Consolidated cash flow statement


EUR 1,000 Note 1 Jan – 31 Dec 2019 1 Jan – 31 Dec 2018
Cash flow from operating activities
Profit before tax* 438,174 105,268
  Depreciation, amortisation and  impairment 154,822 124,754
  Share of profit of joint ventures 8 -181 -503
  Other non-cash corrections 31 -382,706 -12,423
  Finance cost (net) 16,660 14,228
Operating profit before changes in working capital 226,769 231,325
Change in working capital
  Change in inventories -1,199 550
  Change in trade and other receivables 22,420 -2,007
  Change in trade and other payables -4,329 2,460
Cash generated from operations before financial items and tax 243,661 232,328
Interest paid -16,621 -13,245
Interest received 923 770
Other financial items -249 -7,314
Income taxes paid -14,767 -17,050
Net cash flow from operating activities 212,947 195,489
Cash flow from investing activities
Investments in tangible and intangible assets -124,094 -212,735
Sale of tangible and intangible assets 22,690 26,917
Acquisition of subsidiares and business operations, net of cash acquired 7 -756 -160,037
Net cash flow from investing activities -102,160 -345,855
Cash flow from financing activities
Change in interest-bearing receivables 23,573 3,048
Repayments of finance lease liabilities  32 -40,982 -2,395
Proceeds from interest-bearing liabilities  32 118,000 270,721
Repayments of interest-bearing liabilities  32 -170,193 -80,155
Dividends paid -40,148 -37,878
Net cash flow from financing activities -109,750 153,340
Change in cash and cash equivalents 1,037 3,847
Cash and cash equivalents at beginning of the year 6,391 2,595
Cash and cash equivalents to demerged companies -80
Exchange differences -90 -51
Cash and cash equivalents at year end 7,257 6,391

*Profit before tax consists of following items:

Profit before taxes, continuing operations                                                                                                                                 48,753

Profit from discontinued operations, net of tax                                                                                                                      386,026

Income taxes of demerged operations added                                                                                                                               3,395

 Profit before tax                                                                                                                                                                                                  438,174



Welcome to Cramo Investor pages

Cramo is a service company specialising in equipment rental services. 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, 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 and equipment 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 eleven countries.