Update announcement

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION.

16 October 2025

Videndum plc

Update announcement

Videndum plc (the "Company" or the "Group") provides an update on trading for the three months to 30 September 2025 ("Q3" or "the period") and ongoing negotiations with its RCF lenders. 

Current trading

Following seasonally low activity in July and August, recent order intake has been strong, particularly in the US. As at 30 September 2025, the order book was up c.40% year-on-year, a significant improvement on the prior period, benefiting from September order intake 6% higher than the same period in 2024; the highest in over a year. Q3 revenue improved to 8% lower year-on-year (excluding the impact of the 2024 Paris Olympics), after a first half decline of 25%.

Combined with the benefits of previously announced £19 million cost saving programmes coming through as expected, the Group's financial performance in 2025 is strengthening with Q3 EBITDA 50% higher than that achieved in H1. Given the limited inventory in the markets, any uptick in end market demand will feed through into revenue with little delay. Allied to previously announced management actions, any improvement in revenue will drop through to operating profit at a significant rate. Accordingly, the Board's expectations for FY26 remain unchanged.

As previously announced on 3 September 2025, the Company sold its consumer orientated JOBY brand to VIJIM. Gross cash proceeds will be c.£5 million, of which 80% has been received, with the balance in escrow to follow within the next six months.

Net debt as at 30 September 2025 was £139 million, including £27 million of finance leases. 

Ongoing negotiations with the Group's RCF lenders

The Company continues to make constructive progress with its lending banks on a deleveraging plan and has met its September EBITDA covenant.

As outlined previously in its 30 April 2025 and 6 August 2025 RNS announcements, any plan to deleverage the business will require alternative new sources of liquidity including, but not limited to, any combination of proceeds from disposals and the raising of new debt or equity.

While constructive discussions regarding the deleveraging plan remain ongoing and further work is required, lenders have requested a trailing last twelve-month October EBITDA covenant of £10 million in addition to the requirement to agree the deleveraging plan in October. The Company has agreed to this stretching EBITDA target with an expectation that sufficient progress will be made on the deleveraging plan such that, should trading fall short or the deleveraging plan not be agreed, lenders will waive or defer both covenants.

A further announcement will be made as and when appropriate.

Enquiries

FTI Consulting

Richard Mountain / Ben Fletcher

Telephone: 020 3272 1340

Videndum

Stephen Harris

Group Executive Chairman

Telephone: 020 8332 4602

A snapshot of Videndum plc

Videndum is a leading global provider of premium branded hardware products and software solutions to the content creation market.

Videndum's customers include broadcasters, film studios, production and rental companies, photographers, independent content creators ("ICCs"), professional musicians and enterprises. Our product portfolio includes camera supports, video transmission systems and monitors, live streaming solutions, robotic camera systems, prompters, LED lighting, mobile power, carrying solutions, backgrounds, audio capture, and noise reduction equipment.

We employ around 1,300 people across the world in 9 different countries. Videndum plc is listed on the London Stock Exchange, ticker: VID.

More information can be found at: https://videndum.com/

LEI number: 2138007H5DQ4X8YOCF14

This announcement contains inside information for the purposes of the market abuse regulation (EU No. 596/2014) as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018, as amended. The person responsible for arranging the release of this announcement on behalf of Videndum is Jon Bolton.

This announcement may contain forward-looking statements, which relate, inter alia, to the Company's proposed strategy, plans and objectives. Forward-looking statements are sometimes identified by the use of terminology such as (but not limited to) "believes", "expects", "may", "will", "could", "shall", "risk", "intends", "estimates", "aims", "plans", "predicts", "continues", "assumes", "positions" or "anticipates" or the negatives thereof, other variations thereon or comparable terminology. By its very nature, such forward-looking information requires the Company to make assumptions that may or may not materialise. Although the Directors consider that these assumptions are reasonable, such forward-looking statements may involve known and unknown risks, uncertainties, assumptions and other important factors beyond the control of the Company that could cause the actual performance or achievements of the Group to be materially different from such forward-looking statements. Past performance is not a reliable indicator of future results and, in particular, past performance of the Group cannot be relied upon as a guide to future performance. Forward-looking statements speak only as of the date they are made. Accordingly, you should not rely on any forward-looking statements and the Company, Lazard and Investec expressly disclaim any obligation to disseminate any updates or revisions to such forward-looking statements. No statement in this announcement is intended as a profit forecast or a profit estimate and no statement in this announcement should be interpreted to mean that earnings per share for the current or future financial periods would necessarily match or exceed historical published earnings per share. As a result, you are cautioned not to place any undue reliance on such forward-looking statements. Neither the Company nor anyone else is under any obligation to update or keep current the information contained in this announcement.

This announcement is not a prospectus and not an offer of shares or any other securities for sale and investors should not subscribe for or purchase any shares or securities referred to in this announcement except on the basis of the information in any prospectus, including the risk factors set out therein, that may be published by the Company in due course in relation to a potential offer for sale of new ordinary shares in the capital of the Company and admission of those ordinary shares to trading on London Stock Exchange plc's main market for listed securities and to listing in the equity shares (commercial companies) category of the official list of the FCA.