17.01.2014

Ramirent issues profit warning

Finnish rental group Ramirent has issued a profit warning for 2013 saying that a weaker fourth quarter will damage full year earnings.

Chief executive Magnus Rosén said: “In the fourth quarter we did not manage to reduce costs to match the lower demand and we are now intensifying measures to strengthen profitability. We estimate that the Group’s Earnings Before Interest Tax and Amorisation for the full year 2013 will be approximately €92 million compared to €100.6 million in 2012.”

The company had previously forecast 2013 EBITA to come in “slightly below the 2012 level,” it will release its results on 17th February.