Ramirent Oyj Reports Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2018; Reiterates Earnings Guidance for 2018
August 08, 2018 at 02:00 am EDT
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Ramirent Oyj reported consolidated earnings results for the second quarter and six months ended June 30, 2018. For the quarter, the company reported net sales were EUR 186,391,000 compared to EUR 174,130,000 a year ago. EBIT was EUR 26,627,000 compared to EUR 19,832,000 a year ago. EBT was EUR 23,868,000 compared to EUR 16,192,000 a year ago. Result for the period was EUR 19,565,000 compared to EUR 12,634,000 a year ago. Result for the period attributable to shareholders of the parent company was EUR 19,565,000 compared to EUR 12,634,000 a year ago. Earnings of EUR 0.18 per basic and diluted share compared to EUR 0.12 per basic and diluted share a year ago. Net cash flow from operating activities was EUR 45,272,000 compared to EUR 35,054,000 a year ago.
For the six months, the company reported net sales were EUR 362,586,000 compared to EUR 338,741,000 a year ago. EBIT was EUR 48,450,000 compared to EUR 34,385,000 a year ago. EBT was EUR 43,195,000 compared to EUR 27,137,000 a year ago. Result for the period was EUR 34,747,000 compared to EUR 21,143,000 a year ago. Result for the period attributable to shareholders of the parent company was EUR 34,747,000 compared to EUR 21,143,000 a year ago. Earnings of EUR 0.32 per basic and diluted share compared to EUR 0.20 per basic and diluted share a year ago. Net cash flow from operating activities was EUR 78,412,000 compared to EUR 71,509,000 a year ago. ROCE was 15.7% compared to 8.4% a year ago. ROE was 26.9% compared to 11.4% a year ago. Net debt as on June 30, 2018 was EUR 390.6 million.
In 2018, the company's comparable operating profit level is expected to increase from the level of last year. The company expects to continue to improve the cash flow in the second half of the year versus that in the first half of this year.
Ramirent Oyj is a Finland-based company engaged in the provision of equipment rental products and services. The Companyâs Equipment Rental is divided into eight product categories: Light Machinery, Heavy Machinery, Lifts, Power and Heating, Modules, Tower Cranes and Hoists, Scaffolding and Safety and Support Equipment. The Companyâs services comprise work site planning and condition monitoring, on-site support, logistics and fuel services, as well as safety planning and training. Ramirent Oyj offers solutions for customers within different sectors, including construction, industry, services and retail, public sector and households. The Company operates in Finland, Sweden, Norway, Poland, Czech Republic, Slovakia, and Baltic states.