REG - Ashtead Tech Hldgs - AGM Trading Statement

Ashtead Technology HoldingsAnnouncement

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RNS Number : 1659F  Ashtead Technology Holdings plc  21 May 2026

21 May 2026

Ashtead Technology Holdings plc

("Ashtead Technology" or the "Group")

AGM Trading Statement

Ashtead Technology Holdings plc (LSE: AT.), a leading provider of subsea
technology solutions to the global offshore energy sector, issues the
following trading update ahead of its Annual General Meeting to be held at
10.00am today.

Current Trading and Outlook

Trading through the first quarter of the year was in line with the Board's
expectations. The business has experienced some regional disruption since
early March as a result of the ongoing conflict in the Middle East and
continues to work closely with its customers to monitor and manage this
situation.

Whilst the duration and impact of the conflict in the Middle East, and the
potential secondary effect on our broader operations and markets, remains hard
to predict, the Board is cautiously optimistic in the outturn for the year,
and its performance expectations are unchanged. This assumes a seasonally
stronger second half, in keeping with prior years, and no sustained impact
from the current geopolitical tensions.

With growing demand for energy and an increased acknowledgement of the
importance of energy security around the world, Ashtead Technology's scaled,
geographically diversified footprint and agile operating model positions it
well to capitalise on the attractive long-term structural growth drivers
across its end markets.

Balance Sheet

The Group's highly cash generative business model underpins its strong balance
sheet, with net debt still expected to improve to below 1.0x by the end of
2026.

Half Year Trading Update

The Group will issue a Half Year Trading Update covering the six months ending
30 June 2026, in July.

-Ends-

 

For further information, please contact:

 Ashtead Technology                               (Via DGA Group)

 Allan Pirie, Chief Executive Officer

 Ingrid Stewart, Chief Financial Officer

 DGA Group (Financial PR)   Tel: +44 (0)7510 385 554

 Jonathon Brill             ashteadtechnology@dgagroup.com

 James Styles

 

Notes to editors:

Ashtead Technology is a leading subsea technology solutions provider to the
global offshore energy sector. Ashtead Technology's specialist equipment,
engineered solutions, technical expertise and support services enable its
customers to understand the subsea environment and manage offshore energy
production infrastructure. Ashtead Technology operates globally, servicing
customers from its facilities located in key offshore energy hubs. To learn
more, please visit www.ashtead-technology.com
(http://www.ashtead-technology.com)

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