News report
📈 Stocks
📊 Neutral
🌍 United Kingdom
THG Revenue Climbs 7.2% as Adjusted EBITDA More Than Doubles in H1 2026
THG reports robust H1 2026 growth driven by a 57% surge in Myprotein unit volumes and expansion in its Beauty division, as management reiterates positive full-year free cash flow guidance.
Impact
10/10
💡 Key Takeaways
- Myprotein branded unit volumes jumped 57% to 58.5 million, cementing its position as a key growth driver.
- Restructuring efforts and the demerger of THG Ingenuity have successfully shifted the group toward a capital-light operating model.
- Management expects revenue growth to accelerate to 6%–7% in the fourth quarter of 2026.
- The company is targeting a net debt leverage of approximately 1x by the end of 2027, with potential for a net cash-positive position.
📋 Executive Summary
THG Plc reported a strong first half for 2026, with revenue rising 7.2% to £828.7 million and adjusted EBITDA more than doubling to £42.8 million. The company successfully pivoted to a capital-light model following the Ingenuity demerger and remains on track to meet its full-year free cash flow target of £25 million to £35 million.
📊 Sentiment Analysis
Sentiment
📊 Neutral
Impact Score
10/10
Region
🌍 United Kingdom
Asset Class
📈 Stocks
❓ Frequently Asked Questions
THG is focusing on its core Nutrition and Beauty divisions, leveraging an omni-channel approach, AI-driven social commerce, and a simplified, capital-light business structure.
📰 Source
📅 Originally published:
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