Europe’s Cramo Posts Improved Results in Third Quarter

Oct. 28, 2016

2 min read

Cramo enjoys a solid increase in the first nine months of 2016 and expects continued growth in the coming months.

Cramo plc, Europe’s second largest equipment rental company posted €184.8 million (about U.S. $203 million) in third quarter revenue, compared to €172.4 million in the third quarter of 2015, a 7.2-percent boost. EBITA was €38.9 million compared to €30.2 million in the year-ago quarter, a 28.9-percent hike.

For the first nine months of the year, Cramo posted €519.4 million in revenue, compared to €480.7 million in the first nine months of 2015, an 8-percent increase. EBITA was €78.5 million compared to €58.7 million a year ago, a 33.8-percent leap.

“The demand for equipment rental and modular space has developed favorably this year, and we have succeeded in increasing sales and profit in both product areas,” said CEO Leif Gustafsson. “Our sales grew in local currencies by 8.8 percent in January-September and by 7.9 percent in the third quarter. During the third quarter, sales grew in all markets, with the exception of Norway and Eastern Europe.

“I expect the demand for equipment rental and modular space to stay on a good level for the remainder of the year. Over the long term, the demand for rental service is supported by several megatrends, such as urbanization and efforts to achieve sustainable development. Cramo is in a good position in most of its markets to capitalize on the opportunities created by the market.”

Cramo, based in Vantaa, near Helsinki, Finland, operates in 15 countries and has about 330 branches.

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.