Mitie ‘From Facilities Management to Facilities Transformation’

Mitie’s Capital Markets Event which took place yesterday (12 October) saw the company launch its new three-year plan for FY25-FY27: ‘From Facilities Management to Facilities Transformation’.

The Group outlined how customers’ needs for their built environment are changing to meet increasing demands for asset optimisation; a reduced carbon footprint; higher levels of assurance for security and cleanliness; whilst embracing hybrid working and creating a ‘Great Place to Work’.

Featuring a series of presentations from Mitie’s senior leadership team, highlighting the strengths of the business and opportunities for growth, the event also showcased Mitie’s leading technologies in action in its ‘Transformation Hub’.

Mitie’s technology-led Facilities Transformation strategy is expected to drive faster growth in three key areas:

• Growth in major Key Accounts
• Growth in Projects work through ‘upselling’ to existing customers
• Growth through Infill M&A to add new capabilities

Mitie also set out new financial targets for FY25 – FY27, as follows:

• High single digit revenue compound annual growth rate (CAGR)
• 5% operating profit margin1 by FY27
• EBITDA >£300m by FY27
• EPS CAGR above that of revenue, despite higher Corporation Tax rates
• £150m p.a. free cash flow by FY27

The Mitie Board has announced that CEO, Phil Bentley, has “confirmed his commitment” to delivering the next three-year plan.