Equans Services has navigated a revenue decline with the delivery of a robust financial performance that reflects resilience and continued strategic growth in the face of market challenges.
Equans Services has delivered a strong financial performance for the year ended 31 December 2024, with turnover of £747.6 million, slightly down – 5.5 per cent – from £791.8 million in 2023.
However, operating profit saw a significant increase of 15.9 per cent, rising to £46 million, up from £39.7 million the previous year, reflecting the company’s focus on improving profitability.
As part of the Bouygues Group, a global conglomerate active in construction, Equans is enhancing its role in energy management, digital transformation, and facilities services, supporting the transition to a low-carbon, resilient world.
Equans provides integrated services to clients like NHS hospitals, utilities, and government departments.
The company reported a pre-tax profit of £49.1 million, up from £40.7 million in FY2023, while profit for the year, after tax, amounted to £36.8 million (FY2023: £29.7 million).
Cash at bank and in hand was £403,000 (FY2023: £346,000), with £49.3 million (FY2023: £40.7 million) held in a group cash pool arrangement.
The company continues to have a strong statement of financial position with total equity of £133.7 million (FY2023: £93.4 million) and is supported by a £20 million negative balance limit in its cash pool facility, which remains undrawn.
Directors confirmed the arrangements provide sufficient financial backing, even in the event of a downturn, with the company not having any external borrowings.
Equans director, Mark Gallacher said: “Operational performance across the company’s main contracts was generally strong and consistent with the prior year.
“Some improvements have been made in performance on some challenging contracts, which has improved the results year-on-year.
“Turnover has reduced as the company has continued to prioritise profitability over volume and as one-off projects have approached conclusion and have not been replaced.”
He added the company’s primary medium-term strategy remains unchanged, to retain and develop long-term relationships and build upon the existing contract base as it continues to drive growth in its core services in the facilities management and energy sectors.
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