Ramirent Oyj Reports Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2016; Provides Earnings and Dividend Guidance for the Full Year of 2017
February 17, 2017 at 02:00 am EST
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Ramirent Oyj reported consolidated earnings results for the fourth quarter and year ended December 31, 2016. For the quarter, the company reported net sales of 180.5 million against 170.5 million a year ago. EBITDA was 47.9 million against 43.7 million a year ago. EBITA was 21.2 million against 16.8 million a year ago. EBIT was 19.2 million against 14.6 million a year ago. EBT was 12.3 million against 12.7 million a year ago. Result for the period attributable to the owners of the parent company was 12.5 million or 0.12 basic and diluted per share against 11.5 million or 0.11 basic and diluted per share a year ago. Net cash flow from operating activities was 57.15 million against 45.00 million a year ago. Acquisition of businesses and subsidiaries, net of cash was 7.10 million against 5.78 million a year ago. Gross capital expenditure was 47.0 million compared to 42.0 million a year ago.
For the year, the company reported net sales of 665.2 million against 635.6 million a year ago. EBITDA was 169.0 million against 168.1 million a year ago. EBITA was 59.2 million against 66.8 million a year ago. EBIT was 38.5 million against 57.9 million a year ago. EBT was 28.1 million against 46.9 million a year ago. Result for the period attributable to the owners of the parent company was 22.0 million or 0.20 basic and diluted per share against 39.0 million or 0.36 basic and diluted per share a year ago. ROE was 7.2% against 12.1% a year ago. Net debt was 345.8 million against 280.9 million a year ago. Net cash flow from operating activities was 167.9 million against 136.32 million a year ago. Acquisition of businesses and subsidiaries, net of cash was 0.835 million against 11.98 million a year ago. Gross capital expenditure was 190.8 million compared to 139.2 million a year ago.
In 2017, company's comparable EBITA is expected to increase from the level in 2016.
The Board of Directors proposes a dividend of 0.40 compared to 0.40 per share, paid in two installments.
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.
Ramirent Oyj Reports Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2016; Provides Earnings and Dividend Guidance for the Full Year of 2017