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Henry Boot PLC Annual Report and Financial Statements for the year ended 31 December 2015 www.henryboot.co.uk Stock Code: BHY Overview Strategic Report Supported by the Diversity of our Business Model The creation of value and achieving our key objective of maximising long-term shareholder value is underpinned by our business model. Our property investments and construction activities generate recurring revenue streams which allow us to maintain and benefit from long-term funding relationships at prudent gearing levels, which in turn enable land development and property development activities to create cyclical long-term revenue potential and realisation. Our model is supported by our talented people, who through their enthusiasm continue to drive business success, retaining the values that have been fundamental to the longevity of our business. Being responsible in our work ensures we treat all our stakeholders with integrity and respect. Long-term Financial Strength Recurring Revenues SUPPORTED BY Construction Property Investment SUPPORTED BY Land Development Property Development Cyclical Revenues Long-term Financial Strength 10
Henry Boot PLC Annual Report and Financial Statements for the year ended 31 December 2015 www.henryboot.co.uk Stock Code: BHY Long-term Financial Strength Talented People Responsible Practices We have long-established relationships with our key funding partners, Barclays Bank PLC, The Royal Bank of Scotland plc and Santander UK plc. We maintain headroom within our three-year banking facilities, renewed from February 2015, and consider our property investment portfolio as a ‘store of value’ to be realised to augment these facilities if required. The land bank and development opportunities, together with the investment portfolio, have been acquired largely from retained resources ensuring our gearing levels are prudent. In the longer term we aim to achieve a healthy return on capital employed and dividend cover for reinvestment in our core activities which, in turn, creates improving longer-term shareholder returns. Our revenues have remained consistently strong and allowed us to weather the cyclical economic landscape, through the diversification of our activities. This is how our individual business segments have contributed to the Group over the last five years. Profit before tax (£m) 35 30 25 20 15 10 5 0 £11.1 £5.9 (£4.7) 2011 £1.9 £1.9 £8.6 2012 £11.1 £9.0 (£2.3) 2013 The Group’s employees are at the heart of all that we achieve. Our people are highly talented, successful and motivated individuals and are essential to the success of the Group. We are committed to ensuring that we have the right people working for us and we manage this process through a robust people strategy. Their skill, commitment, drive and enthusiasm are vitally important to the long-term success of our business. We succeed in the delivery of shareholder value because our people, individually, achieve the targets set for them. They source and acquire land, promote planning consents, acquire, develop, manage or sell investment properties and service constructors with plant, run our PFI project and refurbish and construct buildings. CAGR 19.1% £13.1 £4.6 £10.1 2014 £19.1 £3.5 £9.9 2015 Group revenue (£m) 200 150 100 50 0 £30.1 £12.8 £72.3 2011 £8.8 £15.7 £80.0 2012 £37.6 £37.9 £82.2 CAGR 11.4% 2013 Delivering long-term shareholder value Continuous improvement lies at the heart of our business and our corporate responsibility programme supports our business approach to acting responsibly whilst we continue to grow and evolve our business operations. Core to our continuing progress are four key aims: 1. To ensure that all our employees have a safe and healthy work environment. 2. To support our people in realising their full potential. 3. To support the development of the local communities in which we operate. 4. To take responsibility and reduce our impact on the environment. Prudent Gearing Strong Governance <strong>Consistent</strong> Dividend Policy £39.0 £26.1 £88.3 Land Development Property Investment and Development Construction 2014 £46.7 £50.3 £90.6 2015 Shareholder Information Financial Statements Governance Strategic Report Overview 11
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Cohesive Consistent Confident

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