third quarter 2016 investor conference call · q3 2016 investor call 2 safe harbor ... any...

Third Quarter 2016Investor Conference Call

DRAFT 5

November 17, 2016

Q3 2016 Investor Call 2

Safe HarborBasis of PresentationUnless otherwise noted or unless the context otherwise requires, all references to “we,” “us,” “our,” “AS,” the “Group” and the “Company” refer to Algeco Scotsman Global S.à r.l., a limited liability company incorporated under the laws of Luxembourg, together with its subsidiaries. As used in this presentation, “Americas” means the United States, Canada, Mexico, and, where the context requires, Brazil, and “Asia Pacific” means Australia, New Zealand, and China. Unless otherwise noted or unless the context otherwise requires, all amounts are presented in U.S. dollars (“US$”).

Use of Non-GAAP Financial MeasuresThis presentation includes certain financial measures not calculated and presented in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”), including, but not limited to, EBITDA, Adjusted EBITDA, Adjusted Gross Profit, and certain ratios and other metrics derived therefrom. These non-GAAP financial measures are not measures of financial performance in accordance with GAAP and may exclude items that are significant in understanding and assessing our financial condition and results. Therefore, these measures should not be considered in isolation or as alternatives to net income, cash flow from operations or other measures of profitability, liquidity or performance under GAAP. These measures may not be comparable to similarly-titled measures used by other companies. A reconciliation of each non-GAAP financial measure to the most comparable GAAP financial measure is included in an appendix to this presentation.

Use of Constant Currency ResultsWe believe that currency exchange rates are an important factor in understanding period-to-period comparisons of our financial results. Accordingly, we present financial results on a constant currency basis in addition to our reported actual currency results. Constant currency information compares results between periods as if exchange rates had remained constant period-over-period. Unless stated otherwise, in this presentation, we calculate constant currency results by calculating current-year results using prior-year currency exchange rates. We generally refer to such amounts as excluding or adjusting for the impact of foreign currency or being on a constant currency basis. These constant currency results should be considered in addition to, as opposed to as a substitute for, our actual currency results. Constant currency results, as we present them, may not be comparable to similarly titled measures used by other companies and are not measures of performance presented in accordance with GAAP.


Safe HarborForward-Looking StatementsThis presentation contains forward-looking statements, which reflect industry outlook, our expectations regarding our future growth, results of operations, operational and financial performance, liquidity and capital resources, capital expenditures and investments, strategic transactions, business prospects and opportunities, challenges and future events. All statements other than statements of historical fact are forward-looking statements. Words such as, but not limited to, “anticipate,” “continue,” “estimate,” “expect,” “may,” “might,” “will,” “project,” “should,” “would,” “believe,” “intend,” “continue,” “could,” “plan,” “predict,” and negatives of these words and similar expressions are intended to identify forward-looking statements. In particular, statements about our expectations, beliefs, plans, objectives, assumptions or future events or performance contained in this presentation are forward-looking statements. Although the forward-looking statements contained in this presentation reflect management’s current beliefs based upon information currently available to management and upon assumptions which management believes to be reasonable, actual results or events may differ materially from those stated in or implied by these forward-looking statements.

A number of factors could cause actual results, performance, events or achievements to differ materially from the results expressed or implied in the forward-looking statements. Readers should not place undue reliance on the forward-looking statements. Forward-looking statements necessarily involve significant known and unknown risks, assumptions and uncertainties that may cause our actual results, performance, events and achievements in the future periods to differ materially from those expressed or implied by such forward-looking statements. There can be no assurance that the results performance, events or achievements contemplated in the forward-looking statements will be realized.

We cannot assure you that forward-looking statements will prove to be accurate, as actual actions, results and future events could differ materially from those anticipated or implied by such statements. All future written and oral forward-looking statements attributable to us or any person acting on our behalf are expressly qualified in their entirety by the cautionary statements contained or referred to in this section. These forward-looking statements are made only as of the date of this presentation and, except as required by law, we undertake no obligation, and specifically decline any obligation, to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. This presentation should be read together with our December 31, 2015 and September 30, 2016 consolidated financial statements and the notes thereto and our managements discussion and analysis of financial condition and results of operations covering our results presented in such financial statements and the risk factors described therein.


Q3 2016 Overview

� Q3 Adjusted EBITDA of $111.3m at Constant Currency FX and $109.2m at Actual FX

� Adj. EBITDA at CC FX down ($2.1m) from Q3 2015

� Adj. EBITDA at Act FX down ($4.1m) from Q3 2015

� Europe performance continuing to improve

� U.S. Modular Space Leasing business maintaining growth trajectory

� Asia Pacific business stabilizing

� South Texas Family Residential Center lease and services agreement extended through

September 2021


Clear Global LeadershipLeading global business services provider of modular space and secure portable storage solutions

� Market leader in all major markets within our operating

regions:

� Americas - #1 / #2

� Asia Pacific (Aus/NZ) - #1

� Europe - #1 / #2

� Branch / depot locations globally: 238

� Countries with physical presence: 25

� Modular and storage fleet units: ~275,000

� Fully managed remote accommodation ~10,700

rooms:


Diverse Footprint and End Markets

� Broad geographic, end-market and

customer diversity

� The Commercial / Industrial sector

represents our strongest market,

while the contribution from the Oil &

Gas sector continues to decline

� Diverse customer base

- Approximately 64,000 customers

- Top 20 customers ~24% of

Leasing and Services revenue

� Long contract periods

- Average modular lease duration:

~26 months

Europe49%

Asia Pacific14%

Americas37%

21%

20%

10%13%

10%

17%

6% 3%

Commercial/Industrial Services/Other

Oil & Gas Manufacturing

Infrastructure/Residential Government

Education Mining

Q3 2016 Revenue Mix – Geographic Q3 2016 LTM Revenue Mix – Sector

10%

21%

3%

17%

6%

10%

13%

20%


Strategic Priorities

� Manage capital aggressively

� Invest primarily in target markets demonstrating organic growth

� In markets that have weak economies, we are constraining capital investment

Revenue

� Optimize pricing (rental rates) globally and increase the amount and percentage of

revenue contribution from value added products and services (“VAPS”)

� Increase Modular Space Leasing revenue in target markets – U.S., France, U.K., and

Germany

Profitability

Capital Discipline

� Increase utilization globally

� Continue focus on managing costs and operating efficiencies


Agenda

I) Q3 Highlights

II) Financial Results

III) Recent Events

IV) Questions & Answers


Q3 2016 Highlights

� Continued managing capital aggressively

� Q3 Gross CapEx decreased ~$9m from prior year as the company continues to

manage its liquidity conservatively

� Overall Q3 revenue down ~2% driven by lower Remote Accommodations in the

Americas and Asia Pacific, partially offset by increased Modular Space growth in the

U.S. and Europe

� Modular Space pricing globally decreased ~2% from prior year driven by energy sector

related declines in Asia Pacific and Canada

� VAPS revenue grew ~19% to ~$50m and VAPS revenue per unit grew by ~19%

Capital Discipline

� Utilization increased 380bps from prior year to 77.7% driven by increases in Australia,

U.S., France, Germany, and the U.K.

� SG&A increased $1.1m as cost reductions in the Americas and Corporate were offset by

volume related increases in Europe

� Adjusted EBITDA declined $2.1m as increases in U.S. and Europe Modular Space

Leasing were offset by lower Remote Accommodation volume and higher SG&A

Revenue

Profitability


Modular Space – Avg. Rental Rate

$217

$221

$228

$222 $222 $222

$218

$215 $213 $214 $213

$190

$200

$210

$220

$230

Q1 Q2 Q3 Q4

2014 2015 2016

Average Modular Monthly Rental Rate*

$47 $52

$57 $55 $53

$59 $63 $62 $64

$72 $75

$-

$10

$20

$30

$40

$50

$60

$70

$80

Q1 Q2 Q3 Q4

2014 2015 2016

Average Incremental VAPS Impact*

All quarters presented in US$ at Q3 2016 Reported FX Rates

* As of Q1 2016, we have reclassified a portion of Europe revenues originally included in ARR to VAPS. Historical figures have been adjusted to reflect these changes.


73.4%

74.7% 74.8%

73.5%

72.1%72.9%

73.9%

75.0%75.1%

77.0%77.7%

68%

70%

72%

74%

76%

78%

Q1 Q2 Q3 Q4

2014 2015 2016

221.7

225.1 225.2

220.4

213.4 213.7 215.4

212.1

208.0

211.7 213.5

200

205

210

215

220

225

230

Q1 Q2 Q3 Q4

2014 2015 2016

Avg. Modular Fleet Utilization % Avg. Modular UoR (# of Units)

Modular Space – Utilization (Units in 000’s)


Remote Accommodations

Average Daily Rate Average Rooms on Rent (1)

(1) (Rooms in 000’s)

5.2 4.9

5.2 5.5

5.3 5.7

6.5

5.8

4.9 4.7 4.7

0.0

1.0

2.0

3.0

4.0

5.0

6.0

7.0

Q1 Q2 Q3 Q4

2014 2015 2016

$93 $93

$98$97

$99

$108 $108

$100

$105

$107$106

$85

$90

$95

$100

$105

$110

Q1 Q2 Q3 Q4

2014 2015 2016

All quarters presented in US$ at Q3 2016 Reported FX Rates


Q3 2016 Financials (in US$ at Constant Currency)

Q3

($ in millions) 2015 2016 Y-o-Y Y-o-Y %

- Modular Space Leasing $189.4 $193.9 $4.5 2.4%

- Modular Space Delivery & Install $69.3 $71.2 $2.0 2.8%

- Remote Accommodations $64.4 $48.1 ($16.4) (25.4%)

Leasing & Services Revenue $323.0 $313.2 ($9.8) (3.0%)

- New Units $87.1 $87.6 $0.5 0.6%

- Rental Units $8.5 $8.4 ($0.0) (0.2%)

Sales Revenue $95.5 $96.0 $0.5 0.5%

Total Revenue $418.6 $409.2 ($9.3) (2.2%)

Adjusted Gross Profit (1) $198.7 $197.7 ($1.0) (0.5%)

Adjusted Gross Profit % (1) 47.5% 48.3% 90bps

SG&A (2) $85.3 $86.4 ($1.1) (1.3%)

Adjusted EBITDA $113.3 $111.3 ($2.1) (1.8%)

Adjusted EBITDA % 27.1% 27.2% 10bps

(1) Excludes depreciation on rental equipment(2) Excludes sponsor fees and other non-recurring items

� Leasing & Services revenue was down

$9.8m due to decreased Remote

Accommodations in the U.S. and Asia-

Pacific, partially offset by higher Modular

Space in Europe and the U.S.

� New Units Sales increase of $0.5m driven

by higher volumes in Asia Pacific and

Europe, partially offset by declines in

Americas; Rental Units Sales flat

� Adjusted Gross Profit % increased 90bps

driven by improved margins in Europe

and Americas

� SG&A increased $1.1m driven by volume

related increases in Europe; partially

offset by savings in the Americas and

Corporate

� Adjusted EBITDA declined $2.1m driven

by decreased Remote Accommodations

volume in the U.S. and Asia-Pacific and

increased SG&A


Americas Overview (at Constant Currency)

Q3 2015 Q3 2016

Average Modular Units on Rent (#) 60,759 54,369

Average Modular Utilization 68% 71%

Avg. Modular Monthly Rental Rate ($) at CC 342 350

Avg. Remote Accom Rooms on Rent (#) 4,751 3,502

Avg. Remote Accom Utilization 59% 47%

Avg. Remote Accom Daily Rate ($) at CC 117 114

U.S. and Mexico Stable, Canada negatively affected by oil & gas

Revenue � Decreased Modular Space revenue ($3.2m) driven

by declines in Canada and less revenue due to the sale of Brazil; lower Remote Accommodations revenue ($12.4m)

� Continued Modular Space growth in the U.S. primarily offset by lower UoR and pricing in Canada (oil & gas driven)

� Remote Accommodations Rooms on Rent (“RoR”) decrease driven by declines in oil and gas related camps; the South Texas Family Residential was at full run-rate as of Q3 2015

Adjusted EBITDA� Decreased $6.9m driven by reduced Remote

Accommodations volume in the U.S. and lower Modular Space volume in Canada; partially offset by SG&A cost reductions

CapEx� Reduced U.S. refurbishment and new fleet

investment off elevated levels in 2015; lower oil and gas related spend

(US$ in millions)

173.9 150.5

$0

$100

$200

Q3 2015 Q3 2016

Revenue

61.2 54.3

$0

$35

$70

Q3 2015 Q3 2016

Adjusted EBITDA

47.5

19.1

$0

$30

$60

Q3 2015 Q3 2016

CapEx


U.S. - Modular Space Leasing Revenue(US$ in millions)

Y-o-Y ChangePer Quarter: +$3.1m +$1.6m +$2.7m +$3.7m

$53.4$55.6

$57.3$59.1$58.9

$61.0 $61.2$62.8$62.0 $62.6 $63.9

$0

$10

$20

$30

$40

$50

$60

$70

Q1 Q2 Q3 Q4

2014 2015 2016


Europe Overview (at Constant Currency)

Q3 2015 Q3 2016




(US$ in millions)Economic conditions stable

Revenue� Leasing & Services revenue increased

$4.6m driven by asylum seeker related UoRand rate growth in Germany, and higher VAPS volume across Europe

� Sales revenue increased $0.7m due to higher New Unit Sales volume in Germany

Adjusted EBITDA� Adjusted EBITDA up $7.0m driven by higher

Leasing & Services volume and margins, and increased New Unit Sales; partially offset by volume related SG&A increases

CapEx� Increased investment driven by asylum and

commercial related spend in Germany, and continued investment in France and the U.K.; reduced levels of spend in the remaining countries

25.1

43.3

$0

$25

$50

Q3 2015 Q3 2016

CapEx

194.6 199.9

$0

$110

$220

Q3 2015 Q3 2016

Revenue

49.7 56.7

$0

$35

$70

Q3 2015 Q3 2016

Adjusted EBITDA


Europe Asylum Seeker Housing

� Public support and appropriations for open borders are

declining, and as a result, demand for asylum seeker

housing is declining as well.

� Future demand is expected to be mostly for infrastructure

� Current asylum seeker housing activity:

2016

YE 2015H1

Growth6-30

Q3Growth

9-30Expected

Q4

Units on Rent

~3,200 +1,300 ~4,500 +250 ~4,750 +150

Units Sold ~900 +1,400 ~2,300 +100 ~2,400 +800


Asia Pacific Overview (at Constant Currency)

Q3 2015 Q3 2016




Avg. Remote Accom Rooms on Rent (#) 1,738 1,175

Avg. Remote Accom Utilization 57% 39%

Avg. Remote Accom Daily Rate ($) at CC 79 80

Energy and natural resources sector remains slow, but diversification in other sectors helping to stabilize business

Revenue� Leasing & Services revenue increased $1.2m

driven by higher Modular Space Delivery and Installation Revenue ($6.2m); partially offset by lower Modular Space Leasing ($1.0) and Remote Accommodations ($4.0m)

� Sales revenue increased $6.9m driven by higher New Units Sales volume ($6.7m) in Australia, New Zealand, and China

Adjusted EBITDA � Declined ($4.0m) primarily driven by lower

Leasing & Services (decreased Remote Accommodations volume and Modular Space Leasing rental rates) and higher SG&A; partially offset by increased New Sales volume

CapEx� Continued reduced levels of CapEx in Asia

Pacific due to weak market conditions

50.6 59.0

$0

$40

$80

Q3 2015 Q3 2016

Revenue

9.5

5.5

$0

$10

$20

Q3 2015 Q3 2016

Adjusted EBITDA

1.63.6

$0

$5

$10

Q3 2015 Q3 2016

CapEx

(US$ in millions)


Disciplined Capital Management – Q3

Capital Expenditure by Region

(8.5) (8.4)

25.1

43.3

47.519.1

1.6

3.6

1.0

0.0Corporate

Asia Pacific

Americas

Europe

Global proceedsfrom Used UnitSales

Net CapEx: $ 66.7m

Gross CapEx: $ 75.2m Net CapEx: $ 57.6m

Gross CapEx: $ 66.0m

� Gross CapEx down ~$9m or ~12%, driven by

the following;

� Reduced oil and gas related investment

� Lower U.S. refurbishment and new fleet investment off elevated levels in 2015

� Increased asylum and commercial related investment in Germany, and continued investment in France and the U.K.

� Capital investments are supported by long term

customer contracts

Gross CapEx:

Net

Net

Q3 2015 Q3 2016

(US$ in millions at Constant Currency)


Net Debt Structure

Net LeverageRatio

Cash and Cash Equivalents $ (82)

Asset Based Loan Revolver (ABL) (L+250) 873

Other Debt, including Capital Leases 111

Senior Secured Notes (8.5/9.0%) 1,384

Total Net Senior Secured Debt 2,286 5.4x

Senior Unsecured Notes (10.75%) 745 1.7x

Total Net Debt $ 3,031 7.1x

LTM 9/30/16 Adjusted EBITDA $ 427

Adjusted EBITDA / Interest Expense 1.8x

• ABL availability as of September 30, 2016 was approximately $74m after consideration of the 90% covenant threshold, but would have been approximately $194m without consideration of the 90% covenant threshold

• Annual cash interest expense of approximately $240m

As of September 30, 2016(US$ in millions at Reported Currency)


ABL Borrowing Base(US$ in millions at Reported Currency)

59% 62% 63%

59% 62% 63%

� ABL borrowing base contains certain

assets of the U.S., Canada, U.K.,

Australia, and New Zealand

� ABL advance rates are assessed semi-

annually; remain relatively stable in key

jurisdictions

� Decline from December 2015 to

September 2016 primarily driven by FX

� Continued investment in the U.S.

offsetting reduced investment in

Australia and Canada

65%66% 66% 68% 67%

$1,123 $1,112 $1,089 $1,091

$0

$200

$400

$600

$800

$1,000

$1,200

Dec 31 2015 Mar 31 2016 Jun 30 2016 Sep 30 2016

U.S. Non-U.S.


South Texas Family Residential Center

� Algeco Scotsman previously announced that it has agreed to modify its Lease and Services Agreement with

Corrections Corporation of America (“CCA”) regarding the South Texas Family Residential Center (“STFRC”)

� Algeco Scotsman will continue to sublease and provide services at the STFRC to CCA in Dilley, Texas, as it has

since 2014. The modification provides for a lower monthly payment with a new term extending five more years

through September 2021

� The STFRC is a one-of-a-kind project developed and built specifically to fit customer needs. The facility is

comprised of 423,000 sq. ft. of housing space, 6 other structures and 2,400 beds. Also on site are classrooms, a

library, chapels, an infirmary with full medical, dental, pharmaceutical and x-ray capabilities, a dining hall, offices

and an industrial laundry center


STFRC Extension – Financial Impact � The modified contract provides for a lower monthly payment with a new term extending five additional years

through September 2021

� We anticipate an impact to cash-flow as the contract was extended at a lower monthly rate; as a result, the impact

to operating cash-flow as compared to 2016 will be a reduction of ~$20m

� As of Nov 1, 2016, we expect the Deferred Revenue associated with STFRC to be ~$60 million:

� Under the original contract, the remaining ~$60m was to be amortized over 2yrs (~$30m/yr)

� Given the new contract is now 5 years, the ~$60m will be amortized over 5yrs (~$12m/yr)

� The result is ~$18m non-cash reduction to 2017 EBITDA as compared to expected FY 2016 reported results

� In summary, ~$20m cash impact and the ~$18m non-cash impact combined are expected to reduce 2017 EBITDA

by approximately ~$38m


Other Recent Events

� The Company continues to manage its working capital aggressively along with finding new sources of liquidity to

capitalize on current growth opportunities

� Europe Sale & Leaseback Agreements

� AS entered into sale and leaseback agreements with affiliates of our majority shareholder, TDR Capital

� €50m facility funded through TDR equity and an independent bank loan

� As of Sept 30th, ~€30m of the €50m facility is being utilized with ~€20m still available

� European Receivables Financing

� Closed November 2016 and replaced our previous receivables financing

� $20 million Capital Raise

� AS entered into a senior unsecured loan agreement with an affiliate of our majority shareholder, TDR Capital

� The Agreement provides for borrowings in an aggregate amount of up to $20m; all of which was drawn on October 11, 2016

� This loan was refinanced on November 16, 2016 with the issuance of $20m of SSNs to the TDR Capital affiliate; as a result, there were $1,095m and €275m of SSNs outstanding


Questions & Answers

Appendix



Foreign Exchange Exposure

Local to US$ Q3 2015 Q3 2016 % Chg

GBP 1.55 1.31 (15%)

CAD 0.76 0.77 0%

EUR 1.11 1.12 0%

AUD 0.73 0.76 4%

US$ millions EBITDA

Gross

Capex Net

GBP (2.3) 1.7 (0.6)

CAD (0.0) (0.0) (0.0)

EUR 0.1 (0.1) (0.0)

AUD 0.2 (0.1) 0.1

Other (0.1) 0.2 0.1

Total (2.1)$ 1.7$ (0.4)$

Avg. Reported FX Rates

Q3 FX Impact by Currency


Q3 Financials (in US$ at Reported Currency FX)

Q3

($ in millions) 2015 2016 Y-o-Y Y-o-Y %

- Modular Space Leasing $189.4 $188.9 ($0.5) (0.3%)

- Modular Space Delivery & Install $69.3 $69.8 $0.5 0.8%

- Remote Accommodations $64.4 $48.4 ($16.0) (24.8%)

Leasing & Services Revenue $323.0 $307.1 ($16.0) (4.9%)

- New Units $87.1 $85.5 ($1.5) (1.8%)

- Rental Units $8.5 $8.2 ($0.2) (2.7%)

Sales Revenue $95.5 $93.8 ($1.8) (1.8%)

Total Revenue $418.6 $400.9 ($17.7) (4.2%)

Adjusted Gross Profit (1) $198.7 $193.7 ($5.0) (2.5%)

Adjusted Gross Profit % (1) 47.5% 48.3% 90bps

SG&A (2) $85.3 $84.5 $0.8 1.0%

Adjusted EBITDA $113.3 $109.2 ($4.1) (3.6%)

Adjusted EBITDA % 27.1% 27.2% 10bps

(1) Excludes depreciation on rental equipment(2) Excludes sponsor fees and other non-recurring items


Quarterly Highlights (in US$ at Reported Currency FX)

($ in millions)

Revenue 1Q15 2Q15 3Q15 4Q15 FY 2015 1Q16 2Q16 3Q16

Europe 158.5 172.9 194.6 181.6 707.6 158.9 195.6 189.2

Americas 150.3 163.6 173.9 152.8 640.7 143.6 151.6 150.0

Asia Pacific 57.4 52.2 50.6 44.4 204.6 42.2 51.2 61.7

AS Total 364.8$ 386.1$ 418.6$ 378.8$ 1,548.3$ 344.3$ 398.3$ 400.9$

Adj. EBITDA 1Q15 2Q15 3Q15 4Q15 FY 2015 1Q16 2Q16 3Q16

Europe 37.3 43.0 49.7 46.4 176.4 37.2 55.9 54.5

Americas 44.9 54.3 61.2 63.9 224.2 53.1 62.8 54.2

Asia Pacific 11.3 10.2 9.5 7.3 38.3 5.0 5.5 5.7

Corporate Exp (8.1) (6.3) (7.0) (7.4) (28.8) (6.4) (5.8) (5.2)

AS Total 85.4$ 101.2$ 113.3$ 110.0$ 410.0$ 88.9$ 118.4$ 109.2$

CAPEX 1Q15 2Q15 3Q15 4Q15 FY 2015 1Q16 2Q16 3Q16

Europe 12.8 20.8 25.1 27.0 85.8 15.2 20.9 41.7

Americas 53.7 47.0 47.5 34.2 182.4 13.2 16.9 19.0

Asia Pacific 2.1 2.6 1.6 1.9 8.2 2.5 2.8 3.6

Corporate Exp 0.1 0.7 1.0 0.4 2.1 0.1 0.0 0.0

AS Total 68.7$ 71.1$ 75.2$ 63.5$ 278.6$ 30.9$ 40.7$ 64.3$


Modular Space – Avg. Rental Rate*All quarters presented in US$ at Reported FX Rates

* As of Q1 2016, we have reclassified a portion of Europe revenues originally included in ARR to VAPS, and the

resulting impact lowers ARR and increases VAPS; as a result, we have retroactively adjusted the historical

figures to reflect these changes as well – only the Europe and AS Total calculations are effected

1Q14 2Q14 3Q14 4Q14 FY 2014 1Q15 2Q15 3Q15 4Q15 FY 2015 1Q16 2Q16 3Q16

Europe 185 192 196 176 188 159 162 163 157 160 155 161 156

Americas 358 369 368 360 364 361 358 342 348 353 348 352 349

Asia Pacific 450 479 505 447 471 402 392 357 313 367 293 301 294

AS Total $252 $260 $264 $245 $256 $230 $230 $223 $217 $226 $214 $218 $213


Q3 Fleet Statistics (in US$ at Reported Currency FX)

Region 3Q15 3Q16 3Q15 3Q16

Europe 163$ 156$ N/A N/A

Americas 342$ 349$ 117$ 114$

Asia Pacific 357$ 294$ 79$ 84$

AS Total 223$ 213$ 107$ 106$

Modular Avg Monthly

Rental Rate

Remote Accom Avg

Daily Rental Rate


Reconciliation of Adjusted EBITDA(US$ in millions at Reported Currency FX)

Q3 2015 Q3 2016 FY 2015 LTM Q3 2016

Net income (loss) before taxes (169.0)$ 2.6$ (412.8)$ (196.6)$

Interest expense, net 50.1 50.7 197.8 200.4

Depreciation and amortization 69.4 60.7 263.4 236.3

EBITDA (49.5) 114.0 48.4 240.2

Currency (gains) losses, net 63.1 (2.9) 140.5 43.1

Change in fair value of contingent considerations (12.4) (4.6) (50.5) (15.9)

Loss on disposal of business 19.0 0.9 33.3 15.2

Goodwill and other impairment charges 90.2 - 211.4 121.2

Restructuring costs 2.5 0.5 11.4 5.7

Sponsor management fees 1.2 1.9 9.7 7.5

Other expense (0.7) (0.5) 5.7 9.4

Adjusted EBITDA 113.3$ 109.2$ 410.0$ 426.6$

Algeco Scotsman Adjusted EBITDA


Reconciliation of Adjusted Gross Profit(US$ in millions at Reported Currency FX)

Q3 2015 Q3 2016

Gross Profit 141.9$ 140.2$

Depreciation of Rental Equipment 56.8 53.5

Adjusted Gross Profit 198.7$ 193.7$

Algeco Scotsman Adjusted Gross Profit

DRAFT 5

Algeco Scotsman901 S. Bond Street, Suite 600, Baltimore MD 21231

www.algecoscotsman.com

third quarter 2016 investor conference call · q3 2016 investor call 2 safe harbor ... any...

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