Highlights
Momentum continued in Q4 with Sunbelt rental revenue up 23%
Record Group pre-tax profit for the year of £247m (2012: £131m)
Group EBITDA margins of 38% (2012: 34%)
£580m of capital invested in the business
Group RoI of 16% (2012: 12%)
Net debt to EBITDA leverage reduced to 2.0 times (2012: 2.2 times)
Proposed final dividend of 6.0p making 7.5p for the year (2012: 3.5p)
Ashtead's chief executive, Geoff Drabble, commented:
"We are delighted to report another excellent set of results with key financial and non-financial metrics at record levels. Our largely organic investment strategy has again delivered strong revenue growth together with margin and return on investment improvement. We continue to make significant investment in the business with capital expenditure of £580m in the year and a similar level planned for the coming year. As a result of our strong margins, we are able to support this investment while at the same time continuing to delever.
With this momentum established in the business, cyclical recovery still to come and a strong balance sheet to support growth opportunities, we anticipate that our profits in the coming year will be ahead of our earlier expectations."
