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Wed October 28 2020

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Sports events power Aggreko

17 Dec 10 Plant hire company Aggreko made £90m revenues from supplying generators to just three events this year - the FIFA World Cup, the Winter Olympics and the Asian Games.

This business has helped the company reduce debt by £30m to around £145m.

When it finalises its account in March, Aggreko expects to report 2010 group revenues in the region of £1.22bn (up 20% on 2009) and profit before tax and amortisation of around £305m (up 25% on 2009). 

Excluding the unlikely to be repeated triple whammy of the three major sporting events, underlying growth in revenue and trading profit for the year is expected to be around 11%.

Aggreko expects to spend around £320m on new equipment for hire in 2011, £60m more than in 2010, and about 1.7 times fleet depreciation.  This expenditure reflects both an increase in fleet capacity, and a higher proportion of the investment accounted for by gas fleet, which is about twice the cost per megawatt of diesel fleet.

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MPU

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