Weir Group Plc (LON:WEIR) has reported its interim results for the six months ended 30 June 2026
Strong Q2 orders and improving operating momentum; full year guidance underpinned
HY order1 growth of 8% year on year in line with full year expectations
• OE orders1 +10%; project pipeline conversions, pump trial wins and contribution from new products
• AM orders1 +8%; positive activity levels with strong demand in copper, gold, iron and oil sands
• Strong organic order1 growth; Minerals Q2 AM organic orders1 +8%
Revenue and operating margins in line with expected weighting
• Revenue1 +5% with contributions from acquisitions partially offset by timing of production transfers
• Adjusted operating profit margin1,2 of 18.8% on short-term product mix and strong comparative
• Cumulative Performance Excellence savings of £72m
Cash conversion, net debt and returns on track to meet full year commitments
• Free operating cash conversion of 41%, reflecting seasonality and working capital phasing
• Net debt4 to EBITDA of 2.2x, reflecting cashflow phasing; expected to return towards 1.5x at year end
• Return on capital employed of 15.2%
FY outlook reiterated: growth in constant currency revenue, operating profit and operating margins
• Strong orderbook at end of June, market share gains and positive activity levels expected to continue
• Good operating momentum and improving mix to drive profitability and cashflow in H2
• Full year guidance in line with market expectations
| H1 2026 | H1 2025 | Asreported +/- | Constantcurrency1 +/- | |
| Continuing operations | ||||
| Orders1 | £1,426m | £1,320m | n/a | +8% |
| Revenue | £1,269m | £1,195m | +6% | +5% |
| Adjusted operating profit2,5 | £239m | £237m | +1% | -% |
| Adjusted operating profit margin2,5 | 18.8% | 19.8% | -100bps | -100bps |
| Adjusted profit before tax2,5 | £196m | £213m | -8% | n/a |
| Statutory profit before tax5 | £175m | £164m | +7% | n/a |
| Adjusted earnings per share2,5 | 54.6p | 58.9p | -7% | n/a |
| Return on capital employed | 15.2% | 17.7% | -250bps | n/a |
| Total Group | ||||
| Statutory profit after tax5 | £129m | £112m | +15% | n/a |
| Statutory earnings per share5 | 49.8p | 43.2p | +15% | n/a |
| Free operating cash conversion | 41% | 62% | -21pp | n/a |
| Dividend per share | 20.0p | 19.6p | +2% | n/a |
| Net debt4 | £1,449m | £1,274m* | -£175m | n/a |
*As of 31 December 2025. For all other footnotes see page 4.
Jon Stanton, Chief Executive Officer said:
“Our financial performance for the first half is in line with our expectations and reflects an acceleration in Q2 supported by market share gains in new bids, competitive trials and demand for innovative new solutions. We made strong progress against our strategic priorities, growing the core business, deepening relationships with customers through innovation, delivering further efficiencies and investing in our future growth. With momentum in all areas of the business, our outlook for the full year is underpinned.
The combination of Weir’s differentiated technology and customer service with opportunities coming from new solutions and recent acquisitions means we are well positioned for growth. My successor, Andrew knows this business inside out and together with the outstanding people of Weir, I’m confident that he will take the business from strength to strength in the years to come.”
A webcast of the management presentation will begin at 08:00 (BST) on 29 July 2026 at www.investors.weir. A recording of the webcast will also be available at www.investors.weir
