ASHTEAD TECHNOLOGY HOLDINGS PLC (AT.) — Full Year Results

Investor webinar replay

Replay transcript excerpt

Good morning, and welcome to the ASHTEAD TECHNOLOGY HOLDINGS PLC investor presentation. Throughout this recorded presentation, investors will be in listen only mode. Questions are encouraged and can be dismissed at any time by the q and a tab situated in the right corner of your screen. Just simply type in your questions and press send. The company may not be in a position to answer every question it receives, you know, needs itself. Have the company will review your questions today and publish responses when it's appropriate to do so. Before we begin, I'd like to make the following poll, And I'd now like to hand you over to Alan Piri, CEO. Good morning to you, sir. Great. Thanks so much, everyone, for joining the call this morning. I'm joined with Ingrid Stewart, our CFO. And together, we'll run you through the results presentation for 2022 and hopefully answer any questions that you've got. Firstly, it's a really exciting time for the business. There's a great opportunity to capitalize on a very positive market backdrop here, and we've got a leading position and really well pleased to do that. But before we get into that, in terms of last year, we had strong revenue growth across all our markets. Headline growth, 31%, 24% of that was organic. We grew our renewables revenue by 22%, and we also grew oil and gas revenue by 35%. There was a favorable movement in FX predominantly around US dollar, which added 5.5%, and we had a small uplift from the acquisitions that we did later on in the year. Through the course of '22, we also increased utilization, we improved pricing, and that drove positive movement in gross margin. We're really well positioned to capitalize on the market opportunity that is in front of us. We invested $13,100,000 in the equipment fleet last year,...