RAMIRENT PLC COMPANY ANNOUNCEMENT 28 NOVEMBER 2013 at 8:00
Ramirent publishes additional financial information connected to today’s Capital Markets Day in Helsinki. Ramirent publishes EBITA and EBITA margin figures by segment level as well as at Group level. EBITA is operating result before amortisation and impairment of intangible assets.
Comparison figures of net sales, EBITA and EBITA margin for 2012 and for the first nine months of 2013 are presented in tables below.
QUARTERLY NET SALES FOR 2012 AND 2013
|
NET SALES |
Q3 2013 |
Q2 2013 |
Q1 2013 |
Q4 2012 |
Q3 2012 |
Q2 2012 |
Q1 2012 |
| (MEUR) | |||||||
| FINLAND | 41.8 | 36.4 | 35.1 | 41.7 | 45.0 | 41.4 | 38.4 |
| SWEDEN | 51.1 | 53.1 | 50.3 | 57.9 | 53.0 | 50.9 | 48.1 |
| NORWAY | 35.9 | 38.8 | 38.1 | 51.0 | 41.1 | 38.1 | 43.7 |
| DENMARK | 11.9 | 11.2 | 9.1 | 12.2 | 11.4 | 11.2 | 9.8 |
| EUROPE EAST | 9.8 | 7.6 | 9.7 | 17.4 | 18.8 | 15.0 | 12.2 |
| EUROPE CENTRAL | 16.9 | 14.1 | 11.0 | 16.2 | 17.9 | 15.3 | 13.3 |
|
Elimination of sales between segments |
−1.2 | −0.4 | −0.4 | −2.3 | −1.4 | −2.2 | −1.2 |
| NET SALES TOTAL | 166.2 | 160.8 | 152.8 | 194.1 | 185.9 | 169.7 | 164.3 |
QUARTERLY EBITA AND EBITA MARGIN FOR 2012 AND 2013
| EBITA |
Q3 2013 |
Q2 2013 |
Q1 2013 |
Restated* Q4 2012 |
Q3 2012 |
Q2 2012 |
Q1 2012 |
| (MEUR and % of net sales) | |||||||
| FINLAND | 10.2 | 6.0 | 3.4 | 7.6 | 11.2 | 7.4 | 5.3 |
| % of net sales | 24.5% | 16.6% | 9.7% | 18.3% | 24.9% | 17.7% | 13.7% |
| SWEDEN | 8.6 | 9.6 | 7.4 | 10.0 | 9.5 | 9.3 | 7.2 |
| % of net sales | 16.8% | 18.0% | 14.6% | 17.2% | 18.0% | 18.3% | 15.0% |
| NORWAY | 6.3 | 7.9 | 5.0 | 7.1 | 7.0 | 6.0 | 4.5 |
| % of net sales | 17.6% | 20.4% | 13.0% | 13.9% | 17.0% | 15.8% | 10.3% |
| DENMARK | −2.01) | −0.0 | −1.4 | 0.9 | 0.8 | 0.3 | −0.1 |
| % of net sales | −17.3%1) | −0.4% | −15.9% | 7.0% | 7.3% | 2.5% | −1.5% |
| EUROPE EAST | 3.5 | 0.1 | 11.02) | 5.0 | 4.4 | 1.7 | 0.0 |
| % of net sales | 35.6% | 0.8% | 113.5%2) | 28.9% | 23.5% | 11.2% | −0.3% |
| EUROPE CENTRAL | 1.23) | 0.4 | −2.3 | 0.4 | 0.6 | 0.4 | −2.0 |
| % of net sales | 7.0%3) | 2.7% | −21.2% | 2.2% | 3.2% | 2.4% | −15.1% |
| Costs not allocated to segments | −1.8 | −1.2 | −0.4 | −1.5 | −1.8 | −0.3 | −0.5 |
| GROUP EBITA | 25.94) | 22.7 | 22.6 | 29.4 | 31.8 | 24.7 | 14.4 |
| % of net sales | 15.6%4) | 14.1% | 14.8% | 15.2% | 17.1% | 14.6% | 8.7% |
1) EBITA excluding non-recurring items was EUR −0.6 (0.8) million or −4.7% (7.3%) of net sales in July–September 2013. The non-recurring items included a EUR 1.5 restructuring provision for the third quarter of 2013.
2) EBITA excluding non-recurring items was EUR 0.9 (0.0) or 9.1% (−0.3%) of net sales in January–March 2013.
The non-recurring items included a non-taxable capital gain of EUR 10.1 million from the formation of Fortrent booked in the first quarter of 2013.
3) EBITA excluding non-recurring items was 3.0 (0.6) million or 18.1% (3.2%) of net sales in July–September 2013. The non-recurring items included a EUR 1.9 million loss from disposal of Hungary.
4) Group EBITA excluding non-recurring items was EUR 29.3 (31.8) million or 17.6% (17.1%) of net sales.
*Retrospective application of amendment to IAS 19 affecting Sweden and Norway segments
NET SALES: JANUARY–SEPTEMBER 2013
| NET SALES | 1–9/13 |
1–9/12 |
Change |
1–12/12 |
| (MEUR) | ||||
| FINLAND | 113.3 | 124.8 | −9.2% | 166.5 |
| SWEDEN | 154.5 | 152.1 | 1.6% | 209.9 |
| NORWAY | 112.8 | 123.0 | −8.3% | 174.0 |
| DENMARK | 32.1 | 32.4 | −1.0% | 44.7 |
| EUROPE EAST | 27.1 | 45.9 | −41.0%1) | 63.3 |
| EUROPE CENTRAL | 42.0 | 46.4 | −9.6%2) | 62.7 |
| Elimination of sales between segments | −2.0 | −4.7 | −7.1 | |
| Net sales, total | 479.8 | 519.9 | −7.7%3) | 714.1 |
1) Adjusted for the transfer of the Russian and Ukrainian operations to Fortrent as of March 1, 2013 net sales increased by 3.5% in January-September 2013.
2) Adjusted for the divestment of the Hungarian business the decrease in net sales was 8.1% in January-September 2013.
3) Adjusted for transferred or divested operations, net sales decreased by 4.0% in January-September 2013 at comparable exchange rates.
EBITA AND EBITA MARGIN: JANUARY–SEPTEMBER 2013
| EBITA | 1–9/13 |
*Restated 1–9/12 |
Change |
*Restated 1–12/12 |
| (MEUR) | ||||
| FINLAND | 19.7 | 23.8 | −17.4% | 31.4 |
| % of net sales | 17.4% | 19.1% | 18.9% | |
| SWEDEN | 25.5 | 26.1 | −2.4% | 36.1 |
| % of net sales | 16.5% | 17.2% | 17.2% | |
| NORWAY | 19.1 | 17.5 | 9.4% | 24.6 |
| % of net sales | 17.0% | 14.3% | 14.1% | |
| DENMARK | −3.51) | 1.0 | n/a | 1.8 |
| % of net sales | −11.0%1) | 3.0% | 4.1% | |
| EUROPE EAST | 14.62) | 6.0 | 140.9% | 11.1 |
| % of net sales | 53.8%2) | 13.2% | 17.5% | |
| EUROPE CENTRAL | −0.83) | −1.1 | −27.2% | −0.7 |
| % of net sales | −1.9%3) | −2.3% | −1.1% | |
| Costs not allocated to segments | −3.4 | −2.5 | −4.0 | |
| GROUP EBITA | 71.24) | 70.9 | 0.4% | 100.3 |
| % of net sales | 14.8%4) | 13.6% | 14.1% |
1) EBITA excluding non-recurring items was EUR −2.0 (1.0) million or −6.4% (3.0%) of net sales in January–September 2013. The non-recurring items included the EUR 1.5 restructuring provision for the third quarter of 2013.
2) EBITA excluding non-recurring items was EUR 4.4 (6.0) or 16.4% (13.2%) of net sales in January–September 2013.
The non-recurring items included the non-taxable capital gain of EUR 10.1 million from the formation of Fortrent booked in the first quarter of 2013.
3) EBITA excluding non-recurring items was 1.1 (−1.1) million or 2.6% (−2.3%) of net sales in January–September 2013. The non-recurring items included the EUR 1.9 million loss from disposal of Hungary.
4) Group EBITA excluding non-recurring items was EUR 64.4 (70.9) million or 13.4% (13.6%) of net sales.
*Retrospective application of amendment to IAS 19 affecting Sweden and Norway segments
Vantaa, 28.11.2013
RAMIRENT PLC
Magnus Rosén
President and CEO
FURTHER INFORMATION:
Franciska Janzon, SVP, Marketing, Communications and IR, tel. +358 20 750 2859
DISTRIBUTION:
NASDAQ OMX Helsinki Ltd
The main media
www.ramirent.com
Ramirent is a leading equipment rental group delivering Dynamic Rental Solutions™ that simplify business. We serve a broad range of customers, including construction and process industries, shipyards, the public sector and households. In 2012, the Group’s net sales totalled EUR 714 million. The Group has 2,600 employees at 306 customer centres in 10 countries in the Nordic countries and in Central and Eastern Europe. Ramirent is listed on the NASDAQ OMX Helsinki Ltd.