Breedon Group Reports Solid First Half Performance Amid Regional Diversification
Breedon Group (LON:BREE) delivered a solid first half of 2026, with revenue rising by 5% and like-for-like growth at around 3%. Underlying EBITDA remained flat year-over-year while the margin eased to 13.5%, driven largely by strong performance in Ireland and the U.S., which offset weakness in Great Britain's residential construction market. The company improved its free-cash outflow, reducing it from £25 million a year ago to about £15 million this half. Covenant leverage stood at 2.1 times, slightly down compared to last year. Breedon expects full-year net debt of around £650 million and plans capital expenditures between £125 million and £135 million. Management anticipates results in line with market expectations for the full year and is focusing on bolt-on acquisitions in Ireland and the U.S., where infrastructure, non-residential construction, and data-center demand are driving growth. The company also increased its interim dividend due to strong cash generation.
Topics: cash flow construction dividend increase EBITDA revenue growth