On 19 May 2022 it was announced that the HomeServe Board is unanimously recommending the acquisition of HomeServe by Hestia Bidco Limited, a subsidiary of Brookfield Infrastructure Funds, which entitles HomeServe shareholders to receive 1,200 pence per HomeServe share and values HomeServe at £4.1bn on a fully diluted basis.
Group performance highlights
Statutory operating profit
Basic earnings per share
Ordinary dividend per share
Chairman & CEO statements
“As part of my due diligence for the role of Chairman, I discovered an ambitious company with an exciting vision – to be the world’s largest and most trusted provider of home repairs and improvements.”
Chief Executive’s statement
“We made good progress on all three of our strategic priorities: to continue to drive growth in North America; to broaden and transform our UK business; and in Home Experts, to perfect a market leading platform to match consumers with high quality trades. I am delighted to report that we made.”
As the response to Covid-19 transitions from pandemic to endemic, the secular shifts that will remain permanent features for many societies are becoming clearer.
HomeServe is built on five key sources of value, the combination of which is unique to us: partnerships; capacity for innovation, customer obsession; trades network management and financial resources and expertise.
We now run our business in three largely autonomous divisions, each of which are at different stages of development. We have distinct growth strategies for each division.
North American Membership & HVAC delivered a strong financial performance. The strong growth we are seeing is sustainable, thanks to disciplined management.
4.8m Membership customers
In EMEA Membership & HVAC, we are building multiple new opportunities and managing a productive transformation of our UK business.
As expected, Home Experts achieved the key milestone of divisional profitability this financial year, generating £4.3m of adjusted operating profit (FY21: £(10.2)m).
58k paying trades
Our homes are important to us, which makes it critically important that HomeServe does business responsibly. We focus on delivering for our customers; building the workforce of the future; supporting communities we touch; and transitioning to a lower carbon future.
Notice of AGM
The Annual General Meeting of HomeServe plc will be held on Friday 22 July at 10.00am.