2012 Annual General Meeting - ir.aggreko.comir.aggreko.com/.../agm-information-pdfs/presentation-agm-2504-2012.pdf2011 Results Bridge Revenue £m Trading Profit £m 2010 1,230 314

2012 Annual General Meeting

| 1

2

Philip Rogerson

Chairman

3

2011 Results

Financial Review

Angus Cockburn

Finance Director

4

2011 Results Pre-Exceptional Tax Credit 2011 2010 Movement

£m £m As reported Underlying

Revenue 1,396 1,230 14% 22%

Revenue excl. pass-through fuel 1,288 1,156 11%

Trading profit 341 314 8% 26%

Operating profit 345 317 9%

Net interest expense (18) (11) (85)%

Profit before tax 327 306 6%

Taxation (93) (92) (1)%

Profit after tax 234 214 9%

Dividends per share (declared) 20.79p 18.90p 10%

Diluted Earnings Per Share 87.72 79.69 10%

(1) All numbers are pre-amortisation of intangible assets arising from business combinations and pre-exceptional tax credits.

Note: Post amortisation and exceptional items: 2011 PBT £324m, PAT £260m, D-EPS 97.49p; 2010 PBT £304m, PAT

£213m, D-EPS 78.98p

5

2011 Results Post-Exceptional Tax Credit

2011 2010 Movement

£m £m As reported Underlying

Revenue 1,396 1,230 14% 22%

Revenue excl. pass-through fuel 1,288 1,156 11%

Trading profit 341 314 8% 26%

Operating profit 345 317 9%

Net interest expense (18) (11) (85)%

Profit before tax 327 306 6%

Taxation (64) (92) 31%

Profit after tax 263 214 23%

Dividends per share (declared) 20.79p 18.90p 10%

Diluted Earnings Per Share 98.83 79.69 24%

(1) All numbers are pre-amortisation of intangible assets arising from business combinations

Note: Post amortisation and exceptional items: 2011 PBT £324m, PAT £260m, D-EPS 97.49p; 2010 PBT £304m, PAT

£213m, D-EPS 78.98p

2011 Results

Bridge Revenue

£m

Trading Profit

£m

2010 1,230 314

Currency translation impact (26) (9)

2010 pass-through fuel (74) (2)

2011 pass-through fuel 108 2

Underlying growth incl events 158 36

2011 1,396 341

Headline growth 14% 8%

Constant Currency growth 16% 12%

Underlying growth in constant currency incl events 14% 12%

2010 FIFA World Cup, Asian Games & VANOC £(87)m

2011 revenue from Asian Games and London Olympics £6m

Underlying growth in constant currency excl events 22% 26%

• All numbers are pre-amortisation of intangible assets arising from business combinations.

• The underlying growth percentages include the currency impact of the major sporting events (revenue £2m, trading profit £1m) and pass-through fuel (revenue

£3m, trading profit £nil )

6

7

2011 Results

Balance Sheet

2011

£m

2010

£m

Intangible assets/goodwill 81 77

Tangible fixed assets 1,087 859

Working capital 150 117

Retirement benefit obligation (6) (3)

Derivative financial instruments (14) (10)

Provisions for taxes (52) (94)

Net borrowings (365) (132)

NET ASSETS 881 814

8

2011 Results

Financial Indicators 2011 2010

EBITDA £531m £475m

Capital investment £418m £269m

Net borrowings £365m £132m

Interest cover – EBITDA basis 28.4 times 47.1 times

Net debt to EBITDA 0.7 times 0.3 times

Effective tax rate* 28.5% 30.0%

Gearing 42% 16%

Dividend Cover (declared basis) * 4.2 times 4.2 times

Return on average capital employed ** 28.7% 33.3%

* Before amortisation of intangible assets arising from business combinations and exceptional tax credits.

** Before amortisation and excluding the net book value of intangible assets arising from business combinations (2010 restated on this basis).

9

2011 Results

Cash Flow from Operating Activities (£m) 2011 2010

Operating profit* 345 317

Depreciation & amortisation* 186 158

Changes in working capital (38) (24)

Other non-cash movements 16 17

Net cash inflow from operating activities 509 468

* Before amortisation of intangible assets arising from business combinations

2011 Results

Cash Flow Statement (£m) 2011 2010

Net cash inflow from operating activities 509 468

Net interest paid (17) (10)

Taxation paid (89) (69)

Acquisitions (14) (15)

Purchase of fixed assets (418) (269)

Proceeds from disposal of fixed assets 13 8

Dividends paid (52) (40)

Cash (outflow)/inflow in year (68) 73

Issue of shares 2 2

Purchase of own shares held under trust (10) (27)

Return of capital to shareholders (148) -

Exchange (8) (5)

Movement in net debt in year (232) 43

10

Capital Structure

• Return of 55 pence per share to shareholders completed in July 2011

– Year end net debt to EBITDA of 0.7 times

• Intention to have Net Debt to EBITDA around 1 times longer-term

– Similar to historic average

– Gives business flexibility it requires

• Priority continues to be organic growth & bolt on acquisitions

– 2011 fleet capex of £392m

– Two bolt on acquisitions completed in the15 months to 31 Dec 2011

– 19 new locations opened in 2011, including 4 acquired as part of NZ

Generator acquisition

.

11

2011 Results

Operating Review

Rupert Soames

Chief Executive

12

Another strong performance

• Highlights

• 26% underlying profit growth; £200 million paid out to owners; 55% increase in capital

investment

• Both business segments performed well; IPP revenues +25%, Local +21% underlying

• Over 1,200MW order intake in International Power Projects

• 570 MW of Gas on rent at year end across Group - +97% year-on-year

• Strong performance in North America

• Preparations for London 2012 proceeding well

• Local business expansion in new markets delivering strong revenue growth

• Acquisitions made in 2010 and 2011 fully integrated and performing well

• Lowlights

• Trading Margin and ROCE weaken in Local business (but still at attractive levels)

• Conditions in some markets remain difficult: Dubai, Qatar, Spain, Ireland

• Middle East profits impacted by a change in contract mix

• Volatility in IPP debtors

13

Underlying vs Reported Growth

2011 2010

Revenues as reported 14% 20%

Revenues underlying (1) (2) 22% 11%

Trading Profit as reported 8% 23%

Trading Profit underlying (1) (2) 26% 10%

(1) Underlying adjustments in 2011 were the Vancouver Winter Olympics ,FIFA World Cup, the Asian Games, the London Olympics, pass-through fuel and currency.

(2) Underlying adjustments in 2010 were the Vancouver Winter Olympics, FIFA World Cup, the Asian Games, 2009 53 rd week, pass-through fuel and currency.

(3) All numbers are stated pre-amortisation of intangible assets (2011: £3m pre-tax, £2m post-tax; 2010 : £2m pre-tax, £1m post-tax) arising from business

combinations.

14

Underlying* segmental performance

REVENUE TRADING PROFIT

2011

£m

2010

£m

Underlying

%

2011

£m

2010

£m

Underlying

%

Local Business 728 604 21% 120 104 15%

Trading Margin: 16.6% 17.2%

Rolling 12-month ROCE: 18.8% 20.6%

Int’nl Power Projects 554 444 25% 215 161 33%

excl pass-through fuel Trading Margin: 38.8% 36.5%


Total 1,282 1,048 22% 335 265 26%

Trading Margin: 26.2% 25.4%


* Pre-amortisation and excluding the net book value of intangible assets arising from business combinations. Also excluding revenue, trading profit and

operating assets from Vancouver Winter Olympics, FIFA World Cup, Asian Games, London Olympics, pass-through fuel and currency.

15

16

Revenue Mix (£m)

REVENUE

% OF REVENUE EXCL

PASS-THROUGH FUEL

2011 2010 Underlying*

%

2011 2010 Change

pp

Power 899 806 24% 70% 70% -

Temperature Control 116 110 8% 9% 9% -

Oil-Free Air 27 25 13% 2% 2% -

Total Rental 1,042 941 22% 81% 81% -

Service Revenue 246 215 27% 19% 19% -

Revenue excl pass-

through fuel

1,288 1,156 22% 100% 100%

Pass-through fuel 108 74 N/A

Total Revenue 1,396 1,230 22%

* excluding revenue from Vancouver Winter Olympics, FIFA World Cup , Asian Games, London Olympics, pass – through fuel and currency.

17

Local Business – North America REVENUE TRADING PROFIT*

2011

$m

2010

$m

Underlying

Change

%

2011

$m

2010

$m

Underlying

Change

%

Full year 415 380 18% 83 72 27%

Trading Margin 20.0% 19.0%

Second half 230 205 12% 55 48 14%


• Strong underlying performance: Revenue up 18%; Trading profit up 27%

• Strong base business growth across all areas; investment in oil & gas sector paying off

• Power rates back to pre recession levels, and volumes higher

• $135m 3 year investment in emissionised fleet to be completed this year

*before amortisation of intangible assets arising from business combinations; Note: Underlying excludes currency & VANOC

18

Local Business – Europe & Middle East

*before amortisation of intangible assets arising from business combinations; Note: Underlying excludes currency & London 2012 Olympics

REVENUE TRADING PROFIT*

2011

£m

2010

£m

Underlying

Change

%

2011

£m

2010

£m

Underlying

Change

%

Full year 302 262 15% 42 42 (3)%


Second half 170 137 21% 32 28 6%


• Europe revenue +12%; Middle East revenue +20%

• Unfavourable mix: Rental revenue +11%; Services (mainly low-margin fuel) +23%

• Middle East margins impacted by contract mix from power to temperature control

• Continuing to expand footprint; Turkey and Iraq newest additions. Strong growth in Russia.

• London Olympics contract expected to be worth +£40m; 200 MW of power generation and 1,200

kilometres of cable across 44 sites

19

Local Business – Aggreko International

*before amortisation of intangible assets arising from business combinations; Note: Underlying excludes currency, FIFA World Cup & Asian Games

REVENUE TRADING PROFIT*

2011

£m

2010

£m

Underlying

Change

%

2011

£m

2010

£m

Underlying

Change

%

Full year 173 188 37% 31 56 29%


Second half 95 103 44% 16 32 33%


• Very strong growth in most areas: Australia +27%, India +80%, Mexico +27%, South Africa +98%

• 16 new locations opened; including 4 acquired as part of NZ Generator acquisition

• N.Z. Generator acquisition completed in March 2011 and performing well

Acquisition of Poit Energia

• Aggreko has acquired Poit Energia for R$404m (£140m*); potential for up

to a further $60m (£21m) if 2012 performance targets are met.

• Poit has operations in Brazil, Chile, Argentina and Peru; 2011 Revenues

R$132m (£46m) and EBITDA R$44m (£15.3m)

• Business has delivered 45% compound annual growth in revenues over

last three years with strong margins

• Acquisition materially strengthens Aggreko’s position in South America

– Combined fleet of over 2,800 generators equating to around 1,300MW

– Combined workforce of around 1,300 people across 36 locations in Brazil, Chile,

Argentina, Peru, Colombia and Venezuela

– Aggregate revenues of Poit Energia and Aggreko in South America in 2011 were

R$555m (£193m)

• Fifth acquisition Aggreko has completed in the Local business in the last

four years; confident that Poit Energia like others will add value to Aggreko.

20 * Exchange rate if R$2.88:£1 used for all conversions from R$ to £

21

International Power Projects

*before amortisation of intangible assets arising from business combinations

Excluding pass-through fuel REVENUE TRADING PROFIT*

2011

$m

2010

$m

Underlying

Change

%

2011

$m

2010

$m

Underlying

Change

%

Full year 888 712 25% 344 260 33%


Second half 469 375 25% 207 143 45%


• 36 new contracts / over 1,200 MW of new work in 20 countries; 500 MW Asia, 300 MW Africa & ME, 330 MW

Latin America & 80 MW other.

• Bad debt provision H1 created £14m, H2 released £11m; debtor days of 67, 18 day drop y-o-y

• Order book 21% higher at 1/1/2012; 14 months of revenue at current run rates

• Fleet size over 4,400 MW at 1/1/2012; over 800 MW gas

• Military continues to decline, and expected to be materially lower in 2012

Outlook

We continue to believe that we will deliver

another year of good growth in 2012

22

Philip Rogerson

Chairman

| 23

Resolution 1

Report and Accounts

| 24

Report and Accounts

Resolution 1

% of Votes Cast

In Favour 99.59%

Against 0.41%

Total Votes Cast 168,460,781 62.82%

Votes Withheld 50,280 0.02%

% of issued

capital

Votes

| 25

Resolution 2

Remuneration Report

| 26

Remuneration Report

Resolution 2

% of Votes Cast

In Favour 94.62%

Against 5.38%


Votes Withheld 1,469,775 0.55%

% of issued

capital

Votes

| 27

Resolution 3

Declaration of Final Dividend

| 28

Declaration of Final Dividend

Resolution 3

% of Votes Cast

In Favour 100.00%

Against 0.00%



% of issued

capital

Votes

| 29

Resolution 4

Re-election of Mr. R C Soames

| 30

Re-election of Mr. R C Soames

Resolution 4

% of Votes Cast

In Favour 91.84%

Against 8.16%



% of issued

capital

Votes

| 31

Resolution 5

Re-election of Mr. A G Cockburn

| 32

Re-election of Mr. A G Cockburn

Resolution 5

% of Votes Cast

In Favour 94.06%

Against 5.94%



% of issued

capital

Votes

| 33

Resolution 6

Re-election of Mr. G P Walker

| 34

Re-election of Mr. G P Walker

Resolution 6

% of Votes Cast

In Favour 94.05%

Against 5.95%



% of issued

capital

Votes

| 35

Resolution 7

Re-election of Mr. W F Caplan

| 36

Re-election of Mr. W F Caplan

Resolution 7

% of Votes Cast

In Favour 94.05%

Against 5.95%



% of issued

capital

Votes

| 37

Resolution 8

Re-election of Mr. K Pandya

| 38

Re-election of Mr. K Pandya

Resolution 8

% of Votes Cast

In Favour 92.71%

Against 7.29%



% of issued

capital

Votes

| 39

Resolution 9

Re-election of Mr. D C M Hamill

| 40

Re-election of Mr. D C M Hamill

Resolution 9

% of Votes Cast

In Favour 94.73%

Against 5.27%



% of issued

capital

Votes

| 41

Resolution 10

Re-election of Mr. R J MacLeod

| 42

Re-election of Mr. R J MacLeod

Resolution 10

% of Votes Cast

In Favour 94.73%

Against 5.27%



% of issued

capital

Votes

| 43

Resolution 11

Re-election of Mr. R J King

| 44

Re-election of Mr. R J King

Resolution 11

% of Votes Cast

In Favour 94.73%

Against 5.27%



% of issued

capital

Votes

| 45

Resolution 12

Re-election of Mr. K G Hanna

| 46

Re-election of Mr. K G Hanna

Resolution 12

% of Votes Cast

In Favour 94.23%

Against 5.77%



% of issued

capital

Votes

| 47

Resolution 13

Re-appointment of Independent Auditor

| 48

Re-appointment of Independent Auditor

Resolution 13

% of Votes Cast

In Favour 99.25%

Against 0.75%



% of issued

capital

Votes

| 49

Resolution 14

Authorisation to determine the remuneration of

the Company’s Auditor

| 50

Authorisation to determine the remuneration of the

Company’s Auditor

Resolution 14

% of Votes Cast

In Favour 99.41%

Against 0.59%



% of issued

capital

Votes

| 51

Resolution 15

Authority to allot shares

| 52

Authority to allot shares

Resolution 15

% of Votes Cast

In Favour 77.26%

Against 22.74%



% of issued

capital

Votes

| 53

Resolution 16

Directors’ Fees

| 58

Increase limit for Directors’ Fees

Resolution 16

% of Votes Cast

In Favour 99.74%

Against 0.26%



% of issued

capital

Votes

| 55

Resolution 17 – Special Resolution

Disapplication of pre-emption rights

| 56

Disapplication of pre-emption rights


% of Votes Cast

In Favour 99.97%

Against 0.03%



% of issued

capital

Votes

| 57


Purchase of own shares

| 58

Purchase of own shares


% of Votes Cast

In Favour 99.81%

Against 0.19%



% of issued

capital

Votes

| 59


Notice of General Meetings

| 60

Notice of General Meetings


% of Votes Cast

In Favour 94.18%

Against 5.82%



% of issued

capital

Votes

| 61


Purchase of B Shares

| 62

Purchase of B Shares


% of Votes Cast

In Favour 99.79%

Against 0.21%



% of issued

capital

Votes

| 63

2012 Annual General Meeting

| 64

Documents

2012 Annual General Meeting - ir.aggreko.comir.aggreko.com/.../agm-information-pdfs/presentation-agm-2504-2012.pdf2011 Results Bridge Revenue £m Trading Profit £m 2010 1,230 314