• Double-digit revenue growth, led by Coffee, with record first half revenue of $1.1bn
• Successful production diversification and pricing strategies contained the impact of US tariffs
• Continued investment in new market expansion, marketing, and additional D&A

Breville Group Ltd reported a strong first half, with record revenue of $1.1 billion, up 10.1% year-over-year. This was driven by double-digit growth in the Global Product segment, led by the Coffee category and strong performance in direct markets and new geographies. The company successfully managed the impact of US tariffs, with the gross margin decline limited to 130 basis points through production diversification, pricing strategies, and growth in other markets. Breville continued to invest in strategic growth drivers, including new market expansion, marketing, and additional depreciation and amortization. This resulted in flattish EBIT growth, in line with the company's plan. The balance sheet remained healthy, with strong underlying cash flow and a net debt position of $43.6 million. The company declared an interim dividend of 19 cents per share, a 5.6% increase over the prior corresponding period.

Given the magnitude of the US tariff increases, Breville expects FY26 EBIT to be a slight increase over FY25 EBIT, assuming no significant change in economic conditions in the Group's major trading markets, no material supply chain interruptions or tariff increases, and taking into account the planned 2H26 investment levels.