Year End Trading Update
Full-year 2024 revenues projected at £168m with adjusted EBITA ahead of consensus; growth expected to continue in 2025.
vs expectations: ahead
- Full-year 2024 revenues £168m
- Full-year adjusted EBITA ahead of consensus
- Analyst consensus FY 2024 revenue £167m
- Analyst consensus FY 2024 adjusted EBITA £46.6m
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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/.
| Deutsche Numis (Nomad and Broker) Julian Cater George Price Kevin Cruickshank (QE) | Tel: +44 (0)20 7260 1000 |
To learn more, please visit www.ashtead-technology.com
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