UK's Getech H1 revenue rises on Globe subscription renewal
UK's Getech H1 revenue rises on Globe subscription renewal
Overview
UK subsurface resource locator's H1 2026 revenue rose 15% yr/yr to £2.4 mln
Company turned adjusted EBITDA positive, reflecting revenue growth and cost control
Major post-period contract wins include Globe deal with European supermajor, €1 mln EU hydrogen project
Outlook
Company says industry conditions support a strengthening exploration outlook in oil & gas and natural hydrogen
Getech expects increased activity in core markets to be reflected in future performance
Company says it is well placed to meet market expectations for FY26
Result Drivers
CONTRACT WINS - Significant Globe subscription renewal and new multi-year agreements with major oil & gas companies contributed to revenue growth and recurring revenue expansion
PRODUCT ENHANCEMENTS - Investment in proprietary product portfolio, including new releases of Globe and Exploration Analyst, delivered enhanced data and analytical capabilities
COST DISCIPLINE - Maintained reduced cost base following prior restructuring, supporting improved profitability
Company press release: ID:nRSU4295Va
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
H1 Revenue |
| GBP 2.4 mln |
|
H1 Net Loss |
| GBP 241,000 |
|
H1 EBIT |
| -GBP 185,000 |
|
H1 Gross Profit |
| GBP 1.2 mln |
|
H1 Pretax Loss |
| GBP 241,000 |
|
Analyst Coverage
The one available analyst rating on the shares is "strong buy"
The average consensus recommendation for the mining support services & equipment peer group is "buy."
Wall Street's median 12-month price target for Getech Group PLC is GBp4.00, about 23.1% above its September 18 closing price of GBp3.25
The stock recently traded at 68 times the next 12-month earnings vs. a P/E of 47 three months ago
Reuters Recommended Reads
Sept 18 - Germany's Enapter prelim H1 revenue nearly doubles on Italian Hydrogen Valley orders
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)