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The Future of High Performing Places
We have made good strategic, operational and financial progress in the Foundation Year of our Facilities Transformation Three-Year Plan (FY25 – FY27).
Financial highlights
Revenue, including share of JVs and associates
FY24: £4,511m
Operating profit before Other items 1 2
FY24: £210m
Basic earnings per share before Other items 1
FY24: 12.3p
Free cash flow
FY24: £158m
ROIC
FY24: 26.4%
Operating profit 2
FY24: £166m
Basic earnings per share
FY24: 9.8p
Dividend per share
FY24: 4.0p
1. Other items are as described in Note 4 to the consolidated financial statements.
2. Operating profit includes share of profit after tax from joint ventures and associates.
Chief Executive’s review
FY25 was a year of good financial and operational progress for Mitie, as we embarked on our new Three-Year Plan for Facilities Transformation. Our mission is clear – to transform our customers’ estates and create smarter, safer, cleaner and greener places that are not only fit for today but are ‘future-proofed’ for the rapid changes that will come in the next few years. We are the future of high-performing places.
Download Chief Executive’s review
Strong progress in the Foundation Year of our Facilities Transformation Three-Year Plan (FY25 – FY27)
Our Three-Year Plan pivots the business from traditional Facilities Management to technology-driven Facilities Transformation. Mitie is the FM market leader in the UK, with deep capabilities to aggregate workflow and workforce data to be a trusted partner to thousands of blue-chip public and private sector organisations.
As such, we are well positioned to meet the evolving needs of our customers and unlock the value that exists in each of their environments. These needs are underpinned by attractive macro trends, including meeting evolving legislative and regulatory compliance requirements, alongside significant investments required in data centre capacity, decarbonisation technologies, and power & grid connections in the UK.
Our strength lies in a combination of exceptional colleagues and cutting-edge technology, empowering us to deliver transformative, data-driven ‘intelligent’ solutions that evolve with the needs of our customers.
We have set ambitious financial targets (based on Alternative Performance Measures) to accelerate growth and enhance shareholder returns over the Three-Year Plan period, underpinned by proactive capital deployment, whilst maintaining leverage between 0.75-1.5x (post-IFRS 16 average net debt/EBITDA).
Key pillars of growth
Progress towards our medium-term financial targets
