REG - Balfour Beatty PLC - BALFOUR BEATTY 2025 AGM TRADING UPDATE

Balfour BeattyAnnouncement

Thu 07:01

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RNS Number : 7774H  Balfour Beatty PLC  08 May 2025

 

8 May 2025

BALFOUR BEATTY 2025 AGM TRADING UPDATE

Ahead of today's Annual General Meeting, Balfour Beatty announces an update on
trading for the period 1 January 2025 to date.

The Group's trading over the period has been in line with expectations and the
Board continues to expect an increase in profit from operations from its
earnings-based businesses in 2025.

The positive momentum in Balfour Beatty's key markets has continued since the
2024 full year results were published in March and the Group remains committed
to a selective bidding approach in the continued pursuit of a high-quality and
low-risk forward order book.

Notable orders in the period include:

-      In the UK, the rail business has secured c£450 million of new
work, including civil engineering works under CP7, track renewal with the
Central Rail Systems Alliance and fleet supply and operation for Network Rail;

-      The US Buildings business has been awarded a $385 million contract
to construct the Grand Hyatt Miami Beach. The 17 storey, 800 guestroom hotel,
includes convention spaces and retail areas and is scheduled for completion in
late 2027; and

-      The US Civils business has been awarded a $889 million contract by
the Texas Department of Transportation to reconstruct a 3.7-kilometre section
of Interstate 30 on the east side of Dallas County. The scheme will increase
the number of general-purpose lanes from six to 12 to improve congestion and
connectivity across the city and is scheduled for completion in 2031.

Over the first three months of 2025, the average monthly closing net cash
balance was

£1,060 million (FY 2024 average: £766 million, 2024 closing: £943 million).
Given the strong cash performance in the year to date, the Board now expects
2025 average net cash in the range of £900 - £1,000 million.

The £125 million share buyback is on track to be completed by the end of the
year, with approximately £46 million completed to date.

 

ENDS

 

 

Analyst/investor enquiries:

Jim Ryan
Tel. +44 (0)785 836 8527

jim.ryan@balfourbeatty.com (mailto:jim.ryan@balfourbeatty.com)

 

Media enquiries:

Antonia Walton

+44 (0)203 810 2345
antonia.walton@balfourbeatty.com (mailto:antonia.walton@balfourbeatty.com)

 

Notes to editors:

·    Balfour Beatty (https://www.balfourbeatty.com/) is a leading
international infrastructure group with over 27,000 employees driving the
delivery of powerful new solutions, shaping thinking, creating skylines and
inspiring a new generation of talent to be the change-makers of tomorrow.

·    We finance, develop, build, maintain and operate the increasingly
complex and critical infrastructure that supports national economies and
deliver projects at the heart of local communities.

·    Over the last 116 years we have created iconic buildings and
infrastructure all over the world. Currently, we are working to deliver
Hinkley Point C, the first UK nuclear power station in a generation;
constructing the world-class arts and cultural facility, the Lyric Theatre, in
Hong Kong; and designing, building, financing, operating and maintaining the
Automated People Mover superstructure at one of the busiest airports in the
world, Los Angeles International Airport.

 

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