Economic uncertainty has increased in Europe, which may have an impact on construction growth going forward. Also for Cramo’s business operations the risk level is now higher.
The uncertainty of the financial market has not yet had any significant effects on Cramo’s business. On the contrary, the recovery in construction strengthened in some market areas during the summer, including Norway, Latvia and Russia. According to most recent local market forecasts published in October, construction activity in Finland and Sweden will remain at approximately the level of 2011 in 2012.
Cramo believes that in spite of the general economic uncertainty, rental services continue to be a growth industry. Arrangements whereby companies outsource their equipment fleet to a rental service company are attractive to many companies, especially in periods of uncertainty.