Ramirent Plc Stock Exchange Release March 15, 2018 at EET 9.00 am
Ramirent Plc announced in its stock exchange release on November 30, 2017 that the Ramirent Group’s reportable five segments as of January 1, 2018 are: Sweden, Finland, Eastern Europe, Norway and Denmark. The new Eastern Europe segment was formed by joining the segments Baltics and Europe Central.
The Eastern Europe segment accounts for 15% of the Group’s total net sales and for one quarter of the Group’s total EBIT. The segment had comparative net sales of EUR 111 million in 2017 with an EBIT margin of 21.2%.
Ramirent has a market leader position in the Eastern Europe segment that covers Poland, Czech Republic, Slovakia, Estonia, Latvia and Lithuania. Ramirent foresees growth opportunities in the segment based on a solid construction market outlook for 2018-20 and a low rental penetration rate in the segment’s markets.
The financial information according to the new segment structure for the financial year 2017 is provided below and as an attachment in an excel file.
| Ramirent Group’s comparatives according to the new segment structure for 2017 | |||||
| NET SALES | Q1 2017 | Q2 2017 | Q3 2017 | Q4 2017 | Full year 2017 |
| (MEUR) | |||||
| Sweden | 60,4 | 63,2 | 64,5 | 72,3 | 260,3 |
| Finland | 42,8 | 46,4 | 49,8 | 52,5 | 191,5 |
| Eastern Europe | 22,8 | 27,0 | 31,6 | 29,6 | 111,0 |
| Norway | 29,0 | 27,9 | 29,1 | 35,2 | 121,2 |
| Denmark | 10,0 | 9,8 | 10,0 | 11,2 | 41,0 |
| Elimination of sales between segments | -0,4 | -0,2 | -0,2 | -0,5 | -1,3 |
| Net sales, total | 164,6 | 174,1 | 184,7 | 200,3 | 723,7 |
| EBITA | Q1 2017 | Q2 2017 | Q3 2017 | Q4 2017 | Full year 2017 |
| (MEUR and % of net sales) | |||||
| Sweden | 8,6 | 8,8 | 11,2 | 10,9 | 39,5 |
| 14,3% | 13,9% | 17,3% | 15,1% | 15,2% | |
| Finland | 3,8 | 6,6 | 9,2 | 6,9 | 26,5 |
| 9,0% | 14,2% | 18,5% | 13,1% | 13,9% | |
| Eastern Europe | 2,9 | 5,9 | 9,1 | 5,8 | 23,7 |
| 12,5% | 22,0% | 29,0% | 19,7% | 21,4% | |
| Norway | 1,5 | 2,2 | 3,6 | 5,2 | 12,5 |
| 5,3% | 7,9% | 12,4% | 14,7% | 10,3% | |
| Denmark | 0,6 | 0,3 | 0,7 | -1,2 | 0,4 |
| 5,8% | 3,3% | 6,6% | -10,5% | 0,9% | |
| Unallocated items | -0,9 | -1,9 | 0,2 | -2,5 | -5,0 |
| Group EBITA | 16,6 | 22,0 | 34,1 | 25,1 | 97,7 |
| 10,1% | 12,6% | 18,4% | 12,5% | 13,5% | |
| Comparable EBITA | Q1 2017 | Q2 2017 | Q3 2017 | Q4 2017 | Full year 2017 |
| (MEUR and % of net sales) | |||||
| Sweden | 8,6 | 8,8 | 11,2 | 10,9 | 39,5 |
| 14,3% | 13,9% | 17,3% | 15,1% | 15,2% | |
| Finland | 3,8 | 6,6 | 9,2 | 6,9 | 26,5 |
| 9,0% | 14,2% | 18,5% | 13,1% | 13,9% | |
| Eastern Europe | 2,9 | 5,9 | 9,1 | 5,8 | 23,7 |
| 12,5% | 22,0% | 29,0% | 19,7% | 21,4% | |
| Norway | 1,5 | 2,2 | 3,6 | 3,9 | 11,2 |
| 5,3% | 7,9% | 12,4% | 11,0% | 9,3% | |
| Denmark | 0,6 | 0,3 | 0,7 | 1,4 | 3,0 |
| 5,8% | 3,3% | 6,6% | 12,7% | 7,3% | |
| Unallocated items | -0,9 | -1,9 | 0,2 | -2,5 | -5,0 |
| Group EBITA | 16,6 | 22,0 | 34,1 | 26,4 | 99,0 |
| 10,1% | 12,6% | 18,4% | 13,2% | 13,7% | |
| EBIT | Q1 2017 | Q2 2017 | Q3 2017 | Q4 2017 | Full year 2017 |
| (MEUR and % of net sales) | |||||
| Sweden | 7,8 | 8,1 | 10,4 | 10,1 | 36,4 |
| 12,9% | 12,8% | 16,2% | 13,9% | 14,0% | |
| Finland | 3,5 | 6,3 | 8,9 | 6,6 | 25,3 |
| 8,3% | 13,5% | 17,9% | 12,5% | 13,2% | |
| Eastern Europe | 2,8 | 5,9 | 9,1 | 5,7 | 23,5 |
| 12,4% | 21,7% | 28,8% | 19,4% | 21,2% | |
| Norway | 0,8 | 1,6 | 3,0 | 4,5 | 10,0 |
| 2,9% | 5,8% | 10,3% | 12,8% | 8,2% | |
| Denmark | 0,5 | 0,2 | 0,5 | -1,3 | -0,1 |
| 4,6% | 2,1% | 5,4% | -11,7% | -0,2% | |
| Unallocated items | -0,9 | -2,2 | 0,0 | -2,6 | -5,7 |
| Group EBIT | 14,6 | 19,8 | 32,0 | 23,0 | 89,3 |
| 8,8% | 11,4% | 17,3% | 11,5% | 12,3% | |
| Comparable EBIT | Q1 2017 | Q2 2017 | Q3 2017 | Q4 2017 | Full year 2017 |
| (MEUR and % of net sales) | |||||
| Sweden | 7,8 | 8,1 | 10,4 | 10,1 | 36,4 |
| 12,9% | 12,8% | 16,2% | 13,9% | 14,0% | |
| Finland | 3,5 | 6,3 | 8,9 | 6,6 | 25,3 |
| 8,3% | 13,5% | 17,9% | 12,5% | 13,2% | |
| Eastern Europe | 2,8 | 5,9 | 9,1 | 5,7 | 23,5 |
| 12,4% | 21,7% | 28,8% | 19,4% | 21,2% | |
| Norway | 0,8 | 1,6 | 3,0 | 3,2 | 8,7 |
| 2,9% | 5,8% | 10,3% | 9,1% | 7,1% | |
| Denmark | 0,5 | 0,2 | 0,5 | 1,3 | 2,5 |
| 4,6% | 2,1% | 5,4% | 11,5% | 6,1% | |
| Unallocated items | -0,9 | -2,2 | 0,0 | -2,6 | -5,7 |
| Group EBIT | 14,6 | 19,8 | 32,0 | 24,3 | 90,6 |
| 8,8% | 11,4% | 17,3% | 12,1% | 12,5% | |
| CAPITAL EMPLOYED | Mar 31, 2017 | Jun 30, 2017 | Sep 30, 2017 | Dec 31, 2017 | |
| (MEUR) | |||||
| Sweden | 204,5 | 212,8 | 221,8 | 212,7 | |
| Finland | 140,7 | 141,3 | 144,4 | 144,8 | |
| Eastern Europe | 118,2 | 126,7 | 130,1 | 129,3 | |
| Norway | 126,0 | 124,4 | 127,1 | 101,5 | |
| Denmark | 30,0 | 31,8 | 32,8 | 32,1 | |
| Unallocated items and eliminations | -4,7 | 16,7 | 12,8 | 34,0 | |
| Group | 614,7 | 653,6 | 668,9 | 654,4 | |
| ROCE (%) | Mar 31, 2017 | Jun 30, 2017 | Sep 30, 2017 | Dec 31, 2017 | |
| Sweden | 13,2% | 13,2% | 16,8% | 17,6% | |
| Finland | 18,1% | 17,7% | 17,4% | 19,1% | |
| Eastern Europe | 12,0% | 14,5% | 17,2% | 19,1% | |
| Norway | -1,0% | -0,7% | 5,7% | 8,8% | |
| Denmark | 6,5% | 5,9% | 5,6% | -0,3% | |
| Group | 7,8% | 8,3% | 13,0% | 13,8% | |
| COMPARABLE ROCE (%) | Mar 31, 2017 | Jun 30, 2017 | Sep 30, 2017 | Dec 31, 2017 | |
| Sweden | 14,4% | 14,4% | 16,8% | 17,6% | |
| Finland | 17,3% | 17,2% | 17,4% | 19,1% | |
| Eastern Europe | 12,5% | 14,9% | 17,6% | 19,1% | |
| Norway | 4,3% | 4,6% | 5,6% | 7,4% | |
| Denmark | 6,5% | 5,9% | 5,6% | 7,9% | |
| Group | 11,2% | 11,4% | 12,9% | 13,8% | |
FURTHER INFORMATION:
Pierre Brorsson, CFO, +46 8 624 9541, pierre.brorsson@ramirent.com
RAMIRENT is a leading rental equipment group combining the best equipment, services and know-how into rental solutions that simplify customer’s business. Ramirent serves a broad range of customer sectors including construction, industry, services, the public sector and households. In 2017, Ramirent Group sales totaled EUR 724 million. The Group has 2,820 employees in 293 customer centers in 10 countries in northern and eastern Europe. Ramirent is listed on the NASDAQ Helsinki (RMR1V). Ramirent – More than machines®.
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