Business
FY26 Trading Update
Braemar Plc reported its financial year 2026 results, with revenue of approximately £135.0 million and underlying operating profit of around £13.2 million, both in line with expectations and company consensus, though lower than the previous year's £141.9 million revenue and £16.7 million profit. The company's net debt stood at £2.9 million at the end of February 2026, but it is expected to return to a net cash positive position in March 2026. Braemar's diversified business model contributed to a stronger second half performance, and the company made strategic progress including expanding into Africa and launching a UK Organised Trading Facility. The forward order book remains robust at $72.5 million, and despite geopolitical uncertainty, the board is confident in achieving its FY30 objectives. Disclaimer*
About this update from Braemar Plc
25 March 2026 BRAEMAR PLC ("Braemar", "the Company" and together with its subsidiaries the "Group") FY26 TRADING UPDATE Strong H2 performance as forecast Diversified business model drives results in line with expectations Braemar Plc (LSE: BMS), a leading provider of expert investment, chartering and risk management advice to the shipping and energy markets, announces a trading update for the year ended 28 February 2026 ("FY26"). FY26 performance in line with expectations · Revenue of approximately £135.0m 1 (FY25: £141.9m) · Underlying operating profit 2 (before acquisition-related expenditure) of c.£13.2m 1 (FY25: £16.7m), subject to audit · Net debt at 28 February 2026 of £2.9m (FY25: net debt £2.5m), returning to a net cash positive position during March 2026 As expected, the Group's second half performance was stronger than the first half, with the Group benefitting from the depth and breadth of its diversified business model in a stronger market. Good progress against strategic framework The Group made good progress on the FY26 operational targets set out in the strategic framework presented in May 2025. During the year, this included expanding into a new jurisdiction with the opening of the Group's first office in Africa, supporting growth in our Securities business with the launch of a UK Organised Trading Facility and further strengthening the business with key senior hires made through the year. The Group also completed its £2m share buyback programme and continued to evaluate opportunities to build the business through complementary acquisitions. Further details of the Group's strategic progress will be given in the FY26 results. Outlook The Group's forward order book 3 at the end of February 2026 remains strong at $72.5m (FY25: $82.2m). The current conflict in the Middle East is creating uncertainty, with increased rates but lower volumes in certain markets. Nonetheless, the board remains confident in the Group's prospects and delivering on its FY30 objectives, with sustained focus on its stated strategic priorities: operational excellence, diversification and consolidation. Notice of results The Company expects to publish its results for FY26, together with notification of its final dividend, by the end of May 2026. Commenting, James Gundy, Group CEO of Braemar said: "We continued to benefit from our diversified business model during FY26 and made good progress against the objectives we set out at the start of the year. We look ahead with a strengthened operational platform as we continue to deliver on our growth strategy as a trusted broker of choice to the shipping and energy markets. The wider market remains fragmented and complementary acquisition opportunities are being actively evaluated." 1. Company compiled consensus prior to the release of this announcement for the year ended 28 February 2026: revenue £132.0m (£130.5m - £134.2m); underlying operating profit (before acquisition-related expenditure) £13.2m (£13.0m - £13.8m) 2. Underlying results measures above are before specific items 3. The total forward order book covers revenue that will be earned in future periods up until 2039 Enquiries: Braemar Plc Tel: +44 (0)20 3142 4100 James Gundy, Group Chief Executive Officer Grant Foley, Group Chief Financial and Operating Officer Rebecca-Joy Wekwete, Company Secretary Houston Tel: +44 (0)20 4529 0549 Kate Hoare / Charlie Barker / Polly Clarke [email protected] Tel: +44 (0)77 3303 2695 Canaccord Genuity Tel: +44 (0) 20 7523 8000 Adam James / Harry Rees About Braemar Plc Braemar provides expert advice in shipping investment, chartering, and risk management to enable its clients to secure sustainable returns and mitigate risk in the volatile world of shipping. Our experienced brokers work in tandem with specialist professionals to form teams tailored to our customers' needs, and provide an integrated service supported by a collaborative culture. Braemar joined the Official List of the London Stock Exchange in November 1997 and trades under the symbol BMS. For more information, including our investor presentation, visit www.braemar.com and follow Braemar on LinkedIn .