Positive market outlook for Cramo

By Steve Ducker05 August 2015

Cramo CEO Vesa Koivula

Cramo CEO Vesa Koivula

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.

MAGAZINE
NEWSLETTER
Delivered directly to your inbox, Access International Newsletter features the pick of the breaking news stories, product launches, show reports and more from KHL's world-class editorial team.
Peri launches digital concrete monitoring kit
Temperature Monitoring and Concrete Maturity Kit takes temperature readings from different points in concrete
‘Bad’ data costing construction US$1.8 trillion
New study reveals cost to construction of inaccurate and untimely information
Webinar on cybersecurity in rental and construction, 4 November
IRN free webinar will have senior speakers from Loxam, Ritchie Bros and Palfinger
CONNECT WITH THE TEAM
Euan Youdale Editor, Access International Tel: +44 (0)1892 786 214 E-mail: euan.youdale@khl.com
Ollie Hodges Sales Manager Tel: +44 (0)1892 786253 E-mail: ollie.hodges@khl.com
CONNECT WITH SOCIAL MEDIA