Costain Group (COST) Trading Update summary

Trading performance and outlook

• Trading for the period is in line with Board expectations, with no deviation from guidance.

• On track to achieve a 4.5% adjusted operating margin run rate in 2025.

• Full year 2025 net cash position expected to be around £180m, consistent with market expectations.

Contract wins and forward work position

• Forward work position increased by £1.5bn to £5.4bn in 2024, a record level.

• New contracts secured in nuclear energy, including frameworks with Urenco and Sizewell C.

• Technical and consultancy services awarded for the Department for Energy Security & Net Zero.

Strategic focus and business development

• Focus remains on critical national needs and improving contract portfolio quality.

• Actively bidding for new work across all sectors and broadening customer mix.

• Board expresses confidence in strategy and growth prospects despite macroeconomic challenges.