Amcomri’s FY25 trading beat – revenue up 22% and EBITDA ahead of expectations
Amcomri Group plc has served up a reassuring FY25 trading update. The Group expects to deliver approximately £70.9 million of revenue for the 12 months to 31 December 2025, up 22% from £58.1 million in 2024. Adjusted EBITDA is set to be in excess of £9 million, up 17% from £7.7 million in 2024 – and notably ahead of market expectations.
That is a solid combination of top line growth and margin resilience. Adjusted EBITDA – earnings before interest, tax, depreciation and amortisation – is the preferred profit yardstick here, and the company says it is beating what the market had pencilled in.
| Metric | FY25 | FY24 | Change |
|---|---|---|---|
| Revenue | £70.9 million (approx.) | £58.1 million | +22% |
| Adjusted EBITDA | In excess of £9.0 million | £7.7 million | +17% |
What is driving the outperformance in FY25?
The update points to continued demand across the Group’s core markets, with the Embedded Engineering division doing much of the heavy lifting. Growth came from significant new contracts with new and existing customers, supplemented by contributions from recent acquisitions.
There was also strong demand in businesses servicing the defence and civilian aerospace sectors. That mix typically brings longer-cycle, regulated work where safety, compliance and uptime are critical – a sweet spot for Amcomri’s technical services.
Embedded Engineering and B2B Manufacturing – a quick refresher
- Embedded Engineering: specialist engineering and technical services for major industrial, infrastructure and transportation clients. This includes support for mission-critical, capital-intensive assets such as high voltage transmission systems, petrochem and continuous process plants, and large power generation sites.
- B2B Manufacturing: selective, niche business-to-business operations where Amcomri believes it can lift performance by combining an initially strong market position with its business improvement toolkit.
Acquisitions: immediately earnings-accretive and building capability
FY25 saw two bolt-ons into Embedded Engineering: EMC Elite Engineering Services Limited in March 2025, and Randor Technologies Limited (trading as Electronix Services) in July 2025. Both are described as immediately earnings-accretive, which means they have added to profit from day one.
The company expects these deals to bring operational synergies over time, broaden the Group’s technical service offering and open up new geographic markets. Management also flags a strong and active pipeline heading into FY26, alongside a number of organic growth projects across both divisions.
Why these acquisitions matter
- Earnings accretion now – helpful for near-term profitability.
- Broader capabilities – more reasons for customers to award multi-service contracts.
- Geographic expansion – a wider footprint tends to support scale and utilisation.
- Synergies – scope to streamline overheads and cross-sell, though timing and quantum are not disclosed.
Leadership: promotion underscores the growth agenda
From 1 March 2026, Mark O’Neill has been promoted from Investment Director to Chief Operating Officer, and will continue to lead buy side origination and the roll-out of the acquisition strategy. That dual remit suggests Amcomri is formalising operational bandwidth for integration while keeping its M&A engine humming.
In acquisitive groups, execution discipline and integration speed are critical. Having the acquisitions lead also sit as COO can tighten the feedback loop between deal selection and operational delivery.
FY26 has started well and is in line with expectations
After the strong FY25, trading has started well in FY26 across both Embedded Engineering and B2B Manufacturing. The company says it is trading in line with expectations and will provide a further update alongside the FY25 final results.
Supporting the narrative, CFO Siobhán Tyrrell highlights strong financial progress in FY25, successful execution of the acquisition strategy and continued demand in core markets. She also points to a strong acquisition pipeline into FY26 with the Group well positioned for further profitable growth.
Dates for your diary: results and investor access
- FY25 final results: 14 April 2026.
- Analyst briefing: 9.30 a.m. on 14 April 2026. Analysts should contact Walbrook PR on [email protected] or +44 (0)20 7933 8780.
- Investor presentation: 11.00 a.m. on 15 April 2026 via Engage Investor. Register here: engageinvestor.news/AMCO_IP26. Questions can be submitted in advance or live, or via [email protected].
Company site for more background: www.amcomrigroup.com
My take: why this update matters for Amcomri shareholders
- Beat on expectations – guiding to adjusted EBITDA in excess of £9 million is a clear positive. It supports the idea that demand is holding up and that acquisitions are contributing as planned.
- Quality of growth – revenue up 22% alongside a 17% EBITDA uplift indicates the business is scaling while protecting profitability. The details of gross or operating margins are not disclosed, but the headline mix looks healthy.
- Strategic momentum – immediately earnings-accretive deals in FY25, a strong pipeline into FY26, and a COO promotion point to a company leaning into its Buy-Improve-Build playbook.
- Sector exposure – resilience in defence and civilian aerospace-facing businesses can underpin utilisation and pricing in a tougher macro, though no sector split is disclosed.
What is not disclosed and what to watch next
- Balance sheet and cash flow – net debt or cash, working capital and free cash flow are not disclosed. These will be important to gauge capacity for further acquisitions and integration spend.
- Order book and contract visibility – not disclosed. Helpful indicators of forward revenue would be backlog and renewal rates.
- Synergy delivery – the company signals progressive synergies from EMC Elite Engineering Services and Electronix Services. Timelines and expected savings are not disclosed, so watch for colour on integration milestones.
- FY26 guidance – trading is in line with expectations, but there is no quantified FY26 outlook yet. The results on 14 April should add detail.
Bottom line: a confident update with catalysts on the near horizon
This is a clean, confident trading statement: double-digit revenue growth, adjusted EBITDA ahead of expectations, and two immediately accretive acquisitions bedding in. The early read on FY26 is stable, and management changes signal continued focus on scaling with discipline.
Key catalysts are the FY25 results on 14 April 2026 and the investor presentation on 15 April. I will be watching cash conversion, integration progress and any additional colour on the acquisition pipeline. For now, the trajectory looks positive, with operational execution and balance sheet detail the next pieces of the puzzle.
