Turnover at Enermech broke through the £200-million barrier for the first time last year and is on course to hit £260million this year after the mechanical engineering group unveiled a further six crane contracts together worth more than £34million.
Figures published yesterday showed that revenues grew by 40% during 2013 to reach £202.5m.
International expansion reined in earnings before interest, tax, depreciation and amortisation (Ebitda), which climbed by a more-modest 21% to hit £14.2m.
The group, which was founded in 2008, employs 2,400 staff and operates from 30 bases in 20 countries.
Turnover from its operations in the UK rose by more than 30% to £101m, with Ebitda in Britain jumping by 67% to £9m.
But operations in the UK posted a pre-tax loss of £2.1million, which reflected the fact that the British division “carries most of the group debt and supporting costs”, the firm said.
Despite the fall in the price of oil, Enermech chief financial officer Michael Buchan said “prospects in 2015 and beyond look promising”.
Next year the company is expecting growth to come from Africa, the Americas and the Middle East.
The firm has opened bases in Louisiana and Trinidad and has formed a joint venture with Abdulla Fouad Group in Saudi Arabia.
Enermech added that the positive outlook followed on from “another successful year in 2014”.
The group rounded off its current financial year by extending crane and lifting contracts with Apache North Sea, Maersk Oil and Marathon Oil, and signing fresh deals with Centrica Storage/HRL, Aker Solutions and Technip.
Mr Buchan said: “Our recently filed 2013 results included significant one-off costs in relation to building the company’s international footprint, without which our Ebitda would have exceeded £20million.
“This investment is now paying dividends and it is expected that non-UK revenues will account for more than 50% of forecast group revenues of £260m in 2014.”
He added: “As the industry becomes increasingly focused on reducing the costs of production, we expect more customers to look to consolidate their supply chain and benefit from the unique range of complementary services that we can offer globally.
“Consistent investment in facilities, people and equipment are now at an advanced stage of maturity across our group locations and that has helped position our specialist business lines with first-time customers in new locations.”
Enermech was created by bringing together SMS in Aberdeen, A1 Safety Training in Great Yarmouth and Bjorge Cranes in Norway.
It has since taken over companies in Australia, South Africa and the United States.
Chief executive Doug Duguid said: “Our business is now well established in all of the world’s major oil-producing regions and it’s an organisation with real scale, both in terms of physical on-the-ground assets and in personnel and expertise.”
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