MITIE : HY 19/20 Results Presentation

Mitie Group plc

The UK's leading

Facilities Management business

Analyst Presentation HI 19/20

21 November 2019

Disclaimer

This presentation may contain certain forward-looking statements, beliefs or opinions, including statements with respect to Mitie business, financial condition and results of operations. These forward-looking statements can be identified by the use of words such as 'anticipate', 'expect', 'estimate', 'intend', 'will', 'may', 'project', 'plan', 'target' and 'believe' and other words of similar meaning in connection with any discussion of future events. These statements are made by the Directors of Mitie in good faith, based on the information available to them as at 20 November 2019 and reflect the Mitie Directors' beliefs and expectations. These statements, by their nature, involve risk and uncertainty because they relate to events and depend upon circumstances that may or may not occur in the future. A number of factors could cause actual results and developments to differ materially from those expressed or implied by the forward-looking statements in this announcement and accordingly all such statements should be treated with caution. Nothing in this announcement should be construed as a profit forecast.

Except as required by law or regulation, Mitie is under no obligation to update or keep current the forward- looking statements contained in this announcement or to correct any inaccuracies which may become apparent in such forward-looking statements.

This announcement contains inside information.

Agenda

HI 19/20 Financial review	Paul Woolf, CFO
HI 19/20 Strategic review and outlook	Phil Bentley, CEO
Q&A

Financial review H1 19/20

Paul Woolf, CFO

Positive progress in H1 against our financial objectives

Growing business:

• • Revenue1 up 11% (2% organic growth2)

• • Operating profit1,3 up 5%

Commercial success

• • Order book1 increased by 1%

• • Secured our largest recent IFM win and renewed our largest customer through to end of 2024

Balance sheet strength

• • Average daily net debt4 improved by £54m versus H1 18/19 (£24m improvement over H2 18/19)

• • Period end net debt4 up £7m versus year end, but £39m lower than H1 18/19

• • Off balance sheet financing (invoice discounting) reduced by £11m versus year end

Interim dividend of 1.33p (H1 18/19: 1.33p)

• 1 Continuing operations

  • 3 Before other items

• 2 Organic growth excludes the impact of VSG

• 4 Pre-IFRS 16