Ashtead Technology Holdings
AT. · Main Market · Energy · mcap £428m · 532.0p
Ashtead Technology rents and sells specialist equipment and services used underwater, mainly for offshore wind and oil and gas projects. It has grown through acquisitions such as ACE Winches and Seatronics.
| Date | Type | Announcement | Day |
|---|---|---|---|
| 23 Sep 26 | Disclosure Table
Ashtead Technology Holdings plc entered Takeover Panel disclosure table; offer period commenced 23 September 2026. |
+60.3% | |
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Share class 5p ordinaryISIN GB00BLH42507Number of shares in issue 80,976,397Offer period commenced 16:07 23-Sep-2026Rule 2.6 deadline 17:00 21-Oct-2026
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| 23 Sep 26 | Offer | Statement re Possible Offer
Ashtead Technology received unsolicited indicative proposal from Ember Infrastructure to acquire company at 615p per share. |
+60.3% |
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Proposed offer price 615p per share
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| 01 Sep 26 | Results | Half-year Results
Revenue up 1.1% to £100.2m in H1 2026, but Adjusted EBITA margin compressed to 25.0% from 27.3% due to mix and capex investment. |
−3.6% |
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Revenue £100.2m (£99.1m)Adjusted EBITA £25.1m (£27.0m)Adjusted EBITA margin 25.0% (27.3%)Basic EPS 16.6p (17.2p)Net debt £116.7m (£131.9m)Leverage 1.4x (1.7x)
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| 24 Aug 26 | Notice of Half Year Results
Half year results announcement scheduled for 1 September 2026 with analyst and retail investor presentations. |
+2.6% | |
| 20 Aug 26 | Trading update | Trading Update
Full year revenues expected around 5% below consensus, Adjusted EBITA around 15% below, due to Middle East conflict and project delays. |
−16.5% |
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below expectations Expected revenue vs consensus ~5% below (£214.2m consensus)Expected Adjusted EBITA vs consensus ~15% below (£59.2m consensus)Expected leverage at year end ~1.3x
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| 15 Jul 26 | Trading update | Half Year Trading Statement
H1 2026 revenue grew 1% to £100.2m; EBITDA margin 37.8% and EBITA margin 25.0%, slightly lower due to Middle East delays and lower rental activity. |
+4.3% |
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in line expectations Revenue £100.2m (c.1% growth)Adjusted EBITDA margin c.37.8% (38.7%)EBITA margin c.25.0% (27.3%)Net capex spend H1 £24mExpected leverage at 30 June 2026 1.4xExpected year end leverage <1.0x
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| 02 Jun 26 | Conditional LTIP Awards
Conditional LTIP awards granted to 592,569 shares representing 0.73% of share capital to various employees. |
+3.2% | |
| 21 May 26 | Trading update | AGM Trading Statement
Q1 trading in line with expectations despite Middle East disruption; full year outlook unchanged. |
−4.5% |
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in line expectations Net debt target below 1.0x
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| 17 Mar 26 | Issue of shares to EBT and Total Voting Rights
352,201 ordinary shares issued to Employee Benefit Trust to satisfy LTIP award exercises. |
+7.1% | |
| 17 Mar 26 | Results | Final Results
Revenue grew 21% to £203.2m driven by acquisitions and 3% organic growth; adjusted EBITA margin 29.1%. |
+7.1% |
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Revenue £203.2m (£168.0m)Adjusted EBITA £59.1m (£50.3m)Adjusted EBITA margin 29.1% (29.9%)Adjusted EPS 49.4p (45.0p)Proforma leverage 1.3x (1.6x)Proposed final dividend 1.3p (1.2p)
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| 19 Jan 26 | Trading update | Full Year Trading Update
Full year revenue £203m, up 21%, with adjusted EBITA margin at top end of medium-term target, ahead of expectations. |
+14.2% |
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ahead expectations Full year revenue £203m (£168m)Year-on-year growth c. 21%Organic growth 3%Group leverage under 1.4xExpected net debt by end 2026 below 1.0xPlanned capital expenditure 2026 c. £35m
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| 06 Oct 25 | Readmission - Ashtead Technology Holdings plc
Ashtead Technology Holdings plc ordinary shares cancelled from AIM trading. |
−7.7% | |
| 06 Oct 25 | Admission to Main Market
Ashtead Technology admitted to Main Market of London Stock Exchange, cancelled from AIM. |
−7.7% | |
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Issued ordinary share capital 80,624,196 Ordinary Shares
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| 01 Oct 25 | Ashtead Technology Holdings
Ashtead Technology to be deleted from FTSE AIM indices following expected transfer of listing to Main Board. |
+2.0% | |
| 25 Sep 25 | Conditional LTIP Awards
Company granted conditional LTIP awards of 332,885 shares to employees under the 2023 Long Term Incentive Plan. |
−1.0% | |
| 26 Aug 25 | Update on Move to the Main Market
Ashtead Technology to move from AIM to London Stock Exchange Main Market on 6 October 2025. |
+6.5% | |
| 26 Aug 25 | Update on Move to the Main Market
Ashtead Technology to move from AIM to London Stock Exchange Main Market on 6 October 2025. |
+6.5% | |
| 26 Aug 25 | Results | Half-year Results
Half-year revenue up 23% to £99.1m with adjusted EBITA margin of 27.3%; Main Market listing planned for 6 October. |
+6.5% |
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below initial expectations expectations Revenue £99.1m (£80.5m)Adjusted EBITA £27.0m (£22.6m)Adjusted EBITA margin 27.3% (28.1%)Adjusted basic EPS 21.9p (19.1p)Net cash from operations £21.1m (£9.7m)ROIC 24.2% (29.6%)
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| 17 Jul 25 | Trading update | Half Year Trading Update
H1 revenues £99m, up 23% reported but down 6% pro-forma; Adjusted EBITA margin c.27.3%; FY guidance modestly below prior expectations. |
−22.9% |
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modestly below (EBITA) expectations H1 2025 revenues £99m (£80.5m (H1 2024))H1 2025 revenue growth (reported) 23%H1 2025 revenue growth (pro-forma) -6%Adjusted EBITA margin H1 2025 c.27.3% (26.1% H1 2024 pro-forma)Pro forma net debt leverage (30 June 2025) c.1.6xH2 2025 revenue growth outlook high single digit %
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| 30 Jun 25 | Change of Nominated Adviser
Nominated Adviser and Broker changed from Numis Securities Limited to Deutsche Bank AG, London Branch. |
−0.2% | |
| 22 May 25 | AGM Update
Trading in line with FY2025 expectations; Board targeting Main Market admission during 2025. |
+1.4% | |
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Trading performance In line with FY2025 expectationsCustomer backlogs Record levels
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| 25 Mar 25 | Issue of shares to EBT and Total Voting Rights
310,358 shares issued to Employee Benefit Trust to satisfy future LTIP award exercises. |
+5.4% | |
| 25 Mar 25 | Results | Final Results
Revenue grew 52% to £168.0m; Adjusted EBITA increased 39% to £50.3m; proposed dividend 1.2p. |
+5.4% |
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Adjusted EBITA delivered ahead of market forecasts expectations Revenue £168.0m (£110.5m)Adjusted EBITA £50.3m (£36.2m)Profit before tax £36.1m (£27.5m)Adjusted basic earnings per share 45.0p (33.4p)Pro-forma net debt to Adjusted EBITDA 1.6x (1.0x)Proposed full year dividend 1.2p (1.1p)
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| 30 Jan 25 | Appointment of Joint Corporate Broker
Ashtead Technology appoints Peel Hunt as joint corporate broker alongside Deutsche Numis. |
+0.0% | |
| 23 Jan 25 | Trading update | Year End Trading Update
Full-year 2024 revenues projected at £168m with adjusted EBITA ahead of consensus; growth expected to continue in 2025. |
+13.7% |
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ahead expectations Full-year 2024 revenues £168mFull-year adjusted EBITA ahead of consensusAnalyst consensus FY 2024 revenue £167mAnalyst consensus FY 2024 adjusted EBITA £46.6m
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| 20 Jan 25 | Board change | Appointment of Non-Executive Director
Kristin Færøvik appointed Non-Executive Director, bringing 30 years' energy sector experience. |
−1.3% |
| 26 Nov 24 | Completion of Acquisition
Ashtead Technology completes acquisition of Seatronics and J2 Subsea from Acteon Group. |
+0.8% | |
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Survey and robotics fleet expansion ~30%Pro-forma leverage at 30 June 2024 ~1.8xExpected leverage by end of 2025 below 1.5xEarnings enhancement in first full year mid-to-high single digit
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| 24 Oct 24 | Acquisition of Seatronics and J2
Ashtead Technology to acquire Seatronics and J2 subsea electronics and ROV rental businesses for £63m cash. |
+8.5% | |
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Acquisition consideration £63mRCF increase £70mTrailing 12-month revenue (Seatronics and J2) £51.5mAdjusted EBITDA (Seatronics and J2) £12.1mAdjusted EBITA (Seatronics and J2) £9.0mPro-forma leverage at 30 June 2024 ~1.8x
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| 02 Sep 24 | Results | Unaudited Half Year Results 2024
Revenue rose 61% to £80.5m in H1 2024 driven by organic growth and ACE Winches acquisition, with adjusted EBITA up 46%. |
−12.8% |
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in line expectations Revenue £80.5m (£49.8m)Adjusted EBITA £22.6m (£15.5m)Adjusted EBITDA £31.4m (£21.1m)Adjusted basic EPS 19.1p (14.0p)Net debt £72.0m (£26.4m)ROIC 25.3% (25.4%)
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| 24 Apr 24 | Conditional LTIP Award
Remuneration Committee conditionally granted LTIP awards to CEO and CFO under 2023 plan. |
+1.1% | |
| 18 Apr 24 | Reminder of Investor Presentation
Ashtead Technology to hold investor presentation on full year results via Investor Meet Company platform. |
−0.1% | |
| 16 Apr 24 | Issue of shares to EBT
Company issued 365,919 shares to employee benefit trust to satisfy future LTIP awards. |
−9.4% | |
| 16 Apr 24 | Results | Final Results
Revenue grew 51% to £110.5m with Adjusted EBITA up 82% to £36.2m, driven by organic growth and acquisitions. |
−9.4% |
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Revenue £110.5m (£73.1m)Adjusted EBITA £36.2m (£19.9m)Gross profit margin 78.1% (74.2%)Basic earnings per share 27.0p (15.5p)Return on Invested Capital 27.6% (21.2%)Net debt to Adjusted EBITDA leverage 1.3x (1.0x)
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| 20 Mar 24 | Board change | Appointment of Non-Executive Director
Jean Cahuzac appointed Non-Executive Director effective immediately, bringing 40 years subsea services experience. |
+1.7% |
| 19 Dec 23 | Board change | Directorate Change
Non-Executive Director Joe Connolly stepped down from the Board following Buckthorn Partners' full exit from investment. |
−1.3% |
| 30 Nov 23 | Acquisition of ACE Winches
Ashtead Technology acquires ACE Winches for £53.5m cash, expected to be materially earnings enhancing from FY2024. |
+22.9% | |
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Acquisition price £53.5mACE Winches gross assets (31 March 2023) £55.7mACE Winches expected revenue (12 months to December 2023) c. £43.4mACE Winches adjusted EBITDA (12 months to December 2023) £13.7mPro forma leverage (31 December 2023) less than 1.4x
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Company filings. Not investment advice.