Vital to the UK
Annual Report and Accounts 2023
Financial highlights
Total Group revenue - including joint ventures1
£3.4bn
2022: £3.3bn
Profit from operations1
£81.5m
2022: £45.1m
Earnings per share1,4
9.5p
2022: 2.9p
Order book
£10.1bn
2022: £9.8bn
Net debt - average3
£(232.1)m
2022: £(216.1)m
Total Group revenue - excluding joint ventures1
£3.4bn
2022: £3.1bn
Adjusted operating profit from operations1,2
£131.5m
2022: £120.5m
Earnings per share before adjusting items1,4
19.2p
2022: 16.8p
Net cash - 30 June3
£64.1m
2022: £2.9m
Strategic report | Financial statements | ||
2 | Kier at a glance | 158 | Independent auditors' report |
6 | Chairman's statement | to the members of Kier Group plc | |
8 | Chief Executive's review | 166 Consolidated income statement | |
16 | Our business model | 167 | Consolidated statement of |
20 | Our strategy | comprehensive income | |
24 | Operational review | 168 Consolidated statement of changes | |
32 | Our marketplace | in equity | |
40 | Our key performance indicators | 169 Consolidated balance sheet | |
42 | Building for a Sustainable World | 170 Consolidated statement of cash flows | |
62 | TCFD report | 171 | Notes to the consolidated |
70 | Our stakeholders | financial statements | |
74 | How we manage risk | 236 Company balance sheet | |
84 | Financial review | 237 Company statement of changes | |
90 | Section 172 statement | in equity | |
91 | Non-financial and sustainability | 238 Notes to the Company | |
information statement | financial statements |
Governance | Other information | |
92 | Governance at a glance | 242 Financial record |
93 | Chairman's introduction | 243 Glossary of alternative |
to corporate governance report | performance measures | |
94 | Board of Directors | |
96 | Corporate governance |
104 Risk Management and Audit Committee report
112 Environmental, Social and Governance Committee report
116 | Nomination Committee report |
120 | Directors' Remuneration report |
154 | Directors' report |
157 | Statement of Directors' |
- See consolidated income statement on page 166.
- See note 5 to the consolidated financial statements.
- See note 22 to the consolidated financial statements.
- See note 12 to the consolidated financial statements.
responsibilities |
Our purpose is to sustainably deliver infrastructure which is vital to the UK
Strategic report | Corporate governance | Financial statements | Other information |
Tackling climate change
Embedding sustainable construction practices into our projects and leading the way in the UK's transition to net zero.
Addressing population growth
Delivering the infrastructure and construction required by the growth of the UK's population.
Easing congested transport
Providing capital work and the maintenance of the UK's road network and supporting additional capacity on the rail network.
Throughout this report we outline our vision, values and our strategy to illustrate how Kier is vital to the UK.
Addressing geographic imbalance
UK-wide geographic coverage serving communities and providing jobs and opportunities across the UK.
Supporting changing consumer trends
Delivering social infrastructure to support changes in the way we live and work.
Unlocking economic growth
Counter-cyclical business delivering projects to connect communities.
More on Our marketplace from page 32
www.kier.co.uk| Kier Group plc Annual Report and Accounts 2023 | 1 |
Kier at a glance
Our vision is to
be the UK's leading infrastructure services and construction company
Kier in numbers:
+21,000km
Of roads maintained
c.47,000
School places delivered for the
Department of Education over 6 years
c.10m
Homes we help to keep powered
646
Apprenticeship opportunities delivered
Our values
Trusted
We deliver what we promise. We act safely and ethically and we care for the environment and the communities in which we work.
Collaborative
We enjoy what we do and work closely with clients and stakeholders to reach innovative solutions.
Focused
We are clear in our approach. We are disciplined and thorough in how we work and deliver for our clients and customers.
2 | Kier Group plc Annual Report and Accounts 2023 | www.kier.co.uk |
Our strategy
The Group is focused on the successful delivery of its medium-term targets:
- Revenues of c.£4.0bn-£4.5bn
- Adjusted operating margin of c.3.5%
- Operating profit cash conversion c.90%
- Balance sheet: sustainable net cash position with capacity to invest
- Dividend: Sustainable dividend policy c.3 x earnings cover through the cycle
Kier:
Is focused on government, regulated or blue-chip client base
Operates in business- to-business markets
Contracts through long-term frameworks
Our strategy from page 20
Sustainability
Lives at the heart of our purpose and informs everything we do at Kier
More on sustainability from page 42
Creating value for our stakeholders
Our shareholders
£132.3m
Free cash flow generated
Our people
c.10,000
Employees
Our supply chain
c.69%
Subcontract spend with SMEs
Communities
£487k
Donated to youth homelessness charities throughout the partnership
See Our stakeholders on page 70 for more information on how we engage with them
Strategic report | Corporate governance | Financial statements | Other information |
Governance
The Board has continued its focus on the delivery of our strategy and medium-term value creation plan ensuring we promote long-term success and generate value for shareholders and stakeholders.
An overview of our corporate governance structure, policies and practices as well as the key activities undertaken by the Board and its Committees are set out in the Corporate governance report.
More on Governance from page 92
www.kier.co.uk| Kier Group plc Annual Report and Accounts 2023 | At a glance | 3 |
Attention: This is an excerpt of the original content. To continue reading it, access the original document here. |
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
Kier Group plc published this content on 06 October 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 06 October 2023 11:11:10 UTC.