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HSS Hire Group (HSS) investor relations material
HSS Hire Group H2 2024 & Q1 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Completed strategic transformation with separation of ProService and THSC, enabling each to pursue independent growth strategies.
Entered a long-term commercial agreement with Speedy Hire and conditionally agreed to sell THSC, transitioning to an asset-light, digital marketplace model.
Disposed of non-core Power and Ireland businesses, using proceeds to reduce debt and strengthen the balance sheet.
Financial highlights
FY25 revenue (15 months): £379.0m vs £312.4m in FY23 (12 months); LTM revenue down 5.2% to £298.2m.
Underlying EBITDA: £50.5m (FY25) vs £54.5m (FY23); LTM EBITDA down 26.7% to £38.8m.
Underlying EBITA: £6.6m (FY25) vs £21.6m (FY23); LTM EBITA down 80.1% to £3.9m.
Loss before tax: (£130.3m) (FY25) vs £6.9m (FY23), driven by a £113.5m impairment charge on THSC.
Net debt reduced by £14.0m to £97.6m; leverage increased to 2.3x (from 1.9x).
No final dividend declared for FY25; interim dividend of 0.187p paid.
Outlook and guidance
ProService positioned for growth as a digital marketplace, with a strong pipeline and focus on expanding product verticals.
THSC to be sold, with proceeds and new structure expected to improve capital allocation and focus.
Market remains subdued, but management is optimistic about long-term prospects and ongoing refinancing discussions.
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