The operational review for the 2009 financial year shows a strong financial position with excellent growth achieved over the last 6 years.

Strong financial position

Notes:

Adjusted EBITDA – Earnings before Interest, Tax, Depreciation and Amortization adjusted for significant items
Adjusted EBITA – Earnings before Interest, Tax, and Amortization for significant items
Constant Currency – Based on 2007 average exchange rates
CAGR – Compounded Annual Growth Rate
Adjusted Net Assets Managed consist of Operating Assets less operating liabilities
Operating Assetsconsists of Equipment for hire, Property plant and equipment (excluding deferred tax assets, Goodwill, Intangible assets and Investments) and Current assets (excluding Cash) Operating liabilities consists of Trade and other payables, Provisions excluding taxation payable, short term borrowing and over draft.
Operating liabilities consists of Trade and other payables, Provisions excluding taxation payable, short term borrowing and over draft.
Return on net assets managed (RONAM) –Adjusted EBITA as a % of Average adjusted net assets managed