Origin Enterprises, the Dublin-headquartered international agri-services group, has reported group operating profit of €100.7 million for the financial year ended July 31, 2026 (FY26) despite challenging market conditions.

This marks a 1.8% increase on the previous year, which the company said was supported by growth in Latin Amercia and its Living Landscapes division.

The trading update published today (Tuesday, September 22) shows group revenue increased by 0.4% to €2.1 billion on a reported basis.

However, profit before tax was down 1.2% from €79 million in FY2025 to €78.1 million.

Origin Enterprises

Origin's agriculture division saw operating profit decrease by 2.2% to €71.8 million.

Growth in Latin America partly offset a "softer performance" in Ireland, the UK and continental Europe, the company said.

The Living Landscapes business reported a 7.1% jump in operating profit to €17.7 million, representing 19.8% of overall operating profit (FY25: 18.4%).

This performance was driven by growth in sports and landscapes, along with the impact of acquisitions from the previous year in the environmental space.

Group operating margin decreased slightly to 4.2% (FY25: 4.3%), "reflecting lower margins in agriculture, partly offset by the increased weighting of the higher-margin Living Landscapes business".

Adjusted diluted earnings per share (EPS) of 53.51c was in line with full-year guidance and 0.4% ahead of prior year on a constant currency basis.

Year end net debt increased by €7 million to €77.8 million.

Free cash flow stood at €43.3 million (FY25: €61.5 million), representing free cash conversion ratio of 87.7%, ahead of the company's 80% target.

Origin’s chief executive officer, Sean Coyle said the group "delivered a strong FY26 performance despite a challenging operating backdrop".

"The benefits of our diversification strategy are increasingly evident.

"Living Landscapes now contributes 20% of operating profit and continues to expand in attractive higher-growth and higher-margin markets, improving the quality, resilience and consistency of group earnings.

"In agriculture, operating profit declined 2.2% to €71.8 million.

"Despite these headwinds, the business remained resilient, with growth in Latin America and a stronger contribution from animal nutrition partly offsetting softer performance across Ireland, the UK and continental Europe," he said.

Coyle said that over the last five years, Origin had delivered cumulative operating profit of €474 million, exceeding the €415 million target set out at its 2022 Capital Markets Day.

"We delivered an average cash conversion of 105%, ahead of our target of greater than 80%," he added.

Origin has proposed a final dividend of 14.15c per share, with the total FY26 dividend unchanged from last year at 17.30c.

The company will hold a capital markets day in London on November 17 where it will outline its "strategy and medium-term financial ambitions for the next phase of growth".