**Summary of Volution Group plcs Half-Year Results for the Six Months Ended 31 January 2026**
**Overview**
Volution Group plc, a leading international designer and manufacturer of energy-efficient indoor air quality solutions, reported strong first-half performance for FY26, with robust organic growth and margin expansion. The Group achieved total revenue growth of 21.7%, driven by organic growth of 4.2% (constant currency), inorganic growth of 16.4%, and a 1.1% favorable currency impact. Adjusted operating profit increased by 21.1% to £51.6 million, with margins slightly down to 22.6% due to the dilutive impact of the Fantech acquisition. The interim dividend was raised by 17.6% to 4.0 pence per share, reflecting confidence in the Groups prospects.
**Financial Highlights**
**Revenue**£228.7 million, up 21.7% (20.6% at constant currency).
**Adjusted Operating Profit**£51.6 million, up 21.1%.
**Adjusted Operating Margin**: 22.6%down 0.1 percentage points.
**Profit Before Tax**: £46.5 millionup 20.7%.
**Basic EPS**: 18.2 penceup 19.0%.
**Operating Cash Flow**£51.6 million, up 7.7%, with a cash conversion rate of 98%.
**Operational Highlights**
**Acquisitions**Completed the acquisition of AC Industries on 2 February 2026, strengthening the Groups position in Australasia and entering the gold and copper mining ventilation systems market.
**Organic Growth**All three regions (UK, Continental Europe, and Australasia) achieved organic revenue growth, with the UK up 3.8%, Continental Europe up 10.7% (5.3% at constant currency), and Australasia up 83.6% (87.8% at constant currency), primarily driven by the Fantech acquisition.
**Low Carbon Revenue**Increased to 72.1% of total revenue, reflecting continued growth in heat recovery and low-carbon solutions.
**Capex**£4.3 million, including investments in injection moulding capacity in the UK, metal fabrication in the Nordics, and facility expansion in North Macedonia.
**Regional Performance**
**UK**Revenue grew by 3.8% to £86.5 million, with adjusted operating profit up 6.2% to £22.7 million. Margins improved to 26.3% due to value engineering and operational excellence.
**Continental Europe**Revenue increased by 10.7% (5.3% at constant currency) to £75.4 million, with adjusted operating profit up 16.3% to £19.1 million. Margins rose to 25.3% due to low-carbon revenue growth.
**Australasia**Revenue surged by 83.6% (87.8% at constant currency) to £66.8 million, primarily due to the Fantech acquisition. Organic growth was 3.3% at constant currency. Adjusted operating profit increased by 75.3% to £13.6 million, with margins at 20.4%.
**Strategic Initiatives**
**Acquisition Strategy**The successful integration of Fantech and the acquisition of AC Industries highlight the Groups focus on inorganic growth.
**Management Strengthening**Continued to enhance regional management structures, with key appointments in the UK, Germany, and Group IT.
**Sustainability**Increased focus on low-carbon products and sustainability, with 72.1% of revenue from low-carbon solutions.
**Outlook**
The Group expects further strategic and operational progress in the second half of FY26, supported by regulatory tailwinds and market dynamics. Despite uncertainties in end markets, geographic diversity provides resilience. The Board anticipates adjusted earnings per share for FY26 to be at the top end of market forecasts (35.0p to 36.5p).
**Conclusion**
Volution Group plc delivered a strong first-half performance, underpinned by organic growth, strategic acquisitions, and operational excellence. The Group remains well-positioned to capitalize on regulatory tailwinds and market opportunities, with a focus on sustainability and long-term growth.