Within the 12 months to 31st December 2024, Balfour Beatty % larger earnings by way of 4% to £10,015m (2023: £9,595m).
Underlying working make the most of earnings-based companies was once up 7% to £252m (2023: £236m). Alternatively, precise pre-tax benefit was once down 12% at £214m (2023: £244m).
UK building contributed £3.0bn to team earnings right through the 12 months, with an additional £3.6bn coming from US building and £1.5bn coming from the Gammon, the Hong Kong three way partnership with Jardine Matheson.
The United Kingdom building trade delivered an underlying working margin of two.7% (up from 2.3% in 2023) in comparison to 2.5% in Hong Kong and simply 1.1% in the United States.
The decline in profitability of the USA building trade was once attributed to the price of delays at a small selection of civils initiatives.
Conversely, UK margins are at the up and anticipated to beef up additional each this 12 months and subsequent, placing the three% working margin goal neatly inside succeed in.
Balfour Beatty’s order ebook grew by way of 12% in 2024 to £18.4bn (2023: £16.5bn). Whilst its UK building order ebook grew simplest marginally, from £6.1bn to £6.2bn, its order ebook for energy transmission and distribution paintings greater than doubled.
The ability transmission community is being upgraded and the call for for engineering and building experience outweighs provide, Balfour Beatty says.
All through 2024 Balfour Beatty completed wiring all 116 T-Pylons and setting up an additional 27 conventional lattice pylons at the Hinkley Level C Connection challenge for Nationwide Grid. The Viking Hyperlink interconnector, the longest interconnector on the earth for which Balfour Beatty built the 65km UK onshore underground cable path, is now are living and transmitting energy between the United Kingdom and Denmark. Balfour Beatty additionally finished 62km of overhead line refurbishment between Bramford and Norwich, started to transition 3.5km of overhead strains within the North Wessex Downs to underground cables, passed again the primary leg of the London Energy Tunnels 2 challenge and energised the general circuit on the 400kV Littlebrook Substation.
Crew leader govt Leo Quinn, who introduced closing week that he’s to step down in September, mentioned: “The crowd made additional sturdy growth in 2024. We as soon as once more delivered controlled successful expansion from our earnings-based companies and wholesome money era, whilst additionally expanding our top quality order ebook.
“The board continues to believe in Balfour Beatty’s ongoing skill to ship sustainable money era for vital shareholder returns, as evidenced by way of our announcement of larger dividends and percentage buybacks for 2025. Balfour Beatty is definitely located to proceed its disciplined efficiency within the medium time period, with sturdy order ebook visibility, horny alternatives in our expansion markets of UK power, delivery and defence, and US structures, and our professional, extremely engaged personnel positioning the crowd for ongoing good fortune.”
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