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.