Wynnstay Group Plc · LSE:WYN
Wynnstay — H1 2026 Earnings Presentation
32 slides from Wynnstay's earnings presentation, June 2026
Slide 1: Delivering On Our Strategy
GROWING TOGETHER Delivering On Our Strategy Interim Results Presentation For the half year ended 30 April 2026
Slide 2: Presentation team
Presentation team Alk Brand – CEO Rob Thomas - CFO • Joined the Group as CEO in October 2024 • Joined the Group as CFO in October 2023 • Global CEO and Board Director with deep expertise in transformation, • Financial and commercial leader with strong expertise in capital integration and growth in c
Slide 3: Highlights: Project Genesis is delivering
Highlights Project Genesis is delivering. Wynnstay is delivering Adjusted PBT up 11.7% versus H1 2025 and +59% versus H1 2024, demonstrating Profit Growth continued delivery of Project Genesis. Agricultural market pressures, labour and logistics inflation and energy cost Project Genesis increases mo
Slide 4: Highlights: Project Genesis is delivering
Highlights Project Genesis is delivering. Wynnstay is delivering H1 26 £304.1m H1 26 £42.3m H126 £6.0m H1 25 £304.9m H1 25 £42.0m H125 £5.4m Revenue Gross Profit Adjusted PBT £304.1m -0.03% £42.3m +0.7% £6.0m +11.7% H1 26 £10.9m H1 26 20.9p H1 26 5.9p H1 25 £10.3m H1 25 18.1p H1 25 5.7p Net Cash Adj
Slide 5: Segmental Performance
Segmental Performance Project Genesis benefits visible across the Group Feed & Grain Arable Stores 9.3% 23.7% 3.9% Revenue £145.5m v H1 25 Revenue £88.4m v H1 25 Revenue £70.2m v H1 25 0.4% 30.6% 9.3% Gross Profit £16.3m v H1 25 Gross Profit £8.7m v H1 25 Gross Profit £17.4m v H1 25 139% 33.2% 35.9%
Slide 6: Financial Review
Financial Review
Slide 7: Financial Review: Higher quality profitability and returns
Financial Review Higher quality profitability and returns HY26 (No HY26 HY25 Change % Change • Adjusted PBT increased 11% to £6.0m Genesis)* • Gross profit improved despite broadly Revenue £m 304.1 304.9 (0.8) -0.3% 326.7 flat revenue Gross profit £m 42.3 42.0 0.3 0.7% 43.8 • Genesis efficiencies of
Slide 8: Financial Review: Strong operating cash flows
Financial Review Strong operating cash flows Operating Cash Flow: +£12.4m Investing Cash Flow: -£11.8m • 128% cash conversion demonstrates strong 30.0 2.3 earnings quality despite inflationary 6.6 environment 25.0 1.3 12.4 (1.3) • £12.4m underlying operating cash flow (6.3) 20.0 9.7 generated (4.1)
Slide 9: Middle East Conflict
Middle East Conflict Wynnstay is now better positioned to manage market volatility Whilst recent market volatility created a modest benefit, Wynnstay’s exposure to commodity market movements is significantly lower than in previous cycles due to a disciplined and balanced purchasing strategy. Why the
Slide 10: Project Genesis Update
Project Genesis Update
Slide 11: Project Genesis Delivery Scorecard
Project Genesis Delivery Scorecard Delivering against the commitments made at launch Our Commitments Our Commitment Status Status Evidence Evidence of/ progress Progress Glasson Fertiliser fully integrated DELIVERED Single operating model and management structure Manufacturing facilities integrated
Slide 12: Project Genesis Update
Project Genesis Update We cannot control the market, but we can control Wynnstay EXTERNAL HEADWINDS: Beyond our control PROJECT GENESIS BENEFITS: Within our control Agricultural market pressures Simplified operating model and leaner structure Loss making assets exited Lower farm profitability in som
Slide 13: Wynnstay Strategy Genesis
Wynnstay Strategy Genesis Building on a stronger platform to deliver sustainable growth Adjusted PBT (£m) Medium Term Targets • Revenue Growth: 10% • Gross Profit Growth: 10% • Adj. Operating Margin: 2% Broker forecasts £11.0m • Adj. EPS Growth: 20% • RONA >10% £9.2m £10.0m • • Double share-of-walle
Slide 14: Wynnstay Strategy Genesis: share of wallet
Wynnstay Strategy Genesis Growing share of wallet through 7 core product categories A stronger Wynnstay platform allows us to deepen customer relationships, increase share of wallet and grow through the agricultural cycle Seed WHY THIS MATTERS Starts the Cycle More products per customer Stores & Gra
Slide 15: Strategic Growth & Development
Strategic Growth & Development
Slide 16: Feed & Grain: Building a higher quality business
Feed & Grain: Building a higher quality business LAST12 MTH FEED & GRAIN SNAPSHOT Revenue 51% Growth through integration, contracted £300m Of Group volumes and manufacturing efficiency Adjusted PBT £2.5m 26% Of Group RONA STRATEGIC GROWTH DRIVERS 6.7% GRAIN TRADING MANUFACTURED FEED INTEGRATED OFFER
Slide 17: Arable: Leveraging capacity & market leadership
Arable: Leveraging capacity & market leadership LAST 12 MTH ARABLE SNAPSHOT Revenue 25% Building market share from an enhanced £143m Of Group manufacturing platform Adjusted PBT £2.7m 28% Of Group RONA 6.1% FERTILISERS SEED MANUFACTURING EXCELLENCE OUR ADVANTAGE DELIVERS Avonmouth provides Astley re
Slide 18: Stores: Transforming agricultural retail
Stores: Transforming agricultural retail LAST 12 MTH STORES SNAPSHOT Revenue 24% Creating the UK’s first AI enabled £140m Of Group agricultural convenience retailer Adjusted PBT £4.6m 46% Of Group RONA NEW FORMAT Reviewing future store formats AI Generated concept image 8.8% Greater flexibility in s
Slide 19: Self Funding Growth
Self Funding Growth Significant opportunities to release capital and fund future growth WORKING CAPITAL OPPORTUNITY PROPERTY OPPORTUNITY Focused collections and credit Review the portfolio to identify £8m+ Aged debt reduction Estate review management optimisation opportunities Drive efficiency and i
Slide 20: Summary and Outlook
Slide 21: Summary and Outlook
Summary and Outlook Project Genesis is delivering change, Strategy Genesis is driving growth PERFORMANCE PROJECT GENESIS STRATEGY GENESIS BALANCE SHEET OUTLOOK H1 Adjusted PBT Delivering benefits Driving growth Strong Financial Position Confident • Lower cost base • Capacity expansion • Net Cash £10
Slide 22: Appendix
Appendix -
Slide 23: Wynnstay At A Glance
Wynnstay At A Glance The UK’s only integrated agricultural supplies and advice provider Scalable, integrated UK Agricultural Platform National footprint with strong regional positions 11 MANUFACTURING SITES Direct, wholesale, retail and online routes to market 51 STORES 7 Core product categories 811
Slide 24: The Wynnstay Business Model
The Wynnstay Business Model Our purpose is to be the supplier of choice for British farmers What makes Wynnstay An attractive investment different: A scalable, integrated UK Agricultural Platform opportunity: Unique route to market New simplified and integrated approach cost model Product portfolio
Slide 25: Wynnstay Group Plc Board of Directors
Wynnstay Group Plc Board of Directors A new Board to drive a new era of scale and growth Non-Executive Directors Executive Directors Wynnstay Group Plc Interim Results Presentation 30 April 2026 25
Slide 26: Wynnstay Executive Committee
Wynnstay Executive Committee The right team in place to deliver Project Genesis Alk Brand CEO ExCo Team Kevin O’Leary Stuart Role to be Role to be Rob Thomas Ceri Henfry People & Culture Managing Director Dolphin recruited recruited CFO Arable & Managing Director Managing Director Managing Director
Slide 27: Wynnstay Operating Model
Wynnstay Operating Model How it Works in Practice • Commercial leaders accountable for performance delivery • Central functions provide expertise, governance and consistency, and support delivery • Specialist capability built once and leveraged across Wynnstay • Structure designed to strengthen resi
Slide 28: Financial Review: Income Statement
Financial Review Income Statement £'000s HY26 HY25 Revenue Feed & Grain 145,544 160,509 Arable 88,397 71,445 • Strong growth in Arable offset lower Feed & Grain and Stores revenues Stores 70,160 72,988 Group revenue broadly unchanged at £304.1m 304,101 304,942 Gross Profit • Arable benefited from in
Slide 29: Financial Review: Balance Sheet
Financial Review Balance Sheet £’000s HY26 HY25 Tangible & intangible fixed assets 46,571 44,544 • Net assets remained robust at £134.9m Net cash increased to £10.9m despite Right of use assets 16,531 18,108 higher investment activity Investments in property & joint ventures 5,845 6,440 Net working
Slide 30: Supplementary Information: Segmental Track Record
Supplementary Information Segmental Track Record 90.0 800.0 80.0 700.0 70.0 600.0 60.0 Revenue 500.0 Gross Profit 50.0 £m 400.0 £m 40.0 300.0 30.0 20.0 200.0 10.0 100.0 - 2025 - Feed & Grain Arable Stores Group Feed & Grain Arable Stores Group 2024 2023 12.0 14.0 12.0 10.0 10.0 8.0 8.0 Adjusted 6.0
Slide 31: Supplementary Information: Market Data
Supplementary Information Market Data GB Milk price (p/litre) GB Deadweight lamb price (p/kg) GB Deadweight cattle price (p/kg) 50 1,000 800 45 900 700 40 800 700 600 35 30 600 500 25 500 400 20 400 300 15 300 200 200 10 5 100 100 - - - Nov-23 Nov-24 Nov-25 May-23 May-24 May-25 May-26 Aug-23 Feb-24
Slide 32: Supplementary Information: Market Data
Supplementary Information Market Data UK Nitrogen fertiliser price (£/T) London wheat price (£/T) Free range egg price (p/dozen) 600 250 165 Note: March 22 160 500 £915/T 200 155 400 150 150 145 300 140 100 200 135 100 50 130 125 - - 120 Nov-23 Nov-24 Nov-25 May-23 May-24 May-25 May-26 Aug-23 Feb-24