BILLINGTON HOLDINGS PLC - Results for the year ended 31 December 2025

Billington Holdings PLC’s 2025 investor update highlights resilient company performance despite lower revenue of £95.7 million, driven by a smaller number of highly complex projects with reduced steel content and client-led contract delays. The group reported an underlying operating margin of 3.6%, maintained a strong £20.5 million cash balance, remained debt-free, and proposed an 11p dividend, underlining balance sheet strength and disciplined capital allocation. Management emphasized a robust and diversified order book extending through 2026 and into 2027, with exposure to growth sectors including energy from waste, data centres, defence, education, and carbon capture. Strategic progress included completion of the five-year capital investment programme, full operation of the new Tubecon facility, consolidation of structural steel operations into Barnsley, and continued investment in productivity, efficiency, and margins. While profitability was affected by a subdued macroeconomic backdrop and deferred margin recognition, the company expects improved revenue, EBITDA, and margin performance in 2026 as contract mix normalises. With strong cash reserves, owned property assets, a healthy pension surplus, and selective acquisition opportunities under review, Billington presents an investor-friendly outlook supported by operational modernisation, disciplined risk management, and long-term growth strategy.