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2017-04-28 08:00:02 CEST 2017-04-28 08:00:02 CEST REGULATED INFORMATION Cramo Oyj - Interim report (Q1 and Q3)Cramo's Business Review for January-March 2017Cramo Plc Business Review 28 April 2017, at 9.00 am (EET) Cramo's Business Review for January-March 2017 Good start of the year JANUARY–MARCH 2017
SIGNIFICANT EVENTS
KEY FIGURES
* ROCE = EBIT (rolling 12 months) / capital employed (average start and end of period) The start of the year 2017 has been promising. Demand for equipment rental and for modular space developed favourably, and we succeeded in increasing sales in all our equipment rental business segments. Sales performance was also supported by the timing of Easter compared to last year. In modular space the rental sales also clearly increased from last year. Profitability improvement continued to be strong in the equipment rental business division. However, in modular space profitability development was unsatisfactory in the first quarter, which was mainly due to cost overruns in some projects in Finland. Actions have been taken to secure better cost control in the future. In February we launched our new strategy ‘Shape and Share’ and set the new long-term financial targets until 2020. The implementation of the new strategy has started in all countries. Looking ahead, for this year, I expect the demand for equipment rental and modular space to stay at a good level in all our segments, supported by the good outlook in construction industry and megatrends such as urbanisation and migration.
European Rental Association (ERA) forecasts that the equipment rental market will grow in all of Cramo’s operating countries that are within the scope of ERA’s forecast.
A conference call for analysts, investors and press will be held on 28th April at 11.00 am (EET). To participate in the conference call please dial in 5-10 minutes prior to the start time on +358 (0)9 7479 0404 and provide a conference code 7556494. The conference call will be held in English. Questions can be asked after the presentation.
Leif Gustafsson
Further information:
Mr Leif Gustafsson, President and CEO, tel: +358 10 661 10
Distribution:
Nasdaq Helsinki Ltd.
Cramo is Europe’s second largest rental services company specialising in construction machinery and equipment rental and rental-related services as well as the rental of modular space. Cramo operates in fifteen countries and in about 320 depots. With a group staff around 2,600, Cramo's consolidated sales in 2016 was EUR 712 million. Cramo shares are listed on Nasdaq Helsinki Ltd. Read more: www.cramogroup.com, www.twitter.com/cramogroup
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