Tessenderlo Group NV (LTS:0KCP)

Half Year 2026 Tessenderlo Group NV Earnings Call Transcript

Aug 27, 2026 / 01:00 PM GMT

Release Date Price: €23.88 (+10.66%)

Transcript

Key Points

Positve

Tessenderlo Group NV (XBRU:TESB) reported a strong first half with adjusted EBITDA of €176.8 million, a margin of nearly 12%, which is higher than the same period last year.
The Agro segment delivered a robust performance with a 17.3% increase in EBITDA (excluding FX effects), driven by higher sales volumes and successful price pass-throughs.
The company is making strategic progress with the acquisition of the Sinis fertilizer plant in Sweden, which is expected to ramp up in Q1 2027 and expand its sulfate of potash production.
Tessenderlo Group NV (XBRU:TESB) is investing in long-term growth through a $400 million capital increase in FMC Corporation, positioning itself as a cornerstone investor in a leading crop protection technology company.
The company has upgraded its full-year outlook, expecting adjusted EBITDA to be 5% to 15% higher than last year's €288 million, reflecting confidence in its diversified portfolio.
The new Akiolis biomass cogeneration plant was inaugurated, marking a major step in the company's decarbonization strategy and reducing fossil fuel consumption.

Negative

The Machines and Technologies segment (Picanol Group) experienced a decrease in revenues and margins due to a slowdown in weaving machine activities built out of Europe, impacted by competitive pressures from a weak Japanese yen.
The company announced the intention to close the Vilvoorde plant, resulting in an estimated €31 million restructuring charge recognized in EBIT adjusted items in H2 2026.
Geopolitical tensions, particularly in the Strait of Hormuz, have caused volatility and increased prices for key raw materials like sulfur and ethylene, creating supply chain challenges.
The acquisition of the Sinis plant will not contribute to results in the second half of 2026, as it is still being upgraded and is not expected to be fully functional until 2027.
The Biovalorization segment was negatively impacted by restructuring costs and an incident at the plant in Argentina, which is still being resolved and has delayed insurance proceeds recognition.
The company's net financial debt increased in the first half due to acquisitions and investments, including the purchase of the Brazilian minority stake and the FMC stake.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

TESB.BR - Tessenderlo Group NV
Half Year 2026 Tessenderlo Group NV Earnings Call
Aug 27, 2026 / 01:00PM GMT

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Presentation
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Unidentified_1 [1]
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Good morning and good afternoon, everyone. Welcome to our webinar for our half-year results. We will start with a presentation from our CEO, Luc Duck and our CFO, Miguel de Potter.

After that, we will give some analysts the chance to ask a live question. But for everyone else, if you have a question, please put it in the Q&A box and.

The end of the session, we will also try to answer as many questions as possible in the Q&A. So with that, I hand over to Luc.

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Unidentified_2 [2]
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Good morning, good afternoon.

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