Data centres almost a fifth of Aggreko business

Data centre business more than doubled for Aggreko in the first six months of this year, reaching 19% of its revenues in the period.

The power specialist reported US$362 million sales from data centre contracts, up from $160 million in the same period in 2025.

The AI-sector is now the second most important for Aggreko after utilities, which generated $450 million but is not growing at anything like the same rate (10% up in the first half).

Gas generators in Aggreko’s global fleet. (Image: Aggreko)

The company also saw big rises in building services and infrastructure (48% higher) and events (up 63%).

Total group revenues for the first half year were 28% higher at $1918 million, with growth still at 22% after stripping out the impact of acquisitions last year (Mobil in Time and Krill).

During the call with analysts following the release of the half-year results, the company responded to a question on a possible IPO in the future and said it would not offer any further guidance.

Europe and North America up

Underlying growth in North America was 36%, up to $1086 million, while in Europe revenues were up 35% at $459 million, helped by acquisitions and the Winter Olympics in Italy. Sales in the rest of the world were down 4% to $373 million.

EBITDA profit rose by 19% to $647 million.

The company also reported that it now has greater visibility or future revenues, with $6.0 billion of work secured across the next three years as of July 2026, which compares to $4.3 billion in the same month last year.

Data centre demand

In the course of the investor call, Aggreko’s CEO, Blair Illingworth, said the company was not a rental business; “we provide long-term solutions and very complex solutions. Obviously, the hire of equipment is part of that, but I wouldn’t compare us to other rental companies. And if you look at our growth and you look at our returns matrix, you’ll see that there is no comparison to a rental company.”

Illingworth also said its activity in data centres in the USA was going to come to Europe and Asia; “in terms of the data centre demand, there are people sort of flocking to that sector that have been operating in other sectors, perhaps been doing fracking in the Permian Basin, for example, and fancy the chances of doing sort of bridging power for data centres.

“So that’s sort of a new genre [of competitor], but then equally, of course, they’re vacating the Permian Basin fracking, and that leads an opportunity there. So things tend to equal themselves out.

“And the level of demand for data centres in the US, that’s very much heading towards Asia and Europe as we speak, probably with about an 18 month [timescale], something like that.”