Kier Group
KIE · Main Market · Construction and Materials · mcap £1,303m · 313.6p 3 open situations →
- EV
- £972m
- EV / EBIT
- 8.2x
- Net cash
- £232m
- FCF yield
- 12.2%
- Revenue
- £4.4bn
- Cash returned
- 4.1%
- Share price 1y
- +38%
- Insiders 12m
- sold £561k
- Next report
- around 2 Mar
Open · 3
Strategic priorities update
On 21 July 2026 Kier said it would update on strategic priorities with FY26 results. On 15 September 2026 it set three priorities (Growth, Resilience, Performance) and new medium-term targets. It will make no new Property developments from FY27 and will reallocate capital to strengthen the balance sheet.
- Stated aim
- Drive enhanced shareholder returns over the medium term 21 Jul 2026 ↗
- Targets
- None stated yet 21 Jul 2026 ↗
- Priorities
- Growth (Infrastructure and Construction), Resilience (balance sheet), Performance (quality of earnings) 15 Sep 2026 ↗
- Revenue target
- Mid-single digit growth 15 Sep 2026 ↗
- Margin target
- Adjusted operating margin 4.0-4.5% (FY26: 3.9%) 15 Sep 2026 ↗
- Cash target
- Average net cash >£200m by FY29 (FY26: £10.7m) 15 Sep 2026 ↗
Next: Deliver against medium-term targets, including >£200m average net cash by FY29
- 15 Sep 2026 Priorities and medium-term targets published
- 21 Jul 2026 Announced; update due with results
STEP fusion construction partner appointment
On 16 March 2026 Kier, jointly leading the ILIOS consortium with Nuclear partner Nuvia, was appointed construction partner for the STEP fusion programme at West Burton. The 21 July 2026 trading update lists the first £200m tranche among H2 FY26 Infrastructure new business, within a programme valued at £10bn in total. Kier's own share of the value is still not stated.
- First tranche
- £200m over three years, design and build of prototype fusion plant at West Burton 21 Jul 2026 ↗
- Wider programme
- Valued in total at £10bn 21 Jul 2026 ↗
- Consortium
- ILIOS, led by Kier and Nuvia, with AECOM, AL_A, Turner & Townsend 21 Jul 2026 ↗
- Client
- UK Fusion Energy 21 Jul 2026 ↗
- Scope
- Design and construction of all buildings, infrastructure and facilities across the STEP site
- Jobs
- Up to 8,000 onsite jobs at peak
- 21 Jul 2026 First £200m tranche counted in H2 new business
- 16 Mar 2026 Appointed; first tranche to begin
Norfolk highways term contract
- 3 Mar 2026 Appointed; mobilisation ahead of start
- 13 Nov 2025 Appointed; mobilisation ahead of start
Closed · 5
Company filings. Not investment advice.