Page 39 - April 2022

TICKER TAPE
rates in what is a better rate environment than we have seen
for a number of years.” The UK business generated rental only
revenue of £301m, up 14% on the prior year, driven by work for EQUIPMENT
the Department of Health in its Covid-19 response efforts, as well
as operational improvements in the business. Canada’s rental
only revenue increased 32% to C$340m (2021: C$258m) reflecting
the depressed figures of the previous year, due to Covid-19
restrictions. Ashtead chief executive, Brendan Horgan, said the
group’s ‘Sunbelt 3.0’ strategic growth plan was “embedded in the
business and we are making good progress across all actionable
components.”
“In the nine months, we invested $1.7bn in capital across existing
locations and greenfields and $938m on 19 bolt-on acquisitions,
adding a combined total of 81 locations in North America.
SUNBELT RESULTS POINT TO STRONG GROWTH “This significant investment takes advantage of the ongoing
Ashstead Group - which owns Sunbelt Rentals in North America structural growth opportunity that we continue to see in the
and the UK - has released results for the nine months ended 31 business as we seek to deliver on our strategic priorities, to grow
January 2022, showing overall revenue up 19% to $5.8bn, with general tool and amplify specialty, all achieved while remaining
rental revenues of $5.4bn, up 21% on the previous nine month at the lower end of our target leverage range. “We expect capital
period. The group indicated in a statement that the result reflects expenditure for the full year to be slightly ahead of our previous
its strategy, of growing its general tool and specialty rental guidance at c.$2.5bn. Looking forward to 2022/23, our initial plans
business, as well as expanding through greenfield sites and bolt- are for gross capital expenditure of $3.2 - 3.4bn, as we look to take
on acquisitions. In the US, rental only revenue of $3.5bn for the advantage of strong market conditions, particularly in the US.”
nine months was 19% higher than the prior period, representing Horgan added that the business was “well positioned to manage
“continued market outperformance” and demonstrating the and benefit from the unique market circumstances we face,
benefits of growing the specialty businesses.” including supply chain constraints, inflation and labour scarcity,
Specialty businesses grew by 27% during the period. Rental which we believe to be drivers of ongoing structural change.”
revenue growth had been driven by volume, with a larger fleet Ashstead Group now expects full year results “to be slightly ahead
and improved utilisation, but had also “benefitted from improved of our previous expectations.”

DAIMLER TRUCK LAUNCHES GLOBAL INNOVATION Truck worldwide, the company stated.
CENTRE IN BENGALURU “The automotive sector is evolving at a very fast pace. Disruptive
German commercial vehicle maker Daimler Truck launched its automotive technologies and high-quality next generation
global innovation centre in Bengaluru. The Daimler Truck Innovation vehicles will be paramount for companies to create a
Center India (DTICI) aims at tapping into India’s engineering and differentiation in the industry.
IT talent to develop innovative products both locally and globally, “With the launch of DTICI, we will be able to empower the
it said in a release. DTICI, which is the largest such facility of the commercial vehicles segment with cutting-edge technology
company outside Germany, will serve as the backbone for all and innovation to stay ahead of the curve,” said Thomas Ulm,
innovations and technology developments for Daimler Truck Chairman, DTICI.
globally, including Mercedes-Benz Trucks, Freightliner, Western Star, The engineering team at the centre, according to the company,
Thomas Built Buses, Fuso, Bharat Benz, and EvoBus GmbH, it said. will focus on a range of areas including vehicle and powertrain
Daimler Truck Holding AG (Daimler Truck) was formed as an engineering, software development for electronic control units,
independent company in December last year focusing on trucks computer-aided engineering (CAE), CAD, IT programming using
and buses, and it decided to create such a dedicated facility to complex engineering tools and methods.
create an epicentre for future innovations and leverage the talent Equipped with state-of-the-art software tools and labs, this centre
capabilities in the region, it said. will work on connectivity, cyber security, big data and advanced
DTICI will focus on research, product engineering and IT analytics, system integration and electrification topics.
capabilities to empower all business units and brands of Daimler The design team will focus on developing the best-in-class
products to redefine the interiors and exteriors of the extensive
range of trucks and buses, it said. The transportation industry is
reinventing itself to create differentiating products focused on zero
emission and software-led innovation, said Raghavendra Vaidya,
Managing Director and Chief Executive Officer, DTICI.
“DTICI will provide competitive advantage by building deep
engineering and IT capabilities to achieve zero emission and
industry-leading innovations in the area of software and electronics
for all Daimler Truck and Bus brands across the globe,” he said.

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