Facilities By ADF, a provider of serviced production facilities to the U.K. film and television industry, announced that it predicts a significant increase in revenue and adjusted earnings before interest, taxes, depreciation, and amortization (Ebita) for the first half of this year. Although some productions have been impacted by writer and actor strikes in the U.S., Facilities By ADF remains confident in its long-term success.
Strong Performance Anticipated
Despite the challenges posed by the writer and actor strikes in the U.S., Facilities By ADF expects to report revenue of £21.8 million ($27.7 million) for the half year ending June 30. This represents a substantial improvement compared to £12.6 million reported in the same period last year. Additionally, adjusted Ebita is projected to reach £5.8 million, up from £2.6 million in the first half of last year.
Delays Caused by Strikes
Due to the ongoing strikes, certain productions have been delayed, with scheduled filming pushed back to early next year instead of this fall. However, it is important to note that Facilities By ADF’s U.K. operations remain unaffected and are expected to generate revenue between £35 million and £40 million for this year.
Optimism for Future Success
Marsden Proctor, Chief Executive of Facilities By ADF, expressed confidence in the company’s ability to capitalize on previous production levels once they resume. Proctor stated, “Whilst the Writers (WAG) and Actors (SAG-AFTR) strike is causing a short-term impact across our entire industry, as a board, we are confident the group is in a strong position to capitalize once previous productions level resume, and therefore remain very confident in the long-term success of ADF.”
Despite the negative news, shares of Facilities By ADF were down 3.4% at 43.0 pence as of 0827 GMT.
