Keller : Interim Results Announcement for the six months ended 27 June 2021 Presentation

3 August 2021

Keller Group plc

Interim Results 2021

Building the foundations for a sustainable future

keller.com

Cautionary statements

This document contains certain 'forward looking statements' with respect to Keller's financial condition, results of operations and business and certain of Keller's plans and objectives with respect to these items.

Forward looking statements are sometimes, but not always, identified by their use of a date in the future or such words as 'anticipates', 'aims', 'due', 'could', 'may', 'should', 'expects', 'believes', 'intends', 'plans', 'potential', 'reasonably possible', 'targets', 'goal' or 'estimates'. By their very nature forward-looking statements are inherently unpredictable, speculative and involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future.

There are a number of factors that could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements. These factors include, but are not limited to, changes in the economies and markets in which the group operates; changes in the regulatory and competition frameworks in which the group operates; the impact of legal or other proceedings against or which affect the group; and changes in interest and exchange rates.

For a more detailed description of these risks, uncertainties and other factors, please see the Risk Management approach and Principal Risks section of the Strategic Report.

All written or verbal forward looking statements, made in this document or made subsequently, which are attributable to Keller or any other member of the group or persons acting on their behalf are expressly qualified in their entirety by the factors referred to above. Keller does not intend to update these forward-looking statements.

Nothing in this document should be regarded as a profits forecast.

This document is not an offer to sell, exchange or transfer any securities of Keller Group plc or any of its subsidiaries and is not soliciting an offer to purchase, exchange or transfer such securities in any jurisdiction. Securities may not be offered, sold or transferred in the United States absent registration or an applicable exemption from the registration requirements of the US Securities Act of 1933 (as amended).

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Agenda

Summary

Financial results

Business update,

ESG and strategy

Summary and outlook

Questions and answers

Summary

	Underlying	Underlying	Underlying
	operating	operating	diluted
Revenue	profit	margin	EPS	Order book	Dividend

£984.1m	£39.5m	4.0%	35.6p	£1.2bn	12.6p
-5%	-18%	Down from 4.6%	-10%	(+11% CC)	Flat YoY
(flat CC)	(-9% CC)		(+1% CC)

• A better than expected H1 despite FX headwinds and anticipated COVID-19 related margin compression
• Revenue flat on constant currency basis; slow Q1 followed by improved momentum in Q2
• Operating profit decrease of 9% on constant currency basis; positive resolution of historical claim in NA more than offset by COVID-19 impact, higher steel prices in Suncoast and suspension of certain contracts in Africa
• Continued strong cash performance, net debt1 of £113.4m, down 27%. Net debt/EBITDA1 of 0.7x, within 0.5x-1.5x target
• Continued progress in both conventional and COVID-19 related safety, 27% YoY improvement in AFR2
• ESG: On climate action, one of the Group's four specific SDGs, we have set ambitious net zero targets for all three of our emission scopes, culminating in carbon neutrality by 2050 at the latest
• Execution of strategy continued; restructuring completed in Europe, acquisition of RECON in North America
• Payment of interim dividend continues the Group's 27 year uninterrupted record of dividends
• Order book increased to a record £1.2bn
• We expect a continuing increase in trading momentum in H2 with FY performance anticipated to be materially ahead of the Board's previous expectations, with a modest second half bias

CC = Constant currency. 1On a lender covenant basis excluding the impact of IFRS16 . 2 AFR = Accident Frequency Rate

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Financial results