Facilities by ADF
ADF · AIM · Industrial Goods and Services · mcap £11m · 10.0p 3 open situations →
- EV
- £28.2m
- EV / EBIT
- –
- Net debt
- £14.5m
- FCF yield
- 5.6%
- Revenue
- £40.5m
- Cash returned
- 4.6%
- Share price 1y
- −41%
- Insiders 12m
- bought £26k
- Next report
- around 20 Apr
Open · 3
Cost reduction and integration
Follows from Permanent CEO and CFO appointments – Plan set; FY26 guided below expectations
Cost cuts and integration began in late 2025. FY25 margin rose to 22%, but EBITDA missed expectations. In H1 FY26 adjusted EBITDA margin fell to 10.2% on weak ADF revenue and fixed costs. Further H2 efficiencies are started, a new group sales structure launched and under-used fleet sold; savings are medium-term.
- Priorities
- Integrate sales approach and back office, upgrade systems, improve operational efficiency
- Margin
- Adjusted EBITDA margin 22% (FY24: 20%)
- Exceptional costs
- £2.0m in FY25, mainly Board changes and a fixed asset impairment, offset by an earn-out reduction
- Net debt
- £14.5m at 30 June 2026 (31 Dec 2025: £12.3m)
- H1 margin
- Adjusted EBITDA £1.7m, 10.2% margin (HY25: £2.2m, 12.6%)
- Actions
- Footprint optimisation, group integration, leaner support functions, higher fleet utilisation, sale of under-used fleet
Next: delivery of further H2 FY26 efficiencies and cost savings
- 16 Sep 2026 Further H2 cost actions begun; margin falling
- 21 Apr 2026 Progress reported; FY25 margin up to 22%
- 27 Nov 2025 Actions under way, savings expected FY26
Permanent CEO and CFO appointments
Led to Cost reduction and integration – Further H2 cost actions begun; margin falling
CEO Nicola Pearcey joined in January 2026 and CFO Will Worsdell in March 2026. The team now says it has set a medium-term strategic plan, with priorities of new growth markets, integration, efficiency and selective capital allocation. The Chair says management changes and the market will constrain FY26, which is now guided below market expectations.
- CFO
- Will Worsdell from March 2026, from Everyman Cinemas
- Chair
- Russell Down back to Non-Executive from 1 February 2026
- COO
- James Long appointed Group COO and joined Board in September 2025
- Strategic priorities
- Customer-centric growth, complementary diversification, broader client base
- Plan
- Clear medium-term strategic plan established; details not given in this announcement
- Priorities
- New growth markets, simplify and integrate three businesses, improve efficiency and utilisation, selective capital allocation
Next: detail of medium-term strategic plan and new end markets
- 16 Sep 2026 Plan set; FY26 guided below expectations
- 21 Apr 2026 CEO and CFO in post; strategy being developed
- 15 Dec 2025 CFO named; search concluded
- 28 Nov 2025 CEO appointed; CFO search continues
Profit warning
Facilities by ADF issued a profit warning on 16 Sep 2026; the shares moved −16% on the day.
- 16 Sep 2026 profit warning · -16% on the day
Closed · 2
Company filings. Not investment advice.