Keller Group (KLR) Trading Update summary

Executive summary

• Full-year performance expected to be in line with market expectations, with a typical second-half weighting.

• Operational improvements and strong project wins in resilient markets support sustained performance.

• Record-level order book and healthy tendering pipeline underpin confidence in short- and medium-term outlook.

Financial highlights

• Approaching a net cash position at year-end, improving headroom to net debt/EBITDA target range of 0.5x–1.5x (H1 2025: 0.2x).

• Analyst consensus for underlying operating profit in 2025 is £214m.

• Annual revenue is approximately £3bn.

Outlook and guidance

• Full-year results expected to meet market expectations despite FX headwinds and mixed macroeconomic conditions.

• Confidence in continued delivery supported by a strong balance sheet and diversified portfolio.

• Full-year results to be announced on 3 March 2026.