Cramo Oyj reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2012. For the quarter, the company reported sales of EUR 161.4 million against EUR 161.1 million a year ago. EBITDA was EUR 39.6 million against EUR 38.2 million a year ago. Operating profit (EBIT) was EUR 11.4 million against EUR 11.7 million a year ago. Profit before tax (EBT) was EUR 6.1 million against EUR 5.8 million a year ago. Profit was EUR 4.7 million or EUR 0.11 per diluted share against EUR 3.4 million or EUR 0.08 per diluted share a year ago.

For the six months, the company reported sales of EUR 321.4 million against EUR 305.4 million a year ago. EBITDA was EUR 75.7 million against EUR 63.5 million a year ago. Operating profit (EBIT) was EUR 19 million against EUR 11.5 million a year ago. Profit before tax (EBT) was EUR 8.5 million against EUR 1.9 million a year ago. Profit was EUR 6.5 million or EUR 0.15 per diluted share against loss of EUR 2.5 million or EUR 0.07 per diluted share a year ago. Return on equity was 6.8% against 1.9% a year ago. Gross capital expenditure for was EUR 65.1 against EUR 185.5 million a year ago. Net cash flow from operating activities was EUR 53,379,000 against EUR 32,357,000 a year ago.

The group has modified its guidance for 2012. The group expects sales will be approximately at the same level as in 2011 and the EBITA margin will improve compared with 2011. Gearing will decrease due to positive cash flow. The old guidance was: in 2012, the group's sales will grow and the EBITA margin will improve compared with 2011. Gearing will decrease due to positive cash flow. The modification has been triggered by increasing market uncertainty and the sale of the modular space production and customized modular space rental businesses in Finland.