Hunting Plc · LSE:HTG
Hunting — H1 2026 Earnings Presentation
50 slides from Hunting's earnings presentation, Aug 21, 2026
Slide 1: Precision Engineering: Strategic Expansion and Operational Delivery
PRECISION ENGINEERING STRATEGIC EXPANSION AND OPERATIONAL DELIVERY Hunting PLC Half Year Report 2026
Slide 2: We are Hunting
We are Hunting Contents Contents Half Year Management Report 01 Hunting is a global precision engineering group, which provides quality-assured products and services to high-value, critical end-markets. We manufacture high-technology products that lower the cost of operation, resolve technical Indep
Slide 3: Half Year Management Report
Half Year Management Independent Review Financial Report Hunting PLC 1 Report Report to Hunting PLC Half Year Report 2026 Half Year Management Report
Slide 4: Group review
Half Year Management Independent Review Financial Report Hunting PLC 2 Report Report to Hunting PLC Half Year Report 2026 Hunting PLC, the global precision engineering group, announces its results Introduction for the six months ended 30 June 2026. The reporting period has been one of continued stra
Slide 5: Strategic initiatives and dividend
Half Year Management Independent Review Financial Report Hunting PLC 3 Report Report to Hunting PLC Half Year Report 2026 Group review continued Strategic initiatives Dividend – The Board is declaring an interim dividend of 7.0 cents per share (H1 2025 – 6.2 cents), Hunting’s long-term growth strate
Slide 6: Trading outlook
Half Year Management Independent Review Financial Report Hunting PLC 4 Report Report to Hunting PLC Half Year Report 2026 Group review continued Trading outlook The Directors expect activity in the Middle East to rapidly recover once the conflict is resolved and In North America, activity levels are
Slide 7: Market overview
Half Year Management Independent Review Financial Report Hunting PLC 5 Report Report to Hunting PLC Half Year Report 2026 Market overview As many market commentators have noted during the reporting period, the impact on crude oil supply and commodity price shocks to global energy markets have been d
Slide 8: Financial review
Half Year Management Independent Review Financial Report Hunting PLC 6 Report Report to Hunting PLC Half Year Report 2026 Financial review The period-on-period decline primarily reflected: (i) the absence of sales to Kuwait Oil Company, with the contract completing in May 2025; (ii) lower sales with
Slide 9: Group funding and cash position at the half year
Half Year Management Independent Review Financial Report Hunting PLC 7 Report Report to Hunting PLC Half Year Report 2026 Financial review continued Profit before tax Non-GAAP measures Following the charges for interest noted above, profit before tax in the period was $34.2m compared In H1 2026, the
Slide 10: Financial review continued: EBITDA
Half Year Management Independent Review Financial Report Hunting PLC 8 Report Report to Hunting PLC Half Year Report 2026 Financial review continued EBITDA Settlement of import tax liability Hunting reported EBITDA of $62.1m during H1 2026 (H1 2025 – $70.2m), as discussed above. During the period, a
Slide 11: Balance sheet
Half Year Management Independent Review Financial Report Hunting PLC 9 Report Report to Hunting PLC Half Year Report 2026 Financial review continued Dividends Balance sheet The 2025 Final Dividend of 6.8 cents per share was paid to equity shareholders on 8 May 2026, which Summary Group balance sheet
Slide 12: Sales order book
Half Year Management Independent Review Financial Report Hunting PLC 10 Report Report to Hunting PLC Half Year Report 2026 Financial review continued Assets held for sale Net debt At 30 June 2026 and at 31 December 2025 the Drilling Tools property in Latrobe, Pennsylvania, Net debt (note 13) at 30 J
Slide 13: Product group review
Half Year Management Independent Review Financial Report Hunting PLC 11 Report Report to Hunting PLC Half Year Report 2026 Product group review Summary product group review H1 2026 H1 2025 Sales order Sales order Revenue EBITDA i book i Revenue EBITDA i booki $m $m $m $m $m $m Perforating Systems 14
Slide 14: Product group review continued
Half Year Management Independent Review Financial Report Hunting PLC 12 Report Report to Hunting PLC Half Year Report 2026 Product group review continued Tender activity across Hunting’s international markets has remained strong despite the Middle East Advanced Manufacturing conflict influencing cus
Slide 15: Operating segment review
Half Year Management Independent Review Financial Report Hunting PLC 13 Report Report to Hunting PLC Half Year Report 2026 Operating segment review Summary operating segment review H1 2026 H1 2025 Adjusted Reported Adjusted Reported operating operating operating operating Revenue EBITDA i result ii
Slide 16: Operating segment review continued
Half Year Management Independent Review Financial Report Hunting PLC 14 Report Report to Hunting PLC Half Year Report 2026 Operating segment review continued Subsea Technologies Asia Pacific The Subsea Technologies operating segment reported revenue of $115.6m in H1 2026, compared Asia Pacific trade
Slide 17: Board changes, Executive Committee changes, Change of External Auditor
Half Year Management Independent Review Financial Report Hunting PLC 15 Report Report to Hunting PLC Half Year Report 2026 Board changes Principal risks and uncertainties facing On 1 June 2026, the Company announced that Jim Johnson, Chief Executive, had given notice the business of his intention to
Slide 18: Forward-looking statements; Statement of Directors' Responsibilities
Half Year Management Independent Review Financial Report Hunting PLC 16 Report Report to Hunting PLC Half Year Report 2026 Forward-looking statements Statement of Directors’ Responsibilities Certain statements in this Half Year Report are forward-looking. Although the Group believes that The Directo
Slide 19: Independent Review Report to Hunting PLC
Half Year Management Independent Review Financial Report Hunting PLC 17 Report Report to Hunting PLC Half Year Report 2026 Independent Review Report to Hunting PLC
Slide 20: Conclusion, Basis for conclusion, Going concern
Half Year Management Independent Review Financial Report Hunting PLC 18 Report Report to Hunting PLC Half Year Report 2026 Conclusion Responsibilities of the Directors We have been engaged by the Company to review the condensed set of financial statements in the The Directors are responsible for pre
Slide 21: Financial Report
Half Year Management Independent Review Financial Report Hunting PLC 19 Report Report to Hunting PLC Half Year Report 2026 Financial Report
Slide 22: Condensed Consolidated Income Statement and Comprehensive Income
Half Year Management Independent Review Financial Report Hunting PLC 20 Report Report to Hunting PLC Half Year Report 2026 Condensed Consolidated Condensed Consolidated Statement Income Statement of Comprehensive Income Unaudited Unaudited Unaudited Unaudited Six months Six months Six months Six mon
Slide 23: Condensed Consolidated Balance Sheet
Half Year Management Independent Review Financial Report Hunting PLC 21 Report Report to Hunting PLC Half Year Report 2026 Condensed Consolidated Balance Sheet Unaudited Audited Unaudited Audited At At At At 30 June 31 December 30 June 31 December 2026 2025 2026 2025 Notes $m $m Notes $m $m ASSETS L
Slide 24: Condensed Consolidated Statement of Changes in Equity
Half Year Management Independent Review Financial Report Hunting PLC 22 Report Report to Hunting PLC Half Year Report 2026 Condensed Consolidated Statement of Changes in Equity Unaudited Other Total attributable Non- Share Share components Retained to owners of controlling Total capital premium of e
Slide 25: Condensed Consolidated Statement of Cash Flows
Half Year Management Independent Review Financial Report Hunting PLC 23 Report Report to Hunting PLC Half Year Report 2026 Condensed Consolidated Statement of Cash Flows Unaudited Unaudited Unaudited Unaudited Six months Six months Six months Six months ended ended ended ended 30 June 30 June 30 Jun
Slide 26: Notes
Half Year Management Independent Review Financial Report Hunting PLC 24 Report Report to Hunting PLC Half Year Report 2026 Notes 1. Basis of accounting • the requirement to classify all income and expenses into five categories, along with the introduction Hunting PLC is a public company limited by s
Slide 27: Segmental reporting
Half Year Management Independent Review Financial Report Hunting PLC 25 Report Report to Hunting PLC Half Year Report 2026 1. Basis of accounting continued Going concern continued The Group has access to substantial financial resources, including a $200m revolving credit facility (“RCF”) and a $100m
Slide 28: Segment revenue and profit continued
Half Year Management Independent Review Financial Report Hunting PLC 26 Report Report to Hunting PLC Half Year Report 2026 2. Segmental reporting continued Segment revenue and profit continued Six months ended 30 June 2025 Total Inter- Total Adjusted Reported segment segment external operating Adjus
Slide 29: Revenue; Net operating income and other expenses
Half Year Management Independent Review Financial Report Hunting PLC 27 Report Report to Hunting PLC Half Year Report 2026 3. Revenue In the following table, a breakdown of the Group’s different revenue streams by segment has been given, including the disaggregation of revenue from contracts with cu
Slide 30: Adjusting items, Net finance expense, Taxation
Half Year Management Independent Review Financial Report Hunting PLC 28 Report Report to Hunting PLC Half Year Report 2026 5. Adjusting items 6. Net finance expense Due to their size and nature, the following items have been disclosed separately, as required by IAS 1. Six months Six months ended end
Slide 31: Earnings per share
Half Year Management Independent Review Financial Report Hunting PLC 29 Report Report to Hunting PLC Half Year Report 2026 7. Taxation continued The taxation charge for the six months ended 30 June 2026 is $9.7m (six months ended 30 June 2025 – $9.2m). This reflects an effective tax rate of 28% (six
Slide 32: Non-current assets: PP&E, right-of-use assets, goodwill, intangibles
Half Year Management Independent Review Financial Report Hunting PLC 30 Report Report to Hunting PLC Half Year Report 2026 9. Non-current assets – property, plant and equipment; (b) Goodwill Goodwill is allocated to the Group’s cash-generating units (“CGUs”) as follows: right-of-use assets; goodwill
Slide 33: Impairment of non-current assets; Trade receivables
Half Year Management Independent Review Financial Report Hunting PLC 31 Report Report to Hunting PLC Half Year Report 2026 10. Impairment of non-current assets 11. Trade, contract and other receivables (a) Indicators of impairment and updated impairment tests At At In preparing the condensed consoli
Slide 34: Trade, contract and other receivables continued
Half Year Management Independent Review Financial Report Hunting PLC 32 Report Report to Hunting PLC Half Year Report 2026 11. Trade, contract and other receivables continued Impairment of trade, contract and other receivables At 30 June 2026, the ageing of the Group’s gross financial assets, based
Slide 35: Inventories
Half Year Management Independent Review Financial Report Hunting PLC 33 Report Report to Hunting PLC Half Year Report 2026 11. Trade, contract and other receivables continued Provision for impairment – trade and other receivables The movements on inventories during the period were as follows: During
Slide 36: Changes in net cash/(debt)
Half Year Management Independent Review Financial Report Hunting PLC 34 Report Report to Hunting PLC Half Year Report 2026 13. Changes in net cash/(debt) Hunting operates a centralised treasury function that manages all cash and borrowing positions throughout the Group and ensures funds are used eff
Slide 37: Provisions; Financial instruments: fair values
Half Year Management Independent Review Financial Report Hunting PLC 35 Report Report to Hunting PLC Half Year Report 2026 14. Provisions 15. Financial instruments: fair values This note provides information about the Group’s financial instruments measured at fair value, Restructuring Import tax Oth
Slide 38: Financial risk management
Half Year Management Independent Review Financial Report Hunting PLC 36 Report Report to Hunting PLC Half Year Report 2026 15. Financial instruments: fair values continued (b) Fair value hierarchy continued 16. Financial risk management The Group’s activities expose it to certain financial risks, na
Slide 39: Financial risk management continued
Half Year Management Independent Review Financial Report Hunting PLC 37 Report Report to Hunting PLC Half Year Report 2026 16. Financial risk management continued (a) Liquidity risk continued This strategy is subject to legislative and regulatory constraints in certain jurisdictions such as (i) Bank
Slide 40: Share capital and share premium; Dividends paid
Half Year Management Independent Review Financial Report Hunting PLC 38 Report Report to Hunting PLC Half Year Report 2026 16. Financial risk management continued (b) Credit risk continued Share buyback (ii) Credit risk: receivables continued On 5 March 2026, the Group announced the extension of the
Slide 41: Acquisitions
Half Year Management Independent Review Financial Report Hunting PLC 39 Report Report to Hunting PLC Half Year Report 2026 19. Acquisitions The fair values of identifiable net assets acquired and the consideration are set out below: There were no acquisitions in the six months ended 30 June 2026. Fa
Slide 42: Related-party transactions; Events after the balance sheet date
Half Year Management Independent Review Financial Report Hunting PLC 40 Report Report to Hunting PLC Half Year Report 2026 19. Acquisitions continued (a) Acquisition of subsidiaries continued The relative fair values of net assets acquired were as follows: The goodwill arising of $19.6m represented
Slide 43: Non-GAAP Measures
Half Year Management Independent Review Financial Report Hunting PLC 41 Report Report to Hunting PLC Half Year Report 2026 Non-GAAP Measures The performance of the Group is assessed by the Directors using a number of measures, which A. Adjusting items are not defined under IFRS, and are therefore co
Slide 44: Non-GAAP Measures continued: Adjusted profitability measures, EBITDA
Half Year Management Independent Review Financial Report Hunting PLC 42 Report Report to Hunting PLC Half Year Report 2026 Non-GAAP Measures continued B. Adjusted profitability measures C. EBITDA Certain reported profit and loss measures are adjusted for the items described in NGM A. This is the Pur
Slide 45: Non-GAAP Measures continued: EBITDA by operating segment
Half Year Management Independent Review Financial Report Hunting PLC 43 Report Report to Hunting PLC Half Year Report 2026 Non-GAAP Measures continued C. EBITDA continued EBITDA by operating segment Six months ended 30 June 2026 Hunting North Subsea Asia Unapportioned Titan America Technologies EMEA
Slide 46: Adjusted tax charge, effective tax rate, inventory days
Half Year Management Independent Review Financial Report Hunting PLC 44 Report Report to Hunting PLC Half Year Report 2026 Non-GAAP Measures continued D. Adjusted tax charge and effective tax rate For the purposes of the above calculation, annualised revenue is calculated as revenue for the last Pur
Slide 47: Trade payables days; Total cash and bank/(borrowings)
Half Year Management Independent Review Financial Report Hunting PLC 45 Report Report to Hunting PLC Half Year Report 2026 Non-GAAP Measures continued H. Trade payables days The Group’s total cash and bank/(borrowings) comprised: Purpose: This is a working capital efficiency ratio that measures paya
Slide 48: Cash flow working capital movements; Free cash flow
Half Year Management Independent Review Financial Report Hunting PLC 46 Report Report to Hunting PLC Half Year Report 2026 Non-GAAP Measures continued K. Cash flow working capital movements L. Free cash flow Purpose: Reconciles the working capital movements in the Summary Group Cash Flow in the Purp
Slide 49: Return on average capital employed; Sales order book
Half Year Management Independent Review Financial Report Hunting PLC 47 Report Report to Hunting PLC Half Year Report 2026 Non-GAAP Measures continued M. Return on average capital employed N. Sales order book Purpose: Measures the levels of return the Group is generating from its capital employed. P
Slide 50: Grane
Grane