Ashtead Group plc reported unaudited consolidated earnings results for the third quarter and nine months of 2012. For the quarter, the company reported revenue of £294.7 million against £242.7 million for the same period last year. EBITDA was £121.0 million against £85.8 million for the same period last year. Operating profit was £62.7 million against £33.1 million for the same period last year. Profit on ordinary activities before taxation was £52.3 million against £20.0 million for the same period last year. Profit attributable to equity holders of the company was £33.6 million or 6.6 pence per diluted share against £12.8 million or 2.5 pence per diluted share for the same period last year. Net debt as at January 31, 2013 was £1,076.6 million against £911.2 million as at January 31, 2012. Underlying operating profit was £64.2 million against £33.7 million for the same period last year. Underlying profit before taxation was £53.8 million against £20.6 million for the same period last year. Underlying earnings per share were 6.9 pence against 2.7 pence for the same period last year. For the nine months, the company reported revenue of £899.6 million against £759.5 million for the same period last year. EBITDA was £396.8 million against £292.4 million for the same period last year. Operating profit was £223.7 million against £141.2 million for the same period last year. Profit on ordinary activities before taxation was £165.2 million against £102.9 million for the same period last year. Profit attributable to equity holders of the company was £104.7 million or 20.6 pence per diluted share against £65.0 million or 12.8 pence per diluted share for the same period last year. Net cash used in operating activities was £106.7 million against £37.0 million for the same period last year. Payments for non-rental property, plant and equipment were £49.4 million against £40.5 million for the same period last year. Payments for purchase of intangible assets were £1.1 million. Underlying operating profit was £227.6 million against £143.3 million for the same period last year. Underlying profit before taxation was £194.5 million against £105.0 million for the same period last year. Underlying earnings per share were 24.6 pence against 13.3 pence for the same period last year. Net debt was £1,077 million compared to £911 million a year ago. Capital expenditure during the nine months totaled £427 million compared to £336 million a year ago. For the full year of 2013, the company now anticipates capital expenditure of around £550 million. This includes the around $100 million of fleet expenditure previously planned for fiscal 2014 into the fourth quarter of 2013. After disposal proceeds, net payments for capital expenditure are expected to be around £450 million.

Ashtead Group plc, Q3 2013 Earnings Call, Mar 05, 2013

Ashtead Group plc, Q3 2013 Fixed Income Call, Mar 05, 2013