REG - Ashtead Tech Hldgs - Year End Trading Update

Ashtead Technology HoldingsAnnouncement

23/01/2025 07:00

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RNS Number : 3673U  Ashtead Technology Holdings plc  23 January 2025

23 January 2025

Ashtead Technology Holdings plc

("Ashtead Technology" or the "Group")

 

Year End Trading Update

Continued positive momentum through 2024; full-year profit expectations ahead
of consensus

 

Ashtead Technology Holdings plc (AIM: AT.), a leading subsea equipment rental
and solutions provider for the global offshore energy sector, is pleased to
provide an update on its financial performance for the year ended 31 December
2024.

The Group continued to demonstrate robust performance throughout 2024.
Unaudited full-year revenues for 2024 are projected to be around £168m with
full year adjusted EBITA expected to be ahead of consensus. A strong trading
end to 2024, ongoing market demand and record customer backlogs provides
confidence that growth will continue through 2025 in line with previous
guidance.

Allan Pirie, Chief Executive Officer, commented:

"We are pleased with our strong full-year financial performance. The
integration of Seatronics and J2 Subsea is progressing well and provides
further positive momentum for growth. With one of the largest and most
technologically advanced rental fleets in the industry and a continued focus
on operational excellence, we remain confident in the Group's ability to
generate substantial long-term value for shareholders."

Analyst consensus for FY 2024 was revenue of £167m and adjusted EBITA of
£46.6m. More details are available at
https://www.ashtead-technology.com/investors/analyst-consensus/
(https://www.ashtead-technology.com/investors/analyst-consensus/) .

For further information, please contact:

 

 Ashtead Technology                                   (Via Vigo Consulting)

 Allan Pirie, Chief Executive Officer

 Ingrid Stewart, Chief Financial Officer

 Colin Ross, Chief Strategy & Marketing Officer

 Vigo Consulting (Financial PR)                       Tel: +44 (0)20 7390 0230

 Patrick d'Ancona                                      ashteadtechnology@vigoconsulting.com

 Finlay Thomson

 Verity Snow

 Deutsche Numis (Nomad and Broker)                    Tel: +44 (0)20 7260 1000

 Julian Cater

 George Price

 Kevin Cruickshank (QE)

 

Notes to editors:

Ashtead Technology is a leading subsea equipment rental and 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.

Ashtead Technology's offering is applicable across the lifecycle of offshore
wind farms and offshore oil and gas infrastructure with over 85% of its
equipment fungible across both markets.

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/)

This announcement contains inside information as defined in Article 7 of the
retained EU law version of the Market Abuse Regulation No 596/2014 ("UK MAR")
and has been announced in accordance with the Company's obligations under
Article 17 of UK MAR.

The person responsible for arranging the release of this announcement on
behalf of Ashtead Technology is Ingrid Stewart, CFO / Director.

 

 

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