Origin Enterprises Plc — Interim / Quarterly Report 2026

Mar 3, 2026

National Storage Mechanism | Additional information

RNS Number : 0127V

Origin Enterprises Plc

03 March 2026

Origin Enterprises plc

INTERIM RESULTS STATEMENT

Solid H1 performance; Group operating profit up 2.4%, driven by growth in Living Landscapes

3 March 2026: Origin Enterprises plc ('Origin' or 'the Group'), the international group shaping the future of sustainable land use solutions, today announces its interim results for the half-year ended 31 January 2026 ('H1 2026').

Results Summary	31 Jan 2026 €'m	31 Jan 2025 €'m	Change     €'m
Group revenue	852.6	831.7	20.9
Operating profit1	15.1	14.9	0.2
Associates and joint venture2	2.3	2.1	0.2
Total Group operating profit1	17.4	17.0	0.4
Finance cost, net	(11.3)	(10.0)	(1.3)
Profit before tax1	6.1	7.0	(0.9)
Adjusted diluted earnings per share (cent)3	4.55	5.17	(0.62)
Group net bank debt4	(283.5)	(270.1)	(13.4)
Interim dividend per ordinary share (cent)	3.15	3.15	-

Financial and Operational Highlights

·    Solid H1 Revenue growth of 5.1% constant currency, supported by underlying volume growth of 1.4%.

·    Total Group operating profit¹ of €17.4 million, an increase of 2.4% on the prior year.

·    Agriculture:

o H1 profit performance was broadly in line with prior year, with growth in Ireland/UK and Latin America (LATAM) offset by a reduction in Central Europe (CE).

o Planted areas in the UK are ahead of prior year and crop development is progressing well. A continued move towards winter planting is evident in CE, building on last year's growth, with crop development progressing well across both countries. An expanded soybean and corn area in LATAM is driving volume growth despite a challenging environment.

o Weaker grain, oilseed and dairy prices continue to dampen farm sentiment, influencing timing and commitment to spend.

·    Living Landscapes:

o Good H1 performance, with operating profit up 8.3%, driven by early season organic growth in the Sports and Landscapes businesses. Our Environmental business recorded a like-for like decline in H1 reflecting project timing delays; however, with the benefit of acquisitions, delivered year on year growth.

o Demand across Living Landscapes has had a robust start to the second half of the year.

·    Associates and joint ventures made a strong contribution to the first half, reflecting sustained demand for animal nutrition products in the Irish market.

·    Adjusted EPS of 4.55 cent (H1 2025: 5.17 cent) with H1 performance reflecting improved operating profit performance impacted by higher finance costs as a result of higher average debt. As in prior years, operating profit is second half weighted.

·    Net bank debt of €283.5 million (H1 2025: €270.1 million), reflects seasonal working capital requirements and inventory positioning in advance of the introduction of CBAM (Carbon Border Adjustment Mechanism) charges from 1 January 2026.

·    Extension of the Group's €440 million sustainability-linked revolving credit facility by one year to 31 January 2031.

·    Interim dividend has been maintained at 3.15 cent per share (H1 2025: 3.15 cent per share).

·    Mr. John Hennessy was appointed to the Board on 1 January 2026 and will succeed Mr. Gary Britton as Chairman on 04 March 2026.

·    Capital Markets Day to be held in London on 17 November 2026.

Commenting on Origin's interim results, Chief Executive Officer, Sean Coyle said:

"The Group delivered a solid first-half performance. Activity across both Agriculture and Living Landscapes was in line with expectations, establishing a strong operational base across our markets as we move into the more significant second half.

In Agriculture planting activity across our markets has set an encouraging platform for the remainder of the year, while on-farm sentiment remains cautious given output prices.

Our Animal and Soil Nutrition businesses had a strong performance, and our order books are well positioned for the second half. Despite the introduction of CBAM and broader geopolitical uncertainty, we have actively managed the factors within our control and continue to work closely with customers to ensure clarity on pricing, product availability and service delivery throughout the season.

In our Agronomy businesses well-established cropping areas across key markets provide a solid base for second half activity.

Living Landscapes had a good first half driven by Sports and Landscapes combined with acquisition-led growth in Environmental. The integration of recent acquisitions continues to progress well and provides a solid foundation for the second half of the year. We have an active pipeline of further acquisitions in this segment and remain excited about its performance and prospects.

Planting areas and crop conditions are good across our markets, and demand for animal and soil nutrition products has been solid. Consistent with prior years, significant levels of spring volumes are still to be delivered across all of our businesses and guidance for FY 2026 will be issued with our Q3 trading update on 11 June 2026.

We will host a Capital Markets Day in London on 17 November 2026, where we will set out our next five-year strategy, including our capital allocation framework and growth ambitions.

I am pleased to welcome John Hennessy to the Board and look forward to working with him as Chairman. I would like to thank Gary Britton for his considerable contribution to Origin as a Board member, particularly over the last three years in his role as Chairman."

ENDS

Conference Call and Webcast details:

The management team will host a live conference call and webcast, for analysts and institutional investors today, 3 March 2026, at 08:30 (Irish/UK time). Registration details for the Conference Call and Webcast can be accessed at: www.originenterprises.com

Alternatively, please contact FTI Consulting by email at [email protected]

Participants are requested to dial in 5 to 10 minutes prior to the scheduled start time.

1    Before amortisation of non-ERP intangible assets and exceptional items

2    Profit after interest and tax

3    Before amortisation of non-ERP intangible assets, net of related deferred tax (2026: €4.7 million, 2025: €4.7 million) and exceptional items, net of tax (2026: charge of €3.7 million, 2025: income of €10.5 million)

4    Net bank debt excludes IFRS16 Lease liabilities

INTERIM RESULTS STATEMENT

Financial Review - Summary

	6 months ended 31 Jan 2026 €'m	6 months ended 31 Jan 2025 €'m
Group revenue	852.6	831.7
Operating profit1	15.1	14.9
Associates and joint venture, net2	2.3	2.1
Adjusted Group operating profit1	17.4	17.0
Finance cost, net	(11.3)	(10.0)
Pre-tax profit	6.1	7.0
Income tax charge	(1.0)	(1.2)
Adjusted net profit	5.1	5.8
Adjusted diluted earnings per share (cent)3	4.55	5.17
Adjusted net profit reconciliation
Reported net (loss)/profit	(3.3)	11.7
Amortisation of non-ERP intangible assets	5.9	5.9
Tax on amortisation of non-ERP related intangible assets	(1.2)	(1.3)
Exceptional items, net of tax	3.7	(10.5)
Adjusted net profit	5.1	5.8

Adjusted diluted earnings per share

Origin delivered adjusted diluted earnings per share3 in H1 2026 of 4.55 cent compared to 5.17 cent in H1 2025. On a like-for-like basis (excluding the impact of currency movements and acquisitions) the underlying decrease in adjusted diluted earnings per share3 was 1.05 cent.

Group revenue

Group revenue for H1 2026 increased by 2.5% to €852.6 million (H1 2025: €831.7 million). On a constant currency basis, revenue increased by €42.4 million (5.1%).

Excluding crop marketing, revenue grew by 4.3% (€32.0 million), driven by underlying volume growth of 2.3% and a 1.0% contribution from prior year Living Landscapes acquisitions. A 3.0% foreign exchange headwind was more than offset by pricing movements of 4.0%, primarily reflecting higher price levels for global fertiliser raw materials.

Operating profit1

Operating profit¹ for H1 2026 was €15.1 million (H1 2025: €14.9 million), an increase of 1.3%. On an underlying basis, operating profit was 2.0% lower year-on-year. Foreign exchange movements had a marginal positive impact of 0.2% on reported operating profit.

Associates and joint venture2

Origin's share of profit after interest and taxation from associates and joint venture amounted to €2.3 million, a €0.2 million increase on H1 2025, reflecting strong demand for animal feed in H1. 

Exceptional items

€3.7 million exceptional costs (net of tax) in the period consist primarily of costs in respect of the facilitation of payments to suppliers which had been previously suspended in accordance with international sanctions in response to the Russian invasion of Ukraine in 2022.

Net bank debt and financing costs

Net bank debt5 at 31 January 2026 was €283.5 million compared to €270.1 million at 31 January 2025 and is 2.44 times EBITDA4 for the twelve months to 31 January 2026.

The increase in net bank debt, for the 12-month period ended 31 January 2026 is largely driven by an increase in working capital.

During the period, the Group exercised its option to extend its €440 million sustainability-linked revolving credit facility ('RCF') by one year to 31 January 2031. Subsequent to the period end, confirmation was received by each lender extending the RCF facility to 31 January 2031, with one further option remaining to extend by a further year.

Net finance costs amounted to €11.3 million compared to €10.0 million in H1 2025. The increase in net finance costs in the period was primarily driven by higher average net debt levels year on year. At period end, the Group's key banking covenants are as follows:

	Banking Covenant	H1 2026 Times	H1 2025 Times	FY 2025 Times
Net debt to EBITDA	Maximum 3.5	2.44	2.42	0.58
EBITDA to net interest	Minimum 3.0	6.37	6.64	7.21

Working capital

Following the seasonal investment in working capital in the period, the net cash outflow from operating activities was €200.7 million (H1 2025: €175.3 million). Working capital at 31 January 2026 amounted to €235.8 million compared to €200.8 million in the prior period. Investment in working capital in the period was largely driven by an increase in inventory in advance of the introduction of CBAM charges in January 2026, in addition to volume related increases in trading. The period end working capital position includes a €5.7 million balance due to sanctioned parties which had been previously suspended in accordance with international sanctions imposed by authorities in response to the Russian invasion of Ukraine in 2022.

Sustainability

The Group continues to align its product and service offering with evolving customer requirements and regulatory developments across its markets, delivering practical, technically-led solutions that support productivity, environmental performance and compliance.

During the period, integration of recent acquisitions further strengthened our environmental and ecology platform, extending our capabilities across habitat creation, biodiversity services and environmental advisory. Within Agriculture, innovation continues across biostimulants, adjuvants, micronutrients and soil nutrition, improving input efficiency and supporting sustainable land use. The Group remains focused on delivery of its Science Based Targets transition plan, supported by continued investment in fleet electrification, facility upgrades and enhanced data and reporting systems.

Interim dividend

We are pleased to announce that an interim dividend of 3.15 cent per share will be paid on 19 June 2026 to shareholders on the register on 29 May 2026. 

1    Before amortisation of non-ERP intangible assets and exceptional items

2    Profit after interest and tax

3    Before amortisation of non-ERP intangible assets, net of related deferred tax (2026: €4.7 million, 2025: €4.7 million) and exceptional items, net of tax (2026: charge of €3.7 million, 2025: income of €10.5 million)

4    Net debt/EBITDA ratio as per the requirements of the Group's syndicated bank loan agreement

5    Net bank debt excludes IFRS16 Lease liabilities

Review of Operations

Group Overview

					Change on prior period
	H1 2026     €'m		H1 2025     €'m			Change       €'m			Underlying4 €'m	Constant Currency5    €'m
Revenue
Agriculture	766.5		756.5			10.0			28.2	28.2
Living Landscapes	86.1		75.2			10.9			6.8	14.2
Group	852.6		831.7			20.9			35.0	42.4
Operating profit1
Agriculture	11.0		11.1			(0.1)			(0.3)	(0.3)
Living Landscapes	4.1		3.8			0.3			-	0.5
Group	15.1		14.9			0.2			(0.3)	0.2
Associates and joint venture2	2.3		2.1			0.2			0.3	0.3
Adjusted diluted EPS (cent)3	4.55		5.17			(0.62)			(1.05)	(0.74)
1    Before amortisation of non-ERP intangible assets and exceptional items
2    Profit after interest and tax
3    Before amortisation of non-ERP intangible assets, net of related deferred tax (2026: €4.7 million, 2025: €4.7 million) and exceptional items, net of tax (2026: charge of €3.7 million, 2025: income of €10.5 million)
4    Excluding currency movements and the impact of acquisitions
5    Excluding currency movements

Agriculture:

Ireland and the United Kingdom

				Change on prior period
	H1 2026     €'m		H1 2025      €'m		Change       €'m		Underlying3 €'m	Constant Currency4    €'m
Revenue	438.0		430.5		7.5		23.1	23.1
Operating (loss)1	(0.9)		(1.2)		0.3		0.1	0.1
Associates and joint venture2	2.3		2.1		0.2		0.3	0.3
1    Before amortisation of non-ERP intangible assets and exceptional items
2    Profit after interest and tax
3    Excluding currency movements and the impact of acquisitions
4    Excluding currency movements

Ireland and the United Kingdom delivered revenue growth of €7.5 million in the period. The operating loss reduced from €1.2 million in H1 2025 to €0.9 million in the current year. As in prior years, earnings are weighted towards the second half of the financial year.

Trading was supported by strong demand for fertiliser ahead of the spring application season, with growers advancing purchases in anticipation of price movements, alongside a recovery in UK winter cropping areas and sustained demand for animal nutrition through Q2, supporting both volume and pricing progression.

However, in the UK, there has been a cautious approach to pre-season purchases of seed and crop protection, due to the ongoing impact of soft crop prices on grower sentiment.

Sustainable Agronomy

Agronomy revenue increased by 1.6% during H1 2026, driven by fertiliser demand and global pricing. Improved planting conditions and an earlier harvest supported autumn drilling, resulting in winter wheat area rising approximately 4% year-on-year to c.1.7 million hectares and oilseed rape increasing to c.0.25 million hectares (c.19% year-on-year growth). Crop establishment across key cereal regions has been reported as satisfactory.

Growers selectively brought forward some of their fertiliser purchases in anticipation of price movements, while input commitments across seed and crop protection remained disciplined. Lower output price levels and tighter farm margins continue to influence sentiment within the arable sector, with farmers maintaining prudent working capital management.

Total autumn and spring plantings for the 2025/26 production year are expected to be largely in line with prior year at just over 4 million hectares.

Soil Nutrition

Soil Nutrition delivered a good first-half performance, supported by globally firmer fertiliser pricing and pre-season demand across Ireland and the UK.

Fertiliser markets strengthened through the period, reflecting tighter global nitrogen supply and the phased introduction of the EU Carbon Border Adjustment Mechanism ("CBAM"), which applies a carbon cost to certain fertiliser imports into the EU to align them with EU carbon pricing. This has contributed to greater price differentiation between EU and non-EU product, contributing to increased pricing across the market.

In Ireland, improved visibility on CBAM implementation and pricing trends led to increased order intake ahead of the main spring application window. Market dynamics continue to reflect grassland-led demand and evolving regulatory measures.

In the UK, purchasing behaviour remained more progressive through the winter, with selective forward buying ahead of price movements. Consistent with our agronomy operations, lower crop prices and margin considerations continue to influence purchasing behaviour.

Across both markets, the Group enters the second half with a strong short term order book and appropriate inventory positioning to meet expected customer demand.

Animal Nutrition

Feed Ingredients delivered a good H1 2026 performance and growth against a strong H1 2025 performance. John Thompson & Sons Limited, the Group's 50%-owned associate, also delivered a good performance. Feed demand remained strong over H1 supported by resilient protein prices, although milk prices have reduced in recent months.  

Continental Europe1

				Change on prior period
	H1 2026     €'m	H1 2025     €'m			Change       €'m		Underlying3 €'m	Constant Currency4    €'m
Revenue	233.8	236.0			(2.1)		(1.0)	(1.0)
Revenue1 (excl. crop marketing)	160.3	151.4			8.9		10.8	10.8
Operating profit2	0.6	1.5			(0.9)		(1.0)	(1.0)
Operating profit1,2 (excl. crop marketing)	0.6	1.2			(0.6)		(0.7)	(0.7)
1    Excluding crop marketing.  While crop marketing has a significant impact on revenue, its impact on operating profit is insignificant.  An analysis of revenue and profit attributable to agronomy services and inputs more accurately reflects the underlying drivers of business performance
2    Before amortisation of non-ERP intangible assets and exceptional items
3    Excluding currency movements and the impact of acquisitions
4    Excluding currency movements

Continental Europe delivered a solid start to the year, with revenue growth of 5.9% in the first half, primarily reflecting volume growth and price inflation in Romania, reflecting global fertiliser prices. Operating profit reduced to €0.6 million for CE in the seasonally quieter period, reflecting lower volumes in Poland, an underlying improved operating performance in Romania and the impact of provision for credit risk in Romania.

Underlying volumes (excluding crop marketing) increased by 1.8% across the region, supported by stable cropping areas and satisfactory winter crop establishment. Soil moisture levels have improved entering the spring period, providing a more supportive agronomic backdrop following recent volatility in seasonal conditions.

Poland

Poland made a robust start against a strong prior-year comparator. Lower volumes in certain categories reflected competitive market dynamics and more measured farmer purchasing, particularly in fertiliser, with procurement activity weighted toward later in the season. Trading momentum improved toward period end, with stronger run-rates and a healthy order position heading into the seasonally more significant Q3.

Autumn and winter plantings are broadly in line with the prior year harvested area at approximately 5.3 million hectares, with winter crops generally well established and total cropping area for 2026 anticipated to remain broadly consistent with last year at approximately 8.8 million hectares.

Romania

Romania delivered an improved first-half performance, supported by growth across product categories and a continued rotation toward winter cropping (+4.4% YoY; +21% vs 2024), as growers seek to mitigate spring drought risk following recent dry seasons. Total cropping is expected to remain broadly stable at 8.2m hectares.  Farm sentiment remains cautious but is gradually improving as soil moisture conditions have stabilised over winter, supporting crops into the spring, while confidence continues to be tempered by the impact of recent droughts on farm cash flow and continuing credit challenges in the market.

Latin America

						Change on prior period
			H1 2026     €'m		H1 2025      €'m		Change       €'m		Underlying2 €'m			Constant Currency3    €'m
Revenue		94.8		90.1		4.7				6.1	6.1
Operating profit1		11.3		10.8		0.5				0.8	0.8
1    Before amortisation of non-ERP intangible assets and exceptional items 2    Excluding currency movements and the impact of acquisitions 3    Excluding currency movements

Latin America delivered a solid underlying performance with volumes up 3.1%, driven by continued growth in Controlled Release Fertiliser (CRF) and biological products offset partially by lower volumes in some speciality product categories. Operating profit increased 5% to €11.3 million, with volume growth and cost management being partially offset by the negative mix impact from the higher weighting of lower-margin CRF sales.

Brazil's cropping fundamentals remain supportive, with soybean planted area projected at approximately 49 million hectares (up 3.8% year-on-year) and production forecast at 181 million tonnes. Safrinha (second crop) corn plantings are underway with total planting areas expected to be in line with prior year. While expanded planting underpins demand for crop inputs, a cautious approach to credit sales is being proactively adopted given market challenges.  Lower output pricing has resulted in more disciplined purchasing and market pricing.

Currency movements in the Brazilian Real had a modest translational impact on reported euro results with underlying performance in local currency remaining robust.

Living Landscapes:

						Change on prior period
			H1 2026     €'m		H1 2025      €'m		Change       €'m		Underlying2 €'m			Constant Currency3    €'m
Revenue		86.1		75.2		10.9				6.8	14.2
Operating profit1		4.1		3.8		0.3				-	0.5
1    Before amortisation of non-ERP intangible assets and exceptional items 2    Excluding currency movements and the impact of acquisitions 3    Excluding currency movements

Living Landscapes delivered a good first-half performance, with operating profit increasing 8.3% to €4.1 million. Growth reflected strong contributions from Sports and Landscapes, with Environmental like for like performance behind last year due to the timing of projects but showing growth with the inclusion of acquisitions.

Sports had a good performance in the period which benefited from sustained demand for performance-led and technical solutions, driven by a focus on surface recovery post the impact of last summer's drought and a push to ensure year-round playability across professional and municipal facilities.

Landscapes also had a good performance, supported by expanded product capability following recent acquisitions and ongoing investment in green infrastructure.

Environmental activity was robust in the period supported by compliance-driven demand, including Biodiversity Net Gain. The timing of contract awards and mobilisation impacted like for like profitability in the first-half, with earnings expected to be weighted toward the second half. Jon Garner succeeded Mark Webb in the period as Managing Director of Environmental. Jon has been a key part of the Environmental team following the acquisition of GE Consulting in 2024 of which he was the founder and Director.

ENDS

Enquiries

Origin Enterprises plc
Colm Purcell
Chief Financial Officer	Tel:	+353 (0)1 563 4900
Brendan Corcoran
Head of Investor Relations	Tel:	+353 (0)1 563 4900
Goodbody (Euronext Growth (Dublin) Adviser)
Jason Molins	Tel:	+353 (0)1 641 9278
Davy (Nominated Adviser)
Anthony Farrell	Tel:	+353 (0)1 614 9993
Berenberg (Corporate Broker)
Clayton Bush	Tel:	+44 (0)20 3207 7800
FTI Consulting (Financial Communications Advisers)
Jonathan Neilan / Patrick Berkery / Conor Pierce	Tel:	+353 (0)86 602 5988

About Origin Enterprises plc

Origin Enterprises plc champions sustainable land use through technically-led solutions, empowering our customers to enrich their land so it can achieve its true potential. The Group has leading market positions in Ireland, the United Kingdom, Brazil, Poland and Romania, and is listed on the Euronext Growth Dublin market and the AIM market of the London Stock Exchange.

Euronext Growth (Dublin) ticker symbol:          OIZ

AIM ticker symbol:                                            OGN

Website:                                                            www.originenterprises.com

Origin Enterprises plc

Condensed Interim Consolidated Income Statement     

for the six months ended 31 January 2026

		Six months		Six months		Six months		Six months		Year
		ended		ended		ended		ended		ended
		January		January		January		January		July
		2026		2026		2026		2025		2025
		Pre-exceptional		Exceptional		Total		Total		Total
		€'000		€'000		€'000		€'000		€'000
	Notes			Note 6				Note 8		Note 8
Revenue	5	852,610		-		852,610		831,676		2,109,146
Cost of sales		(709,163)		-		(709,163)		(689,546)		(1,750,806)
Gross profit		143,447		-		143,447		142,130		358,340
Operating costs		(134,275)		(3,880)		(138,155)		(128,983)		(288,241)
Share of profit of associates and joint venture		2,328		-		2,328		9,138		16,541
Operating profit	5	11,500		(3,880)		7,620		22,285		86,640
Finance income		2,403		-		2,403		4,888		4,991
Finance expense		(13,748)		-		(13,748)		(14,911)		(24,951)
(Loss)/Profit before income tax		155		(3,880)		(3,725)		12,262		66,680
Income tax credit/(expense)		297		169		466		(607)		(13,927)
(Loss)/Profit attributable to equity shareholders		452		(3,711)		(3,259)		11,655		52,753
						Six months		Six months		Year
						ended		ended		ended
						January		January		July
						2026		2025		2025
Basic (loss)/earnings per share	7					(3.04c)		10.98c		49.59c
Diluted (loss)/earnings per share	7					(3.04c)		10.42c		47.20c

Origin Enterprises plc

Condensed Interim Consolidated Statement of Comprehensive Income

for the six months ended 31 January 2026

	Six months		Six months		Year
	ended		ended		ended
	January		January		July
	2026		2025		2025
	€'000		€'000		€'000
(Loss)/profit for the financial period	(3,259)		11,655		52,753
Other comprehensive income/(expense)
Items that are not reclassified subsequently to the Group income statement:
Group/Associate defined benefit pension obligations
- remeasurements of Group's defined benefit pension schemes	(111)		(948)		(18)
- deferred tax effect of remeasurements	50		225		(36)
- share of remeasurements on associate's defined benefit pension schemes	-		-		(290)
- share of deferred tax effect of remeasurements - associates	-		-		72
Items that may be reclassified subsequently to the Group income statement:
Group foreign exchange translation details
- exchange difference on translation of foreign operations	2,518		2,261		(13,430)
Group/Associate cash flow hedges
- effective portion of changes in fair value of cash flow hedges	(1,205)		(1,132)		(4,426)
- fair value of cash flow hedges transferred to operating costs	(1,354)		1,785		2,447
- deferred tax effect of cash flow hedges	543		(295)		19
- share of associates and joint venture cash flow hedges	(280)		2,592		(742)
- deferred tax effect of share of associates and joint venture cash flow hedges	35		(324)		93
Other comprehensive income/(expense) for the period, net of tax	196		4,164		(16,311)
Total comprehensive (expense)/income for the period attributable to equity shareholders	(3,063)		15,819		36,442

Origin Enterprises plc

Condensed Interim Consolidated Statement of Financial Position

as at 31 January 2026

			January		January		July
			2026		2025		2025
	Notes		€'000		€'000		€'000
ASSETS
Non-current assets
Property, plant and equipment	9		142,431		135,523		134,499
Right of use asset			64,266		63,541		68,020
Investment properties			8,500		8,500		8,500
Goodwill and intangible assets	10		315,286		322,026		318,638
Investments in associates and joint venture	11		38,963		43,916		47,312
Other financial assets			888		921		892
Derivative financial instruments			54		1,850		314
Deferred tax assets			6,757		3,557		6,203
Post employment benefit surplus			6,816		5,900		6,805
Total non-current assets			583,961		585,734		591,183
Current assets
Properties held for sale			-		5,800		5,800
Inventory			316,396		296,475		228,854
Trade and other receivables			429,518		365,438		469,450
Derivative financial instruments			338		1,592		2,109
Cash and cash equivalents	13		62,771		62,583		169,778
Total current assets			809,023		731,888		875,991
TOTAL ASSETS			1,392,984		1,317,622		1,467,174

Origin Enterprises plc

Condensed Interim Consolidated Statement of Financial Position (continued)

as at 31 January 2026

			January		January		July
			2026		2025		2025
	Notes		€'000		€'000		€'000
EQUITY
Called up share capital presented as equity	14		1,197		1,253		1,197
Share premium			160,526		160,526		160,526
Retained earnings and other reserves			244,212		243,599		262,531
TOTAL EQUITY			405,935		405,378		424,254
LIABILITIES
Non-current liabilities
Interest-bearing borrowings	13		336,245		328,179		240,551
Lease liability	13		52,851		51,302		56,040
Deferred tax liabilities			21,817		18,496		22,961
Provision for liabilities	12		16,568		13,908		10,767
Put option liability			2,587		-		4,522
Derivative financial instruments			762		758		817
Total non-current liabilities			430,830		412,643		335,658
Current liabilities
Interest-bearing borrowings	13		10,058		4,489		70
Lease liability	13		11,991		14,197		12,257
Trade and other payables			510,079		461,067		674,702
Corporation tax payable			2,264		2,552		10,323
Provision for liabilities	12		2,837		2,588		9,282
Put option liability			2,048		-		416
Dividend payable to shareholders	15		15,176		14,476		-
Derivative financial instruments			1,766		232		212
Total current liabilities			556,219		499,601		707,262
TOTAL LIABILITIES			987,049		912,244		1,042,920
TOTAL EQUITY AND LIABILITIES			1,392,984		1,317,622		1,467,174

Origin Enterprises plc

Condensed Interim Consolidated Statement of Changes in Equity

for the six months ended 31 January 2026

													Share-				Foreign
							Capital		Cashflow				based				currency
	Share		Share		Treasury		redemption		hedge		Revaluation		payment		Re-organisation		translation		Retained
	capital		premium		shares		reserve		reserve		reserve		reserve		reserve		reserve		earnings		Total
	€'000		€'000		€'000		€'000		€'000		€'000		€'000		€'000		€'000		€'000		€'000
At 1 August 2025	1,197		160,526		(46,966)		201		(2,714)		12,843		8,470		(196,884)		(70,847)		558,428		424,254
Loss for the period	-		-		-		-		-		-		-		-		-		(3,259)		(3,259)
Other comprehensive (expense)/income for the period	-		-		-		-		(2,261)		-		-		-		2,518		(61)		196
Re-issue of treasury shares	-		-		2,002		-		-		-		-		-		-		(1,994)		8
Change in fair value of put option	-		-		-		-		-		-		-		-		-		(88)		(88)
Transfer of share-based payment reserve to retained earnings	-		-		-		-		-		-		(1,354)		-		-		1,354		-
Dividend payable to shareholders (Note 15)	-		-		-		-		-		-		-		-		-		(15,176)		(15,176)
At 31 January 2026	1,197		160,526		(44,964)		201		(4,975)		12,843		7,116		(196,884)		(68,329)		539,204		405,935

Origin Enterprises plc

Condensed Interim Consolidated Statement of Changes in Equity

for the six months ended 31 January 2025

													Share-				Foreign
							Capital		Cashflow				based				currency
	Share		Share		Treasury		redemption		hedge		Revaluation		payment		Re-organisation		translation		Retained
	capital		premium		shares		reserve		reserve		reserve		reserve		reserve		reserve		earnings		Total
	€'000		€'000		€'000		€'000		€'000		€'000		€'000		€'000		€'000		€'000		€'000
At 1 August 2024	1,253		160,526		(67,569)		145		(105)		12,843		7,602		(196,884)		(57,417)		544,536		404,930
Profit for the period	-		-		-		-		-		-		-		-		-		11,655		11,655
Other comprehensive income/(expense) for the period	-		-		-		-		2,626		-		-		-		2,261		(723)		4,164
Share buyback	-		-		(1,850)		-		-		-		-		-		-		-		(1,850)
Re-issue of treasury shares	-		-		955		-		-		-		-		-		-		-		955
Transfer of share-based payment reserve to retained earnings	-		-		-		-		-		-		(664)		-		-		664		-
Dividend payable to shareholders	-		-		-		-		-		-		-		-		-		(14,476)		(14,476)
At 31 January 2025	1,253		160,526		(68,464)		145		2,521		12,843		6,938		(196,884)		(55,156)		541,656		405,378

Origin Enterprises plc

Condensed Interim Consolidated Statement of Cash Flows

for the six months ended 31 January 2026

		Six months		Six months		Year
		ended		ended		ended
		January 2026		January 2025		July 2025
		€'000		€'000		€'000
Cash flows from operating activities
(Loss)/profit before tax		(3,725)		12,262		66,680
Exceptional items		3,880		(11,232)		(404)
Finance income		(2,403)		(4,888)		(4,991)
Finance expense		13,748		14,911		24,951
Profit on disposal of property, plant and equipment		(135)		(154)		(856)
Share of profit of associates and joint venture		(2,328)		(2,118)		(9,048)
Depreciation of property, plant and equipment		5,370		4,760		10,624
Depreciation of right of use assets		8,233		7,998		16,316
Amortisation of intangible assets		7,692		7,277		16,133
Employee share-based payment charge		-		-		2,564
Pension contributions in excess of service and administration costs		30		43		115
Payment of exceptional Ukraine related costs		(467)		(764)		(1,261)
Payment of exceptional acquisition and disposal related costs		(610)		(1,254)		(3,096)
Operating cash flow before changes in working capital		29,285		26,841		117,727
Increase in inventory		(87,381)		(67,125)		(3,680)
Decrease in trade and other receivables		41,573		113,386		2,766
Decrease in trade and other payables		(168,782)		(235,572)		(16,861)
Cash (absorbed)/generated from operating activities		(185,305)		(162,470)		99,952
Interest paid		(6,817)		(8,171)		(15,985)
Income tax paid		(8,540)		(4,706)		(11,946)
Cash (outflow)/inflow from operating activities		(200,662)		(175,347)		72,021

Origin Enterprises plc

Condensed Interim Consolidated Statement of Cash Flows (continued)

for the six months ended 31 January 2026

		Six months		Six months		Year
		ended		ended		ended
		January 2026		January 2025		July  2025
		€'000		€'000		€'000
Cash flows from investing activities
Proceeds from sale of property, plant and equipment		1,981		768		2,802
Purchase of property, plant and equipment		(9,371)		(7,678)		(16,148)
Additions to intangible assets		(4,110)		(6,207)		(13,349)
Consideration relating to acquisition		-		(8,581)		(15,666)
Payment of contingent acquisition consideration		(437)		(1,463)		(1,712)
Investment in associates		-		(388)		(386)
Payment of put option liability		(390)		-		-
Dividends received from associates		10,310		12,549		12,642
Cash outflow from investing activities		(2,017)		(11,000)		(31,817)
Cash flows from financing activities
Drawdown of bank loans		154,788		171,327		232,485
Repayment of bank loans		(59,437)		(40,383)		(186,647)
Lease liability payments		(9,374)		(9,148)		(18,041)
Share buyback		-		(1,850)		(1,850)
Proceeds from re-issue of treasury shares		8		-		-
Payment of dividends to equity shareholders		-		-		(17,832)
Cash inflow from financing activities		85,985		119,946		8,115
Net (decrease) / increase in cash and cash equivalents		(116,694)		(66,401)		48,319
Translation adjustment		(301)		(44)		(3,150)
Cash and cash equivalents at start of period		169,708		124,539		124,539
Cash and cash equivalents at end of period (Note 13)		52,713		58,094		169,708

Origin Enterprises plc

Notes to the Condensed Interim Consolidated Financial Statements

for the six months ended 31 January 2026

1      Basis of preparation

The Group condensed interim consolidated financial statements have been prepared in accordance with International Accounting Standard 34, Interim Financial Reporting (IAS 34), as endorsed by the EU. The condensed interim consolidated financial statements have been prepared as information for the shareholders and do not include all the information and disclosures required in the annual financial statements. They should be read in conjunction with the Group's annual financial statements in respect of the year ended 31 July 2025, which have been prepared in accordance with IFRSs. The financial statements for the year ended 31 July 2025 are available on the company's website www.originenterprises.com. Those financial statements contained an unqualified audit report.

The Group condensed interim consolidated financial statements for the six months ended 31 January 2026 and the comparative figures for the six months ended 31 January 2025 are unaudited and have not been reviewed by the Auditors. The summary financial statements for the year ended 31 July 2025 represent an abbreviated version of the Group's full accounts for that year.

A comprehensive review of the Group's performance for the six months ended 31 January 2026 is included in the financial highlights included on pages 3 to 10. The group's business is seasonal and is heavily weighted towards the second half of the financial year.

2      Going concern

The Group condensed interim financial statements have been prepared on the going concern basis of accounting. The Directors have considered the Group's business activities and how it generates value, together with the main trends and factors likely to affect future development, business performance and position of the Group. Having reassessed the principal risks facing the Group, the Directors believe that the Group is well placed to manage these risks successfully. There are no material uncertainties that cast a significant doubt on the Group's ability to continue as a going concern over a period of at least 12 months from the date of these financial statements.

The Directors report that they have satisfied themselves that the Group is a going concern, having adequate resources to continue in operational existence for the foreseeable future. In forming this view, the Directors have reviewed the Group's forecast for a period not less than 12 months and the long-term plans, and have taken into account the cash flow implications, including capital expenditure, and compared these with the Group's borrowing facilities.

3      Accounting policies

The Group condensed interim consolidated financial statements have been prepared on the basis of the accounting policies as set out on pages 141 to 148 of the Group's Annual Report for the year ended 31 July 2025.

There is a new standard which is also effective from 1 August 2025. The following amendments, issued by the International Accounting Standards Board ('IASB') and the International Financial Reporting Interpretations Committee ('IFRIC'), are effective for the Group for the first time in the current financial period and where relevant have been adopted by the Group:

·    Amendments to IAS 21 'The Effects of Changes in Foreign Exchange Rates': Lack of Exchangeability

The amendments listed above have had no material impact on the Group condensed interim consolidated financial statements during the period. The Group has not applied early adoption of any standards for which the effective date is not yet required.

Origin Enterprises plc

Notes to the Condensed Interim Consolidated Financial Statements (continued)

for the six months ended 31 January 2026

4      Reporting currency

The Group condensed interim consolidated financial statements are presented in euro (denoted by the symbol '€') and rounded to the nearest thousand, which is the functional currency of the parent. Transactions in foreign currencies are translated at the foreign exchange rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the period end date are translated to functional currency at the foreign exchange rate ruling at that date. Foreign exchange differences arising on translation are recognised in the Consolidated Income Statement.

The principal exchange rates used for translation of results and balance sheets into euro were as follows:

	Average foreign exchange rate				Closing foreign exchange rate
	Six months	Six months			Six months	Six months
	ended	ended	Year ended		ended	ended	Year ended
	Jan 2026	Jan 2025	July 2025		Jan 2026	Jan 2025	July 2025
	EUR €1=	EUR €1=	EUR €1=		EUR €1=	EUR €1=	EUR €1=
Brazilian Real	6.29307	6.19855	6.26395		6.19540	6.11132	6.38668
British Pound Sterling	0.87117	0.83760	0.84219		0.86700	0.83670	0.86310
Polish Zloty	4.23656	4.28503	4.25691		4.21230	4.21050	4.26960
Romanian Leu	5.07993	4.97344	4.99545		5.09940	4.97860	5.07800

5      Segment information

IFRS 8, 'Operating Segments', requires operating segments to be identified on the basis of internal reports that are regularly reviewed by the Chief Operating Decision Maker ('CODM') in order to allocate resources to the segments and to assess their performance.

The Group has determined there are two operating segments as follows:

Agriculture

This segment includes the Group's wholly owned Business-to-Business Agri-Inputs operations, Integrated Agronomy and On-Farm Services operations in Ireland, the United Kingdom, Poland, Romania, and Brazil. In addition, this segment includes the Group's associate and joint venture undertakings.

Living Landscapes

This segment includes the Group's wholly owned Sports, Landscapes and Environmental operations, providing a range of consultancy, inputs and technical solutions in sports turf management, landscaping, and environmental conservation.

Information regarding the results of each reportable segment is included below. Performance is measured based on segment operating profit as included in the internal management reports that are reviewed by the Group's CODM, being the Origin Executive Directors. Segment operating profit is used to measure performance, as this information is the most relevant in evaluating the results of the Group's segments.

Origin Enterprises plc

Notes to the Condensed Interim Consolidated Financial Statements (continued)

for the six months ended 31 January 2026

5      Segment information (continued)

(i)     Segment revenue and results

		Agriculture					Living Landscapes				Total Group
		Jan 2026		Jan 2025		Jan 2026			Jan 2025			Jan 2026		Jan 2025
		€'000		€'000		€'000			€'000			€'000		€'000
Revenue
Ireland & UK		437,958		430,502		86,099			75,152			524,057		505,654
Continental Europe		233,797		235,953		-			-			233,797		235,953
Latin America		94,755		90,069		-			-			94,755		90,069
Total		766,510		756,524		86,099			75,152			852,609		831,676
Segment Result
Ireland & UK		(897)		(1,235)		4,094			3,779			3,197		2,544
Continental Europe		571		1,563		-			-			571		1,563
Latin America		11,331		10,798		-			-			11,331		10,798
Total		11,005		11,126		4,094			3,779			15,099		14,905
Profit from associate & joint venture		2,328		2,118		-			-			2,328		2,118
Amortisation of non-ERP intangible assets		(4,097)		(4,611)		(1,830)			(1,359)			(5,927)		(5,970)
Operating profit before exceptional items		9,236		8,633		2,264			2,420			11,500		11,053
Exceptional items		(3,643)		12,440		(237)			(1,208)			(3,880)		11,232
Operating profit		5,593		21,073		2,027			1,212			7,620		22,285

(ii)     Segment earnings before financing costs and tax is reconciled to reported profit before tax and profit after tax as follows:

Operating profit	7,620		22,285
Finance income	2,403		4,888
Finance expense	(13,748)		(14,911)
Reported (loss)/profit before tax	(3,725)		12,262
Income tax credit/(expense)	466		(607)
Reported (loss)/profit after tax	(3,259)		11,655

Origin Enterprises plc

Notes to the Condensed Interim Consolidated Financial Statements (continued)

for the six months ended 31 January 2026

5      Segment information (continued)

(iii) Segment assets

		Agriculture				Living Landscapes				Total Group
		Jan 2026		Jan 2025		Jan 2026		Jan 2025		Jan 2026		Jan 2025
		€'000		€'000		€'000		€'000		€'000		€'000
Assets excluding investment in associates & joint venture		1,107,398		1,037,327		175,815		166,797		1,283,213		1,204,124
Investments in associates & joint venture (including other financial assets)		39,476		43,528		375		388		39,851		43,916
Segment assets		1,146,874		1,080,855		176,190		167,185		1,323,064		1,248,040

Reconciliation to total assets as reported in Consolidated Statement of Financial Position

Cash & cash equivalents		62,771		62,583
Derivative financial instruments		392		3,442
Deferred tax assets		6,757		3,557
Total assets as reported in Consolidated Statement of Financial Position		1,392,984		1,317,622

(iv)    Segment liabilities

		Agriculture				Living Landscapes				Total Group
		Jan 2026		Jan 2025		Jan 2026		Jan 2025		Jan 2026		Jan 2025
		€'000		€'000		€'000		€'000		€'000		€'000
Segment liabilities		542,989		485,722		55,972		57,340		598,961		543,062

Reconciliation to total liabilities as reported in Consolidated Statement of Financial Position

Interest-bearing loans and borrowings	346,303		332,668
Derivative financial instruments	2,528		990
Dividend payable to shareholders	15,176		14,476
Current and deferred tax liabilities	24,081		21,048
Total liabilities as reported in Consolidated Statement of Financial Position	987,049		912,244

Origin Enterprises plc

Notes to the Condensed Interim Consolidated Financial Statements (continued)

for the six months ended 31 January 2026

6        Exceptional items

Exceptional items are those that, in management's judgement, should be separately presented and disclosed by virtue of their nature or amount.  Such items are included within the consolidated income statement caption to which they relate.  The following exceptional items arose during the year:

	Six months		Six months
	ended		ended
	January		January
	2026		2025
	€'000		€'000
Ukraine related costs (i)	(3,271)		(764)
Acquisition, disposal and other related costs (ii)	(609)		(1,254)
Fair value movement on investment properties (iii)	-		6,230
Exceptional (costs)/credit before tax and before associates and joint ventures	(3,880)		4,212
Tax credit/(charge) on exceptional items	169		(683)
Exceptional (costs)/credit before associates and joint ventures	(3,711)		3,529
Arising in associates and joint ventures, net of tax (iv)	-		7,020
Total exceptional (costs)/credit after tax	(3,711)		10,549

(i)      Ukraine related costs

Ukraine related costs comprise of costs associated with international sanctions imposed by authorities in response to the Russian invasion of Ukraine. The tax impact of this exceptional item in the period was a tax credit of €0.1 million.

(ii)     Acquisition, disposal and other related costs

Acquisition, disposal and other related costs principally comprised of transaction costs incurred in relation to the acquisitions completed during the current period. Also included is redundancy and restructuring costs related to termination payments during the period. The tax impact of this exceptional item in the period was a tax credit of €0.1 million.

(iii)    Fair value movement on investment properties

Fair value movement on investment properties in the prior year related principally to an uplift in the carrying value of development land arising from a third party valuation. The tax impact of this exceptional item in the prior period was a charge of €0.8 million.

(iv)    Arising in associates and joint venture, net of tax

In the prior year, associates and joint venture recognised an exceptional credit primarily related to the disposal of assets held under long leases of €8.3 million and related restructuring costs incurred.

Origin Enterprises plc

Notes to the Condensed Interim Consolidated Financial Statements (continued)

for the six months ended 31 January 2026

7     Earnings per share

Basic earnings per share

	Six months		Six months
	ended		ended
	January		January
	2026		2025
	€'000		€'000
(Loss)/Profit for the financial period attributable to equity shareholders	(3,259)		11,655
	'000		'000
Weighted average number of ordinary shares for the period	107,065		106,146
	Cent		Cent
Basic (loss)/earnings per share	(3.04)		10.98

Diluted earnings per share
	Six months		Six months
	ended		ended
	January		January
	2026		2025
	€'000		€'000
(Loss)/Profit for the financial period attributable to equity shareholders	(3,259)		11,655
	'000		'000
Weighted average number of ordinary shares used in basic calculation	107,065		106,146
Potential impact of shares with dilutive effect	4,498		4,912
Potential impact of SAYE scheme with dilutive effect	1,623		832
Weighted average number of ordinary shares (diluted) for the period	113,186		111,890
	Cent		Cent
Diluted (loss)/earnings per share	(3.04)		10.42

The effects of potential ordinary shares for the six months ended January 2026 are not reflected in the calculation of the diluted loss per share as the impact of these is anti-dilutive.

Origin Enterprises plc

Notes to the Condensed Interim Consolidated Financial Statements (continued)

for the six months ended 31 January 2026

7      Earnings per share (continued)

Adjusted basic earnings per share
		Six months		Six months
		ended		ended
		January		January
		2026		2025
		€'000		€'000
(Loss)/Profit for the financial period attributable to equity shareholders		(3,259)		11,655
Amortisation of non-ERP related intangible assets		5,927		5,970
Tax on amortisation of non-ERP related intangible assets		(1,234)		(1,297)
Exceptional items, net of tax		3,711		(10,549)
Adjusted basic profit		5,145		5,779
		Cent		Cent
Adjusted basic earnings per share		4.81		5.44
		€'000		€'000
Total adjusted basic earnings - as above		5,145		5,779
		Cent		Cent
Total adjusted diluted earnings per share		4.55		5.17

The calculation of basic adjusted earnings per share is based on the weighted average number of shares in issue during the period of 107,064,864 (31 January 2025: 106,145,870). The weighted average number of shares used in the calculation of adjusted diluted earnings per share is 113,185,676 (31 January 2025: 111,890,288).

Origin Enterprises plc

Notes to the Condensed Interim Consolidated Financial Statements (continued)

for the six months ended 31 January 2026

8      Condensed Interim Consolidated Income Statements for the six months ended 31 January 2025 and year ended 31 July 2025

An analysis of the Condensed Interim Consolidated Income Statement (including exceptional items) for the six months ended 31 January 2025 and year ended 31 July 2025 is set out below.

	Six months ended 31 January 2025
			Six months		Six months		Six months
			ended		ended		ended
			Jan 2025		Jan 2025		Jan 2025
			Pre-Exceptional		Exceptional		Total
			€'000		€'000		€'000
	Revenue		831,676		-		831,676
	Cost of sales		(689,546)		-		(689,546)
	Gross profit		142,130		-		142,130
	Operating costs		(133,195)		4,212		(128,983)
	Share of profit of associates and joint venture		2,118		7,020		9,138
	Operating profit		11,053		11,232		22,285
	Finance income		4,888		-		4,888
	Finance expense		(14,911)		-		(14,911)
	Profit before income tax		1,030		11,232		12,262
	Income tax credit/(expense)		76		(683)		(607)
	Profit attributable to equity shareholders		1,106		10,549		11,655
	Year ended 31 July 2025
			Year ended		Year ended		Year ended
			July 2025		July 2025		July 2025
			Pre-Exceptional		Exceptional		Total
			€'000		€'000		€'000
	Revenue		2,109,146		-		2,109,146
	Cost of sales		(1,750,806)		-		(1,750,806)
	Gross profit		358,340		-		358,340
	Operating costs		(281,152)		(7,089)		(288,241)
	Share of profit of associates and joint venture		9,048		7,493		16,541
	Operating profit		86,236		404		86,640
	Finance income		4,991		-		4,991
	Finance expense		(24,951)		-		(24,951)
	Profit before income tax		66,276		404		66,680
	Income tax (expense)/credit		(15,630)		1,703		(13,927)
	Profit for the year		50,646		2,107		52,753

Origin Enterprises plc

Notes to the Condensed Interim Consolidated Financial Statements (continued)

for the six months ended 31 January 2026

9      Property, plant and equipment

	January		July
	2026		2025
	€'000		€'000
Net book value
At beginning of period	134,499		132,665
Arising on acquisition	-		563
Additions	9,138		15,927
Reclassification of held-for-sale properties (1)	5,800		-
Disposals	(1,846)		(1,946)
Depreciation charge	(5,370)		(10,624)
Translation adjustments	210		(2,086)
At end of period	142,431		134,499

(1)    During the financial period, the Group performed an assessment of held-for-sale properties and it was deemed the held-for-sale criteria was no longer met.

10    Goodwill and intangible assets     

	January		July
	2026		2025
	€'000		€'000
Net book value
At beginning of period	318,638		308,852
Arising on acquisition	-		28,121
Additions	4,110		13,349
Disposals	-		(20)
Write-off of intangible assets	-		(8,556)
Amortisation of non-ERP intangible assets	(5,927)		(12,758)
ERP intangible amortisation	(1,765)		(3,375)
Translation adjustments	230		(6,975)
At end of period	315,286		318,638

Included in the total goodwill and intangible assets above is goodwill of €229,008,777 (July 2025: €228,752,000). There have been no indicators of impairment in the first half of the year therefore a full assessment of the carrying value of goodwill and intangibles will be carried out in the second half of the year.

Origin Enterprises plc

Notes to the Condensed Interim Consolidated Financial Statements (continued)

for the six months ended 31 January 2026

11    Investments in associates and joint venture

	January		July
	2026		2025
	€'000		€'000
At beginning of period	47,312		44,484
Investment in associate	-		386
Share of profits after tax, before exceptional items	2,328		9,048
Share of exceptional items, net of tax	-		7,493
Dividends received	(10,310)		(12,642)
Share of other comprehensive expense	(245)		(867)
Translation adjustments	(122)		(590)
At end of period	38,963		47,312

12    Provision for liabilities

The estimate of provisions is a key judgement in the preparation of the condensed interim consolidated condensed financial statements.

	January		July
	2026		2025
	€'000		€'000
At beginning of period	20,049		15,874
Arising on acquisition	-		6,562
Provided in the period	322		2,870
Paid/utilised in the period	(719)		(4,132)
Released in the year	(165)		(702)
Translation adjustments	(82)		(423)
At end of period	19,405		20,049

Provisions primarily relate to contingent acquisition consideration arising on a number of acquisitions completed during prior years.

Origin Enterprises plc

Notes to the Condensed Interim Consolidated Financial Statements (continued)

for the six months ended 31 January 2026

13    Analysis of net cash / (debt)

		31 July				Non-cash		Translation		31 January
		2025		Cashflow		movements		adjustment		2026
		€'000		€'000		€'000		€'000		€'000
	Cash	169,778		(106,856)		-		(151)		62,771
	Overdraft	(70)		(9,838)		-		(150)		(10,058)
	Cash and cash equivalents	169,708		(116,694)		-		(301)		52,713
	Loans	(240,551)		(95,351)		(373)		30		(336,245)
	Net debt	(70,843)		(212,045)		(373)		(271)		(283,532)
	Lease liabilities	(68,297)		9,374		(6,127)		208		(64,842)
	Net debt including lease liabilities	(139,140)		(202,671)		(6,500)		(63)		(348,374)

As at 31 January 2026, the Group had unsecured committed banking facilities of €440.0 million (July 2025: €440.0 million), which will expire in January 2031.

14    Share capital

		January		July
		2026		2025
		€'000		€'000
	Authorised
	250,000,000 ordinary shares of €0.01 each (i)	2,500		2,500
	Allotted, called up and fully paid
	119,741,531 (2025: 119,741,531) ordinary shares of €0.01 each (i)	1,197		1,197

	Number of treasury shares		Nominal value of shares		Carrying value of shares
			€'000		€'000
Treasury shares in issue
At 1 August 2025	(13,017,304)		(130)		(46,966)
Re-issue of treasury shares (ii)	554,842		5		2,002
	(12,462,462)		(125)		(44,964)

(i)     Ordinary shareholders are entitled to dividends as declared and each ordinary share carries equal voting rights at meetings of the Company.

(ii)     During the financial period, the Group re-issued 554,842 treasury shares to satisfy the exercise of share options granted under the Company's Long-Term Incentive Plan (2015).

Origin Enterprises plc

Notes to the Condensed Interim Consolidated Financial Statements (continued)

for the six months ended 31 January 2026

15    Dividends

On 6 February 2026 a dividend of 14.15 cent per ordinary share was paid in respect of the year ended 31 July 2025. The dividend was approved by shareholders at the Annual General Meeting on 20 November 2025.

An interim dividend of 3.15 cent per share will be paid on 19 June 2026 to shareholders on the register on 29 May 2026. These condensed interim consolidated financial statements do not reflect this dividend payable.

16    Taxation

The taxation charge for the interim period is an estimate based on the expected full year effective tax rate on full year profits.

17    Contingent liabilities

The Group is not aware of any major changes with regard to contingent liabilities in comparison with the situation as of 31 July 2025.

18    Related party transactions

Related party transactions occurring in the period were similar in nature to those described in the 2025 Annual Report.

19    Subsequent events

There have been no other material events that would require adjustment to or disclosure in this report.

20    Release of half yearly condensed interim consolidated financial statements

The Group condensed interim consolidated financial information was approved for release by the Board on 2 March 2026.

21    Distribution of Interim Report

This interim report is available on the Group's website (www.originenterprises.com). A printed copy is available to the public at the Company's registered office.

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