Videndum Plc (LSE:VID) revealed its financial results for the first half of 2025 on Wednesday, highlighting ongoing headwinds in its core markets alongside a challenging debt situation. The company’s leadership is actively working to manage its elevated debt levels as trading conditions remain difficult.
The imaging and broadcast equipment manufacturer reported an operating loss of £7.0 million in the first six months, marking an improvement compared to the £29.2 million loss recorded in the latter half of 2024.
Revenues totaled £115 million, reflecting a 9% decline from the second half of last year and a 23% drop year-on-year on a constant currency basis.
Videndum’s net debt increased by 17% year-over-year to £137.7 million but was only slightly higher—by £4.7 million—than the amount at the end of 2024.
In April 2025, the company adjusted the covenants tied to its revolving credit facility and successfully complied with June’s requirements. However, it still faces the need to refinance or negotiate a deleveraging plan within the next few months.
Breaking down by segments, Media Solutions generated £55.8 million in sales with an EBITA of £1.6 million, impacted by uncertainty over U.S. tariffs. Production Solutions posted £37.1 million in sales but recorded an EBITA loss of £1.4 million, while Creative Solutions reported £22.5 million in sales and an EBITA loss of £0.9 million.
Videndum pointed to several difficulties including the effect of U.S. tariff policies, recent wildfires in Los Angeles, and broader market unpredictability. The second quarter proved particularly challenging, reducing visibility for the remainder of 2025 and leading management to withhold full-year guidance.
Nonetheless, the company noted some encouraging signs such as growing order backlogs, improved market sentiment in select areas, and strong pent-up demand.
Cost-saving initiatives delivered £6 million in benefits during H1, with management targeting an additional £9 million for the second half and aiming for a full-year annualized savings run-rate near £19 million by year-end.
Videndum also flagged upcoming product launches from its Teradek and Manfrotto brands. Still, analysts caution that consensus full-year EBITA estimates of £8.8 million for 2025 may come under pressure following this update.
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