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Speedy Hire (SDY) investor relations material
Speedy Hire H1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved significant strategic and operational progress, with the Velocity Strategy's enable phase concluding this year and a transformational commercial agreement with ProService, the largest in company history, now live.
Secured over £90 million in annualized revenue opportunity through new long-term contracts, including ProService, providing greater revenue visibility.
Maintained resilient H1 performance despite subdued market conditions, with an interim dividend of 0.30p per share recommended.
Gained market share and secured major long-term contracts, including a new framework with Thames Water.
Divested non-core and loss-making operations to focus on core business.
Financial highlights
Revenue increased 0.8% year-over-year to £205.2m for the six months ended 30 September 2025; hire revenue declined 1.7-1.8% while services revenue (excluding fuel) rose 10.6%.
Adjusted EBITDA declined 12.4% to £38.7m, with margin down to 18.9% from 21.7%.
Operating profit (EBITA) fell to £3.6m from £9.3m, with EBITA margin down to 1.8% from 4.6%.
Free cash flow improved to £3.7m from a £1.6m outflow; net debt increased to £118.9m, with leverage at 2.2x.
Gross margin slightly declined to 54.8% due to product mix; overheads increased by 4%.
Outlook and guidance
Board expectations for FY2026 remain unchanged, with a strong second half weighting to revenue and profits anticipated.
Recent contract wins, including ProService and Thames Water, are expected to offset subdued market conditions.
Anticipate meaningful deleveraging over the next 12-24 months, targeting leverage in the 1.0-2.0x range.
Free cash flow for the full year expected at £7-8 million.
October and November trading in line with expectations; group is well positioned for market recovery.
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