**Summary of Van Elle Holdings PLC Interim Results for the Six Months Ended 31 October 2025**
**Overview**
Van Elle Holdings PLC, the UKs largest ground engineering contractor, reported its interim results for the six months ended 31 October 2025. Despite challenging market conditions, the company demonstrated resilience, with a 16% year-on-year revenue increase to £73.4 million, driven by growth in General Piling and Specialist Piling & Rail segments. The company remains optimistic about market improvements in energy, water, and residential sectors.
**Financial Highlights**
**Revenue** £73.4 million (H1 FY2025: £63.4 million), a 16% increase.
**Underlying EBITDA** £5.7 million (H1 FY2025: £6.1 million).
**Underlying Operating Profit** £2.0 million (H1 FY2025: £2.2 million).
**Underlying Profit Before Tax** £1.9 million (H1 FY2025: £2.2 million).
**Net Funds (excluding IFRS 16 leases)** £2.8 million (31 October 2024: £3.1 million).
**Interim Dividend** Maintained at 0.4 pence per share.
**Operational Performance**
**Specialist Piling and Rail** Strong performance with a focus on energy and water sectors, including the completion of the 150th high-voltage substation project.
**General Piling and Ground Engineering Services:** Affected by challenging market conditions and competitive landscape, particularly in the residential sector due to Building Safety Act delays.
**Disposal of Van Elle Canada** Completed in December 2025, allowing the company to focus on UK opportunities.
**Strategic Focus**
**Energy Sector** Significant potential with expected annual revenue of at least £40 million from long-term frameworks from FY28.
**Residential Sector** Anticipated recovery supported by government commitments to increase housing supply.
**Rail and Water Sectors** Well-positioned to benefit from increasing activity levels in CP7 and AMP8 regulatory cycles.
**Outlook**
**Order Book** Increased by 8% to £44.9 million as of 31 October 2025.
**Market Conditions** Expected to improve across core markets, with the company in a strong position to capitalize on these opportunities.
**Full-Year Expectations** The Board remains confident in achieving market expectations for the full year, with analyst consensus for underlying profit before tax at £3.0 million.
**Management Commentary**
Mark Cutler, Chief Executive, highlighted the companys progress despite industry challenges, emphasizing strategic focus on energy and water sectors, and the potential for growth in the residential market. The disposal of Canadian operations allows for focused capital allocation and pursuit of UK opportunities.
**Conclusion**
Van Elle Holdings PLC demonstrated resilience in a challenging market, with strategic positioning for growth in key sectors. The companys financial performance, strategic initiatives, and market outlook position it well for future growth, supported by a strong balance sheet and focused capital allocation.