Final Results

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[{"type":"text","content":"\n \nRNS Number : 0704V HSS Hire Group PLC 04 April 2019  \n\n \nHSS Hire Group plc\nAudited Results for HSS Hire Group plc for the year ended 29 December 2018\nExcellent strategic progress delivered significant profit improvement\nHSS Hire Group plc (\"HSS\" or the \"Group\") today announces results for the year ended 29 December 2018. \n\n\n\nTotal (Continuing and Discontinued Operations)\n\n\nFY18\n \n\n\nFY17\n \n\n\nChange\n\n\n\n\nRevenue\n\n\n£352.5m\n\n\n£335.8m\n\n\n5.0%\n\n\n\n\nAdjusted EBITDA1\n\n\n£71.3m\n\n\n£48.9m\n\n\n£22.4m\n\n\n\n\nAdjusted EBITDA margin\n\n\n20.2%\n\n\n14.6%\n\n\n5.6pp\n\n\n\n\nAdjusted EBITA2\n\n\n£27.4m\n\n\n£1.8m\n\n\n£25.6m\n\n\n\n\nAdjusted EBITA margin\n\n\n7.8%\n\n\n0.5%\n\n\n7.3pp\n\n\n\n\nOperating profit/(loss)\n\n\n£16.3m\n\n\n£(71.4m)\n\n\n£87.7m\n\n\n\n\nReported loss before tax\n\n\n£(4.5m)\n\n\n£(85.2m)\n\n\n£80.7m\n\n\n\n\nAdjusted diluted earnings/(loss) per share3\n\n\n3.45p\n\n\n(5.68)p\n\n\n9.13p\n\n\n\n\nContinuing Operations\n\n\n\n\n\n\n\n\n\n\n\n\n\nRevenue\n\n\n£322.8m\n\n\n£304.0m\n\n\n6.2%\n\n\n\n\nAdjusted EBITDA1 \n\n\n£60.0m\n\n\n£36.0m\n\n\n£24.0m\n\n\n\n\nAdjusted EBITA2\n\n\n£22.1m\n\n\n£(6.8m)\n\n\n£28.9m\n\n\n\n \nDelivered highest adjusted Total EBITDA in Group's history\n·      Adjusted Total EBITDA up 45.8% to £71.3m\n·      Total Rental revenue growth, focus on profitability and cost initiatives improved margins by 5.6pp to 20.2%\n·      Adjusted Total EBITA increased to £27.4m with margins increasing 7.3pp to 7.8%\n \nTotal revenue increased 5.0%, with underlying5 growth of 7.1% \n·      Underlying4 Total Rental revenue growth of 4.1% driven by improved availability, sales initiatives and strength of seasonal product range\n·      LTM utilisation5 has increased in Tool Hire to 51.8% (FY17: 49.7%) and remained consistently high in Specialist businesses at 72.7% (FY17: 71.9%)\n·      Continued fast growth in capital light Services with Total revenue +12.0% and contribution +23.8%, through strong performance from our OneCall re-hire and Training businesses\n \nMaterial reduction in net debt leverage to 3.3x (FY17: 4.8x)\n·      Successfully secured £2...

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