Ashtead Technology Holdings plc LSE:AT.
- Incorporated
- United Kingdom
- Chief executive
- Allan Pirie
- Employees
- 649
- Reports in
- GBP
- Companies House
- 13424040
Read straight from the annual reports
534p at close on 2 Oct 2026 · 6 reported years, 2020–2025
| Line | FY202012/20 | FY202112/21 | FY202212/22 | FY202312/23 | FY202412/24 | FY202512/25 | FY2026unreported |
|---|---|---|---|---|---|---|---|
| Revenue | |||||||
| Gross profit | — | ||||||
| Operating profit | later 17.7 | ||||||
| Adjusted operating profit | |||||||
| Exceptional items | — | — | — | — | |||
| Net finance cost | |||||||
| Profit before tax | later 16.3 | ||||||
| Adjusted profit before tax | — | — | — | ||||
| Tax charge | later 3.9 | ||||||
| Profit for the year | later 12.4 | ||||||
| EBITDA | |||||||
| Adjusted minus statutory PBT | — | — | — | ||||
| Basic EPS | |||||||
| Diluted EPS | |||||||
| Adjusted EPS | |||||||
| Dividend per share | — | — |
GBP millions, negatives in brackets. Per-share lines in pence, share counts in millions. later is what a following report restated the figure to; vs is a second reading that disagrees. The figure shown is the one the original filing printed, and both readings are kept. Click any figure: opens the report page it was read from, highlighted; shows how it was calculated. The share price above is drawn to the same columns: each close sits over the financial year it fell in.
6 years, at a glance
Dashed: Operating margin, in % on its own scale — read its shape, not its height against the bars.
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Oil & gas subsea IRM, construction support and decommissioning demand
Revenue from oil and gas end market £154.2m (2024: £120.7m), 76% of revenue; addressable market forecast 6% CAGR 2025-2029 per Rystad
page 3Offshore wind installation, maintenance and decommissioning
Renewables revenue £49.0m (2024: £47.3m), 24% of revenue; offshore wind capacity forecast to grow 60% to 324 farms by 2030
page 3Revenue mix shift toward higher-quality, higher-margin business post Seatronics/J2 Subsea integration
Early focus following acquisitions was to reduce lower-margin revenues, prioritising earnings quality over volume
page 36Dilution from lower-margin acquired revenue mix
Adjusted EBITA margin 29.1% vs 29.9% in 2024; 'slight reduction in 2025 margin against the prior year was the result of the revenue mix change due to the Seatronics and J2 Subsea acquisitions'
page 40Chair: recent market analysis (Rystad) shows forecast growth across our addressable markets of 6% CAGR through to 2029; whilst some uncertainty is expected in end markets in 2026 particularly given recent events in the Middle East, the Board is confident of further progress on its long-term growth strategy
page 11None disclosed as at date of signing (Directors confirm no post balance sheet events to the date of signing the Annual Report); separately noted that Tony Durrant purchased a further 30,000 shares post year end, taking his holding to 40,000 Ordinary Shares
page 83Disciplined progressive dividend policy; proposed final dividend of 1.3p per share for FY2025 (2024: 1.2p, +8%), payable 28 May 2026, no interim dividend paid (consistent with prior years). Board intends to seek shareholder approval at the 2026 AGM to introduce optionality of a share buyback
page 112Financial statements prepared on a going concern basis, based on cash flow forecasts/projections for the two-year period to 31 December 2027, including severe-but-plausible downside scenarios (5%/10% revenue reduction); RCF facility of £170m plus £40m accordion, undrawn RCF balance of £50.576m at year end, leverage covenant 3.0x, interest cover covenant 4:1, all covenants complied with. Independent auditor BDO LLP (senior statutory auditor Matt Crane) gave an unqualified/unmodified opinion; Key Audit Matters were revenue recognition and impairment of goodwill (no impairment identified); Group materiality £2,060,000 (5% of PBT)
page 84- Macro-economic environment: activity levels influenced by global economic conditions, political sentiment, availability of alternative energy sources, regulatory changes, vessel schedules, oil and gas price volatility and weather-related disruptionp.43
- Reliance on IT systems and potential breach of security or cyber-attackp.43
- Health, safety & environmental risk from offshore operations in remote/challenging conditionsp.44
- Compliance & ethics — anti-bribery, sanctions, export control breaches in complex regulatory/global operating environmentp.44
Read from C000104-AR-2025-ch.
6 annual reports read, FY2021 to FY2025
Open a year to see what its report said. Every line in it carries the page it was read from.
Sources: Companies House (5), Company website (1)
FY2026Next report expected 23 Apr 2027