Preliminary Results FYE 31 May 2025

Hargreaves Services plc

Preliminary Results

for the year ended 31 May 2025

Wednesday 30 July 2025

Presentation team

Gordon Banham, Chief Executive Officer

• Joined the Group in 2001 and subsequently appointed as CEO

  
  
  

• Led management buyout in 2004 and the Company's flotation on the London Stock Exchange and has since guided a series of major acquisitions for the Company

  Stephen Craigen, Chief Financial Officer

• Joined the Board in 2023

  
  
  
  
  
  

• Chartered accountant, with over 20 years experience in finance, having trained at PwC, joined the business in 2013 and subsequently appointed to the Board in 2023

  Simon Hicks, Chief Operating Officer

• Joined the Group in 2025

• Simon has over 35 years experience in the Energy, Utility, Waste Management and Infrastructure sectors, holding senior leadership positions - notably as CEO of Evero Energy, Regional Managing Director of Altrad Services, and Projects Director at Bilfinger

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Strategic

Value Proposition

Gordon Banham

3

Chief Executive Officer

Group Strategy

• Organic growth supporting long term sustainable dividend

  
  
  

• Focus on contract wins in areas of core competence

  
  
  Land

  • Realisation of renewable assets

  • Reduction of capital employed from c.

£80m to c. £20m

• Maximise cash repatriation

• DK adapting to market conditions

  4

  
  
  

  FY25 Highlights

  01

  SERVICES

  • Services revenue up by 20% and net margin now 6.5%

    
    
    

  • New contract wins including:

    • Yorkshire Water, Northumbria Water and M Group

    • Thalia and Enfinium contract supporting energy recovery

    • Increased Prescence at Sizewell C Nuclear Power Station.

      02

      LAND

      
      
      

      • 10 acre Blindwells plot sale to Avant Homes for

        proceeds of £9.25m

      • 7 acre Blindwells plot sale to Places for People delivering revenue of £4.55m

        UPBT

        £17.6m (FY'24: £16.9m)

        4%

        3%

        DPS 37.0p (FY'24: 36.0p) EBITDA £33.7m (FY'24:

        3%

        Cash £23.3m (FY'24: £22.7m)

      • Renewable energy land asset portfolio independently valued at £27m-£29m

        03

        HRMS

        £26.1m)

        29%

        • Trading stable despite challenging German marketplace

        • DK improvement following positive movements in solid fuels pricing and renegotiated gate fees

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