Wilmington (WIL) H1 2026 earnings summary

Executive summary

• Ongoing revenue increased 17% year-over-year to £47.7m, with organic growth of 4%.

• Repeat revenues represent 73% of ongoing revenues, with organic recurring revenues steady at 38%.

• Completed Conversia acquisition in December 2025, expanding international presence in GRC Data Privacy markets and contributing to revenue.

• Continued investment in proprietary RegTech platform and AI capabilities, with five brands now live.

• Interim dividend increased by 3% to 3.10p per share.

Financial highlights

• Ongoing adjusted EBITA increased 9% to £10.4m; ongoing adjusted PBT steady at £11.8m.

• Statutory continuing revenue rose 12% to £47.7m; ongoing revenue up 17% to £47.7m.

• Ongoing adjusted basic EPS flat at 9.92p; statutory basic EPS fell 18% to 2.72p.

• Net debt at £65.0m as of 31 Dec 2025, reflecting Conversia acquisition outflow.

• Operating cash conversion at 70% (HY25: 72%).

Outlook and guidance

• FY26 trading remains in line with market expectations, supported by a strong contracted order book for H2.

• Forward visibility improved by Conversia acquisition; strong cash generation expected to reduce leverage.

• By year-end, debt leverage expected to be 1.75x EBITDA.

• Focus remains on organic investment and targeted M&A to drive growth.