RAMIRENT PLC STOCK EXCHANGE RELEASE DECEMBER 4, 2017 at 04:15 pm EET
The European Investment Bank (EIB) and Ramirent have signed a 50 million euro loan agreement. The EIB loan underlines the strength and sustainability of Ramirent’s business model.
Ramirent wants to change the industry’s traditional culture of machinery ownership, improve productivity and safety on construction sites. Ramirent has put special focus on meeting the increasing demand for sustainable and responsible solutions in the field of safety in particular. Ramirent has invested in its own R&D department, and has developed and patented several innovative rental products with unique safety features.
“We are delighted to have secured this competitive financing from a major European financing institution such as the EIB on the basis of the sustainable business model that Ramirent represents. We are further encouraged to continue increasing the attractiveness of renting versus owning through improving our service levels and offering especially towards the small and medium-sized businesses,” says Tapio Kolunsarka, Ramirent’s President and CEO.
The EIB places great importance on the environment and efficient use of resources, and business models based on innovations, sharing, re-using and growth are in the bank’s interests. Ramirent has proved to be a company that fulfills those requirements with its rental equipment business. Ramirent leads the way to a more sustainable economy by extending the life of construction equipment and increasing their use.
“Sharing is caring,” said Vice-President Alexander Stubb, responsible for EIB operations in Northern European countries. “And the EU Bank very much cares about environmental impact and the reasonable use of scarce resources. Business models based on sharing and re-using common goods such as Ramirent’s – Ramirent’s equipment is used more than double the rate of equipment that is purchased and not rented – help to extend the life and use of products and lead the way to a more sustainable economy.”
The agreement was made possible by the European Fund for Strategic Investments (EFSI), the central pillar of the Investment Plan for Europe. It was launched by the EIB Group and the European Commission to boost the competitiveness of the European economy.
Ramirent has committed long-term senior credit facilities in total of EUR 545 million. On September 30, 2017, Ramirent’s net debt was EUR 369.9 million.
For further information Pierre Brorsson, EVP and Chief Financial Officer (CFO) tel. +46 8 624 9541, pierre.brorsson@ramirent.com
Franciska Janzon, SVP, Marketing, Communications and IR tel. +358 20 750 2859, franciska.janzon@ramirent.com
RAMIRENT is a leading rental equipment group combining the best equipment, services and know-how into rental solutions that simplify customer’s business. Ramirent serves a broad range of customer sectors including construction, industry, services, the public sector and households. In 2016, Ramirent Group sales totaled EUR 665 million. The Group has 2,771 employees in 298 customer centers in 10 countries in Europe. Ramirent is listed on the NASDAQ Helsinki (RMR1V). Ramirent – More than machines®.
