Accsys Technologies Plc · LSE:AXS
Accsys Technologies — H1 FY26 Earnings Presentation
26 slides from Accsys Technologies's earnings presentation, Nov 25, 2025
Slide 1: Strong trading performance with significant improvement in profitability
25 November 2025 STRONG TRADING PERFORMANCE WITH SIGNIFICANT IMPROVEMENT IN PROFITABILITY Accsys Technologies PLC Interim Results For the six months ended 30th September 2025 Decking, NEMO Science Museum, Amsterdam, Netherlands
Slide 2: Agenda
AGENDA 01 02 03 04 Overview Financial Business Outlook Review Review
Slide 3: Presentation team
ACCSYS Presentation team Sameet Vohra Dr Jelena Arsic van Os CFO CEO Joined the Accsys Board Joined the Accsys Board in September 2024. in June 2023. More than 30 years’ Over 25 years’ of experience in finance, international leadership with over 20 years’ experience in large-cap experience working i
Slide 4: Overview
01 Overview Dr Jelena Arsic van Os Chief Executive Officer Decking, Bow Bridge, Photography: 4 © Aaron Locke, Central Park, New York, U.S.
Slide 5: H1 FY26 Highlights
H1 FY26 HIGHLIGHTS 22% Increase in total Accoya sales 2 EXCELLENT FIRST HALF WITH SIGNIFICANT volumes at 38,618m³ (H1 FY25: 31,553m³) IMPROVEMENT IN PROFITABILITY €76.1m Group revenue • Strong Accoya volume growth, maintaining pricing discipline (H1 FY25: €72.2m) • 23% increase in Group revenue on a
Slide 6: Highlights - FOCUS Strategy
HIGHLIGHTS - FOCUS STRATEGY We continue to build a strong and sustainable platform for growth Strong financial Like-for-like GM increase Gaining market share Strengthened talent Sustainability strategy performance 1.1% across our sites defined Three new distributors Business derisked with €2.3m busi
Slide 7: Financial Review
02 Financial Review Sameet Vohra Chief Financial Officer Cladding, STUA showroom, Spain
Slide 8: Financial Overview – Strong Financial Performance
FINANCIAL OVERVIEW – STRONG FINANCIAL PERFORMANCE H1 FY26 H1 FY25 Change Sales volumes (m³) Group 30,575 30,372 +0.7% US JV – 100% 8,043 1,181 Total 38,618 31,553 +22.4% Revenues (€m) Group 76.1 72.2 +5.4% US JV – 60% share 13.8 1.9 Aggregated revenue 89.9 74.1 +21.3% Group (excl. JV) (€m) Gross pro
Slide 9: Group Revenue Progression H1 FY26
GROUP REVENUE PROGRESSION H1 FY26 • 23% like-for-like revenue growth (€ million) 100.0 – Sales growth in all regions fully replaced the North America volumes transferred to the JV 95.0 – Strong pricing discipline 90.0 13.8 89.9 +23% like-for-like revenue growth • Favourable product mix with higher 8
Slide 10: Gross Margin Progression H1 FY26
GROSS MARGIN PROGRESSION H1 FY26 • Gross margin decreased by 20bps to 30.5%, arising from higher margin North (€ million) America sales being transferred to the JV 27.0 +110bps like-for-like gross margin growth • 110bps like-for-like gross margin growth 30.5% • Strong pricing discipline 25.0 • Sales
Slide 11: Adjusted EBITDA Progression H1 FY26
ADJUSTED EBITDA PROGRESSION H1 FY26 • +160% growth in adjusted EBITDA to (€ million) €10.4m 12.0 +620bps adjusted EBITDA margin 11.6% • +620bps increase in margin to 11.6%, close to our Phase 1 FOCUS target of 10.0 4.0 10.4 12% • Continued cost control discipline. €2.3m 8.0 benefit from FY24 busines
Slide 12: EBITDA Segmental Breakdown H1 FY26
EBITDA SEGMENTAL BREAKDOWN H1 FY26 • Strong financial performance from the (€ million) Accoya segment driven by sales volume Margin 16.7% H1 FY25: 14.8% growth 14.0 Margin 14.1% H1 FY25: 11.5% 12.7 (2.0) Margin 11.6% • Continued cost control discipline in 12.0 H1 FY25: 5.4% H1 FY25: 10.7 H1 FY25: (2
Slide 13: Net Debt Bridge
NET DEBT BRIDGE (€ million) • Improvement in leverage ratio from 2.5x 45.0 Leverage to 2.1x (excluding CLNs 0.8x) 2.5x 42.6 Leverage • Working capital outflow due to higher 2.9 2.1x 40.0 (0.7) inventory levels (€4.6m), ahead of (0.8) 39.8 2.3 annual maintenance stop, and to ensure product availabili
Slide 14: Financial Summary
FINANCIAL SUMMARY • Excellent first half with significant improvement in profitability • Strong total sales volume growth of 22% with accelerating sales in North America • JV close to break even EBITDA in H1 • Adjusted EBITDA of €10.4m with margin of 11.6%, close to our Phase 1 target • Continued fo
Slide 15: Business Review
04 Business Review Dr Jelena Arsic van Os Chief Executive Officer Cladding, Palmerston Hospital, © Paul McCredie, New Zealand
Slide 16: Strategic Progress
STRATEGIC PROGRESS On track to deliver our Phase One FOCUS targets Phase One FY24-27 Strong and profitable growth Underway • Adjusted EBITDA margin increased to 11.6% (H1 FY25: 5.4%) Transform and Improve Operating cash flow conversion in line with target at 75% Sustainable profitable growth from
Slide 17: Accoya Sales Growth
ACCOYA SALES GROWTH Sales volume Strong demand across all by end market (m3) H1 FY26 Growth (%) geographies UK & Ireland 8,676 13.8 Total global Accoya sales volume up 22%, with growth ahead of broader building materials market Rest of Europe 8,892 22.2 Premium price point that remains resilient eve
Slide 18: Accoya USA
ACCOYA USA Excellent performance for the JV JV 61% Sales volume growth ADD IMAGE – ACCOYA USA TRUCK 8,043m³ Sales volumes H1 FY25 €(0.3)m 60% share of EBITDA (€(4.3)m H1 FY25) • Excellent performance with strong sales acceleration and growth momentum • Close to break even for H1 • Action taken to ma
Slide 19: North America Market Overview
NORTH AMERICA MARKET OVERVIEW Gaining share in a growing market US decking and siding growth forecast, Principia Builders Series, August 2025. • Decking and cladding are key applications for US customer, accounting CATEGORY 2024-27 CAGR for 75% of US sales Decking • The modified woods category is se
Slide 20: Group Operations
GROUP OPERATIONS Driving operational efficiency to maximise returns on our assets Arnhem Barry Group like-for-like GM increase 1.1% 56% year-on-year total Accoya Color sales volume growth Improved utilisation of net acetyls Second shift added in June 2025 at Barry facility to more than double capaci
Slide 21: Sustainability Plan: Accsys Cares
SUSTAINABILITY PLAN Accsys Cares • We are proud to launch Accsys Cares – our comprehensive Sustainability Plan • It aims to further build sustainable long-term value and resilience across four key pillars: People, Planet, Profit, and Governance • It sets out our decarbonisation targets, enhancing th
Slide 22: Outlook
04 Outlook Dr Jelena Arsic van Os Chief Executive Officer Cladding, Residential home, © Agnese Sanvito, West London, UK 22
Slide 23: Current trading and outlook
Current trading and outlook • Strong H1 performance despite challenging ongoing macroeconomic conditions • We are growing global market share and trading remains robust • Sales are accelerating in North America and, notwithstanding the impact of the recently announced tariffs, we expect the JV to be
Slide 24: Accsys Investment Case
ACCSYS INVESTMENT CASE Substantial growth opportunity 1 Inflection point with potential to deliver significant shareholder value 2 Industry disrupter: IP backed, sustainable premium wood products 3 Growing and sizeable addressable markets underpinned by strong brand 4 Established manufacturing footp
Slide 25: Yn a g &
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Slide 26: Disclaimer
DISCLAIMER NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION No representation or warranty, express or implied, is made or given by or on behalf of Ac