Ashtead Group PLC Q4 2022 Earnings Presentation Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Andrew J. Wilson - JPMorgan Chase & Co, Research Division - Analyst : I've got three, if I can take more time because they are quite different. Can you give us any indications in terms of at the run rate what you have seen in May and to the extend you prepared to I mean to June? just trying to get a sense of that.

Question: Andrew J. Wilson - JPMorgan Chase & Co, Research Division - Analyst : Well, yes, the mid-run rate, I guess your own.

Question: Andrew J. Wilson - JPMorgan Chase & Co, Research Division - Analyst : And any change through the month? .

Question: Andrew J. Wilson - JPMorgan Chase & Co, Research Division - Analyst : Through the month? So better at the start of the month, end of the month or?

Question: Andrew J. Wilson - JPMorgan Chase & Co, Research Division - Analyst : In terms of drop-through in FY '23, there's obviously quite a lot of moving parts given due to the inflation you've mentioned, and we've obviously seen in '22 and then you've got kind of [red] on them. Just trying to get a sense of kind of where the confidence -- well, I guess, any sort of help in terms of at least a number to start the year to think about? But I guess, confidence around that? Because it feels as if drop-through obviously became REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. JUNE 14, 2022 / 8:30AM, AHT.L - Q4 2022 Ashtead Group PLC Earnings Presentation more challenging as we kind of went through last year, I think, off the top of my head, which is understandable given the inflation situation. But just, yes, where the confidence kind of sits on that and visibility around the moving parts?

Question: Andrew J. Wilson - JPMorgan Chase & Co, Research Division - Analyst : And maybe this sort of feels a bit, in fact, given the backdrop that people are at least talking to, if not necessarily you're seeing in the indicators. But when you think about capital allocation, if you take being at the bottom end of the target range to where the share price is as diverse as where it's been, if you think about your optimism on the markets versus what seems to be getting price in, I would argue in the shares, how do you think about further buybacks? Obviously, you have the program but you could definitely expand that program. And it feels like this might be an interesting opportunity. So I'm just at least interested in your thinking.