Interim reportJanuary-September 20119 September 2011

President and CEO Magnus Rosén

CFO Jonas Söderkvist

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

JULY – SEPTEMBER 2011

Net sales up 27.2% MEUR 179.2

(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 119.9 (9.7)

Cash flow after investments

MEUR -36.8 (14.4)

Number of outlets 412 (375)

2

Highlights

JANUARY – SEPTEMBER 2011

Net sales up 21.5% MEUR 463.1

(381.2) or 18.7 % at comparable

exchange rates. Organic growth 18.3%

EBITDA MEUR 126.8 (90.6)

EBITDA-margin 27.4% (23.8%)

EBIT MEUR 48.6 (18.5)

EBIT-margin 10.5% (4.8%)

Gross capex MEUR 196.3 (43.9)

Cash flow after investments

MEUR -67.9 (23.8)

Net debt MEUR 279.8 (197.2)

Gearing 91.7% (64.1%)

3

Six acquisitions and two outsourcing deals year-to-date

Outsourcing dealin Denmark

2010

Outsourcing dealin Finland

2011

Acquisition of Czech rental

business

Acquisition of Finnishweather protection

rental business

4

End of 2009

Outsourcing deal with twosubsidiaries in Finland

Outsourcing deal in Finland

Some 50 companies on our watch list

Acquisition of Swedishrental business

Outsourcing deal in Norway

Acquisition of Czech rental business

Aquisition of Czech rental business

Acquisition ofSwedish rental

business

Acquisition ofDanish rental business

Acquisition of specialist modulerental business in Norway

Capex on acquisitions EUR 104.9 million 1-9/2011

Acquisitive impact approximately 7-8% on sales on an annual level

5

Outlet

Local head office

Re-renting agents

We further expanded our network

Number of outlets all

time high at 412 (375)

The biggest increase in number of outlets was in Sweden, Europe Central and Europe East

The biggest increase in number of outlets was in Sweden, Europe Central and Europe East

The biggest increase in number of outlets was in Sweden, Europe Central and Europe East

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

Progress in achieving the Group’s key strategic objectives

6

Ramirent and market outlook as of 9 November 2011

7

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.

Market outlook 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”

Ramirent reiterates its outlook for 2011

Record high level for Nordic construction order books, but growth is fading

11% growth vs. Q3/10 in both real and fixed exchange rates

8

-40 %

-20 %

0 %

20 %

40 %

60 %

0

2

4

6

8

10

12

14

16

Q1

2007

Q2 Q3 Q4 Q1

2008

Q2 Q3 Q4 Q1

2009

Q2 Q3 Q4 Q1

2010

Q2 Q3 Q4 Q1

2011

Q2 Q3

Order book Nordics (BEUR, real exchange rates)*

Skanska NCC

Veidekke YIT

Lemminkäinen Change in Net sales YoY, R12 Ramirent

Change in order backlog YoY, Nordic contruction

* Order books for Swe, Fin, Nor, Den

9

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

Business cycle

Growth Stability Positioning Growth Priorities in a downturn scenario

10

Top line• Keep strong discipline in discount levels and price lists •Increase focus on non-construction businessInvestments•Reduce capex•Sell equipment•Return re-rental equipment and leasesOpex•Review organisational structures•Optimise maintenance of equipment to utilisation•Optimise marketing and branding•Reduce indirect costs•Postpone non-crucial development projects

Strong market conditions and

growth 2004-2007

Market downturn reduced need for investments and

improved cash flow 2008-2010

Recovery in demand and increased

investments 2011

In a downturn scenario, multiple levers can be pulled

Ramirent is in good shape to manage possible changes in market conditions

11

3,249 dedicated problem solvers

Broadest range of equipment and

Dynamic Rental SolutionsTM

Wide network of outlets close to our customers

Deriving higher synergies through a more uniform

”Ramirent platform” and brand

Strong financial position

SEGMENT REVIEW

12

29

34

41

3128

36 3835

30

37

45

-5 %

0 %

5 %

10 %

15 %

20 %

25 %

0

10

20

30

40

50

Q12009

Q2 Q3 Q4 Q12010

Q2 Q3 Q4 Q12011

Q2 Q3

Net sales EBIT-%

Q3 2011 Finland

13

MEUR

Highlights Historic financial performance

Q3 January - September Full Year

Finland 2011 2010 Change(EUR)

Change(Local)

2011 2010 Change(EUR)

Change(Local)

2010

Net sales, MEUR 45.5 37.5 21% 21% 112.3 101.7 10% 10% 136.9

EBIT, MEUR 10.5 7.1 49% 16.6 10.9 53% 13.7

EBIT-margin 23.2% 18.8% 14.8% 10.7% 10.0%

Employees 611 612 0% 603

Outlets 86 83 4% 84

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.

Q3 2011 Sweden

14

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.

Historic financial performance

32 33 31 3229

35 36

4541 42

45

0 %

5 %

10 %

15 %

20 %

25 %

0

10

20

30

40

50

Q12009

Q2 Q3 Q4 Q12010

Q2 Q3 Q4 Q12011

Q2 Q3

Net sales EBIT-%

MEUR

Highlights

Q3 January - September Full Year

Sweden 2011 2010 Change(EUR)

Change(Local)

2011 2010 Change(EUR)

Change(Local)

2010

Net sales, MEUR 45.4 36.1 26% 22% 128.8 100.3 28% 20% 145.2

EBIT, MEUR 8.2 7.4 10% 21.3 15.0 42% 23.3

EBIT-margin 18.0% 20.6% 16.5% 15.0% 16.1%

Employees 622 540 15% 546

Outlets 80 74 8% 73

Q3 2011 Norway

15

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.

Historic financial performance

2925 27

29 28 27 2831 33

30

40

-4 %

-2 %

0 %

2 %

4 %

6 %

8 %

10 %

12 %

14 %

16 %

0

5

10

15

20

25

30

35

40

45

Q12009

Q2 Q3 Q4 Q12010

Q2 Q3 Q4 Q12011

Q2 Q3

Net sales EBIT-%

MEUR

Highlights

Q3 January - September Full Year

Norway 2011 2010 Change(EUR)

Change(Local)

2011 2010 Change(EUR)

Change(Local)

2010

Net sales, MEUR 39.7 27.6 44% 41% 102.8 83.3 23% 21% 114.4

EBIT, MEUR 3.9 1.7 136% 6.7 2.2 200% 2.3

EBIT-margin 9.9% 6.1% 6.5% 2.7% 2.0%

Employees 523 500 5% 503

Outlets 44 42 5% 42

Q3 2011 Denmark

16

Growth was driven by higher construction activity and improved fleet utilisation.

Profitability was still burdened by low price levels.

Cost control measures continue to improve profitability.

Historic financial performance

1112

1110

89 9 10

8

10

11

-50 %

-40 %

-30 %

-20 %

-10 %

0 %

10 %

20 %

0

2

4

6

8

10

12

14

Q12009

Q2 Q3 Q4 Q12010

Q2 Q3 Q4 Q12011

Q2 Q3

Net sales EBIT-%

MEUR

Highlights

Q3 January - September Full Year

Denmark 2011 2010 Change(EUR)

Change(Local)

2011 2010 Change(EUR)

Change(Local)

2010

Net sales, MEUR 11.3 9.0 26% 26% 29.6 26.1 13% 13% 35.6

EBIT, MEUR 0.9 -0.2 N/M -0.7 -1.5 N/M -2.2

EBIT-margin 7.5% -1.9% -2.3% -5.6% -6.2%

Employees 163 148 10% 160

Outlets 21 20 5% 20

Q3 2011 Europe East

17

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.

Historic financial performance

9

12

19

11

8

10

1213

9

13

17

-40 %

-30 %

-20 %

-10 %

0 %

10 %

20 %

30 %

0

5

10

15

20

Q12009

Q2 Q3 Q4 Q12010

Q2 Q3 Q4 Q12011

Q2 Q3

Net sales EBIT-%

MEUR

Highlights

Q3 January - September Full Year

Europe East 2011 2010 Change(EUR)

Change(Local)

2011 2010 Change(EUR)

Change(Local)

2010

Net sales, MEUR 17.2 12.3 39% 49% 39.6 29.3 35% 37% 42.7

EBIT, MEUR 4.2 -0.7 N/M 3.5 -4.7 N/M -3.5

EBIT-margin 24.6% -5.7% 8.9% -15.9% -8.3%

Employees 440 381 15% 392

Outlets 56 45 24% 48

Q3 2011 Europe Central

18

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.

Historic financial performance

1416

1816

12

16

20 19

14

19

22

-25 %

-20 %

-15 %

-10 %

-5 %

0 %

5 %

10 %

15 %

20 %

0

5

10

15

20

25

Q12009

Q2 Q3 Q4 Q12010

Q2 Q3 Q4 Q12011

Q2 Q3

Net sales EBIT-%

MEUR

Highlights

Q3 January - September Full Year

Europe Central 2011 2010 Change(EUR)

Change(Local)

2011 2010 Change(EUR)

Change(Local)

2010

Net sales, MEUR 21.6 19.7 9% 12% 54.9 47.7 15% 15% 66.6

EBIT, MEUR 3.5 2.2 60% 3.4 -0.1 N/M 0.8

EBIT-margin 16.3% 11.2% 6.2% -0.3% 1.2%

Employees 868 825 5% 824

Outlets 125 111 13% 111

FINANCIAL REVIEW

19

Positive development in financial performance continued in Q3

20

Net Sales (MEUR) EBITDA (MEUR)

Cash flow (MEUR) Net debt (MEUR) Gross Capex (MEUR)

EBIT (MEUR)

3 5 3 8 1322

1018

3245

120

0 %

10 %

20 %

30 %

40 %

50 %

60 %

70 %

80 %

0

20

40

60

80

100

120

140

Q12009

Q2 Q3 Q4 Q12010

Q2 Q3 Q4 Q12011

Q2 Q3

Gross Capex Share of net sales-%

281255

230207212209

197177

191

238

280

0 %

20 %

40 %

60 %

80 %

100 %

120 %

0

50

100

150

200

250

300

Q12009

Q2 Q3 Q4 Q12010

Q2 Q3 Q4 Q12011

Q2 Q3

Net debt Gearing-%

7

1412

-4-6

7

17

11

3

15

31

-10 %

-5 %

0 %

5 %

10 %

15 %

20 %

-10

-5

0

5

10

15

20

25

30

35

Q12009

Q2 Q3 Q4 Q12010

Q2 Q3 Q4 Q12011

Q2 Q3

EBIT EBIT-%

3036 37

26

18

31

4237

28

41

59

0 %

5 %

10 %

15 %

20 %

25 %

30 %

35 %

0

10

20

30

40

50

60

70

Q12009

Q2 Q3 Q4 Q12010

Q2 Q3 Q4 Q12011

Q2 Q3

EBITDA EBITDA-%

122125130126112

129141

150134

150

179

-40 %

-30 %

-20 %

-10 %

0 %

10 %

20 %

30 %

40 %

0

20

40

60

80

100

120

140

160

180

200

Q12009

Q2 Q3 Q4 Q12010

Q2 Q3 Q4 Q12011

Q2 Q3

Net sales Y-o-y change-%

18

2822 20

-4

13 14

24

-11

-20

-37-50

-40

-30

-20

-10

0

10

20

30

40

Q12009

Q2 Q3 Q4 Q12010

Q2 Q3 Q4 Q12011

Q2 Q3

Cash flow after investments

Net sales grew 27.2% in Q3/2011, organic growth was 18.8%

21

19 % 19 %

13 %

-4 %

-25 %

-31 %-31 %-27 %

-9 %

3 %

9 %

19 % 20 %16 %

27 %

-40 %

-30 %

-20 %

-10 %

0 %

10 %

20 %

30 %

40 %

Q12008

Q2 Q3 Q4 Q12009

Q2 Q3 Q4 Q12010

Q2 Q3 Q4 Q12011

Q2 Q3

Change in net sales YoY, %

January-September 2011 Net sales increased by 21.5% (18.3% organically)

22

27 %

21 %

26 %

44 %

26 %

39 %

9 %

22 % 21 % 22 %

41 %

26 %

49 %

12 %

20 %

26 %

44 %

29 %

43 %

10 %

0 %

10 %

20 %

30 %

40 %

50 %

60 %

Group Finland Sweden Norway Denmark East Central

EUR Comparable exchange rates Adjusted for inter-segment sales (in EUR)

Change in Q3 net sales YoY, %

Net sales grew in all segments both in eurosand at comparable exchange rates

Group July - September 2011 Net sales increased by 27.2% (21.7% at comparable

exchange rates)

Capital turnover continued to develop positively

494

562 581 578

654

708 707

586565 552 544

515 524 508 509 496 508536

588

0 %

20 %

40 %

60 %

80 %

100 %

120 %

140 %

160 %

0

100

200

300

400

500

600

700

800

Q12007

Q2 Q3 Q4 Q12008

Q2 Q3 Q4 Q12009

Q2 Q3 Q4 Q12010

Q2 Q3 Q4 Q12011

Q2 Q3

Invested capital Net sales/Invested capital Rolling 12 month basis

MEUR

23

Invested capital by quarter

Capital turnover amounted to 112% (96%) at the end of September 2011

Gross margin improved compared to previous year but is still below pre-downturn level

24

Gross margin by quarter

Gross margin is impacted by price pressure and increased equipment transportation

and use of external services

71 % 71 % 71 %

68 %

70 %

71 %

70 %

68 %

65 %

69 %

65 %

67 %

68 %

66 %

67 %67 %

68 %

69 %

62 %

63 %

64 %

65 %

66 %

67 %

68 %

69 %

70 %

71 %

72 %

Q1 Q2 Q3 Q4 FY

Gross margin 2008 Gross margin 2009 Gross margin 2010 Gross margin 2011

Recovery in demand and acquisitions increased the workforce

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

25

612

540500

148

381

825

633

563

518

160

411

879

611 622

523

163

440

868

0

100

200

300

400

500

600

700

800

900

1 000

Finland Sweden Norway Denmark Europe East Europe Central

Personnel 30/09/10 Personnel 30/06/11 Personnel 30/09/11

Number of employees by segment

Number of outlets increased further

96

86

57

80

37 4

418 2

152 5

6

99

12

5

359

412

0

50

100

150

200

250

300

350

400

450

Q12008

Q2 Q3 Q4 Q12009

Q2 Q3 Q4 Q12010

Q2 Q3 Q4 Q12011

Q2 Q3

Finland Sweden Norway Denmark Europe East Europe Central

26

Number of outlets per segment

Fixed cost level increased due to acquisitions

4435 30 33 33 33 33 32

38 37 37 41

29

2222 19

23 22 23 22

24 27 2525

0

10

20

30

40

50

60

70

80

Q3 2008

Q12009

Q2 Q3 Q4 Q12010

Q2 Q3 Q4 Q12011

Q2 Q3

Employee benefit expenses Other operating expenses

27

5752 52

57 56 5654

73

Fixed costs by quarter

MEUR

63 62

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.

63 66

Q3/2011 EBIT-margin was 17.0% (11.8%)

Q3 EBIT margin increased to 17.0%

28

18.2 %19.6 %

18.4 %

-11.4 %

5.9 %

10.8 %9.0 %

-2.9 %-5.0 %

5.8 %

11.8 %

7.5 %

2.0 %

10.3 %

17.0 %

-15 %

-10 %

-5 %

0 %

5 %

10 %

15 %

20 %

25 %

Q12008

Q2 Q3 Q4 Q12009

Q2 Q3 Q4 Q12010

Q2 Q3 Q4 Q12011

Q2 Q3

EBIT margin by quarter

Q3 EBIT margin improved in most segments compared to previous year

11.8 %

18.8 %*20.6 %

6.1 %

-1.9 %

-5.7 %

11.2 %

17.0 %

23.2 %

18.0 %

9.9 %

7.5 %

24.6 %

16.3 %

-10 %

-5 %

0 %

5 %

10 %

15 %

20 %

25 %

30 %

Group Finland Sweden Norway Denmark East Central

Q3 2010 Q3 2011

29

EBIT-margin by segments

*Adjusted for 2 MEUR in one-offs the EBIT margin was 15% in Q3 2010 in Sweden

2.04.4

2.16.5 7.5

18.9

8.9

17.4

29.6

38.3

66.8

3.7 5.0 6.74.7 5.0 3.7 3.3 4.4 3.7 5.2 6.0

0

10

20

30

40

50

60

70

80

Q12009

Q2 Q3 Q4 Q12010

Q2 Q3 Q4 Q12011

Q2 Q3

Purchased equipment Sold equipment

30

Q3 2011 fleet investment rose to EUR 66.8 million

Purchased and sold equipment by quarter

MEUR

In July-September 2011, gross capital expenditure was EUR 119.9 (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 196.3 (43.9) million of which EUR 134.8 (35.3) million in rental fleet. The value of sold rental equipment was EUR 14.9 (12.0) million.

Due to acquisitions capital expenditure increased most in Norway and Sweden

44

1321

81 3 5

196

29

61

83

5 10 12

0

50

100

150

200

250

Group Finland Sweden Norway Denmark East Central

1-9/2010 1-9/2011

31

Capital Expenditure by segments

MEUR

Working capital is at 6% of net sales

16 15 15 15 15 14 14 16 16 17 17

86 88 90 80 83 90 99 97 95109

124

-66 -68 -70 -67 -69-86 -86 -89 -82 -84

-107

-10 %

-8 %

-6 %

-4 %

-2 %

0 %

2 %

4 %

6 %

8 %

10 %

-120

-80

-40

0

40

80

120

Q12009

Q2 Q3 Q4 Q12010

Q2 Q3 Q4 Q12011

Q2 Q3

Inventories Trade and other receivables

Trade payables and other liabilities Working capital/Net sales Rolling 12 month basis

32

Working capital by quarter

MEUR

-55

-30

25

67

1828 22 20

-4

13 1424

-11-20

-37

5682

-11

-59

-22 -26 -25-23

5

-2-12

-21

14

48 42

-70

-50

-30

-10

10

30

50

70

90

Q1 2008

Q2 Q3 Q4 Q1 2009

Q2 Q3 Q4 Q1 2010

Q2 Q3 Q4 Q1 2011

Q2 Q3

Cash flow after investments Change in net debt

Cash flow after investments EUR -67.9 milliondue to increased fleet investments and acquisitions

33

Cash flow versus change in net debt

MEUR

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

96 %

84 %

70 %

69 %

81 %

113 %106 % 108 %

99 %

86 %

74 %

68 %68 %71 %

64 %

56 %60 %

80 %

92 %

0 %

20 %

40 %

60 %

80 %

100 %

120 %

0

50

100

150

200

250

300

350

400

2004200520062007 Q1

2008

Q2 Q3 Q4 Q1

2009

Q2 Q3 Q4 Q1

2010

Q2 Q3 Q4 Q1

2011

Q2 Q3

Net debt Gearing (%)

Gearing increased to 92% due to acquisitions

34

Net debt and gearing

MEUR

Equity ratio decreased to 38.2% (46.1%)

Net debt amounted to EUR 279.8 (197.2) million

Debt maturity extended

On 4 November 2011, Ramirent Plc's syndicated credit facility agreement totallingEUR 240 million was amended to mature fully in 2017. 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

35

0

50

100

150

200

250

300

2012 2013 2014 2015 2016 2017

Repayment schedule of interest-bearing liabilities

MEU

R

35

MORE INFORMATIONwww.ramirent.com

Magnus Rosén, CEO+358 20 750 2845magnus.rosen@ramirent.com

Jonas Söderkvist, CFO+358 20 750 3248jonas.soderkvist@ramirent.com

Franciska Janzon, IR+358 20 750 2859franciska.janzon@ramirent.com

36

COMPANY OVERVIEW

37

Ramirent in brief

38

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 200 000 rental items

Listed on NASDAQ OMX Helsinki since 1998

3 249 employees serving 100 000 customers

Founded in 1955 and headquartered in Finland

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

39

Steel Nail shop Rakennusmiesfounded

The rental business is established

Acquired by Partekand renamed A-rakennusmies

First move outside Finland through JV in Moscow, Russia

The third county becomes Estonia with the expansion to Tallinn

MBO by key personnel and capital investors

Enter Latvia

Enter Lithuania

Listed on the Helsinki Stock Exchange

Enter Poland

Renamed Ramirent Plc

Greenfield entry to Hungary

Enter Ukraine

Greenfield entry to Czech Republic

Enter Slovakia

19831955 1988 1994 1995 1996 1997 1998 2000 2001 2002 2003 2004 2005 20082006

Acquires Bautas in Norway

Acquires Altima in Sweden

Mission

We simplify business by Delivering Dynamic

Rental Solutions™

Vision

To be the leading and most progressive equipment

rental solutions company in Europe, setting the

benchmark for industry performance and customer

service

40

Our strategic choices

40

Values

Open, Progressive, Engaged

Brand promise

Let’s solve it

One of the leading equipment rental companies both in Europe (#3) and globally (#12)

0 200 400 600 800 1000

Loxam

Cramo*

Ramirent

Algeco …

Speedy Hire

Sarens

Liebherr-…

Kiloutou

Mediaco …

HKL …

*Cramo + Theisen PFSource: IRN June 2011

41

Turnover 2010 (MEUR) Turnover 2010 (MEUR)

Largest rental companies in Europe Largest rental companies globally

0 500 1000 1500 2000

Ramirent

Cramo*

Nikken Corp

Nishio Rent All Co

Loxam

Hertz Equipment Rental

Coates Hire Ltd

Algeco Scotsman

RSC Equipment Rental

Ashtead Group

United Rentals

Aggreko

Nordic countries are our largest markets and construction is our largest customer sector

42

Finland24 %

Sweden

28 %Norway

22 %

Denmark

6 %

Europe

East8 %

Europe

Central12 %

Sales per segment 1-9/2011

Construction

76%

Industry

14 %

Public sector

5 %

Households

5 %

Sales per customer sector 2010

Leading market positionsin all our markets

43

Ukraine7 depots

Market #~4

Hungary2

18 depots Market #1

Russia1

7 depots10 re-renting

agents Market #1

Finland86 depots

(25 franchises) Market #1

Slovakia36 depots

(17 franchises) Market #1

Baltic42 depots Market #2

Norway44 depots

(4 franchises) Market #1

Denmark21 depots Market #1

1) St Petersburg + Moscow 2) Excl. Fomrworks business

Czech27 depots

(7 franchises) Market #~3

Poland2

44 depotsMarket #1

Sweden80 depots

(10 franchises) Market #2

Total3,249

Finland611

Sweden622

Norway523

Denmark163

EuropeEast440

EuropeCentral

868

Employees

Offering is structured into eight core product groups

44

MODULES

HEAVY MACHINERY

LIGHT MACHINERY

LIFTSTOWER CRANESAND HOISTS SCAFFOLDING

POWER & HEATINGSAFE (SAFETY AND FORMWORKS EQUIPM.)

Rental services• Planning, design• Ramirent know-how• Transportation/Installation• Maintenance/Inspections• Insurance

• Operators• Fuel / gas refilling• Facility management• Technical support• Site logistics coordinator• Paperwork

Rental Solution ConceptsRamirent offers a range of customer needs-driven & value-addingturnkey rental solution concepts, driving the problem-solvingapproach and the promise of Let’s solve it

Broadest range of equipment and Dynamic Rental SolutionsTM ….

Equipment rental• Lifts• Modules• Heavy Machinery• Light Machinery• Tower Cranes & Hoists

• Scaffolding• Power & Heating• SAFE

45

The long-term growth drivers are still in place

Inhabitants (million)

Construction output (BEUR)

0 %

10 %

20 %

30 %

40 %

50 %

60 %

70 %

EU

avg.

FI DK SE UK

Note: Finland company estimate

Ramirent LoxamCramo Algeco ScotsmanSpeedy Hire Liebherr-MietpartnerGAM Mediaco LiftingSarens KiloutouHKL Baumschinen Others

46

Top 10 companies account for 19%

of the Europe market of 20.2 BEUR

Increasing

rental penetration

European consolidation

opportunities

High potential CEE

construction markets

47

• 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

Financial targets

48

0 %

5 %

10 %

15 %

20 %

25 %

30 %

35 %

1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010

EBIT margin ROI EBIT margin (average) ROI (average)

23%

18%

EBIT and ROI development

Long-term EBIT and ROI development

APPENDIX

49

CONSOLIDATED INCOME STATEMENT

(EUR 1,000) 7-9/11 7-9/10 1-9/11 1-9/10 1-12/10

Net sales 179 211 140 898 463 089 381 172 531 284

Other operating income 317 248 986 1 160 1 616

Materials and services -55 093 -44 756 -146 537 -126 074 -177 118

Employee benefit expenses -41 028 -31 956 -114 257 -98 044 -136 214

Depreciation and amortisation -28 078 -25 682 -78 165 -72 091 -97 716

Other operating expenses -24 816 -22 129 -76 477 -67 644 -92 122

EBIT 30 511 16 623 48 639 18 479 29 731

Financial income 4 869 247 8 975 9 965 13 780

Financial expenses -9 728 -4 856 -19 603 -16 352 -22 658

EBT 25 653 12 015 38 011 12 093 20 853

Income taxes -6 951 -3 480 -10 339 -4 577 -6 212

NET RESULT FOR THE PERIOD 18 702 8 535 27 672 7 515 14 640Net result for the period attributable to:

Owners of the parent company 18 702 8 535 27 672 7 515 14 640

Non-controlling interest - - - - -

TOTAL 18 702 8 535 27 672 7 515 14 640

Earnings per share (EPS), basic and diluted, EUR 0.17 0.08 0.26 0.07 0.13

50

BALANCE SHEET – ASSETS

(EUR 1,000) 30.9.2011 30.9.2010 31.12.2010

NON-CURRENT ASSETS

Property, plant and equipment 477 071 432 749 427 248

Goodwill 122 058 93 154 93 211

Other intangible assets 33 931 10 345 10 348

Available-for-sale investments 1 309 603 422

Deferred tax assets 18 285 10 473 13 325

NON-CURRENT ASSETS, TOTAL 652 653 547 323 544 555

CURRENT ASSETS

Inventories 17 233 14 259 15 856

Trade and other receivables 124 188 98 667 96 616

Current tax assets 1 706 2 920 2 902

Cash and cash equivalents 3 184 4 449 1 352

CURRENT ASSETS, TOTAL 146 310 120 296 116 727

TOTAL ASSETS 798 963 667 619 661 282

51

(EUR 1,000) 30.9.2011 30.9.2010 31.12.2010

EQUITY

Share capital 25 000 25 000 25 000

Revaluation fund -3 877 -3 309 -2 472

Invested unrestricted equity fund 113 329 113 329 113 329

Retained earnings 170 807 172 529 181 783

PARENT COMPANY SHAREHOLDERS’ EQUITY 305 259 307 549 317 640

Non-controlling interests - - -

EQUITY, TOTAL 305 259 307 549 317 640

NON-CURRENT LIABILITIES

Deferred tax liabilities 71 436 56 508 60 413

Pension obligations 8 546 6 456 6 866

Provisions 1 783 2 510 2 347

Interest-bearing liabilities 211 597 160 296 137 384

Other long-term liabilities 14 181 2 200 2 200

NON-CURRENT LIABILITIES, TOTAL 307 544 227 970 209 209

CURRENT LIABILITIES

Trade payables and other liabilities 106 795 86 205 89 480

Provisions 808 1 890 1 762

Current tax liabilities 7 136 2 690 2 658

Interest-bearing liabilities 71 422 41 314 40 533

CURRENT LIABILITIES, TOTAL 186 161 132 100 134 433

LIABILITIES, TOTAL 493 704 360 070 343 642

TOTAL EQUITY AND LIABILITIES 798 963 667 619 661 282

BALANCE SHEET – EQUITY AND LIABILITIES

52

KEY FIGURES

MEUR 7-9/11 7-9/10 Change 1-9/11 1-9/10 Change 1-12/10

Net sales 179.2 140.9 27.2% 463.1 381.2 21.5% 531.3

EBITDA 58.6 42.3 38.5% 126.8 90.6 40.0% 127.4

% of net sales 32.7% 30.0% 27.4% 23.8% 24.0%

EBIT 30.5 16.6 83.5% 48.6 18.5 163.2% 29.7

% of net sales 17.0% 11.8% 10.5% 4.8% 5.6%Earnings per share (EPS), (basic and diluted), EUR 0.17 0.08 120.4% 0.26 0.07 270.3% 0.13

Gross capital expenditure 119.9 9.7 N/M 196.3 43.9 347.2% 62.0Gross capital expenditure,% of net sales 66.9% 6.9% 42.4% 11.5% 11.7%

Cash flow after investments -36.8 14.4 -355.5% -67.9 23.8 -385.9% 48.0Invested capital at the end of period 588.3 509.2 15.5% 495.6Return on invested capital (ROI), % 1) 13.2% 5.4% 8.6%

Return on equity (ROE), % 1) 11.4% -0.6% 4.7%

Net debt 279.8 197.2 41.9% 176.6

Gearing, % 91.7% 64.1% 55.6%

Equity ratio, % 38.2% 46.1% 48.0%

Personnel at end of period 3 249 3 025 7.4% 3 048

53

1) The figures are calculated on a rolling twelve month basis.

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 82.4 24.8 133.4 64.4 107.1% 104.2

Cash flow from investing activities -119.1 -10.3 -201.3 -40.6 -395.2% -56.2

Cash flow from financing activitiesBorrowings / repayment of short-term debt -10.5 -8.0 38.1 4.8 694.2% 0.6

Borrowings / repayment of long-term debt 48.4 -2.4 62.0 -7.6 917.2% -29.8

Purchase of treasury shares - -2.0 -3.4 -2.0 -67.8% -2.9

Dividends paid - - -27.0 -16.3 -65.6% -16.3

Cash flow from financing activities 37.9 -12.4 69.7 -21.1 430.5% -48.5

Net change in cash and cash equivalents 1.2 2.0 1.8 2.6 -30.9% -0.5

Cash and cash equivalents at the beginning of the period 2.0 2.4 1.4 1.8 -24.9% 1.8Translation difference on cash and cash equivalents 0.1 - 0.1 - N/M 0.1

Net change in cash and cash equivalents 1.1 2.0 1.7 2.6 -34.1% -0.5Cash and cash equivalents at the end of the period 3.2 4.4 3.2 4.4 -28.4% 1.4

54

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)44.6 37.2 19.8 % 109.4 100.4 8.9 % 135.2

-Inter-segment sales0.9 0.3 229.1 % 2.9 1.3 123.2 % 1.8

Sweden, net sales (external)45.3 36.0 25.7 % 128.4 99.8 28.6 % 144.5

-Inter-segment sales 0.1 0.0 133.9 % 0.4 0.5 -18.8 % 0.7

Norway, net sales (external)39.5 27.5 43.6 % 102.3 82.9 23.4 % 113.7

-Inter-segment sales0.2 0.1 295.7 % 0.4 0.4 16.6 % 0.7

Denmark, net sales (external) 11.3 8.7 29.4 % 29.2 24.2 20.5 % 32.9

-Inter-segment sales0.0 0.2 -100.0 % 0.4 1.9 -79.2 % 2.7

Europe East, net sales (external) 17.1 11.9 43.3 % 39.4 27.2 45.0 % 39.5

-Inter-segment sales0.1 0.4 -86.7 % 0.2 2.2 -92.0 % 3.2

Europe Central, net sales (external) 21.4 19.5 10.1 % 54.4 46.7 16.6 % 65.4

-Inter-segment sales 0.1 0.2 -45.8 % 0.5 1.0 -50.9 % 1.2

Elimination of sales between segments -1.4 -1.2 -12.0 % -4.8 -7.2 33.6 % -10.2

Net sales, total179.2 140.9 27.2 % 463.1 381.2 21.5 % 531.3

55

EBIT BY SEGMENT

EBIT (EUR million) 7-9/11 7-9/10 Change 1-9/11 1-9/10 Change 1-12/10

Finland10.5 7.1 49.2% 16.6 10.9 53.0% 13.7

% of net sales23.2% 18.8% 14.8% 10.7% 10.0 %

Sweden8.2 7.4 9.9% 21.3 15.0 41.5% 23.3

% of net sales 18.0% 20.6% 16.5% 15.0% 16.1 %

Norway3.9 1.7 136.4% 6.7 2.2 199.6% 2.3

% of net sales9.9% 6.1% 6.5% 2.7% 2.0 %

Denmark0.9 -0.2 N/M -0.7 -1.5 53.2% -2.2

% of net sales7.5% -1.9% -2.3% -5.6% -6.2 %

Europe East4.2 -0.7 N/M 3.5 -4.7 N/M -3.5

% of net sales 24.6% -5.7% 8.9% -15.9% -8.3 %

Europe Central 3.5 2.2 59.8% 3.4 -0.1 N/M 0.8

% of net sales 16.3% 11.2% 6.2% -0.3% 1.2 %

Net items not allocated to operating segments -0.7 -0.9 14.7% -2.2 -3.4 33.4% -4.7

Group EBIT30.5 16.6 83.5% 48.6 18.5 163.2% 29.7

% of net sales17.0% 11.8% 10.5% 4.8% 5.6 %

56

LARGEST SHAREHOLDERS

Largets shareholderson 30 September 2011

Number of shares

% of share

capital

1 Nordstjernan AB 31 882 078 29,33

2 Julius Tallberg Oy Ab 11 962 229 11,00

3 Varma Mutual Pension Insurance Company 7 831 299 7,20

4 Ilmarinen Mutual Pension Insurance Company 5 637 214 5,19

5 Tapiola Mutual Pension Insurance Company 2 407 668 2,22

6 Odin Norden 1 835 228 1,69

7 Veritas Pension Insurance Company Ltd 1 463 000 1,35

8 Odin Finland 1 426 259 1,31

9 Odin Europa Smb 1 347 355 1,24

10 Investment Fund Aktia Capital 1 094 002 1,00

Ramirent’s treasury shares 680 192 0,60

Nominee registered shares 16 829 829 15,48

Other shareholders 24 300 975 22,36

Total number of shares 108 697 328 100,00

57

34.9 %

15.5 %40.9 %

8.7 %

Foreign owners

Nominee registered

Finnish companies and organisations

Finnish households

Market Cap EUR 504.4 million

Trading informationListing: NASDAX OMX HelsinkiDate of listing: April 30, 1998

Segment: Mid CapSector: Industrials

Trading code: RMR1V

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EUR

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Thank you!