Costain has been improving the lives of people through infrastructure for more than 160 years.
Today, we’re solving some of the UK’s most complex infrastructure challenges across the transportation, water, energy and defence markets.
Learn more about our business, our markets, our financial performance and targets, and our investment case
Introduction to Costain“The Government’s new Infrastructure Strategy and Infrastructure Pipeline, together with recent regulatory determinations in water, energy and aviation, provide clarity and confidence in the significant growth opportunities in our target markets.”
Alex Vaughan Costain Chief Executive Officer
Why invest in Costain
We focus our expertise in four selected infrastructure markets of
transportation, water, energy and defence. All offer attractive growth prospects, and we benefit from:
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Long-term customer relationships built on 160 years of experience
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Broad end-to-end service offering, which enhances value to our customers
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Effective risk management, which is driving predictable best-in-class delivery and higher margins
Resulting in improved diversification and resilience of our customer base and a higher quality business.
Potential to continue double digit EPS CAGR*:
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Further earnings progress expected in FY26
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Step-change in forward work position expected to deliver a step-change in revenue in FY27 and beyond
Capital allocation priorities:
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Invest for growth (e.g. systems, capabilities and expertise)
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Progressive dividend (target 3x earnings cover)
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Selective M&A
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Return surplus capital to shareholders (e.g. buybacks in FY 24, FY 25 and FY 26)
*Based on consensus forecasts for FY 26 - FY 28
Clear strategy is improving the quality of the business
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Broadening and deepening our long-term customer base through our construction and consultancy service mix
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High-quality forward work position of £7.0bn, covering diverse range of infrastructure programmes, bidding activity levels remain high
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Improving risk profile through effective risk management and predictable best in class delivery
Delivering strong financial performance and shareholder returns
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Adjusted EBIT CAGR of 12% since FY 21
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Net cash balance improved from £119m at end FY21 to £189m at end FY25 (12% CAGR)
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£32m cumulative shareholder returns in FY 23 - FY 25 period, with a further £32m expected in FY 27
Increasingly confident in the Group’s prospects
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Real momentum in our target markets of Transport, Water, Energy, and Defence and Nuclear Energy provided by the Government’s commitments in 10-year Infrastructure Strategy & Infrastructure Pipeline, and committed regulatory investment in water, energy and aviation.