London · Delayed Price · Currency is GBP · Price in GBX Hargreaves Services Earnings Call Transcripts
Fiscal Year 2026
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Revenue rose 30% year-over-year, with all business units achieving growth and record profitability. Cash generation enabled GBP 32.6 million in shareholder returns, while the group maintained a strong balance sheet and advanced key projects like the zinc recycling plant.
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Strong cash position and 41% services revenue growth enabled a £15m tender offer and dividend hike. Land and renewables sales boosted profits, while a new zinc recycling project in Germany offers significant upside but carries execution risk.
Fiscal Year 2025
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Strong growth in services and infrastructure is underpinned by robust contracts, a resilient operating model, and a pipeline of major UK projects. The German business is launching a disruptive zinc recycling technology, targeting a 20% ROIC and supported by government grants, with significant expansion potential.
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Revenue grew 25% year-over-year, driven by strong services performance and resilient margins. Land and renewables sales are expected to unlock significant cash, while the German joint venture continues to deliver steady profits. Dividend increased 3% amid a robust balance sheet.
Fiscal Year 2024
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Profit before tax fell to £16.9m due to German headwinds, but services and land segments showed growth, and the dividend was rebased to £0.36 per share, supported by strong cash flow and a pension buyout. Renewables and land asset sales are expected to unlock significant value.