IMI plc (IMI) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hello everyone and welcome to the IMI plc interim results 2026. My name is Nadia and I'll be coordinating the call today. If you would like to ask a question please press star fully by one on your telephone keypad. I will now hand over to your host Roy Twite, CEO to begin. Please go ahead. Good morning everybody and welcome to IMI's 2026 interim results presentation. I am joined here today by our CFO Luke Grant. Together we're going to take you through what was a strong first half performance and I'd like to begin by thanking our people. It is a real privilege to lead such a talented and committed team and this first half performance is a direct reflection of their hard work and their dedication. We delivered 5% organic revenue growth in the first half with growth across all of IMI. Organic adjusted operating profit was 8% higher than the same period last year. Growth Hub continues to deliver with orders up 22% to £78 million despite a strong prior year comparator. and we saw a significant improvement in free cash flow generation. We are committed to deploying this capital for growth and to enhance shareholder returns. We returned over £300 million to shareholders in the first half and are declaring another 10% increase in the interim dividend. I am pleased to reconfirm our full year guidance. We are on track to deliver our sixth consecutive year of mid-single digit organic revenue growth and we continue to expect full year adjusted EPS to be between 136 pence and 142 pence. Importantly, excluding any contribution from Truflow Marine, we expect to deliver our typical 45% half one to 55% half two EPS weighting. IMI has been fundamentally transformed since we launched our growth strategy in 2019, delivering a 10% EPS CAGR as we create significant value for shareholders...