Hollywood strikes fail to dampen outlook at production firm Facilities by ADF after The Crown gig
Film and TV production trailer provider Facilities by ADF has announced a “favourably high” long-term outlook ahead despite what has been a turbulent year of film strikes for the industry.
In an update to markets, the leading provider of premium serviced production facilities to the UK film and high-end television industry, including the Crown, said its revenue for the full year ended 31 December was £34.8m, up from £31.4m in 2022.
Adjusted earnings before interest, taxes, depreciation, and amortisation (EBITDA), however, fell four per cent to £7.3m from £8m.
Facilities by ADF chief executive Marsden Proctor said the performance showed its “resilience, marked by a robust first half tempered by the unprecedented joint strike by Hollywood actors and writers, the first of its kind in over six decades.
“As previously announced, the impact of these strikes has carried into the first half of the year, however, we are committed to prudently managing our cost structure during this period.”
In 2023, ADF secured 84 “high-profile productions”, including The Crown season 6 and The Gentlemen, with an average £385k in revenue per production.
“Despite these challenges, the long-term market outlook remains highly favourable for ADF, buoyed by sustained high levels of investment in the UK HETV industry,” Proctor said.
“The Board maintains confidence in the long-term prospects of the Group as market conditions stabilise.”