Vantaa, Finland, 2014-12-16 16:45 CET (GLOBE NEWSWIRE) --
Magnus Rosén, President and CEO comments: “Due to the accelerating impact on our main markets of geopolitical uncertainty combined with rapidly declining oil price, we anticipate a moderate decline in the net sales level in the fourth quarter compared to fourth quarter 2013. As a result, our investments in the rental fleet are held back. In addition, we are taking further measures to improve the performance. Restructuring measures and write-downs are expected to have a EUR 4 million negative effect on fourth quarter 2014 EBITA.”
The updated Ramirent outlook is:
“Ramirent’s fourth quarter 2014 net sales are expected to decline moderately compared to fourth quarter 2013. Contingency actions are being undertaken and the full year 2014 EBITA will be further impacted negatively by restructuring measures and write-downs of approximately EUR 4 million in the fourth quarter 2014. Full year 2014 capital expenditure on non-current assets, excluding acquisitions, is expected to be approximately 10% lower than in 2013.”
The previous Ramirent outlook was:
“The economic growth in 2014 is expected to be modest and construction market demand remains mixed in our core markets. Ramirent will maintain strict cost control and, for 2014, capital expenditure is expected to be around the same level as in 2013. The strong financial position will enable the Group to continue to address profitable growth opportunities.”
Ramirent will release its full year 2014 results on 12 February 2015.
RAMIRENT PLC
Magnus Rosén
President and CEO
FURTHER INFORMATION
Magnus Rosén, President and CEO, tel. +358 20 750 2845
Jonas Söderkvist, CFO and EVP Corporate Functions, tel.+358 20 750 3248
DISTRIBUTION:
NASDAQ OMX Helsinki
Main news media
www.ramirent.com
Ramirent is More Than Machines™. We are a leading rental equipment group combining the best equipment, services and know-how into rental solutions that simplify customer business. We serve a broad range of customers, including construction and process industries, services, the public sector and households. In 2013, Group sales totalled EUR 647 million. The Group has 2,600 employees at 302 customer centres in 10 countries in the Nordic countries and in Central and Eastern Europe. Ramirent is listed on the NASDAQ OMX Helsinki Ltd.