Cramo Plc, an 11-country, 250-location rental company based in Helsinki, Finland, last week announced 2006 operating profit of EUR 68.6 million (about U.S. $90.3 million), an 87-percent increase from the previous year’s pro forma operating profit of EUR $36.5 million (about U.S. $48.1 million).
Cramo expects its sales growth to exceed 10 percent in 2007, along with another profitability increase.
Cramo operates in Finland, Sweden, Norway, Denmark, the Netherlands, Estonia, Latvia, Lithuania, Poland, the Czech Republic and Russia. Cramo officials said equipment rental services in all its market areas have shown a faster rate of growth than the construction market growth rate in recent years, a trend it expects to continue.
Cramo’s fourth-quarter consolidated sales and profit increased 26.2 percent year over year on a pro forma basis. The strong fourth-quarter performance was particularly attributed to mild weather that extended the construction season, as well as synergies gained through acquisitions through the year. Demand for equipment rental as well as modular space, another key Cramo business area, was strong in all its markets.
In other Cramo news, the company last week announced it has signed an agreement to acquire the assets of Konevuokraamo Oy, a one-location rental company in Jyvaskyla, Finland.