Harvest Technology plc – Interim Results
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 27 August 2026, Harvest Technology plc published its interim financial statements covering the six-month period ended 30 June 2026.
Revenue increased by 15.0% to €8.42 million (H1 2025: €7.32 million) driven by the retail and IT solutions segment, which grew by 23.3% to €6.75 million. In contrast, revenue from payment processing services declined by 9.7% to €2.02 million, as a 6% year-on-year increase in processing volumes was outweighed by price and margin deflation.
On the expenditure side, total operating costs rose by 9.0% to €8.08 million (H1 2025: €7.41 million), mainly due to higher cost of sales.
The Group registered an operating profit of €0.34 million compared to an operating loss of €0.09 million in the corresponding period last year. The EBIT margin stood at 4.0%. Excluding a depreciation and amortisation charge of €0.46 million, EBITDA more than doubled to €0.80 million (H1 2025: €0.34 million), which translates into an EBITDA margin of 9.5% (H1 2025: 4.7%).
After accounting for net finance costs of €0.07 million (H1 2025: €0.01 million), Harvest recorded a pre-tax profit of €0.27 million compared to a pre-tax loss of €0.09 million in the corresponding period last year. Overall, after a tax charge of €0.05 million, Harvest posted a net profit for the period of €0.22 million (H1 2025: net loss of €0.06 million).
The Statement of Financial Position as at 30 June 2026 when compared to the position as at 31 December 2025 shows that total assets decreased by 6.5% (or €1.37 million) to €19.5 million, which includes a cash balance of €0.75 million. Meanwhile, total liabilities decreased by 18.1% (or €1.36 million) to €6.17 million, which included lease liabilities of €1.01 million and minimal borrowings. Shareholders’ funds remained practically unchanged at €13.4 million.
Dividend
The Directors of Harvest declared a net interim dividend of €0.01 per share which is 33% lower than last year’s interim dividend of €0.015 per share. The dividend is payable on or around 18 September 2026 to all shareholders as of the close of trading on 1 September 2026.
Outlook
In their commentary, the Directors explained that the Group remains confident that revenue growth will continue in the second half of 2026, particularly in the retail and IT solutions segment, although profit before tax is expected to come under pressure. In the retail and IT solutions segment, management’s focus will be on securing new business both locally and internationally, targeting B2B and institutional clients, while in payment processing services management is concentrating on increasing processing volumes consistently on a year-on-year basis, enhancing business development efforts and improving fixed cost efficiency.
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.