Extract from stock exchange release published on 3rd November, 2009

During the third quarter, markets were seen stabilising, and there were some early signs of recovery. However, because of the cyclical nature of the construction industry and low investment levels in industry, Cramo expects the Group’s economic operating environment to continue on a low level towards year end. Government actions to stimulate economic recovery in the various sectors of construction – particularly in civil engineering – will balance some of the recessionary effects. In the modular space business, long-term agreements will moderate the cyclical fluctuations in Cramo’s operations.

Having completed major restructurings, certain cost cuts will still continue. The reduction in headcount will be approximately 30 per cent in 2009, compared with August 2008. Other actions aim at an efficiency increase and better rental equipment fleet utilisation rates. The adjustments are expected to generate cost savings of approximately EUR 35 million in 2009. Y-o-y, in 2010, the cost burden will be reduced by approximately EUR 50 million.

The demand for equipment rental services might continue to decrease in many markets in the first half of 2010. Recent reports on signs of early recovery and increasing residential construction, support a forecast according to which the demand for equipment rental services might see an upswing in the second half of 2010. However, there are still significant uncertainties associated with 2010 forecasts.

The Group’s gross capital expenditure in 2009 will be approximately EUR 30–35 million and mainly allocated to the purchase of modular space. In 2009, fleet management activities have focused on optimising equipment utilisation between Cramo’s market areas and the disposal of obsolete equipment. The Group anticipates the low level of investments to continue also in 2010.

The weakening of several European currencies against the euro will have a negative effect on Cramo Group’s 2009 figures compared to last year.

The Group’s cash flow after investments will be positive in 2009. We expect H2/09 EBITA to improve over H1/09 EBITA.

HALF YEAR FINANCIAL REPORT FOR JANUARY-JUNE 2018 PUBLISHED

Calendar

  • 18 Jan 2019 - 7 Feb 2019Silent period
  • 8 Feb 2019Financial Statements Bulletin 2018
  • 4 Mar 2019 - 8 Mar 2019Annual Report 2018 published in week 10

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.