Breedon Group Plc · LSE:BREE
Breedon — FY2025 Earnings Presentation
43 slides from Breedon's earnings presentation, Mar 11, 2026
Slide 1: Breedon Group plc Annual Results 2025
Breedon Group plc Annual Results 2025 Breedon Group plc Annual results 2025 11 March 2026
Slide 2: Agenda
Breedon Group plc Annual Results 2025 Group highlights Financial review Operational review Summary and outlook Q&A Appendix 1 Agenda Group highlights Rob Wood, Chief Executive Officer Financial review James Brotherton, Chief Financial Officer Operational review Rob Wood Summary and outlook Rob Wood
Slide 3: Group highlights
Breedon Group plc Annual Results 2025 Group highlights Financial review Operational review Summary and outlook Q&A Appendix 2 Group highlights Rob Wood, Chief Executive Officer
Slide 4: Strength of our model. Quality of our people
Breedon Group plc Annual Results 2025 Group highlights Financial review Operational review Summary and outlook Q&A Appendix 3 Strength of our model. Quality of our people Grew Revenue and EBITDA – Market headwinds beyond our control; GB market volumes to multi -year low, Ireland projects in a testin
Slide 5: Implemented our evolved strategy
Breedon Group plc Annual Results 2025 Group highlights Financial review Operational review Summary and outlook Q&A Appendix 4 Implemented our evolved strategy Significant progress on our – Expand; Lionmark acquisition added US asphalt and surfacing capability, balanced end -market exposure strategic
Slide 6: Financial review
Breedon Group plc Annual Results 2025 Group highlights Financial review Operational review Summary and outlook Q&A Appendix 5 Financial review James Brotherton, Chief Financial Officer
Slide 7: 2025 financial highlights
Breedon Group plc Annual Results 2025 Group highlights Financial review Operational review Summary and outlook Q&A Appendix 6 2025 financial highlights Record post -Covid cash generation; growth in Revenue and EBITDA; increased dividend Revenue Reported Underlying EBITDA Margin ROIC Effective growth
Slide 8: Revenue and EBITDA bridges
Breedon Group plc Annual Results 2025 Group highlights Financial review Operational review Summary and outlook Q&A Appendix 7 Revenue and EBITDA bridges Contribution from M&A together with £20m of operational excellence initiatives supported EBITDA growth Revenue bridge £m EBITDA bridge £m +9% +3% 1
Slide 9: 2025 divisional Revenue and EBITDA contributions
Breedon Group plc Annual Results 2025 Group highlights Financial review Operational review Summary and outlook Q&A Appendix 8 2025 divisional Revenue and EBITDA contributions Robust outcome for GB, resilient performance for Ireland and growth through acquisition in the US Great Britain Ireland Unite
Slide 10: Net Debt and cash flow
Breedon Group plc Annual Results 2025 Group highlights Financial review Operational review Summary and outlook Q&A Appendix 9 Net Debt and cash flow Record post -Covid cash generation and in -year deleveraging; FCF conversion ahead of target +£133.2m Free Cash Flow 48% £m Free Cash Flow conversion 0
Slide 11: 2026 technical guidance
Breedon Group plc Annual Results 2025 Group highlights Financial review Operational review Summary and outlook Q&A Appendix 10 2026 technical guidance Income statement Cash flow Depreciation c.£120m Cash cost of non - underlying items £5m to £10m Net interest expense c.£35m IFRS 16 additional leases
Slide 12: Financial framework to underpin growth
Breedon Group plc Annual Results 2025 Group highlights Financial review Operational review Summary and outlook Q&A Appendix 11 Financial framework to underpin growth Through -cycle investment to build enduring competitive advantage Outcomes Targets Growth Achieved Revenue Outperforms our market Prof
Slide 13: Operational review
Breedon Group plc Annual Results 2025 Group highlights Financial review Operational review Summary and outlook Q&A Appendix 12 Operational review Rob Wood, Chief Executive Officer
Slide 14: UK market
Breedon Group plc Annual Results 2025 Group highlights Financial review Operational review Summary and outlook Q&A Appendix 13 UK market Further contraction UK GDP growth deteriorated through the year UK construction forecast Residential Infrastructure Non -residential All work – Q4 grew 0.1%. 2025
Slide 15: RoI market
Breedon Group plc Annual Results 2025 Group highlights Financial review Operational review Summary and outlook Q&A Appendix 14 RoI market Favourable domestic backdrop Resilient domestic demand RoI construction forecast Residential Infrastructure Non -residential All work – GDP grew +12.3% in 2025 bu
Slide 16: US market
Breedon Group plc Annual Results 2025 Group highlights Financial review Operational review Summary and outlook Q&A Appendix 15 US market Divergent themes Solid US GDP growth US CPiP Residential Infrastructure Non -residential All work – GDP increased 2.2% in 2025; Q4 impacted by the building Governm
Slide 17: Great Britain
Breedon Group plc Annual Results 2025 Group highlights Financial review Operational review Summary and outlook Q&A Appendix 16 Great Britain Robust outcome in challenging markets Elevated enquiry levels Aggregates Asphalt Concrete million tonnes million tonnes million m ³ – Customers maintained a re
Slide 18: Ireland
Breedon Group plc Annual Results 2025 Group highlights Financial review Operational review Summary and outlook Q&A Appendix 17 Ireland Resilient performance; Revenue strengthening Market improved Aggregates Asphalt Concrete million tonnes million tonnes million m ³ – RoI ; end -market demand robust,
Slide 19: United States
Breedon Group plc Annual Results 2025 Group highlights Financial review Operational review Summary and outlook Q&A Appendix 18 United States Leading position in Missouri established Markets diverging Aggregates Asphalt Concrete million tonnes million tonnes million m ³ – Infrastructure robust; state
Slide 20: Back British Cement
Breedon Group plc Annual Results 2025 Group highlights Financial review Operational review Summary and outlook Q&A Appendix 19 Back British Cement Advocating for a UK foundation industry British Our Government cement asks Leading British provider – Establish a robust Carbon Border Largest domestic m
Slide 21: Summary and outlook
Breedon Group plc Annual Results 2025 Group highlights Financial review Operational review Summary and outlook Q&A Appendix 20 Summary and outlook
Slide 22: Outlook
Breedon Group plc Annual Results 2025 Group highlights Financial review Operational review Summary and outlook Q&A Appendix 21 Confident in our future A Better, Stronger Business Outlook – UK remains subdued; early signs of stabilisation – RoI encouraging; structural growth in the medium -term – US
Slide 23: Your questions
Breedon Group plc Annual Results 2025 Group highlights Financial review Operational review Summary and outlook Q&A Appendix 22 Your questions
Slide 24: Appendix
Breedon Group plc Annual Results 2025 Group highlights Financial review Operational review Summary and outlook Q&A Appendix 23 Appendix
Slide 25: Breedon pro forma 2025
Breedon Group plc Annual Results 2025 Group highlights Financial review Operational review Summary and outlook Q&A Appendix 24 Breedon pro forma 2025 Diversified business Revenue 1 by division Revenue 1 by customer Revenue 1 by product 2 GB 65 % Infrastructure c.50 % Aggregate c.30 % Ireland 16% Hou
Slide 26: Cement volumes
Breedon Group plc Annual Results 2025 Group highlights Financial review Operational review Summary and outlook Q&A Appendix 25 Cement volumes GB and Ireland combined Combined cement Cement volumes million tonnes (5)% – In compliance with the Cement Market Data Order 2016, volumes 2.4 across GB and I
Slide 27: MPA volumes
Breedon Group plc Annual Results 2025 Group highlights Financial review Operational review Summary and outlook Q&A Appendix 26 MPA volumes MPA (40)% Aggregates 170 volumes 150 (million 130 tonnes) 110 8% 90 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 202
Slide 28: Significant progress
Breedon Group plc Annual Results 2025 Group highlights Financial review Operational review Summary and outlook Q&A Appendix 27 Significant progress Towards our upgraded sustainability strategy 2030 targets 2030 TARGET 2030 TARGET 2030 TARGET Achieve a 23% reduction Generate £500m cumulative social A
Slide 29: Long-term committed borrowing facilities
Breedon Group plc Annual Results 2025 Group highlights Financial review Operational review Summary and outlook Q&A Appendix 28 Long -term committed borrowing facilities RCF upsized to £400m and maturity extended; additional USPP issued Debt finance positioned to Long -term debt funding with low cost
Slide 30: Disciplined cost management
Breedon Group plc Annual Results 2025 Group highlights Financial review Operational review Summary and outlook Q&A Appendix 29 Disciplined cost management Flexible cost base supported by forward hedging programme 31% Materials & other direct costs – Includes imported cement, bitumen, 8% Energy, fuel
Slide 31: Our track record
Breedon Group plc Annual Results 2025 Group highlights Financial review Operational review Summary and outlook Q&A Appendix 30 Our track record Financial KPIs Revenue Underlying EBITDA Margin Adjusted Underlying Basic EPS* Dividend per share* £million % pence pence 1,713.8 16.3 31.8 15.0 2025 1,713.
Slide 32: Our track record
Breedon Group plc Annual Results 2025 Group highlights Financial review Operational review Summary and outlook Q&A Appendix 31 Our track record Non -financial KPIs Combined LTIFR Combined TIFR Reserves and resources Emissions intensity – Revenue per million hours worked per million hours worked bill
Slide 33: Consolidated income statement
Breedon Group plc Annual Results 2025 Group highlights Financial review Operational review Summary and outlook Q&A Appendix 32 For the year ended 31 December 2025 Consolidated income statement £million 2025 2024 Revenue 1,713.8 1,576.3 Underlying EBITDA 278.8 269.9 Depreciation and mineral depletion
Slide 34: Statement of financial position
Breedon Group plc Annual Results 2025 Group highlights Financial review Operational review Summary and outlook Q&A Appendix 33 As at 31 December 2025 Statement of financial position £million 2025 2024 Property, plant and equipment 996.1 939.1 Right -of -use assets 45.3 46.5 Intangible assets 792.1 6
Slide 35: Free Cash Flow
Breedon Group plc Annual Results 2025 Group highlights Financial review Operational review Summary and outlook Q&A Appendix 34 For the year ended 31 December 2025 Free Cash Flow £million 2025 2024 Underlying EBITDA 278.8 269.9 Working capital and provisions (3.8) (16.6) Interest (24.5) (17.6) Tax (1
Slide 36: Segmental Reporting
Breedon Group plc Annual Results 2025 Group highlights Financial review Operational review Summary and outlook Q&A Appendix 35 Segmental Reporting Income statement (Restated) 2024 2023 2022 2021 2020 Underlying Underlying Underlying Underlying Underlying £m Revenue EBITDA Revenue EBITDA Revenue EBIT
Slide 37: Exchange rates
Breedon Group plc Annual Results 2025 Group highlights Financial review Operational review Summary and outlook Q&A Appendix 36 Exchange rates Increased exposure to exchange rate volatility, particularly in the US 2025 2024 Change Ready reckoner for translation of movement Average rates in FX rates o
Slide 38: Input costs; fully or partially hedged
Breedon Group plc Annual Results 2025 Group highlights Financial review Operational review Summary and outlook Q&A Appendix 37 Input costs; fully or partially hedged Energy, fuel s and carbon costs account for 8% of total cost base UK Electricity Bitumen Carbon 2,500 180 450 160 400 2,000 140 350 12
Slide 39: Aggregates pricing outpaces inflation
Breedon Group plc Annual Results 2025 Group highlights Financial review Operational review Summary and outlook Q&A Appendix 38 Aggregates pricing outpaces inflation Asset base and local model provide a natural inflation hedge Aggregates markets outpace inflation UK – indexed to 100 in 2000 Aggregate
Slide 40: Market consensus
Breedon Group plc Annual Results 2025 Group highlights Financial review Operational review Summary and outlook Q&A Appendix 39 Market consensus Company compiled as at 6 March 2026 2025 2026 Value Range Value Range Revenue £1,721m £1,672m – £1,764m £1,775m £1,737m – £1,808m Underlying EBITDA £ 276 m
Slide 41: Investment case
Breedon Group plc Annual Results 2025 Group highlights Financial review Operational review Summary and outlook Q&A Appendix 40 Investment case Cemex BMC An outstanding track record of sustainable growth UK assets Breedon Hope Lagan Six bolt -on Twelve bolt -on Lionmark transactions transactions £169
Slide 42: Making a material difference
Breedon Group plc Annual Results 2025 Group highlights Financial review Operational review Summary and outlook Q&A Appendix 41 Making a material difference To be a leading, vertically -integrated international construction materials group Our values Our strategy We are committed to upholding clear,
Slide 43: Forward looking statement
Breedon Group plc Annual Results 2025 Group highlights Financial review Operational review Summary and outlook Q&A Appendix 42 Forward looking statement The information contained in this undertakings nor any of their respective The Company is under no obligation to presentation document (the “presen