EarningsQ2 2026 Earnings Report
DE:7YC2 Q2 2026 EPS Results
Actual EPS€0.25
Consensus EPS―
Beat/Miss―
One Year Ago EPS-€0.30
DE:7YC2 Q2 2026 Revenue Results
Actual Revenue€1.11B
Expected Revenue―
Beat/Miss―
YoY Revenue Growth+3.15%
Earnings Announcement Details
QuarterQ2 2026
Date08/04/2026
TimeBefore Open
Conference CallTuesday, August 4, 2026
DE:7YC2 Upcoming Earnings
Synthomer's next earnings date is estimated for March 4, 2027, based on past reporting schedules.
Q2 2026 Earnings Call Audio
No earnings call audio is available for this earnings event.
Q2 2026 Earnings Slide Deck
No slide deck is available for this earnings event.
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call communicated a broadly positive operational and financial momentum: revenue and EBITDA growth, meaningful margin expansion across divisions (notably CCS), progress on strategic transformation (divestments and AS savings), a strengthened refinancing position and an upgraded full‑year outlook. However, the positives are tempered by several material constraints — intermittent manufacturing reliability issues that cost c. GBP 10m in H1, elevated net debt and interest costs, working capital seasonality and the fact that ~GBP 6m of H1 EBITDA reflected one‑off market disruption that management does not expect to repeat. Management plans further divestments (targeting GBP 150m–200m proceeds), expects improved free cash flow (excluding receivable financing) and forecasts lower year‑end leverage (4.0x–4.35x), supporting an overall improvement trajectory.Company Guidance
Revenue Growth Above Expectations
Group revenue grew ~5% in constant currency (reported revenue GBP 954m, +6.7% Y/Y), driven by all three divisions and a 2.3% increase in overall volumes.
Strong Profit and Margin Expansion
EBITDA rose ~13% overall and EBITDA margin improved by 80 basis points to 10.1%. Gross margin expanded by nearly 200 basis points and EBIT increased materially (management cited +36% and +~42% in different contexts reflecting continuing/discontinued adjustments).
Division-Level Outperformance — CCS
Coatings, Construction & Specialties (CCS) revenue rose GBP 8m (headline +7.5%, +5.8% constant currency). Volumes +2.5% and EBITDA increased 33% to GBP 46m, with margin expansion of 220 basis points to 11.5%. Notable product wins included intumescent coatings (volumes doubled YoY) and energy/onshore drilling solutions.
Adhesive Solutions Transformation Progress
Adhesive Solutions revenue grew ~2.6% in constant currency (volumes +0.9%). Division EBITDA increased 4.5% to GBP 36.7m and margin expanded 20 basis points to 12.1%. The transformation program has delivered cumulative annualized benefits of GBP 40m since 2023, with a target of GBP 43m+.
Health & Protection (HPPM) Recovery and Market-Leading NBR Position
HPPM continuing revenue GBP 249m (+11.7% Y/Y) and division EBITDA grew 13.7% to GBP 24.9m; margin +20 basis points to ~10%. Health & Protection volumes rose 13.5%, capitalizing on supply-side disruption to competitors in Q2 due to geopolitical events.
Balance Sheet Actions and Deleveraging Roadmap
Successful refinancing in April (bank/U.K. facilities ~GBP 680m maturing Feb 2029; bonds GBP 350m maturing July 2029). Net debt at end-June GBP 671m (leverage 4.9x) with committed liquidity near GBP 270m. Management expects year-end leverage between 4.0x–4.35x (ex further divestments) and free cash flow for the full year to be positive on an excluding-receivable-financing basis.
Divestment Progress and Expected Proceeds
Acrylate Monomers sale signed (treatment as discontinued; transaction expected to close end-September). Management has three further divestment projects underway and targets total proceeds of c. GBP 150m–GBP 200m to materially reduce net debt and improve capital efficiency.
Improved Cash Generation Trajectory and Lower CapEx Guidance
Underlying free cash flow excluding receivable-financing movements was cited at GBP 66m in H1 (management view: an improvement versus prior year dynamics). H1 CapEx GBP 33.5m; full-year CapEx guidance ~GBP 70m (significantly below 2025), enabling continued selective growth investments while reducing capital intensity.
DE:7YC2 Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed