Kier Group plc (KIERF) Q4 2026 Earnings Call Transcript

Kier Group plc ( KIERF ) Q4 2026 Earnings Call September 15, 2026 6:00 AM EDT Company Participants Stuart Togwell - CEO & Executive Director Thomas Hinton - CFO & Director Conference Call Participants Jonathan William Coubrough - Deutsche Bank AG, Research Division Andrew Nussey - Peel Hunt LLP, Research Division Aynsley Lammin - Investec Bank plc, Research Division Adrian Kearsey - Panmure Liberum Limited, Research Division Stephen Rawlinson - Applied Value Limited Daniel Thomas Cowan - BNP Paribas, Research Division Presentation Stuart Togwell CEO & Executive Director Good morning, everyone. Tom and I are excited to be taking you through excellent set of results and introducing our new strategy. Welcome to you all, be it those here in person or online. And I'm delighted also to be joined by members of our executive team, as these results and strategy are, of course, a team effort. I'm proud to be leading Kier at this time and excited about how we shift from recovery to value creation. Last year, I spoke about the need for Kier to evolve. This year, I want to show how far we have progressed and how that progress puts us in a strong position to deliver consistent, sustainable growth. It was really important to me as a new Chief Exec that we delivered on '26 as we evolved, and we did. Kier delivered both a strong '26 performance. Revenue up 7.5%, adjusted operating profit up by 6.7%, framework access up by GBP 50 billion and monthly net cash up GBP 60 million. We did that whilst we evolved into a simpler business model through the seamless transition of two divisions into one infrastructure powerhouse and the adoption of our Justice Blueprint into Defense and Health. A new management team is in place whilst we delivered average net cash for the first time in a decade and strengthened our cyber protection and digital