Cramo updates its strategy, financial targets and gives guidance for 2020
Cramo Plc Inside information 12 September 2019 at 12.15 pm Swedish time (CET)
Cramo updates its strategy, financial targets and gives guidance for 2020
Cramo organises a Capital Markets Day for institutional investors, analysts and media in Stockholm today on 12 September 2019. The purpose of the day is to present the Group’s new strategy and updated financial targets in more detail and outline key actions and initiatives to deliver on the strategy.
Cramo NXT – Strategy until 2023
The core of the new strategy Cramo NXT is built on the vision of becoming “Your productivity partner in rental and beyond”. The new strategy focuses on growth, further enhancing operational efficiency, strengthening market position in industrial segment, increasing service offering and developing innovative digital solutions to improve customer efficiency. The key strategic objectives of the new strategy are:
- Top-tier performance – to increase operational efficiency
- Stronghold in the industrial segment – to expand the business and balance cyclicality
- Leading partner for services – to provide a differentiated service offering promoting long-term customer partnerships
- Digital leader – to increase the productivity for our customers through digital initiatives
“Following the partial demerger and the spin-off of the Modular Space division at the end of June, Cramo has now full focus on Equipment Rental business development, where we see further potential to improve our performance and differentiate ourselves from the competition. With our new Cramo NXT strategy we aim to help our customers to succeed in their businesses even better by combining our services and digital innovations to create solutions which will improve the efficiency and productivity of our customers everyday operations.
To level out more cyclical construction business, we also drive to further develop our strong position in the industrial segment in all our operating countries. Cramo is a trusted brand with a strong product offering, loyal customers and highly engaged employees. We are well-positioned in our key markets and strongly believe that our Cramo NXT strategy enables us to capture the market opportunities even further”, says Leif Gustafsson, President and CEO of Cramo Group.
New financial targets
Cramo has also set new financial targets for 2019-2023 based on Cramo NXT strategy. The new financial targets are:
- Double-digit EPS growth between 2019 and 2023
- Operative ROCE > 15% by end of 2023
- Net debt to EBITDA lower than 3.0x
- Dividend pay-out ratio > 50% of EPS
Guidance for 2020
Cramo estimates, that its comparable EBITA for 2020 will be above EUR 75 million.
Capital Markets Day presentation materials
The presentation material of the day will be available on Cramo’s website www.cramogroup.com on 12th September at approximately 12.30 (CET). A recording of the event will be available on the same website after the event. The presentations and materials are in English.
President and CEO
Nasdaq Helsinki Ltd
Cramo is one of the leading European equipment rental services companies with revenue of EUR 632 million in 2018, serving approximately 150,000 customers through around 300 depots across 11 markets with a full range of machinery, equipment and related services. Cramo enjoys solid market position in all key markets and has a strong focus on the most sophisticated customers primarily within the renovation and new-build construction, industrial and public sector end-markets. Cramo shares (CRA1V) are listed on Nasdaq Helsinki Ltd.
Read more: www.cramogroup.com, www.twitter.com/cramogroup
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