Positive market outlook for Cramo

By Steve Ducker05 August 2015

Cramo CEO Vesa Koivula

Cramo CEO Vesa Koivula

Finnish rental company Cramo posted a 2.8% year-on-year increase in sales for the six months to 30 June, after recording a 1% rise in the second quarter.

Total sales for the quarter were €161.3 million compared to €159.8 million a year ago, and the half-year revenues were €308.4 million against €300 million in 2014.

EBIDTA was up 19.5% in the quarter to €43.7 million, and 21.1% up for the half-year at €78 million.

“In the second quarter our rental sales grew more strongly than in the first,” said CEO Vesa Koivula, “whereas lower-margin rental-related sales and trading sales decreased slightly year-on-year.

“According to our estimates, Cramo has gained some market share in core rental operations in several of its markets during 2015.

“With the current market outlook, I believe that Cramo Group’s positive development will continue.”

Geographically, Cramo reported increased half-year sales in Finland (5.8%), Eastern Europe (5.8%) Sweden (4.2%) and Central Europe (0.2%), though revenues in Central Europe fell during the second quarter.

Year-on-year sales in Denmark and Norway were down 9.2% and 7.3% respectively after restructuring during 2014, while the Fortrent joint venture in Russia and Ukraine, where Cramo has a 50% stake, was down 16% in the second quarter and 19% for the half-year.

Latest News
Bentley reveals 2022 digital award winners
Software specialist presents accolades to major projects making use of its latest technology
Palfinger crawler crane chosen for power plant lift
Crane on site for lift at pumped storage power plant in Bergheim, Austria