Cramo lowers sales guidance
By Sarah McCay17 September 2014
European rental company Cramo Plc has redefined its guidance for 2014 stating that its “sales and EBITA margin will be lower compared to 2013.”
Cramo’s previous guidance for this year stated, “In 2014, Cramo Group’s EBITA margin will continue to improve compared to 2013. Cramo Group’s sales is also expected to grow in 2014, however, exact sales is exposed to changing exchange rates.”
The Finland-based firm said it was currently seeing signs of recovery in several rental markets. However, it said the general economic situation in Europe had reduced its sales expectations for the third quarter of 2014.
Cramo added that exchange rates were also having a negative impact on the group´s Euro-denominated sales.
Cramo said it was putting increased efforts to its transition programme in Central Europe, but the effects were taking longer than expected. The Group´s other performance improvement actions are proceeding according to plan.