REG - Taylor Wimpey PLC - Investor and analyst update and trading statement

Taylor WimpeyAnnouncement

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RNS Number : 5102B  Taylor Wimpey PLC  01 October 2025

 

 

1 October 2025

Taylor Wimpey plc

Investor and analyst update and trading statement for the period from 28 July
2025 to date

 

Investor and analyst update

 

Taylor Wimpey will today host an event for institutional investors and
analysts where Chief Executive Jennie Daly, Group Finance Director Chris
Carney, and members of the senior management team will outline how the
business is set up to deliver growth, unlock value and maximise returns in the
next phase of the cycle.

The event will demonstrate the work undertaken to optimise our land position
in the context of an improving planning backdrop, and to position the business
for growth, notwithstanding the current more muted demand environment.

At the event we will outline the drivers for the following medium term
targets:

-     UK completions (excl. JVs): 14,000

-     UK landbank years*(‡‡): 4.5 - 5

-     Group operating profit margin*(†): 16-18%

-     Group return on net operating assets***: >20%

Growth will be driven by higher outlet numbers, without the need for net land
investment as we unlock the value of our strong, existing landbank and
reinvest in smaller sites.

Operating profit margins will benefit from operating leverage as volumes grow
and with the evolution of the landbank as we cycle into newly purchased land
which benefits from improved margins.

We are highly focused on optimising our capital efficiency helping us to
deliver materially improved return on net operating assets. Recent changes to
the National Planning Policy Framework enable us to target a shorter landbank
and this together with improved WIP efficiency and higher volumes will
significantly improve our asset turn.

We also reaffirm our confidence in our capital allocation policy which
prioritises balance sheet strength, investment in the business to support
growth across the cycle and a reliable dividend for shareholders.

Current trading

Against the backdrop of softer market conditions beginning in the second
quarter, we have delivered a robust sales rate. In the nine weeks to 28
September 2025, our net private sales rate was 0.65 per outlet per week (2024
equivalent period: 0.70), and 0.64 excluding bulk deals (2024 equivalent
period: 0.68). Pricing remained broadly flat with a cancellation rate of 16%
(2024 equivalent period: 16%).

Our sales rate for the year to date is 0.74 per outlet per week (2024
equivalent period: 0.72), and 0.69 excluding bulk deals (2024 equivalent
period: 0.68). The cancellation rate for the year to date is 16% (2024
equivalent period: 15%).

As at week ended 28 September 2025, our total order book value was £2,123
million (2024 equivalent period: £2,153 million), excluding joint ventures,
representing 7,223 homes (2024 equivalent period: 7,709 homes), of which 73%
are exchanged (2024 equivalent period: 73%).

 

Outlook

We remain on track to deliver our full year 2025 guidance range of 10,400 to
10,800 UK completions (excluding JVs) and we continue to expect to deliver
full year Group operating profit* of c.£424 million.

While mindful of the various issues impacting customer sentiment and
propensity to buy homes, including the impact of the delayed UK Budget on
short term customer confidence, we remain well positioned and own all land
with planning for 2026 completions.

We are currently operating from 215 outlets (2024 equivalent period: 207) and
expect 2025 year end outlets to be in the range of 210 to 215 (31 December
2024: 213). Going forward, average outlets will increase year on year as we
unlock value from our strong landbank and redeploy capital for growth. We
remain confident in the underlying fundamentals of the UK housing market, with
its pressing need for new homes, and in the medium term potential of the
business to deliver profitable growth and maximise shareholder returns.

 

Definitions

* Operating profit is defined as profit on ordinary activities before
financing, exceptional items and tax, after share of results of joint
ventures.

*(†) Operating profit margin is defined as operating profit divided by
revenue.

** Net operating assets is defined as net assets less net cash, excluding net
taxation balances and accrued dividends. Average net operating assets is the
average of the opening and closing net operating assets of the 12-month
period.

*** Return on net operating assets (RONOA) is defined as rolling 12-month
operating profit divided by average net operating assets.

*(‡‡) UK landbank years is defined as the number of plots in the UK short
term owned and controlled landbank divided by the legal completions in the
most recent 12 month period.

 

-Ends-

 

The presentation materials will be provided online following the meeting:
www.taylorwimpey.co.uk/corporate/investors/results-and-reports
(http://www.taylorwimpey.co.uk/corporate/investors/results-and-reports)

For further information please contact:

Taylor Wimpey plc
 
Tel: +44 (0) 1494 885656

Jennie Daly, Chief Executive

Chris Carney, Group Finance Director

Debbie Archibald, Investor Relations

Andrew McGeary, Investor Relations

 

FGS Global
 
TaylorWimpey-LON@fgsglobal.com

Faeth Birch

Anjali Unnikrishnan

 

Notes to editors:

Taylor Wimpey plc is a customer-focused homebuilder, operating at a local
level from 22 regional businesses across the UK. We also have operations in
Spain.

For further information, please visit the Group's website:
www.taylorwimpey.co.uk

Follow our company page on LinkedIn, Taylor Wimpey plc

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