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/.
For further
information, please contact:
|
Ashtead
Technology
Allan Pirie, Chief Executive Officer
Ingrid Stewart, Chief Financial
Officer
Colin Ross, Chief Strategy & Marketing
Officer
|
(Via Vigo Consulting)
|
|
Vigo Consulting
(Financial PR)
Patrick d'Ancona
Finlay Thomson
Verity Snow
|
Tel: +44 (0)20 7390 0230
ashteadtechnology@vigoconsulting.com
|
|
Deutsche Numis
(Nomad and Broker)
Julian Cater
George Price
Kevin Cruickshank (QE)
|
Tel: +44 (0)20 7260 1000
|
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
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.
