Financials

With a strong activity growth in newly developed markets Sarens was able to compensate the sales decline in rental business and delays in the project segment. With the help of the SGC 120 (own work capitalized) the operating income even increased to EUR 431 million, but because recurrent turnover decreased to EUR 384 million, the operating profit ended lower at EUR 51.6 million. The EBITDA (at EUR 120.6 million) margin increased to 31.4% related to turnover (2009: 30.3%).

Notwithstanding the global economical turmoil and the political unrest in the Arabic world, Sarens continued the development of the regional structure and the expansion of its fleet in the high growth, high margin regions. In addition, equipment was moved on a permanent basis to Australia, India, and Mexico.

During the year Sarens invested again a high amount into its equipment fleet. For over EUR 120 million acquisitions were realized (including own construction and including replacement of equipment). These additions were needed to put equipment at the disposal of our newly developed operations in India, Australia and Mexico, to further support our global presence and to prepare our entities for the anticipated growth in the project business (heavy duty equipment).

For more information, please contact us at info@sarens.com