Ashtead Technology Holdings plc
20 August 2026
20 August 2026
Ashtead Technology Holdings plc
("Ashtead Technology" or the "Group")
Trading Update
Ashtead Technology Holdings plc (LSE: AT.), a leading provider of subsea technology solutions to the global offshore energy sector, provides an update on current trading and its outlook for the full year.
In its trading update on 15 July 2026, the Board noted that delivery of the full year market expectations was contingent on easing of the conflict in the Middle East and no major changes to project scheduling. Since that date, there has been no easing in the Middle East conflict and a number of projects in the region earmarked for the second half of 2026 have now been postponed until 2027. The continued and broader economic uncertainty, and changes to vessel scheduling, has also now resulted in some project delays, particularly in Europe and the Americas.
Outlook
The Board now anticipates full year revenues to be around 5% below the current market consensus1. The deferral of rental revenues, in particular, will adversely impact the revenue mix of the Group in 2026. Combined with the operating leverage in the business, this is likely to contribute to lower margins and Adjusted EBITA around 15% below the current market consensus.1
Notwithstanding the lower anticipated profits in the short term, the balance sheet remains strong, and leverage is expected to be around 1.3x at year end2.
An increased focus on energy security coupled with continued strong customer backlog underpins the Board's confidence in Ashtead Technology's growth strategy.
-Ends-
1As at 19 August 2026 the company compiled analyst consensus expectation for FY26 is for revenue of £214.2m and Adjusted EBITA of £59.2m.
2Leverage is defined as net debt divided by LTM Adjusted Proforma EBITDA
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014 as it forms part of domestic law of the United Kingdom by virtue of the European Union (Withdrawal) Act 2018, as amended (together, 'MAR'). Upon the publication of this announcement, this inside information is now considered to be in the public domain. The person responsible for arranging the release of this announcement on behalf of Ashtead Technology is Ingrid Stewart, CFO / Director.
For further information, please contact:
|
Ashtead Technology Allan Pirie, Chief Executive Officer Ingrid Stewart, Chief Financial Officer |
(Via DGA Group) |
|
DGA Group (Financial PR) Jonathon Brill Syra Basra |
Tel: +44 (0)7836622683 ashteadtechnology@dgagroup.com |
Notes to editors:
Ashtead Technology is a leading subsea technology 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. 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
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