Ramirent Volume Improves in Fourth Quarter, Full Year 2015

European rental giant Ramirent posted fourth quarter net sales of €170.5 million (about U.S. $186.3 million), compared to €160.7 million in the fourth quarter of 2015, a 6.1-percent increase.

Michael Roth

Feb. 26, 2016

2 min read

Ramirent includes Volvo products and many others in its extensive inventory.

European rental giant Ramirent posted fourth quarter net sales of €170.5 million (about U.S. $186.3 million), compared to €160.7 million in the fourth quarter of 2015, a 6.1-percent increase. For the full year, Ramirent reported net sales of €635.6 million a 3.6-percent increase compared to 2014.

“Ramirent Group’s fourth quarter sales increased by 6.1 percent or 7.9 percent at comparable exchange rates driven by strong service sales and good demand in general rental in most of our markets,” said CEO Magnus Rosen. “The group’s fourth quarter EBITA increased by 15.7 percent to €16.8 million, representing an EBITA margin of 9.9 percent. In the fourth quarter, we increased capital expenditure to €42 million to capture growth opportunities. To drive growth and profitability, we updated our long-term financial targets and strategic focus themes at the Capital Markets Day in December. We are targeting further growth by developing our group business mix through three distinct business areas: General rental, Solutions and Temporary Space.”

Rosen said that in 2016, the company expects stable and fair overall market conditions, despite some varying between market areas.

Also Ramirent named Tapio Kolunsarka as its new president and CEO, to succeed Magnus Rosen who will resign from the company. Kolunsarka previously worked at UPM-Kymmene Corp.

Based in Vantaa, near Helsinki, Finland, Ramirent has operations in 10 countries.

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.