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Full version – Annual Report and Accounts 2011

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Carillion plc is one of the UK's leading integrated support services company, with a substantial portfolio of Public Private Partnership projects and extensive construction capabilities.

We are in the business of transforming the delivery of services for buildings and infrastructure. Read more

Support services

Transforming delivery, through innovative, value for money solutions

We are one of the UK's largest support services companies providing all the services needed to manage, maintain and operate buildings and infrastructure, notably for large property estates and for transport and utility services networks. Read more

Public Private Partnership projects

Transforming delivery, of public infrastructure and services

We are a leader in Public Private Partnership (PPP) projects, both in the UK and in Canada. PPP projects use private sector finance to deliver a wide range of asset-based services for central and local Government. Read more

Middle East construction services

Transforming delivery, for the most prestigious projects in the world

We have around 40 years' experience in the Middle East and delivered some of the region's most prestigious buildings and infrastructure projects. Read more

Construction services

(excluding the Middle East)

Transforming delivery, of buildings and infrastructure

We have a strong and selective construction capability in the UK and in Canada, focused on large, higher added value contracts for long-term customers. Read more

2011 highlights

FINANCIAL HIGHLIGHTS

Strong financial performance
  • Revenue unchanged, with the increase due to the acquisition of Carillion Energy Services (CES) offset by the planned re-scaling of UK construction
  • Strong growth in underlying profit before taxation and underlying earnings per share (eps) reflected a substantial increase in total underlying operating margin(3) from 4.2% to 4.7%
  • Reported profit before taxation and basic eps includes a total of £47.5m of one-off costs relating to the acquisition and integration of CES
  • Proposed full-year dividend up 9%, reflecting a strong performance and positive outlook
Strong balance sheet
  • Strong cash flow from operations of £230.3m was equal to 107% of profit from operations
  • Net debt of £50.7m was substantially better than expectations
  • New revolving credit facility of £737.5m to 2016 and £100.0m 7 to 10 year private placement financing
Good revenue visibility and record pipeline of contract opportunities
  • 2012 revenue visibility(4) of 77% (2010: 82% for 2011)
  • Order book plus probable orders of £19.1bn (2010: £19.1bn) remains very strong
  • Pipeline of contract opportunities up 29% to £33bn, includes major public sector outsourcing opportunities
(1)
After Joint Ventures taxation charge of £3.5 million (2010: £4.7 million) and before intangible amortisation, non-recurring operating items and non-operating items.
(2)
Before intangible amortisation, non-recurring operating items and non-operating items.
(3)
Before Joint Ventures net financial expense and taxation, intangible amortisation and non-recurring operating items.
(4)
Based on expected revenue and secure and probable orders, which exclude variable work and re-bids.

Our performance

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Chairman's statement

Group Chief Executive's review

Operating and financial review

Our operations

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Carillion has an annual revenue of over £5 billion, employs around 50,000 people and operates across the UK, in the Middle East and North Africa, Canada.

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