SOURCE: Algeco Scotsman

Algeco Scotsman

December 07, 2012 12:48 ET

Algeco Scotsman Announces Third Quarter 2012 Conference Call and Preliminary Financial Results

BALTIMORE, MD--(Marketwire - Dec 7, 2012) - Algeco Scotsman (the "Company"), the leading global business services provider of modular space and secure portable storage solutions, will hold its third quarter 2012 conference call on Thursday, December 13, 2012 at 8:30 a.m., Eastern Time.

To access the call, please dial (646) 216-7221 or (866) 200-6965 and enter participant PIN code 58591199# 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://www.anywhereconference.com and enter web login reference 106278538 and the PIN code 58591199. Please enter your name and click go. The customer service team can be reached at any time by pressing *0 on your telephone keypad. Following the call, the webcast and slide presentation will be available for replay at http://www.algecoscotsman.com/en/investors.html.

During the conference call, Algeco Scotsman will discuss its third quarter 2012 financial results combined with those of Ausco Holding S.a.r.l. and its subsidiaries (collectively "Ausco"), which was contributed to Algeco Scotsman effective October 11, 2012 concurrent with the Company's debt refinancing transaction. Based on a preliminary review of its financial performance and that of Ausco, the Company expects combined revenue for the third quarter of 2012 to be between approximately EUR 392 million and approximately EUR 395 million, or an increase of approximately 10% compared to the combined financial results of the third quarter of 2011. The Company expects combined Adjusted EBITDA for the third quarter 2012 to be between approximately EUR 98 million and approximately EUR 100 million as compared to combined Adjusted EBITDA of EUR 94 million for the third quarter of 2011. Adjusted EBITDA for the last 12 months ended September 30, 2012 is expected to be between approximately EUR 384 million and approximately EUR 386 million including the effect of acquisitions. After giving effect to the October 11, 2012 debt refinancing transaction, the Company expects to report gross debt outstanding of approximately EUR 2.3 billion and Asset Based Loan Revolver borrowing availability in excess of EUR 300 million as of September 30, 2012.

The financial statements for the quarter ending September 30, 2012 are not yet available. The financial data presented above are preliminary, based upon the Company's estimates and are subject to revision based upon the Company's financial closing procedures and the completion of the Company's financial statements. Once the Company has completed its review, it may report financial results that could differ, and the differences could be material.

Cautionary Notice Regarding Forward Looking Statements

This press release contains forward-looking statements, which reflect the Company's expectations regarding its future operational and financial performance. Although the 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 the forward-looking statements. These factors should be considered carefully and readers should not place undue reliance on the forward-looking statements. Except as required by law, the Company undertakes no obligation, and specifically declines any obligation, to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

About Algeco Scotsman

Algeco Scotsman is a leading global business services provider focused on modular space and secure portable storage solutions. Operating as Williams Scotsman in North America, Algeco in Continental Europe, Elliott in the United Kingdom, Eurobras in Brazil, Ausco in Australia, and Portacom in New Zealand, the company manages a fleet of more than 335,000 units, with operations in 37 countries including Australia, Austria, Belgium, Brazil, Canada, China, Czech Republic, Finland, France, Germany, Hungary, Italy, Lithuania, Luxembourg, Mexico, Netherlands, New Zealand, Poland, Portugal, Romania, Russia, Slovakia, Slovenia, Spain, Sweden, Switzerland, Ukraine, United Arab Emirates, United Kingdom, and United States.