Ashtead Technology Holdings Plc

3.00 (0.79%)
Share Name Share Symbol Market Type Share ISIN Share Description
Ashtead Technology Holdings Plc LSE:AT. London Ordinary Share GB00BLH42507 ORD 5P
  Price Change % Change Share Price Shares Traded Last Trade
  3.00 0.79% 383.00 61,902 16:35:10
Bid Price Offer Price High Price Low Price Open Price
372.00 379.00 383.00 368.00 383.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil And Gas Field Expl Svcs 55.81 2.53 3.20 126.67 306.20
Last Trade Time Trade Type Trade Size Trade Price Currency
16:56:38 O 2,741 379.773 GBX

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Date Time Title Posts
17/5/202311:57Ashtead Technology: Subsea Solutions106

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Posted at 17/5/2023 11:57 by tenapen
For shareholders information incase it was missed.
Ex divi day 25th - next week

The Board of Ashtead Technology Holdings Plc proposed a final dividend of 1.0p per share, which if approved at the Annual General Meeting to be held on 8 June 2023, will be paid on 23 June 2023 with a record date of 26 May 2023. The shares will become ex-dividend on 25 May 2023. No interim dividend was paid in 2022.3 May 2023

Posted at 13/5/2023 10:05 by zho
The recording of yesterday's presentation is now online at
Posted at 11/5/2023 12:07 by zho
Well spotted:

"Given the significant growth potential on offer, the shares still look a buy, trading on 13.2 times and 12.1 times 2023 and 2024 earnings respectively
based on Numis’ updated forecasts." (Price in article is 370p)

Posted at 11/5/2023 07:07 by bigbigdave
Placing at 360p, not too bad. Recovered well after the last one in January.
Reckon we might get a tip this weekend too.

Posted at 10/5/2023 08:24 by bigbigdave
RBC raises AT. 445 (400) Outperform.
Posted at 06/5/2023 17:20 by zho
Paul Scott praises “excellent results …. very, very good numbers” but reckons “it's strange that AT. is making so much profit from a tiny asset base”. from 31:30

Posted at 03/5/2023 07:04 by bigbigdave
Ashtead Technology Holdings plc (AIM: AT.), a leading subsea equipment rental and solutions provider for the global offshore energy sector, announces its full-year results for the period ended 31 December 2022.


Financial Results

· Group revenue up 31% to £73.1m (2021: £55.8m), primarily driven by organic growth (23.7%) favourable FX rates (c.5.5%) and M&A (1.7%).

· Revenues from offshore renewables and offshore oil and gas markets up 22% and 35%, respectively.

· Gross profit up 34% to £54.3m (2021: £40.5m), with gross margin of 74% (2021: 73%), benefitting from increased pricing and utilisation.

· Adjusted EBITA1 increased 47% to £20.1m (2021: £13.7m), with an Adjusted EBITA1 margin of 28% (2021: 25%).

· Adjusted earnings per share of 19.6p (2021: 13.2p) and basic earnings per share of 15.9p (2021: 3.6p).

· ROIC of 21% for the period (2021: 17%).

· RCF refinanced and increased in April 2023 to £100m (plus accordion of £50m) to support growth opportunities.

· Final dividend of 1p per share recommended.

Operational Highlights

· Meaningfully expanded operational capabilities and technical expertise through bolt-on acquisitions in H2:

o Hiretech, completed December 2022, adding a multi-purpose fleet of marine and subsea equipment rental assets and skilled personnel

o WeSubsea, completed September 2022, providing high performance, in-house designed dredge systems to complement existing product and service offering

· Continued to invest in high-quality equipment rental fleet, increasing number of items from 17,000 to over 19,000 through organic investment (£13.1 million capex in our equipment rental fleet), as well as WeSubsea and Hiretech acquisitions.

· Employee headcount 260 at year end, up from 204, with business continuing to scale up to support future growth.

· New senior leadership appointments to grow international footprint and bolster technical capabilities across our services.

· Strong progress towards sustainability goals - increased revenues from offshore renewables, secured ISO14001 environmental management certification.


· Market outlook remains strong, with customer backlogs at record levels. Demand remained high in Q1 2023 across both offshore oil and gas and offshore renewables markets with pricing and utilisation continuing to track upwards.

· Inflationary pressures remain, but increased pricing is expected to continue to offset impact on the business.

· The Board remains confident in the business' near and medium-term prospects and is focused on leveraging its market position and offering to drive further progress.

· Given the performance to date, the Board expects the outturn for the full year to be materially ahead of its previous expectations.

Allan Pirie, Chief Executive Officer, commented:

"This has been a very successful and busy year for Ashtead Technology. We believe we are well-positioned to exploit the many growth opportunities that lie before us in 2023 and beyond, driven by higher activity levels across both oil and gas and offshore renewables markets. With a full year's benefit of our two recent acquisitions, coupled with enhanced financial firepower, we will look to further expand our offering whilst continuing to grow within our existing markets."

Posted at 12/4/2023 11:37 by zho
>>Do think they really need to get their full year accounts out sooner than early June this year>>

AT. IR have told me that they hope to announce FY 2022 results during the week after next.

Posted at 20/1/2023 09:53 by x54v
"Once the dust settles from this week’s placing, I expect Ashtead’s share price to recover strongly, so much so that I am raising my target price from 325p to 375p, still below Numis’ upgraded target of 400p (from 380p). Buy."


Posted at 19/1/2023 16:41 by whittler100
I agree with Carcosa’s comments above.

A few quick scribbles on AT. placings

On the last two secondary placings. July 22 (10m shares placed @ 200p) & Nov 22 (4.8m placed @260p), on both occasions they were placed at around a 14% discount to the previous day’s closing price. Maybe it’s a sign of appetite for AT. that this placing was successful at only a 6% discount to yesterday’s (18/01/22) close price. The 18/01 RNS said “BP Bidco has indicated an intention to sell at least 11m shares”; it rather seems that the appetite for the share was strong as they actually placed 15m shares rather than the 11m; that’s the largest placing by some distance & interestingly at the lowest discount, 6%. Following this sale, BP Bidco will only hold 7m shares = 9% of co; so, the original pair that owned the AT. prior to flotation will be totally out shortly assuming we see another BP Bidco placing in the next few months post-lock-in period. IMO this is possibly a good thing making the stock easier to trade. Note the CEO placed 425k shares (previous to placing held 2.17m) & the CFO 35k shares (previous to placing held 301k)

Note: the CEO has some easy LTIP awards coming his way over the next couple of years 406k (almost matching his placing and the CFO 257k coming her way (IMO already money in the bank as the targets for the awards are in my view easy). So, both the CEO & CFO retain plenty of skin in the game with some LTIP to be awarded shortly.

So, was today a buying opportunity? In truth, who knows but IMO AT. has a touch of right time /right place about the business.

BP Bidco will almost certainly place again in the next few months once past the lock-in; so if AT. is still trading well, possibly another little buying opportunity.

Remember as Carcosa said above, there is no dilution and the number of shares in AT. is currently unchanged plus we should see improved liquidity.

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