Aggreko Plc

Aggreko Plc

Aggreko Plc

Overview
Date Founded

1962

Headquarters

120 Bothwell Street, 8th Floor, Glasgow, G2 7JS, GBR

Type of Company

Public

Employees (Worldwide)

6,424

Industries

Industrial Machinery & Manufacturing
Engineering, Construction & Architecture
Retail: Other
Other Business & Consulting Services
Power & Utilities

Company Description

Aggreko Plc engages in the provision of mobile modular power, temperature control and energy services. It operates through the following segments: Rental Solutions, Power Solutions and Power Solutions Utility. The Rental Solutions segment refers to the transactional business serving a range of sectors in developed markets by providing power, heating, and cooling to a number of customer types who need it quickly and typically for a short period of time. The Power Solutions segment operates in emerging markets which serve both industrial and utility customers with power requirements. The Power Solutions Utility segment delivers longer-term projects providing power to national utility customers. The company was founded in 1962 and is headquartered in Glasgow, the United Kingdom.

Contact Data
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Executives & Employees

Chief Executive Officer

Chief Financial Officer

Group Chief Information Officer

President, Rental Solutions

Group People Director

Managing Director-Global Products & Technology

Managing Director-Power Solutions

Secretary & Group Legal Director

Head-Investor Relations, Media & Sustainability

Head of Pensions, Aggreko Pension Scheme

Board of Directors

Former Chief Financial Officer & Executive Director at Cadbury Ltd.

Former Assistant General Counsel at Alcoa Corp.

Former Group Chief Executive at Barratt Developments Plc

Chief Financial Officer at Aggreko Plc

Chief Executive Officer at Aggreko Plc

Visiting Professor at University of Strathclyde - Centre of Energy Policy

Chief Financial Officer at De Beers SA

Head, Industrials, Business Services, Energy & Resources, Head, Europe, Middle East & Africa at Temasek Holdings Pte Ltd.

Former Chief Executive Officer at Equality & Human Rights Commission

Group Chief Executive, Executive Director at DS Smith Plc

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Owners & Shareholders
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Liontrust IP is an active manager which utilizes tested investment processes consistently applied across their range of funds. As a result, investors benefit from the same portfolio when investing in their economic advantage process, cash flow solution process, Asia process, macro-thematic process, credit process or their multi-manager process. The firm’s economic advantage process evaluates listed UK companies for durable economic advantages such as intellectual property, a distribution channel or repeat business. Their cash flow solution process measures cash flow relative to operating assets and enterprise value and they construct portfolios using the combined measure to identify the top quintile stocks.

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Sprucegrove is a value manager which seeks to invest in quality companies selling at attractive valuations. Their approach has an emphasis on the long-term and a focus on the selection of individual common stocks using a bottom-up approach utilizing thorough internal research. In selecting companies for investment, they consider the historic financial performance, financial position, quality of management, and a growth potential in terms of sales, earnings, and share price. The firm analyzes stocks by using the following criteria: leadership position in share of market and technology; history of above-average profitability as measured by operating margins and return on common equity; strong financial position; the opportunity for growth via new products, markets, and/or market share; and management, including its consistency, experience, record, reputation, corporate governance practices and commitment to the business.

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BWM is an active, value-oriented manager which performs in-house research, estimating the intrinsic value of securities and buying only those that are most significantly undervalued providing a margin of safety, which is the key element within classical value investing.The firm utilizes a variety of analytical tools to determine intrinsic value including dividend discount models, sum of the parts valuations, private market values, relative value within a sector, etc. They realize that risk indicators such as volatility and beta, are based on sophisticated statistical theory and are convinced that thorough fundamental research reduces risk even more.

Recent Transactions
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Aggreko Plc, Aggreko Generator Rentals Pty Ltd. purchase Generator Hire Service Pty Ltd. from General Electric Company

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Aggreko Plc purchases A Contact Electric Rentals LP

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Aggreko Plc purchases Younicos GmbH from Calibrium Private Investments GmbH, Grupo Ecos

Transaction Advisors
Investment Advisor

Advised onAggreko Plc, Aggreko, Inc. purchase General Electric Co. /Energy Rentals Business from General Electric Company

Legal Advisor

Advised onAggreko Plc purchases Younicos GmbH from Calibrium Private Investments GmbH, Grupo Ecos

Legal Advisor

Advised onAggreko Plc, Aggreko, Inc. purchase General Electric Co. /Energy Rentals Business from General Electric Company

Legal Advisor

Advised onAggreko Plc, Aggreko, Inc. purchase General Electric Co. /Energy Rentals Business from General Electric Company

Associate

Advised onAggreko Plc, Aggreko, Inc. purchase General Electric Co. /Energy Rentals Business from General Electric Company

Associate

Advised onAggreko Plc, Aggreko, Inc. purchase General Electric Co. /Energy Rentals Business from General Electric Company

Advisors & Consultants
Legal Advisor

Partner at O'Melveny & Myers LLP

Legal Advisor

Managing Partner at Slaughter and May

Clients

Zijin Mining Group Co., Ltd. is an exploration company. The firm engages in exploration, mining and smelting processing of gold, copper, zinc, and other metal mineral resources. Its business includes exploration or acquisition of mineral resources, mining development resources, smelting and processing to improve the industrial chain; technology research and construction business; and combination of mining and finance, trade and logistics. The company was founded by Jing He Chen on July 15, 1986 and is headquartered in Longyan, China.

Chaarat Gold Holdings Ltd. owns, operates, and explores for gold deposits. The firm primarily engages in the development of Chaarat gold project located in the Sandalash River valley, the Kyrgyz Republic. It is also involved in the production of gold. The company was founded on July 20, 2007 and is headquartered in Bishkek, Kyrgyzstan.

Resolute is one of the largest gold producers listed on the ASX with three operating gold mines in Africa and Australia that have full exposure to the gold price. It continues to build shareholder value through its proven track record as a successful developer and operator of quality gold projects over the past 20 years. Its projects to date have yielded over 6 million ounces of gold. The Company is actively progressing its portfolio of projects and assessing new opportunities to further enhance shareholder value. The 2012 Financial Year has been a transformational period for Resolute Mining. Our substantial, hedge free gold production is generating strong cashflows in the current gold price environment. This has enabled Resolute to eliminate its debt and make significant cash returns to our shareholders while retaining sufficient funding to complete organic growth projects. Resolute is now extremely well positioned for the future. Production in FY12 of nearly 400,000 ounces of gold was a 20 per cent increase on that produced in the previous year. At the same time average group cash costs of $761 per ounce were down 16% on last year and resulted in a marked improvement in profits and cashflow. We are expecting a continuation of this performance in FY13 with a further production increase forecast albeit at a slightly higher unit cash cost. This means we are in an enviable position to consider strategic initiatives to add long term value for our shareholders. The Syama operation in Mali continues to improve and is now Resolute’s major asset. It has become a more consistent and reliable operation this year and is expected to approach its design throughput and production levels in FY13. This has contributed to the Resolute Board’s confidence in committing to a $241 million expansion during FY12 that will make Syama an even more substantial and robust long term asset. The expansion plan consists of three projects: the deepening of the main Syama pit which will double its life to 15 years; addition of an oxide circuit to add lower cost production ounces from treatment of the near-surface oxide ore along strike of the main pit; connection of the site to grid power which will deliver significant energy cost savings and other operational benefits. At Ravenswood in Queensland, the performance of the Mt Wright mine has been very pleasing. The mining method is now well established and is delivering on both its technical and financial parameters. We expect this to continue in the coming year. The Mt Wright decline is now developed to its designed depth and further development drilling to extend the depth of the ore body has commenced with positive early results. The feasibility study on the re-opening of the Sarsfield open pit, which will deliver a new long term ore source for the plant, is being critically reviewed for both capital and operating cost savings. The process to obtain all regulatory approvals for this is well advanced. Our Golden Pride mine in Tanzania is now in its final year of operation. It has been a key asset of the company and will have produced nearly 2.2 million ounces of gold over its 15 year life. We have an approved closure plan and we are well advanced in our work to meet its requirements. The Nyakafuru project, located 120 kilometres from Golden Pride, is shaping as a potential new development option in Tanzania utilising a relocated Golden Pride plant. An extensive drill program to expand the current 1.1 million ounce resource has met with good success and we should get a better understanding of the prospects for this project over the coming year. We are planning for another strong year on the exploration front with an approved budget of $22 million. Apart from Nyakafuru, our major focus is on expanding the oxide resources along the Syama strike where we have already had exceptional success. Further drilling of the breccia pipe targets at Ravenswood, in particular the Golden Valley breccia complex, is also planned. Our greatly improved financial position has provided an opportunity to pursue a number of new initiatives to add value for Resolute shareholders. Firstly, we have been able to return just over $70 million to shareholders this year through an opportunistic share buyback program and a 5 cent per share dividend, our first such payment in 13 years. Secondly, we have been able to commit to the organic growth projects without recourse to further debt or equity fund raising activities. Thirdly, we are well placed to consider further growth options to add to our production profile through acquisition or farm in opportunities. Striking the right balance between these three key areas is a challenge that I believe Resolute’s management team and Board has the necessary experience, skills and dedication to accomplish. We are now very well placed to deliver further value to shareholders. The continued commitment of our employees, support of the Board and encouragement from shareholders is important to the outcomes we will achieve. I would like to very much thank you all for your support and look forward to the year ahead.

Key Stats and Financials As of 2020
Market Capitalization
$3.1B
Total Enterprise Value
$2.63B
Earnings Per Share
$-0.58
EBITDAMargin
32.45%
Enterprise Value / Sales
1.46x
Enterprise Value EBITDAOperating
4.49x
TEVNet Income
-17.9x
Debt TEV
0.25x
Three Year Compounded Annual Growth Rate Of Revenue
-7.59%
Revenue
$1.81B
Net Profit
$-147M
Total Equity
$1.52B
Total Debt
$645M
EBITDA
$587M
Investments
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Origami Energy Ltd. develops and commercializes a technology platform for distributed energy applications. It offers technology and solutions to connect, control and manage a network of existing energy generating and energy storing assets connected to the electricity grid. The company was founded by Peter Bance in 2013 and is headquartered in London, the United Kingdom.

Suppliers
General Electric Company Shipping & Delivery | Boston, MA

General Electric Co. engages in the provision of technology and financial services. It operates through the following segments: Power, Renewable Energy, Aviation, Healthcare, and Capital. The Power segment offers technologies, solutions, and services related to energy production, which includes gas and steam turbines, generators, and power generation services. The Renewable Energy segment provides wind turbine platforms, hardware and software, offshore wind turbines, solutions, products and services to hydropower industry, blades for onshore and offshore wind turbines, and high voltage equipment. The Aviation segment provides jet engines and turboprops for commercial airframes, maintenance, component repair, and overhaul services, as well as replacement parts, additive machines and materials, and engineering services. The Healthcare segment provides healthcare technologies in medical imaging, digital solutions, patient monitoring, and diagnostics, drug discovery, biopharmaceutical manufacturing technologies and performance enhancement solutions. The Capital segment leases and finances aircraft, aircraft engines and helicopters, and also provides financial and underwriting solutions. The company was founded by Thomas Alva Edison in 1878 and is headquartered in Boston, MA.

Ricardo Plc Management Consulting | Shoreham-by-sea, United Kingdom

Ricardo is a leading global provider of product innovation, engineering solutions, clean technology and strategic consulting. Through our advanced and well-equipped technical facilities in North America, Europe and Asia we serve a wide and balanced customer base including the market-leading brands across a range of industrial sectors, as well as government agencies and national and international regulatory authorities. We are a public company quoted on the London Stock Exchange and a constituent of the FTSE techMark 100 index. Since Ricardo was founded nearly a century ago, the company has been renowned for its track record of highly successful research-led product innovation and development expertise. With our internally funded research activity and proven ability to attract the best of international scientific and engineering talent, Ricardo has been able to maintain its technical edge, which has provided us – and our customers – with crucial first mover advantage in highly competitive markets. Ricardo’s deep technical knowledge and wide experience is particularly apparent in the transportation sectors that we serve, which range from passenger cars and motorcycles, to commercial, agricultural and off-highway vehicles, railway locomotive power and marine propulsion systems. Key areas of expertise include low-carbon gasoline, diesel, hybrid and fuel cell powertrain technologies; the latest driveline and transmission systems; control electronics and software development; vehicle systems integration, and the engineering of the latest concepts in wind energy and tidal power systems. Ricardo is capable of taking on the toughest of engineering and strategic consulting challenges and has an enviable track record of delivering exacting projects on time and to budget. Our most important asset is our team of dedicated professionals – of which nearly three quarters are highly qualified, multi-disciplined engineers and technicians. Our core values include respect for all our stakeholders, utmost integrity in our honest and ethical approach to our work, the creativity and innovation that has defined the very character of Ricardo for almost a century, and the passion and commitment to our work that underscores everything we do for our customers. Creativity in collaborative working is in the Ricardo DNA; it is no coincidence that time and again, big name clients across multiple industries return to Ricardo for successful project delivery, and record their appreciation of the seamless way that Ricardo people integrate into project teams.

Competitors
GL Events SA Other Business & Consulting Services - Lyon, Fra

GL Events SA engages in the provision of integrated solutions and services for events. It operates in the following business segments: conventions, conferences, congresses; cultural, sports, institutional, corporate & political events, trade fairs and, exhibitions for professionals and the general public. The company was founded by Olivier Ginon, Olivier Roux, Gilles Gouédard-Comte, Olivier Ginon and Jacques Danger in 1978 and is headquartered in Lyon, France.

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