REG - Braemar PLC - HY26 Trading Update

BraemarAnnouncement

Thu 07:00

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RNS Number : 7085A  Braemar PLC  25 September 2025

 

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     25 September 2025

BRAEMAR PLC

("Braemar", "the Company" and together with its subsidiaries the "Group")

 

HY26 TRADING UPDATE

 

Continued delivery against challenging H1 market backdrop

FY26 board expectations unchanged, with H2 market conditions improving

 

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 six months ending 31 August 2025 ("HY26").

Trading Update

·      Diversified business model partially offsetting weaker H1
chartering rates

·      H2 chartering rates improving and sale and purchase activity
increasing

·      Good progress against strategic targets set in May 2025

·      Order book remains strong and board's FY26 expectations unchanged

The Group continued to benefit from its balanced and diversified business
model in HY26, with a good performance in both the Investment Advisory and
Risk Advisory divisions partially offsetting the financial impact of lower
chartering rates, geopolitical volatility and a much weaker US dollar.

HY26 revenue is expected to be in the region of £63.8m (HY25: £76.0m), with
underlying profit (before acquisition-related expenditure) of c.£5.5m (HY25:
£8.0m).

Following the completion of a £2.0m share buyback and in line with the
Group's usual working capital cycle, net debt at 31 August 2025 was £5.6m
(FY25: net debt £2.5m).

Strategic Progress

Since setting out our future ambitions through the Group's Strategic Framework
on 29 May 2025, progress continues to be made in the delivery of the Group's
FY30 targets and shorter term FY26 operational objectives.

Against the FY26 operational objectives, a number of senior hires have been
made, a new office in South Africa has been opened, efficiencies are being
delivered in Tanker operations, and the Group continues to evaluate potential
acquisitions.

Outlook

The Group's forward order book at the end of August 2025 remained strong at
$73.8m (HY25: $80.9m) and has strengthened further in September 2025. We have
also seen an improvement in chartering rates at the start of the second half
of the year.

Consequently, the board's expectations for the full year remain unchanged,
with the Group's performance expected to be second half weighted in line with
most previous years.

The board remains confident in the longer-term outlook for the Group and
delivering on its FY30 objectives.

Commenting, James Gundy, Group CEO of Braemar said:

"We have made good progress with our strategic priorities and continue to
benefit from the resilience of our diversified business model. Our solid H1
performance was achieved despite a challenging trading environment, ongoing
weaker chartering rates and competition for talent across the industry.

Looking ahead, the market fundamentals continue to be robust, and the Group
remains in a strong position to take advantage of opportunities. Our forward
order book is strong and improving, and charter rates, particularly in
Tankers, have increased since the start of H2, underpinning our confidence in
the full year outlook. We remain focused on delivering our long-term strategic
plan."

 

Notice of Results

The Group expects to announce its HY26 results by mid-November 2025.

1.     Underlying results measures above are before specific items

2.     The total forward order book covers revenue that will be earned in
future periods up until 2039

3.     Company compiled consensus prior to the release of this
announcement: revenue £133.8m (£131.1m - £139.4m); underlying operating
profit (before acquisition-related expenditure) £13.5m (£13.0m - £13.8m)

 

Enquiries:

 Braemar Plc                                 Tel: +44 (0)20 3142 4100
 James Gundy, Group Chief Executive Officer
 Grant Foley, Group Chief Financial Officer
 Rebecca-Joy Wekwete, Company Secretary

 Houston                                     Tel: +44 (0)20 4529 0549
 Kate Hoare / Charlie Barker / Ben Robinson

 Braemar@houston.co.uk

 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 (http://www.braemar.com/)  and follow Braemar
on LinkedIn (https://www.linkedin.com/company/braemar-ltd) .

 

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