Share Name Share Symbol Market Type Share ISIN Share Description
Aggreko Plc LSE:AGK London Ordinary Share GB00BK1PTB77 ORD 4 329/395P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -22.00 -3.33% 638.00 632.50 633.50 659.50 630.50 656.00 507,805 16:35:05
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Support Services 1,613.0 199.0 50.8 12.6 1,634

Aggreko PLC Growth through the transition - Net zero by 2050

17/11/2020 7:00am

UK Regulatory (RNS & others)

Aggreko (LSE:AGK)
Historical Stock Chart

From Nov 2020 to Jan 2021

Click Here for more Aggreko Charts.


RNS Number : 4966F

Aggreko PLC

17 November 2020


17 NOVEMBER 2020

 Growth through the energy transition - reaching net zero by 2050 

Note: Today we have also published a trading statement, covering the period from 1 January 2020 to 30 September 2020. This, together with details of our strategic update presentation, can be found on the Aggreko investor relations website.

Aggreko today sets out how we will evolve our business through the energy transition to be a leader in the temporary energy market we serve, while improving returns to shareholders.

Our net zero commitments

   --      By 2030 we will: 

-- Reduce the amount of diesel fuel used in customer solutions by at least 50%

-- Reduce local air quality emissions of those solutions by the same amount

-- Achieve net zero across our business operations

   --      By 2050 or sooner , Aggreko and the services we provide will be net zero 

Delivering shareholder value through the energy transition

   --      We are focused on profitable growth 

-- Revenue growth in our sectors expected to be 5 - 10% p.a. over the medium term

-- Driving high teens Group margin in the medium term

   --      We are maintaining our target of delivering mid-teens ROCE 

-- Disciplined capital investment in the range of GBP250-350 million p.a.

-- We will drive a continuous improvement in working capital performance

Chris Weston, CEO, commented:

"The world is changing and so is Aggreko. Demand for electricity will continue to grow, driven by population growth, and the climate imperative and availability of new technology is changing the way in which electricity is generated, distributed, consumed, stored and monitored, making it more complex. This means the need for flexible, reliable and integrated solutions with lower carbon and local emissions has never been greater, and our market for temporary, distributed energy is not just enduring, but growing.

"We have made stretching, but achievable commitments which puts Aggreko on a path to reduce diesel fuel in customer solutions and emissions by at least 50% over the next decade, and to become a net zero company by 2050. At the same time, we expect to drive profitable growth, building on our sector-specialism, realising new opportunities in our markets as they transition, and implementing initiatives underway to expand margins.

"The energy transition will require capital investment in our business, averaging in total between GBP250 million and GBP350 million per year, and we are well supported by our cash generation and strong balance sheet. In the medium term, profitable growth in combination with improving capital efficiency, means we have a clear path to mid-teens ROCE."

 Strategic update - Analyst and investor presentation 
        A presentation of our strategic update will be webcast for analysts 
        and investors today at 08:30am (GMT). The webcast presentation 
        will be followed by a Q&A session starting from 09:15am (GMT). 
        The link to the web-cast is accessible on our website at 
        . Presentation materials will be available on the website from 
        the start of the event. 
 Third quarter trading statement 
        Note that this morning we have also published a trading statement 
        covering the period from 1 January 2020 to 30 September 2020. 
        This is available on the Aggreko investor relations website. 
 Investors and analysts 
 Richard Foster, Aggreko plc                                    +44 7989 718 478 
 Jill Sherratt, Aggreko plc                                     +44 7814 077 690 
 Financial media 
 Andy Rivett-Carnac, Headland                                   +44 7968 997 365 
 Sophie O'Donoghue, Headland                                    +44 7798 687 042 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact or visit

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.



(END) Dow Jones Newswires

November 17, 2020 02:00 ET (07:00 GMT)

1 Year Aggreko Chart

1 Year Aggreko Chart

1 Month Aggreko Chart

1 Month Aggreko Chart
ADVFN Advertorial
Your Recent History
Register now to watch these stocks streaming on the ADVFN Monitor.

Monitor lets you view up to 110 of your favourite stocks at once and is completely free to use.

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V:gb D:20210116 03:39:43