Mitie Group Plc (MITFF) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Okay, well, good morning, everyone, and welcome to MITEI's interim results presentation for the six months ended 30th of September, 2025, H1 FY26, as we call it. Which, as usual, we are broadcasting live here from the Shard. We're also joined today by Chris Rogers, MITEI's new chairman. Welcome, Chris. and also welcome Sam White. Sam White is our long awaited and much welcome Managing Director of Technical Services Division who joins us from Costain on the 1st of December. Thank you, Sam, for slipping off quietly here. Now, it's just over two years ago since our capital markets event that we held here, where we launched the Mightyverse, if you remember, and our facilities transformation vision. And we've now reached the halfway mark in delivering our FY25 to FY27 vision. three-year plan. As a reminder, our business model set out to leverage our scale, our technology, and our capabilities to unlock the value of our customers' estates through facilities management, facilities transformation, and with the recent acquisition of Marlowe, facilities compliance. and, as we say, to become the future of high-performing buildings and places. At this stage, I'm pleased to say that the business is on track and momentum is growing. Encouragingly, we have maintained double-digit revenue growth for the fifth successive six-month period, significantly outpacing the market, and we've shown good margin resilience despite the headwinds from national insurance and wage inflation. We've delivered record contract wins again and renewals and have continued to grow the order book and pipeline again. Free cash flow generation was good and our leverage at one times EBITDA is modest, hence why we launched in October a new 100 million pound buyback program over the next 12 months. We're confirm...