Aggreko wins Brazil World Cup power contract
Monday 16 December 2013
Temporary power firm Aggreko — responsible for keeping the lights on and the cameras rolling at the last World Cup in South Africa and at the London 2012 Olympics — has been chosen by FIFA to perform the same duties across 12 different venues in Brazil.
The contract is worth up to $15 million (£9.1 million).
Closer to home, Aggreko also announced a similar contract win for Glasgow’s 2014 Commonwealth Games worth up to $10 million.
The wins came as Aggreko nudged up full-year profit forecasts to £335 million — ahead of previous consensus estimates of £331 million — on revenues of £1.57 billion.
This sent the company’s shares up more than 5 per cent to the top of the FTSE 100 leaderboard, rising 85.5p to 1601.5p.
Chief executive Rupert Soames said the World Cup contract would be carried out largely by its local business in Brazil, which employs around 700 people.
“We’re providing secured power for the floodlights, broadcasters and security. It’s extremely hard work and a technical challenge,” he said.
Aggreko will supply up to 46MW of power to the international football tournament — enough to power 100,000 homes in South America — through a 200-km network of heavy-duty electrical cable.
The company has also signed a six-month, 80MW contract in Panama, under which it will provide power as a licenced generator to the Panamanian wholesale-electricity market.
Aggreko believes that this is the first time a temporary power supplier has entered a country’s wholesale-electricity market competing with permanent generators.
Stripping out one-offs like the Olympics, the company’s revenues for 2013 will be around 3 per cent higher and trading profits flat.
Revenues will rise by 8 per cent in Europe and the Middle East this year and 7% in the Americas. However, they are set to fall by 12 per cent in the Pacific region as temporary contracts in Japan following the 2011 tsunami come to an end.
- 1 Cyclist in Russia narrowly misses being hit by car and lorry
- 2 'F*ck it, I quit': KTVA reporter Charlo Greene quits live on air in spectacular fashion
- 3 What are your fingerprint words?
- 4 Gary Lineker involved in Twitter row after presenter rubbishes claims he will be warned by BBC over foul-mouthed tweets
- 5 Pink Floyd new album: Band unveil cover art for first record in 20 years
Rihanna 'nude pictures' claims emerge on 4Chan as hacking scandal continues
Slough train station deaths: Woman and child killed after being 'pushed in front of train'
Kim Kardashian 'nude photos' leaked on 4chan weeks after Jennifer Lawrence scandal
'F*ck it, I quit': KTVA reporter Charlo Greene quits live on air in spectacular fashion
Jennifer Lawrence: Leaked 4Chan sex video branded 'fake' by users
Scotland could still declare independence – even without referendum, says Alex Salmond
Scottish referendum results: Cross-party consensus collapses amid Tory-Labour spat on the 'English question'
Hilary Mantel 'should be investigated by police' over Margaret Thatcher assassination story, says Lord Bell
Scottish independence: David Cameron is becoming the 'George Bush of Britain'
Plebgate MP Andrew Mitchell called officer a 'little s**t', claim court documents 'exposing ex-Chief Whip's 'record of abusing police'
Archbishop of Canterbury admits doubts about existence of God
iJobs Money & Business
£65000 Per Annum Benefits + bonus: Clearwater People Solutions Ltd: If you are...
£20000 - £25000 per annum + OTE £40,000: SThree: SThree are a global FTSE 250 ...
£20000 - £25000 per annum + OTE £40000: SThree: As a Recruitment Consultant, y...
£20000 - £25000 per annum + OTE £40,000: SThree: SThree Group have been well e...