Kier Group plc (KIE) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Thank you very much for joining us for our half year 2025 results presentation. For those of you here in person, I'd also like to extend a warm welcome to those of you joining us by the webcast and the audio as well. I'm Andrew Davies. I'm the Chief Executive of Keir Group and I'm joined today by Simon Kesterton, our Chief Financial Officer. And this morning, I'll walk you through the highlights for the six months to the 31st of December 2024. And then I'll hand you over to Simon to talk you through the group's financial performance. And this will be followed by an operational review, an update on ESG, and we'll finish off with our outlook. And then there'll be an opportunity for questions and answers at the end of the presentation. So there's the disclaimer and there's the title slide. So moving to the highlights of the year on slide four, this slide here. The last six months, I've seen the group deliver a solid set of results demonstrating further operational and financial progress. We've delivered revenue growth, which resulted in an operating profit of £67 million, representing a margin of 3.4%, which is consistent with the prior period. We continue to convert these profits into cash with a net cash position of £58 million at December and significant reduction in average month-end net debt now down to £38 million. Future prospects of the Group also remain strong, with the Group's order book increasing by 2% in the period to a record £11 billion, reflecting contract wins across our business and providing multi-year revenue visibility. And around 98% of our FY25 revenue is now secured in the order book. Our order book is supported by long-term framework positions, And given the significant progress that the group has made in recent years, and given our continuing c...