

Impact of pension buy-in on IAS 19 surplus
Drivers of gross profit growth in Premium
Shanghai Innovation Centre impact on China sales
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