Audited results for the year ending 31 March 2025

Bromford Flagship today reports a robust financial performance for FY2024/25, with strong margins, increased surplus and further investment in both existing homes and future development pipeline.

These results reflect the Group's financial resilience and its long-term strategy to invest £8bn over the next decade in housing-led, place-based transformation.

Key Highlights:

·    *Customer satisfaction at 80%: top quartile when compared to the rest of the housing sector

·    1,770 new homes, 1,698 affordable and 519 being for social rent

·    *Net surplus was £136m, an increase of £11m from last year

·    Increased operating margin (excluding sales) of 30% (2024: 29%)

·    Increased social housing operating margin of 33% (2024: 32%)

·    Invested £134m (2024: £114) in upgrading our existing homes

·    £359m (2024: £355m) invested in our pipeline of new homes

·    *EBITDA MRI interest cover remained broadly stable at 1.62x (2024: 1.67x)

·    £350m of new funding transactions secured, ending the year with £949m in cash and facilities immediately available

·    79% of homes now meet EPC C or above, improving comfort for thousands of customers

·    A2/A+ Moody's and S&P credit ratings

·    Colleague turnover reduced by 4.2% with 77% of colleagues saying Bromford Flagship is a great place to work

These results reaffirm Bromford Flagship's delivery model and ability to lead on regeneration and place-based growth, in alignment with national housing priorities and future funding partnerships.

The Group continues to engage with government and strategic partners to unlock long-term capacity and accelerate delivery across east, central and southwest of England.

The financial statement for year ended 31 March 2025 are available here.

If you have any specific questions, please contact Rachel Brook, Head of New Funding and Investor Relations (07718 966243).

*All TSM performance is reported for low-cost rental accommodation (LCRA). The peer data is taken from the Housemark TSM financial year 2023-24 year-end results. Peer group consisted of 221 landlords choosing to submit year-end TSM results for the period April 2023 to March 2024.

* EBITDA MRI (earnings before interest, tax, depreciation and amortisation (major repairs included)

*£136m surplus is before actuarial losses relating to pension schemes.