Videndum reports improved Q3 order intake amid ongoing lender talks

Investing.com -- Videndum plc on Thursday provided a trading update for the third quarter ending September 30, showing signs of recovery with order intake strengthening after a slow summer period.

The company reported its order book was up approximately 40% year-on-year as of September 30, with September orders 6% higher than the same period in 2024 - the highest in over a year. Third-quarter revenue improved to 8% lower year-on-year (excluding the impact of the 2024 Paris Olympics), compared to a 25% decline in the first half.

The content creation hardware provider said its Q3 EBITDA was 50% higher than what was achieved in the first half, benefiting from previously announced £19 million cost-saving programs that are delivering as expected.

Videndum continues to make "constructive progress" with its lending banks on a deleveraging plan and has met its September EBITDA covenant. The company reported net debt of £139 million as of September 30, which includes £27 million of finance leases.

Lenders have requested a trailing last twelve-month October EBITDA covenant of £10 million, which the company described as a "stretching" target. Videndum expects sufficient progress on its deleveraging plan that lenders would waive or defer covenants if trading falls short.

The company completed the previously announced sale of its consumer-oriented JOBY brand to VIJIM, with gross cash proceeds of approximately £5 million. The company has received 80% of the proceeds, with the balance held in escrow to follow within the next six months.

Videndum’s board expectations for fiscal year 2026 remain unchanged, with the company noting that limited inventory in the markets means any uptick in end market demand will quickly translate to revenue.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.