Algeco releases first quarter 2019 Financial Report: Solid revenue and profit performance

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Algeco releases first quarter 2019 Financial Report: Solid revenue and profit performance

May 28th 2019
  • Total revenues increased by 2.8% to €219 million and growth in underlying EBITDA before IFRS 16 of 8.0% to €48 million
  • Strong cash generation with 60% cash conversion
  • Net leverage ratio of 4.7x on a pro-forma basis with €434 million cash on balance sheet

LONDON (28 May 2019) – Algeco Investments B.V. (together with its subsidiaries, “Algeco” or the “Group”), Europe and Asia Pacific’s leading business services company specialising in modular space, today announced a solid financial performance for the first quarter of 2019.

For the three months to 31 March 2019, the Group delivered total revenues of €219 million, up 2.8% versus the prior year. Modular space leasing revenues were marginally higher with a 6.1% increase in revenue per unit offset by 4.8% fewer units on rent. Revenue per unit growth reflected a 1.9% increase in the average rental rate (ARR) and strong growth of value-added products and services (VAPS) per unit of 17.1%. The average utilisation rate was broadly flat at 79%. Sales of mainly new units increased by 23.6% to €60m.

Underlying EBITDA before IFRS 16 increased by 8.0% to €48 million. Our Europe business delivered EBITDA growth from France and Eastern, Northern and Southern Europe. Cash conversion increased by 7 percentage points to 60% as we continue to be highly disciplined in our approach to capital allocation.

Net leverage at the period end was 4.7x on a pro forma basis which is down from 6.3x at 31 March 2018. A cash position of €434 million on the balance sheet provides for good financial and strategic flexibility.

Andrew Tyler, Algeco Chief Executive Officer, said: “We have delivered a solid performance in the first quarter with continued growth in both revenues and underlying EBITDA. We remain disciplined in our allocation of capital across the group and this resulted in a further improvement in our cash conversion to 60% in the quarter.”

Notes

Algeco has posted its first quarter 2019 financial report and slide presentation to accompany the first quarter 2019 financial results conference call (scheduled for Wednesday 29 May 2019 at 3.00pm GMT, 10:00 a.m. Eastern Time) at www.modulairegroup.com/investors/financial-reports.

About Modulaire Group

Modulaire Group is the world’s leading business services company specialising in modular space. We create smart spaces for people to live, work and learn. Our business is designed to help customers find the right space solution, no matter what their requirements. Modulaire Group has operations in 24 countries with approximately 250,000 modular space and portable storage units and 3,400 remote accommodations rooms. The company operates as Algeco in Europe, Elliott in the United Kingdom, BUKO Huisvesting, BUKO Bouw & Winkels and BUKO Bouwsystemen in The Netherlands, Malthus Uniteam and Wexus in Norway, Ausco in Australia, Portacom in New Zealand, and Algeco Chengdong in China.

For further information

Investor relations: Phil Vellacott
investorrelations@modulairegroup.com
07841 563541

Algeco announces first quarter 2019 financial results conference call

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Algeco announces first quarter 2019 financial results conference call

May 23rd 2019

LONDON (23 May 2019) – Algeco Investments B.V. (together with its subsidiaries, “Algeco”), the leading business services company specialising in modular space, today announced that it will hold its first quarter 2019 financial results conference call on Wednesday 29 May 2019 at 3:00pm GMT (10:00 a.m., Eastern Time).

To access the call, please dial:

UK: +44 3333000804 or 08003589473 (UK toll free) US: +1 6319131422 or +1 855 85 70686 (US toll free)

and enter participant PIN code 88342031# approximately ten minutes prior to the start of the call. You will be placed on hold until the event begins.

The conference call will also be broadcast over the internet with an accompanying slide presentation. To join the web conference, go to https://event.on24.com/wcc/r/2014605-1/89F0A18118EA1F644A717B0207E9A87B. Please enter your name, email address and company to join the call. The customer service team can be reached at any time by pressing *0 on your telephone keypad.

Prior to the call, the slide presentation and first quarter 2019 financial information will be available at www.modulairegroup.com/investors/financial-reports. Following the call, a recording of the call will also be available.

About Modulaire Group

Modulaire Group is the world’s leading business services company specialising in modular space. We create smart spaces for people to live, work and learn. Our business is designed to help customers find the right space solution, no matter what their requirements. Modulaire Group has operations in 24 countries with approximately 250,000 modular space and portable storage units and 3,400 remote accommodations rooms. The company operates as Algeco in Europe, Elliott in the United Kingdom, BUKO Huisvesting, BUKO Bouw & Winkels and BUKO Bouwsystemen in The Netherlands, Malthus Uniteam and Wexus in Norway, Ausco in Australia, Portacom in New Zealand, and Algeco Chengdong in China.

For further information

Investor relations: Phil Vellacott
investorrelations@modulairegroup.com
07841 563541

Algeco releases fourth quarter 2018 financial report: Strong revenue and profit growth

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Algeco releases fourth quarter 2018 financial report: Strong revenue and profit growth

April 25th 2019
  • Total revenues increased by 12% to €954 million
  • Growth in underlying EBITDA of 26%, reflecting strong operating leverage and synergies
  • Net leverage ratio decreased from 5.3x to 4.5x on a pro-forma basis after the $820 million (€730 million) sale of Target Lodging

LONDON (25 April 2019) – Algeco Investments B.V. (together with its subsidiaries, “Algeco” or the “Group”), the world’s leading business services company specialising in modular space, today announced a strong set of financial results for 2018.

For the 12 months to 31 December 2018, the Group delivered total revenues of €954 million, up 12% versus the prior year. Revenue growth was driven by a 20% increase in the average number of units on rent which reflects the positive impact of the Touax acquisition at the end of 2017. Group utilisation rates remained solid at 81% and, encouragingly, revenue per unit from value-added products and services (VAPS) grew by 19% to €63.

Underlying EBITDA increased by 26% to €268 million with positive contributions from both our European and APAC businesses. Cash conversion increased by 22 percentage points to 53%, driven by the strong growth in EBITDA and a reduction of €14 million in net capex from improving the utilisation of the Touax fleet.

Following the period end, Algeco completed its disposal of Target Lodging for an aggregate consideration of $820 million which comprised $563 million of cash and $257 million of shares of common stock in Target Hospitality Corp. As a result, Algeco’s net leverage decreased from 5.3x to 4.5x on a pro forma basis.

Andrew Tyler, Algeco Chief Executive Officer, said: “Algeco achieved a strong performance in 2018 with solid revenue growth and a significant improvement in our profitability. Algeco is well placed to benefit from some of the emerging trends encouraging global development and infrastructure investment, demographic change, workforce welfare and sustainability. I am confident that our refreshed strategy will enable us to deliver meaningful performance improvement in the future.”

Notes

Algeco has posted its fourth quarter 2018 financial report and slide presentation to accompany the fourth quarter 2018 financial results conference call (scheduled for Thursday 25 April 2019 at 3.00pm GMT, 10:00 a.m. Eastern Time) at www.modulairegroup.com/investors/financial-reports.

About Modulaire Group

Modulaire Group is the world’s leading business services company specialising in modular space. We create smart spaces for people to live, work and learn. Our business is designed to help customers find the right space solution, no matter what their requirements. Modulaire Group has operations in 24 countries with approximately 250,000 modular space and portable storage units and 3,400 remote accommodations rooms. The company operates as Algeco in Europe, Elliott in the United Kingdom, BUKO Huisvesting, BUKO Bouw & Winkels and BUKO Bouwsystemen in The Netherlands, Malthus Uniteam and Wexus in Norway, Ausco in Australia, Portacom in New Zealand, and Algeco Chengdong in China.

For further information

Investor relations: Phil Vellacott
investorrelations@modulairegroup.com
07841 563541

Algeco announces fourth quarter 2018 financial results conference call

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Algeco announces fourth quarter 2018 financial results conference call

April 12th 2019

LONDON (12 April 2019) – Algeco Investments B.V. (together with its subsidiaries, “Algeco”), the leading business services company specialising in modular space, today announced that it will hold its fourth quarter 2018 financial results conference call on Thursday 25 April 2019 at 3:00pm GMT (10:00 a.m., Eastern Time).

To access the call, please dial: UK: +44 3333000804 or 08003589473 (UK toll free) US: +1 6319131422 or +1 855 85 70686 (US toll free) and enter participant PIN code 92675870# approximately ten minutes prior to the start of the call. You will be placed on hold until the event begins.

The conference call will also be broadcast over the internet with an accompanying slide presentation. To join the web conference, go to https://event.on24.com/wcc/r/1974053-1/C840892180F2FF4B6CB44A9C022534FC. Please enter your name, email address and company to join the call. The customer service team can be reached at any time by pressing *0 on your telephone keypad.

Prior to the call, the slide presentation and fourth quarter 2018 financial information will be available at www.modulairegroup.com/investors/financial-reports. Following the call, a recording of the call will also be available.

About Modulaire Group

Modulaire Group is the world’s leading business services company specialising in modular space. We create smart spaces for people to live, work and learn. Our business is designed to help customers find the right space solution, no matter what their requirements. Modulaire Group has operations in 24 countries with approximately 250,000 modular space and portable storage units and 3,400 remote accommodations rooms. The company operates as Algeco in Europe, Elliott in the United Kingdom, BUKO Huisvesting, BUKO Bouw & Winkels and BUKO Bouwsystemen in The Netherlands, Malthus Uniteam and Wexus in Norway, Ausco in Australia, Portacom in New Zealand, and Algeco Chengdong in China.

For further information

Investor relations: Phil Vellacott
investorrelations@modulairegroup.com
07841 563541

Algeco announces completion of Target Lodging disposal

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Algeco announces completion of Target Lodging disposal

March 15th 2019

LONDON (15 March 2019) – Algeco Investments B.V. (together with its subsidiaries, “Algeco”), the leading global business services provider of modular space, secure portable storage solutions and remote workforce accommodations, today announced the completion of the disposal of its North American remote accommodations business, Target Lodging, to Target Lodging Holdings Corp., a newly-formed subsidiary of Platinum Eagle Acquisition Corp (“Platinum Eagle”). Upon completion Platinum Eagle changed its name to Target Hospitality Corp. and will continue trading on the Nasdaq Stock Market. The $820 million of proceeds received by Algeco in relation to the disposal comprised $563 million of cash (“Cash Consideration”) and $257 million of shares of common stock in Target Hospitality Corp. Algeco has used $92 million of the Cash Consideration to repay certain amounts outstanding under the facilities provided pursuant to the ABL Credit Agreement and will use $30 million to repay certain factoring obligations. Upon today’s completion of the Target Lodging disposal, the previously announced amendment of Algeco’s ABL Credit Agreement has become effective.

Andrew Tyler, Chief Executive of Algeco: “We are delighted to have completed the sale of Target Lodging. This disposal delivers significant value for Algeco and materially simplifies the Group enabling us to focus fully on our core operations in Europe and Asia Pacific. The cash proceeds provide us with enhanced financial flexibility as we continue to execute against our strategy.”

Cautionary Notice Regarding Forward Looking Statements

This press release includes forward-looking statements within the meaning of the securities laws of certain applicable jurisdictions, which reflect Modulaire Group's expectations regarding its future operational and financial performance. By their nature, the forward-looking events described in this press release may not be accurate or occur at all. Accordingly, you should not place undue reliance on these forward-looking statements, which speak only as of the date on which the statements were made. Although any forward-looking statements contained in this press release reflect management's current beliefs based upon information currently available to management and upon assumptions which management believes to be reasonable, actual results may differ materially from those stated in or implied by these forward-looking statements. A number of factors could cause actual results, performance or achievements to differ materially from the results expressed or implied in any forward-looking statements. These factors should be considered carefully and readers should not place undue reliance on any forward-looking statements. Except as required by law, we undertake no obligation, and specifically decline any obligation, to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

About Modulaire Group

Modulaire Group is the world’s leading business services company specialising in modular space. We create smart spaces for people to live, work and learn. Our business is designed to help customers find the right space solution, no matter what their requirements. Modulaire Group has operations in 24 countries with approximately 250,000 modular space and portable storage units and 3,400 remote accommodations rooms. The company operates as Algeco in Europe, Elliott in the United Kingdom, BUKO Huisvesting, BUKO Bouw & Winkels and BUKO Bouwsystemen in The Netherlands, Malthus Uniteam and Wexus in Norway, Ausco in Australia, Portacom in New Zealand, and Algeco Chengdong in China.

For further information

Investor relations: Phil Vellacott
investorrelations@modulairegroup.com
07841 563541

New consortium launched to pioneer greater use of offsite construction for primary schools

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New consortium launched to pioneer greater use of offsite construction for primary schools

March 12th 2019

A new consortium has been launched to transform the way primary schools are designed and built. This is managed by construction consultants Blacc and is funded by Innovate UK, the public body established to drive productivity and economic growth through innovation.

The other partners in the Seismic consortium are technology-led design practice Bryden Wood, the Manufacturing Technology Centre (MTC), and two of the UK’s leading offsite specialists, Elliott and The McAvoy Group.

Around 100 new and replacement primary schools are needed every year in the UK at a cost of £5bn. This level of demand far exceeds the capacity currently available in the construction industry. The challenge is compounded by the general inefficiency of the construction sector compared to UK manufacturing. Every primary school construction project has a bespoke design, is procured individually and is delivered by a fragmented supply chain. This process leads to varying levels of quality, low productivity and increased risk of time and budget overruns.

The new consortium has been established to carry out extensive research and development to engineer a range of standardised offsite solutions which will radically increase productivity and efficiency, drive down costs and reduce lead times in the delivery of exemplary primary schools.

Commenting on the partnership’s vision, Richard Crosby, Director of Blacc, said “By applying greater use of standardisation, our aim is to develop a series of components to enable multiple offsite specialists to achieve unprecedented economies of scale and efficiency in manufacturing. This will bring a higher degree of stability, predictability and transparency to the procurement process – to the benefit of both the client and the supply chain. It represents a window into a brave new world for UK construction.”

One of the solutions currently in development is the creation of a pioneering digital tool to accelerate the initial design phase for new primary schools. This user-friendly web-based app, which can be used by teaching professionals, will configure a primary school building on a specific site in line with DfE requirements, and using a standardised offsite solution to optimise efficiency. This will significantly reduce the time and cost of the initial feasibility and design phase and will facilitate the input of stakeholders.

“By digitising the process of designing a primary school, we believe we can deliver significant reductions in lead times and build costs whilst accommodating individual design requirements”, said Jami Cresser-Brown, Director of Bryden Wood. “With the use of a digital tool, more time can actually be spent on the bespoke elements of the design of each school.”

The Seismic project will also look at how standardised module sizes and steel-framed offsite solutions can be developed, costed and manufactured to achieve greater economies of scale and cost efficiencies for the construction of new primary schools.

Susan Hone-Brookes, Chief Engineer for Construction and Infrastructure at the MTC said, “This project will not only standardise different, market-leading offsite solutions for primary school construction, but it will act as a trailblazer to demonstrate the very latest offsite manufacturing technologies.”

David Clark, Head of Manufacturing and Innovation at The McAvoy Group, said, “This is a truly unique partnership of visionary organisations who are demonstrating the highest level of collaboration, trust and transparency. It is fantastic to be a part of such a ground-breaking project which we think will be a catalyst for revolutionising not just school design, procurement and delivery but the wider construction industry. There is also huge potential to take the best of UK manufacturing and apply that to offsite construction to realise even greater cost and programme efficiencies – with no compromise on design – to the benefit of the communities we serve.”

James Cowell, Technical Director of Elliott, said, “This is a tremendous opportunity to take offsite to the next level whilst developing even more innovative solutions to meet the rising demand for primary school places. There are clear productivity issues across construction and offsite manufacture is a proven method of addressing that, as well as issues such as cost control, skills shortages, sub-standard quality and long lead times. There is also the potential going forward to explore the standardisation of other design elements of a building, such as M&E, and how we could remove the need for many of the costly and time-intensive processes traditionally carried out on site.” 

The Project Partners

Blacc
Through project leadership and construction management, Blacc seeks to be the agent for change in a rapidly-changing construction landscape. Project leadership allows Blacc to harness the depth of experience of its leadership team to provide clients with strategic project and programme management. Construction management – putting the client at the heart of a project through paying contractors directly, releases funds more readily to flow through the supply chain. This approach, which removes the main contractor, is key to changing the way of thinking in the industry. The market is demanding change, and Blacc is helping to achieve this through thought leadership, drawing inspiration from other sectors and challenging enshrined practices and thinking.

Manufacturing Technology Centre (MTC)
The MTC was established to provide innovative manufacturing processes and technologies in an agile environment in partnership with industry, academia and other institutions. The MTC houses some of the most advanced manufacturing equipment in the world, creating a high-quality environment for the development and demonstration of new technologies on an industrial scale. This creates a unique opportunity for manufacturers to develop new and innovative processes and technologies.

Bryden Wood
Bryden Wood is a technology-led design company made up of architects, analysts, software coders, engineers and industrial designers. Founded in 1995, it is the only organisation in its sector to bring together such a broad range of specialisms with a single purpose – to transform the global construction industry. Its vision is to close the gap between construction and manufacturing, and to create a highly productive, digitally-led industry. Bryden Wood is a UK leader in offsite and advanced construction techniques, and, in 2018, won a Queen's Award for Innovation.

Elliott
Elliott is a market leader in modular space and portable buildings with a wide range of products and services. It has been providing temporary and permanent building solutions to all market sectors including education, health, industry, commerce, construction, infrastructure, petrochemical, utilities, retail and events for over 55 years. Elliott provides full turnkey building solutions for customers to either hire or buy and has branches located throughout the UK. Its permanent building solutions meet all current and relevant building standards, codes of practice and legislative regulations, delivering buildings with a 60-year design life.

The McAvoy Group
The McAvoy Group is an independent, family-owned business and an established principal contractor. It has been providing bespoke offsite solutions and interim modular buildings for almost 50 years. McAvoy delivers fast-track construction projects of the highest quality and in up to half the time for the health, education, residential, commercial and infrastructure sectors, with less impact on the environment and greater assurance of completion on time and on budget. The Group is also leading the industry in its award-winning application of the latest digital technologies to offsite construction.

Algeco announces pricing of €125,000,000 senior secured notes offering

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Algeco announces pricing of €125,000,000 senior secured notes offering

November 29th 2018

LONDON (November 29, 2018) – Algeco Global S.à r.l. (“Algeco Global” and, together with its subsidiaries, the “Algeco Group” or the “Group”), today announced that it has successfully priced a notes offering by one of its subsidiaries, Algeco Global Finance plc (the “Issuer”).

The Issuer priced its offering of senior secured notes (the “Additional Notes”), which consist of (i) €85,000,000 aggregate principal amount of its 6½ senior secured fixed rate notes due 2023 at an issue price of 98.25% and (ii) €40,000,000 senior secured floating rate notes due 2023 at an issue price of 98.5% with a coupon of three-month EURIBOR plus 625 basis points per annum, reset quarterly. The Additional Notes will be issued under the indenture governing the Issuer’s 6.25% senior secured euro notes due 2023, 8% senior secured U.S. dollar notes due 2023 and senior secured floating rate notes due 2023. The offering of the Additional Notes is expected to close on December 3, 2018. There can be no assurance that the offering of the Additional Notes will be completed.

Algeco Group intends to use the proceeds of the Additional Notes to (i) repay the entire amounts outstanding under certain existing sale-leaseback agreements of the Group together with accrued and unpaid interest (€96 million), (ii) fund cash to the Group’s balance sheet for general corporate purposes (€21.9 million) and (iii) pay fees and expenses (€5 million). The actual amount of debt to be repaid and fees and expenses on the issue date of the Additional Notes may vary from these amounts and any increase in the amount of debt to be repaid or fees and expenses on the issue date will reduce the amount of cash to be funded to the Group’s balance sheet.

The Additional Notes are being offered in a private placement transaction to qualified institutional buyers in accordance with Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”), and outside the United States to non-U.S. persons in accordance with Regulation S under the Securities Act. The Additional Notes have not been registered under the Securities Act or the securities laws of any other jurisdiction and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

Cautionary Notice Regarding Forward Looking Statements

This press release contains statements reflecting assumptions, expectations, projections, intentions or beliefs about future events that are intended as “forward-looking statements,” particularly those statements concerning expectations regarding the use of proceeds from the offering. A number of risks and uncertainties could cause our actual results to differ materially from current projections, forecasts, estimates and expectations relating to us. Any or all of these forward-looking statements may turn out to be wrong. They can be affected by inaccurate assumptions or by known or unknown risks, uncertainties and other factors, many of which are beyond our control.

Disclaimer

This press release shall not constitute a solicitation of a proxy, consent or authorization with respect to any securities and shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any states or jurisdictions in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

Important Regulatory Notice

This announcement contains information that prior to its disclosure may have constituted inside information under European Union Regulation 596/2014 on market abuse.

About Modulaire Group

Modulaire Group is the world’s leading business services company specialising in modular space. We create smart spaces for people to live, work and learn. Our business is designed to help customers find the right space solution, no matter what their requirements. Modulaire Group has operations in 24 countries with approximately 250,000 modular space and portable storage units and 3,400 remote accommodations rooms. The company operates as Algeco in Europe, Elliott in the United Kingdom, BUKO Huisvesting, BUKO Bouw & Winkels and BUKO Bouwsystemen in The Netherlands, Malthus Uniteam and Wexus in Norway, Ausco in Australia, Portacom in New Zealand, and Algeco Chengdong in China.

For further information

Investor relations: Phil Vellacott
investorrelations@modulairegroup.com
07841 563541

Algeco announces launch of €125,000,000 senior secured notes offering

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Algeco announces launch of €125,000,000 senior secured notes offering

November 27th 2018

LONDON (November 27, 2018) – Algeco Global S.à r.l. (“Algeco Global” and, together with its subsidiaries, the “Algeco Group” or the “Group”), today announced that one of its subsidiaries, Algeco Global Finance plc (the “Issuer”), is launching an offering of €125,000,000 aggregate principal amount of senior secured notes due 2023, consisting of €100,000,000 euro-denominated 6½ senior secured fixed rate notes due 2023 and €25,000,000 senior secured floating rate notes due 2023 (the “Notes”). The Notes will be issued under the indenture (the “Indenture”) governing the Issuer’s outstanding euro-denominated 6½ senior secured fixed rate notes due 2023 and euro-denominated senior secured floating rate notes due 2023 (the “Existing Notes”), and will form a single series with the Existing Notes for all purposes under the Indenture, including, without limitation, waivers, amendments, redemptions and offers to purchase. It is expected that the Notes will have the same ISIN and common code as the Existing Notes, provided that the Notes sold pursuant to Regulation S under the Securities Act of 1933, as amended (the “Securities Act”) will initially be issued bearing a temporary ISIN and common code.

Algeco Group intends to use the proceeds of the Notes to (i) repay the entire amounts outstanding under certain existing sale-leaseback agreements of the Group together with accrued and unpaid interest (€96 million), (ii) fund cash to the Group’s balance sheet for general corporate purposes (€24 million) and (iii) pay fees and expenses (€5 million). The actual amount of debt to be repaid and fees and expenses on the issue date of the Notes may vary from these amounts and any increase in the amount of debt to be repaid or fees and expenses on the issue date will reduce the amount of cash to be funded to the Group’s balance sheet. The Notes are being offered in a private placement transaction to qualified institutional buyers in accordance with Rule 144A under the Securities Act, and outside the United States to non-U.S. persons in accordance with Regulation S under the Securities Act. The Notes have not been registered under the Securities Act or the securities laws of any other jurisdiction and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

Cautionary Notice Regarding Forward Looking Statements

This press release contains statements reflecting assumptions, expectations, projections, intentions or beliefs about future events that are intended as “forward-looking statements,” particularly those statements concerning expectations regarding the use of proceeds from the offering. A number of risks and uncertainties could cause our actual results to differ materially from current projections, forecasts, estimates and expectations relating to us. Any or all of these forward-looking statements may turn out to be wrong. They can be affected by inaccurate assumptions or by known or unknown risks, uncertainties and other factors, many of which are beyond our control.

Disclaimer

This press release shall not constitute a solicitation of a proxy, consent or authorization with respect to any securities and shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any states or jurisdictions in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

Important Regulatory Notice

This announcement contains information that prior to its disclosure may have constituted inside information under European Union Regulation 596/2014 on market abuse.

About Modulaire Group

Modulaire Group is the world’s leading business services company specialising in modular space. We create smart spaces for people to live, work and learn. Our business is designed to help customers find the right space solution, no matter what their requirements. Modulaire Group has operations in 24 countries with approximately 250,000 modular space and portable storage units and 3,400 remote accommodations rooms. The company operates as Algeco in Europe, Elliott in the United Kingdom, BUKO Huisvesting, BUKO Bouw & Winkels and BUKO Bouwsystemen in The Netherlands, Malthus Uniteam and Wexus in Norway, Ausco in Australia, Portacom in New Zealand, and Algeco Chengdong in China.

For further information

Investor relations: Phil Vellacott
investorrelations@modulairegroup.com
07841 563541

Algeco releases third quarter 2018 financial report

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Algeco releases third quarter 2018 financial report

November 26th 2018

LONDON (26 November 2018) – Algeco Investments B.V. (together with its subsidiaries, “Algeco”), the leading global business services provider of modular space, secure portable storage solutions and remote workforce accommodations, today announced that it has posted its third quarter 2018 financial report and the slide presentation to accompany the previously announced third quarter 2018 financial results conference call (scheduled for Monday 26 November 2018 at 3:00pm GMT, 10:00 a.m. Eastern Time) at www.modulairegroup.com/investors/financial-reports.

About Modulaire Group

Modulaire Group is the world’s leading business services company specialising in modular space. We create smart spaces for people to live, work and learn. Our business is designed to help customers find the right space solution, no matter what their requirements. Modulaire Group has operations in 24 countries with approximately 250,000 modular space and portable storage units and 3,400 remote accommodations rooms. The company operates as Algeco in Europe, Elliott in the United Kingdom, BUKO Huisvesting, BUKO Bouw & Winkels and BUKO Bouwsystemen in The Netherlands, Malthus Uniteam and Wexus in Norway, Ausco in Australia, Portacom in New Zealand, and Algeco Chengdong in China.

For further information

Investor relations: Phil Vellacott
investorrelations@modulairegroup.com
07841 563541

Algeco announces third quarter 2018 financial results conference call

News

Algeco announces third quarter 2018 financial results conference call

November 19th 2018

LONDON (19 November 2018) – Algeco Investments B.V. (together with its subsidiaries, “Algeco”), the leading global business services provider of modular space, secure portable storage solutions and remote workforce accommodations, today announced that it will hold its third quarter 2018 financial results conference call on Monday 26 November 2018 at 3:00pm GMT (10:00 a.m., Eastern Time). To access the call, please dial:

UK: +44 3333000804 or 08003589473 (UK toll free)

US: +1 6319131422 or +1 855 85 70686 (US toll free)

and enter participant PIN code 84969282# approximately ten minutes prior to the start of the call. You will be placed on hold until the event begins. The conference call will also be broadcast over the internet with an accompanying slide presentation. To join the web conference, go to https://event.on24.com/wcc/r/1884864/AA4F091A2F921FE451DDBD688F19B26F. Please enter your name, email address and company to join the call. The customer service team can be reached at any time by pressing *0 on your telephone keypad.

Prior to the call, the slide presentation and third quarter 2018 financial information will be available at www.modulairegroup.com/investors/financial-reports. Following the call, a recording of the call will also be available.

About Modulaire Group

Modulaire Group is the world’s leading business services company specialising in modular space. We create smart spaces for people to live, work and learn. Our business is designed to help customers find the right space solution, no matter what their requirements. Modulaire Group has operations in 24 countries with approximately 250,000 modular space and portable storage units and 3,400 remote accommodations rooms. The company operates as Algeco in Europe, Elliott in the United Kingdom, BUKO Huisvesting, BUKO Bouw & Winkels and BUKO Bouwsystemen in The Netherlands, Malthus Uniteam and Wexus in Norway, Ausco in Australia, Portacom in New Zealand, and Algeco Chengdong in China.

For further information

Investor relations: Phil Vellacott
investorrelations@modulairegroup.com
07841 563541

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