REG - Origin Enterprises - Q1 Trading Update

Origin EnterprisesAnnouncement

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RNS Number : 2602I  Origin Enterprises Plc  20 November 2025

Origin Enterprises plc

 

Q1 Trading Update

 

Solid Q1 performance with continued growth across Agriculture and strong
momentum in Living Landscapes

 

Dublin, London, 20 November 2025: Origin Enterprises plc ('Origin' or 'the
Group'), the international group shaping the future of sustainable land use,
today issues its first quarter Trading Update for the three months ended 31
October 2025 ('Q1 FY26').

 

The Group is also hosting its Annual General Meeting ('AGM') later today, with
further details available at https://originenterprises.com/investors/agm.

 

Financial and Operational Summary

·    Group Revenues increased 3.6% (5.3% excluding crop marketing) for
the quarter to €486.5 million (Q1 FY25: €469.4 million), with revenue
growth across both Agriculture (2.0%) and Living Landscapes (21.5%).

·     Agriculture

o  Agriculture volumes (excluding crop marketing) were ahead of Q1 FY25, with
good growth in Ireland and the UK, Latin America and Romania, partially offset
by lower activity in Poland.

o  Early planting has progressed well in all key markets and earlier sown
crops are now well established. The total planted area for winter crops is
expected to increase, including a slightly larger UK winter wheat area of
c.1.72 million hectares, compared to 1.65 million hectares planted last year.

o  While drilling is well advanced in key markets, farm sentiment remains
cautious due to the impact of low grain and oilseed prices globally and
consequently farmers are choosing a higher proportion of lower cost inputs for
both crop protection and farm-saved seed.

o  On-farm inventory levels remain low and farmers are adopting a
just-in-time approach to purchasing fertiliser, although raw material price
movements have seen order volumes rise in recent weeks.

·     Living Landscapes

o  Strong start to the year, with overall revenue up 21.5% (24.8% on a
constant currency basis), driven by organic growth and the benefit of recent
acquisitions.

o  Strong organic growth of 10.3%, with all three sectors, Sports, Landscapes
and Environmental, ahead of prior year.

·     Appointment of Mr John Hennessy as an independent Non-Executive
Director and Chair-Designate, effective 1 January 2026.

 

Sean Coyle, CEO, commented: "The Group delivered a positive start to the year,
with growth in both revenue and activity levels across our Agriculture and
Living Landscapes businesses. Subdued grain and oilseed prices are prompting
farmers to adopt more disciplined input strategies, aligning purchasing more
tightly with near-term on-farm requirements. In Agriculture, increased winter
cropping areas in the UK and Romania together with continued progress in Latin
America underpinned our Q1 performance and provide a solid foundation for the
year ahead.

 

Consistent with our strategy for Living Landscapes to be a key pillar of the
company's future growth, the division maintained its strong momentum,
delivering double-digit revenue growth in the period, driven by organic
expansion and recent acquisitions. Overall, the group is well positioned to
build on Q1 momentum, underpinned by a clear strategy, strong customer
relationships, and a focus on long-term growth."

 

Group Revenue

                                                                                 Constant Currency(2)

                                  Q1 FY26   Q1 FY25   Variance   Underlying(1)   %

                                  €'m       €'m       %          %
 Ireland / UK                     247.5     237.9     4.0%       7.0%            7.0%
 Continental Europe               138.2     142.6     (3.1%)     (2.6%)          (2.6%)
 Latin America                    52.5      49.1      6.9%       9.9%            9.9%
 Total Agriculture                438.2     429.6     2.0%       4.2%            4.2%
 Living Landscapes                48.3      39.8      21.5%      10.3%           24.8%
 Total Group                      486.5     469.4     3.6%       4.7%            5.9%

 Total Group (ex Crop Marketing)  444.9     422.5     5.3%       6.5%            7.9%
 ( )
 (1) Excluding currency movements and the contribution of acquisitions

 (2) Excluding currency movements
 ( )

 

Agriculture:

 

Ireland and the UK recorded an increase in revenues of 7.0% on a constant
currency basis in Q1 with volumes up 3.9% and pricing increasing by 3.1%.

 

Sustainable Agronomy

The UK recorded its earliest harvest in almost two decades in 2025. Early
field clearance and dry autumn conditions supported an accelerated start to
drilling and good crop establishment across most regions. The winter wheat
area is currently estimated to be 1.72 million hectares, up from 1.65 million
hectares last year, and a larger oilseed rape area. Total autumn/winter and
spring plantings for the FY26 crop year are projected to be largely in line
with the prior year. Following lower yields in recent harvests and pressure on
grain and oilseed prices, growers are adopting a disciplined approach to input
spend, prioritising proven, cost-effective agronomic solutions. Improved
planting progress and early crop development provide a solid platform for the
year ahead.

 

Soil Nutrition

Business-to-business fertiliser volumes were marginally ahead versus Q1 FY25,
supported by low levels of inventory on-farm and at merchant level. A solid
order book, increased UK winter cropping and firming of raw material pricing
have contributed toward a positive near-term demand outlook, despite output
pricing pressures, as growers adopt a just-in-time approach to purchasing
fertiliser. Raw material prices have increased year-on-year, and are expected
to remain firm through Q2 ahead of the key spring application season,
reflecting tight global nitrogen and phosphate supply and the anticipated
impact of forthcoming EU Carbon Border Adjustment Mechanism measures on import
pricing.

 

Animal Nutrition

Origin's Feed Ingredients revenue was marginally lower year-on-year,
reflecting reduced market prices for feed raw materials. Volumes remained
broadly in line with the prior year, supported by steady underlying demand
across protein markets. The outlook for protein pricing remains robust,
however a reduction in dairy market prices may impact farmer spend in H2.

 

Continental Europe overall had a satisfactory start to the year, with good
crop establishment recorded in Poland and increased planting activity in
Romania. The outlook for both markets remains positive, supported by stable
agronomic conditions, though farmer purchasing behaviour is expected to remain
selective, with product mix influenced by relative input and output pricing.

 

Underlying volumes in agronomy services and crop inputs were in line with
prior year (excluding crop marketing). In Romania, the business saw good
volume growth, supported by a good harvest and an increase in winter planted
area of c.6% versus the prior year, as farmers continue to drill more winter
crops to mitigate against drought risk. In Poland, volumes were lower than the
prior year, primarily reflecting higher fertiliser prices and more measured
purchasing activity, amid softer output pricing.

 

Latin America delivered another solid start to the year, with underlying
volumes increasing by 3.4%. Soybean planting recovered well through the period
and is now tracking ahead of Q1 FY25, with c.49 million hectares expected to
be drilled - an increase of approximately 4% on last season. While lower
soybean prices continue to temper overall input spend, activity levels remain
stable, with demand focused on core nutrient and crop protection categories.
The controlled-release fertiliser range delivered impressive growth during the
period, and our F1rst Agbiotech business is maintaining positive momentum as
it continues to scale.

 

Living Landscapes:

 

Living Landscapes delivered a strong start to the year, with revenue up 24.8%
on a constant-currency basis. Growth was driven by a 10.3% organic increase
and a 14.5% contribution from recent acquisitions. Revenue growth was achieved
across all sectors of the business, Sports, Landscapes and Environmental.
Performance in Sports and Landscapes was largely driven by organic growth,
reflecting sustained customer demand and continued expansion of our market
reach, while performance in Environmental continues to benefit from prior-year
acquisitions.

 

We continue to maintain a robust pipeline of M&A opportunities across
these sectors, reflecting our strategic focus on identifying high quality
businesses that complement our existing capabilities and give us competitive
positions in attractive markets.

ESG

 

Origin continues to align its strategy with the growing demand for sustainable
land use solutions across both Agriculture and Living Landscapes. The Group is
evolving its operating model to deliver practical, science-based products and
services that help customers produce high-quality food, manage landscapes
responsibly, and enhance our environment. Internally, we continue to make good
progress on our carbon transition objectives and our approved Science-Based
Targets.

 

Appointment of Chair Designate

 

On 11 November 2025, the Group announced the appointment of Mr John Hennessy
as an independent Non-Executive Director and Chair-Designate, effective 1
January 2026. John will succeed Mr Gary Britton as Chair following the
announcement of our half year results at the beginning of March 2026. John
will work closely with Gary and the Board to ensure a smooth transition of
Board leadership. An experienced Irish plc Chair, John brings extensive
leadership and governance experience across both public and private companies,
and legal and financial expertise from his time as a Senior Counsel at the Bar
of Ireland and as a Partner at Arthur Andersen.

 

Current Outlook

 

Origin will provide a further update on cropping status and farming activity
ahead of the Group's main trading season, at the time of our Interim Results
announcement in March 2026.

 

AGM

 

Origin is holding its Annual General Meeting ('AGM') today at 11:00am
(UK/Ireland time), at The InterContinental, Simmonscourt Road, Ballsbridge,
Dublin 4. Further details regarding the Annual General Meeting are available
at https://originenterprises.com/investors/agm
(https://originenterprises.com/investors/agm) .

 

ENDS

 

 

Enquiries

 

 Origin Enterprises plc
 Colm Purcell
 Chief Financial Officer                      Tel:  +353 (0)1 563 4900

 Brendan Corcoran
 Head of Investor Relations                   Tel:  +353 (0)1 563 4900

 Goodbody (Euronext Growth (Dublin) Adviser)
 Jason Mollins                                Tel:  +353 (0)1 641 9141

 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            Tel:  +353 (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 (http://www.originenterprises.com)

 

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