London · Delayed Price · Currency is GBP · Price in GBX Hargreaves Services Earnings Call Transcripts
Fiscal Year 2026
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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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Focus is on expanding services and launching a disruptive zinc recycling project in Germany, supported by strong infrastructure demand and sustainability trends. The new zinc plant, backed by government funding, targets a market gap and is expected to be operational by 2027, enhancing long-term value.
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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.