Responsive Image Banner

Earnings improve for Cramo

Premium Content

29 October 2015

Rental markets have continued to gradually strengthen in Finnish rental company Cramo’s main regions, fuelling growth at the company for the nine months from January to September.

Revenues for the period stood at €481 million, up from €471 million for the same period in 2014, after Cramo reported sales growth of 5.8% in Finland, 4.4% in Sweden and 4.8% in Eastern Europe. But it said dales decreased in Norway, Denmark and Central Europe, where operations have been restructured.

As for product areas, sales growth in the first nine months of the year was 1.4% for equipment rental and 5.1% for modular space. The company said demand for modular space – a market in which it is targeting growth - remained at a good level.

Earnings before interest, taxes and amortisation (EBITA) also improved year-on-year, reaching €59.9 million for the nine-month period, compared to €47.3 million in 2014. Cramo said profitability improved in all business and product areas.

In August, Cramo appointed Leif Gustafsson as its new president and CEO, effective 1 January, 2016, and replacing retiring CEO Vesa Koivula.

Mr Koivula said, “When I took up the position of president and CEO of Cramo Group at the beginning of 2004, our company was just beginning to turn its gaze beyond Finnish borders.

“During the past 12 years, as a united Cramo team we have increased the sales of our group approximately nine-fold, and achieved a leading position in the European equipment rental and modular space markets. I am happy and proud to be leaving a healthy and growing Cramo Group to my successor Leif Gustafsson.”

Cramo said its full-year outlook was unchanged, with sales expected grow in local currencies and the EBITA margin improving in 2015 compared to 2014.

STAY CONNECTED


Receive the information you need when you need it through our world-leading magazines, newsletters and daily briefings.

Sign up

Latest News
Almac launches spider rental range
New BA-Line has series of features suited to the rental market 
Sunbelt adds drones to US rental fleet
Partners with a leading US drone manufacturer
Loxam renews communications and wireless connections contract
Moves into ‘second generation’ agreement with GTT
CONNECT WITH THE TEAM
Murray Pollok Editor, International Rental News Tel: +44 (0)1505 850043 E-mail: [email protected]
Lucy Barnard Editor, Rental Briefing Tel: +44 (0)1892 786 241 E-mail: [email protected]
Ollie Hodges Vice President, Sales Tel: +44 (0)1892 786253 E-mail: [email protected]
CONNECT WITH SOCIAL MEDIA
International Rental News newsletter

Rental Intelligence — When You Need It, How You Need It

Stay ahead with industry trends, expert insights and global news — in your inbox.

Sign me up