Vantaa, Finland-based multi-national rental company Ramirent increased net volume for the first six months of 2007 to €288.6 (about U.S. $389.2 million), a 30.1-percent increase compared to the first six months of last year when volume totaled €221.8 million.
EBITDA grew 48.8 percent to €99.6 million (U.S. $134.3 million), up from €66.9 million for the same period last year. Return on invested capital was 28.4 percent, up from 22.3 percent in the year-ago period.
“The business environment remained favorable in all markets,” said CEO Kari Kallio. “All business segments grew well and net sales in the second quarter were at the highest level ever. To meet the strong customer demand, Ramirent has continued to invest heavily in additional capacity in advance of the summer peak season. In the Czech Republic, which Ramirent entered only a year ago, development has been especially satisfying. In May, Ramirent further strengthened its market position and widened the customer base by the acquisition of a telehandler rental company with operations covering the whole Czech Republic.”
Kallio said high utilization rates and increased efficiency improved operating profit in all segments, and that especially Sweden and Denmark displayed strong improvement in profitability.
“Ramirent will continue to search for bolt-on acquisitions and to further improve internal efficiency to support profitable growth,” Kallio added.
Ramirent has 296 locations in 12 countries.