Billington Holdings Plc · LSE:BILN
Billington — H1 2026 Earnings Presentation
37 slides from Billington's earnings presentation, September 2026
Slide 1: Interim Results for the six months ended 30 June 2026
1 Interim Results for the six months ended 30 June 2026
Slide 2: Presentation Team
Thermotraffic, Wrexham 2 Presentation Team Mark Smith Trevor Taylor Dave Jones Chief Executive Officer Chief Operating Officer Chief Financial Officer Mark has an in-depth knowledge A fellow of the Institute of A member of the Association of of the construction industry with Chartered Accountants in
Slide 3: Executive Summary
Power Plant Room, Kettering Hospital 3 Executive Summary Improved trading with record order book providing visibility over future revenues Leadership Mark Smith to retire as Chief Executive Officer on 1 January 2027 while remaining with the business in an advisory capacity Trevor Taylor will transit
Slide 4: Corporate
4 Corporate Net Asset value of 384p per share Major Shareholders London (AIM) Share Price Ordinary Share in issue (No.) Market Cap. (GBP, millions) Gutenga 19.4% BILN 445.00p 13,334,327 59.34 Charles Stanley 10.0% as of 23/09/2026 GPIM 9.2% Trinity Bridge 8.0% IG Markets 4.3% Crucible Clarity 4.1% B
Slide 5: Financial Highlights
5 Financial Highlights Strong performance in challenging market conditions Revenue increased by 29.1% to £54.0 million, principally reflecting a return to higher average steel content across structural steelwork projects in the period Improved cost base, with reduced overhead rates, following consol
Slide 6: Financial Highlights – in Numbers
6 Financial Highlights – in Numbers Asset-backed balance sheet underpins future growth and investment Underlying Operating Underlying Profit Revenue of £54.0m (H1 2025: £41.8m) Profit Margin of 5.1% Before Tax of £3.1m (H1 2025: 3.3%) (H1 2025: £1.7m) Cash Balance Net Assets of £51.2m of £12.6m Debt
Slide 7: Income Statement
Warner Bros. Studios 7 Income Statement Consolidation of activities in Barnsley complete Six months to Six months to Year to 31 £’000 30 June 2026 30 June 2025 December 2025 Underlying Underlying Underlying Revenue 53,951 41,780 95,694 Total costs (excluding depreciation) (49,988) (39,096) (89,553)
Slide 8: Net Cash Movement H1 2026
8 Net Cash Movement H1 2026 Cash reduction reflects increased working capital requirement and timing of contract delivery Disciplined capital allocation policy Increased working capital Debt free and £6m RCF available Yate facility being marketed for sale with proceeds expected to be realised in H1
Slide 9: Continued Capital Investment
9 Continued Capital Investment Future Capital Investment planned to support further growth and increase shareholder value H1 2026 Capital Investment – Property, Plant & Equipment £m Hoard-it and Easi-Edge Hire Stock 0.60 Trailer Fleet 0.14 Plant & Machinery 0.26 Vehicles 0.10 Total 1.10 Transfer of
Slide 10: Divisional Breakdown
10 Divisional Breakdown A diverse portfolio of complementary businesses 2026 Revenue Breakdown 1% 6% 2% Structural Steel Safety Solutions 10% 5% 1% 75% Billington Structures Easi-Edge Marshall Steel Stairs Hoard-it Shafton Tubecon Specialist Protective Coatings
Slide 11: Divisional Highlights
Telehouse West 2 Data Centre 11 Divisional Highlights Large Data Centre and Energy projects secured Project: Kettering Hospital Project: Thermotraffic Wrexham Project: North London Heat Sector: Health Sector: Industrial and Power Project Sector: Power Generation Client: Sir Robert McAlpine Client: T
Slide 12: Divisional Highlights
University of South Wales 12 Divisional Highlights Delivering large metalwork packages for a diverse client base Project: University of South Project: 65 Gresham Street Project: Thermotraffic Wrexham Wales Sector: Commercial Sector: Industrial Sector: Education Client: William Hare Client: Billingto
Slide 13: Divisional Highlights
Damfield Extra Care 13 Divisional Highlights Encouraging prospects for remainder of 2026 & 2027 Project: Damfield Extra Care Project: Mosslands School, Project: Talbot Road Sector: Health Cheshire Government Hub, Blackpool Client: Eric Wright Sector: Education Sector: Commercial Meterage: 2,670 lm p
Slide 14: Divisional Highlights
Eastwick & Sweetwater 14 Divisional Highlights Continued revenue growth Project: Eastwick & Project: River Tees Academy Project: Park Lane Sweetwater Client: BAM Client: Barhale Client: McAleer & Rushe Meterage: 800 lm Meterage: 230 lm Meterage: 800 lm Hire/Sale: Hire Hire/Sale: Hire Hire/Sale: Sale
Slide 15: Divisional Highlights
T&I Line Plate Girders 15 Divisional Highlights Further investment planned to enhance capabilities Process: T&I Line Plate Girders Process: Shotblasted Sections Process: Shear Punch Fittings Client: ASD Westok Client: RJ Barretts of Yorkshire Client: Evadx Process: 95mm Thick Disc Process: Angle Iro
Slide 16: Divisional Highlights
500mm Bore Pipework 16 Divisional Highlights Increased demand for intumescent treatments noted Project: Pipes and Fittings Project: Sulzer Baseplates Project: Structural Steelwork Sector: Water Sector: Infrastructure Sector: Infrastructure Client: FT Pipeline Systems Client: Tinsley Bridge Client: P
Slide 17: Divisional Highlights
Pont y Milgy Footbridge 17 Divisional Highlights Shafton facility fully utilised Project: Merlin Footbridge Project: Mallison Footbridge Project: Meridian Water Bridge Sector: Leisure Sector: Infrastructure Sector: Infrastructure Client: Bowmer & Kirkland Client: Devon County Council Client: Taylor
Slide 18: Three Pillars of Sustainability
18 Three Pillars of Sustainability Planet People Principles Group Sustainability committee to identify, develop and Support the communities in which the companies To ensure the interests of the Company, management, implement carbon reduction projects operates through taking active involvement in com
Slide 19: Strategy – Five P's
Strategy — Five P’s v Holdings Plc 2 To ensure asate working —_—9 To actively promo! > To hamess individuals >To develop, motvateand ‘To evolve a diverse, and encourage the next energy, ambition and inspire the next generation Inclusive and thriving generation of p skis of people into and within our
Slide 20: Strategic Milestones and Initiatives
20 Strategic Milestones and Initiatives Continued implementation of strategic projects Strategic Projects and Achievements Capital investment and modernisation programme principally complete Expansion of shift working at Wombwell Launch of the Billington Fabrication Academy at Shafton, welcoming 15
Slide 21: Growth Strategy
21 Growth Strategy DRIVING LONG TERM GROWTH ORGANIC INORGANIC Internal Enhancements Commercial Focus Acquisitions Continued focus on margin improvement and driving Continued expansion of and diversification into Identification of complementary efficiencies: infrastructure and bridgework markets. acq
Slide 22: The Wider Steel Market
22 The Wider Steel Market Import quotas implemented from 1 July 2026 Government assumed control of British Steel in April 2025 and was taken into public ownership in July 2026 to protect the future of steel production in the UK Circa 25% rise in steel material costs noted in 2026 UK/EU demand remain
Slide 23: Forward Order Book
23 Forward Order Book Record order book for Billington Structures Significant secured forward workload Contracts secured spanning into 2027 and 2028 Diverse range of projects across multiple market sectors
Slide 24: Market Outlook
Forgemasters, Sheffield 24 Market Outlook Record forward order book of large projects in buoyant markets, provides confidence for the future Data Centre and Power Generation sectors continue to present significant opportunities Projects and opportunities in the Company’s primary markets currently re
Slide 25: Summary
Stallingborough Interchange 25 Summary Our financial stability and strong order book provides optimism for the future Operations Focus on the 5P’s strategy to maximise margin and generate value from the Group fixed cost base Consolidation of our structural steel operations in Barnsley with further c
Slide 26: Any Questions? Appendix
ington . Holdings Pic Any Questions? Appendix = >
Slide 27: Balance Sheet
27 Balance Sheet Strong asset-backed balance sheet with zero debt £’000 30 June 2026 30 June 2025 31 December 2025 Non-current assets 28,207 30,927 28,375 Current assets 49,215 44,384 43,955 Total assets 77,422 75,311 72,330 Current liabilities (22,004) (19,065) (17,626) Non-current liabilities (4,1
Slide 28: Cash Flow
28 Cash Flow Increased working capital requirements £’000 30 June 2026 30 June 2025 31 December 2025 Profit after tax 2,116 1,252 1,327 Net cash flow from operating activities (8,956) (2,931) 3,496 Net cash flow from investing activities (936) (1,173) (1,861) Net cash from financing activities (140)
Slide 29: Steel Manufacture – Raw Material Trends
29 Steel Manufacture – Raw Material Trends Steelmaking • Prices reached $114.1/t in May 2026, the • Coal prices have increased to year-highs of costs increasing highest reading since May 2024. Recently $284/t in September after a steady end to Q2 prices have steadied below $100/t • Coke prices have
Slide 30: Award Success
30 Award Success Honourable Mentions Wells House (AKA The Ribbon) 2026 Structural Steel Design Awards Commendation All England Lawn Tennis Club 2025 Structural Steel Design Awards Shortlist Plot 7 B, New Bailey 2024 Structural Steel Design Awards Skelton Grange EfW Newhurst EfW Facility Shepperton S
Slide 31: Projects
ington . Holdings Pic = > Projects
Slide 32: Telehouse Admin Building
Unit 1, HBC Fields Skelton Grange EfW 32 Telehouse Admin Building Amazon Distribution Centre
Slide 33: Project Merlin, Slough Data Centre, Alsager
Project Merlin Slough Data Centre 33 Alsager, Stoke-on-Trent Amazon Distribution Centre
Slide 34: Slough Data Centre, North Lindsey College, Dove Valley Park
Slough Data Centre Dove Valley Park 34 North Lindsey College North London Heat and Power Project
Slide 35: Contacts
35 Contacts Billington Holdings Plc Cavendish Capital Markets Ltd IFC Advisory Limited Mark Smith, Chief Executive Officer Ed Frisby | Trisyia Jamaludin | Tim Metcalfe | Graham Herring | Trevor Taylor, Chief Operating Officer Andrew Burdis Zach Cohen Dave Jones, Chief Financial Officer 020 7220 0500
Slide 36: Disclaimer
36 Disclaimer The content of this promotion has not been approved by an authorised person within the meaning of the Financial Services and Markets Act 2000. Reliance on this promotion for the purpose of engaging in any investment activity may expose an individual to a significant risk of losing all
Slide 37: Billington-holdings.plc.uk
37 01226 340666 Billington-holdings.plc.uk