06.08.2013

Mills Rental up another 48%

The aerial lift and telehandler ‘Rental’ division of Brazilian based Scaffolder Mills has reported a strong first half.

The group as a whole saw revenues rise 31.4 percent to R400.2 million ($174 million) with pre-tax profits of R113.8 million ($49,500) for the six months.

Meanwhile the Rental division, which is largely made up of aerial lifts and telehandlers, reported first half revenues of R166.3 million ($72,300), 48 percent higher than in the same period last year. EBITDA for the division was R92.9 million ($40,400). Capital expenditure was R142.6 million ($62 million)

Looking at the second quarter, revenues were up 62.6 percent to R90.1 million (39.2 million), while earnings grew by a more modest $57 percent to R49.3 million ($21.4 million). The improvement was due to a larger fleet, while maintaining utilisation levels.

The company said: “We opened five new branches in 2Q13: Brasília, in the Federal District; Goiânia, in Goiás; Itajaí, in Santa Catarina; Manaus, in Amazonas; and Rio Grande, in Rio Grande do Sul. Our goal is to open six more branches and end the year 2013 with 29 branches.”