Trading Statement

20 June 2011

Aggreko plc

TRADING UPDATE

Aggreko plc, the world leader in the supply of temporary power and temperature control, is giving the following update on trading prior to entering its close period in respect of the half-year ending 30 June 2011. Interim results will be announced on Thursday, 25 August 2011.

Trading Update

The rate of underlying growth seen in the first quarter has accelerated in the second quarter, and the Group expects to deliver a strong underlying performance in the first half as a whole. We now anticipate that, in the first half, Group revenue in constant currency and excluding pass-through fuel will be about 9% higher than 2010. Trading profit is expected to be similar to 2010, representing 20% growth in revenue and 17% growth in trading profit on an underlying basis (i.e. in constant currency and excluding revenues from pass-through fuel and major events held in 2010 (Vancouver Winter Olympics, FIFA World Cup and Asian Games)).

International Power Projects

The rate of year-on-year revenue growth in the second quarter is accelerating as we bring on-line projects we signed at the end of last year and early in 2011. Revenue in the first half of 2011 in constant currency and excluding pass-through fuel is expected to be around 22% higher than in 2010. With low levels of off-hires and strong order intake, we expect to increase our capacity on hire by at least 600 MW during the first half. The year-on-year growth in MW on hire has accelerated from 14% at the start of the year, and is likely to be around 25% at the start of the second half; order intake for the first half will be at least 530 MW. Trading margin, excluding pass-through fuel, will be at a similar level to that achieved in the first half of last year.

Local Businesses

We anticipate that Local business revenues in the first half will be broadly similar to 2010 in constant currency, but will grow by around 17% on an underlying basis (i.e. in constant currency and excluding the revenues generated from the major events noted above). On the same basis, our North American business continues to perform well and we expect underlying revenues to grow by around 24%; the Europe and the Middle East business will grow by around 7%; and the Aggreko International Local business is expected to grow by around 29%, with most countries growing strongly year on year. We opened new locations in the first half in Lima, New Delhi and Durban as well as completing the acquisition of NZ Generators Limited, which has performed very well so far. We expect trading margin in the first half in the Local business to be at similar levels to last year on an underlying basis.

Outlook

We are encouraged by the strong performance of the Local business in the first half, but, as is always the case, the outcome for the year as a whole will be heavily dependent on trading during the peak summer season. Our International Power Projects business has good momentum and we expect that the rate of year-on-year growth in MW on rent in the second half will exceed that seen in the first half. In light of this and a healthy pipeline of enquiries we have decided to raise the rate of fleet investment by a further £30 million, in addition to the £70 million increase announced in April, taking our forecast fleet capital expenditure for the year to around £420 million.

We now believe that the rate of growth in underlying profits for the year as a whole will be a little higher than the 20% underlying Trading Profit growth that we expected at the time of our Interim Management Statement on 27th April 2011. We reiterate our previous guidance for headline Trading Profit for the year to be slightly ahead of 2010, as the further strengthening of underlying profits will be offset by the weakness of the US Dollar, which affects the translation into sterling of the profits of our International Power Projects and North American businesses.

- ENDS -

Enquiries to:

Rupert Soames / Angus Cockburn

Aggreko plc

Tel: 0141 225 5900

Neil Bennett / Brian Cattell

Maitland 

Tel: 020 7379 5151