AnnualReportFinancialStatments2023

Annual Report &

Annual Report & Financial Statements 2023 Chief Executive’s Review Cont. Strategic Report Results First time buyers 67% of the homes we sold privately on the open market were to first time buyers. Group revenue increased by over 11% to £864.6m (2022: £778.1m) and Adjusted EBITDA was £101.4m (2022: £114.3m), achieved on delivery of 4,074 (2022: 3,776) new homes. The average selling price of our homes increased by 3.4% to £211,000, reflecting the continued demand for our high-quality, affordable new homes and changes in the mix of homes sold. In this challenging market, Keepmoat has proven itself to be a resilient and agile business, able to delight both customers and occupiers. We are proud that our unique Partnership Business Model underpinned by our multi-tenure offering and the attractiveness of our product, combined with our strong and longstanding relationships with our partners, has enabled us to successfully maintain good build progression across our sites. In response to the softening of private buyer demand from late 2022, we have supported our volumes through the delivery of 828 plots through elective multi-unit deals with our Registered Provider and Private Rented Sector (PRS) partners (2022: 87 plots), with overall delivery to Registered Providers making up 45.0% of our total completions in the year. Sustainability Sustainability is fundamental to our Partnership Business Model, and our Building Communities Transforming Lives Vision. We are a leading partner with both Homes England and local authorities, who share our objective to build sustainable communities. A major example during the year has been our pilot of the Future Homes Standard at Gedling Green, supporting our partners, and the wider industry, to learn more about both building low carbon homes and how customers interact with new technologies. In recognition of the clear link between sustainable business practices and sustainable financial performance, we have evolved this report and applied integrated reporting principles to make these links even clearer for our stakeholders. A particular highlight of the year has been the publishing of our Sustainability Roadmap, clearly setting out our sustainability programme now and over the years ahead. In line with our public commitment to do so, we submitted science-based and net zero carbon reduction targets to the Science Based Targets initiative (now verified), aligned to ambitions to restrict global heating to 1.5 degrees, and we have published our first disclosure aligned with the recommendations of the Taskforce for Climaterelated Financial Disclosures, which you can read later in this report. Revenue 11.1% increase; £778.1m in 2022 £864.6m Adjusted EBITDA¹ 11.3% decrease on the previous year, £114.3m in 2022 £101.4m Homes sold 7.9% increase 3,776 in 2022 4,074 Average selling price 3.4% increase from £204k in 2022 £211k 6 KEEPMOAT.COM 7