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

Van Elle HoldingsAnnouncement

05/06/2025 07:00

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RNS Number : 5028L  Van Elle Holdings PLC  05 June 2025

 

Van Elle Holdings plc

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

 

Pre-close Trading Update

Notice of Results

Analyst Briefing & Investor Presentation

 

Van Elle Holdings plc, the UK's largest ground engineering contractor,
provides an update on trading for the 12 months ended 30 April 2025 ("FY25" or
the "Period").

 

Full Year Trading Update

Group revenue for the year is expected to be £134m, approximately 4% below
the previous year, reflecting the challenging market conditions that have
prevailed throughout the Period. As previously announced, the Group
experienced subdued activity levels and widespread delays to contract start
dates, in particular due to significant delays to Building Safety Act ('BSA')
approvals. The start of several major contracts which were due to commence in
the final quarter of FY25 have now been deferred into FY26, impacting the
final quarter performance.

 

Despite these challenges, as a result of a strong operational performance the
Group delivered stable gross margins and with a focus on cash management,
undertook several cost saving initiatives. Consequently, underlying profit
before tax for FY25 is now expected to be approximately £3.5m.

 

The balance sheet remains strong. Net cash as at 30 April 2025 (excluding IFRS
16 property and vehicle lease liabilities) was £1.0m (30 April 2024: £5.5m)
after investment for growth in capital equipment and acquisitions, including
the final consideration payment of £1.9m for Rock & Alluvium, and the
initial net cash consideration of £1.3m for Albion Drilling. The Group's
current funding facility of £8.0m has £6.5m available for drawdown,
providing significant liquidity headroom.

 

We are pleased to report that the order book has grown to £41.5m as at 30
April 2025 (30 April 2024: £35.1m), which excludes an industrial sector
contract of approximately £10m, which was awarded to the Group's General
Piling division in May.

 

Chief Executive, Mark Cutler, commented: "The last 12 months have been
challenging for the business, and although it is disappointing that a recovery
in activity levels didn't materialise as expected, against a volatile backdrop
the performance as a whole demonstrates the progress made over recent years.

 

"Through organic initiatives and selective, strategic M&A, Van Elle now
provides a wider and more diverse range of service offerings and is very well
positioned across a range of attractive growth markets aligned to the UK
Government's investment priorities.

 

"Amongst an increasing number of frameworks, the Group has agreed two more
customer partnerships in the energy and water sectors and has a growing order
book, underpinning our confidence in delivering strong growth in revenues and
profitability when markets recover."

 

Notice of results

The Company expects to announce its results for the year ended 30 April 2025
on 23 July 2025.

 

Analyst Briefing: 10.00am on Wednesday 23 July 2025

An online briefing for Analysts will be held at 10.00am, Wednesday 23 July
2025. Analysts interested in attending should contact Walbrook PR on
vanelle@walbrookpr.com (mailto:vanelle@walbrookpr.com) or 020 7933 8780.

 

Investor Presentation: 3.30pm on Wednesday 23 July 2025

Mark Cutler, Chief Executive Officer, and Graeme Campbell, Chief Financial
Officer, will hold a presentation to review the results and update its growth
strategy at 3.30pm on Wednesday 23 July 2025, 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.

 

 

Certain information contained in this announcement would have constituted
inside information (as defined by Article 7 of Regulation (EU) No 596/2014),
as it forms part of domestic law by virtue of the European Union (Withdrawal)
Act 2018) ("MAR") prior to its release as part of this announcement and is
disclosed in accordance with the Company's obligations under Article 17 of
those Regulations.

 

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 Joint Broker)            Tel: 020 7418 8900

 Ed Allsopp

 Charlotte Sutcliffe

 Tom Graham

 Dowgate Capital Limited (Joint Broker)                        Tel: 020 3903 7715

 James Serjeant

 Nicholas Chambers

 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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