2012-05-10 08:00:02 CEST
2012-05-10 08:00:14 CEST
REGULATED INFORMATION
Ramirent - Interim report (Q1 and Q3)
RAMIRENT’S INTERIM REPORT JANUARY–MARCH 2012: GOOD START OF THE YEAR, BUT LOW VISIBILITY
RAMIRENT PLC COMPANY ANNOUNCEMENT 10 MAY 2012 Vantaa, Finland, 2012-05-10 08:00 CEST (GLOBE NEWSWIRE) -- Note! Figures in brackets, unless otherwise indicated, refer to the corresponding period a year earlier. JANUARY-MARCH 2012 HIGHLIGHTS - Ramirent net sales EUR 164.3 (134.4) million, up 22.3% (21.8% at comparable exchange rates). Like-for-like growth 12.4% - EBITDA EUR 41.9 (27.6) million or 25.5% (20.6%) of net sales - EBIT EUR 12.3 (2.7) million or 7.5% (2.0%) of net sales - Net result EUR 7.9 (-0.1) million and EPS EUR 0.07 (0.00) - Gross capital expenditure EUR 35.7 (31.9) million - Cash flow after investments EUR 6.4 (-10.7) million - Net debt EUR 257.7 (190.6) million and gearing 83.8% (60.2%) RAMIRENT 2012 OUTLOOK Ramirent outlook for 2012 remains unchanged. In 2012, net sales are expected to increase and the result before taxes is expected to improve compared to 2011. KEY FIGURES (MEUR) 1-3/12 1-3/11 CHANGE 1-12/11 Net sales 164.3 134.4 22.3% 649.9 EBITDA 41.9 27.6 51.6% 181.8 % of net sales 25.5% 20.6% 28.0% EBIT 12.3 2.7 360.3% 74.1 % of net sales 7.5% 2.0% 11.4% Earnings per share (EPS), (basic and diluted), 0.07 0.00 N/A 0.41 EUR Gross capital expenditure on non-current assets 35.7 31.9 12.0% 242.2 Gross capital expenditure, % of net sales 21.7% 23.7% 37.3% Cash flow after investments 6.4 −10.7 N/A −52.0 Invested capital at the end of period 567.9 507.9 11.8% 591.2 Return on invested capital (ROI), % 1) 18.6% 9.3% 15.7% Return on equity (ROE), % 1) 16.9% 6.3% 13.9% Net debt 257.7 190.6 35.2% 262.8 Gearing, % 83.8% 60.2% 80.6% Equity ratio, % 38.0% 47.5% 40.7% Personnel at end of period 3 086 3 045 1.3% 3 184 1) The figures are calculated on a rolling twelve month basis. MAGNUS ROSÉN, RAMIRENT CEO: “Demand continued to be on a good level although January-March is typically the quietest time of the year for our business. Activity levels continued to recover fuelled by high construction activity in all our segments except for Europe Central. Equipment utilisation 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 and cater to their needs in the areas of eco-efficiency and safety.” MARKET OUTLOOK 2012 According to the forecast published by the Confederation of Finnish Construction Industries RT in April 2012, construction output is expected to decrease by 2.0% in 2012 in Finland. According to forecast published by the Swedish Construction Federation in 8 February 2012, construction output will decrease by 1% in 2012 in Sweden. According to the forecast published by Euroconstruct in November 2011, construction is expected to grow by 6% in 2012 in Norway and by 4% in Denmark. In Europe East, Euroconstruct forecasts construction to increase by 8% in 2012 in Estonia, by 0-5% in Russia and decrease by 4% in Latvia and Lithuania. In Europe Central countries Euroconstruct forecasts construction to grow by 4% in 2012 in Poland, by 3% in Slovakia but decrease by 2% in Hungary and by 4% in Czech Republic. ANALYST AND PRESS BRIEFING A briefing for investment analysts and the press will be arranged on Thursday 10 May 2012 at 11.00 a.m. Finnish time at Palace Gourmet, cabinet Merisali (visiting address: Eteläranta 10, 10th fl., Helsinki). WEBCAST AND CONFERENCE CALL You can participate in the analyst briefing on Thursday 10 May 2012 at 11.00 a.m. Finnish time through a live webcast at www.ramirent.com and conference call. Dial-in number: +44 (0) 20 3003 2666 and conference password Ramirent Interim Report Q1 2012. A recording of the webcast will be available at www.ramirent.com later the same day. FINANCIAL CALENDAR 2012 Ramirent observes a silent period during 21 days prior to the publication of annual and interim financial results. Interim Report January-June 2012 9 August 2012 at 9:00 a.m. Interim Report January-September 2012 2 November 2012 at 9:00 a.m. The financial information in this stock exchange release has not been audited. Vantaa, 10 May 2012 RAMIRENT PLC Board of Directors FURTHER INFORMATION CEO Magnus Rosén tel.+358 20750 2845, magnus.rosen@ramirent.com CFO Jonas Söderkvist tel.+358 20750 3248, jonas.soderkvist@ramirent.com DISTRIBUTION NASDAQ OMX Helsinki Main news media www.ramirent.com Ramirent is a leading equipment rental group delivering Dynamic Rental Solutions™ that simplify business. We serve a broad range of customers, including construction and process industries, shipyards, the public sector and households. In 2011, the Group's net sales totalled EUR 650 million. The Group has 3,100 employees at 394 rental outlets in 13 countries in the Nordic countries and in Central and Eastern Europe. Ramirent is listed on the NASDAQ OMX Helsinki Ltd.
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