• Centurion
• 16/10/2023

FULL YEAR RESULTS FOR THE 12 MONTHS TO 31 DECEMBER 2022

ACCELERATED GROWTH AND RECORD RESULTS

Centurion Group (“Centurion” or “the Group”), a global leader in the supply of rentals and services to critical industries, has today published its financial results for the year ended 31 December 2022.

FINANCIAL HIGHLIGHTS FOR 2022

• Group revenue increased by 68% to $669.74m (2021: $398.4.0m) reflecting strong strategic execution and end market recovery
• Adjusted EBITDA increased by 80.2% to $116.6m (2021: $64.7m)
• Adjusted EBITDA margin increasing to 17.4% (2021: 16.5%)
• Group adjusted profit after tax of $41.1m, a significant improvement on 2021’s adjusted profit after tax of $3.8m
• Continued investment supported by strong cash generation from operations of $81.3m (2021: $71.8m)
• Three acquisitions adding technical capabilities aligned to our sustainability focus:
  • Canlift, which enhances our Western Canadian capability in crane services
  • RMEC, a UK based integrated rentals and service company delivering innovative solutions to maximise production and support decommissioning
  • Trido Energy Services, a leading provider of carbon reducing solar powered production equipment and carbon credit management service to the energy industries in North America

STRONG PROGRESS CONTINUING IN 2023

The Group made a strong start to 2023 with Q1 revenue and adjusted EBITDA ahead of the comparable period last year by 30% and 55% respectively, as a result of continued improvement in the Group’s end markets and market share gains. The Group anticipates that these higher levels of activity will continue through 2023.

Fernando Assing, Chief Executive Officer, said:

“Centurion’s focus on providing high quality rentals and services to critical industries delivered record results for the Group in 2022, as we took market share in our core markets of the US, Canada, the UK, Europe & Caspian, the Middle East & North Africa and Asia Pacific. Around the world, Centurion is providing customers across a range of industries with the equipment they need, when they need it, helping them execute vital projects across multiple sectors in the most efficient way possible.

“We continue to drive organic growth at sustainably strong margins, which reflect the value of the services that we provide. The Group remains focused on accelerating growth and enhancing our capabilities through high quality acquisitions, enhancing our capabilities in existing and new areas. We welcome the Blue Drop team to the Group and continue to have a very active pipeline of acquisition opportunities.

“With a number of key acquisitions in the pipeline, 2023 is poised to be an exciting year for Centurion; we are in a strong financial position and look forward to the future as we continue to build our position as a world leading provider of rentals and services serving multiple industries.”

-END-

Enquiries:

Teneo

Martin Robinson / Nina Chatrath / George Croton

+44 (0) 207 353 4200 / centurion@teneo.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 in five main regions: the US, Canada, UK, Europe & Caspian, Middle East & North Africa, and Asia Pacific, with strong local presence in key energy markets to deliver value to customers around the world.

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