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Full Year Results Announcement for the year ended 31 December 2013

03 March 2014

Keller Group plc ("Keller" or "the Group"), the international ground engineering specialist, is pleased to announce its full-year results for the year ended 31 December 2013.

Results summary:
	2013	2012	% change
Revenue	£1,438.2m	£1,317.5m	+9%
EBITDA*	£124.2m	£91.9m	+35%
Operating profit*	£77.8m	£48.3m	+61%
Profit before tax*	£74.1m	£43.5m	+70%
Earnings per share*	73.0p	45.9p	+59%
Cash generated from operations	£132.0m	£108.4m	+22%
Total dividend per share	24.0p	22.8p	+5%

* 2013 results stated before exceptional items comprising non-trading costs related to acquisitions.

Highlights include:

• Record revenue of £1,438.2m (2012: £1,317.5m), up 9%
• Operating margin* raised to 5.4% (2012: 3.7%), with increases in all four divisions
• Profit before tax* increased to £74.1m (2012: £43.5m)
• Earnings per share* of 73.0p (2012: 45.9p)
• Cash from operations of £132.0m, representing 106% of EBITDA* (2012: 118%)
• Total dividend per share of 24.0p (2012: 22.8p), an increase of 5%
• Three strategic acquisitions completed at a cost of £188.5m and integration progressing well

Justin Atkinson, Keller Chief Executive said:

"All four divisions improved their operating margin. This reflects a sharp focus on continuous improvement in many aspects of the business, as well as an excellent performance on several major projects and improving conditions in certain of our markets.

"The three acquisitions we completed in the year give the Group market-leading positions in target markets offering attractive, long-term growth opportunities."

"Overall, we expect 2014 to be another year of progress. Looking further ahead, we remain optimistic about our long-term prospects and we are confident that the Group is well positioned to take full advantage of future opportunities."