ACCSYS TECHNOLOGIES PLC - Preliminary Results

Accsys Technologies PLC delivered a strong FY2026 investor update, reporting significant progress across revenue growth, profitability, cash generation, and operational performance. Group revenue increased 20% on a like-for-like basis to €153 million, supported by a 21% rise in Accoya sales volumes and continued market share gains despite challenging global construction markets. Adjusted EBITDA nearly doubled to €21.2 million, with EBITDA margins expanding to 11.6%, while gross margins remained above the company’s strategic target at 30.9%. The North American joint venture, Accoya USA, achieved a major milestone by reaching EBITDA breakeven, driven by 60% volume growth and revenue increasing to €50.5 million. Accsys also strengthened its balance sheet, reducing leverage below 2x and generating free cash flow of €10.2 million, supported by improved operating cash flow conversion. The company continues to benefit from growing demand for sustainable, high-performance wood products, with Accoya gaining traction in premium residential, renovation, commercial, and architectural projects across Europe and North America. Management highlighted strong growth in Accoya Color, expanding specification activity among architects and designers, ongoing innovation supported by more than 300 patents, and operational efficiency improvements across its manufacturing network. Looking ahead, Accsys remains focused on executing its growth strategy, increasing capacity utilisation, expanding market share, enhancing margins, and delivering long-term shareholder value, while maintaining confidence that FY2027 trading will be in line with board expectations.