25
Strategic report
OCU Group | Annual report and financial statements 2025
Governance
Financial statements
Chair’s statement
A year of strategic expansion and positive community impact This financial year has been significant for OCU Group as we have strengthened our position in the energy transition, utilities and digital infrastructure markets. This success is underpinned by our robust governance, operational excellence, organic growth, and strategic acquisitions, all of which have not only accelerated growth and expanded our capabilities but also had a positive impact on the communities we serve. 2025 has been a year of expansion for OCU Group. We have integrated strategic acquisitions including RJ McLeod, which has greatly enhanced our capabilities in Scotland and has been key in expanding our service offerings in the energy transition sector. Our organic growth has been equally impressive, notably our maintenance contract win with VMO2 and the renewal of the Northern Powergrid CESC Framework highlight our ability to expand our market presence and capabilities through both acquisitions and organic growth. Our ability to deliver synergies from acquisitions remains a key differentiator. By rapidly integrating our acquired businesses, we unlock cross-selling opportunities and shared efficiencies across our operations. This approach strengthens our service offerings, deepens client relationships, and accelerates both revenue growth and margin improvement. Our focus on evolving our organisational structure has been crucial in maintaining and expanding our market leadership. The establishment of three distinct business units, OCU Energy, OCU Utilities, and RJ McLeod, has allowed us to streamline operations and enhance our focus on specific market sectors.
This structural alignment has enabled us to realise cross‑business unit synergies and effectively capture growth in our target markets and to diversify OCU’s revenue streams across regulated power, energy transition, water, and digital infrastructure markets. Our recent acquisition of AEC represents a pivotal milestone, enabling OCU to enter the high-potential Australian and New Zealand renewable energy markets. Led by founder Steve Urquhart, the experienced AEC management team shares our values and ambition, bringing operational excellence and significant growth opportunities for the combined Group. Operational excellence and commitment to safety Our operational delivery this year has been characterised by a relentless focus on health and safety, stringent cost control, and a commitment to sustainability. Continued investment in Group Services has driven improved operating leverage, reflected in the reduced proportion of overheads relative to revenue. The successful integration of our ‘Think Safe + Work Safe = Home Safe’ campaign across all operations, supported by our OCU One platform, continues to uphold our safety standards. Over the past few years, the expansion of our site footprint has transformed OCU from a regional player to a leading UK-wide company, enhancing our ability to support clients locally and nationally. Our commitment to operational excellence is further evidenced by our investment in innovative technologies such as the UK’s biggest pipe pusher and the new fleet of 18 e-hotboxes which have both been instrumental in advancing our capabilities in the water and regulated power sectors respectively.
David Taylor-Smith, MBE Non-Executive Chair
I am pleased to report that this financial year, OCU Group has significantly strengthened its presence in the critical sectors of energy transition, utilities infrastructure, and digital infrastructure, all supported by robust governance and excellent operational performance.
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