• Centurion
  • 16/06/2022



Aberdeen, UK, June 2022 – Centurion Group (“Centurion” or “the Group”), a global leader in the supply of essential rentals and services to critical industries, today publishes its statutory financial results for the year ended 31 December 2021.


  • Group revenue increased by 35% to $398.4m (2020: $295.0m)
  • Gross profit before exceptional and adjusting items increased by 42% to $99.1m (2020: $69.7m)
  • Gross margin before exceptional and adjusting items increased by 25.3% (2020: 23.6%)
  • Group EBITDA increased by 37.4% to $64.7m (2020: $47.1m)
  • Group adjusted profit after tax of $3.8m, a significant improvement on 2020’s adjusted loss after tax of $10.6m
  • Leverage (net debt: EBITDA) of 2.2x significantly reduced from 2020: 2.9x and this is after funding $26.4m in capital expenditure and $55.6m for acquisitions
  • Strong financial position with available committed bank facilities and cash and cash resources of $88.1m at 31 December 2021

2021 has been a year of significant strategic progress in which we have delivered a strong financial performance, increasing both revenue and EBITDA, whilst investing and reducing leverage.


Centurion’s strategy created a strong foundation that enabled the Group to successfully navigate the COVID-19 pandemic and drive the Group’s return to growth. We have continued to focus on three strategic pillars:

  • Increase scale and diversification
  • Accelerate cross-selling and differentiation
  • Add more technical and environmentally sustainable offerings

During 2021, the Group continued to implement its acquisition strategy and acquired three businesses to enhance its scale and geographic reach whilst adding more technical and environmentally sustainable offerings.

Centurion acquired Specialist Services, an innovative provider of modular buildings, production equipment and other technical services which significantly expanded the Group’s footprint in the Middle East. In addition, Centurion acquired Polar Septic Systems, a leading provider of wastewater rentals and treatment solutions in Canada, and Aberdeen based Aleron who design and manufacture specialized subsea equipment for sale and rental to the subsea energy, decommissioning, telecoms and offshore wind markets.

On 16 December 2021, the Group extended the term and upsized its existing multi-currency credit facility from 31 December 2022 to 31 December 2024 from $230m to $300m. In addition, the Group added Royal Bank of Canada and the Toronto-Dominion Bank to the existing consortium of banks.


The Group has made a strong start to 2022 with Q1’22 Revenue and Adjusted EBITDA ahead of Q1’21 by 71% and 75% respectively, as a result of the continued improvement in the Group’s end markets. The Group anticipates that these higher levels of activity will continue through the remainder of 2022.

The group continues to implement its strategy and in Q1’22 made three further acquisitions as follows: Canlift Crane based in Canada, a crane services business servicing energy, infrastructure, construction and government end-markets; RMEC Group based in UK, a rental and services business servicing the international energy market; and Trido Energy Service based in Canada, a manufacturer of solar production equipment and a carbon credit management service.

The macro-economic environment remains challenging with supply chain constraints, inflation and interest rates continuing to create uncertainty in the year ahead. Despite this, the Group is well positioned to enhance its position as a global leader in the supply of critical rental, infrastructure and support services, and through the continued implementation of its strategy will continue to deliver long term value creation for all its stakeholders.

Fernando Assing, Chief Executive Officer, said:

“I am very pleased with the significant financial and strategic progress we made in 2021 and the very encouraging results achieved in Q1 2022, which may suggest an even stronger year to come.

We have delivered a strong financial performance, further improved our liquidity and have implemented our acquisition strategy with a number of exciting acquisitions which have expanded our product and service offering into more technical and environmentally sustainable offerings. The progress made across our various businesses reflects our people’s ambition, dedication and commitment to sustainable growth. We will continue to pursue acquisition targets and to explore opportunities in new geographies and new products and services on a selective basis.

We remain committed to helping our clients and partners achieve their commercial and sustainability goals. The Group’s diverse range of capabilities coupled with its global footprint presents a good platform for further growth and we are excited by the opportunities ahead.”



Tulchan Communications

Martin Robinson / Guy Bates / Toby Zeal

+44 (0) 207 353 4200 / centurion@tulchangroup.com

About Centurion Group

Centurion is a global leader in the supply of critical services to the oil & gas, infrastructure, power, environmental and renewable energy industries. It combines the scale and the breadth of offerings via its four global geomarkets: US Land (USL); Canada Rentals & Services (CR&S), Canada Infrastructure (CINF) and Rest of World (RoW), with strong local presence in key energy markets like US, Canada, UK & Europe, Caspian, Middle East, Asia and Australia, to deliver value to customers around the world.

For more information, please visit www.centuriongroup.co.uk

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