28.08.2006

RK/Cramo sales up by 18.5%

Finnish Rental company RK has released its first half 2006 numbers, The first half year numbers since Cramo and RK were merged into the RK group.

Consolidated sales were €180.3 million, up by 18.5 percent on the combined results of the two companies in the same period of 2005

The group also reported operating income up by 80 percent to €22.8 million.

Comparisons with RK’s 2005 results are pointless as the RK numbers were the lower of the two merged companies. And the combined group is a completely different company, in spite of it carrying the same name and registration.
First half profits before tax were €17.5

RK spent €56 million on new rental equipment in the first half, compared to the two companies spend of €46.0 million in 2005

The 2006 spend includes the purchase of Maropol Sp.zo.o., the Polish access rental company, which carried no goodwill costs. It expects to see capital expenditure grow in the second half.

The company says that demand for rental is rising fast in all of the markets it covers, which now includes: Finland, Sweden, Norway, Denmark, the Netherlands, Estonia, Latvia, Lithuania, Poland, the Czech Republic and Russia.

SPV to be merged into RK

The RK Group is currently made up of Rakentajain Konevuokraamo Oyj(RK), Cramo Holding B.V., with its subsidiaries in Sweden, Norway, Denmark, the Netherlands, Estonia, Latvia, Lithuania and Poland; Tilamarkkinat Oy,
Suomen Projektivuokraus Oy (SPV); and the subsidiaries of Suomen Tähtivuokraus Oy in Estonia, Poland, the Czech Republic and Russia.

This will be simplified over the next few months, starting with the merging of SPV with RK on September 30th 2006.

The group now has 250 depots with 1,768 employees.