**Summary**
Facilities by ADF plc, a leading provider of premium serviced production facilities to the UK film and high-end television (HETV) industry, released a trading update for the financial year ending 31 December 2025 (FY25). Key highlights include
1. **Performance in Line with Expectations**: FY25 results are expected to align with market forecasts, with revenues of £42.6 million and adjusted EBITDA of £10.0 million.
2. **Operational Growth**The Group expanded its activities beyond HETV and film, with notable projects like Netflix’s *The Witcher*, Disney’s *Rivals*, and Apple’s *Slow Horses*. Location One’s Commercials division saw significant growth, including a prestigious Prada shoot, and Autotrak supported major Christmas events.
3. **Financial Metrics**Revenue and gross margin increased in the second half of FY25. Exceptional costs of approximately £1.7 million were incurred, primarily due to management changes, equipment disposals, and contingent consideration adjustments.
4. **Cash and Debt Position**As of 31 October 2025, unaudited cash balances were £1.7 million, with net debt at £13.8 million (up from £13.2 million in June 2025), primarily related to hire purchase contracts.
5. **Cost Efficiency Measures**Actions to reduce costs, including equipment decommissioning, property mergers, and limited headcount reductions, have been implemented.
6. **Leadership Updates**The recruitment process for a permanent CEO and CFO is advanced, with announcements expected soon.
7. **Outlook for FY26**The Board anticipates similar market activity levels in FY26, with efficiency improvements and integration efforts expected to drive cost savings and slightly improved results compared to FY25.
The announcement complies with UK Market Abuse Regulation (UK MAR) and is now in the public domain.