Maintel’s total revenue was £46.5m for the six months ended 30th June 2025, flat from the first half of 2024 (£46.6m), attributed to churned contracts offsetting a 20% growth in Project Revenue.
Adjusted EBITDA was reported as £3.4m, down from £4.8m due to increased employer costs, investment in IT systems, marketing spends in H1 and a big contract win at the beginning of 2024.
The report notes that Maintel’s planned cost mitigation activity, including reduced property related costs, continued transformation of the organisational model, as well as a comprehensive and ongoing procurement review, has begun in this half.
It expects this to deliver £1.0m - £1.5m of cost savings in FY 2025 and annualised cost savings of £2.0m - £2.5m from FY 2026 onwards.
Maintel states that its sales pipeline is the largest it has been for many years, climbing to £75m First Year Value at the end of June.
It reads: “The Board remains focused on Maintel’s long-term growth strategy and believes that, following the Company’s transformation from a generalist managed service provider to a highly skilled specialist, the business is making good progress.
“Such turnaround programmes take time, however the positive leading indicators, outlined in this update, demonstrate great progress and the Board is confident that these leading indicators will convert into improved financial results and increased shareholder value.