REG - Ashtead Tech Hldgs - Full Year Trading Update

Ashtead Technology HoldingsAnnouncement

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RNS Number : 3322P  Ashtead Technology Holdings plc  19 January 2026

19 January 2026

Ashtead Technology Holdings plc

(the "Group" or the "Company")

 

Full Year Trading Update

 

Strong margin performance delivers adjusted EBITA ahead of expectations

Well positioned for strategic progress through 2026

 

Ashtead Technology Holdings plc (AIM: AT.), a leading provider of subsea
technology solutions to the global offshore energy sector, is pleased to
provide an update on its financial performance for the year ended 31 December
2025.

 

Strong operational execution and disciplined approach to quality of revenue
drive strong profitability and return on capital despite geopolitical and
business environment uncertainties

 

Full year revenue is expected to be approximately £203 million (2024: £168
million), with second half revenues c. 5% higher than the first half. This
performance represents a year-on-year increase of c. 21%, including organic
growth of 3%.

 

Following the acquisitions in Q4 2024, the Group has successfully completed
the integration of Seatronics and J2 Subsea, achieving synergies ahead of
forecast and reducing lower margin activities in the acquired businesses.
Together with business mix enhancements and a continued focus on operating
efficiencies across the wider Ashtead Technology business, this is expected to
result in a full year adjusted EBITA margin towards the top end of the Group's
medium-term target, delivering a result for the full year slightly ahead of
market profit expectations(1).

 

A stronger trading performance in the second half, alongside improved
visibility provided through the mobilisation of various longer-term projects
originally delayed through H1 2025, creates improving momentum in our business
as we enter 2026.

 

Robust balance sheet provides solid platform for further progress

 

Strong cash conversion resulted in Group leverage reducing to under 1.4x at
the year end. Net debt is expected to improve further to below 1.0x by the end
of 2026. The business will maintain its disciplined approach to capital
allocation and expects to invest c. £35 million in capital expenditure during
2026 to support its customers, drive returns, and further growth.

 

Allan Pirie, Chief Executive Officer, commented:

 

"We are pleased with our full-year financial performance through 2025 and have
made significant progress in expanding our international footprint and
widening and deepening the offering to our customers during the year. Our
strong balance sheet, diversified geographical footprint, differentiated
service capability, and track record of providing innovative solutions to our
customers, positions us well as we enter the new financial year.

 

"We are focussed on executing our strategic growth plans and remain confident
in the Group's ability to generate significant value for shareholders over the
medium-term."

 

 

(1)Company compiled analyst consensus for FY2025 is for revenue of £205.8
million and adjusted EBITA of £57.7 million. More details are available at
https://www.ashtead-technology.com/investors/analyst-consensus/
(https://www.ashtead-technology.com/investors/analyst-consensus/)

 

 

-Ends-

 

For further information, please contact:

 

 Ashtead Technology                        (Via DGA Group)

 Allan Pirie, Chief Executive Officer

 Ingrid Stewart, Chief Financial Officer

 Deutsche Bank AG (Joint Broker)           Tel: +44 (0)20 7260 1000

 Julian Cater

 George Price
 Peel Hunt (Joint Broker)                  Tel: +44 (0)20 7418 8900

 Edward Allsopp

 Charlotte Sutcliffe

 Tom Graham

 DGA Group (Financial PR)                  Tel: +44 (0)7566 794 033

 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,
advanced-technologies and support services enable its customers to understand
the subsea environment and manage offshore energy production infrastructure.
Headquartered in the UK, 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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