Videndum

News Summary:

Videndum plc reported a revenue of £115 million for the first half of 2025, achieving £6 million in cost savings for the period and an annualised 2025 exit rate of £19 million. The company made progress in restructuring and cost management, including the successful launch of the Manfrotto ONE hybrid tripod, despite weaker-than-expected revenue attributed to US tariffs and global macro-economic uncertainty. It also stocked long lead time components to meet increased demand and anticipates any revenue improvement will significantly boost operating profit. This follows Videndum's full-year 2025 report, which showed a 19% decline in revenue to £228.3 million and adjusted EBITDA of £9.0 million. During 2025, the company implemented restructuring measures, including the sale of the Amimon and JOBY brands, and increased its net debt by £9.3 million to £142.3 million. Videndum completed refinancing its debt with a new £60.0 million Group facility and maintains a committed £146.1 million RCF, with the Board expecting good revenue growth in fiscal year 2026. Earlier, on July 2, 2026, the company reported 2024 full-year results with revenue of £283.6 million, an 8% decline from 2023, an adjusted operating loss of £18.2 million, and net debt of £133.0 million. Videndum successfully negotiated amended covenants through August 2026 and expressed confidence in refinancing prior to September 2025. Separately, on June 26, 2026, Videndum disclosed that two director reappointment resolutions, for Anna Vikstrom Persson and Eva Lindqvist, each received over 27% votes against at its May 19 annual general meeting. Previously, on April 28, 2026, Videndum granted 2026 Restricted Share Plan awards to Chairman Stephen Harris, equal to 100% of his salary, and to Chief Financial Officer Brian Morgan, worth 200% of his salary, comprising a standard annual grant and a recruitment-related element.