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Our purpose is to develop better ways to build, for a world of changing demands. We will achieve this through the Group's strategy which is focused on its core strengths of engineering and construction in the UK, Republic of Ireland and continental Europe.

Our well-established strategy is unchanged, focused on growth, both organic and through selective acquisitions, operational improvements and building further value in JSSL. This is supported by an emphasis on five key strategic pillars and assisted by our operational improvement programme and Project Horizon, our new digitisation programme.

The objective of Project Horizon is to maximise the automation of our estimating, design, production and contract delivery processes to improve customer service and increase efficiency, and our operational improvement programme represents the consolidation of all the Group's other ongoing improvement projects, established to help us deliver the Group's overall strategy.

These include improvements in business processes, manufacturing efficiencies (including those supported by capital investment), quality control, cost reduction programmes and new product development, all set within the framework of strong risk management and control. These initiatives have served the Group well during the pandemic, the recent inflationary market conditions and other periods of market turbulence.

Our strategy focus

  • Growth, both organic and through acquisitions
  • Operational improvements
  • Building further value in JSSL to achieve our purpose to develop better ways to build, for a world of changing demands.

Achieving Purpose

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Growth

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Clients

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India

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Operational
Excellence

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People

Growth through acquisitive activities

DAM Structures

  • Acquired in 2021.
  • Rebranded to become Severfield Infrastructure, part of the Nuclear and Infrastructure Division.
  • Production facilities in Bridlington and offices in Chepstow. Now combined with the Bridge team based out of Lostock.

Core activities

  • Predominantly serving the transport sector through propping, railway and piling products.
  • Combined in 2022, Infrastructure now includes the Bridge team, providing bridge packages to serve a range of infrastructure projects.

Opportunities

  • UK Government £650bn National Infrastructure Strategy, including HS2 to Manchester, Northern Powerhouse rail links and Road investment strategy provide long term significant investment in the market sector.

Harry Peers

  • Acquired in 2019.
  • Rebranded to become 'Severfield Nuclear' part of the Nuclear and Infrastructure Division.
  • Production facilities in Bolton.

Core activities

  • Predominantly serving the nuclear, power generation and process industries sectors.
  • Extensive experience in the highly regulated, specialist sectors.

Opportunities

  • UK Government £650bn National Infrastructure strategy, including Nuclear investment, including Sizewell C in Suffolk.
  • Key delivery partner to deliver structural steelwork at Sellafield.
  • Increased spend on national infrastructure to mitigate climate change and deliver green energy.
Strategic pillarLink to KPIsLink to principal risk
Growth Icon

Growth

Our aim is to capitalise on growth opportunities, both in the UK and in Europe, and to maximise our market share.

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Clients

By understanding, anticipating and responding to client needs we aim to build secure, sustainable and mutually valuable relationships and create lasting client satisfaction.

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India

Our aim is to build value in JSSL and we remain very positive about the long-term development of the Indian market.

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Operational Excellence Icon

Operational excellence

Our emphasis is on delivering high-quality projects and reducing costs by driving excellence through our core business processes.

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People

Our people are at the heart of our business and are vital to the success of our vision and the achievement of our strategic goals.

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Key performance indicator reference number

1

Underlying operating profit and margin (before JVs and associates)

2

Underlying basic earnings per share (‘EPS’)

3

Revenue growth

4

Operating cash conversion

5

Return on capital employed (‘ROCE’)

6

Order book

7

Injury frequency rate (‘IFR’)

Key to principal risks

A

Health and safety

B

Supply chain

C

People

D

Commercial and market environment

E

Mispricing a contract (at tender)

F

Cyber security

G

Failure to mitigate onerous contract terms

H

Sustainable and responsible business

I

Industrial relations

In 2023, we continued to make good operational and strategic progress, helping to generate sustainable long-term value for our stakeholders.