Ramirent Oyj Reports Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2017; Provides Earnings Guidance for 2017
August 02, 2017 at 11:30 am IST
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Ramirent Oyj reported consolidated earnings results for the second quarter and six months ended June 30, 2017. For the quarter, the company reported Net Sales were EUR 174.1 million compared to EUR 169.4 million in the last year, up by 2.8% or 4.2% at comparable exchange rates. Comparable EBITA improved to EUR 22.0 million compared to EUR 17.5 million in the last year or 12.6% of net sales. Gross capital expenditure was EUR 52.4 million compared to EUR 60.1 million in the last year. Earnings per share was EUR 0.12 compared to EUR 0.08 in the last year. EBITDA was EUR 48.2 million compared to EUR 42.2 million in the last year.
January-June Net Sales were EUR 338.7 compared to EUR 315.4 million in the last year, up by 7.4% or 7.9% at comparable exchange rates. Comparable EBITA improved to EUR 38.6 compared to EUR 24.8 million in the last year or 11.4% of net sales. Comparable EPS improved to EUR 0.20 compared to EUR 0.11 in the last year. Gross capital expenditure was EUR 94.0 compared to EUR 100.5 million in the last year. ROE was 11.4% compared to 12.6% in the last year. Net debt was EUR 378.6 million compared to EUR 354.4 million in the last year. EBITDA was EUR 90.8 million compared to EUR 74.1 million in the last year.
In 2017, comparable EBITA is expected to increase from the level in 2016.
Ramirent Oyj is a Finland-based company engaged in the provision of equipment rental products and services. The Companyâs Equipment Rental is divided into eight product categories: Light Machinery, Heavy Machinery, Lifts, Power and Heating, Modules, Tower Cranes and Hoists, Scaffolding and Safety and Support Equipment. The Companyâs services comprise work site planning and condition monitoring, on-site support, logistics and fuel services, as well as safety planning and training. Ramirent Oyj offers solutions for customers within different sectors, including construction, industry, services and retail, public sector and households. The Company operates in Finland, Sweden, Norway, Poland, Czech Republic, Slovakia, and Baltic states.