Facilities by ADF plc Trading Update (3614B)
February 11 2022 - 12:59AM
UK Regulatory
TIDMADF
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.GBP27.8 million and adjusted EBITDA* of
not less than c.GBP7.5 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 GBP15m 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
Ben Jeynes / Max Gould / George Lawson - 8900
Corporate Finance
Alex Pollen - Sales
Alma PR (Financial PR) Tel: +44 (0)20 3405
Josh Royston 0205
Andy Bryant facilitiesbyadf@almapr.co.uk
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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END
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