REG - Facilities by ADF - Trading Update

Facilities by ADFAnnouncement

11/02/2022 07:00

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RNS Number : 3614B  Facilities by ADF plc  11 February 2022

11 February 2022

Facilities by ADF plc

("Facilities by ADF", the "Company" or the "Group")

Trading Update

 

Facilities by ADF, the leading provider of premium serviced production
facilities to the UK film and high-end television industry, today announces a
trading update for the year ended 31 December 2021 ("FY21").

The Board is pleased to confirm that following a strong close to 2021, and
subject to audit, it currently expects the Group to report FY21 revenues of
c.£27.8 million and adjusted EBITDA* of not less than c.£7.5 million, ahead
of current market expectations.

Market dynamics continue to be strong with continued robust demand for film
and high-end television the UK. This is further supported by unprecedented
levels of investment in UK studio space and content, which bodes well for the
Company's growth ambitions.

The Company raised £15m of gross proceeds on admission to trading on AIM and
has already started to invest by expanding orders for additional vehicles and
trailers to meet demand. Further, management is actively reviewing initial
acquisition opportunities in line with the Group's strategy detailed at
Admission.

The Group continues to have strong order visibility for this financial year as
well as a growing order book for 2023.

*Earnings before interest, taxes, depreciation and amortisation ('EBITDA')
adjusted for IPO costs and share-based payments.

 

Marsden Proctor, CEO, said:

"I'm very pleased with the start we have made as a public company. We have an
excellent customer base and a market backdrop which is seeing vast amounts of
investment in the UK film and HETV industry. As we deploy the funds raised at
IPO, we will continue to execute our ambitious, yet highly achievable growth
strategy."

 

For further enquiries:

 

 Facilities by ADF plc                                        via Alma PR

 Marsden Proctor, Chief Executive Officer

 Neil Evans, Chief Financial Officer

 John Richards, Chairman

 Cenkos (Nominated Adviser and Broker)                        Tel: +44 (0)20 7397 8900

 Ben Jeynes / Max Gould / George Lawson - Corporate Finance

 Alex Pollen - Sales

 Alma PR (Financial PR)                                       Tel: +44 (0)20 3405 0205

 Josh Royston                                                 facilitiesbyadf@almapr.co.uk

 Andy Bryant

 John Coles

 Molly Gretton

 

 

This announcement contains inside information for the purposes of the UK
Market Abuse Regulation and the Directors of the Company take responsibility
for this announcement.

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