Audited Results for the year ended 28 Dec 2019

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[{"type":"text","content":"\n \n \n RNS Number : 9979N\n HSS Hire Group PLC\n 27 May 2020\n  \n \n \n \n HSS Hire Group Plc\n \n \n Audited Results for HSS Hire Group plc for the year ended 28 December 2019\n \n \n A consecutive year of record EBITDA; action taken to address impact of COVID-19\n \n \n HSS Hire Group plc (\"HSS\" or the \"Group\") today announces results for the year ended 28 December 2019\n \n \n  \n \n \n \n \n Financial Highlights - Continuing Operations\n \n \n FY19\n  \n \n \n FY18\n  \n \n \n Change\n  \n \n \n \n \n Revenue\n \n \n \n £328.0m\n \n \n \n £322.8m\n \n \n \n 1.6%\n \n \n \n \n \n Adjusted EBITDA1\n \n \n \n £63.9m\n \n \n \n £60.0m\n \n \n \n 6.6%\n \n \n \n \n \n Adjusted EBITDA margin\n \n \n \n 19.5%\n \n \n \n 18.6%\n \n \n \n 0.9pp\n \n \n \n \n \n Adjusted EBITA2\n \n \n \n £26.5m\n \n \n \n £22.1m\n \n \n \n 20.1%\n \n \n \n \n \n Adjusted EBITA margin\n \n \n \n 8.1%\n \n \n \n 6.8%\n \n \n \n 1.3pp\n \n \n \n \n \n Operating profit\n \n \n \n £16.8m\n \n \n \n £11.2m\n \n \n \n 49.9%\n \n \n \n \n \n ROCE3\n \n \n \n 20.8%\n \n \n \n 16.7%\n \n \n \n 4.1pp\n \n \n \n \n \n Net debt leverage4\n \n \n \n 2.8x\n \n \n \n 3.3x\n \n \n \n 0.5x\n \n \n \n \n \n Adjusted basic earnings per share 5\n \n \n \n 2.76p\n \n \n \n 1.51p\n \n \n \n 1.25p\n \n \n \n \n \n  \n \n \n \n \n \n \n \n \n \n  \n \n \n \n \n \n \n \n \n \n \n \n Other extracts\n \n \n \n \n \n \n \n \n \n  \n \n \n \n \n \n \n \n \n \n \n \n Profit / (loss) for the financial period\n \n \n \n £8.7m\n \n \n \n £(4.4)m\n \n \n \n £13.1m\n \n \n \n \n \n  \n \n \n The new accounting standard IFRS16 Leases will be adopted for the financial year beginning 29th December 2019.  IFRS16 has not been adopted for the current period and as such all of the financial results have been presented excluding the impact of the standard.\n \n \n  \n \n \n 2019 was another year of strong progress\n \n \n · \n \n Significant improvement in returns driven by highest EBITDA6 in Group's history  \n \n \n \n o  \n Adjusted EBITDA grew by 6.6% and Adjusted EBITA increased 20.1%\n \n \n o  \n Revenue growth and cost initiatives improved EBITDA margins by 0.9pp and EBITA margins by 1.3pp\n \n \n o  \n ROCE improved 4.1pp by leveraging insight tools, improved price controls and growth in the capital-ligh...

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