2020 in review

Emerging stronger from a difficult year

We have taken a careful approach to the pandemic, putting the health and safety of our employees, customers, subcontractors and partners first, while setting the business up in a responsible and sustainable way to emerge stronger from this crisis.

Chairman's statement

Chief Executive's statement

Group financial review

Strategy and priorities

We came into 2020 with a renewed focus on reducing costs and increasing efficiency, after a period of margin pressure and increased investment in the long term future of the business, which is now substantially complete.

Our clear primary performance focus is on returning the business to c.21-22% operating profit margin in the medium term.

Taylor Wimpey strategy wheel

Environmental strategy

Our business has a significant environmental footprint through the resources we use and the emissions associated with our operations, supply chain and the homes we build.

In 2020, we have reviewed our approach to the environment and developed a new set of challenging targets. The launch of our environment strategy will allow us to play our part in creating a greener, healthier future for our customers, colleagues and communities.

Development with pond

Definitions

* Operating profit is defined as profit on ordinary activities before net finance costs, exceptional items and tax, after share of results of joint ventures.
** Return on net operating assets (RONOA) is defined as rolling 12-month operating profit divided by the average of the opening and closing net operating assets, which is defined as net assets less net cash, excluding net taxation balances and accrued dividends.
*** Operating cash flow is defined as cash generated by operations (which is before taxes paid, interest paid and payments related to exceptional charges).
‡‡* Return on capital employed (ROCE) is defined as 12-month rolling operating profit divided by average capital employed calculated on a monthly basis over the period.
† Adjusted basic earnings per share represents earnings attributed to the shareholders of the parent, excluding exceptional items and tax on exceptional items, divided by the weighted average number of shares in issue during the period.
†* Net operating asset turn is defined as 12-month rolling total revenue divided by the average of opening and closing net operating assets.
‡ Net cash / (debt) is defined as total cash less total borrowings.
‡‡ Cash conversion is defined as operating cash flow divided by operating profit on a rolling 12-month basis.
‡‡‡ Adjusted gearing is defined as adjusted net debt divided by net assets. Adjusted net debt is defined as net cash less land creditors.

Downloads

Annual Report and Accounts 2020

Strategic report

Directors’ report: governance

Financial statements

Notice of 2021 Annual General Meeting

Sustainability Report 2020

Gender Pay Gap Report 2021