Emeco on the up

EQUIPMENT rental group Emeco has improved earnings and operating margin in the December quarter.

Emeco on the up Emeco on the up Emeco on the up Emeco on the up Emeco on the up

Group operating earnings before interest, tax, depreciation and amortisation for the December quarter was an unaudited A$35.8 million, up by 15% over the September quarter.

Group operating EBITDA margin increased to 43% from 35%.

That’s despite a slight drop in revenue to $84.1 million and reduced gross utilisation of 87% and operating utilisation of 56% due to wet weather and the redeployment of fleet from some existing projects that ended during the quarter.

Emeco CEO and managing director Ian Testrow said the company had been awarded a number of new contracts recently, including one major project.

“The teams have been preparing for project start-ups, including the mobi...