Revenues and profits up for Ramirent

Finland-based rental company Ramirent has announced half-year revenues of €338.7 million, representing a year-on-year increase of 7.4%.

Ramirent’s earnings before interest, taxes, depreciation and amortization (EBITDA) was €90.8 million for the first six months of the year, compared with €74.1 million a year earlier – a 22.5% increase.

As a result, the company’s profit margin was also up to 26.8%, compared to 23.5% last year.

Tapio Kolunsarka, CEO, Ramirent, said, “We are satisfied with our performance improvement in the first half of the year.

“The most positive development in the second quarter was seen in Europe central where strong execution of our improvement plan continued and market conditions improved.”

Kolunsarka added that market conditions were expected to remain favourable for the company, while it would continue to stay focused on its basic priorities to deliver a strong second-half performance in 2017.

Ramirent said that market conditions in its home market, Finland, were expected to remain favourable, supported by new residential construction and large non-residential construction projects.

In Sweden, it said strong momentum was expected to continue, while the Danish and Norwegian markets would be stable.

It added that the Baltics, Poland and Slovakia would be good markets, while business would be tough in the Czech Republic.