17.09.2014

Cramo cuts 2014 forecasts

Cramo has changed its sales and profit forecasts for full year 2014 from being better than 2013 to being lower.

The guidance originally said: “In 2014, Cramo group’s EBITA margin will continue to improve compared to 2013. Cramo group’s sales is also expected to grow in 2014, however, exact sales is exposed to changing exchange rates.”

As of today it has been changed to: ”In 2014, Cramo group’s sales and EBITA margin will be lower compared to 2013.”

The statement announcing the changes went on to say: “Cramo is currently seeing signs of recovery in several rental markets. However, the general economic situation in Europe has reduced Cramo’s sales expectations for the third quarter of 2014. The exchange rates are also having a negative impact on the group´s euro-based sales. Cramo is putting increased efforts to its transition program in Central Europe, but the effects are taking longer than expected. The group´s other performance improvement actions are proceeding according to plan”.