The Future of High Performing Places
FY26 has been another year of progress as we enter the final year of our FY25-FY27 Strategic Plan.
Financial highlights
Revenue (£m)
FY25: £5,083m
Operating profit before Other items (£m) 1
FY25: £234m
Basic earnings per share before Other items (p) 1
FY25: 12.7p
Free cash flow (£m)
FY25: £143m
ROIC (%)
FY25: 24.5%
Operating profit (£m)
FY25: £162m
Basic earnings per share (p)
FY25: 8.2p
Dividend per share (p)
FY25: 4.3p
1. Other items are as described in Note 4 to the consolidated financial statements.
FY25-FY27 Strategic Plan
Our Strategic Plan set out to extend Mitie’s Facilities Management market leadership into Facilities Transformation projects and, following the Marlowe acquisition, into business-critical Facilities Compliance. Together, these three pillars of growth create a compelling, end-to-end customer proposition that shifts our sales mix towards higher-margin adjacencies while meeting our customers’ evolving needs.
We are differentiated by our scale, exceptional colleagues and sustained investment in technology and AI, enabling us to aggregate workflow and workforce data, improve efficiency, and deliver high-value insights to public and private sector customers on the performance of their built environment. Demand is underpinned by significant macro trends: tightening regulation of the built environment; increased investment in building modernisation; renewable energy; data centre investment; power & grid connections; and now, water services.
At our Capital Markets Event in October 2023, where we launched our Strategic Plan, we set ambitious financial targets, inclusive of M&A, to accelerate growth and deliver superior returns to shareholders:
- High single-digit compound annual revenue growth
- Operating margin of at least 5% by FY27
- Basic EPS growth above that of revenue growth, despite higher corporation tax rates
- Annual free cash flow of £150m by FY27
Our ambitious targets are underpinned by a proactive capital deployment policy, leverage of 0.75-1.5x (average daily net debt/EBITDA, including leases) and a return on invested capital above 20%.
Key pillars of growth
Progress towards our medium-term financial targets
Our investment case
We have a proven track record of delivery, operating in segments underpinned by favourable macro trends. We have a loyal and diverse blue-chip customer base, long-duration contracts and core capabilities differentiated by technology, innovation and our colleagues.
Macro-trends
Our service lines and sectors have attractive growth prospects that are underpinned by favourable macro trends, ranging from decarbonisation and the modernisation of the built environment to changes in the regulatory landscape and public sector areas of investment.
Our key pillars of growth
We deliver technology-led integrated FM, bundled and single line services to enhance the customer experience and drive efficiencies across service lines and sectors. We also transform our customers’ estates and ensure they meet with increasingly stringent regulatory requirements.
