Portable power group Aggreko expecting H1 results in line with expectations
PORTABLE power supplier Aggreko has said it expects to deliver first half results in line with expectations.
The group, whose UK head office is in Cannock, said it anticipated that, on both an underlying and a reported basis, revenues in the first half would grow by around 5% and trading profits would be at similar levels to 2012.
On an underlying basis the Americas region is expected to grow revenues by around 11%, and EMEA by around 8%; APAC is expected to deliver revenues around 6% lower than last year, principally due to lower revenues from Japan and Indonesia.
Power Projects revenues are expected to be around 1% ahead of last year on both an underlying and reported basis. As anticipated, margins are likely to be lower than 2012, in part due to mobilisation costs from the 220MW of gas plants commissioned in Mozambique and in the Côte d’Ivoire; the majority of these costs will arise in the second quarter.
Order intake for the first half will be around 400MW which includes a summer peak-shaving contract in Tunisia of over 100MW as well as the previously-announced 122MW cross-border power project supplying power to Namibia and Mozambique. The group has also won two further contracts for its new HFO product.
The Local business is said to be on track to deliver a strong first half, with revenues growing by around 9% on an underlying basis and 8% on a reported basis; margins are expected to be a little higher than last year.
