Stephen Rawlinson's questions to Balfour Beatty plc/ADR (BAFBF) leadership • H1 2023
Question
Stephen Rawlinson of Applied Value asked who bears the cost of ESG initiatives as 2030 targets approach and questioned if the company might use M&A to acquire technology or skill sets, given it's a stated part of the capital allocation framework.
Answer
CEO Leo Quinn responded that customers generally expect Balfour Beatty to absorb ESG costs in a competitive market. Regarding M&A, he clarified the company avoids large project acquisitions but will acquire smaller capabilities, particularly in technology and digitization to enhance productivity and safety, citing a partnership with SiteAssist as an example.