Modulaire Group Annual Report for the period ended 31 December 2021

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May 27, 2022, 10:19 ET

- Group strategy continuing to deliver strong revenue and margin growth

LONDON, May 27, 2022 /PRNewswire/ -- Modulaire Group ("Modulaire" or "Group"), Europe and Asia Pacific's leading business services company specialising in modular services and infrastructure, is pleased to announce publication of its annual report for the period ended 31 December 2021 along with a pro-forma business review as per the FY21 trading update published on 7 February 2022.

Modulaire's continued execution against its strategy delivered another strong financial performance over the year. Through a focus on the day-to-day business performance, efficiency improvements, disciplined capital deployment, and accretive M&A, the Group continued to build momentum, delivering strong growth in revenue and both gross and EBITDA margin over the period.

On June 27 2021, Modulaire announced that its shareholders entered into an agreement to sell the Group to investment funds managed by Brookfield Business Partners L.P. The transaction successfully closed on 15 December 2021.

Mark Higson, Modulaire Group's Chief Executive Officer, said: "Our relentless focus on executing against our strategy continues to drive strong operational and financial performance. We were particularly pleased to see all geographic segments of the Organic business reporting growth in underlying EBITDA for FY21 versus FY20."

Modulaire will announce its First Quarter FY22 financial results on 14 June 2022. Management will host a conference call for investors on 15 June 2022, details of which will be available at https://www.modulairegroup.com/investors/financial-reports.

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About Modulaire Group

Modulaire is a leader in European modular services and infrastructure. We create smart spaces for people to work, learn and live. Our business is designed to help customers find the right space solution, no matter what their requirements. Modulaire has operations in 25 countries with over 290,000 modular space and portable storage units and 4,400 remote accommodations rooms. The company operates as Algeco in Europe, the United Kingdom and Scandinavia, Advanté in the United Kingdom, BUKO Huisvesting, BUKO Bouw & Winkels and BUKO Bouwsystemen in The Netherlands, Tecnifor and Locabox in Italy, Ausco in Australia, Portacom in New Zealand, and Algeco Chengdong in China.

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SOURCE Modulaire Group