Interim report January- September 2011

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Interim report January- September 2011 9 September

1 Interim report January- September September 2011 President and CEO Magnus Rosén CFO Jonas Söderkvist

Q3/11: Good sales growth and profitability continued to improve, but

2 (140.9) or 21.7% at comparable exchange rates. Organic growth 18.

5 (16.6) EBIT-margin 17.0% (11.8%) Gross capex MEUR 119.9 (9.

2 Q3/11: Good sales growth and profitability continued to improve, but visibility is low JULY SEPTEMBER 2011 Net sales up 27.2% MEUR (140.9) or 21.7% at comparable exchange rates. Organic growth 18.8% EBITDA MEUR 58.6 (42.3) EBITDA-margin 32.7% (30.0%) EBIT MEUR 30.5 (16.6) EBIT-margin 17.0% (11.8%) Gross capex MEUR (9.7) Cash flow after investments MEUR (14.4) Number of outlets 412 (375) 2

Highlights JANUARY SEPTEMBER 2011 Net sales up 21.

8%) EBIT MEUR 48.6 (18.5) EBIT-margin 10.5% (4.

3 Highlights JANUARY SEPTEMBER 2011 Net sales up 21.5% MEUR (381.2) or 18.7 % at comparable exchange rates. Organic growth 18.3% EBITDA MEUR (90.6) EBITDA-margin 27.4% (23.8%) EBIT MEUR 48.6 (18.5) EBIT-margin 10.5% (4.8%) Gross capex MEUR (43.9) Cash flow after investments MEUR (23.8) Net debt MEUR (197.2) Gearing 91.7% (64.1%) 3

Six acquisitions and two outsourcing deals year-to-date Outsourcing deal in Finland Outsourcing deal with two subsidiaries in Finland Acquisition of Czech rental business Outsourcing deal in Finland

4 Six acquisitions and two outsourcing deals year-to-date Outsourcing deal in Finland Outsourcing deal with two subsidiaries in Finland Acquisition of Czech rental business Outsourcing deal in Finland Outsourcing deal in Denmark Acquisition of Finnish weather protection rental business Acquisition of specialist module rental business in Norway End of Acquisition of Swedish rental business Acquisition of Danish rental business Acquisition of Swedish rental business Some 50 companies on our watch list Outsourcing deal in Norway Aquisition of Czech rental business Acquisition of Czech rental business Capex on acquisitions EUR million 1-9/2011 Acquisitive impact approximately 7-8% on sales on an annual level 4

5 We further expanded our network Number of outlets all time high at 412 (375) The biggest increase in in number of of outlets was in Sweden, Europe Central and Europe East Local head office Outlet Re-renting agents 5

Progress in achieving the Group s key strategic objectives Sustainable profitable growth Accelerate growth with acquisitions and outsourcing deals Evaluate entry into new markets Strengthen local

6 Progress in achieving the Group s key strategic objectives Sustainable profitable growth Accelerate growth with acquisitions and outsourcing deals Evaluate entry into new markets Strengthen local offerings and develop solution concepts Operational excellence Develop a common Ramirent platform Develop group wide IT platform and realize synergies Maintain strong focus on cost efficiency Balanced risk level Diversified portfolios of customers, products and markets Continuous employee competence development A strong financial position 6

7 Ramirent and market outlook as of 9 November 2011 Ramirent reiterates its outlook for 2011 As a result of increased construction activity and improving price levels, net sales are expected to increase in 2011, and the result before taxes is expected to improve compared to 2010 Market outlook 2011 Overall, the new residential construction, infrastructure and renovation construction markets are expected to develop favourably, especially in the Nordic countries until the end of 2011, while demand for commercial construction remains weak. Also, the improved balance between supply and demand indicates a healthier price level However, due to the current financial turmoil, market risks have increased. Ramirent maintains a cautious stance since uncertainties in the macroeconomic development persist. 7

8 Record high level for Nordic construction order books, but growth is fading Order book Nordics (BEUR, real exchange rates)* % % % % % 0-40 % Q Q2 Q3 Q4 Q Q2 Q3 Q4 Q Q2 Q3 Q4 Q Q2 Q3 Q4 Q1 Q Q3 Skanska NCC Veidekke YIT Lemminkäinen Change in Net sales YoY, R12 Ramirent Change in order backlog YoY, Nordic contruction 11% growth vs. Q3/10 in both real and fixed exchange rates * Order books for Swe, Fin, Nor, Den 8

9 Euroconstruct expects a dip in construction volumes in 2012, and return to moderate growth as of

10 The Nordic countries have seen the strongest recovery overall in 2011 and is estimated to continue

Ramirent is prepared to act to possible changes in market conditions Increased list prices Reduced average discount level Refinanced loan facilities Acquired Rogaland Planbygg to gain access to oil &

11 Ramirent is prepared to act to possible changes in market conditions Increased list prices Reduced average discount level Refinanced loan facilities Acquired Rogaland Planbygg to gain access to oil & gas industry with stable demand and long term contracts Sold non-performing fleet Increased use of temporary personnel in project business Streamlined administration personnel Updated contingency plans 11

12 In a downturn scenario, multiple levers can be pulled Growth Stability Positioning Growth Priorities in a downturn scenario Strong market conditions and growth Business cycle Market downturn reduced need for investments and improved cash flow Recovery in demand and increased investments 2011 Top line Keep strong discipline in discount levels and price lists Increase focus on non-construction business Investments Reduce capex Sell equipment Return re-rental equipment and leases Opex Review organisational structures Optimise maintenance of equipment to utilisation Optimise marketing and branding Reduce indirect costs Postpone non-crucial development projects 12

13 Ramirent is in good shape to manage possible changes in market conditions Broadest range of equipment and Dynamic Rental Solutions TM 3,249 dedicated problem solvers Wide network of outlets close to our customers Strong financial position Deriving higher synergies through a more uniform Ramirent platform and brand 13

14 SEGMENT REVIEW 14

15 Q Finland Highlights Historic financial performance The main growth drivers were continued good construction activity during the third quarter and an increase in industrial activity. Profitability improved based on higher fleet utilisation and improved price levels. MEUR % 20 % 15 % 10 % 5 % 0 % 0-5 % Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q Q3 Net sales EBIT-% Finland Change (EUR) Q3 January - September Full Year Change (Local) Change (EUR) Change (Local) Net sales, MEUR % 21% % 10% EBIT, MEUR % % 13.7 EBIT-margin 23.2% 18.8% 14.8% 10.7% 10.0% Employees % 603 Outlets %

16 Q Sweden Highlights Historic financial performance Growth was driven by continued strong demand in residential construction, civil engineering and public sector. Excluding the Hyrman acquisition net sales grew by 18.0% in the third quarter. Geographically activity was strongest in the central and southern regions of the country, and in the capital city area. Profitability improved based on higher capacity utilisation and healthier price levels. MEUR Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q Net sales Q3 25 % 20 % 15 % 10 % 5 % 0 % EBIT-% Q3 January - September Full Year Sweden Change Change Change Change 2010 (EUR) (Local) (EUR) (Local) Net sales, MEUR % 22% % 20% EBIT, MEUR % % 23.3 EBIT-margin 18.0% 20.6% 16.5% 15.0% 16.1% Employees % 546 Outlets % 73 16

17 Q Norway Highlights Historic financial performance The recovery in the residential construction activity continued in the third quarter. Excluding the Rogaland Planbygg (renamed Ramirent Module Systems AS) acquisition net sales grew in Norway by 20.9% in the third quarter. The highest activity was recorded in the larger Oslo area and western parts of Norway. Profitability improved based on good fleet utilisation, improving price levels and strict cost control. MEUR Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q Net sales 40 Q3 16 % 14 % 12 % 10 % 8 % 6 % 4 % 2 % 0 % -2 % -4 % EBIT-% Q3 January - September Full Year Norway Change Change Change Change 2010 (EUR) (Local) (EUR) (Local) Net sales, MEUR % 41% % 21% EBIT, MEUR % % 2.3 EBIT-margin 9.9% 6.1% 6.5% 2.7% 2.0% Employees % 503 Outlets % 42 17

18 Q Denmark Highlights Historic financial performance Growth was driven by higher construction activity and improved fleet utilisation. Profitability was still burdened by low price levels. MEUR % 10 % 0 % -10 % -20 % Cost control measures continue to improve profitability Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q Q3-30 % -40 % -50 % Net sales EBIT-% Q3 January - September Full Year Denmark Change Change Change Change 2010 (EUR) (Local) (EUR) (Local) Net sales, MEUR % 26% % 13% 35.6 EBIT, MEUR N/M N/M -2.2 EBIT-margin 7.5% -1.9% -2.3% -5.6% -6.2% Employees % 160 Outlets % 20 18

19 Q Europe East Highlights Historic financial performance Net sales grew in all Europe East countries in the third quarter. Growth was driven mainly by infrastructure construction in Russia and energy-related investments in the Baltic States and Ukraine. Profitability continued to improve based on higher business volumes and improved price levels. MEUR Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q Q3 30 % 20 % 10 % 0 % -10 % -20 % -30 % -40 % Net sales EBIT-% Q3 January - September Full Year Europe East Change Change Change Change 2010 (EUR) (Local) (EUR) (Local) Net sales, MEUR % 49% % 37% 42.7 EBIT, MEUR N/M N/M -3.5 EBIT-margin 24.6% -5.7% 8.9% -15.9% -8.3% Employees % 392 Outlets % 48 19

20 Q Europe Central Highlights Historic financial performance Growth was driven by continued good construction and industrial activity in Poland, which generated a healthy profit improvement. Profitability was burdened by low price levels and business volumes especially in the Czech Republic and Slovakia. MEUR Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q Net sales 22 Q3 20 % 15 % 10 % 5 % 0 % -5 % -10 % -15 % -20 % -25 % EBIT-% Q3 January - September Full Year Europe Central Change Change Change Change 2010 (EUR) (Local) (EUR) (Local) Net sales, MEUR % 12% % 15% 66.6 EBIT, MEUR % N/M 0.8 EBIT-margin 16.3% 11.2% 6.2% -0.3% 1.2% Employees % 824 Outlets %

21 FINANCIAL REVIEW 21

22 Positive development in financial performance continued in Q3 Net Sales (MEUR) EBITDA (MEUR) EBIT (MEUR) Net sales Y-o-y change-% Q1Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q % 30 % 20 % 10 % 0 % -10 % -20 % -30 % -40 % EBITDA EBITDA-% Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q % 30 % 25 % 20 % 15 % 10 % 5 % 0 % EBIT EBIT-% Q1Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q % 15 % 10 % 5 % 0 % -5 % -10 % Cash flow (MEUR) Net debt (MEUR) Gross Capex (MEUR) Cash flow after investments Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q Net debt Gearing-% Q1Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q % 100 % 80 % 60 % 40 % 20 % 0 % Gross Capex Share of net sales-% 120 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q % 70 % 60 % 50 % 40 % 30 % 20 % 10 % 0 % 22

23 Net sales grew 27.2% in Q3/2011, organic growth was 18.8% 40 % Change in net sales YoY, % 30 % 27 % 20 % 10 % 19 % 19 % 13 % 3 % 9 % 19 % 20 % 16 % 0 % -10 % -20 % -4 % -9 % -30 % -40 % -25 % -27 % -31 % -31 % Q Q2 Q3 Q4 Q Q2 Q3 Q4 Q Q2 Q3 Q4 Q Q2 Q3 January-September 2011 Net sales increased by 21.5%. The organic growth was 18.3%. 23

24 Net sales grew in all segments both in euros and at comparable exchange rates 60 % Change in Q3 net sales YoY, % 50 % 40 % 44 % 44 % 41 % 49 % 43 % 39 % 30 % 20 % 10 % 27 % 26 % 26 % 22 % 21 % 22 % 21 % 20 % 29 % 26 % 26 % 12 % 9 % 10 % 0 % Group Finland Sweden Norway Denmark East Central EUR Comparable exchange rates Adjusted for inter-segment sales (in EUR) Group July - September 2011 Net sales increased by 27.2% or 21.7% at comparable exchange rates. 24

25 Capital turnover continued to develop positively Invested capital by quarter MEUR % 140 % % % % % % % 0 0 % Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q Q2 Q3 Invested capital Net sales/invested capital Rolling 12 month basis Capital turnover amounted to 112% (96%) at the end of September

26 Gross margin improved compared to previous year but is still below pre-downturn level Gross margin by quarter 72 % 71 % 70 % 69 % 68 % 67 % 66 % 65 % 64 % 63 % 62 % 71 % 71 % 71 % 71 % 70 % 70 % 69 % 69 % 68 % 68 % 68 % 68 % 67 % 67 % 67 % 66 % 65 % 65 % Q1 Q2 Q3 Q4 FY Gross margin 2008 Gross margin 2009 Gross margin 2010 Gross margin 2011 Gross margin is impacted by price pressure and increased equipment transportation and use of external services 26

27 Recovery in demand and acquisitions increased the workforce Number of employees by segment Finland Sweden Norway Denmark Europe East Europe Central Personnel 30/09/10 Personnel 30/06/11 Personnel 30/09/ At the end of September 2011, the Group s workforce amounted to 3,249 (3,025) persons At the end of December 2010, the Group s workforce amounted to 3,048 (3,021) persons 27

28 Number of outlets increased further Number of outlets per segment Q Q2 Q3 Q4 Q Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q Finland Sweden Norway Denmark Europe East Europe Central Q2 Q3 28

29 Fixed cost level increased due to acquisitions Fixed costs by quarter MEUR Q Q Q2 Q3 Q4 Q Employee benefit expenses Q2 Q3 Q4 Q Other operating expenses Q Q3 The fixed cost level increased year-on-year due to an increase in the use of outsourced services, a higher number of employees, intensified sales activities and expenses related to development of Ramirent s common platform and outlet network, as well as acquisitions. 29

30 Q3 EBIT margin increased to 17.0% 25 % EBIT margin by quarter 20 % 19.6 % 18.2 % 18.4 % 17.0 % 15 % 10 % 5 % 0 % 5.9 % 10.8 % 9.0 % 11.8 % 10.3 % 7.5 % 5.8 % 2.0 % -5 % -10 % -2.9 % -5.0 % -15 % % Q Q2 Q3 Q4 Q Q2 Q3 Q4 Q Q2 Q3 Q4 Q Q2 Q3 Q3/2011 EBIT-margin was 17.0% (11.8%) 30

31 Q3 EBIT margin improved in most segments compared to previous year EBIT-margin by segments 30 % 25 % 20 % 15 % 10 % 5 % 11.8 % 17.0 % 18.8 % 23.2 % *20.6 % 18.0 % 6.1 % 9.9 % 7.5 % 24.6 % 11.2 % 16.3 % 0 % -5 % -10 % -1.9 % -5.7 % Group Finland Sweden Norway Denmark East Central Q Q *Adjusted for 2 MEUR in one-offs the EBIT margin was 15% in Q in Sweden 31

32 Q fleet investment rose to EUR 66.8 million Purchased and sold equipment by quarter MEUR Q Q2 Q3 Q4 Q Q2 Q3 Q4 Q Q2 Q3 Purchased equipment Sold equipment In July-September 2011, gross capital expenditure was EUR (9.7) million of which EUR 66.8 (8.9) million in rental fleet. The value of sold rental equipment was EUR 6.0 (3.3) million. In January-September 2011, gross capital expenditure was EUR (43.9) million of which EUR (35.3) million in rental fleet. The value of sold rental equipment was EUR 14.9 (12.0) million. 32

33 Due to acquisitions capital expenditure increased most in Norway and Sweden MEUR 250 Capital Expenditure by segments Group Finland Sweden Norway Denmark East Central 1-9/ /

34 Working capital is at 6% of net sales Working capital by quarter MEUR Q Q2 Q3 Q4 Q Q2 Q3 Q4 Q Q Q3 10 % 8 % 6 % 4 % 2 % 0 % -2 % -4 % -6 % -8 % -10 % Inventories Trade payables and other liabilities Trade and other receivables Working capital/net sales Rolling 12 month basis 34

35 Cash flow after investments EUR million due to increased fleet investments and acquisitions MEUR Cash flow versus change in net debt Q Q2 Q3 Q4 Q Q2 Q3 Q4 Q Q2 Q3 Q4 Q Q2 Q3 Cash flow after investments Change in net debt Change in net debt in 1-9/2011 is affected by dividend pay-out of EUR 27.0 million and purchase of own shares by EUR 3.4 million 35

36 Gearing increased to 92% due to acquisitions Net debt and gearing MEUR % 106 % 108 % 120 % % 81 % 84 % 69 % 70 % 99 % 86 % 74 % 68 %68 % 71 % 80 % 64 % 60 % 56 % 92 % 100 % 80 % 60 % % 20 % Q Q2 Q3 Q4 Q Q2 Q3 Q4 Q Q2 Q3 Q4 Q Net debt Gearing (%) Q2 Q3 0 % Equity ratio decreased to 38.2% (46.1%) Net debt amounted to EUR (197.2) million 36

37 MEUR Debt maturity extended Repayment schedule of interest-bearing liabilities On 4 November 2011, Ramirent Plc's syndicated credit facility agreement totalling EUR 240 million was amended to mature fully in Ramirent has committed loan facilities for a total of EUR 390 million. At end of Q3 2011, Ramirent had unused committed back-up facility of EUR 82.9 million 37 37

38 MORE INFORMATION Magnus Rosén, CEO Jonas Söderkvist, CFO Franciska Janzon, IR

39 COMPANY OVERVIEW 39

Ramirent in brief Leading equipment rental company in Northern, Central and Eastern Europe with net sales of EUR 531 million (2010) 412 rental customer centers located in 13

40 Ramirent in brief Leading equipment rental company in Northern, Central and Eastern Europe with net sales of EUR 531 million (2010) 412 rental customer centers located in 13 countries and providing rental items employees serving customers Founded in 1955 and headquartered in Finland Listed on NASDAQ OMX Helsinki since

More than 50 years of experience as a supplier to the construction industry Steel

Finland through JV in Moscow, Russia MBO by key personnel and capital investors Enter

entry to Czech Republic 1955 1983 1988 1994 1995 1996 1997 1998 2000 2001 2002 2003

third county becomes Estonia with the expansion to Tallinn Listed on the Helsinki

41 More than 50 years of experience as a supplier to the construction industry Steel Nail shop Rakennusmies founded The rental business is established First move outside Finland through JV in Moscow, Russia MBO by key personnel and capital investors Enter Lithuania Enter Poland Acquires Bautas in Norway Acquires Altima in Sweden Greenfield entry to Czech Republic Acquired by Partek and renamed A-rakennusmies Enter Latvia The third county becomes Estonia with the expansion to Tallinn Listed on the Helsinki Stock Exchange Renamed Ramirent Plc Greenfield entry to Hungary Enter Ukraine Enter Slovakia 41

Our strategic choices Vision To be the leading and most progressive equipment rental solutions company in Europe, setting the benchmark for industry

42 Our strategic choices Vision To be the leading and most progressive equipment rental solutions company in Europe, setting the benchmark for industry performance and customer service Mission We simplify business by Delivering Dynamic Rental Solutions Values Open, Progressive, Engaged Brand promise Let s solve it 42

43 One of the leading equipment rental companies both in Europe (#3) and globally (#12) Largest rental companies in Europe Turnover 2010 (MEUR) Largest rental companies globally Turnover 2010 (MEUR) Loxam Cramo* Ramirent Algeco Speedy Hire Sarens Liebherr- Kiloutou Mediaco HKL Aggreko United Rentals Ashtead Group RSC Equipment Rental Algeco Scotsman Coates Hire Ltd Hertz Equipment Rental Loxam Nishio Rent All Co Nikken Corp Cramo* Ramirent *Cramo + Theisen PF Source: IRN June

44 Nordic countries are our largest markets and construction is our largest customer sector Sales per segment 1-9/2011 Sales per customer sector 2010 Europe East 8 % Europe Central 12 % Finland 24 % Industry 14 % Public sector 5 % Households 5 % Construction 76% Denmark 6 % Norway 22 % Sweden 28 % 44

45 Leading market positions in all our markets Europe Central 868 Europe East 440 Denmark 163 Employees Total 3,249 Norway 523 Finland 611 Sweden 622 Norway 44 depots (4 franchises) Market #1 Denmark 21 depots Market #1 Czech 27 depots (7 franchises) Market #~3 Sweden 80 depots (10 franchises) Market #2 Poland 2 44 depots Market #1 Finland 86 depots (25 franchises) Market #1 Baltic 42 depots Market #2 Slovakia 36 depots (17 franchises) Market #1 Russia 1 7 depots 10 re-renting agents Market #1 Ukraine 7 depots Market #~4 Hungary 2 18 depots Market #1 1) St Petersburg + Moscow 2) Excl. Fomrworks business 45

46 Offering is structured into eight core product groups LIFTS HEAVY MACHINERY TOWER CRANES AND HOISTS SCAFFOLDING MODULES SAFE (SAFETY AND FORMWORKS EQUIPM.) LIGHT MACHINERY POWER & HEATING 46

47 Broadest range of equipment and Dynamic Rental Solutions TM. Rental Solution Concepts Ramirent offers a range of customer needs-driven & value-adding turnkey rental solution concepts, driving the problem-solving approach and the promise of Let s solve it Rental services Planning, design Ramirent know-how Transportation/Installation Maintenance/Inspections Insurance Operators Fuel / gas refilling Facility management Technical support Site logistics coordinator Paperwork Equipment rental Lifts Modules Heavy Machinery Light Machinery Tower Cranes & Hoists Scaffolding Power & Heating SAFE 47

The long-term growth drivers are still in place Increasing rental penetration European consolidation opportunities High potential CEE construction markets 70 % 60 % 50 % 40 % 30 % 20 % 10 % Ramirent

48 The long-term growth drivers are still in place Increasing rental penetration European consolidation opportunities High potential CEE construction markets 70 % 60 % 50 % 40 % 30 % 20 % 10 % Ramirent Cramo Speedy Hire GAM Sarens HKL Baumschinen Loxam Algeco Scotsman Liebherr-Mietpartner Mediaco Lifting Kiloutou Others 0 % EU avg. FI DK SE UK Note: Finland company estimate Top 10 companies account for 19% of the Europe market of 20.2 BEUR Inhabitants (million) Construction output (BEUR) 48

49 Financial targets ROI >18 % p.a. over a business cycle EPS growth > 15 % p.a. over a business cycle Gearing 120 % at end of each fiscal year Dividend pay-out > 40 % of earnings per share 49

50 Long-term EBIT and ROI development EBIT and ROI development 35 % 30 % 25 % 20 % 23% 18% 15 % 10 % 5 % 0 % EBIT margin ROI EBIT margin (average) ROI (average) 50

51 APPENDIX 51

52 CONSOLIDATED INCOME STATEMENT (EUR 1,000) 7-9/11 7-9/10 1-9/11 1-9/ /10 Net sales Other operating income Materials and services Employee benefit expenses Depreciation and amortisation Other operating expenses EBIT Financial income Financial expenses EBT Income taxes NET RESULT FOR THE PERIOD Net result for the period attributable to: Owners of the parent company Non-controlling interest TOTAL Earnings per share (EPS), basic and diluted, EUR

53 BALANCE SHEET ASSETS (EUR 1,000) NON-CURRENT ASSETS Property, plant and equipment Goodwill Other intangible assets Available-for-sale investments Deferred tax assets NON-CURRENT ASSETS, TOTAL CURRENT ASSETS Inventories Trade and other receivables Current tax assets Cash and cash equivalents CURRENT ASSETS, TOTAL TOTAL ASSETS

54 BALANCE SHEET EQUITY AND LIABILITIES (EUR 1,000) EQUITY Share capital Revaluation fund Invested unrestricted equity fund Retained earnings PARENT COMPANY SHAREHOLDERS EQUITY Non-controlling interests EQUITY, TOTAL NON-CURRENT LIABILITIES Deferred tax liabilities Pension obligations Provisions Interest-bearing liabilities Other long-term liabilities NON-CURRENT LIABILITIES, TOTAL CURRENT LIABILITIES Trade payables and other liabilities Provisions Current tax liabilities Interest-bearing liabilities CURRENT LIABILITIES, TOTAL LIABILITIES, TOTAL TOTAL EQUITY AND LIABILITIES

55 KEY FIGURES MEUR 7-9/11 7-9/10 Change 1-9/11 1-9/10 Change 1-12/10 Net sales % % EBITDA % % % of net sales 32.7% 30.0% 27.4% 23.8% 24.0% EBIT % % 29.7 % of net sales 17.0% 11.8% 10.5% 4.8% 5.6% Earnings per share (EPS), (basic and diluted), EUR % % 0.13 Gross capital expenditure N/M % 62.0 Gross capital expenditure,% of net sales 66.9% 6.9% 42.4% 11.5% 11.7% Cash flow after investments N/M N/M 48.0 Invested capital at the end of period % Return on invested capital (ROI), % 1) 13.2% 5.4% 8.6% Return on equity (ROE), % 1) 11.4% -0.6% 4.7% Net debt % Gearing, % 91.7% 64.1% 55.6% Equity ratio, % 38.2% 46.1% 48.0% Personnel at end of period % ) The figures are calculated on a rolling twelve month basis. 55

56 CONDENSED CASH FLOW STATEMENT MEUR 7-9/11 7-9/10 1-9/11 1-9/10 Change 1-12/10 Cash flow from operating activities % Cash flow from investing activities % Cash flow from financing activities Borrowings / repayment of short-term debt % 0.6 Borrowings / repayment of long-term debt % Purchase of treasury shares % -2.9 Dividends paid % Cash flow from financing activities % Net change in cash and cash equivalents % -0.5 Cash and cash equivalents at the beginning of the period % 1.8 Translation difference on cash and cash equivalents N/M 0.1 Net change in cash and cash equivalents % -0.5 Cash and cash equivalents at the end of the period %

57 SEGMENT INFORMATION Net sales, MEUR 7-9/11 7-9/10 Change 1-9/11 1-9/10 Change 1-12/10 Finland, net sales (external) -Inter-segment sales Sweden, net sales (external) -Inter-segment sales Norway, net sales (external) -Inter-segment sales Denmark, net sales (external) % % % % % % % % % % % % % % Inter-segment sales % % 2.7 Europe East, net sales (external) % % Inter-segment sales % % 3.2 Europe Central, net sales (external) % % Inter-segment sales % % 1.2 Elimination of sales between segments % % Net sales, total % %

58 EBIT BY SEGMENT EBIT (EUR million) 7-9/11 7-9/10 Change 1-9/11 1-9/10 Change 1-12/10 Finland % of net sales Sweden % % % 18.8% 14.8% 10.7% 10.0 % % % 23.3 % of net sales 18.0% 20.6% 16.5% 15.0% 16.1 % Norway % of net sales Denmark % of net sales Europe East % % % 6.1% 6.5% 2.7% 2.0 % N/M % % -1.9% -2.3% -5.6% -6.2 % N/M N/M -3.5 % of net sales 24.6% -5.7% 8.9% -15.9% -8.3 % Europe Central % N/M 0.8 % of net sales 16.3% 11.2% 6.2% -0.3% 1.2 % Net items not allocated to operating segments % % -4.7 Group EBIT % of net sales % % % 11.8% 10.5% 4.8% 5.6 % 58

59 LARGEST SHAREHOLDERS Largets shareholders on 30 September 2011 Number of shares % of share capital Market Cap EUR million 8.7 % 1 Nordstjernan AB ,33 2 Julius Tallberg Oy Ab , % 3 Varma Mutual Pension Insurance Company ,20 4 Ilmarinen Mutual Pension Insurance Company ,19 5 Tapiola Mutual Pension Insurance Company ,22 6 Odin Norden ,69 7 Veritas Pension Insurance Company Ltd ,35 8 Odin Finland ,31 9 Odin Europa Smb ,24 10 Investment Fund Aktia Capital ,00 Ramirent s treasury shares ,60 Nominee registered shares ,48 Other shareholders ,36 Total number of shares , % Foreign owners Nominee registered 15.5 % Finnish companies and organisations Finnish households Trading information Listing: NASDAX OMX Helsinki Date of listing: April 30, 1998 Segment: Mid Cap Sector: Industrials Trading code: RMR1V 59

60 Share price development EUR MEUR Share turnover Ramirent Sector OMX Helsinki 60

61 Renewed Euroconstruct estimates for construction output as per Nov,

62 Renewed Euroconstruct estimates for construction output as per Nov,

63 Thank you!

INTERIM REPORT Q1/2013

INTERIM REPORT Q1/2013 May 8, 2013 CEO Magnus Rosén CFO Jonas Söderkvist Agenda Highlights: Q1/2013 Market outlook Segment review Financial Review Company overview Appendix Agenda 2 Highlights: Q1/2013