333体育平台官网

Strong first half performance from earnings-based businesses

On track for full year expectations

Leo Quinn, 333体育平台官网 Group Chief Executive, said: 鈥淲e continue to deliver from the scale and breadth of our lower risk order book, which, during this period of high inflation and interest rates, underpins the financial results reported today and our expectations for the full year.

鈥淟ooking beyond 2023, we have positioned 333体育平台官网 strongly with unique capabilities and a sector-leading balance sheet, to capitalise on national plans to transform critical infrastructure, particularly in the energy and transport markets. This provides the Board with confidence in both profitable managed growth and in our capacity to deliver significant future shareholder returns.鈥�

Strong first half performance with continuing momentum from earnings-based businesses

• Revenue up 9% to 拢4.5 billion (2022: 拢4.1 billion)
• Underlying profit from operations (PFO) from earnings-based businesses up 12% to 拢95 million (2022: 拢85 million)
• Group PFO down 6% due to timing of disposals and lower Infrastructure Investments profit
• Underlying profit before tax up 13% and underlying EPS up to 13.0 pence per share (2022: 12.9 pence)

Geographically and operationally diversified portfolio providing resilience听

• Construction Services: PFO up 33% to 拢65 million with margin increased to 1.7% (2022: 1.4%)
• Support Services: PFO 17% lower with margins at 6.5% (2022: 7.2%), full year expected towards top of 6-8% range
• Infrastructure Investments: Directors鈥� valuation maintained at 拢1.3 billion (FY 2022: 拢1.3 billion)

Balance sheet strength and consistent cash flow supporting shareholder returns听

• 拢150 million share buyback on track to complete in Q4
• 拢58 million of total dividends to be paid in 2023, with the half year dividend maintained at 3.5 pence per share
• Average net cash of 拢695 million (FY 2022: 拢804 million)

Large, lower risk order book and unique capabilities give confidence for future returns

• 拢16.4 billion order book underpins short to medium term outlook (FY 2022: 拢17.4 billion)
• Unique capabilities aligned to significant future opportunities in UK energy and transport markets

On track for full year expectations

• Earnings-based businesses PFO expected to be broadly in line with 2022
• Growing pipeline giving confidence for the long term outlook

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Notes:

¹听Including share of joint ventures and associates

²听Before non-underlying items (Note 8)

³听Excluding non-recourse net borrowings, which comprise cash and debt ringfenced within certain infrastructure investments project companies

^#听Underlying profit from operations, or PFO, as defined in the Measuring our financial performance section

A reconciliation of the Group鈥檚 performance measures to its statutory results is provided in the Measuring our financial performance section

Read the announcement in full here.听

ENDS

Investor and analyst enquiries:
Jim Ryan
Tel. +44 (0)7858 368527
[email protected]

Media enquiries:
Antonia Walton
Tel. +44 (0)203 810 2345
[email protected]

Investor and analyst presentation:

A presentation to investors and analysts will be made at Numis, 45 Gresham Street, London, EC2V 7BF at 09:00 (GMT) on 16 August 2023. The webcast will be recorded and subsequently available at听Results, reports and presentations - Investors - 333体育平台官网 plc.

Notes to editors:

• 333体育平台官网 is a leading international infrastructure group with 25,000 employees driving the delivery of powerful new solutions, shaping thinking, creating skylines and inspiring a new generation of talent to be the change-makers of tomorrow.
• We finance, develop, build, maintain and operate the increasingly complex and critical infrastructure that supports national economies and deliver projects at the heart of local communities.
• Over the last 114 years we have created iconic buildings and infrastructure all over the world. Currently, we are working to deliver Hinkley Point C, the first UK nuclear power station in a generation; constructing the world-class arts and cultural facility, the Lyric Theatre, in Hong Kong; and designing, building, financing, operating and maintaining the Automated People Mover superstructure at the fifth busiest airport in the world, Los Angeles International Airport.