REG - Costain Group PLC - AGM Trading Update

CostainAnnouncement

15/05/2025 07:00

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RNS Number : 7321I  Costain Group PLC  15 May 2025

 

Costain Group PLC

 15 May 2025

AGM Trading Update

 

Trading in line with Board expectations, with further contract wins in growth
markets

 

Ahead of today's Annual General Meeting ("AGM"), Costain Group PLC ("Costain"
or the "Group") announces an update on trading for the period 1 January 2025
to date ("the period").

Costain confirms that trading for the period is in line with Board
expectations. The Group remains on track to meet its 4.5% adjusted operating
margin run rate target during 2025 and continues to expect its 2025 full year
net cash position to be in line with current market expectations of around
£180m.

Costain retains a high-quality forward work position that aligns with its
strategic plans. The successful execution of its strategy delivered a record
increase in the forward work position of £1.5bn to £5.4bn in 2024. In 2025,
the Group remains busy bidding further new work across all sectors and
broadening its customer mix. In particular, wins in the period include new
contracts in Nuclear Energy:

·    Urenco: a programme delivery partner framework to deliver new and
upgraded infrastructure at its Cheshire site and is Costain's first contract
with Urenco as it expands capacity as a key enabler for the UK's decarbonised
energy system;

·    Urenco: an additional design services FEED for the first commercial
scale high-assay low-enriched uranium facility to be built in the UK;

·    Sizewell C: a ten-year framework to provide engineering, project
delivery and quality control expertise to support the construction of the new
nuclear power station, expected to be one of the biggest net zero projects in
the UK; and

·    Department for Energy Security & Net Zero (DESNZ): provision of
technical expertise and strategic consultancy services on the Nuclear and
Emerging Technologies lots within the Energy and Net Zero Professional
Services Framework.

While mindful of the macro-economic backdrop, through its focus on critical
national needs Costain continues to improve the quality of its contract
portfolio and deliver on its targets, and the Board remains confident in the
Group's strategy and growth prospects.

As part of the AGM presentation, Costain will provide a short business update
drawing on information published on 11 March 2025. There will be no new
material information in the presentation further to that of 11 March 2025 and
today's announcement.

Enquiries:

 

Investors and
analysts
[email protected]

Matt Jones, Costain
                                 +44 (0) 7860 922 341

 

Financial media - Headland
                         [email protected]
(mailto:[email protected])

Andy Rivett-Carnac
                                  +44 (0) 7968 997 365

Charlie Twigg
                                        +44 (0) 7946 494
568

 

Notes to editors

 

Costain helps to improve people's lives by creating connected, sustainable
infrastructure that enables people and the planet to thrive. We shape, create
and deliver pioneering solutions that transform the performance of the
infrastructure ecosystem across the UK's transport, energy, water, and defence
markets.

 

We are organised around our customers anticipating and solving their
challenges and helping to improve performance. By bringing together our unique
mix of construction, consulting and digital experts we engineer and deliver
sustainable, efficient and practical solutions.

 

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