Billington Holdings Plc (LON:BILN), one of the UK’s leading structural steel and construction safety solutions specialists, has announced its unaudited interim results for the six months ended 30 June 2025.
| Unaudited six months to 30 June 2025 | Unaudited six months to 30 June 2024 | Percentage Movement | |
| Revenue | £41.78m | £57.90m | -27.84% |
| EBITDA* | £2.68m | £5.32m | -49.62% |
| Profit before tax | £1.67m | £4.64m | -64.01% |
| Cash and cash equivalents | £18.73m | £21.87m | -14.36% |
| Basic Earnings per share (EPS) | 9.8p | 27.6p | -64.49% |
* Earnings before interest, tax, depreciation and amortisation
Highlights
| • | Revenue decreased to £41.78 million (H1 2024: £57.90 million) reflecting the increase in complex, labour intensive contracts with a lower proportion of steel content relative to productive labour requirements. H1 2025 productive hours increased by 5.4% compared to H1 2024 |
| • | Profit before tax of £1.67 million (H1 2024: £4.64 million) |
| • | Strong cash balance of £18.73 million as at 30 June 2025 (31 December 2024: £21.70 million and 30 June 2024: £21.87 million) |
| • | Operationally strong performance against a backdrop of challenging market conditions with pricing pressure for new work evident in the market |
| • | The Group has a very healthy order book, particularly relating to the quantum of productive hours secured, providing good visibility for the remainder of 2025 and into 2026 |
| • | It is anticipated that due to client led contract delays and the associated timing of profit recognition the results for the year ended 31 December 2025 will be below market expectations. FY26 remains in line with market expectations |
| • | Trevor Taylor CFO to move to new Board role of COO. Dave Jones promoted to CFO; further details provided below |
Mark Smith, Chief Executive Officer of Billington, commented:
“Following a strong performance by Billington in 2024 it is unfortunate that the market for structural steelwork and the construction industry more widely has, as a result of economic uncertainty and lack of consumer confidence, become increasingly subdued during the first half of 2025. However, despite the challenging market conditions Billington has increased productive output in the first half of the year and has a healthy contracted order book, in more buoyant sectors, for delivery during 2025 and into 2026.
“The timing of profit recognition on certain significant contracts, as a consequence of client led project delays, will result in the recognition of margin later than was previously anticipated. We are optimistic that the market will see some recovery in 2026 as stability and increased confidence returns to the sector. Billington, with its strong balance sheet and significant cash resources is well positioned to take advantage of improved market conditions.”
