Billington Holdings Plc · LSE:BILN
Billington — FY2024 Earnings Presentation
37 slides from Billington's earnings presentation, April 2025
Slide 1: Results for the 12 months ended 31 December 2024
1 Results for the 12 months ended 31 December 2024 April 2025
Slide 2: Presentation Team
2 Presentation Team Mark Smith Chief Executive Officer Mark has an in-depth knowledge of the construction industry with over 35 years’ experience, driving for growth and profit in competitive markets. Mark joined Billington as COO in June 2014 and became CEO in January 2015. Trevor Taylor Chief Fina
Slide 3: Executive Summary
3 Executive Summary Strong performance in a challenging market Revenue of £113.1 million. Profit Before Tax (PBT) of £8.3 million with an operating margin of 8.9%. Strong cash balance of £21.7m with zero debt. Dividend proposed of 25 pence per share. Robust orderbook of large and complex projects. S
Slide 4: Corporate
4 Corporate London (AIM) Share Price Ordinary Shares in Issue (No.) Market Cap. (GBP, Millions) Major Shareholders BILN 440.00 13,334,327 58.67 Gutenga Investments PCC Ltd 19.4% as of 11/04/2025 TrinityBridge 10.6% Charles Stanley Group 10.5% GPIM 5.6% Ocorian Trustees (Jersey) Ltd 5.1% Otus Capital
Slide 5: Financial Highlights
5 Financial Highlights Strong asset-backed balance sheet underpins future strategy Resilient Group trading performance recognising an operating profit margin of 8.9%. Dividend declared of 25 pence per share - covered 2.65 times underlying earnings. Consistent cash balance with net cash balance of £2
Slide 6: Financial Highlights – In Numbers
6 Financial Highlights – In Numbers Robust trading performance Operating Profit Profit Before Tax Revenue of £113.1m (2023: £132.5m) Margin of 8.9% of £8.3m (2023: 10.0%) (2023: £10.3m) Cash Balance Net Assets of £53.0m of £21.7m Debt Free (2023: £47.8m) (2023: £22.1m) Pension Surplus of Basic EPS o
Slide 7: Income Statement
7 Income Statement Unit 1, HBC Fields, Widnes 8.9% Operating profit margin Year to Year to £’000 31 December 31 December 2024 2023 Revenue 113,061 132,495 Total costs (excluding depreciation) 100,700 117,034 EBITDA 12,361 15,461 Depreciation 2,340 2,215 Group operating profit 10,021 13,246 Net finan
Slide 8: Net Cash Movement 2024
8 Net Cash Movement 2024 Solid, consistent cash balance throughout the period Increase Decrease Total 40.00 35.00 11.88 30.00 (2.63) (2.66) 25.00 22.10 (4.19) 21.70 (2.70) (0.10) 20.00 15.00 10.00 5.00 0.00 Circle Square, Manchester
Slide 9: Continued Capital Investment
9 Continued Capital Investment Ficep Cope Drill at Shafton Continued capital investment programme 2024 Capital Investment – Plant, equipment & machinery £m Cutlite Penta Plate Laser (Wombwell) 0.78 Ficep Cope / Drill (Shafton) 1.50 Vehicles 0.52 Hoard-it and Easi-Edge hire stock 0.85 Plant and Machi
Slide 10: Divisional Breakdown
10 Divisional Breakdown Tubecon activities increasing 2024 Revenue Breakdown 2% 5% 8% Structural Steel Safety Solutions 6% 2% 77% Billington Structures Easi-Edge Marshall Steel Stairs Hoard-it Shafton Specialist Protective Coatings
Slide 11: Divisional Highlights
11 Divisional Highlights Skelton Grange EfW, Leeds Large multi-sector projects Project: LON Data Centres Project: Hallenbeagle RTS Project: SmartParc Sector: Data Sector: Industrial Sector: Industrial Client: Yondr Client: Kier Construction Client: TSL Projects Project: NewCold Dinteloord Project: T
Slide 12: Forward Order Book
12 Forward Order Book Significant Productive Hours Secured for Billington Structures Forward Order Book (£m and Productive Hours) Significant secured forward workload £m Productive Hours Contracts secured spanning well into 2026 Smaller number of larger, labour intensive projects Dec-20 Mar-21 Jun-2
Slide 13: Divisional Highlights
13 Divisional Highlights North Lindsey College, Scunthorpe Delivering large metalwork packages for a diverse client base Project: One Liverpool Street Project: Manchester Airport Project: Skelton Grange EfW Sector: Commercial Sector: Infrastructure Sector: Power Generation Client: William Hare Clien
Slide 14: Divisional Highlights
14 Divisional Highlights Tilbury Douglas – GMIoT Market leader in edge protection systems Project: 325 Deansgate Project: Florence MacWilliams Project: CityLabs Sector: Residential Sector: Education Sector: Health Client: Ask Deansgate Client: Bowmer & Kirkland Client: Leach Steel Meterage: 2,898 lm
Slide 15: Divisional Highlights
15 Divisional Highlights Fulham Academy, Tilbury Douglas Established as the hoarding supplier of choice Project: Therme Manchester Project: Belfry Leisure Project: RAF Trenchard Client: Clipfine Client: Elliot Group Client: Reds10 Meterage: 600 lm Meterage: 426 lm Meterage: 500 lm Hire/Sale: £150k -
Slide 16: Divisional Highlights
16 Divisional Highlights 210mm Thick Steel Market leading capabilities Process: Large Plate Profiling Process: 95mm Thick Steel Process: Class 3 Fittings Client: ADEY Steel Plate Profile Cutting Client: Newbridge Engineering Client: S&E Engineering Process: Countersunk Durbar Process: Shear Key Prof
Slide 17: Divisional Highlights
17 Divisional Highlights Chimney Section, Thelkane Industrial Chimneys Increased reach of non-structural steelwork markets Project: Cuckoos Hollow Project: NLHPP Project: Surge Vessels Sector: Infrastructure Sector: Power Generation Sector: Water Industry Client: Tubecon Client: Billington Structure
Slide 18: Divisional Highlights
18 Divisional Highlights Cuckoos Hollow, Peterborough Capacity expansion at Shafton Project: Cuckoos Hollow Project: Meridian Water Project: Peterborough Sector: Infrastructure Sector: Infrastructure Court Canopy Sector: Commercial Client: Milestone Infrastructure Client: Taylor Woodrow Client: OAG
Slide 19: The Wider Steel Market
19 The Wider Steel Market Stable steel supply market in the UK Government supporting the transition to Electric Arc Furnace (EAF) steel production in the UK. British Steel commit to manufacture of steel sections for construction and rail industries. Steel price softening noted in 2023 with more stab
Slide 20: ESG Commitments
20 20 ESG Commitments Environmental Social Governance Group ESG committee to identify, develop and implement Support the communities in which the companies To ensure the interests of the Company, management, carbon reduction projects. operates through taking active involvement in community sharehold
Slide 21: Strategy – Five P's
Strategy — Five P’s y Holdings Ple 4 onere) PTocnsureasafeworking To actively promote To harness individu DP Todevelop, motivate and To evolve a dive nin) environment and drive our ane encourage the next neray, ambition and core ——-—inspire the next generation inclusive and thriving safety culture f
Slide 22: Long term capital allocation strategy
22 Long Term Growth DRIVING LONG TERM GROWTH ORGANIC INORGANIC Internal Enhancements Commercial Focus Acquisitions and Diversification Continued focus on margin improvement and driving Active identification and targeting of projects Identification of complementary efficiencies: within the EU. acquis
Slide 23: Market Outlook
23 Market Outlook NOMA, 4 Angel Square, Manchester Significant secured forward workload combined with strong customer relationships and an excellent track record of delivery sees Billington well placed in the market. Uncertain macro economic environment resulting in reduced opportunities. Recently i
Slide 24: Summary
24 Summary AELTC, Wimbledon Our financial stability and strong orderbook, in what is a challenging market, provides cautious optimism for the future. Operations Final year of capital investment programme in 2025 to further improve operational efficiencies and enhance quality. Continued successful re
Slide 25: Any Questions? Appendix
Billington Any Questions? Appendix
Slide 26: Statement of Financial Position
26 Statement of Financial Position Project Merlin, Watford Significant net cash balance combined with property assets £’000 31 December 2024 31 December 2023 Non-Current Assets 30,442 27,814 Current Assets 47,673 53,782 Total Assets 78,115 81,596 Current Liabilities (20,033) (29,116) Non-Current Lia
Slide 27: Cash Flow
27 Cash Flow Excellent cash management with £21.7m gross cash balance Year to Year to 31 £’000 31 December December 2024 2023 Profit after tax 8,272 10,325 Net cash flow from operating activities 8,710 15,948 Net cash flow from investing activities (4,674) (2,633) Net cash from financing activities
Slide 28: ESG – Environmental for 2024
28 ESG – Environmental for 2024 Cycle to Work Scheme Billington Holdings accredited Carbon Neutral Further transition to hybrid and electric vehicles. HVO into the operational plant piloted. Consideration of solar panel / wind electricity generation. Green energy tariffs for new energy contracts. LE
Slide 29: Steel Manufacture – Raw Material Trends
29 Steel Manufacture – Raw Material Trends Steel prices relatively stable during 2024 • Coal prices have been marginally • Prices have steadied at around the decreasing since November 2024 but $100-110 mark recently. similar position to iron ore historically • Coke prices marginally • Scrap prices r
Slide 30: Award Success
30 Award Success Honourable Mentions Skelton Grange EfW 2025 Structural Steel Design Awards Submitted Plot 7 B, New Bailey 2024 Structural Steel Design Awards Shortlist NOMA, 4 Angel Square 2024 Structural Steel Design Awards Skelton Grange EfW Newhurst EfW Facility Shepperton Studios Shortlist 2024
Slide 31: Projects
Kh Wy ¥ Billington Holdings Pic Projects
Slide 32: TK Maxx, Watford
32 TK Maxx, Watford Data Centre, Hayes Rivenhall EfW, Essex Wells House, London
Slide 33: Dinteloord, Netherlands
33 Dinteloord, Netherlands Newcold Panattoni Park, Avonmouth Arle Court Transportation Hub, Tewkesbury Newhurst EfW, Leicestershire
Slide 34: Skelton Grange EfW, Leeds
34 Grange EfW, Leeds Skelton North Lindsey College, Scunthorpe Data Centre, Slough Hallenbeagle RTS, Cornwall
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 Financial Officer Andrew Burdis Zach Cohen 01226 340666 020 7220 0500 020 3934 6630 www.bill
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