Pinewood Group, the film studio known for hosting James Bond productions, announced its financial results for the year ended March 31, 2026, reporting a 6% increase in revenue to £226.3 million. This growth was in line with expectations and reflected a high and stable level of industry activity, with the British Film Institute (BFI) reporting £6.5 billion in UK film and high-end television (HETV) expenditure, broadly consistent with the previous year. The company's Global Studios segment was a primary driver of this success, contributing 89% to the Group's overall contribution, bolstered by long-term, index-linked rental contracts and 15 active productions across its studios by the end of March 2026.
Adjusted EBITDA for FY26 rose by 6% to £144.8 million, demonstrating solid revenue expansion and effective cost management. The Media Hub business also performed strongly, achieving over 90% occupancy by year-end for its approximately 150 third-party businesses supporting the film and HETV sectors. Additionally, the Production Services business recorded year-on-year growth, adapting its offerings to reflect the industry's recovery and customer schedules. The Independent Film Hub, which opened in July 2025, hosted three productions during the fiscal year.
The Group's financial health was further underscored by a robust liquidity position and a significant reduction in net debt. Adjusted net debt decreased by £58.5 million to £932.4 million at March 31, 2026, down from £990.871 million in the prior year. This reduction was primarily due to a £290.3 million investment in UK Gilts from the March 2024 refinancing maturing this year, which coincided with the redemption of senior secured notes. Cash flow from operating activities after interest and tax stood at £79.4 million, slightly below the previous year due to increased tax payments offsetting higher operational cash generation. The company also secured outline planning consent for a data center development, indicating future optionality.
