EXHIBIT 99.1

 
FOR IMMEDIATE RELEASE
 
 
GENERAL FINANCE CORPORATION REPORTS FOURTH QUARTER AND FULL YEAR RESULTS FOR FISCAL YEAR 2015


PASADENA, CA – September 8, 2015 – General Finance Corporation (NASDAQ: GFN), a leading specialty rental services company offering portable storage, modular space and liquid containment solutions in North America and in the Asia-Pacific region of Australia and New Zealand (the “Company”), today announced its consolidated financial results for the fourth quarter and full year ended June 30, 2015.

Fourth Quarter 2015 Highlights
Total revenues were $65.3 million, compared to $90.1 million for the fourth quarter of fiscal year 2014.
Leasing revenues comprised 64% of total non-manufacturing revenues versus 61% for the fourth quarter of fiscal year 2014.
Adjusted EBITDA was $13.9 million, compared to $23.4 million in the fourth quarter of fiscal year 2014.
Adjusted EBITDA margin was 21%, compared to 26% in the fourth quarter of fiscal year 2014.
Net loss attributable to common shareholders was $3.1 million, or $0.12 per diluted share, compared to net income attributable to common shareholders of $0.8 million, or $0.03 per diluted share, for the fourth quarter of fiscal year 2014.
Average fleet unit utilization was 75%, compared to 80% in the fourth quarter of fiscal year 2014.
Completed one acquisition in the Asia-Pacific region during the quarter.
 
Fiscal Year 2015 Highlights
Total revenues were $303.8 million, an increase of 6% over fiscal year 2014.
Leasing revenues comprised 69% of total non-manufacturing revenues versus 56% for fiscal year 2014.
Adjusted EBITDA was $84.2 million, an increase of 22% over fiscal year 2014.
Adjusted EBITDA margin was 28%, compared to 24% for fiscal year 2014.
Net income attributable to common shareholders was $3.5 million, or $0.13 per diluted share, compared to $3.9 million, or $0.15 per diluted share, for the fiscal year 2014.
Average fleet utilization was 80%, compared to 81% in fiscal year 2014.
Completed eight acquisitions, six in North America and two in the Asia-Pacific region.
 
Management Commentary

“Following a very strong first six months of fiscal year 2015, the second half was challenging for us as the global decline in oil prices reduced demand among our energy customers in North America for our liquid containment business and in the Asia-Pacific region for our workforce accommodation business,” said Ronald Valenta, President and Chief Executive Officer of General Finance Corporation. “Outside of the oil and gas sector, our North American leasing operations benefited from our end-market diversity and geographic expansion, delivering continued growth across most product lines and end markets for the fourth quarter and full year. In the Asia-Pacific region, our fourth quarter and fiscal year results were also adversely impacted by the weakening Australian dollar relative to the U.S. dollar and slower growth in the Australian economy, which was partially offset by an improving construction sector and a continued healthy economy in New Zealand. We continue to pursue our geographic expansion strategy and in fiscal year 2015 we completed eight portable storage container business acquisitions: six in North America and two in the Asia-Pacific region.”


 
1

The following information was filed by General Finance Corp (GFN) on Tuesday, September 8, 2015 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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