Consolidated cash flow statement

EUR 1,000 Note 1 Jan – 31 Dec 2017 1 Jan – 31 Dec 2016
Cash flow from operating activities
Profit before tax 105,213 86,856
   Depreciation, amortisation and  impairment 24 114,941 119,995
  Share of profit of joint ventures 7 -1,079 -1,330
  Other non cash corrections 28 -14,601 -13,889
  Finance cost (net) 25 12,042 11,849
Operating profit before changes in working capital 216,516 203,482
Change in working capital
  Change in inventories -869 59
  Change in trade and other receivables -14,625 -8,237
  Change in trade and other payables 11,247 6,636
Cash generated from operations before financial items and tax 212,269 201,941
Interest paid -10,708 -10,570
Interest received 818 916
Other financial items -1,678 -5,501
Income taxes paid -14,206 -14,596
Net cash flow from operating activities 186,495 172,189
Cash flow from investing activities
Investments in tangible and intangible assets -201,860 -195,374
Sale of tangible and intangible assets 29,543 34,506
Acquisition of subsidiares and business operations, net of cash acquired  6 -9,064 -3,999
Disposals of subsidiaries and business combinations 27,969
Net cash flow from investing activities -153,412 -164,867
Cash flow from financing activities
Change in interest-bearing receivables 2,779 2,352
Change in finance lease liabilities  29 -1,640 -7,592
Proceeds from interest-bearing liabilities  29 29,042 61,320
Repayments of interest-bearing liabilities  29 -36,114 -29,400
Proceeds from exercise of share options 376
Dividends paid -33,348 -28,880
Net cash flow from financing activities -39,281 -1,824
Change in cash and cash equivalents -6,197 5,499
Cash and cash equivalents at beginning of the year 9,099 3,511
Cash and cash equivalents to Disposals -215
Exchange differences -92 89
Cash and cash equivalents at year end 2,594 9,099



Business Review Q4 2018

Business Review for January-December 2018 was published on 8 February 2019.


  • 25 Mar 2019Last day to register for AGM
  • 28 Mar 2019Annual General Meeting 2019
  • 1 Apr 2019Dividend record date

Welcome to Cramo Investor pages

Cramo is a service company specialising in equipment rental services, as well as rental of modular space. Our equipment rental services comprise machinery and equipment rental as well as rental-related services.

As one of the industry’s leading service providers in Europe, Cramo operates in Finland, Sweden, Norway, Denmark, Estonia, Lithuania, Poland, Germany, Austria, Hungary, the Czech Republic and Slovakia. In Russia and Ukraine we operate under the brand of the 50 percent owned joint venture Fortrent.

Cramo provides modern rental solutions through the Cramo Concept. Under the Cramo Concept, construction companies and customers in trade, industry and the public sector, as well as private customers, are provided with machinery, equipment and modular space through different rental solutions and services.

By combining the product portfolio with its extensive offering of services, Cramo reduces the capital invested by its customers and can create total rental solutions for every need for both the short and long term.

Through a network of about 300 depots, with a total number of rental items over 230,000, Cramo’s 2,600 employees serve over 150,000 customers in fourteen countries.

Cramo is a Nordic Mid Cap Company in the Industrials sector on Nasdaq Helsinki Ltd.