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Mitie Group Reports Strong Full Year Results with 13% Revenue Growth

Why we think this is good

The facilities management giant has delivered a robust performance with 13% revenue growth and 11% increase in operating profit before Other items. While the 3% growth in basic EPS is more modest, it still represents progress. The company's strong free cash flow generation of £143m and record contract awards demonstrate operational strength. However, the slight decline in operating margin and increased net debt temper the overall positive picture. The outlook remains promising, with good momentum entering FY26 and growing confidence in delivering the Three-Year Plan targets. The company's strategic acquisitions and expanding order book further support a positive outlook, despite some challenges in specific areas like the telecoms infrastructure business.

Key Points

  • Revenue up 13% to £5,091m, including 9% organic growth
  • Operating profit before Other items up 11% to £234.1m
  • Basic EPS before Other items up 3% to 12.7p
  • Record contract awards up 21% to £7.5bn TCV
  • Total order book up 35% to £15.4bn
  • Strong free cash flow generation of £143m
  • Closing net debt increased to £199m (FY24: £81m)
  • Operating profit margin before Other items slightly down at 4.6% (FY24: 4.7%)
  • Recommended final dividend of 3.0p per share, total dividend up 8% to 4.3p
  • £100m share buyback programme completed; new £125m programme launched
  • Three strategic acquisitions completed for £48m total consideration

Summary

This facilities management powerhouse reported a 13% revenue surge and 11% operating profit growth, underpinned by record contract awards and a robust order book, signaling strong operational momentum despite some margin pressure.

Mitie Group plc has delivered strong financial results for the year ended 31 March 2025, with revenue up 13% to £5,091m and operating profit before Other items increasing by 11% to £234.1m. The company demonstrated robust operational performance with record contract awards up 21% to £7.5bn and a 35% increase in total order book to £15.4bn. Despite these positive indicators, there was a slight decline in operating margin before Other items to 4.6% (FY24: 4.7%) due to investments and losses in the telecoms infrastructure business. The company maintained strong free cash flow generation of £143m but saw an increase in closing net debt to £199m. Looking ahead, Mitie enters FY26 with good momentum and growing confidence in delivering its Three-Year Plan targets, supported by strategic acquisitions and a growing pipeline of bidding opportunities. The recommended final dividend of 3.0p per share brings the total dividend for the year to 4.3p, an 8% increase from the previous year.

Key Dates

22 July 2025
Annual General Meeting
4 August 2025
Final dividend payment
Late October 2025
HMP Millsike contract commencement
Q4 2025
Interim results for H1 FY26 expected
ANNUAL RESULTS