Trading Update

The information contained within this announcement is deemed to constitute inside information as stipulated under the retained EU law version of the Market Abuse Regulation (EU) No. 596/2014 (the "UK MAR") which is part of UK law by virtue of the European Union (Withdrawal) Act 2018. The information is disclosed in accordance with Cavendish's obligations under Article 17 of the UK MAR. Upon the publication of this announcement, this inside information is now considered to be in the public domain. 

27 November 2025

Facilities by ADF plc

("Facilities by ADF", "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 ("HETV") industry, provides an update on trading in respect of the financial year ending 31 December 2025 ("FY25").

The Group expects to report FY25 results broadly in line with market expectations*.

During the second half of the year the Group has worked on a number of key productions and expanded its activities outside of the HETV and Film Industry. All three business units were involved with the latest seasons of the Witcher for Netflix, Disney's Rivals and Apple's Slow Horses. Beyond HETV and Film, Location One has experienced significant growth in their Commercials division, recently supporting a prestige shoot for Prada, and Autotrak is supplying ground protection for a number of major Christmas events.

As a consequence of the increase in activity levels, revenue and gross margin increased in the second half. Actions have also been put in place to reduce the cost base, including equipment decommissioning and disposals, property mergers and, in limited instances, reductions in headcount. The Group expects to report exceptional and one-off costs of approximately £1.7m for the year, principally in relation to management changes, equipment disposals and the unwinding of contingent consideration.

Unaudited Group cash balances at 31 October 2025 were approximately £1.7m, with net debt of approximately £13.8m as at that same date (30 June 2025: £13.2m). Debt balances principally relate to hire purchase contracts against the hire fleet and all of the Group's debt is covenant free. 

The Company's recruitment process to appoint a permanent CEO and CFO are each at an advanced stage, and further announcements will be made in this regard when appropriate.

Outlook

The Board currently anticipates that the market in FY26 will operate at similar levels of activity to FY25. The actions implemented to-date to improve efficiency, and continued progress in the integration of all Group companies to, inter alia, place Group companies on common systems, should result in further cost savings in FY26. As a consequence, the Board expects that FY26 results will be slightly ahead of FY25.

*Market expectations of revenues of £42.6 million and adjusted EBITDA of £10.0 million for the year ending 31 December 2025 at the date of this announcement.

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