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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

Revenue
£1,429.3m
+10% from £1,304.7m
Statutory operating profit
£202.6m

+182% from £71.8m*

* FY21 statutory operating profit and basic EPS after exceptional charge of £92.4m.

Basic earnings per share
39.5p

+327% from 9.3p*

* FY21 statutory operating profit and basic EPS after exceptional charge of £92.4m.

Ordinary dividend per share
6.8p*

-74% from 26.0p

*In light of the recommended cash offer for the Group announced on 19 May 2022, the Board is not recommending a final dividend. The total dividend for the year therefore consists of the interim dividend of 6.8p per share declared in November 2021.

Chairman & CEO statements

Tommy Breen

Chairman’s statement

“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.”

Download Statement PDF 82KB
Richard Harpin

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.”

Download Statement PDF 154KB

Strategic updates

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.

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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.

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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.

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Operating highlights

North American Membership & HVAC delivered a strong financial performance. The strong growth we are seeing is sustainable, thanks to disciplined management.

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4.8m Membership customers

In EMEA Membership & HVAC, we are building multiple new opportunities and managing a productive transformation of our UK business.

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3.5m customers

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).

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58k paying trades

Responsible business

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.

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Notice of AGM

The Annual General Meeting of HomeServe plc will be held on Friday 22 July at 10.00am.

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Full Annual Report 2022AGM NoticeStrategic Report
Responsible BusinessRemuneration ReportPrincipal Risk and Uncertainties
Operating ReviewMarket OverviewGovernance
Financial StatementsChief Executive's ReviewChairman's Statement
Business Model and StrategyAt a glance

2022

Annual Report

Annual Report 2022