Sunbelt Revenue Drops; Ashtead CEO Predicts Further Consolidation

Published Friday, June 19, 2009

Sunbelt Rentals posted total 2009 fiscal year revenue of $1.45 billion for the year ended March 31, a 10.8 percent revenue drop, parent company Ashtead plc announced last week. EBITDA for the year was $500.4 million, compared with $598.9 million in the previous fiscal year, a 16.4 percent drop, while operating profit decreased from $330.9 million in fiscal 2008 to $241.8 million in fiscal 2009, a 26.9 percent decline. Rental revenue for Sunbelt dropped 8 percent to $1.31 million, with physical utilization of 66 percent, compared with 68 percent for fiscal 2009. Rental revenue increased 2 ...

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