Harvest Technology plc - Full-Year Results

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.