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Sarens entered US Heavy lift and heavy haul space in 2009 by acquiring Rigging International, a company based in California. We officialy changed the name to Sarens USA, INC. in 2012.

Sarens USA, INC has offices in Houston from where we cover the Gulf area, in Wisconsin from where we cover the Midwest, and in Rowesville from where we cover the East coast.


We provide Engineered Heavy Lifting Services

Heavy Lifting

  • We provide Project-based heavy lift services
  • Turnaround maintenance
  • Installation of turbines & generators
  • Erection of steel structures
  • Erection of heat exchangers
  • Installation of mechanical equipment, drums, casing / inlet ducts, vessels, pumps

Heavy Transport Services

  • Out of Gauge and abnormal load transport
  • Project based heavy transport
  • Rental of specialized transport equipment
  • Factory-to-Foundation

Decomissioning and Dismantling Services

Rental Services

  • We provide bare lease as well as operated rentals services
  • Skidding & jacking


  • New nuclear plant construction
  • Operating nuclear plant
  • Small Modular Reactor (SMR)
  • Decommissioning
  • Department of Energy (DOE)
  • Government
  • Thermal power plants
  • Oil & Gas
  • Petrochemical
  • Major civil projects including:
    • Airports
    • Bridges
    • Stadia
    • Ports & yards
    • Oversized heavy haul


  • Hydraulic cranes
  • Cranes ranging from 90T to 3200T
  • Hydraulic jacks
  • Strand jacks
  • Self Propelled Modular Trailers
  • Semi trailers
  • Out of Gauge transport


Sarens USA
10855 John Ralston Rd
Houston, Texas 77044
+ 1 832 536 3669
+ 1 832 615 2678

Sarens USA
9204-A Highway 61
Sorrento, Louisiana 70778
+ 1 225 450

Sarens Nuclear & Industrial Services
122 River Drive
Rowesville, South Carolina 29133
+ 1 803 534 1348
+ 1 803 535 6093

Sarens Nuclear & Industrial Services
1430 South Goodland Road
Hartford, WI 53027
+ 1 414 299 0858

Financial Information

2019 strong financial performance on the back of excellent project execution and focus on increased efficiency in rental services.


The Turnover (including WIP) increased by 11.9% from €593.1 million in 2018 to €663.6 million in 2019.

The turnover growth mainly resulted from the continued good performance on the TCO project, full ramp-up of Hinkley Point in the UK, and solid rental operations, in particular in Canada, USA, Mexico and Central and Eastern Europe where the strategic re-focus started bearing its fruits.

The Own Turnover, defined as Turnover minus Subcontracting, increased by 16.8% from €439.2m in 2018 to €513.1 million in 2019 as the equipment from the front loaded capex program of previous years is now fully contributing to the turnover.

The total operating charges remained stable at €622.6 million in 2019 compared to 621.2m in 2018.

Purchases decreased from €89.3 million in 2018 to €68.7 million in 2019, mainly as a result of the completion of the construction of the SGC250 by the end of 2018, partially undone by the purchases of additional supporting equipment required for the TCO project in 2019.

Other goods & services increased from €248.7 million in 2018 to €256.5 million in 2019 as a result of increased project-related travel & lodging and maintenance & repair of equipment.

Personnel costs slightly increased by 1.3%from €179.1 million in 2018 to €181.4 million in 2019.

This resulted in an all-time high EBITDA of €165.8 million in 2019, compared to €127.2 million in 2018, an increase of about 30%, on the back of close cost control and as a direct result of the increase in Own Turnover.

Depreciation remained stable at €92.3m in 2018, compared to €94.0m in 2019. Provisions for doubtful debtors and impairments on contracts in progress reduced from €8.2 million in 2018 to 5.4 million in 2019. Provisions for risks and costs related to dispute settlement and litigations amounted to €4.8 million.

The Earnings Before Interest and Taxes (EBIT) improved from 30.3 million in 2018 to €61.6 million in 2019.

In 2019, Net Financial Result was positively affected by favourable currency fluctuations, both realized and unrealized, of €9.7 million compared to a negative impact of these currency fluctuations of €12.6 million in 2018.

Net Extraordinary Result remained limited to minus €2 million compared to minus €21.8 million in 2018, of which €19.2 million were related to additional depreciation charges resulting from the updated valuation rules.

Income Tax Expenses increased from €2.8 million in 2018 to €16.4 million in 2019.

Net Result of the company came out at a profit €18.4 million in 2019, compared to a loss of €39.9 million in 2018. As a reminder, the results or previous years were significantly impacted by:

  • costs related to the restructuring of some regions (LATAM, SAFR, AU in 2016-2017);
  • FX results (to a large extend non-realized translation results running through P&L); and
  • the underperformance on a few wind farm projects in Oceania in 2018.


The balance sheet total slightly decreased from €1,375.4 million at the end 2018 to €1,354.9 million at the end of 2019.

Tangible Fixed Assets amounted to €1,025.7 million at the end of 2019 compared to €1,058.9 million at the end of 2018, hence representing 75% of the balance sheet total, and mainly consisted of high-end heavy lifting and complex transport equipment for which an active global market exists in terms of project work, rental services and second hand trading.

Trade Receivables amounted to €169.9 million at the end of 2019 compared to €182.9 million at the end of 2018, which reflects the efforts made by our receivables collection teams.

Working capital increased from €16.7 million at the end of 2018 to €87.5 million at the end of 2019, mainly as a result of the consumption of advance payments received on projects and the payment of long term suppliers.

Net Financial Debt only slightly increased by 1.9% from €726.4 million at the end of 2018 to €740.0 million at the end of 2019, despite the significant working capital increase.

In February 2020, the company successfully refinanced its 2022 maturing HY Bond by a new €300.0 million HY bond maturing in 2027. This resulted in a material extension of the debt maturity profile and created additional liquidity headroom for the group. In addition, the existing senior revolving credit facility was extended by two years.


The strong EBITDA performance of 2019 does not fully translate into an increased Cashflow from Operations as a result of the one-off working capital swing.

The Cashflow from Operations amounted €72.9 million in 2019 compared to €115.0 million in 2018, including a change in working capital of €-72.2 million in 2019 compared to €+2.8 million in 2018.

Capital Expenditures amounted to €49.1 million in 2019, which is significantly lower than in previous years as the expansion capex program was materially completed. Capital Expenditures in 2019 mainly relate to the replacement existing mobile crane fleet.

Cash balance amounted to a healthy level of €46.0 million at the end of 2019.

As a result of the strong financial performance in 2019, leverage ratios decreased well ahead of the levels agreed with our financing partners, which resulted in adequate covenant headroom at the end of 2019.

Ludo Verrijken