Croda H1 2026 results: £880.5m sales and margin progress from transformation
- Group sales £880.5m in H1 2026, up 2.9% reported and 4.6% organic.
- Adjusted operating profit £155.8m, up 6.7% organic; adjusted operating margin 17.7%.
- Free cash flow £38.3m (+36.8%); net debt £577.9m and leverage 1.4x; interim dividend held at 48.0p.
- FY26 outlook unchanged: Group organic sales expected in 3–6% range; Q3 sales update due 5 November 2026.
Half-year results
Croda reports H1 results for the six months ended 30 June 2026 with Group sales of £880.5m (H125: £855.8m), a 2.9% reported increase and 4.6% organic sales growth. Adjusted operating profit rose to £155.8m (H125: £146.9m), a 6.7% organic increase, and adjusted operating margin improved to 17.7% (H125: 17.2%). Statutory (IFRS) operating profit was £115.5m (H125: £94.4m). Basic EPS (adjusted) was 78.6p and interim dividend held at 48.0p.
Commercial and cash performance
Growth was led by Consumer Care (+8% organic) with Beauty Actives +19%, Beauty Care +4%, Home Care +9% and Fragrances & Flavours +8%. New & Protected Products grew 6.9% organically. Life Sciences was flat overall with Pharma +1% and Seed +4%; Industrial Specialties declined 2%. Q2 sales were stronger at +9% with limited impact from Middle East events. Free cash flow increased 36.8% to £38.3m (H125 restated: £28.0m); net debt £577.9m and leverage 1.4x.
Outlook and FX
Guidance for full year 2026 is unchanged: Group organic sales expected within the 3–6% range and a further increase in adjusted operating margin. Constant-currency guidance uses 2025 average rates (US$1.32, €1.17); translation moves are estimated to affect adjusted operating profit by c. £1m per US cent or Euro cent. H1 FX translation reduced adjusted operating profit by £1.0m; if July–Dec rates match June 2026 closing, reported FY26 operating profit could be c. £4m lower.
Source: Croda
