Business
AGM Trading Statement
Ashtead Technology Holdings plc has reported that trading in the first quarter was in line with expectations, though regional disruption from the Middle East conflict has been noted since early March. Despite the unpredictable impact of geopolitical tensions, the company remains cautiously optimistic for the full year, maintaining its performance expectations contingent on a seasonally stronger second half and no sustained impact from current events. The Group anticipates its net debt will improve to below 1.0x by the end of 2026, supported by its cash generative business model and strong balance sheet. A Half Year Trading Update is scheduled for July. Disclaimer*
About this update from Ashtead Technology Holdings Plc
21 May 2026 Ashtead Technology Holdings plc ("Ashtead Technology" or the "Group") AGM Trading Statement Ashtead Technology Holdings plc (LSE: AT.), a leading provider of subsea technology solutions to the global offshore energy sector, issues the following trading update ahead of its Annual General Meeting to be held at 10.00am today. Current Trading and Outlook Trading through the first quarter of the year was in line with the Board's expectations. The business has experienced some regional disruption since early March as a result of the ongoing conflict in the Middle East and continues to work closely with its customers to monitor and manage this situation. Whilst the duration and impact of the conflict in the Middle East, and the potential secondary effect on our broader operations and markets, remains hard to predict, the Board is cautiously optimistic in the outturn for the year, and its performance expectations are unchanged. This assumes a seasonally stronger second half, in keeping with prior years, and no sustained impact from the current geopolitical tensions. With growing demand for energy and an increased acknowledgement of the importance of energy security around the world, Ashtead Technology's scaled, geographically diversified footprint and agile operating model positions it well to capitalise on the attractive long-term structural growth drivers across its end markets. Balance Sheet The Group's highly cash generative business model underpins its strong balance sheet, with net debt still expected to improve to below 1.0x by the end of 2026. Half Year Trading Update The Group will issue a Half Year Trading Update covering the six months ending 30 June 2026, in July. -Ends- For further information, please contact: Ashtead Technology Allan Pirie, Chief Executive Officer Ingrid Stewart, Chief Financial Officer (Via DGA Group) DGA Group (Financial PR) Jonathon Brill James Styles Tel: +44 (0)7510 385 554 [email protected] Notes to editors: Ashtead Technology is a leading subsea technology solutions provider to the global offshore energy sector. Ashtead Technology's specialist equipment, engineered solutions, technical expertise and support services enable its customers to understand the subsea environment and manage offshore energy production infrastructure. Ashtead Technology operates globally, servicing customers from its facilities located in key offshore energy hubs. To learn more, please visit www.ashtead-technology.com
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