Interserve Annual Report
News Release
27 February 2013
STRONG PERFORMANCE AND GOOD STRATEGIC PROGRESS
Annual Results 2012
Interserve, the international support services and construction group, reports a strong performance with its annual results for the year ended 31 December 2012. 2012 Revenue Headline pre-tax profit* Profit before tax Underlying Headline earnings per share* Net cash / (debt) Full-year dividend Financial highlights Strong future workload up 12.5 per cent to £6.3 billion, as at 31 December 2012 (FY 2011: £5.6 billion) and £2.7 billion of new business won in the year Strong operational performance: underlying headline EPS up 8.0 per cent and dividend up 7.9 per cent Three year rolling average operating cash conversion of 116.8 per cent (2011: 155.3 per cent) Strong net cash position of £25.8 million Extended and secured long-term banking facilities Capacity of more than £250 million available to fund strategic growth opportunities £1,958.4m £78.4m £182.9m 47.2p £25.8m 20.5p 2011 £1,847.5m £72.8m £67.1m 43.7p £(44.2)m 19.0p +7.9% +6.0% +7.7% +172.6% +8.0%
Strategic highlights Realised £174 million of value from our PFI portfolio of which we have: a) Invested £67 million, acquiring businesses in growth markets (frontline services, oil and gas) b) Transferred £55 million into the pension scheme Organic expansion into new sectors (e.g. energy from waste, justice) Geographical expansion (e.g. Saudi Arabia, Chile, Panama) Developed plans for the imminent launch of SustainAbilities to transform our approach to social, environmental, and knowledge sustainability.
INTERSERVE ANNUAL RESULTS 2012
Chief Executive Adrian Ringrose commented:
...2
“2012 was a very good year for Interserve, in mixed market conditions. We grew earnings, generated strong cash flow and made good strategic progress. “We won over £2.7 billion of work during the year, expanding our future workload to £6.3 billion. We have confidence in our ability to make further
27 February 2013
STRONG PERFORMANCE AND GOOD STRATEGIC PROGRESS
Annual Results 2012
Interserve, the international support services and construction group, reports a strong performance with its annual results for the year ended 31 December 2012. 2012 Revenue Headline pre-tax profit* Profit before tax Underlying Headline earnings per share* Net cash / (debt) Full-year dividend Financial highlights Strong future workload up 12.5 per cent to £6.3 billion, as at 31 December 2012 (FY 2011: £5.6 billion) and £2.7 billion of new business won in the year Strong operational performance: underlying headline EPS up 8.0 per cent and dividend up 7.9 per cent Three year rolling average operating cash conversion of 116.8 per cent (2011: 155.3 per cent) Strong net cash position of £25.8 million Extended and secured long-term banking facilities Capacity of more than £250 million available to fund strategic growth opportunities £1,958.4m £78.4m £182.9m 47.2p £25.8m 20.5p 2011 £1,847.5m £72.8m £67.1m 43.7p £(44.2)m 19.0p +7.9% +6.0% +7.7% +172.6% +8.0%
Strategic highlights Realised £174 million of value from our PFI portfolio of which we have: a) Invested £67 million, acquiring businesses in growth markets (frontline services, oil and gas) b) Transferred £55 million into the pension scheme Organic expansion into new sectors (e.g. energy from waste, justice) Geographical expansion (e.g. Saudi Arabia, Chile, Panama) Developed plans for the imminent launch of SustainAbilities to transform our approach to social, environmental, and knowledge sustainability.
INTERSERVE ANNUAL RESULTS 2012
Chief Executive Adrian Ringrose commented:
...2
“2012 was a very good year for Interserve, in mixed market conditions. We grew earnings, generated strong cash flow and made good strategic progress. “We won over £2.7 billion of work during the year, expanding our future workload to £6.3 billion. We have confidence in our ability to make further