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Videndum (VID) investor relations material
Videndum H2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Revenue declined 19% year-over-year to £228.3m, with the rate of decline moderating in H2 and Q4, excluding the impact of the 2024 Paris Olympics.
Adjusted EBITDA fell 53% to £9.0m, driven by lower volumes, partially offset by £15m in cost savings.
Statutory operating loss was £53.9m, including £24.4m in depreciation, amortisation, and impairment, and £38.5m in adjusting items.
Net debt increased by £9.3m to £142.3m at year-end, with interest, financing fees, and restructuring costs partly offset by disposals and an equity raise.
Major restructuring, site consolidations, and disposals (Amimon and JOBY) were executed to focus on core professional markets and improve liquidity.
Financial highlights
Revenue from continuing operations: £228.3m (2024: £280.7m).
Adjusted EBITDA: £9.0m (2024: £20.1m).
Statutory operating loss: £53.9m (2024: £84.5m).
Adjusted operating cash flow: £5.3m (2024: £16.6m).
Net debt: £142.3m (2024: £133.0m).
Adjusted basic loss per share: (28.6)p (2024: (17.9)p).
Statutory basic loss per share: (68.1)p (2024: (155.8)p).
Outlook and guidance
Board expects good revenue growth in FY2026, supported by new product introductions.
Medium-term target: revenue in excess of £350m and mid-teens adjusted EBITDA margin.
Outlook underpinned by operational efficiencies, cost reduction, and new product innovation.
- Revenue down 7% year-over-year, but cash flow and cost controls support a 2025 recovery.VID
H1 202420 Jan 2026 - Revenue down 8% and £147m loss, but cost savings and refinancing support future recovery.VID
H2 202428 Nov 2025 - Revenue down 25% YoY; cost savings and new products support recovery amid uncertainty.VID
H1 202523 Nov 2025 - Order intake and EBITDA improved in Q3, with deleveraging talks and FY26 outlook steady.VID
Trading Update16 Oct 2025 - FY24 revenue to reach £280m amid restructuring, with market recovery expected in H1 FY25.VID
Trading Update13 Jun 2025 - Revenue in line, debt reduced, and RCF renegotiated; recovery remains gradual and uncertain.VID
Trading Update13 Jun 2025 - FY24 results in line; restructuring and cost savings position Videndum for recovery.VID
Trading Update6 Jun 2025
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