Perth, Australia-based Emeco Holdings, parent company to Houston-based Emeco North America, last week posted a 44-percent year-over-year growth in EBITDA, based on a 45-percent increase in consolidated revenue for its fiscal year ended June 30. Full-year net profit was AU $74.7 million (about U.S. $61 million), which more than tripled the previous year’s total of AU $23.7 million.
The company reported revenue of AU $554.4 million (about U.S. $452.6 million), topping forecasted volume of $524.5 million.
Managing director Laurie Freedman said activity levels in Australia remained strong over the period, and that operations in Indonesia and Canada were experiencing an increase in activity. Freedman said the company would concentrate on growing its international operations in Canada, Europe, Indonesia and the United States in 2008. The company also is looking at expanding into Africa and South America.
During the fiscal year, Emeco invested $182.9 million in growth capital, $135.2 million in organic growth and $47.7 million for acquisitions. Emeco increased the size of its global fleet by 199 machines to 1013.
Freedman added that the company has targeted a $1 billion volume figure within the next four years.
Emeco North America is No. 62 on the RER 100.