Weir FY profits grow amid strong mining demand
By Iain Gilbert
Date: Wednesday 04 Mar 2026
(Sharecast News) - Engineering firm Weir Group said on Wednesday that both profits and margins had expanded in the 12 months ended 31 December as rising mining activity drove growth across the business.
Weir said orders had risen 7% to £2.59bn, supported by minesite expansions, debottlenecking projects and increased technology adoption. Original equipment orders were flat, but up 6% on an underlying basis excluding large contracts, while aftermarket orders climbed 8% on high activity levels and recent acquisitions.
Revenues increased 6% to £2.56bn, with OE revenue up 2% and aftermarket revenue rising 8%, while adjusted operating profits advanced 15% to £518m, lifting Weir's adjusted operating margin to 20.2%, up 150bps year-on-year.
Free operating cash conversion came in at 92%, within guidance, while net debt stood at 1.9x EBITDA following recent M&A activity. Return on capital employed was 17.9%, reflecting acquisition spend.
Weir also said it had made significant strategic progress during the year, establishing its software solutions arm through the acquisitions of Micromine and Fast2Mine, strengthening its North American footprint with Townley, and accelerating ESCO's go‑direct strategy in Chile via its ESEL acquisition.
Looking to 2026, Weir expects constant‑currency growth in revenue, operating profit and margins, supported by further brownfield expansion, strong activity levels and continued growth in mining software.
Reporting by Iain Gilbert at Sharecast.com
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