18.11.2006

Ramirent up 27%

Ramirent, the Finnish based rental group that operates one of the largest aerial lift fleets in Europe, saw net sales for the first nine months of 2006 increase by 27.4 percent to €352 million.

Operating income almost doubled to €77.8 million or 22 percent of revenues, compared to only 14 percent in the same period of 2005.

Net profits rose slightly more steeply from €25.6 million in 2005 to €57 million this year.

Looking at the revenues for the individual operating companies:-
Ramirent-Finland saw an increase of 19 percent to €73.2 million, Ramirent-Sweden by 24 percent to €92.8 million, Ramirent-Norway by 21 percent to €87 million, Ramirent-Denmark by 18 percent to €35.9 million, and Ramirent-Europe, which covers Eastern Europe, by 73 percent to €64.6 million.

The majority of the group’s growth was organic, although a number of small acquisitions contributed to the improvement, largely within the Eastern European business.

The Group operating income breaks down as follows:
Ramirent-Finland grew by 31 percent to €18.7, Swedish profits rose by more than 350 percent to €20 million, although this included a €5.4 gain on one-off property disposals. Ramirent-Norway saw profits jump by 70 percent to €19.8 million, Denmark by 80 percent to €4.7 million, while profits at Ramirent Europe rose by over 230 percent to €16.8 million.

During the nine months the Group spent €128 million on new machinery and equipment.