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An announcement from The Vitec ( (GB:VID) ) is now available.
Videndum plc announced that its FY24 results aligned with the guidance set in December 2024, with the February 2025 covenant test waived and discussions on the March 2025 covenant ongoing. The company is actively working on refinancing its Revolving Credit Facility, scheduled to expire in August 2026, while implementing restructuring initiatives aimed at operational efficiency, including relocating manufacturing operations to Italy. These initiatives are part of Videndum’s strategy to achieve a £15 million cost-saving target by 2025. Executive Chairman Stephen Harris expressed optimism about market improvements, particularly in Cine and Broadcast, noting a positive outlook for revenue growth as market conditions recover, although acknowledging that more work is required to solidify the company’s market position.
More about The Vitec
Videndum is a leading global provider of premium branded hardware products and software solutions to the growing content creation market. The company’s clients include broadcasters, film studios, production and rental companies, photographers, independent content creators, gamers, professional musicians, and enterprises. Their product portfolio encompasses camera supports, video transmission systems and monitors, live streaming solutions, smartphone accessories, robotic camera systems, prompters, LED lighting, mobile power, carrying solutions, backgrounds, motion control, audio capture, and noise reduction equipment. Videndum employs approximately 1,500 people worldwide and is listed on the London Stock Exchange under the ticker VID.
YTD Price Performance: -56.85%
Average Trading Volume: 222,251
Technical Sentiment Consensus Rating: Buy
Current Market Cap: £58.77M
Learn more about VID stock on TipRanks’ Stock Analysis page.
