Aberdeen-headquartered Centurion Group, a supplier of critical rental, infrastructure and support services to the energy industries, has reported a revenue increase to $442m (£348m) for the year ended 31 December 2018, up from $323m (£254m) in the previous period.
EBITDA more than doubled to $71m (£56m), up from $34m (£27m) in the previous year.
The Group operates through three business segments: Accommodation & Modular Solutions (AMS); Drilling, Completions & Production (DCP); and Infrastructure (INF); across four key geographical markets: US Land (USL); Canada Rentals & Services (CRS); Canada Infrastructure (CIN); and Rest of the World (ROW).
In 2018, Centurion Group’s financial performance improved substantially as the Group benefitted from its increased scale and reach, strong performance in the US, alongside an improving operational backdrop in Canada and stability in the Group’s other international markets.
Fernando Assing, Chief Executive Officer, said:
“2018 was an excellent year for Centurion. We delivered strong revenue growth of over 40% with Group EBITDA more than doubling to $71m. At the same time the Group has been successful in strengthening its balance sheet while continuing to commit significant investment to support our future growth.
Our strong performance in 2018 has been led by organic growth across our three business segments, supplemented by value enhancing bolt-on acquisitions that have added new capabilities and new customers into the Group. The breadth of our equipment and service offering, combined with the expertise and focus on safety and service quality, are major competitive strengths for Centurion.
We remain focused on cross selling our global service offerings between segments, and continuing to deliver first class service at a local level, whilst at the same time integrating recent acquisitions. The Group’s wide range of capabilities, global footprint and exposure to different markets within the energy and resource industries provide a strong platform to build upon. We have started 2019 positively and expect to continue progress in the year ahead.”