Facilities by ADF plc Trading Update (3614B)

TIDMADF

RNS Number : 3614B

Facilities by ADF plc

11 February 2022

11 February 2022

Facilities by ADF plc

("Facilities by ADF", the "Company" or the "Group")

Trading Update

Facilities by ADF, the leading provider of premium serviced production facilities to the UK film and high-end television industry, today announces a trading update for the year ended 31 December 2021 ("FY21").

The Board is pleased to confirm that following a strong close to 2021, and subject to audit, it currently expects the Group to report FY21 revenues of c.GBP27.8 million and adjusted EBITDA* of not less than c.GBP7.5 million, ahead of current market expectations.

Market dynamics continue to be strong with continued robust demand for film and high-end television the UK. This is further supported by unprecedented levels of investment in UK studio space and content, which bodes well for the Company's growth ambitions.

The Company raised GBP15m of gross proceeds on admission to trading on AIM and has already started to invest by expanding orders for additional vehicles and trailers to meet demand. Further, management is actively reviewing initial acquisition opportunities in line with the Group's strategy detailed at Admission.

The Group continues to have strong order visibility for this financial year as well as a growing order book for 2023.

*Earnings before interest, taxes, depreciation and amortisation ('EBITDA') adjusted for IPO costs and share-based payments.

Marsden Proctor, CEO, said:

"I'm very pleased with the start we have made as a public company. We have an excellent customer base and a market backdrop which is seeing vast amounts of investment in the UK film and HETV industry. As we deploy the funds raised at IPO, we will continue to execute our ambitious, yet highly achievable growth strategy."

For further enquiries:

 
 Facilities by ADF plc                        via Alma PR 
  Marsden Proctor, Chief Executive Officer 
  Neil Evans, Chief Financial Officer 
  John Richards, Chairman 
 Cenkos (Nominated Adviser and Broker)        Tel: [phone] 
  Ben Jeynes / Max Gould / George Lawson -     8900 
  Corporate Finance 
  Alex Pollen - Sales 
 Alma PR (Financial PR)                       Tel: [phone] 
  Josh Royston                                 0205 
  Andy Bryant                                  [e-mail] 
  John Coles 
  Molly Gretton 
 

This announcement contains inside information for the purposes of the UK Market Abuse Regulation and the Directors of the Company take responsibility for this announcement.

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February 11, 2022 01:59 ET (06:59 GMT)