Cramo publishes additional information on its acquisition of Nordic Modular Group

Cramo Plc     Stock exchange release      26 June 2018 at 9.20 pm (EET)

Cramo publishes additional information on its acquisition of Nordic Modular Group

Cramo announced today that it strengthens its position in the Nordic modular space market and expands its business model to include inhouse development and production of modular solutions by signing an agreement to acquire the Swedish based Nordic Modular Group Holding AB ("Nordic Modular Group", "NMG") from Strukturfonden HC11 AB, a subsidiary of Nalka Invest AB ("Nalka Invest"), and certain minority shareholders.

By this announcement, Cramo discloses selected additional information on the historical consolidated financial performance and financial position of NMG. The selected financial information presented below is based on NMG’s audited consolidated financial statements for the year ended 31 December 2017, prepared in accordance with the International Financial Reporting Standards (IFRS).

SEK millions1 January – 31 December
 2017 2016 
Net sales779   797 
EBITA           156*155 
EBITA %20 %19%
 As at 31 December
 2017 2016 
Fixed assets1,699 1,537 
Net debt (reported)    1,088**          947**
Total assets / Equity and liabilities                                                             1,940 1,795 

* The EBITA for the operative group, comprising of the subsidiaries of Nordic Modular Group Holding AB, was SEK 160 million in 2017.

** Net debt defined as: interest bearing liabilities to financial institutions and current shareholders, and shareholders’ contribution liabilities offset by the cash balance and interest bearing receivables. 

Leif Gustafsson, CEO and President of Cramo Group, commented earlier today:  “The acquisition is fully in line with our Shape and Share strategy and will strengthen Cramo’s position in the Nordic modular space market supporting our ambitions to grow profitably. NMG is an ideal complement to our current modular business operations, strengthening our competitiveness in the Nordics and creating a platform for further international expansion. As announced in December 2017, we are investigating the separation and potential demerger of the Modular Space (Cramo Adapteo) business division. This assessment of different strategic alternatives continues and will be carried out during 2018. By bringing inhouse development and production capabilities, the acquisition of NMG further strengthens Cramo’s Modular Space business on the overall Nordic modular space market and is therefore expected to increase Cramo’s latitude in exploring strategic alternatives for the Modular Space business. In addition, the transaction expands our business model and enables the development of new products and customer solutions.”

The acquisition has no effect on the market outlook Cramo disclosed in its business review for Q1/2018, published on 25 April 2018.

The transaction is subject to merger control clearance from SCA (Swedish Competition Authority). Cramo expects that the acquisition of NMG to be closed during the end of 2018.


Leif Gustafsson
President and CEO

Further information:  

Leif Gustafsson, President and CEO, tel: +46 70 691 2550
Aku Rumpunen, CFO, tel: +358 40 556 3546,
Mattias Rådström, SVP Marketing, Communications and Investor Relations, tel: +46 70 868 70 45,



Nasdaq Helsinki Ltd
Main media

Cramo is Europe’s second largest rental services company specialising in construction machinery and equipment rental and rental-related services as well as the rental of modular space. Cramo operates in about 300 depots in fourteen countries. With a group staff around 2,500, Cramo's consolidated sales in 2017 was EUR 729.5 million. Cramo shares are listed on Nasdaq Helsinki Ltd.

Cramo Adapteo is the sub-brand for Cramo’s modular space operations. 

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