N-000Balfour Beatty plc — GROUPA
N-000 · STATEMENT
THE ORDER BOOK · issue AUG 2026

Balfour Beatty US,
documented from outside.

Every listed contractor publishes a reporting pack. This is one built from the outside — and it shows its work.

£10,767M
GROUP REVENUE
£4,509M
US CONSTRUCTION
£22.7BN
ORDER BOOK
22
US BUILDINGS TEAMS
Disclosure

Disclosure: Balfour Beatty US is an active joint-venture partner of ANDRES Construction Services on two concurrent Dallas projects (Knox Street; 8300 Douglas Avenue). This artifact's author has separately produced a companion record for ANDRES. The relationship is disclosed here, on the cover, in plain type.

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N-001 · STATEMENT
Basis of preparation

How to read this set

This note is what makes the other seventeen trustworthy. Forty seconds here and every stamp below has meaning.

AAUDITED

Primary source — a filing, an owned page, an official registry.

BREVIEWED

Reviewed — trade press or a secondary document corroborating a primary.

CCORROBORATED

Corroborated — a single credible secondary source.

DUNAUDITED — REFERENCE ONLY

Unaudited — an aggregator. Renders degraded. Never the sole support for a headline.

EDIRECTORS' JUDGEMENT

Directors' judgement — a reasoned inference or a self-asserted claim. The reasoning is exposed.

NOT DISCLOSED

The filing's own phrase for UNKNOWN. Never zero-filled, never interpolated.

Group revenue is not US revenue. This set never confuses them — and it will tell you when others do.

N-010 · NARRATIVE
The entity map — a correction

A structure diagram is a claim like any other.

The prior five-region Buildings diagram was wrong. Here is the evidence, and here is what replaces it.

Prior — CORRECTED
  • California
  • Southeast
  • Southwest-Texas
  • Mid-Atlantic
  • DC Metro

Five Buildings regions. Southeast and Southwest are actually Civils regions.

Observed — CONFIRMED
  • 22 published city / metro Buildings teams
  • Austin · Dallas · Fort Worth — three separate teams
  • Southwest → migrates into Civils
  • US Rail + Total Power Group — new units
The guard rail — nine assertions
NOT_SAME_ASBalfour Beatty plc (group) is not Balfour Beatty US / US Construction.Group revenue (£10,767M FY25) MUST NOT be attributed to US. US Construction FY25 = £4,509M.
NOT_SAME_ASUS Construction segment is not US Buildings.US Buildings is a sub-discipline within US Construction. Never equate segment revenue with Buildings revenue.
NOT_SAME_ASBalfour Beatty Construction, LLC (Buildings) is not Balfour Beatty Communities, LLC (housing).Different segments. A military-housing matter (incl. the DOJ plea) is NOT a buildings-contractor matter.
NOT_SAME_ASBalfour Beatty Construction, LLC (Buildings) is not Balfour Beatty Campus Solutions, LLC (PPP developer).Campus Solutions develops in Infrastructure Investments; it is not the GC on its projects.
NOT_SAME_ASBalfour Beatty US is not Balfour Beatty UK Construction.Distinct segments/entities. UK ISO 19650 practice does NOT transfer to US claims.
NOT_SAME_AS"Southwest" (Civils region) is not any Buildings region.Southwest is a Civils region. Austin/Dallas/Fort Worth are SEPARATE Buildings teams. 'The Southwest Buildings operation' is a fiction.
N-100 · STATEMENT
The order book

The namesake note

Group order book, FY2021–FY2025 (£bn). Up 23% year on year to a record £22.7bn.

AAUDITEDfy25 · FY2025 Full Year Results

Order book is forward. Revenue is historic. This set never adds them.

No segment redefinition crosses this window. The restatement machinery exists anyway — this note says so rather than staying silent.

N-200 · STATEMENT
Revenue and margin

Revenue up 24%. Margin fell to 0.6%.

US Construction segment revenue and underlying margin, shown together without editorialising. The company attributes the margin fall to cost overruns on a single US Civils project.

AAUDITEDfy25
Group profit FY2025 — paired
£252M
underlying
£284M
statutory

Underlying never renders without statutory beside it. That is a load-time law here.

US Buildings share of segment
EDIRECTORS' JUDGEMENTscope_of_responsibility

more than $5 billion in revenue and more than 5,000 employees

A management remit statement is not an audited metric. Both are recorded. Neither is converted into the other. — sat beside the audited £4,509M, not converted into it.

N-300 · STATEMENT
The Texas paradox ⚠ coverage incomplete (002c not run)

Two facts in tension

$746M
I-35 Capital Express Central · Austin
TxDOT 2024 · Balfour Beatty Infrastructure, Inc.
$889M
I-30 · Dallas
TxDOT 2025 · Balfour Beatty Infrastructure, Inc.

Balfour Beatty won $746M and $889M from TxDOT — while a Texas Civils job dragged the whole US segment to 0.6%. The awards and the pain sit in the same state, different divisions.

NOT_SAME_AS2811 Kirby / Lily River Oaks (Houston) is not a Balfour Beatty JV. ANDRES is sole GC. Asserted in prior work, refuted here.

The confirmed ANDRES JVs — Knox Street, 8300 Douglas — pin to Dallas. Texas regulatory detail (TDLR/permits) is not yet loaded; this note ships with its gap visible.

N-310 · STATEMENT
The portfolio · coverage 25%

Tier-A flagships only

This note states its own 25% coverage rather than implying completeness. Cause on its face: the target's project grid is JavaScript-rendered and did not yield to text extraction.

LAX Automated People Mover
Aviation P3 · Balfour Beatty Investments
Penn Medicine Pavilion
Healthcare · Balfour Beatty Construction, LLC
Harkers Island Bridge
Civils · Balfour Beatty Infrastructure, Inc.
Sterling Natural Resource Center
Water/Civic · Balfour Beatty Construction, LLC
The Wharf
Mixed-use · Balfour Beatty Construction, LLC
Alaska Airlines HQ
Corporate · Howard S. Wright
N-320 · NARRATIVE
Federal — ceiling versus obligated ⚠ declared partial

We could not obtain the audited figures.

USASpending renders client-side; the API was not retrievable. Three aggregator totals disagree — and all three render UNAUDITED, side by side, unreconciled. The disagreement is the content.

Gross all-time versus action-level net versus differing treatment of the MCRD San Diego option exercise. Rather than publish an aggregator number as if it were audited, this note publishes the disagreement.

AAUDITEDidentifier registry — resolved as a correction
MC43JF2W7KM3CAGE 013B0Balfour Beatty Construction, LLCcurrent
PTGXMFECHVL6CAGE 1F5S2Balfour Beatty Infrastructure, Inc.current — supersedes prior
JGHFQCVFLK85CAGE 474P3Balfour Beatty Infrastructure, Inc. (prior)expired
E7HFLPCYJL43CAGE 0YX34Howard S. Wright Construction Co.legacy (lapsed WA reg)
N-330 · NARRATIVE
Concessions — the 30-year view

Where the group may build, own and operate

Every multi-role asset carries a visible double-count note. Construction revenue and equity valuation are separate, non-summable quantities.

LAX Automated People Mover
BREVIEWED
equity: Balfour Beatty Investments (27%)design-build: LINXS consortium
Double-count note

Construction revenue and equity valuation are separate, non-summable quantities. Balfour Beatty does NOT hold the O&M role.

Fort Bliss / Fort Gordon / Fort Carson (military housing)
BREVIEWED
owner/operator: Balfour Beatty Communities
Double-count note

A Communities (Infrastructure Investments) asset. NOT a US Construction / Buildings project.

UT Dallas Northside Phase 2 (student housing)
AAUDITED
developer: Balfour Beatty Campus Solutionscontractor: ANDRES Constructionmanager: Balfour Beatty Communities
Double-count note

Rendering this as 'Balfour Beatty built it' would be false and checkable. Balfour Beatty Construction (Buildings GC) is NOT involved.

N-400 · NARRATIVE
The technology function

An IT-shaped centre, a federated edge

At the centre
Kasey BevansSVP & Chief Information Officer

CIO since 2005. Senior US tech function is IT-shaped, on Procore/Autodesk/Microsoft advisory boards.

A board seat with deployment evidence renders differently from a board seat without: Procore standardised across all US projects (2019); Autodesk via the Omni Dallas Hotel; Microsoft via the £7.2M M365 Copilot commitment and the Dallas AI hackathon.

Dominic Corrado
Director of Construction Technology, Texas & Arizona
Sam Burns
Director of VDC, Southeast
Elizabeth Angel
Director of BIM & VDC, Howard S. Wright
Bevan Mace, Ph.D.
VP, Mid-Atlantic (oversees construction technology)

No national VDC or BIM director is published on any of the three official leadership pages. This is an absence we measured, not one we assumed.

Boxed separately — outside VDC

StoaOne — the group's internal LLM document assistant, confirmed by the group CEO on the FY23 earnings call. It sits with the CIO, outside the VDC boxes. That placement is the finding.

N-410 · NARRATIVE
The decay curve

A 2022 innovation page, read in 2026

BIM and VDC publishing spikes at a single December 2022 batch, then flatlines. 2025–26 re-points entirely to Civils work-zone-safety telematics and CIO-led AI.

Every point carries content_published_at. Undated interactive microsites are not interpolated onto this curve.

N-420 · NARRATIVE
Open requisitions

What they are hiring for, right now

BIM/VDC SpecialistAtlanta
posted:NOT DISCLOSED
Senior VDC EngineerAtlanta
posted:NOT DISCLOSED
BIM/VDC SpecialistOrlando
posted:NOT DISCLOSED
BIM/VDC ManagerDallas
posted:NOT DISCLOSED
BIM/VDC SpecialistSouthern California
posted:NOT DISCLOSED
VDC EngineerSouthern California
posted:NOT DISCLOSED

Tool frequency across the postings — and “R5 workflow,” an internal standard named in a job description that no public document defines. Req age is NOT DISCLOSED: Dayforce detail pages are JavaScript-rendered.

N-430 · NARRATIVE
★ The ISO 19650 finding — the centrepiece

The parent runs to a standard the US business never mentions.

UK — PRESENT

Balfour Beatty plc accredited to BS/PAS 1192 and subsequently ISO 19650. UK job postings require ISO 19650 information management with named CDE platforms (Viewpoint, SharePoint, Aconex).

AAUDITED
US — ABSENT (measured)

Zero occurrences across owned content, job requisitions, and the one located competitive procurement document (City of Garden Grove P3 RFQ S-1314, 2023-08-28 — names Bluebeam, Navisworks, AutoCAD; cites no standard). The only named US standard is the undefined 'R5 workflow'.

Evidence of absence across multiple independent source classes — upgraded from 'could not find'. Resolved for US Buildings. UNRESOLVED for US Civils and Howard S. Wright.

AAUDITED

That gap is not a criticism. It is a seam — and seams are where work gets done.

N-500 · STATEMENT
Key audit matters

The contradiction ledger

Every disagreement ships with both assertions preserved and its resolution rule stated. Nothing is silently resolved.

KAM-01CORRECTED
Prior five-region Buildings diagram (CA / Southeast / Southwest-TX / Mid-Atlantic / DC Metro)
22 published city/metro Buildings teams

rule: Primary site nav enumerates 22 teams; Southeast/Southwest are Civils regions.

KAM-02REFUTED
2811 Kirby asserted as a BB/ANDRES JV (prior work)
ANDRES is sole GC; Balfour Beatty not a party

rule: Bisnow + Southern Land + Connect CRE. BB has no Houston Buildings team.

KAM-03REFUTED
Wave 0: 'no AI narrative anywhere'
StoaOne, confirmed by group CEO on FY23 call (2024-03-13)

rule: Later evidence supersedes.

KAM-04OPEN
$311.4M gross all-time
$313.6M net / $95.2M option-adjusted

rule: Three aggregator totals, differing methods. All UNAUDITED. Ships OPEN.

KAM-05RESOLVED
BB Infrastructure UEI JGHFQCVFLK85 (prior)
UEI PTGXMFECHVL6 (current)

rule: Prior record expired; current supersedes.

KAM-06OPEN
Fort Bliss 4,600 homes
Fort Bliss 4,800 homes

rule: Sources disagree. Preserved OPEN.

KAM-07OPEN
TPG base Greensboro NC
TPG base Goldsboro NC

rule: BusinessWire vs AJOT. Unverifiable. OPEN.

KAM-08QUALIFIED
Prior: 'mature centralised VDC function, no empty seat'
Federated regional VDC, standard-less, no national seat

rule: Three regional directors, no national head published.

A record you can trust is one that logs its disagreements.

N-900 · STATEMENT
Basis and coverage

Nine dimensions. Nine meters. Never one score.

Group → segment structure100%
US Buildings team enumeration95%
gap: per-team P&L NOT DISCLOSED
Statutory financials90%
Identifiers55%
gap: UEIs for Communities, Rail Inc, Construction Group Inc not resolved
Federal awards10%
gap: USASpending client-side rendered; API not retrieved
Concessions85%
Technology & VDC80%
gap: exact live requisition count not exposed
Portfolio25%
gap: project grid JavaScript-rendered
Texas regulatory (002c)NOT RUN
gap: not run — TDLR TABS, municipal permits
Blocked sources — named with reasons
  • · USASpending — client-side rendering
  • · Dayforce — JavaScript detail pages
  • · Project-portfolio grid — JS-rendered
  • · Texas SOSDirect — paywall
  • · LinkedIn — login wall
Behind the gate

Two notes sit on the gated tier: N-600 Exposure (matters recorded by business unit, resolutions attached, never aggregated) and N-700 The Fit (the author’s argument, evidence classes applied to his own record). The methodology is the public argument; the candidacy is a private one.

Enter with passcode →
N-999 · NARRATIVE
Signature block

Method colophon

Compiled from a multi-wave research library: entity resolution, owned properties, technical corpus, statutory / federal / concessions, and a fit layer. Every figure resolves to a claim with a source ID and an evidence class.

INFRATEK builds claim-centric intelligence: records that show their attribution, their uncertainty and their disagreements. This one was built about a listed company, from the outside.

Disclosure: Balfour Beatty US is an active joint-venture partner of ANDRES Construction Services on two concurrent Dallas projects (Knox Street; 8300 Douglas Avenue). This artifact's author has separately produced a companion record for ANDRES. The relationship is disclosed here, on the cover, in plain type.

INFRATEK · balfour.infratek.ai · issue AUG 2026