Cramo, Finland-based international rental company, posted €657.3 million (about U.S. $900 million) in revenue for 2013, a 4.5-percent decline compared with €688.4 million in 2012. EBITA was €79.9 million, a slight increase, and EBITA margin was 12.2 percent.
For the fourth quarter of 2013, the company’s revenue was €175.1 million, a 5.1-percent drop compared with the fourth quarter of 2012.
The company expects its revenues to increase in 2014, although exact sales numbers depend on changing exchange rates.
“Our work to improve operational efficiency in recent years shows results,” said Vesa Koivula, president and CEO of Cramo Group. “Despite the decrease in sales and the weak economic situation, our relative profitability improved in 2013, particularly in the second half of the year. After a strong expansion in earlier years, efficiency improvement has primarily taken the form of uniform business practices and efficient processes across the group. In 2013, we made good progress in the implementation of consistent operating methods in all of our countries of operation, and our reformed range of services was well received among customers. We will continue to develop our operations particularly in Norway, Denmark and Central Europe.
“Market forecasts for 2014 are optimistic for many of our markets, but the growth rate is likely to remain moderate. I am expecting the rental market to resume growth in the second half of the year at the latest.”
Cramo is headquartered in Vantaa, near Helsinki, Finland. The company has 360 branches in 15 countries.