All Financial results Articles

Aggreko said its local rental businesses in Europe and North America had deteriorated in the second quarter, with temperature control equipment most affected.

Liebherr's crane divisions faired better than others in the group's 2008 financial review. However, they did not escape the downward trend towards the end of the year or the general concerns for 2009

Ashtead Group said it expected the recession to accelerate the trend towards rental, particularly in the US, with contractors responding to financial constraints and uncertain order books by outsourcing more of their equipment needs.

Kobelco Cranes has reported a satisfactory 2008 financial year but forecasts a much tougher 2009. In the 12 months that ended 31 March 2009, the Japanese company sold about 920 new cranes, an 8% increase over the 850 units sold in the 2007 fiscal year

UK rental company VP plc has reported almost identical revenues for the year to 31 March 2009, with sales up 1% to £150.9 million (€172 million) and net profits marginally down at £15.1 million (€17.2 million).

Bouygues reported first quarter sales of € 6,6 billion, down -2% on the € 6,8 billion recorded 12 months earlier. Pre-tax profits dropped to € 174 million, down -55% on the € 387 million recorded for the same period last year.

Strabag reported first quarter sales of € 2 billion, up +18% on the € 1,7 billion reported for the same period last year.

Bam reported first quarter sales of € 1,7 billion, down -4,8% on the € 1,8 billion recorded 12 months previously.

Speedy Hire's revenues for its fiscal year ending 31 March 2009 were £476.1 million (€547.5 million), up 2.3% from £465.5 million (€535.5 million) in 2008. However, EBITDA for the UK company fell 4.6%, from £131.6 million (€151.3 million) to £125.6 million (€144.4 million), reflecting a decline in operating margin, from 13.7% to 10.4%.

Industrial and port crane manufacturer Demag Cranes is forecasting further cost cutting measures following its 2008/2009 second quarter results

James Hardie, a manufacturer and supplier of fibre cement products for construction, reported full year sales to 31 March 2009 of US$ 1.2 billion, down -18% on the US$ 1.4 billion recorded 12 months previously. Pre-tax profits for the year jumped to US$ 173 million, up from a 2007/8 loss of –US$ 36 million, a loss attributed to asbestos claims and insurance.

Hochtief increased its order backlog by +7,6% to € 31,3 billion in the first quarter of 2009, up from € 29 billion 12 months previously.

Ramirent managed €0.5 million net profit in the first three months of the year despite reporting net sales 24.6% down at €122.2 million compared to the same period in 2008. All its markets were down, with the worst performing area being Europe East (Baltic States, Russia and the Ukraine), down 54.6%. Other territories were down between 14.1% (Finland) and 23.1% (Sweden).

Bad weather and downturn in France pushes Q1 revenues down -2,6%.

McDermott International reported sales for the first quarter of US$ 1.49 billion, up +3% on the US$ 1.45 billion recorded 12 months previously.

Ashtead Group said rental revenues in its fourth quarter to 30 April will be around 24% down (at constant exchange rates) with volumes holding up “relatively well” but rental rates deteriorating worse than anticipated.

SNC-Lavalin reported first quarter pre-tax profits of CA$ 77.4 million (US$ 66.8 million), up +9.4% on the CA$ 70.8 million (US$ 61 million) recorded 12 months ago.

Skanska has revealed the announcement of US stimulus packages, in the short term, had a negative effect on civil construction markets in North America.

RSC Equipment Rental posted a first quarter net loss of US$14 million on total revenues on $351 million, which were down 16.8% on the same three months in 2008. Rental revenues fell by 23% to $287 million and RSC said it expected a 35-40% decline in the second quarter compared to the same period in 2008.

Perini reported first quarter pre-tax profits of US$ 62.6 million, up +56% on the US$ 40 million for the same period last year.