Chemring : Interim results for the six months to 30 April 2026

About this update from Chemring Group Plc

Interim results for the six months to 30 April 2026 02 Jun 2026 H1 in-line and FY26 expectations unchanged; record order book underpins medium term growthAs reported At H1 2025 exchange rates H1 2026Change H1 2026 Change H1 2025 Continuing operations Order book (£m) 1,399.4 +8% 1,355.1 +5% 1,296.0 Revenue (£m) 237.3 +7% 237.4 +7% 222.8 Underlying EBITDA*(£m) 38.2 -2% 37.0 -5% 38.8 Underlying operating profit* (£m) 24.5 -8% 23.2 -12% 26.5 Underlying diluted earnings per share* (pence) 6.1 -8% 5.7 -14% 6.6 Statutory operating profit (£m) 21.7 -25% 19.9 -31% 28.9 Interim dividend per share (pence) 2.8p +4% 2.7 Net debt at 30 April (£m) 144.5 144.6 93.3 Key highlights Record closing order book of £1.4bn, the highest in the Group's history, providing strong medium-term revenue visibility H1 2026 performance was in-line with the Board's expectations, with revenue up 6.5% and an operating margin of 10.3% Energetics expansion projects continue at pace, with £44m of capex invested in the period Net debt was £144.5m, as expected given continued investment in Energetics capacity; net debt to underlying EBITDA on a rolling 12-month basis of 1.47 times (H1 2025: 0.98 times) Interim dividend per share of 2.8p, up 4% (H1 2025: 2.7p) The Board's expectations for 2026 are unchanged, with 91% of the Board's expected 2026 revenue either delivered or in the order book at 30 April 2026 The Group's longer-term growth prospects remain strong, underpinned by sustained demand, high barriers to entry and a strong pipeline of opportunities Michael Ord, Chemring Group Chief Executive, commented: "These results reflect strong demand across our core markets, with our order book reaching a new record level. First half performance was in line with our expectations, despite near-term disruption in the UK market, and our full year outlook remains unchanged. Our energetics expansion programme is progressing at pace, with Chicago complete and ramping production, Scotland progressing through commissioning, and Norway advancing through its next phase. Meanwhile Roke has continued to make further progress as it grows its products business, securing early domestic and international sales of its new counter-drone system. Against a backdrop of geopolitical instability, a shift towards high-intensity deterrence and higher defence and national security spending, we continue to invest in the capabil...

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