RSK water revenue reaches £982.5m as group reports FY26 growth

RSK Group generated £982.5 million from the water sector during its 2026 financial year, making water the environmental and engineering group’s largest market as overall revenue increased by 10.3%. The company reported total revenue of £2.47 billion for the period from 7 April 2025 to 5 April 2026, alongside EBITDA of £152.1 million, up 24.2%. RSK said its results reflected organic growth, acquisitions and an increased focus on commercial performance across its portfolio of businesses.

Water becomes RSK’s largest sector

Water generated £982.5 million in revenue during FY26, equivalent to almost 40% of RSK’s £2.47 billion group revenue. The company’s other major markets included the built and natural environment at £614.7 million, energy at £452 million and infrastructure at £423.4 million. RSK said demand across its markets continues to be supported by long-term investment requirements in areas including water security, environmental protection, infrastructure renewal, climate adaptation, energy transition and sustainable development. Across the group’s service categories, environmental solutions accounted for 53% of revenue, followed by engineering and design consulting at 25%, environmental consulting at 15%, and testing, inspection, certification and compliance at 7%.

RSK reports £2.47bn in group revenue

Net fee income increased 20.2% during the year to £1.33 billion, while EBITDA rose 24.2% to £152.1 million. The EBITDA margin increased by 30 basis points to 11.4% of net fee income. Adjusted EBITDA increased 32.1% to £225.7 million and operating profit reached £18.1 million. Cash generated from operations totalled £117.2 million, with operating free cash flow conversion reported at 77.1%.

“FY26 was another year of progress. We continued to grow the business, generated healthy cashflow and invested in the capabilities, systems and technologies that will support the next stage of our development,” said Alan Ryder, Chief Executive Officer of RSK Group. “Importantly, we did this while remaining focused on our mission and the principles that have guided RSK since its formation.”

Group expands to more than 200 businesses

RSK ended FY26 with more than 200 businesses operating across over 40 countries and a workforce exceeding 17,000 people. During the year, the group reorganised its operations from nine trading divisions to six, with each supported by a divisional board responsible for strategy, performance and collaboration. The company said the structure is intended to make its wider range of services clearer to customers and increase collaboration and cross-selling between businesses while maintaining the operational autonomy of individual companies. RSK describes this structure as its “lily pad” model, under which specialist businesses retain their technical expertise, local accountability and customer relationships while gaining access to capabilities elsewhere in the group.

“Our family of specialist businesses is one of RSK’s greatest strengths. Each business retains its entrepreneurial spirit, technical expertise and close client relationships, all while being supported by the larger group,” Ryder said. “We create even greater value when businesses collaborate and combine complementary capabilities.”

Ten acquisitions completed during FY26

Acquisitions continued to form part of RSK’s growth strategy, with the company completing ten strategic acquisitions during FY26. More than £172 million was invested in expanding the group’s capabilities and geographic reach. RSK also increased its focus on areas including project selection, pricing, utilisation, margin protection, cash discipline and collaboration between its businesses.

“FY26 was another year of strong financial performance, driven by solid organic growth and continued execution of strategic acquisitions. Strong operational discipline and a continued focus on commercial excellence led to improved margins,” said Andrew Markwick, Chief Financial Officer of RSK Group. “Revenue, net fee income, EBITDA and cash generated from operations all increased compared to the previous year and as RSK continues to grow, our focus is on delivering a consistently strong financial performance, while maintaining disciplined investment in the people, capabilities and systems that support long-term success.”

RSK reports progress against sustainability targets

Alongside its Annual Report, RSK has published its FY26 Sustainability Report. The group said 92% of its revenue during the year was associated with projects aligned with International Capital Market Association green bond categories. RSK reported a 38% reduction in greenhouse gas emissions intensity against its FY20 baseline and published its first climate transition plan, setting out a pathway towards net zero greenhouse gas emissions by 2040. The company also reported £142 million in social value generated by its UK businesses and £80.9 million invested in research and development. Its latest EcoVadis assessment resulted in a silver medal and placed the group in the 87th percentile.

Financing savings reinvested in sustainability projects

RSK said it met all sustainability-linked key performance indicators associated with its financing agreement during FY26. The resulting £966,000 interest-rate saving was reinvested in sustainability projects and community initiatives. The group also conducted its first company-wide employee engagement survey, recording an overall engagement score of 78. During its Safety Month programme, 16,444 employees, representing 98% of the eligible workforce, participated in safety workshops.

“Sustainability is embedded in our business strategy and in the work we deliver every day. With 92% of revenue linked to activities aligned with ICMA Green Bond Principles, we are helping clients tackle environmental and social challenges while creating long-term value,” said Lucy Thomas, Chief Scientist at RSK Group.

RSK sets out FY27 priorities

RSK said its FY27 priorities will include organic growth, improved margins and cash conversion, investment in technology and further disciplined acquisitions. The programme forms part of the group’s wider 2030 Global Strategy covering people and culture, financial performance, sustainability, innovation and client relationships. Ryder said the company would continue investing in its workforce and sustainability while seeking to make greater use of the scale and technical capabilities available across the group. The full RSK Annual Report and FY26 Sustainability Report are available online.