Earnings release
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19 January 2026 Ashtead Technology Holdings plc(the "Group" or the "Company") Full Year Trading Update Strong margin performance delivers adjusted EBITA ahead of expectationsWell positioned for strategic progress through 2026 Ashtead Technology Holdings plc (AIM: AT.), a leading provider of subsea technology solutions to the global offshore energysector, is pleased to provide an update on its financial performance for the year ended 31 December 2025. Strong operational execution and disciplined approach to quality of revenue drive strong profitability and return oncapital despite geopolitical and business environment uncertainties Full year revenue is expected to be approximately £203 million (2024: £168 million), with second half revenues c. 5% higherthan the first half. This performance represents a year-on-year increase of c. 21%, including organic growth of 3%. Following the acquisitions in Q4 2024, the Group has successfully completed the integration of Seatronics and J2 Subsea,achieving synergies ahead of forecast and reducing lower margin activities in the acquired businesses. Together with businessmix enhancements and a continued focus on operating efficiencies across the wider Ashtead Technology business, this isexpected to result in a full year adjusted EBITA margin towards the top end of the Group's medium-term target, delivering a result for the full year slightly ahead of market profit expectations1. A stronger trading performance in the second half, alongside improved visibility provided through the mobilisation of variouslonger-term projects originally delayed through H1 2025, creates improving momentum in our business as we enter 2026. Robust balance sheet provides solid platform for further progress Strong cash conversion resulted in Group leverage reducing to under 1.4x at the year end. Net debt is expected to improve furtherto below 1.0x by the end of 2026. The business will maintain its disciplined approach to capital allocation and expects to investc. £35 million in capital expenditure during 2026 to support its customers, drive returns, and further growth. Allan Pirie, Chief Executive Officer, commented: "We are pleased with our full-year financial performance through 2025 and have made significant progress in expanding ourinternational footprint and widening and deepening the offering to our customers during the year. Our strong balance sheet,diversified geographical footprint, differentiated service capability, and track record of providing innovative solutions to ourcustomers, positions us well as we enter the new financial year. "We are focussed on executing our strategic growth plans and remain confident in the Group's ability to generate significant valuefor shareholders over the medium-term." 1Company compiled analyst consensus for FY2025 is for revenue of £205.8 million and adjusted EBITA of £57.7 million. Moredetails are available at https://www.ashtead-technology.com/investors/analyst-consensus/ -Ends- For further information, please contact: Ashtead Technology Allan Pirie, Chief Executive OfficerIngrid Stewart, Chief Financial Officer (Via DGA Group) Deutsche Bank AG (Joint Broker) Julian CaterGeorge Price Tel: +44 (0)20 7260 1000 Peel Hunt (Joint Broker) Edward AllsoppCharlotte SutcliffeTom Graham Tel: +44 (0)20 7418 8900
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DGA Group (Financial PR) Jonathon BrillJames Styles Tel: +44 (0)7566 794 033 ashteadtechnology@dgagroup.com Notes to editors: Ashtead Technology is a leading subsea technology solutions provider to the global offshore energy sector. Ashtead Technology'sspecialist equipment, advanced-technologies and support services enable its customers to understand the subsea environment andmanage offshore energy production infrastructure. Headquartered in the UK, Ashtead Technology operates globally, servicingcustomers from its facilities located in key offshore energy hubs. To learn more, please visit www.ashtead-technology.com