04.05.2016

Modest rise for Rami

Finnish international rental company Ramirent has posted its first quarter results which show a solid improvement in both revenues and profits.

Total revenue for the quarter was 3.9 percent higher than last year at €146 million, while last years pre-tax loss of €200,000 was turned into a profit this year of €3.2 million. Capital expenditure more than doubled to €40 million. Net debt rose sharply 27 percent higher at €287.9 million.

Chief executive Magnus Rosén said: “Ramirent’s first-quarter net sales grew by 5.5 percent at comparable exchange rates and EBITA improved to €7.2 million, with a margin of five percent. This performance is an improvement over last year also considering that Easter took place already in the first quarter this year. First-quarter sales grew in all markets except in Norway. The EBITA improved based on higher sales and good control of material and services costs. Return on equity improved to 14.6 percent, and capital expenditure increased to €40.4 million to support growth in all business areas”.

“In General Rental, net sales grew based on improved activity in the Nordic construction and industrial sectors, while demand was weaker in Europe Central and the Baltics due to a slow start to the year in construction of new buildings. In Solutions, several Total Solutions projects and continued high rental related service sales supported growth in most markets. In Temporary Space, demand was strong especially in the public sector, while demand continued to be weak in Norway due to weak business climate in the oil & gas sector".

"Based on our continued solid financial position, we continue to pursue sustainable profitable growth by developing our customer offering, operational efficiency, pricing management and the flexibility of our supply chain.”