A leading support
services company

Carillion is a leading support services
company, delivering integrated solutions
for buildings, infrastructure and services.
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We report our results in four business segments, click here to see this year’s segmental performance.

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Support services

In this segment we report the results of our facilities management, facilities services, rail services, road
maintenance, utility services and consultancy businesses.

£m 2009 2008
Total revenue 2,389.5 2,463.5
Total underlying operating profit(1) 117.7 113.5
Total reported operating profit 90.6 64.5
(1)
Before intangible amortisation, impairment of other investments and non-recurring operating items.
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Public Private Partnership projects

In this segment we report the equity returns from our investments in Public Private Partnership projects.

£m 2009 2008
Total revenue 215.6 178.4
Total underlying operating profit(1) 32.2 29.8
Total reported operating profit 32.2 17.7
(1)
Before intangible amortisation, impairment of other investments and non-recurring operating items.
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Middle East
construction services

In this segment we report the results of our building and civil engineering activities in the Middle East and North Africa.

£m 2009 2008
Total revenue 553.6 464.2
Total underlying operating profit(1) 47.0 34.5
Total reported operating profit 47.0 34.5
(1)
Before intangible amortisation, impairment of other investments and non-recurring operating items.
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Construction services

(excluding the Middle East)

In this segment we report the results of our UK building, civil engineering and developments businesses together with those of our construction activities in Canada and the Caribbean.

£m 2009 2008
Total revenue 2,267.8 2,099.7
Total underlying operating profit(1) 30.9 28.7
Total reported operating profit/(loss) 12.9 (3.7)
(1)
Before intangible amortisation, impairment of other investments and non-recurring operating items.

Chairman’s statement

I am delighted to report that Carillion achieved its objective of delivering materially enhanced earnings in 2009, despite challenging market conditions.

Philip Rogerson - Chairman

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Financial highlights

(1)
After Joint Ventures’ taxation of £6.5 million (2008: £10.7 million) and before intangible amortisation, impairment of other investments, non-recurring operating items and non-operating items
(2)
Before intangible amortisation, impairment of other investments, non-recurring operating items and non-operating items

 

Operational highlights

  • Underlying earnings per share up 14% and dividend up 12% – continues strong compound annual growth rates in underlying earnings and dividend over last five years of 15% and 14%, respectively
  • Improved total Group operating margin of 4.0% (2008: 3.7%) – support services operating margin increased to 4.9% (2008: 4.6%), with support services making the largest contribution to total underlying operating profit of 52%
  • Strong balance sheet and cash flow – cash flow from operations of £268.2 million (2008: £198.3 million) with net cash of £24.9 million (31 December 2008: net borrowing £226.7 million)
  • Disposed of two non-core businesses, external IT services and Enviros, and outsourced internal IT services – generating cash proceeds of £102.4 million
  • Equity investments in Public Private Partnership (PPP) projects continue to generate substantial value – the sale of four investments in 2009 generated proceeds of £100.7 million
  • Middle East construction services continued to perform strongly – contributed 21% of total underlying operating profit at an improved operating margin of 8.5% (2008: 7.4%), following successful expansion into Abu Dhabi and a strong performance in Oman
  • Construction services (excluding the Middle East) performed satisfactorily – contributed 13% of total underlying operating profit at a stable margin of 1.4%
  • Stable high-quality order book of some £17.7 billion (2008: £20.4 billion) – movement in order book due to PPP equity sales and non-core business disposals; excellent pipeline of probable orders and contract opportunities.

2009 Group key figures

Total revenue
by business segment
Underlying operating profit(3)
by business segment
Reported operating profit
by business segment
(3)
Before Group eliminations and unallocated items of £10.5 million (2008: £12.4 million), share of jointly controlled entities net financial expense and taxation and non-recurring operating items
(4)
Growth on 2008.

 

Group Chief Executive’s review

A seventh successive year of substantial growth in earnings per share and dividend is an outstanding achievement, especially in the current economic climate, which has made market conditions very challenging.

John McDonough - Group Chief Executive

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Video centre

Watch videos showing the work we do within our four business segments and how we are making tomorrow a better place.

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Operating and financial review

Carillion performed strongly in difficult market conditions during 2009 to deliver a 19 per cent increase in underlying profit from operations and a 14 per cent increase in underlying earnings per share.

Richard Adam - Group Finance Director

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Download centre

Download sections of the 2009 Annual Report

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Our operations

Carillion is a leading support services company, delivering integrated solutions for buildings, infrastructure and services. Carillion has annual revenue of over £5 billion, employs around 50,000 people and operates across the UK, in the Middle East and North Africa, Canada and the Caribbean.

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