Zeppelin’s expanding rental division posted a 20% year on year rise in revenues as the group declared an 11% increase in pre-tax profits for 2014.
The figures were the first to be announced since Zeppelin bought the Streif Baulogistik rental business and the BIS Blohm + Voss Inspection Service testing company just over 12 months ago.
And the impact of the twin acquisitions was clear with rental sales up €58 million on 2013 to a new figure of €348 million. Outside Germany, the group also reported a strong rental performance in central Europe.
By contrast, overall group revenues fell by more than €130 million to €2.3 billion. This was mainly due to testing economic conditions in Russia and the Ukraine.
Profit figures for the individual group businesses were not disclosed, but total pre-tax earnings were €71.6 million, a rise of €7.2 million or 11% year on year. Within the group, rental was the only division to produce a significant increase in revenue.
Looking ahead to the rest of 2015, the group said: “Increasing flexibility and the trend towards short-term rental offer high potential for the rental business unit.
“The short-term rental business in Russia will be integrated into the existing sales and service organisation and downsized in due course.
“In 2015 we will focus on the continued integration of the acquisitions of the recent past.”