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Harvest Technology plc – Full-Year Results

cyber

April 14, 2026

Market News
14 April, 2026
5 min read
Market News
14 April, 2026
5 min read

Following last week's article detailing the performance of the S&P 500 index in 2025, it is worth devoting time to review the developments across the European equity markers in my last article of the year.

Financial Performance

On 13 April 2026, Harvest Technology plc published the Annual Report and Financial Statements for the year ended 31 December 2025.

Revenue decreased by 8.0% to €18.2 million (2024: €19.8 million) driven by pricing pressures within the payment processing segment, as well as the conclusion of one-off retail and IT solutions contracts in 2024 which were not repeated in 2025.

On the expenditure side, total operating costs decreased by 7.2% to €16.7 million from €18.0 million in the previous year, as the lower cost of sales outweighed the increase in administrative expenses.

Excluding depreciation and amortisation charges of €0.89 million, EBITDA declined by 8.8% to €2.48 million, which translates into an EBITDA margin of 13.6% (2024:  13.7%). Operating profit decreased to €1.59 million from €1.83 million in the previous year and translates into an EBIT margin of 8.7% (2024: 9.2%)

After accounting for minimal net finance costs relating to lease agreements, Harvest recorded a pre-tax profit of €1.56 million compared to €1.79 million in 2024. Overall, Harvest posted a net profit of €1.04 million (2024: €1.11 million) which translates into a return on average equity of 7.70% (2024: 7.97%).

The Statement of Financial Position as at 31 December 2025 shows that total assets increased marginally by 1.3% to €20.9 million, including a cash balance of €2.0 million. Meanwhile, total liabilities increased by 8.4% (or €0.6 million) to €7.54 million, which included lease liabilities of €0.51 million while the Group remains free from any borrowings. The company’s equity base contracted by 2.4% (or €0.3 million) to €13.4 million.

Dividend

The Directors of Harvest resolved to distribute a final net dividend of €0.01 per share which will be paid on or around 20 May 2026 to all shareholders as at the close of trading on Wednesday 22 April 2026. When including the two interim dividends dividends paid in September and December 2025, the total net dividend attributable to the 2025 financial year amounts to €0.055, which is 27% lower than the previous year and translates into a payout ratio of 120%.

Outlook

The Board of Directors stated that the retail and IT solutions segment reported stronger results in Q1 2026 compared to the same period in 2025, with management focused on securing new business both locally and internationally, targeting B2B and institutional clients by leveraging the segment’s proprietary software, in-house technology expertise and partnerships with various suppliers particularly in the automation and security sphere.

The payment processing services segment continued to experience a challenging operating environment in the first three months of 2026. Whilst processing volumes increased slightly compared to 2025, margins decreased due to price competition. Looking ahead, management will focus on increasing processing volumes consistently on a year-on-year basis, enhancing business development efforts and improving fixed cost efficiency.

The Board expects that in 2026, Harvest will continue to deliver measured growth through the further development and optimisation of its existing business operations, supported by disciplined capital allocation and a continued focus on operational excellence.

The article contains public information only and is published solely for informational purposes. It should not be construed as a solicitation or an offer to buy or sell any securities or related financial instruments. No representation or warranty, either expressed or implied, is provided in relation to the accuracy, completeness or reliability of the information contained herein, nor is it intended to be a complete statement or summary of the securities, markets or developments referred to in this article. Rizzo, Farrugia & Co. (Stockbrokers) Ltd (“Rizzo Farrugia”) is under no obligation to update or keep current the information contained herein. Since the buying and selling of securities by any person is dependent on that person’s financial situation and an assessment of the suitability and appropriateness of the proposed transaction, no person should act upon any recommendation in this article without first obtaining investment advice. Rizzo Farrugia, its directors, the author of this article, other employees or clients may have or have had interests in the securities referred to herein and may at any time make purchases and/or sales in them as principal or agent. Furthermore, Rizzo Farrugia may have or have had a relationship with or may provide or has provided other services of a corporate nature to companies herein mentioned. Stock markets are volatile and subject to fluctuations which cannot be reasonably foreseen. Past performance is not necessarily indicative of future results. Foreign currency rates of exchange may adversely affect the value, price or income of any security mentioned in this article. Neither Rizzo Farrugia, nor any of its directors or employees accepts any liability for any loss or damage arising out of the use of all or any part of this article. Additional information can be made available upon request from Rizzo, Farrugia & Co. (Stockbrokers) Ltd., Airways House, Fourth Floor, High Street, Sliema SLM 1551. Telephone: +356 2258 3000; Email: info@rizzofarrugia.com; Website: www.rizzofarrugia.com © 2021 Rizzo, Farrugia & Co. (Stockbrokers) Ltd. All rights reserved. This article may not be reproduced or redistributed, in whole or in part, without the written permission of Rizzo Farrugia. Moreover, Rizzo Farrugia accepts no liability whatsoever for the actions of third parties in this respect.

This article was produced by Edward Rizzo, Director at Rizzo Farrugia, which is a company licensed to undertake investment services in Malta by the MFSA under the Investment Services Act, Cap. 370 of the Laws of Malta and a member of the Malta Stock Exchange. The company’s registered address is at Airways House, Fourth Floor, High Street, Sliema SLM 1551, Malta.

The article contains public information only and is published solely for informational purposes. It should not be construed as a solicitation or an offer to buy or sell any securities or related financial instruments. No representation or warranty, either expressed or implied, is provided in relation to the accuracy, completeness or reliability of the information contained herein, nor is it intended to be a complete statement or summary of the securities, markets or developments referred to in this article. Rizzo, Farrugia & Co. (Stockbrokers) Ltd (“Rizzo Farrugia”) is under no obligation to update or keep current the information contained herein. Since the buying and selling of securities by any person is dependent on that person’s financial situation and an assessment of the suitability and appropriateness of the proposed transaction, no person should act upon any recommendation in this article without first obtaining investment advice. Rizzo Farrugia, its directors, the author of this article, other employees or clients may have or have had interests in the securities referred to herein and may at any time make purchases and/or sales in them as principal or agent. Furthermore, Rizzo Farrugia may have or have had a relationship with or may provide or has provided other services of a corporate nature to companies herein mentioned. Stock markets are volatile and subject to fluctuations which cannot be reasonably foreseen. Past performance is not necessarily indicative of future results. Foreign currency rates of exchange may adversely affect the value, price or income of any security mentioned in this article. Neither Rizzo Farrugia, nor any of its directors or employees accepts any liability for any loss or damage arising out of the use of all or any part of this article. Additional information can be made available upon request from Rizzo, Farrugia & Co. (Stockbrokers) Ltd., Airways House, Fourth Floor, High Street, Sliema SLM 1551. Telephone: +356 2258 3000; Email: info@rizzofarrugia.com; Website: www.rizzofarrugia.com © 2021 Rizzo, Farrugia & Co. (Stockbrokers) Ltd. All rights reserved. This article may not be reproduced or redistributed, in whole or in part, without the written permission of Rizzo Farrugia. Moreover, Rizzo Farrugia accepts no liability whatsoever for the actions of third parties in this respect.

This article was produced by Edward Rizzo, Director at Rizzo Farrugia, which is a company licensed to undertake investment services in Malta by the MFSA under the Investment Services Act, Cap. 370 of the Laws of Malta and a member of the Malta Stock Exchange. The company’s registered address is at Airways House, Fourth Floor, High Street, Sliema SLM 1551, Malta.

On 13 April 2026, Harvest Technology plc published the Annual Report and Financial Statements for the year ended 31 December 2025.

Revenue decreased by 8.0% to €18.2 million (2024: €19.8 million) driven by pricing pressures within the payment processing segment, as well as the conclusion of one-off retail and IT solutions contracts in 2024 which were not repeated in 2025.

On the expenditure side, total operating costs decreased by 7.2% to €16.7 million from €18.0 million in the previous year, as the lower cost of sales outweighed the increase in administrative expenses.

Excluding depreciation and amortisation charges of €0.89 million, EBITDA declined by 8.8% to €2.48 million, which translates into an EBITDA margin of 13.6% (2024:  13.7%). Operating profit decreased to €1.59 million from €1.83 million in the previous year and translates into an EBIT margin of 8.7% (2024: 9.2%)

After accounting for minimal net finance costs relating to lease agreements, Harvest recorded a pre-tax profit of €1.56 million compared to €1.79 million in 2024. Overall, Harvest posted a net profit of €1.04 million (2024: €1.11 million) which translates into a return on average equity of 7.70% (2024: 7.97%).

The Statement of Financial Position as at 31 December 2025 shows that total assets increased marginally by 1.3% to €20.9 million, including a cash balance of €2.0 million. Meanwhile, total liabilities increased by 8.4% (or €0.6 million) to €7.54 million, which included lease liabilities of €0.51 million while the Group remains free from any borrowings. The company’s equity base contracted by 2.4% (or €0.3 million) to €13.4 million.

Dividend

The Directors of Harvest resolved to distribute a final net dividend of €0.01 per share which will be paid on or around 20 May 2026 to all shareholders as at the close of trading on Wednesday 22 April 2026. When including the two interim dividends dividends paid in September and December 2025, the total net dividend attributable to the 2025 financial year amounts to €0.055, which is 27% lower than the previous year and translates into a payout ratio of 120%.

Outlook

The Board of Directors stated that the retail and IT solutions segment reported stronger results in Q1 2026 compared to the same period in 2025, with management focused on securing new business both locally and internationally, targeting B2B and institutional clients by leveraging the segment’s proprietary software, in-house technology expertise and partnerships with various suppliers particularly in the automation and security sphere.

The payment processing services segment continued to experience a challenging operating environment in the first three months of 2026. Whilst processing volumes increased slightly compared to 2025, margins decreased due to price competition. Looking ahead, management will focus on increasing processing volumes consistently on a year-on-year basis, enhancing business development efforts and improving fixed cost efficiency.

The Board expects that in 2026, Harvest will continue to deliver measured growth through the further development and optimisation of its existing business operations, supported by disciplined capital allocation and a continued focus on operational excellence.