Eurovia UK delivered a “resilient” financial performance last year despite a “volatile” operating environment.
Its Term Services (Ringway) and Contracting and Production businesses were key to that result, the Group wrote in a financial statement for the year ended 31 December 2022.
“These businesses received a further boost through the mobilisation of Transport for London and London Borough of Lambeth, plus the award of Surrey County Council […] on 27 April 2022 for an initial period of 10 years, but could run for up to 21 years, with an anticipated value of circa £60 million per annum,” Eurovia added.
The Vinci subsidiary posted Group revenue of £693.4 million, compared to £632 million in FY2021.
Gross profit for Eurovia UK was £138 million (FY2021: £116.2 million), while operating profit was £33.4 million (FY2021: £21.8 million).
The pre-tax profit result for the Group was reported at £37.5 million, compared to £26.8 million in the previous financial period.
Profit for the year was £32 million (FY2021: £24.4 million) and total income was £37.9 million (FY2021: £25.7 million).
Eurovia UK’s cash position was recorded at £155.8 million (FY2021: £128.6 million).
Total equity and liabilities were £340.1 million, compared to £279.8 million in the prior year.
Was this interesting? Try Tier One team to deliver £3bn water infrastructure
If you have a tip or story idea that fits with our publication, please contact the head of editorial rory@wavenews.co.uk
Get industry news in 5 minutes!
A daily email that makes industry news enjoyable. It’s completely free.