Mills posts record third quarter revenues

Brazil’s Mills Rental reported record third quarter revenues of R$67.4 million (€26.0 million), a 48% increase year-on-year, with EBITDA profits up 52% to R$38 million (€14.6 million).

Mills said utilisation rates on its fleet had maintained their levels despite the addition of significant numbers of new machines. The company has invested more than R$107 million (€41 million) in the Rental division in the first nine months of the year.

The division resumed its geographical expansion during the quarter, with a new branch opened in São Luís, Maranhão.

Overall, Mills said the level of infrastructure activity in the country had increased in recent months “which confirms the optimism in the sector”. A new R$133 billion (€50 billion) investment programme to remove infrastructure bottlenecks has just been announced.

The company is also benefiting from commercial investment; “We are currently involved in the construction of 42 malls and the construction of approximately 78 hotels is expected in 2013.”

Last month the company announced a major investment programme in aerial work platforms with JLG, Terex AWP and Skyjack.