Origin Enterprises plc (OGN) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, ladies and gentlemen, and welcome to the Origin Enterprises PLC interim results presentation 2025. Just a reminder that this call is being broadcast online and the presentation is available to view on the Origin Enterprises website. I will now pass over to Sean Coyle, CEO of Origin Enterprises PLC. Please go ahead, sir. Thank you, Sergey, and good morning, everyone, and welcome to the first half of the 2025 year conference call. I'm joined by my colleagues, Colm Purcell, our Chief Financial Officer, TJ Kelly, Managing Director of our Living Landscapes Division, and Brendan Corcoran, our Head of Investor Relations. Firstly, we'll proceed the presentation by giving the typical safe harbor statement, and we'll move on to the figures now. So overall, we've had a very strong first half performance in the year with strong growth in organic operating profit, as well as some supplemented growth through acquisition in the living landscapes division. Despite the fact that volumes in Q1 of last year were down by 12.3%, In the Ireland UK segment, we have seen a very strong recovery in the second quarter and we're down by 1.5% at the end of H1. The business has seen recovery across Ireland UK and living landscapes has grown significantly as well with operating profit growth of 17% and EPS growth of 38% in the period. As I said, agriculture has seen a strong bounce back. And were it not for the depreciation of the Brazilian RAI against the euro, in fact, we would have seen very strong growth within the agriculture segment as well. So the improved planting area and on-farm conditions in the northern hemisphere has helped the recovery significantly. but largely that has been, I suppose, offset by weaker Brazilian RAI against the Euro, resulting in a decline in the LATA...