European Rental Company Cramo Posts Q4 and Full Year Increase

Feb. 12, 2016

2 min read

Cramo39s volume increased in Q4 and full year 2015 especially in modular accommodations rentals — Cramo's volume increased in Q4 and full year 2015, especially in modular accommodations rentals.

European rental giant Cramo posted €187.2 (about U.S. $210.7 million) in sales in the fourth quarter of 2015, a 3.6-percent increase but 4.9 percent when calculated in local currencies compared to the fourth quarter of 2014. For the full year, Cramo’s volume grew 2.5 percent to €667.9 million, which translates to 4.7 percent when calculated in local currencies.

Cramo’s new president and CEO Leif Gustafson assumed his new position just after the year ended on Jan. 1, 2016.

“Full-year sales increased in local currencies by 4.7 percent and reached €667.9 million,” Gustafson said. “Full-year EBITA margin before non-recurring items improved from 11.2 percent to 13 percent. Profitability improved in all markets and product areas except in Eastern Europe where profitability was at last year’s level. The best profitability was achieved in Finland and Sweden. In Central Europe, full-year EBITA still remained negative but improved towards the end of the year and we completed restructuring in the fourth quarter.

“For the full year, equipment rental sales grew in local currencies by 3.7 percent and modular space sales by 9.8 percent. In the fourth quarter, modular space sales grew in local currencies by 15.7 percent.”

The company expects economic development to gradually pick up in Europe, and the construction market outlook is positive in 2016 in the countries Cramo does business. In the long term, the equipment rental market is expected to continue to outpace construction, Cramo said.

Based in Vantaa, near Helsinki, Finland, Cramo operates in 15 countries with 330 locations.

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.