Ramirent, international rental company with branches in 13 countries, posted a 22.3-percent net sales increase for the first quarter with €164 million (about U.S. $212.4 million), compared with €134.4 million in the first quarter last year.
“Demand continued to be on a good level, although January-March is typically the quietest time of the year for our business,” said Magnus Rosen, Ramirent CEO. “Activity levels continued to recover fuelled by high construction activity in all our segments, except for Europe Central. Equipment utilization rates were stable or increasing in most product groups, which supported a good price development.
“While the year started strongly, there are still major uncertainties relating to general growth prospects in the economy, and these uncertainties may adversely affect the demand for rental products and services in the second half of the year. Due to the prevailing state of the markets, the visibility is low. We continue to carefully monitor the development of our market environment and maintain a high preparedness to act upon possible changes in market conditions. Our priority during 2012 is to be cautious in capital expenditure spending, to have a strict cost control and to maintain a strong balance sheet. On top of this, we are continuing to develop our product portfolio to provide integrated solutions that simplify business for our customers.”
According to forecasts, most European countries expect single-digit construction growth in 2012, with the exception of Finland, Latvia, Lithuania, Czech Republic and Hungary where single-digit declines are expected.
Ramirent is based in Helsinki, Finland.