Europe’s Cramo Posts Solid Rental Growth in First Quarter

European rental giant Cramo posted a 4.8 percent revenue growth in the first quarter with €147.1 million (about U.S. $165 million). In local currencies, sales grew 8.6 percent.

“In a seasonally weak first quarter, our sales grew and results improved compared to the corresponding period last year,” said CEO Vesa Koivula. “The positive development started in the autumn of 2014, thanks to both our own performance improvement actions and the improved market situation. In the beginning of 2015, the market situation continued to strengthen particularly in Sweden, as well as in central Europe and in many locations in Eastern Europe. Sales grew in all our business segments except for Norway and Denmark. The Modular Space product area grew strongly in the quarter.

“With the current market outlook, I believe that Cramo Group’s sales growth will continue and our profitability will improve compared to the previous year.”

Cramo, based in Vantaa, near Helsinki, Finland, has 330 branches in 15 Nordic, Central and Eastern European countries.