Ramirent Boosts Revenue 9.1 Percent in Third Quarter

Nov. 11, 2017

2 min read

Ramirent posted third quarter net sales of €184.7 million (about U.S. $215.5 million) compared to €169.2 million in the third quarter of 2016, a 9.1-percent increase for the multi-nation rental company. EBITA leaped from €22.2 million in last year’s third quarter to €34.1 in the recently concluded third quarter, a 53.6 percent leap.

For the first nine months of 2017, Ramirent posted €523.4 million compared to €484.7 million in last year’s first nine months, an 8-percent jump. EBITA improved from €47.02 million to € to €72.6 million.

“In the seasonally strong Q3, our team’s execution was outstanding,” said Tapio Kolunsarka, Ramirent president and CEO. “Our Q3 comparable EBITA increased by 53.3 percent to €34.1 million, the highest level since 2008. Our performance was strong on a broad basis in the quarter. Sweden, Europe Central, Baltics and Finland delivered very strong EBITA levels. The profitability improvement was also good in Norway. Due to favorable market conditions and our strong performance, our investment agenda remained active driving fleet investments close to last year’s level at €39.1 million. Despite this, we also generated a positive cash flow after investments of €9.5 million, which, together with improved profitability, brought the net debt/EBITDA ratio down to 1.8 times.”

Ramirent, active in 10 countries, is based in Vantaa, Finland.

About the Author

Michael Roth

Editor

Michael Roth has covered the equipment rental industry full time for RER since 1989 and has served as the magazine’s editor in chief since 1994. He has nearly 30 years experience as a professional journalist. Roth has visited hundreds of rental centers and industry manufacturers, written hundreds of feature stories for RER and thousands of news stories for the magazine and its electronic newsletter RER Reports. Roth has interviewed leading executives for most of the industry’s largest rental companies and manufacturers as well as hundreds of smaller independent companies. He has visited with and reported on rental companies and manufacturers in Europe, Central America and Asia as well as Mexico, Canada and the United States. Roth was co-founder of RER Reports, the industry’s first weekly newsletter, which began as a fax newsletter in 1996, and later became an online newsletter. Roth has spoken at conventions sponsored by the American Rental Association, Associated Equipment Distributors, California Rental Association and other industry events and has spoken before industry groups in several countries. He lives and works in Los Angeles when he’s not traveling to cover industry events.