Future PLCs 2026 half-year results show a revenue decline of 8% to £349.1 million, with organic revenue down 6%, primarily due to pressures in programmatic advertising and eCommerce. Adjusted EBITDA decreased by 24% to £83.3 million, and adjusted diluted EPS fell by 22% to 46.4p. Despite these challenges, the company maintained strong cash generation with adjusted free cash flow of £91.1 million. Strategic initiatives, including AI-driven products like Future Optic and Signal, are gaining traction, and the acquisition of SheerLuxe strengthens their position in creator-led digital media. The company remains financially disciplined, focusing on net debt reduction and portfolio optimization. Guidance for FY 2026 remains unchanged, with expectations of mid to low single-digit organic revenue decline and an adjusted EBITDA margin of 25-27%.
| Financial Metric | HY 2026 (£m) | HY 2025 (£m) | Reported Variance (%) | Constant Currency Variance (%) | Organic Variance (%) |
|---|---|---|---|---|---|
| Revenue | 349.1 | 378.4 | (8) | (6) | (6) |
| Adjusted EBITDA | 83.3 | 109.8 | (24) | (22) | n/a |
| Adjusted EBITDA (%) | 24% | 29% | (5)ppt | (5)ppt | n/a |
| Adjusted Diluted EPS (p) | 46.4 | 59.7 | (22) | n/a | n/a |
| Adjusted Free Cash Flow (£m) | 91.1 | 111.5 | (18) | n/a | n/a |
| Net Debt (£m) | 314.1 | 276.4 | 14 | n/a | n/a |