This presentation has been prepared to inform investors and prospective investors in the secondary markets about the Group and does not constitute an offer of securities or otherwise constitute an invitation or inducement to any person to underwrite, subscribe for or otherwise acquire securities in Ashtead Group plc or any of its subsidiary companies.
The presentation contains forward looking statements which are necessarily subject to risks and uncertainties because they relate to future events. Our business and operations are subject to a variety of risks and uncertainties, many of which are beyond our control and, consequently, actual results may differ materially from those projected by any forward looking statements.
Some of the factors which may adversely impact some of these forward looking statements are discussed in the Principal Risks and Uncertainties section on pages 36-39 of the Group's Annual Report and Accounts for the year ended 30 April 2020 and in the unaudited results for the first quarter ended
31 July 2020 under "Current trading and outlook" and "Principal risks and uncertainties". Both these reports may be viewed on the Group's website at www.ashtead-group.com
This presentation contains supplemental non-GAAP financial and operating information which the Group believes provides valuable insight into the performance of the business. Whilst this information is considered as important, it should be viewed as supplemental to the Group's financial results prepared in accordance with International Financial Reporting Standards and not as a substitute for them.
Continue to deliver for all our stakeholders: our people; our customers; our investors; and our communities
Strong performance in challenging markets demonstrating strength of model, diverse end markets and structural tailwinds
Record first quarter free cash flow of £447m (2019: £161m)
Reduced debt and lowered leverage1 to 1.8 times net debt to EBITDA, the middle of our target range
Resumed greenfield programme following COVID-19 driven pause with three openings
Look to the medium term with confidence and this year as one of strong cash generation and strengthening our market position
1 Excluding the impact of IFRS 16
-5% to -9% Broadly flat Broadly flat -5% to -9%
Capital expenditure (gross)2
£485m - £540mFree cash flow2
Greater than £1 billion
1 Represents year over year rental revenue growth, assuming no further significant COVID-19 shutdown
2 Stated at £1 = $1.30 and £1 = C$1.75
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Ashtead Group plc published this content on 08 September 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 September 2020 06:04:07 UTC