Barratt Redrow Plc · LSE:BTRW
Barratt Redrow — Corporate Update (May 2025)
30 slides from Barratt Redrow's corporate update, May 1, 2025
Slide 1: Oregon Timber Frame Engineering Analysts' visit
Oregon Timber Frame Engineering Analysts’ visit 1 May 2025
Slide 2: Agenda for the visit
Agenda for the visit o 10.10 - Safety Introduction to Oregon Timber Frame Engineering’s Derby Facility o 10.15 - Presentation from Oliver Novakovic, Group Technical & Innovation Director with follow-on Q&A o 11.15 - Comfort break o 11.20 - Presentation from Peter Wade, Joint Managing Director, Orego
Slide 3: Innovation at Barratt Redrow and our MMC journey
Innovation at Barratt Redrow and our MMC journey Oliver Novakovic, Group Technical & Innovation Director
Slide 4: Overview of our modern methods of construction (MMC) journey
Overview of our modern methods of construction (MMC) journey 2022 2023 AIMCH Project concludes eHome2, a zero carbon home, 2016 providing key learnings in created to test the impact of standardisation, climate change and how homes 2007 Large format block 2019 (precast concrete blocks) 2018 automatio
Slide 5: Where we are: May 2025
Where we are: May 2025 There have already been incredible changes in housebuilding: • Biggest change in regulations the industry has seen in 40 years • Increased use and requirements for EPDs and sustainable materials • Demand to build more homes and build them quicker • Increased use of Modern Meth
Slide 6: Key considerations and road map for the business
Key considerations and road map for the business Short Term (Present - 3 years) Medium Term (3-6 years) Long Term (6+ years) Future Homes Standard Net Zero Carbon Homes* Net Zero Carbon Operations** 2025 2030 2040 ● Future Homes Standard (FHS) - ● Barratt to be net zero by 2030 – ● Barratt to be net
Slide 7: Modern methods of construction (MMC) is becoming increasingly important
Modern methods of construction (MMC) is becoming increasingly important ● MMC stems from the need for more efficient, sustainable and cost-effective building techniques ● Drivers for MMC adoption include; enhanced speed, sustainability, waste reduction, skills shortages and Health and Safety improve
Slide 8: Key drivers are increasing the need for further MMC adoption
Key drivers are increasing the need for further MMC adoption Sustainability L H Skill Shortages M H Quality Control H H Cost Certainty H H Past Present Past Present Past Present Past Present ● Barratt 2030 and 2040 ● Increasing labour constraints and ● MMC adoption and ● Cost certainty is a key driv
Slide 9: Risk management and governance
Risk management and governance Governance control points Barratt Redrow product implementation model (PIM) PIM STAGES 0 1 2 3 4 5 PIM has six key stages to ensure a robust review and rollout of innovative, Define problem Ideation & Short list Complete that builds on our New Product or opportunity re
Slide 10: MMC growth
MMC growth FY20 to FY24 MMC Percentage of Legal Completions • MMC and timber frame has 35% 33% 32% consistently grown over the 30% past five years 27% 25% 29% • Successful integration of 25% 27% Oregon fuelling the timber 21% frame growth 20% 21% • Surpassing our FY25 MMC 15% 17% Target two years ea
Slide 11: MMC development
MMC development Standardisation and optimisation Background The Group has been developing its approach to MMC for over 10 years. As timber frame volume grew, Group Design and Technical (GDT) simplified the Barratt range to be better suited to timber frame construction. GDT has further standardised t
Slide 12: Benefits of timber frame as the primary MMC system
Benefits of timber frame as the primary MMC system Carbon Build reduction acceleration up to 4.4 20 to 50% tonnes per Waste home reduced by Programme Productivity Sustainability predictability up to 27% H&S hazard Reduced exposure material reduced usage circa 20% Timber Frame Skills Improved Cost RO
Slide 13: Closed panel timber frame
Closed panel timber frame Overview: • New Derby production facility has capacity for c.1,000 closed panel timber frame kits per year • Further enhances the benefits of timber frame • Reducing the reliance of on-site skilled trades • Moving tasks into a controlled production facility environment Clos
Slide 14: Masonry vs timber frame carbon footprint
Masonry vs timber frame carbon footprint Traditional Other elements ~14% masonry Roof ~7% [4,040 kgCO2e] [1,880 kgCO2e] Timber frame Timber frame homes contain External walls ~38% ~5% less upfront carbon [A1- Windows & [10,690 kgCO2e] A5] overall than traditional First floor ~4% doors ~6% equivalent
Slide 15: We are well positioned with proven ability to deliver, but further opportunities exist
We are well positioned with proven ability to deliver, but further opportunities exist Forefront of the market Opportunities for MMC innovation International research Energy house Bathroom pod Closed panel timber frame ● Regulatory goals - eHome2 and Zed house ● Bathroom pods – fully finished bathro
Slide 16: Lightweight Cladding – Current Opportunities
Lightweight Cladding – Current Opportunities Group Design and Technical have assessed over 20 cladding systems as part of a recent full market review. The below summarises the key lightweight cladding options from this assessment as well as the key benefits. Drivers Key Benefits TopHat/Mauer Bricksl
Slide 17: Trials of Mauer Cladding Product
Trials of Mauer Cladding Product Sample Panel Trials Live Site Trial • We have constructed 2 trial structures using the Mauer • Delivered a whole house (show home) at Cotgrave, North Midlands cladding product at Oregon’s Derby facility. 17
Slide 18: Looking forward
Looking forward Drive greater standardisation and simplification through future housetype ranges 1 enabling other MMC innovations to be integrated into timber frame. Understand the full impact of the Future Homes Standard and measure carbon 2 impact for updated timber frame forecast volume. Increase
Slide 19: Thank You Questions?
Thank You Questions? 19
Slide 20: Oregon Timber Frame Engineering
Oregon Timber Frame Engineering Peter Wade, Joint Managing Director, Oregon Timber Frame Engineering.
Slide 21: Agenda
Agenda • Oregon Timeline • Potential Capacity • Derby Growth • Selkirk Expansion • Q&A 21
Slide 22: Timeline summary
Timeline summary Selkirk Derby Derby Selkirk New Acquisition Factory Factory Factory Offices of Oregon Expansion Started Operational Complete Complete 2019 2020 2021 2022 2023 2024 2025 2026 2027 We are here Turnover Future Turnover £30m Turnover £56m c. £140m 22
Slide 23: Oregon potential capacity
Oregon potential capacity Selkirk • Production facility expansion project will 4,000 increase capacity to c. 5,000 kits 4,000 3,500 3,400 2,500 1,100 Derby 4,000 5,000 3,000 • Opened July 2023 2,300 2,500 1,900 • Capacity growing as plan, to capacity of c. 2019 (A) 2024 (A) 2025 2026 2027 2028 Selki
Slide 24: Derby overview
Derby overview Selkirk Derby • Purpose built, by Wilson Bowden Developments, 186,806 square feet production facility. • Annual production capability: 4,000 timber frame kits. • c.200 people when fully operational. • £40m investment (£26m land and buildings, £14m plant and machinery) – delivered on t
Slide 25: Production lines
Production lines Weinmann manufacturing equipment: • Open Panel Line – 10m multiwall • Closed Panel Line – 10m multiwall • 8x Cassette Tables – up to 12m x 3.5m 25
Slide 26: Derby – output
Derby – output • Production began in July 2023. Derby Kits per Month • Strong volume growth 300 • 1,071 kits delivered in FY24 250 • Over 1,000 kits delivered H1 FY25 200 • On target for 2,400 kits in FY25 150 • Full planned operative headcount by FY26 100 (working twin shifts) 50 • Max. capacity c.
Slide 27: Selkirk – Site Expansion Plans
Selkirk – Site Expansion Plans North Factory Existing 42,000 sq. ft Extension 27,000 sq. ft Total 69,000 sq. ft (64% increase) South Panel Factory Existing 39,000 sq. ft South Floor Factory Existing 17,000 sq. ft Extension 8,000 sq. ft Total 25,000 sq. ft (47% increase) 27
Slide 28: Selkirk – new offices
Selkirk — new offices @) Barratt Redrow
Slide 29: Selkirk – expansion programme on track
Selkirk – expansion programme on track Office Building Start May 24 Building Finish Dec 24 Ready Feb 25 (IT Set Up, Furniture & Office Move) North Factory Building Start Nov 24 Building Finish Jun 25 Ready Oct 25 (Oregon Fit Out, Equipment, Car Park, Access Road) Equipment Acceptance Mar 26 (6 month
Slide 30: Thank You Questions?
Oreézon Thank You Questions?