London · Delayed Price · Currency is GBP · Price in GBX Speedy Hire Earnings Call Transcripts
Fiscal Year 2026
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Strategic progress continued with the ProService deal, securing over £90 million in annualized revenue opportunities and improving asset utilization. Despite subdued markets and lower margins, strong cash conversion and new contract wins support a positive outlook.
Fiscal Year 2025
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Revenue (ex-fuel) grew 1.3% year-over-year, with gross margin and cash conversion improving despite challenging market conditions. Strategic investments in fleet, digital transformation, and ESG leadership position the business for gradual recovery and future growth.
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Gross margin improved to 56% and EBITDA margin held at 22% despite revenue softness and higher staff costs. Strong cash conversion enabled increased CapEx and the Green Power Hire acquisition, which is now earnings enhancing. Full-year expectations remain on track.
Fiscal Year 2024
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Revenue and hire income declined year-over-year amid tough market conditions, but margins and free cash flow improved, supporting a maintained dividend. Significant contract wins, digital transformation, and ESG leadership position the business for growth, with a strong outlook for FY2025 and beyond.