Company blames U.S. trade policies and economic uncertainty for 25% revenue drop; acknowledges ‘material uncertainty’ in financial outlook
LONDON: Videndum PLC reported a significant decline in its first-half 2025 results, with revenue down 25% compared to the same period in 2024. The company, which provides hardware and software for the content creation market, cited ongoing macroeconomic uncertainty and U.S. trade policies as primary factors.
For the six months ending June 30, 2025, Videndum reported revenue of £115.4 million, a decrease from £153.3 million in the first half of 2024. The company also posted a statutory loss before tax of £20.1 million, a 50% increase from the £13.4 million loss in the previous year’s first half.
Stephen Harris, executive chairman, noted that while some conditions improved early in the year, U.S. trade policies created uncertainty for distribution channels, leading importers to delay orders. This resulted in weaker revenue in the United States, despite end-user demand remaining ahead of sales to Videndum’s distribution channels.
“The ongoing uncertain economic environment and the increased trading volatility due to US tariffs has led to a deterioration in the Group’s visibility of the potential outcome for FY25,” Harris said in a statement.
Despite the challenges, the company made some progress. It achieved approximately £6 million in cost savings during the first half of the year and remains on track to reach its target of £15 million for the full year. Additional cost savings are being implemented, with the company projecting an annualized exit rate of savings of around £19 million for 2025.
Videndum also successfully reset its revolving credit facility covenants in April and met its June EBITDA and liquidity covenants. The company raised £8 million in gross equity and sold its Amimon Israeli business, while retaining the intellectual property.
The company’s net debt increased to £137.7 million as of June 30, 2025, up from £133.0 million at the end of 2024. Discussions with lenders are ongoing.
Videndum also launched the “Manfrotto ONE,” a new hybrid tripod, during the period. The company stated that it has built up a limited amount of inventory of long lead-time components to be able to respond quickly to any increased demand in the independent content creators and Cine markets, where it sees signs of pent-up demand.