The Future
of High
Performing
Places
Mitie Group plc
Annual Report and Accounts
2026
We are Mitie
Facilities Transformation and Facilities Compliance company.
A trusted partner to a diverse range of public and private sector
customers, managing and transforming their built estates and ensuring
they meet with increasing regulatory requirements.
In each of our Facilities Management service lines of Engineering
Maintenance, Security and Hygiene we hold market leadership positions.
We upsell Facilities Transformation capital projects in higher-growth
categories including buildings infrastructure, data centres, decarbonisation,
fire & security and power & grid connections.
We also deliver business-critical Facilities Compliance in Fire & Security
Strategic report
02
We are Mitie
04
Our performance highlights
06
Our business at a glance
10
Chair’s statement
12
Macro trends
14
Our investment case
15
FY25-FY27 Strategic Plan
16
Our key pillars of growth
24
Chief Executive Officer’s review
30
Key performance indicators
34
Our business model
36
Stakeholder engagement
41
Operating review
46
Finance review
52
Sustainability statement
84
Principal risks and uncertainties
96
s172 statement
97
Non-financial and sustainability
information statement
98
Viability statement
Governance
100
Chair’s introduction to governance
and the Board
101
Board of Directors
104
Board leadership and
Company purpose
106
Division of responsibilities
108
Strategy and the Boardroom
110
How the Board monitors culture
114
Board effectiveness
117
Nomination Committee report
122
Audit & Risk Committee report
130
Environmental, Social & Governance
(ESG) Committee report
133
Directors’ remuneration report
149
Directors’ report
152
Statement of Directors’
responsibilities
Financial statements
154
Independent auditor’s report to
the members of Mitie Group plc
161
Consolidated income statement
162
Consolidated statement of
comprehensive income
163
Consolidated statement of financial
position
165
Consolidated statement of changes
in equity
166
Consolidated statement of cash flows
168
Notes to the consolidated financial
statements
217
Company statement of
financial position
218
Company statement of changes
in equity
219
Notes to the Company financial
statements
223
Appendix – Alternative Performance
Measures (APMs)
226
Shareholder information
Contents
Strategic report
Financial statements
Governance
03
Mitie Group plc
Annual Report and Accounts 2026
“FY26 has been another year of progress as we enter
the final year of our FY25-FY27 Strategic Plan.
We achieved double-digit growth in revenue and
operating profit before other items for the third
consecutive year and good free cash flow generation,
while building both our order book and bidding
pipeline to record levels.
Additionally, the strategic acquisition of Marlowe during
the year further developed our leadership into Facilities
Compliance and created unique ‘Total Managed Water’
and ‘Total Fire & Security’ propositions.
Our performance is driven by the commitment of our
84,000 colleagues and I would like to extend my thanks
to the team for their hard work and service excellence.
With good momentum and growth underpinned
by favourable macro trends, we are confident of
delivering our Strategic Plan and continuing to create
long-term value for shareholders.”
Phil Bentley
Chief Executive Officer, Mitie Group
04
Mitie Group plc
Annual Report and Accounts 2026
KPI
OUR PERFORMANCE HIGHLIGHTS
Another year of progress
Good financial performance
Revenue (£m)
£
5,619
m
3,903
3,945
4,445
5,083
5,619
FY22
FY23
FY24
FY25
FY26
Operating profit before
Other items
1
(£m)
£
264
m
167
162
210
234
264
FY22
FY23
FY24
FY25
FY26
Operating profit (£m)
£
151
m
72
117
166
162
151
FY22
FY23
FY24
FY25
FY26
Basic earnings per share before
Other items
1
(p)
13.6
p
9.2
9.5
12.3
12.7
13.6
FY22
FY23
FY24
FY25
FY26
Basic earnings per share (p)
6.6
p
2.2
6.8
9.8
8.2
6.6
FY22
FY23
FY24
FY25
FY26
Free cash flow (£m)
£
162
m
147
66
158
143
162
FY22
FY23
FY24
FY25
FY26
Dividend per share (p)
4.5
p
1.8
2.9
4.0
4.3
4.5
FY22
FY23
FY24
FY25
FY26
ROIC (%)
18.1
%
29.9
25.4
26.4
24.5
18.1
FY22
FY23
FY24
FY25
FY26
KPI
KPI
KPI
KPI
KPI
KPI
1.
Other items are as described in Note 4 to the consolidated financial statements.
Alternative Performance Measures (APMs)
The Group’s performance measures continue to include some measures which are
not defined or specified under International Financial Reporting Standards (IFRS).
A reconciliation of the APMs to the equivalent IFRS measures is provided in the
Appendix – Alternative Performance Measures on pages 223 to 225.
Key performance indicators (KPIs)
Pages 30 to 33.
05
Mitie Group plc
Annual Report and Accounts 2026
Strategic report
Governance
Financial statements
Record total order book and bidding pipeline
Customer type by revenue
Total order book
£
16.3
bn
(+6% yoy)
Government
50
%
Non-government
50
%
1 year
£
4.4
bn
1-2 years
£
3.2
bn
>2 years
£
8.7
bn
Bidding pipeline
£
31.7
bn
(+34% yoy)
Immigration & Justice
£
8.6
bn
Local Gov & Education
£
1.8
bn
Healthcare
£
1.9
bn
Defence
£
5.0
bn
CNI & Data Centres
£
2.5
bn
Retail
£
2.2
bn
Financial Services
£
1.4
bn
Industry & Manufacturing
£
1.6
bn
Compliance
£
0.4
bn
Positive trends across non-financial measures
Colleague engagement
KPI
Net Promoter Score
KPI
Colleague turnover
KPI
Carbon emissions
1
KPI
74
% +11ppt
FY25: 63%
+
64
+1pt
FY25: +63
12
% 0ppt
FY25: 12%
257,995
-5%
FY25: 270,419
1.
Scope 1, 2 and 3 global carbon emissions (tonnes CO2e), net of 6,778 carbon credits.
Mitie Group plc
Annual Report and Accounts 2026
06
OUR BUSINESS AT A GLANCE
The Future of High Performing Places
Our purpose:
Better Places; Thriving Communities
We believe better places lead to thriving communities.
When people have better places, it is easier for them
to connect and collaborate, to feel safe and secure,
and to belong. It drives us to make every place we
touch safer, cleaner and more secure and sustainable.
Our approach
Better places do not happen by accident. It takes care,
attention and a blueprint for the future. At Mitie, we
create low-carbon, technology-enabled places that are
safe, connected, responsive and resilient. All backed by
data, so that every decision we make delivers. We are
the Future of High Performing Places.
Our customers’ evolving needs
Optimising
asset performance and
maximising productivity
Protecting
people, property
and assets
Creating
healthier and more
sustainable spaces
Transforming
estates, workplaces and
customer experience
Accelerating
the path to Net Zero
Complying
with increasingly stringent
building regulations
07
Mitie Group plc
Annual Report and Accounts 2026
Financial statements
Governance
Strategic report
Engineering Maintenance
We work with customers to optimise the performance and productivity
of their assets through an extensive suite of engineering services that
enable predictive maintenance and remote monitoring. We have the
UK’s largest team of trained engineers, implementing solutions to ensure
that buildings comply with regulations and infrastructure and systems
remain fully operational.
Security
We protect our customers’ property and assets and keep people safe.
Our delivery is underpinned by leading risk and threat intelligence,
technology and a team of fully vetted, highly trained security
professionals at our two Intelligence Security Operations Centres
(ISOCs), working together with our front-of-house colleagues to enable
Safer Communities for our colleagues, customers and the public.
Hygiene
We create healthier and more sustainable spaces for our customers,
using technologies such as sensors, spill detect computer vision and our
Merlin Connect operating platform to deliver data-driven, demand-
led hygiene solutions. This provides customers with assurance over
cleanliness and drives efficiency and productivity gains.
See pages 16 to 19
See FY25-FY27 Strategic Plan page 15
Projects
We bring together technology and expertise from across the business
to offer an unrivalled breadth of self-delivery capability to consult, design
and deliver projects that transform our customers’ estates, workplaces
and experiences, and accelerate their path to Net Zero. We continue to
enhance our capabilities both organically and through infill acquisitions.
See pages 20 to 21
Fire & Security / Water & Environmental Services
We provide national, end-to-end compliance across fire & security, water
and air quality management, electrical testing and asbestos services.
We work with customers, including those in the most complex and
regulated industries, to protect critical environments, avoid disruption to
operations, extend asset lifespans and meet sustainability targets.
See pages 22 to 23
Delivering our capabilities through two business divisions
Our Facilities Management, Transformation and Compliance capabilities are delivered through two divisions,
each with specialist capabilities and sector focus:
See Operating review on pages 41 to 45
Business Services (£3.0bn revenue)
• Security
• Hygiene & Landscapes
• Facilities Compliance (inc. Marlowe)
• Central Government
• Immigration & Justice
• Spain
Technical Services (£2.6bn revenue)
• Engineering
• Defence
• Healthcare, Local Government
& Education
£
5.6
bn
revenue
FACILITIES MANAGEMENT
FACILITIES TRANSFORMATION
FACILITIES COMPLIANCE
08
Mitie Group plc
Annual Report and Accounts 2026
OUR BUSINESS AT A GLANCE
continued
Our customers
We have a loyal and diverse blue-chip customer
base across a broad range of sectors, including those
showcased below.
Transport & aviation
Retail, logistics,
hospitality and leisure
Corporate and
professional services