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Speedy Hire (SDY) investor relations material
Speedy Hire H2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Secured a transformational commercial agreement with ProService, expected to deliver GBP 50–55 million in revenue and significant earnings accretion in its first full year post-integration.
Velocity strategy progressed on time and on budget, entering the Deliver phase focused on market share gains, operational efficiency, and customer experience.
Achieved resilient performance in a subdued UK construction market, with strong national customer performance and a shift toward multi-year, large-scale contracts.
Multi-year contracts secured with ProService, Amey, and Thames Water, totaling GBP 90 million annualized.
Services and customer solutions businesses, including Lloyds British, are performing well and growing.
Financial highlights
Total revenue GBP 416.1 million, flat year-over-year, demonstrating resilience in a tough market.
EBITDA GBP 85.4 million (down from GBP 97.1 million), EBITDA margin 20.5% (vs 23.3%), EBITA GBP 11.9 million (down from GBP 26.8 million).
Services revenue (excluding fuel) grew to GBP 134.1 million (+4.9%), with Lloyds British revenue up 4% after restructuring.
Fuel revenue declined 47.5% due to a shift to third-party fulfillment, but margin impact was minimal.
Net debt increased to GBP 159 million (from GBP 113 million) due to the ProService deal, leverage at 3.3x EBITDA.
Free cash flow GBP 3.0 million (up from GBP 0.8 million); strong operating cash flow conversion at 103% of EBITDA.
Outlook and guidance
FY 2027 has started positively, with total revenue up 2% and EBITDA up 13% in the first two months.
Customer-led project delays are resolving, expected to contribute meaningfully in the first half of FY 2027.
Market guidance and outlook for FY 2027 reconfirmed, with expectations of further cash generation from major contracts and revenue of GBP 475.3 million, adjusted EBITDA GBP 117.3 million.
Meaningful deleveraging expected over the next two years, supported by EBITDA growth and reduced non-underlying items.
Dividend maintained at GBP 0.01, with potential for gradual increases as earnings from ProService flow through.
- FY2026 saw strategic gains and a key ProService deal, with EBITDA expected at £90m.SDY
Trading update - ProService deal and new contracts drive growth and cash flow despite margin pressure.SDY
H1 2026 - Gross margin rose to 56.7% as digital and ESG investments support future growth.SDY
H2 2025 - Improved margins and strong cash conversion support growth and a positive outlook.SDY
H1 2025 - Hire revenue steady, services down, but new contracts set to boost H2 growth.SDY
Trading Update - Margins held steady and cash flow surged despite revenue decline, with strong contract wins and digital growth.SDY
H2 2024 - FY2025 results on track; £225m refinancing boosts flexibility for future growth.SDY
Trading Update - Lower full-year profitability expected amid economic slowdown and project delays.SDY
Trading Update
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