Billington Holdings Plc (LON:BILN), one of the UK’s leading structural steel and construction safety solutions specialists, has announced its audited results for the year ended 31 December 2025.
Highlights
| 31 December 2025 | 31 December 2024 | |
| Revenue | £95.7m | £113.1m |
| EBITDA* | £6.1m | £12.4m |
| Underlying profit before tax** | £4.1m | £10.8m |
| Profit before tax | £1.3m | £10.8m |
| Profit for the year | £1.3m | £8.3m |
| Cash and cash equivalents | £20.5m | £21.7m |
| Underlying basic earnings per share | 27.1p | 66.2p |
| Basic earnings per share | 10.4p | 66.2p |
| Dividend per share | 11.0p | 25.0p |
| Return on Capital Employed (ROCE)*** | 11.9% | 36.9% |
* Earnings before interest, tax, depreciation, amortisation and non-underlying costs
** Profit before tax before £2.8 million of non-underlying staff costs, other operating charges and impairment losses
*** Underlying operating profit divided by average total equity less the net defined benefit pension surplus and net cash
| • | Billington delivered a robust performance in 2025 against the backdrop of challenging market conditions, pricing pressure across the industry and client led contract slippage |
| • | Revenue reduced by 15.4% to £95.7 million (2024: £113.1 million), despite a 4.2% increase in Group productive hours, reflective of the Group’s focus on more complex projects with reduced steel content |
| • | Underlying profit before tax of £4.1 million and £2.8 million of non-underlying costs incurred in the year, primarily as a result of the closure of the Group’s Yate facility, resulting in a profit before tax of £1.3 million (2024: £10.8 million) |
| • | Strong cash balance of £20.5 million maintained at year end (2024: £21.7 million) and the Group remains debt free |
| • | Strong level of production hours secured for projects due to be delivered in 2026 and 2027 |
| • | In line with the Board’s policy for the Company to be paying dividends at a level that reflects underlying earnings, whilst continuing to maintain a robust balance sheet, a dividend of 11.0 pence per share in respect of 2025 (25.0 pence per share paid in respect of 2024) is recommended |
Mark Smith, Chief Executive Officer of Billington, commented:
“Billington delivered a robust performance in 2025 against the backdrop of very challenging market conditions and with continuing pricing pressure across the sector. Despite this, we maintained strong operational output, protected margins and secured a number of technically demanding, higher-value contracts that provide good visibility into 2026. The consolidation of our structural steel operations in Barnsley, alongside continued investment in capacity and capability, has improved our cost base and operational efficiency. With a healthy order book, growing pipeline of opportunities and a robust balance sheet, we entered 2026 with increased confidence and expect to deliver an improved financial performance in 2026, in line with market expectations.”
