Taylor Wimpey (TW) investor relations material

Executive summary

• Delivered disciplined execution and tight cost control amid a challenging housing market, with a 6% reduction in work-in-progress per outlet and strong cash management.

• Achieved a 6% increase in average outlets and further progress in outlet openings, supporting volume recovery.

• Revised Distribution Policy to return 4% of net assets annually, balancing shareholder returns with financial flexibility.

• Focused on operational discipline and maintaining a strong balance sheet to navigate the downturn.

Financial highlights

• Group revenue rose 1.7% year-over-year to £1,683.0m, supported by higher average selling prices and £32m of land sales.

• Gross profit was £253.9m, down 10.1% year-on-year; gross margin fell to 15.1%.

• Adjusted operating profit declined 19.4% to £129.7m, with margin down to 7.7%.

• Net cash at period end was £168.6m, expected to rise to £250m by year-end.

• Adjusted basic EPS decreased 21.9% to 2.5p.

Outlook and guidance

• Full-year UK completions guidance lowered to 10,600–10,800 homes.

• Blended UK average selling price expected to be ~1% higher year-on-year, with affordable homes at 21% of completions.

• Build cost inflation forecast to rise to 3–4% for the full year.

• Year-end net cash expected around £250m after cladding spend.

• No net JV profit expected in H2; full-year JV profit guidance at £4m.