Our market position in Scandinavia has been strong for years – but we can ensure further growth and profitability by spreading our business to less cyclical customer segments. In Sweden, we hold an established position as one of the top two rental partners. In Norway, we are well-equipped to further strengthen our position as one of the top players in the market. We want to grow along with our customers in both of these markets. We aim for digital leadership and to help customers increase their productivity through our effective and transparent digital business models.

Based on forward-looking rental market analyses and the ongoing digital transformation in our society, our new Cramo NXT strategy clearly defines the adjustments needed to secure our long-term profitability. We will further focus on our customer offerings and all the enabling activities for the coming business period.

Henrik Norrbom
Executive Vice President, Scandinavia, Cramo

Business environment

Scandinavia accounts for some 55% of the Group’s revenue. There is a strong tradition of renting instead of owning, and services are expected.

In 2019, Cramo held the biggest market share in Sweden. Outside the market’s top two players, who have a national presence, there are smaller competitors who are more scattered and have local strongholds. The market growth has been levelling out, and a decline in residential building can already be detected as a precautionary reaction to market uncertainty. Public sector construction projects are still expected to grow, albeit at a slower pace. The market share in bigger projects, like infrastructure and industrial projects, remains lucrative, thanks to less volatility, longer contracts, comprehensive orders and skilled procurement.

The market continues to be strong in Norway, where the building and construction market is expected to grow and is being driven especially by big new infrastructure projects and the building of hospitals for the public sector. The competition is strong with more than 200 rental companies, and the market leader is estimated to have a market share of some 13%. Cramo is building towards becoming one of the top two players in the Norwegian market.


Digital fleet management

All Cramo digital tools are fully accessible in all markets in Scandinavia. The ongoing digital transformation is driving us to further expand our digital offering with even more smart tools and services that increase our customers’ efficiency and profitability. Supported by our new strategy, we aim to assume our position as the “Digital leader in the rental industry”.

Our eCommerce platform supports easy online rental, return and fleet management encompassing all rental items as well as cost follow-up and invoices. The Product Viewer app gives easy on-site access to detailed product information – from measurements to weight and reach as well as user manuals, safety instructions and other documents. The MyEquip app is especially designed for on-site management of all rental items, not only Cramo’s; it also gives direct access to smart return functions to help our customers to return equipment that is not being used in a fast and easy way.

After a short and simple demo of Cramo’s eCommerce solution we decided to implement it for our company. The solution provides us with prices and all the necessary product information. It is easy to use – just like any other web shop! We like that we can both order and return equipment through the same solution. Cramo’s eCommerce solution definitely saves us time in our day to day work.

Richard Wessberg
Site manager, Consto, Norway


Our modern fleet, leading depot network and in-house competences cover all our market areas, assuring our ability to take on both demanding and complex projects. Cramo is one of the few players that can provide a full scope of equipment and services and solve big, project-specific issues.

Wide range of services

Cramo offers a wide range of rental-related services, such as electricity, climate and heating assembly, site huts and site hut assembly. In addition to the more traditional services, we also offer our customers training services, for example in equipment usage and safety. Our customer base that uses our digital services, such as online access for ordering and monitoring deliveries, online returns etc., is continuously growing, and will continue to do so going forward.

Solid references

We have a very solid track record of successful customer projects that speak for themselves. In 2019, our partnerships in Sweden included the building construction site of a new paper plant production line for Billerud Korsnäs in Gruvön, the building of the new Children’s Hospital Östra Sjukhuset in Gothenburg, as well as the renovation of the Swedish government’s Head Office, a project involving high-level security practices. In Norway, successful projects in 2019 included deliveries of power, heating, hoist, construction, access and building machinery as well as on-site support for Veidekke’s large, prestigious residential project in Ulven and deliveries of equipment even beyond the normal range for the construction of a large winter park outside Oslo. 

Highlights of 2019

Digital productivity partnership

Small and mid-sized customers have realised that they need a good digital agenda and we can provide them with that. The biggest interest can be seen in the traditional segment, meaning building companies, where our experts proactively help customers use the digital tools. Utilisation is growing steadily as customers see the benefits both from the perspective of cost and fleet management.

Everything is documented in Cramo eCommerce. Thanks to Cramo eCommerce, I know exactly how much we rented during the project. And it lets me book equipment in advance. This has given me, and everyone involved in the project, much more control.

Axel Lindström
Entrepreneur engineer, RO Gruppen, Sweden

Innovative fleet optimisation

We are building on the sharing economy by innovating new ways to optimise fleet efficiency. Through a service we have piloted with some customers, we use the IoT to monitor their rental fleet and take notice when a rental item has not been used for a while. We ask the customers if they want to return the idle equipment and tools to us to avoid unnecessary rental costs. Removing the dispensable rental fleet from the customer not only saves them costs, space and time, it also ensures that we have the equipment and tools available to other customers.

Positive performance development and strengthened position in Norway

Since 2017, we have focused on strengthening our performance development in Norway. We started by creating a sense of urgency in our organisation and then defining and communicating a clear common goal – a target of financial growth. Empowering our personnel to engage with the growth plan was crucial. We then concentrated on three development areas: making sure that we have the right people in the right places; systematically improving our sales process; and adjusting our depot network. The development has been positive: not only has our performance improved, but we are also perceived as a potential partner by all of the largest construction companies in Norway.

Several new industrial contracts

In 2019, we won three significant industrial contracts in Sweden, lasting between 36-70 months and valued at EUR 50 million.

  1. SCA’s updated paper plant in Obbola: Cramo is a main provider of rental equipment, tools and services. Revenue is approx. EUR 10 million, and project timeline is estimated to be 36 months.
  2. Northvolt’s battery factory in Skellefteå: Cramo is one of the main rental partners. Construction will last some 70 months, require some 3,000 rental items, on-site Cramo employees, and will bring revenue of approx. EUR 28 million.
  3. Microsoft’s new server centre in the Gävle region: Cramo will work together with Microsoft’s partners being the preferred rental partner in the first three phases. Revenue is approx. EUR 12 million and will require some 1,500 rental items. Project timeline is estimated to be 36 months.

2020 focus on top-tier performance and digital leadership

To reach a top-tier performance, we need to further diversify our customer projects portfolio so that it is more balanced and includes less cyclical business areas offering more secure growth. Especially in Norway, we are focusing on growth to achieve the number 1-2 positions on the market. Our organic growth in Scandinavia will be further boosted by digital leadership, where as a frontrunner in digital solutions we have the tools in place to increase customer productivity and to offer an improved customer journey and user experience.

At the same time, we are increasing our own fleet utilisation and concentrating on developing additional customer value through a connected fleet and data. Our target is to have 100% of our construction and access equipment fleet digitally connected by 2023.

2019 Sales MEUR

2018: 370.5

2019 Comparable EBITA MEUR 

2018: 74.8

2019 Comparable Operative ROCE


Sales by customer group, MEUR