SOURCE: Algeco Scotsman

Algeco Scotsman

November 27, 2013 14:12 ET

Algeco Scotsman Clarifies Statement Made on Third Quarter 2013 Financial Results Conference Call

BALTIMORE, MD--(Marketwired - Nov 27, 2013) - Algeco Scotsman (the "Company"), the leading global business services provider of modular space, secure portable storage solutions and remote workforce accommodations, held its third quarter 2013 financial results conference call on Friday, November 22, 2013 at 8:30 a.m., Eastern Time. During that call, a representative of the Company stated that "we're seeing a fourth quarter that we're expecting to be clearly better than last year's." This comment followed a discussion on Units on Rent and relates to the expected change in Units on Rent during the fourth quarter 2013 as compared to 2012. However, the Company understands that certain investors have interpreted this statement to have been in reference to Adjusted EBITDA. Accordingly, the Company is issuing this press release to clarify the above statement. Additionally, the Company currently expects year-over-year Adjusted EBITDA to be lower in the fourth quarter of 2013 as compared to the fourth quarter of 2012 primarily as a result of lower new sales in Australia. The Company will not be updating or revising this guidance, whether as a result of new information, future events or otherwise.

Cautionary Notice Regarding Forward Looking Statements

This press release may contain forward-looking statements, which reflect Algeco Scotsman's expectations regarding its future operational and financial performance. 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, Algeco Scotsman 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, secure portable storage solutions, and remote workforce accommodation management. Headquartered in Baltimore, Algeco Scotsman has operations in 37 countries with a modular fleet of approximately 306,000 units. The company operates as Williams Scotsman in North America, Algeco in Continental Europe, Elliott in the United Kingdom, Eurobras in Brazil, Ausco in Australia, Portacom in New Zealand and Target Logistics globally.