Finnish rental company Ramirent has issued a stable forecast for this year after reporting full-year growth for 2015 despite tough conditions in some markets.

Net revenues for the 12 months to the end of December 2015 were up 3.6% year-on-year to €636 million, while earnings before interest, taxes and amortisation (EBITA) stood at €168 million, 0.1% higher than the previous year.

But the company said its gross capital expenditure for 2015 was 3.7% lower than 2014 at €139 million.

CEO Magnus Rosén said, “A higher relative share of sales of services in the business mix, price pressure in Finland and Norway, as well as internal reorganisations hampered our profitability in 2015.

“We have harmonised our operational model ‘One Ramirent’ to be more efficient and flexible, and we will continue to focus on controlling costs and improving profitability.”

Looking ahead to this year, Mr Rosén said the company expected to see stable and fair overall market conditions, varying between different geographical markets.

“I am therefore cautiously optimistic as we set out to pursue profitable growth in 2016 backed by accelerated capital expenditure, more common processes in Ramirent, a strong financial position, strong positions in our markets, and a highly capable and committed team.”

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