REG - Van Elle Holdings - Trading Update, Notice of Results & Investor Pres

Van Elle HoldingsAnnouncement

12/12/2024 07:00

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RNS Number : 7391P  Van Elle Holdings PLC  12 December 2024

12 December 2024

 

Van Elle Holdings plc

('Van Elle', the 'Company' or the 'Group')

 

First Half Trading Update

Notice of Results

Analyst Briefing & Investor Presentation

 

Van Elle Holdings plc (AIM: VANL), the UK's largest ground engineering
contractor, today provides a trading update for the six months ended 31
October 2024 (the 'Period').

 

Trading update

The Group expects to report revenue for the Period of approximately £65m
(HY2024: £68m), representing a decrease of 5% on the prior year.

 

Market conditions have continued to be challenging across all sectors.
Workload has been subdued in Rail, as the sector transitions from CP6 into
CP7, and Highways continues to experience project delays. The impact of the
Building Safety Act has caused delays to start dates of taller residential
schemes however encouragingly the new build housing sector has continued to
recover, with a strong pipeline of work planned for delivery throughout the
second half of the financial year.

 

The Group has made further progress in developing a strong position in the
water and energy sectors and the recent acquisition of Albion Drilling
('Albion') provides additional momentum in Scotland, where new contracts in
the energy sector have been awarded for commencement in Q4 FY2025. Albion's
trading in the period post completion is in line with pre-acquisition
expectations.

 

Further to the two contract awards announced on 25 October 2024, growth
continues in Canada with the award of a new three-year framework agreement in
November for the delivery of Metrolinx renewals projects worth approximately
CAD$9m to the Group, commencing in Q4 FY2025.

 

The order book as at 31 October 2024 increased to £41.6m (30 April 2024:
£35.1m), including £1.4m from the acquisition of Albion. The order book
excludes framework agreements and preferred bidder positions.

 

The Board continues to expect results for the full year in line with market
consensus(1), and as previously communicated, anticipates profitability being
second half weighted.

 

Notice of results

The Company expects to announce its half-year results for the six months ended
31 October 2024 on Wednesday, 29 January 2025.

 

Analyst Briefing: 10.00am, Wednesday 29 January 2025

A briefing for Analysts will be held at 10.00am on the morning of the results.
Analysts interested in attending should contact Walbrook PR
on vanelle@walbrookpr.com or 020 7933 8780.

 

Investor Presentation: 3.30pm, Wednesday 29 January 2025

Mark Cutler, Chief Executive Officer, and Graeme Campbell, Chief Financial
Officer, will hold a presentation to review the results and outlook at 3.30pm
on 29 January 2025. The presentation will be hosted through the digital
platform Investor Meet Company.

 

Investors can sign up to Investor Meet Company for free and add to meet Van
Elle Holdings plc via the following link
https://www.investormeetcompany.com/van-elle-holdings-plc/register-investor
(https://www.investormeetcompany.com/van-elle-holdings-plc/register-investor)
.

 

Investors who have already registered and added to meet the Company will
automatically be invited. Questions can be submitted pre-event to
vanelle@walbrookpr.com (mailto:vanelle@walbrookpr.com) , or in real time
during the presentation via the "Ask a Question" function.

 

 

(1) Company compiled analyst consensus for FY2025 underlying profit before tax
is £6.0m.

 

 

For further information, please contact:

 Van Elle Holdings plc                                   Via Walbrook

 Mark Cutler, Chief Executive Officer

 Graeme Campbell, Chief Financial Officer

 Peel Hunt LLP (Nominated Adviser and corporate broker)  Tel: 020 7418 8900

 Ed Allsopp

 Charlotte Sutcliffe

 Tom Graham

 Walbrook PR Limited                                     Tel: 020 7933 8780

                                                         or vanelle@walbrookpr.com
 Tom Cooper                                              07971 221 972

 Nick Rome                                               07748 325 236

 

 

About Van Elle Holdings plc:

 

Van Elle Holdings is the UK's largest specialist geotechnical engineering
contractor. Formed in 1984 and listed on AIM in 2016, the Company provides a
wide range of ground engineering techniques and services including ground
investigation, general and specialist piling, rail geotechnical engineering,
modular foundations, and ground improvement and stabilisation services.

 

Van Elle operates through three divisions: General Piling, Specialist Piling
and Rail, and Ground Engineering Services; and is focused on diverse end
markets including residential and housing, infrastructure and regional
construction - across which the Group has completed more than 20,000 projects
over the last 35 years.

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