Videndum (VID) Trading update summary

Trading

• After a promising July, trading in August–October was weaker than expected but broadly in line with the same period last year; geopolitical headwinds delayed customer decisions and shifted projects into FY27.

• Product launches were delayed, mainly by component constraints; Feltre production issues are resolved, but revenue remains affected as distribution partners work to improve availability and sales conversion.

• Liquidity remains good; immediate priorities are cash generation, cost reduction and improved sales conversion.

FY26 outlook

• FY26 revenue and adjusted EBITDA are expected to be broadly similar to FY25.

Strategic initiatives

• Jan Peter Tewes is assessing user groups, market needs and growth prospects, identifying opportunities to improve efficiency and commercial execution.

• A self-help programme targets cash generation, lower inventory and operating costs, sustainable growth, and a simpler, regionally led structure.

• Programme target: ~£10m annualised cost savings by 2028 at a cost of ~£3m; initiatives support medium-term ambitions of £350m revenue and a mid-teens adjusted EBITDA margin.