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AT Ashtead Technology Holdings plc

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Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Ashtead Technology Holdings plc LSE:AT London Ordinary Share Ordinary Shares
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% - 0.00 -
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Ashtead Technology Share Discussion Threads

Showing 76 to 98 of 425 messages
Chat Pages: Latest  5  4  3  2  1
DateSubjectAuthorDiscuss
03/5/2023
11:06
The full accounts inc P&L are on the report. Reported net (12,7m) and adjusted (13.5m)
bertiebingo
03/5/2023
08:24
Good-Buy


Good to great to see a maiden dividend.

tenapen
03/5/2023
08:13
Switched to GATC for safe side
blackhorse23
03/5/2023
07:52
Smoke and mirrors confuse the punters with too much irrelevant details
slogsweep
03/5/2023
07:33
Outlook "materially ahead" and 1p dividend. All to the good.
But why is the reporting so late?

stevenlondon3
03/5/2023
07:21
Excellent results but why oh why don't they quote the bottom line figure - net net profit1 Instead EBITDA with qualifiers!!
grahamhacker
03/5/2023
07:04
Nice
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.



Highlights



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.



Outlook

· 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."

bigbigdave
02/5/2023
17:19
An all new website in time for tomorrows results.
tenapen
25/4/2023
07:10
Results 3rd May then.
bigbigdave
13/4/2023
08:40
Nice and firm in recent weeks, hopefully a sign of decent results.
bigbigdave
12/4/2023
11:37
>>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.

zho
02/4/2023
09:51
Looks like Thursday if they follow last year.

(Do think they really need to get their full year accounts out sooner than early June this year)

podgyted
01/4/2023
08:25
Trading update due in April going on last year.
bigbigdave
06/3/2023
10:42
From Citywire on Friday:

Berenberg: More scale to come from Ashtead Technology

Berenberg believes Ashtead Technology (AT) is well liked by investors but there is further scope to scale up the subsea equipment rental group.

Analyst Robert Chantry retained his ‘buy’ recommendation and target price of 405p. The stock gained 1.7% to 303p.

He initiated coverage at the beginning of February and has since spoken with more than 80 investors about the stock.

‘A majority believe that the combination of a supportive energy market backdrop and exposure to the offshore renewables market should underpin strong organic growth, with high margins, the potential for additional [mergers and acquisitions], and a strong management team ticking a lot of boxes,’ he said.

However, he said there were ‘pushbacks and questions’, mostly around energy markets, the degree of demand cyclicality, and the propensity to rent rather than own equipment in the space.

‘Overall, this feedback suggests the company is well liked by investors, but there is further to go in terms of the scale of the business and in the articulation of the investment narrative,’ he said.

zho
06/3/2023
09:45
Strength on small volume ahead of further placing?
mammyoko
04/3/2023
07:50
Back above recent placing price, nice :o)
bigbigdave
03/3/2023
18:59
He rising from the depths the boy
Like an ancient Greek diver for pearls
Ha ha

volsung
01/3/2023
08:35
This boy he diving subsea
No matter my seamates
I have plans to buy more

volsung
13/2/2023
11:36
Steady buying this morning, perhaps because of positive comment from SCSW this weekend, their first piece on AT. since a 'buy' recommendation in December 2021.
zho
13/2/2023
10:23
Website Updated;
tenapen
09/2/2023
14:58
(Alliance News) - BERENBERG STARTS ASHTEAD TECHNOLOGY WITH 'BUY' - PRICE TARGET 405
PENCE

x54v
31/1/2023
14:22
I haven't compared Maritime Robotics with iXblue .... Yet. Could MR be filling the hole left by iXblue ..... If that is what has happened!. I have yet to read anything about Ashtead relationship with iXblue since iXblue merged with ECA Group to become the competition.

Question, will Ashtead get paid back the significant sums of money they have invested in iXblue ?.


tenapen6 Dec '22 - 17:05 - 48 of 66 Edit
0 0 0


It looks like a perfect fit and another local company.

I would like to know what the relationship is now with iXblue since they merged and became the competition!.


ECA Group
& iXblue
Exail was formed as ECA Group and iXblue joined forces in 2022. We are now a leading high-tech industrial champion specializing in cutting-edge robotics, maritime, navigation, aerospace and photonics technologies. Together, we employ a workforce of 1500 people worldwide and achieve an annual turnover of €250 million. With our unique offer ranging from components to complex systems, we support our customers for their critical missions in severe environments.

tenapen
31/1/2023
10:40
International subsea rental equipment and solutions specialist Ashtead Technology has signed a multi-year rental agreement with Maritime Robotics, a leading provider of unmanned technology solutions.

Under the terms of the agreement, Ashtead Technology will be a rental partner for Maritime Robotic’s Otter Unmanned Surface Vehicles (USVs) for high-quality maritime data acquisition.

bigbigdave
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