Positive market outlook for Cramo
By Steve Ducker05 August 2015
Finnish rental company Cramo posted a 2.8% year-on-year increase in sales for the six months to 30 June, after recording a 1% rise in the second quarter.
Total sales for the quarter were €161.3 million compared to €159.8 million a year ago, and the half-year revenues were €308.4 million against €300 million in 2014.
EBIDTA was up 19.5% in the quarter to €43.7 million, and 21.1% up for the half-year at €78 million.
“In the second quarter our rental sales grew more strongly than in the first,” said CEO Vesa Koivula, “whereas lower-margin rental-related sales and trading sales decreased slightly year-on-year.
“According to our estimates, Cramo has gained some market share in core rental operations in several of its markets during 2015.
“With the current market outlook, I believe that Cramo Group’s positive development will continue.”
Geographically, Cramo reported increased half-year sales in Finland (5.8%), Eastern Europe (5.8%) Sweden (4.2%) and Central Europe (0.2%), though revenues in Central Europe fell during the second quarter.
Year-on-year sales in Denmark and Norway were down 9.2% and 7.3% respectively after restructuring during 2014, while the Fortrent joint venture in Russia and Ukraine, where Cramo has a 50% stake, was down 16% in the second quarter and 19% for the half-year.