TIDMCLLN
RNS Number : 8713Q
Carillion PLC
03 March 2016
3 March 2016
Annual results for the year ended 31 December 2015
Performance in line with expectations
2015 2014 Change
-------------------------------- ------------ ------------ ---------
Revenue GBP4,586.9m GBP4,071.9m +13%
-------------------------------- ------------ ------------ ---------
Underlying profit from
operations(1) GBP234.4m GBP216.9m +8%
-------------------------------- ------------ ------------ ---------
Underlying operating margin(1) 5.3% 5.6% n/a
-------------------------------- ------------ ------------ ---------
Underlying profit before
taxation(1) GBP176.5m GBP172.9m +2%
-------------------------------- ------------ ------------ ---------
Underlying earnings per
share(1) 35.0p 33.7p +4%
-------------------------------- ------------ ------------ ---------
Profit before taxation GBP155.1m GBP142.6m +9%
-------------------------------- ------------ ------------ ---------
Basic earnings per share 30.9p 28.0p +10%
-------------------------------- ------------ ------------ ---------
Proposed full-year dividend
per share 18.25p 17.75p +3%
-------------------------------- ------------ ------------ ---------
Underlying profit from
operations cash conversion(1) 104% 119% n/a
-------------------------------- ------------ ------------ ---------
-- Financial performance in line with expectations
- Strong revenue growth of 13%, of which 10% was organic, with
organic growth in all business segments
- Good growth in underlying profit before taxation and earnings per share
- Strong underlying cash flow from operations
- Net borrowing reduced to GBP169.8 million at 31 December 2015 (2014: GBP177.3 million)
- Considerable financial strength with some GBP1.4 billion of
funding available to support our strategy for growth
-- Robust, high-quality order book and a growing pipeline of contract opportunities
- New orders and probable orders worth GBP3.7 billion (2014:
GBP5.1 billion), reflecting the expected impact in the first half
of the UK General Election, with GBP2.7 billion secured in the
second half of the year
- Total value of secured and probable orders remained strong at
GBP17.4 billion (2014: GBP18.6 billion), after removing GBP0.3
billion from the order book due to selling equity investments in
Public Private Partnership projects
- Strong revenue visibility(2) for 2016 of 84% (2014: 85% for 2015)
- Awarded framework agreements worth over GBP2.0 billion, which
is not yet included in the order book or in probable orders, but
will give further revenue growth opportunities
- Pipeline of specific contract opportunities increased to
GBP41.4 billion (2014: GBP39.2 billion) in markets offering good
growth potential
-- Proposed full-year dividend increased by 3% to 18.25p (2014: 17.75p)
-- Well positioned to make further progress in 2016
(1) The underlying results stated above are based on
the definitions included in the key financial figures
on page 3.
(2) Based on expected revenue and secure and probable
orders, which exclude variable work, frameworks
and re-bids.
Carillion Chairman, Philip Green, commented:
"Our performance in 2015 reflects the benefits of our consistent
and successful strategy, which enabled us to rescale and reposition
our business during the economic downturn in order to take
advantage of opportunities for growth as market conditions improve.
Growth in revenue, underlying profit before taxation and earnings
per share was primarily organic, following the successful
mobilisation of a number of major new contracts, supplemented by
two bolt-on acquisitions, the Rokstad Corporation and the Outland
Group, which have significantly enhanced our support services
business in Canada. With a strong, high-quality order book, a large
and growing pipeline of contract opportunities and the financial
strength to support our strategy for growth, the Group is well
positioned to make further progress in 2016."
There will be a presentation for analysts and investors today at
09.00am with a telephone facility available tel: primary number +44
(0) 844 800 3850 - Access Code: 635 277. A replay facility is also
available for 30 days, the telephone number is +44 (0) 207 136 9233
- Access Code: 21434873.
If dialling in from overseas, please review the link attached
for your dial in telephone number
http://www.conferencingsupport.com/globalaccess/?bid=00&itfn=1&ddi=1&ref.
Carillion's Analyst Presentation will be available for analysts and
investors who are unable to attend the presentation. The
presentation can be viewed on Carillion's website at
http://www.carillionplc.com/investors/reports-presentations.aspx
For further information contact:
Richard Adam, Group Finance tel: +44 (0) 1902 422431
Director tel: +44 (0) 1902 422431
John Denning, Group Corporate tel: +44 (0) 20 7251 3801
Affairs Director
Finsbury - James Murgatroyd
and Gordon Simpson
3 March 2016
Notes to Editors:
Carillion is a leading integrated support services company with
a substantial portfolio of Public Private Partnership projects,
extensive construction capabilities and a sector leading ability to
deliver sustainable solutions. The Group had annual revenue in 2015
of some GBP4.6 billion, employs around 46,000 people and operates
across the UK, in the Middle East and Canada.
The Group has four business segments:
Support services - this includes facilities management,
facilities services, energy services, utilities services, road
maintenance, rail services, remote site accommodation services and
consultancy services in the UK, Canada and the Middle East.
Public Private Partnership (PPP) projects - this includes
investing activities in PPP projects for Government buildings and
infrastructure mainly in the Defence, Health, Education, Transport
and Secure accommodation sectors in the UK and Canada.
Middle East construction services - this includes building and
civil engineering activities in the Middle East.
Construction services (excluding the Middle East) - this
includes building, civil engineering and developments activities in
the UK and construction activities in Canada.
This and other Carillion news releases can be found at
www.carillionplc.com.
Photographs:
High resolution photographs are available free of charge to the
media at www.newscast.co.uk telephone + 44 (0) 208 886 5895.
Cautionary statement
This announcement may contain indications of likely future
developments and other forward-looking statements that are subject
to risk factors associated with, among other things, the economic
and business circumstances occurring from time to time in the
countries, sectors and business segments in which the Group
operates. These and other factors could adversely affect the
Group's results, strategy and prospects. Forward-looking statements
involve risks, uncertainties and assumptions. They relate to events
and/or depend on circumstances in the future which could cause
actual results and outcomes to differ materially from those
currently anticipated. No obligation is assumed to update any
forward-looking statements, whether as a result of new information,
future events or otherwise.
Click on, or paste the following link into your web browser, to
view the associated PDF document.
http://www.rns-pdf.londonstockexchange.com/rns/8713Q_1-2016-3-2.pdf
This information is provided by RNS
The company news service from the London Stock Exchange
END
FR BCGDXRUGBGLD
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March 03, 2016 02:01 ET (07:01 GMT)
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