Van Elle Holdings Plc · LSE:VANL
Van Elle — FY2025 Earnings Presentation
17 slides from Van Elle's earnings presentation, July 2025
Slide 1: Total Foundation Solutions – Full Year Results 30 April 2025
TOTAL FOUNDATION SOLUTIONS. VAN ELLE HOLDINGS PLC FULL YEAR RESULTS - 30 APRIL 2025 Mark Cutler Chief Executive Officer Graeme Campbell Chief Financial Officer
Slide 2: Results Overview
RESULTS OVERVIEW • Resilient performance against a backdrop of macroeconomic uncertainty and market headwinds and the Building Safety Act • Canadian subsidiary is now treated as a discontinued operation • Revenue from continuing operations of £130.5m (FY24: £139.1m) • Underlying operating margin of
Slide 3: Our Markets
OUR MARKETS Revenue £52.0m £54.2m £23.8m % OF GROUP 40% 42% 18% 3 VAN ELLE HOLDINGS PLC FULL YEAR RESULTS 30 APRIL 2025
Slide 4: Financial Review – Income Statement
FINANCIAL REVIEW - income statement Restated UNDERLYING RESULTS 2025 2024 CONTINUING OPERATIONS £m £m Revenue 130.5 139.1 • Impact of challenging market conditions Gross profit 40.4 42.2 GM% 31.0% 30.3% – Revenue down 6% vs prior year EBITDA 13.9 14.5 • Further gross margin improvement through contr
Slide 5: Our Business
OUR BUSINESS General Piling Specialist Piling & Rail Ground Engineering Services Includes: FY25 FY24 FY25 FY24 FY25 FY24 £m £m £m £m £m £m Revenue 46.0 56.7 Revenue 46.1 43.5 Revenue 38.1 38.3 Operating profit 0.6 5.2 Operating profit 5.3 2.6 Operating profit 0.9 0.9 5 VAN ELLE HOLDINGS PLC FULL YEA
Slide 6: Financial Review – Balance Sheet
FINANCIAL REVIEW – BALANCE SHEET Restated • Strong balance sheet maintained 2025 2024 • Total capital spend of £5.0m (FY24: £5.5m) of which, £m £m £3.6m funded from cash resources Fixed assets (including intangible assets) 41.4 46.7 • Working capital increase primarily due to delayed R&D Net working
Slide 7: Cash flow
Cash flow 20.0 12.5 18.0 16.0 14.0 5.9 (4.5) £'m 12.0 (2.5) (2.8) 10.0 (1.3) (0.2) 8.0 8.0 (3.4) 7.2 (2.4) 6.0 6.0 4.0 Cash and cash Operating Working capital Net capital Acquisition Cash before Proceeds from Lease and Dividend Reclassification Net decrease in Cash and cash equivalents cash flow inc
Slide 8: Long awaited momentum in growth markets
Long awaited momentum in growth markets • Energy – faster progress, expected to reach £40m revenues by FY27 • Water – AMP8 early works commenced, customer partnerships in place • Rail – CP7 slow ramp-up, mitigated to date by TRU • Housing – steady progress supported by government initiatives • Tall
Slide 9: Residential
RESIDENTIAL • Subdued volumes throughout FY25 impacted by mortgage costs and housebuilder confidence • Balanced exposure to private and affordable/partnership segments • Taller residential schemes severely impacted by Building Safety Act delays • Outlook for housing remains very strong in the UK, su
Slide 10: Energy
ENERGY • Frameworks agreed with Wood and M-Group • Three others in negotiation • Integrated project offering; GI – design - construction • Major transmission and substation schemes underway • Pumped hydro storage programme evolving • Acquisition of Albion Drilling strengthens resource and presence i
Slide 11: Water
WATER • Significantly increased investment under AMP8 • Strategic partnerships in place with Galliford Try, VolkerWessells and Kier • Early projects underway 11 VAN ELLE HOLDINGS PLC FULL YEAR RESULTS 30 APRIL 2025
Slide 12: Rail
RAIL CP7 • Subdued revenues in early stages of CP7 mitigated by TRU volumes • 10-year framework in Southern region underway • Activity levels expected to accelerate into year 3 12 VAN ELLE HOLDINGS PLC FULL YEAR RESULTS 30 APRIL 2025
Slide 13: Current Trading and Outlook
Current Trading and Outlook • Market weakness continued into Q1, now seeing momentum into Q2 with several larger schemes underway • Well positioned to benefit from market improvements • Significant opportunity in the energy and water sectors • Residential sector starting to improve, further progress
Slide 14: Q&A
Q&A 14 VAN ELLE HOLDINGS PLC FULL YEAR RESULTS 30 APRIL 2025
Slide 15: Statistics
Statistics 2025 2024 Restated Financial measures Revenue (£m) 130.5 139.1 Gross profit % 31.0% 30.3% Underlying operating profit margin 4.2% 5.0% Overheads % (underlying) 28.9% 27.2% Net capital expenditure (£’m) * 2.5 3.6 Order book (£’m) 41.5 35.1 Operational measures Number of rigs 153 143 Averag
Slide 16: VAN ELLE HOLDINGS PLC FULL YEAR RESULTS 30 APRIL 2025
16 VAN ELLE HOLDINGS PLC FULL YEAR RESULTS 30 APRIL 2025
Slide 17: Disclaimer
Disclaimer This presentation has been prepared by or on behalf of Van Elle Holdings plc (“Van Elle”). The information set out in this presentation is By attending the presentation to which this document relates and/or by accepting this document you will be taken to have represented, not intended to