Keller Group PLC

Latest Results (15.10.2025):

Keller Group PLC has reported a record-breaking year for the financial year ended 31 December 2023, demonstrating substantial growth and strengthening its foundation for long-term expansion. The company achieved significant improvements in key financial metrics, underscoring its resilient performance across various regions and business segments.

Revenue Stability

The Group reported revenue of £2,966.0 million, maintaining a level similar to the previous year, reflecting stable market demand and consistent business operations.

Enhanced Profitability

Underlying operating profit surged by approximately 80% compared to the five-year average, reaching £180.9 million. The underlying operating profit margin exceeded 6% for the first time in eight years, driven by improved performance in key areas.

Return on Capital Employed

Underlying ROCE increased to 22.8%, up from 14.9% in 2022, marking the highest return on capital employed in 15 years and highlighting efficient capital utilization.

Strong Earnings per Share

Underlying diluted earnings per share rose by 53% to 153.9p, while statutory diluted EPS increased by 93% to 120.5p, reflecting substantial profit growth and shareholder value enhancement.

Free Cash Flow and Debt Reduction

Free cash generation exceeded £100 million, accelerating the reduction of net debt by 33% to £146.2 million. This achievement positions the net debt/EBITDA leverage ratio at 0.6x, moving towards the lower end of the target range.

Robust Order Book

The year-end order book stood strong at £1.5 billion, indicating sustained demand and a solid pipeline for future projects.

Strategic Portfolio Rationalisation

Keller successfully executed its strategy by continuing portfolio rationalisation, including exiting Cyntech Tanks, Egypt, Sub-Saharan Africa, and Kazakhstan, to focus on core growth areas.

Dividend Rebasement

In recognition of the excellent performance and future prospects, the Board has recommended a 20% increase in the total dividend for 2023, reflecting confidence in the Group’s ongoing success.

Looking Ahead to 2024

The Group anticipates continued underlying progress in 2024, supported by diverse revenue streams and improved operational delivery, with plans to pursue organic growth and targeted M&A opportunities to drive long-term expansion.