London · Delayed Price · Currency is GBP · Price in GBX Speedy Hire Earnings Call Transcripts
Fiscal Year 2026
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Resilient revenue and strong cash flow were achieved despite a challenging UK construction market, with EBITDA down 12% year-over-year. Major contracts and the ProService integration are driving growth, while cost reductions and operational efficiencies position the group for improved margins in FY 2027.
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Strategic progress continued with the ProService deal, securing over £90 million in annualized revenue opportunities and improving asset utilization. Despite subdued markets and lower margins, strong cash conversion and new contract wins support a positive outlook.
Fiscal Year 2025
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Revenue (ex-fuel) grew 1.3% year-over-year, with gross margin and cash conversion improving despite challenging market conditions. Strategic investments in fleet, digital transformation, and ESG leadership position the business for gradual recovery and future growth.
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Gross margin improved to 56% and EBITDA margin held at 22% despite revenue softness and higher staff costs. Strong cash conversion enabled increased CapEx and the Green Power Hire acquisition, which is now earnings enhancing. Full-year expectations remain on track.
Fiscal Year 2024
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Revenue and hire income declined year-over-year due to tough market conditions, but gross and EBITDA margins were maintained and free cash flow more than doubled. Significant contract wins, digital transformation, and sustainability initiatives position the business for growth, with a strong outlook and robust capital allocation.