Ashtead revenues and profits soften but cash flow swells
Published: 07:26 17 Jun 2025 BST
Ashtead Group PLC (LSE:AHT) reported a softer revenue and profit performance in its final quarter but strong cash generation for the year and an increased dividend.
In its last set of final results as a FTSE 100 company, as it prepares to switch its main listing from London to New York and change its name to Sunbelt, the construction equipment hire group hailed a record year of rental revenue but saw total turnover decline 1% to $10.8 billion, reflecting lower sales of used equipment.
Adjusted EBITDA rose 3% to $5 billion, but adjusted profit before tax fell 5% to $2.1 billion. The fourth quarter saw revenue fall 4% and adjusted PBT decline 3%.
Free cash inflow for the year jumped to $1.8 billion from $216 million the year before, while the company invested $2.4 billion in capital and shareholder returns totalled $886 million, including dividends and buybacks.
A final dividend of 72¢ was proposed, taking the full-year payout to 108¢, up from 105¢ the year before.
Ashtead added 61 new locations during the first year of its Sunbelt 4.0 growth strategy. It also confirmed plans to move its primary listing to the US in early 2026.
CEO Brendan Horgan said the group is on track to move its primary listing to the US in the first quarter of calendar year 2026.
