Galliford Try Holdings Plc · LSE:GFRD
Galliford Try — Investor Presentation (September 2026)
40 slides from Galliford Try's investor presentation, Sep 17, 2026
Slide 1: Investor Presentation
Investor Presentation Consistent, sequential and profitable growth September 2026 V1 17.09.26
Slide 2: Agenda
Agenda Full year results to 30 June 2026 Business overview Financial review Sustainable Growth to 2030 Q&A Bill Hocking Kris Hampson Chief Executive Chief Financial Officer 2
Slide 3: Our engine for Sustainable Growth: Focused risk management
Our engine for Focused risk Sustainable Growth management Embedded culture of discipline and risk awareness that Assessing and managing risks and uncertainties is the drives a high-quality order book and selective bidding. central element of our process and business strategy. Board Robust approval f
Slide 4: One of the UK's leading construction groups
One of the UK’s leading construction groups Environment Infrastructure Defence Custodial & Water Tech & Energy and Secure Education Commercial FM Health PRS and Asset Intelligence Digital Investments Affordable Homes & Fire Security infrastructure 4
Slide 5: Building, Specialist Services, Infrastructure
Building Specialist Services Infrastructure Environment (Water) § Education § Investments § Roads § Asset Creation § Health § Digital Infrastructure § Bridges § Design services § Defence § Facilities Management § Public realm § Capital and Asset Maintenance § Custodial § Active and passive fire § Mu
Slide 6: Our clients
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Slide 7: Sustainable Growth Strategy targets
Sustainable Growth Strategy targets Excellent progress against 2030 objectives; confident outlook Grow revenue Grow our specialist Re-enter the Leverage our Continue to grow and margin in businesses Affordable geographical and earnings, capital our three core in higher margin, Homes client footprint
Slide 8: Our sustainability commitments
Our sustainability commitments Environment: carbon | biodiversity | resources of our directly- reduction in Scope 1 and 91% Net zero by 2030 within 55% 2 carbon emissions since 99% of our company car fleet is electric/plug-in hybrid. purchased electricity is from renewable 2030 our operations and by
Slide 9: Financial review
Financial Kris review Hampson Chief Financial Officer The Rise, Cardiff 9
Slide 10: Strong momentum delivers sixth year of profitable growth
Strong momentum delivers sixth year of profitable growth £1.93bn +3.0% 3.5% +53bps £55.9m +24.2% 42.4p +23.1% Revenue Divisional adjusted Adjusted profit Adjusted basic (FY25: £1.88bn) operating margin1,2 before tax1 earnings per share1 (FY25: 3.0%) (FY25: £45.0m) (FY25: 34.4p) 23.5p +23.7% £216.2m
Slide 11: Broad based progress across the income statement
Broad based progress across the income statement Commercial discipline and operational execution drive growth § Six consecutive years of revenue and profit growth. FY26 FY25 Var § Revenue up 3.0% - ahead of expectations. Revenue (£m) 1,931.1 1,875.2 +3.0% Adjusted operating profit (£m) 49.5 40.6 +21
Slide 12: Building division
Building division Strong margin progression and confident outlook High-quality order book Health FY26 FY25 Var £21m Revenue (£m) 951.0 964.7 (1.4)% £333m FM Defence £711m Adjusted operating profit (£m) 33.1 28.1 +17.8% £334m Adjusted operating margin (%) 3.5 2.9 +57bps £2.7bn Commercial Order book (
Slide 13: Infrastructure division
Infrastructure division Strong margin growth across Environment and Highways High-quality order book FY26 FY25 Var Revenue (£m) 971.6 902.5 +7.7% Adjusted operating profit (£m) 34.3 27.4 +25.2% £519m Highways Adjusted operating margin (%) 3.5 3.0 +49bps Environment (National Highways, Local Authorit
Slide 14: Strong and straightforward balance sheet
Strong and straightforward balance sheet Excellent cash position and growing net assets § Robust cash position. Balance sheet £m 30 Jun 2026 30 Jun 2025 • 12-month average month-end cash of £216.2m, up 21.0% from FY25. Intangible assets & goodwill 105.2 97.0 • Year-end cash of £259.0m, up 9.0% on Ju
Slide 15: Consistent cash conversion enables capital allocation
Consistent cash conversion enables capital allocation 100% cash conversion FY26 cash bridge 3-year aggregated cash bridge Trading inflow Capital allocation Trading inflow Capital allocation 320 £62.3m outflow £153m outflow £39.5m £102.9m 6.4 300 56.1 0.9 400 13.6 (8.1) (1.1) 380 5.1 280 360 138.7 (1
Slide 16: Capital allocation model
Capital allocation model Disciplined and consistent policy driving current and future EPS growth Sustainable and growing Profit growth to 2030 dividends delivers capital allocation optionality M&A + organic investments @target IRRs and/or share buybacks Investing for growth Shareholder returns § Abi
Slide 17: Bolt-on M&A opportunities
Bolt-on M&A opportunities Disciplined approach to M&A based on successful experience Strategic criteria Active pipeline: bolt-on, higher margin specialist businesses complementary to our existing Existing or adjacent capabilities and closely aligned to sectors in which we are already established. se
Slide 18: Strong performance
Strong performance Six years of consistent, sequential growth; confidence in delivering 2030 targets FY26 revenue +3.0% >£2.2bn 1,931 FY26 adjusted PBT +24.2% FY26 adjusted EPS +23.1% TSR 413% 1,764 1,875 1 July 2020 to 30 June 2026 1,394 55.9 42.4 1,125 1,237 45.0 34.4 £m 29.6 £m 35.0 § 12 half per
Slide 19: Sustainable Growth to 2030
Sustainable Bill Growth to Hocking 2030 Chief Executive Faifley Community Campus, West Dunbartonshire 19
Slide 20: Margin improvement
Margin improvement Divisional adjusted operating margin 4.0% Divisional adjusted Higher operating margin margin work Operational (Specialist 3.5% Better contracting improvement (quality, Services, Investments Volume growth efficiency, and affordable environment digital & tech) homes) & leverage FY26
Slide 21: Attractive markets with structural growth
Attractive markets with structural growth Volume growth and leverage Environment Highways Energy UK Infrastructure 10-Year Strategy £104bn £43bn £75bn § UK Government's Clean Power 2030 confirms major § Record investment of £104bn approved by § £27bn Road Investment Strategy (RIS 3) Action Plan - c£
Slide 22: Record, high-quality £4.3bn order book
Record, high-quality £4.3bn order book Volume growth and leverage Order book Work secured position gives strong 92% Repeat clients for FY26 39% by division future visibility (FY25: 93%) £4.3bn Building 61% 90% Infrastructure 91% of our work is in frameworks 62% (FY25: 90%) 44% 5% Order book AMP9, 10
Slide 23: Winning work based on quality over price
Winning work based on quality over price Better contracting environment Order book by procurement Example of scoring route over time criteria from 2027 Management 15% Project delivery 15% Multi-stage negotiation 45% 20%-30% SHEQ 10% 37% 17% Sustainability and carbon 8% 70%-80% FY26 Target/cost plus
Slide 24: Driving quality and efficiency
Driving quality and efficiency Operational improvements BIM and 5D models Digital rehearsals Precision technology Digital design automation AI and machine Hydrogen power Modern Methods learning generators Robotics of Construction 24
Slide 25: Why we target frameworks
Why we target frameworks Frameworks aligned to strategic direction Infrastructure § Improved risk allocation. § Established and well-understood T&Cs. § Long-term visibility and better strategic Building planning. § Long-term client relationships. § Continuous improvement. 91% of our work is Adjacent
Slide 26: Excellent water position
Excellent water position Higher margin growth AMP7/8 frameworks (Operates across the UK) FY20 8 8 FY21 8 8 FY22 19 9 18 46 FY23 20 11 18 49 FY24 21 13 20 54 FY25 21 14 20 55 FY26 21 15 22 58 13 We are working with all of the UK’s major water and sewerage companies. Average number of consecutive year
Slide 27: End-to-end water capability
End-to-end water capability Higher margin work with major demand A 3 Coagulation & 4 G Drone Surveys Access Metal Works 2 Pre-treatment Flocculation Clarification (DAF/ Settlement) and Scanning 1 F Flow Control Raw Water Abstraction & Screening D Pipe Specials E CCTV 5 Filtration B Motor Control Cen
Slide 28: Summary and outlook
Summary and outlook Six years of consistent delivery; on track Adjusted PBT up 24.2% for 2030 £55.9m £45.0m § Further progress towards our 2030 targets. £35.0m £20.6m £22.4m § Disciplined risk management, careful project £12.4m selection and quality delivery underpin our £20.5m £24.7m £4.6m £7.8m £1
Slide 29: Appendices
Appendices 1. Segmental analysis 2. Video library 3. Better contracting environment 4. Why we target frameworks 5. Contract types 6. Investment Case 7. Our people 8. Our sustainability commitments 29
Slide 30: Segmental analysis
Appendices 1. Segmental analysis Building Infrastructure Combined Building Investments Central Total & Infrastructure £m £m £m £m £m £m Revenue 951.0 971.6 1,9226 8.5 - 1,931.1 Adjusted operating profit/(loss) 33.1 34.3 67.4 (2.2) (15.7) 49.5 Adjusted operating margin (%) 3.5% 3.5% 3.5% - - 2.6% Net
Slide 31: Video library
Appendices 2. Video library Modern Methods of Modern Construction Water sector Methods of Peel Hunt Panmure Liberum interview with Construction interview with CEO Bill Hocking The Rise, Cardiff CEO Bill Hocking Annual Report (available in Our Fact October 2026) business Sheet 31
Slide 32: Better contracting environment – Benefits of Early Contractor Involvement
Appendices 3. Better contracting environment – Benefits of Early Contractor Involvement Single-stage procurement (1% of contracts) Design BID Construction No or limited contractor Contract involvement award Mature contracting environment Multi-stage negotiation (99% of contracts) Scope Design Price
Slide 33: Better contracting environment
Appendices 3. Better contracting environment The Construction Playbook is driving § A more mature contracting environment and co-operative approach to problem- solving and risk by promoting early engagement, transparency, and clear risk allocation between contracting authorities and suppliers. § A c
Slide 34: Why we target frameworks
Appendices 4. Why we target frameworks 91% Improved risk and favourable outcomes § Improved risk allocation: • Established and well-understood terms and conditions. Work in frameworks • Long-term client relationships. • Predictable behaviours. • Certainty in tendering and typically reduced cost of t
Slide 35: Contract type: multi-stage negotiation, early contractor involvement
Appendices 5. Contract type: multi-stage negotiation, early contractor involvement Order book procurement Target cost/cost plus: an agreed target cost plus our overhead and profit is agreed based on our initial estimate and builds in our overhead, profit, risk and inflation contingencies. Cost savin
Slide 36: Contract type: benefits of multi-stage negotiation
Appendices 5. Contract type: multi-stage negotiation, early contractor involvement Order book procurement Benefits of multi-stage negotiation § Improved buildability, programme, and construction risk through 45% earlier collaboration between designers, contractor and supply chain. § Improved innovat
Slide 37: A compelling investment
Investment Case 6. A compelling investment A compelling investment High-quality business operating in robust markets generating growing returns Robust market Rigorous risk opportunity management Excellent position in chosen sectors. Embedded culture of assessing and managing risk. Non-cyclical deman
Slide 38: Our people
Appendices 7. Our people 4,300+ 85% 34 employee employees regional bases advocacy score 45 414 32,374 career moves promotions training days internally 22 10.4% No1 Career Paths with in early careers for graduates (graduates, apprentices over 200 roles and trainees) and apprentices 38
Slide 39: Our sustainability commitments
Appendices 8. Our sustainability commitments Strategic Sustainability FY25 FY26 Ambition priorities pillars Health and Lost Time Frequency Rate 0.09 0.17 No harm safety Accident Frequency Rate 0.03 0.06 No harm Progressive culture Early careers as a % of total employees 10.1% 10.4% >9.0% Our people
Slide 40: Disclaimer
Disclaimer This document contains statements that are, or may be deemed to be, occurrence of the events expressed or implied in any forward-looking “forward-looking statements” which are prospective in nature. These statements in this document will actually occur. You are cautioned not forward-looki
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