Origin Enterprises - Q3 Trading Update
Origin Enterprises plc
Q3 Trading Update
Good growth across Agriculture and Living Landscapes despite volatile macro environment
Full-year adjusted diluted EPS guidance of 52-55 cent
Dublin, London, 11 June 2026. Origin Enterprises plc ('Origin' or 'the Group'), the international group shaping the future of sustainable agriculture and land use, today announces its FY26 Trading Update for the three months ('Q3') and nine months ended 30 April 2026 ('YTD'), and full-year guidance for FY26.
Highlights and Outlook
· Revenue growth of 2.7% YTD (5.0% constant currency) to €1.63bn, with Q3 up 2.9% (4.9% constant currency) reflecting sustained growth across Agriculture and Living Landscapes, despite geopolitical uncertainty and continued volatility in agricultural input and commodity markets.
· Excluding crop marketing, Group revenue increased 3.5% YTD (6.1% constant currency), driven by 1.2% volume growth, 4.1% pricing and a 0.8% contribution from acquisitions, partially offset by a 2.6% currency headwind.
· Agriculture; Revenue increased 2.1% YTD (4.2% constant currency) to €1.48bn.
o Volume growth of 0.9%, driven by LATAM and CE, increased pricing of 3.3%, offset partially by negative currency impact of 2.1%.
o Pricing reflects higher fertiliser raw material prices in Q3, driven by supply challenges arising from the closure of the Strait of Hormuz. Good early season commitment by customers across UK and Ireland businesses ensured strong product availability and customer supply, although demand remains measured as growers balance higher input costs with more modest output price increases.
o Completed bolt-on acquisition of Clarendon Agricare, strengthening Origin's plant protection distribution capability in Northern Ireland.
· Living Landscapes; Revenue increased by 9.3% YTD (13.2% constant currency) to €150.0m, including 5.0% underlying growth and an 8.2% contribution from acquisitions.
· Full-year adjusted diluted EPS guidance of 52-55 cent (FY25: 54.21 cent).
· FY26 Preliminary Results will be announced on 22 September 2026.
· Capital Markets Day for investors and analysts will be held on 17 November 2026 in London.
Origin's Chief Executive Officer, Sean Coyle, commented: "Origin delivered a good performance in the first nine months, supported by a more balanced and diversified earnings base across the Group. Agriculture performed well, with supply chain management aligned to customer demand driving volume growth. Farmers continue to manage input spend carefully, where crop input inflation, particularly in fertiliser, has outpaced grain pricing, reflecting market dynamics following the Middle East conflict and the introduction of CBAM (Carbon Border Adjustment Mechanism). We continue to monitor geopolitical developments and mitigate any associated impact through disciplined procurement, flexible supply channels and local market access. Living Landscapes has performed well year to date, combining good organic growth with the benefit of prior year acquisitions. It continues to increase its scale and contribution to the overall Group supported by long-term demand for specialist land, environmental and green infrastructure services.
In a volatile macro environment, the Group has executed well, maintained commercial discipline and remains well positioned for operating profit growth this year, guiding full-year adjusted diluted EPS of 52-55 cent."
Group Revenue - YTD
YTD FY26
€'m
YTD FY25
€'m
Variance
%
Underlying1
%
Constant Currency2
%
Ireland / UK
919.0
901.3
2.0%
5.0%
5.0%
Continental Europe
447.4
443.8
0.8%
1.7%
1.7%
Latin America
112.8
104.3
8.2%
8.0%
8.0%
Total Agriculture
1,479.2
1,449.4
2.1%
4.2%
4.2%
Living Landscapes
150.0
137.2
9.3%
5.0%
13.2%
Total Group
1,629.2
1,586.6
2.7%
4.3%
5.0%
Total Group (excl Crop Marketing)
1,523.0
1,471.2
3.5%
5.3%
6.1%
1 Excluding currency movements and the contribution of acquisitions
2 Excluding currency movements
Agriculture:
Ireland and the UK revenue increased 2.0% YTD (5.0% constant currency) to €919.0m, supported by a good Q3 performance, with reported revenue up 2.2% (Q3 FY26: €481.0m). Underlying volumes YTD are broadly in line with the prior year, with pricing growth of 5.3% partly offset by a 3.1% currency headwind.
Sustainable Agronomy: Q3 activity was strong, supported by a larger UK winter cropping area, with winter wheat up c.4% year-on-year to c.1.7m hectares. Good crop establishment supported plant protection demand through the key spring application period although dry conditions towards the end of Q3 and into Q4 resulted in less disease pressure. Fertiliser revenue reflected higher raw material pricing, improved volumes and some earlier purchasing as farmers sought to manage inventory and price volatility. Seed sales remained lower year-on-year, with farmers increasing the use of saved seed and managing input spend in a market where input inflation has outpaced output price growth.
Soil Nutrition: Strong revenue growth was primarily pricing-led, with average fertiliser pricing up c.12% YTD, reflecting tighter global raw material supply, higher production and import costs, CBAM-related pricing effects and continued global price volatility due to the Middle East conflict. Volumes are behind prior year primarily driven by the UK as higher prices and on-farm economics moderated purchasing behaviour.
Animal Nutrition: Feed demand has remained strong YTD. Overall volumes are marginally ahead of a strong prior year comparative. John Thompson & Sons Limited, the Group's 50%-owned animal feed manufacturing associate, delivered a solid YTD performance.
Continental Europe reported revenue of €447.4m YTD, an increase of 0.8% (1.7% constant currency) with Q3 growth of 4.2% (Q3 FY26: €213.5m). Excluding crop marketing, YTD revenue increased by 3.9% to €341.2m, supported by volume growth of 3.6%, pricing benefit of 1.7% offset by negative currency movements of 1.4%.
In Poland, revenue is behind prior year with performance reflecting a more measured purchasing environment against a strong prior-year comparative, with on-farm demand influenced by affordability, prolonged dry cold winter conditions into the spring and a continued focus on input efficiency. The total cropping area is expected to be broadly in line with the prior year at c.8.9 million hectares.
In Romania, revenue growth was supported by stronger demand across key input categories, reflecting the continued rotation towards winter cropping following recent drought-affected seasons, improved crop establishment and a more active in-season application period. Customer purchasing remained prudent, with credit availability a consideration in certain regions and demand weighted towards cost-effective product choices. Combined winter and spring plantings are expected to be in line with last year at c.8.3 million hectares.
Latin America delivered revenue of €112.8m YTD, an increase of 8.2% on a reported basis year-on-year (8.0% constant currency). Underlying YTD performance was supported by volume growth of 3.1% and pricing of 4.9%, with continued growth in Controlled Release Fertiliser and Biological products partially offset by lower volumes in Physiological and Nutrition products. Brazil's crop outlook remains positive, with expanded soybean planting and strong production forecasts supporting demand for crop inputs. Farmer purchasing however remains selective, reflecting lower crop pricing, margin pressure and a more cautious credit environment across the sector. Currency movements YTD in the Brazilian Real had a limited translational impact on reported euro results during the period.
Living Landscapes:
Living Landscapes delivered strong YTD revenue growth of 9.3% to €150.0m, with Q3 revenue up 3.0% to €63.9m. This reflects good underlying growth of 5.0% YTD and acquisitions contributing 8.2% YTD, demonstrating continued progress in scaling the platform and increasing its contribution to Group earnings.
Underlying performance was led by Sports, which benefited from improved spring activity levels and robust demand across the businesses. Environmental performance was primarily driven by prior year acquisitions, while underlying activity was supported by continued demand for specialist advisory and project services in the UK and Irish markets. The timing of contract awards in certain sectors and markets, however, marginally impacted Q3 performance. Landscapes continued to benefit from solid demand for green infrastructure products and amenity products, reflecting positive long-term structural trends. Performance in the period was subdued somewhat by a more condensed tree planting season driven by mild and relatively dry conditions.
During the period we continued our investment in the Living Landscapes organisational structure, facilities and IT systems to support the longer-term organic growth of the business.
Capital Markets Day:
Origin will host a Capital Markets Day for investors and analysts on 17 November 2026 in London, to provide an update on the Group's strategy, capital allocation framework, medium-term growth priorities, and associated financial and operational targets across Agriculture and Living Landscapes.
Registration details are available on the Origin website at: https://originenterprises.com/investors/capital-markets-day-2026/.
ENDS
Enquiries
Origin Enterprises plc
Colm Purcell
Chief Financial Officer
Tel:
+353 (0)1 563 4900
Brendan Corcoran
Head of Investor Relations and Group Planning
Tel:
+353 (0)1 563 4900
Goodbody (Euronext Growth (Dublin) Adviser)
Jason Molins
Tel:
+353 (0)1 641 9278
Davy (Nominated Adviser)
Anthony Farrell
Tel:
+353 (0)1 614 9993
Berenberg (Corporate Broker)
Clayton Bush
Tel:
+44 (0)20 3207 7800
FTI Consulting (Communications Advisers)
Jonathan Neilan / Patrick Berkery / Conor Pierce
Tel:
+353 (0)86 602 5988
About Origin Enterprises plc
Origin Enterprises plc champions sustainable land use through technically-led solutions, empowering our customers to enrich their land so it can achieve its true potential. The Group has leading market positions in Ireland, the United Kingdom, Brazil, Poland and Romania, and is listed on the Euronext Growth Dublin market and the AIM market of the London Stock Exchange.
Euronext Growth (Dublin) ticker symbol: OIZ
AIM ticker symbol: OGN
Website: www.originenterprises.com
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