Ashtead Technology has reported a strong year of trading in 2025 as it benefited from improved project activity across the global offshore energy sector.
The listed subsea technology specialist expects full-year revenue to come in at around £203 million, up 21% year-on-year, with the second half of the year about 5% stronger than the first.
The news, released this morning, has caused its shares to jump by 13.6% in the first 40 minutes of trading today to 380.5p.
The business remained profitable despite global instability, thanks to better sales focus and improved operating efficiency.
After buying Seatronics and J2 Subsea in late 2024, the company has finished bringing the two businesses into the group, delivering cost savings earlier than expected and reducing lower-margin work.
Management said this improved mix, combined with cost discipline across the wider group, is expected to push adjusted EBITA margins towards the top end of its medium-term target range of £57.7m.
As a result, it expects to deliver full-year profits slightly ahead of market expectations.
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The Aberdeen-based company also pointed to improving momentum heading into 2026, supported by a stronger second-half trading performance and better project visibility.
It said several longer-term projects that had been delayed earlier in 2025 were mobilised in the second half.
Ashtead now plans to invest around £35m in capital expenditure during 2026 to support customers and fuel growth.
“We are pleased with our full-year financial performance through 2025 and have made significant progress in expanding our international footprint and widening and deepening the offering to our customers during the year,” said Allan Pirie, CEO of Ashtead Technology.
“Our strong balance sheet, diversified geographical footprint, differentiated service capability, and track record of providing innovative solutions to our customers, positions us well as we enter the new financial year.
“We are focussed on executing our strategic growth plans and remain confident in the group’s ability to generate significant value for shareholders over the medium-term.”
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