rr results q2_2013_en_final

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INTERIM REPORT Q2/2013 August 8, 2013 CEO Magnus Rosén CFO Jonas Söderkvist

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Ramirent Q2 2013 Interim Report

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Page 1: Rr results q2_2013_en_final

INTERIM REPORT Q2/2013August 8, 2013

CEO Magnus RosénCFO Jonas Söderkvist

Page 2: Rr results q2_2013_en_final

Agenda

Highlights Q2 and 1-6/2013

Market outlook

Segment review

Financial review

Company overview

Appendix

2

Agenda

Page 3: Rr results q2_2013_en_final

3

Highlights Q2/2013

Net sales MEUR 160.8 (169.7) down by 5.3% (down by 5.8% at comparable exchange rates); adjusted for the transfer of the operations in Russia and Ukraine to Fortrent, net sales decreased by 0.7%

EBITA MEUR 22.7 (24.7) or 14.1% (14.6%) of net sales

Cash flow after investments MEUR −5.2 (7.3)

After the review period, Ramirent signed agreement to divest itsHungarian operation

Highlights: Q2/2013

Page 4: Rr results q2_2013_en_final

4

Highlights 1-6/2013

Net sales MEUR 313.6 (334.1) down by 6.1% (down by 7.2% at comparable exchange rates); adjusted for the transfer of the operations in Russia and Ukraine to Fortrent, net sales decreased by 3.2%

EBITA MEUR 45.3 (39.1) or 14.4% (11.7%) of net sales

EBITA excluding non-recurring items1)

was MEUR 35.1 (39.1) or 11.2% (11.7%)

Net result MEUR 23.3 (22.9) and EPS EUR 0.22 (0.21)

Gross capex MEUR 62.4 (59.6)Cash flow after investments MEUR 13.8 (13.6)

Net debt to EBITDA ratio 1.2x (1.4x)

Highlights: Q2/2013

1) Non-recurring item included a non-taxable capital gain of MEUR 10.1 from the formation of Fortrent.

Oslo,Norway

Page 5: Rr results q2_2013_en_final

5

Quarterly net sales Q1/2010 – Q2/2013 (MEUR)

Second-quarter adjusted net sales were on par with the corresponding period last year

111.5

128.7

140.9

150.1

134.4

149.5

179.2186.8

164.3169.7

185.9194.1

152.8160.8

0

50

100

150

200

250

Q1 Q2 Q3 Q4

2010 2011 2012 2013

Q2/2013 Net sales decreased by 5.3% or 5.8% at comparable exchange rates

Adjusted for the transfer of the operations in Russia and Ukraine to Fortrent, net sales decreased by 0.7%

Highlights: Q2/2013

Page 6: Rr results q2_2013_en_final

6

Quarterly EBITA-margin (%) Q1/2010 – Q2/2013

Profitability remained close to last year's level despite mixed market picture

-4.5%

6.2%

12.4%

8.5%

2.7%

11.0%

17.9%

14.6%

8.7%

14.6%

17.1%

15.3%14.8%

14.1%

-10%

-5%

0%

5%

10%

15%

20%

Q1 Q2 Q3 Q4

2010 2011 2012 2013

Highlights: Q2/2013

Page 7: Rr results q2_2013_en_final

7

7.0

8.6

5.4

0.2

1.6

0.1

5.8

8.9

7.3

-0.1

0.0 0.3

-6

-4

-2

0

2

4

6

8

10

12

EBIT MEUR Q2/2013 vs. Q2/2012

Second-quarter EBIT improved in Norway and Sweden

17.0% 16.9%

14.2%

2.0%

10.8%

0.9%

15.8%16.8%

18.9%

-0.5%

0.3%

2.1%

-5%

0%

5%

10%

15%

20%

EBIT margin, % Q2/2013 vs. Q2/2012

Q2/2012 Q2/2013 Q2/2012 Q2/2013

Highlights: Q2/2013

Page 8: Rr results q2_2013_en_final

After the review period, Ramirentsold its entire Hungarian operation to the Danube SCA Sicar, a private equity fund

The transaction will result in a non-recurring cost due to foreign exchange translation differences of app. EUR 2 million

Divestment is line with aim to strengthen the strategic focus on higher growth opportunities in Ramirent's core markets in the Baltic Sea region

Completion of the sale is expected during the third quarter

Ramirent sold its operations in Hungary

Hungary Net sales* 7 MEURPersonnel: 83 Customer centres: 13*Forecast for 2013

Ramirent Europe Central

Highlights Q2/20138

Page 9: Rr results q2_2013_en_final

All long-term financial targets were met in Q2/2013

9

Leverage and risk

Profit generation

Dividend

Element Target level

ROE

Net Debt / EBITDA ratio

Dividend pay-out ratio

18% p.a. over a business cycle

Below 1.6x at the end of each fiscal year

At least 40% of Net profit

Measure 1–6/2013

19.3%

1.2x

57.6%* of 2012 net profit

*Paid for 2012

Highlights: Q2/2013

Page 10: Rr results q2_2013_en_final

MARKETOUTLOOK

10

Flow Festival, Helsinki, Finland

Flow Festival, Helsinki, Finland

Page 11: Rr results q2_2013_en_final

Market outlook –Construction output forecasts

11

Market outlook

Country 2012 2013F Source

Nordic

Finland −3.8% −1.2% Euroconstruct

Sweden −2.9% −0.8% Euroconstruct

Norway 5.4% 5.7% Euroconstruct

Denmark −1.1% 3.0% Euroconstruct

Europe Central

Poland 0.0% −5.6% Euroconstruct

Czech Republic −7.4% −6.1% Euroconstruct

Slovakia −13.8% −2.0% Euroconstruct

Hungary −5.4% 2.5% Euroconstruct

Europe East

Russia 2.0% 3.0% Euroconstruct

Estonia 19.0% −2.0% Euroconstruct

Latvia 14.0% 7.0% Euroconstruct

Lithuania −7.0% 4.0% Euroconstruct

Ukraine n.a. n.a. Euroconstruct

Source: Euroconstruct June 2013

Page 12: Rr results q2_2013_en_final

Residential construction expected to increase in Norway

12

Source: Euroconstruct June 2013

Residential construction (output) 2008 – 2014F

Index 2008 = 100 (volume)

Forecasts for Europe East countries not available

Market outlook

109

94

122

9291

70

80

90

100

110

120

130

2008 2009 2010 2011 2012 2013F 2014F

Finland Sweden Norway Denmark Europe Central

Page 13: Rr results q2_2013_en_final

Non–residential construction forecasted to remain stable

13

Non–residential construction (output) 2008 – 2014F

Index 2008 = 100 (volume)

78

91

105

67

97

60

70

80

90

100

110

120

2008 2009 2010 2011 2012 2013F 2014F

Finland Sweden Norway Denmark Europe Central

Source: Euroconstruct June 2013 Forecasts for Europe East countries not available

Market outlook

Page 14: Rr results q2_2013_en_final

Renovation markets expected to continue to grow steadily

14

Renovation in construction sector (output) 2008 – 2014F

Index 2008 = 100 (volume)

109

103

121

107

116

70

80

90

100

110

120

130

2008 2009 2010 2011 2012 2013F 2014F

Finland Sweden Norway Denmark Europe Central

Source: Euroconstruct June 2013 Forecasts for Europe East countries not available

Market outlook

Page 15: Rr results q2_2013_en_final

15

Market outlook

Nordic construction order books (inc.Skanska, YIT and SRV) decreased by 3.7% in Q2/2013

A decrease of 3.7% in Q2/13 vs. Q2/12 in construction companies order

books (including Skanska, YIT and SRV)

-40%

-20%

0%

20%

40%

60%

0

1

2

3

4

5

6

7

8

9

Q12007

Q2 Q3 Q4 Q12008

Q2 Q3 Q4 Q12009

Q2 Q3 Q4 Q12010

Q2 Q3 Q4 Q12011

Q2 Q3 Q4 Q12012

Q2 Q3 Q4 Q12013

Q2

Order books: Nordic construction companiesBEUR fixed exchange rates

Skanska YIT

SRV Change in Net sales YoY, R12 Ramirent

Change in order backlog YoY, Nordic construction

Page 16: Rr results q2_2013_en_final

Ramirent outlook for 2013

16

Ramirent previously estimated the full year 2013 EBITA to remain at the 2012 level.

Due to the non-recurring cost of divesting Hungary, Ramirent's 2013 EBITA is expected to be slightly below the 2012 level.

Market outlook

Page 17: Rr results q2_2013_en_final

SEGMENT REVIEW

17

Riga European Capital of Culture 2014,

Latvia

Riga European Capital of Culture 2014,

Latvia

Page 18: Rr results q2_2013_en_final

28

36 3835

30

37

4542

3841

4542

35 36

-5%

0%

5%

10%

15%

20%

25%

30%

0

5

10

15

20

25

30

35

40

45

50

Q12010

Q2 Q3 Q4 Q12011

Q2 Q3 Q4 Q12012

Q2 Q3 Q4 Q12013

Q2

Net sales EBIT-%

Finland

Season started exceptionally late this year

Demand for equipment rental lower than in comparative period

Stable demand in industrial sector

Low market activity in Northern Finland

Price pressure continued

18

Highlights Q2/2013 Sales and EBIT by quarter

Finland Q2 2013

Q2 2012

Change(EUR)

Change(Local)

1–6/ 2013

1–6/ 2012

Change(EUR)

Change(Local)

Net sales, MEUR 36.4 41.4 −12% 71.5 79.8 −11%

EBIT, MEUR 5.8 7.0 −18% 8.9 12.0 −26%

EBIT–margin 15.8% 17.0% 12.4% 15.0%

Personnel 588 619 −5% 588 619 −5%

Customer centres 76 80 −5% 76 80 −5%

Segment review

Page 19: Rr results q2_2013_en_final

19

Demand of equipment rental improved in the end of Q2

In capital region, demand was supported by stable development in construction sector

Lack of big construction projects in Southern Sweden

EBIT improved due to improved utilisation rates and pick up in demand

2935 36

4541 42

45

5448

51 5358

5053

0%

5%

10%

15%

20%

25%

0

10

20

30

40

50

60

70

Q12010

Q2 Q3 Q4 Q12011

Q2 Q3 Q4 Q12012

Q2 Q3 Q4 Q12013

Q2

Net sales EBIT-%

Sales and EBIT by quarter

Segment review

Highlights Q2/2013

Sweden

Sweden Q2 2013

Q2 2012

Change(EUR)

Change(Local)

1–6/ 2013

1–6/ 2012

Change(EUR)

Change(Local)

Net sales, MEUR 53.1 50.9 4% 0% 103.4 99.1 4% 0%

EBIT, MEUR 8.9 8.6 3% 15.6 15.1 3%

EBIT–margin 16.8% 16.9% 15.1% 15.3%

Personnel 702 727 −3% 702 727 −3%

Customer centres 76 84 −10% 76 84 −10%

Page 20: Rr results q2_2013_en_final

Norway

20

High activity in construction and oil & gas sector

Demand was favourable in all geographical areas, except Southern Norway

EBIT improved due to better operational efficiency and good cost control

Price levels increased slightly

28 27 2831 33 30

4042 44

3841

51

38 39

-5%

0%

5%

10%

15%

20%

0

10

20

30

40

50

60

Q12010

Q2 Q3 Q4 Q12011

Q2 Q3 Q4 Q12012

Q2 Q3 Q4 Q12013

Q2

Net sales EBIT-%

Sales and EBIT by quarter

Segment review

Highlights Q2/2013

Norway Q2 2013

Q2 2012

Change(EUR)

Change(Local)

1–6/ 2013

1–6/ 2012

Change(EUR)

Change(Local)

Net sales, MEUR 38.8 38.1 2% 5% 76.9 81.8 −6% −6%

EBIT, MEUR 7.3 5.4 36% 11.7 9.3 25%

EBIT–margin 18.9% 14.2% 15.2% 11.4%

Personnel 472 471 0% 472 471 0%

Customer centres 43 43 − 43 43 −

Page 21: Rr results q2_2013_en_final

21

Demand for equipment rental was stable

Activity in construction sector improved slightly

Profitability still suffering from low price levels

Ramirent has taken actions to reduce fixed costs

89 9 10

810

11

15

1011 11

12

9

11

-20%

-15%

-10%

-5%

0%

5%

10%

0

2

4

6

8

10

12

14

16

Q12010

Q2 Q3 Q4 Q12011

Q2 Q3 Q4 Q12012

Q2 Q3 Q4 Q12013

Q2

Net sales EBIT-%

Sales and EBIT by quarter

Segment review

Highlights Q2/2013

Denmark

Denmark Q2 2013

Q2 2012

Change(EUR)

Change(Local)

1–6/ 2013

1–6/ 2012

Change(EUR)

Change(Local)

Net sales, MEUR 11.2 11.2 0% 0% 20.3 21.0 −4% −3%

EBIT, MEUR −0.1 0.2 n/a −1.5 0.0 n/a

EBIT–margin −0.5% 2.0% −7.5% 0.1%

Personnel 186 178 5% 186 178 5%

Customer centres 16 22 −27% 16 22 −27%

Page 22: Rr results q2_2013_en_final

22

Activity in construction sector remained stable

Adjusted for the transfer of the operations in Russia and Ukraine to Fortrent, net sales increased by 4.9%

Price levels remained stable

The integration of Fortrent’sbusiness operations is proceeding according to plan

8

10

1213

9

13

17 16

12

15

19 17

10

8

-40%

-30%

-20%

-10%

0%

10%

20%

30%

40%

50%

60%

0

2

4

6

8

10

12

14

16

18

20

Q12010

Q2 Q3 Q4 Q12011

Q2 Q3 Q4 Q12012

Q2 Q3 Q4 Q12013

Q2

Net sales EBIT-%

Sales and EBIT by quarter

Segment review

Highlights Q2/2013

(113%)

1) Adjusted for the transfer of the operations in Russia and Ukraine to Fortrent, Q2/2013 net sales increased by 4.9%

2) January-June 2013 EBIT excl. capital gain EUR 0.9 million or 5.2% of net sales

Europe East

Europe East Q2 2013

Q2 2012

Change(EUR)

Change(Local)

1–6/ 2013

1–6/ 2012

Change(EUR)

Change(Local)

Net sales, MEUR 7.6 15.0 −50%1)

−50% 17.3 27.2 −36% −36%

EBIT, MEUR 0.0 1.6 −99% 11.02)

1.5 613%

EBIT–margin 0.3% 10.8% 63.7%2)

5.7%

Personnel 209 433 −52% 209 433 −52%

Customer centres 41 60 −32% 41 60 −32%

Page 23: Rr results q2_2013_en_final

23

Weak demand in all Europe Central countries

Market activity was at low level in construction sector, especially in Poland

EBIT was hampered by weak volumes and low utilisation rates

Intense competition and overcapacity in the market increased pressure on rental prices

12

16

20 19

14

19

22

19

1315

1816

11

14

-50%

-40%

-30%

-20%

-10%

0%

10%

20%

0

5

10

15

20

25

Q12010

Q2 Q3 Q4 Q12011

Q2 Q3 Q4 Q12012

Q2 Q3 Q4 Q12013

Q2

Net sales EBIT-%

Sales and EBIT by quarter

Segment review

Highlights Q2/2013

1) January-June 2013 EBIT excluding EUR 2.9 million impairment loss in the Hungarian goodwill was EUR −2.0 million, representing −8.0% of net sales

Europe Central

Europe Central Q2 2013

Q2 2012

Change(EUR)

Change(Local)

1–6/ 2013

1–6/ 2012

Change(EUR)

Change(Local)

Net sales, MEUR 14.1 15.3 −8% −8% 25.1 28.5 −12% −13%

EBIT, MEUR 0.3 0.1 126% −4.91)

−2.1 n/a

EBIT–margin 2.1% 0.9% −19.6%1)

−7.3%

Personnel 589 676 −13% 589 676 −13%

Customer centres 73 90 −19% 73 90 −19%

Page 24: Rr results q2_2013_en_final

FINANCIAL REVIEW

24

Tall Ships Race, Helsinki,Finland

Tall Ships Race, Helsinki,Finland

Page 25: Rr results q2_2013_en_final

Stable profitability and strong financial position

25

Net Sales (MEUR) EBITDA (MEUR)

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

EBITA (MEUR)

1322

1018

3245

120

4636

24 2837 32 30

0%

10%

20%

30%

40%

50%

60%

70%

80%

0

20

40

60

80

100

120

140

Q12010

Q2Q3Q4Q12011

Q2Q3Q4Q12012

Q2Q3Q4Q12013

Q2

Gross Capex Share of net sales-%

212209197

177191

238

280263258

281256

239220

264

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

0

50

100

150

200

250

300

Q12010

Q2 Q3 Q4 Q12011

Q2 Q3 Q4 Q12012

Q2 Q3 Q4 Q12013

Q2

Net debt Gearing-%

-5

8

17

13

4

17

32

27

14

25

3230

23 23

-10%

-5%

0%

5%

10%

15%

20%

-10

-5

0

5

10

15

20

25

30

35

Q12010

Q2Q3Q4Q12011

Q2Q3Q4Q12012

Q2Q3Q4Q12013

Q2

EBITA EBITA-%

18

31

4237

28

41

5955

42

52

6057

48 49

0%

5%

10%

15%

20%

25%

30%

35%

0

10

20

30

40

50

60

70

Q12010

Q2Q3Q4Q12011

Q2Q3Q4Q12012

Q2Q3Q4Q12013

Q2

EBITDA EBITDA-%

112129

141150134

150

179187164170

186194

153161

-15%

-10%

-5%

0%

5%

10%

15%

20%

25%

30%

0

50

100

150

200

250

Q12010

Q2Q3Q4Q12011

Q2Q3Q4Q12012

Q2Q3Q4Q12013

Q2

Net sales Y-o-y change-%

-4

13 14

24

-11

-20

-37

16

6 7

24

17 19

-5

-40

-30

-20

-10

0

10

20

30

Q12010

Q2 Q3 Q4 Q12011

Q2 Q3 Q4 Q12012

Q2 Q3 Q4 Q12013

Q2

Financial review

Non-recurring items in Q1/2013: Capital gain of EUR 10.1 million booked from the transaction to form Fortrent as well as an impairment loss of EUR 2.9 million in the Hungarian goodwill

First-quarter EBITA excluding non-recurring items was EUR 12.4 million, representing 8.1% of net sales

Page 26: Rr results q2_2013_en_final

Net sales decreased by 5.3% in Q2/2013, comparable net sales decreased by 0.7%

26

112

129

141150

134

150

179187

164170

186194

153161

0

20

40

60

80

100

120

140

160

180

200

220

Q12010

Q2 Q3 Q4 Q12011

Q2 Q3 Q4 Q12012

Q2 Q3 Q4 Q12013

Q2

Net sales (MEUR) Q1/2010 – Q2/2013

1-12/2010: 531.3

Financial review

Net sales decreased by 5.8% at comparable exchange rates

Comparable net sales decreased by 0.7% (adjusted for the transfer of the operations in Russia and Ukraine to Fortrent)

1-12/2011: 649.9 1-12/2012: 714.1 R12: 693.6

Page 27: Rr results q2_2013_en_final

27

Net sales by segment (MEUR) and Change % (YoY)

−12.2% 1.9% −7.7%−49.6%−0.1%4.3%

Net sales grew in Sweden and Norway

Financial review

41.4

50.9

38.1

11.2

15.0 15.3

36.4

53.1

38.8

11.2

7.6

14.1

0

10

20

30

40

50

60

Finland Sweden Norway Denmark Europe East EuropeCentral

Q2/2012 Q2/2013

Page 28: Rr results q2_2013_en_final

Rental income and ancillary income decreased compared to previous year

Q2/2012 compared to Q2/2013:

• Rental income decreased by 6.5%

• Ancillary income decreased by 5.9%

• Income from sold equipment increased by 21.3%

28

66% 65%

31% 30%

4% 5%

0%

20%

40%

60%

80%

100%

Q2/2012 Q2/2013

Income from sold equipment

Ancillary income

Rental income

Breakdown of net sales (%) and MEUR

111.7 104.5

51.848.7

6.3 7.6

0

50

100

150

200

Q2/2012 Q2/2013

Income from sold equipment

Ancillary income

Rental income

Financial review

Page 29: Rr results q2_2013_en_final

Gross margin improved slightly year-on-year

29

Gross margin (%) by quarter

65%

67%

68%

66%

67%67%

68%

69%

66%

68%

66%

68% 69%

64%

67%67%

69%

Q1 Q2 Q3 Q4 FY

2010 2011 2012 2013

Financial review

Page 30: Rr results q2_2013_en_final

Number of employees decreased mainly due to scaling down of operations in Europe Central

At the end of June 2013, the Group’s number of employees was 2,777 (3,129)

At the end of 2012, number of employees in Russia and Ukraine was 238

30

Number of employees by segment

619

727

471

178

433

676

572

677

467

192

443

626588

702

472

186209

589

Finland Sweden Norway Denmark Europe East EuropeCentral

Personnel 30/6/12 Personnel 31/12/12 Personnel 30/6/13

Financial review

Page 31: Rr results q2_2013_en_final

Customer centres were reduced in Sweden, Denmark and Europe Central segment

334 325

Q12010

Q2 Q3 Q4 Q12011

Q2 Q3 Q4 Q12012

Q2 Q3 Q4 Q12013

Q2

Finland Sweden Norway Denmark Europe East Europe Central

Number of customer centres per segment

31

Financial review

353

Page 32: Rr results q2_2013_en_final

Fixed costs have remained well under control

Group fixed costs MEUR 127.3 (132.8) in 1-6/2013

32

Fixed costs by quarter (MEUR)

Financial review

33 33 3238 37 37

41 42 42 40 42 42 42 39

22 23 22

24 27 2525

28 2525

26 27 2422

56 56 54

62 63 6266

70 6865

68 6966

62

Q12010

Q2 Q3 Q4 Q12011

Q2 Q3 Q4 Q12012

Q2 Q3 Q4 Q12013

Q2

Employee benefit expenses Other operating expenses

Page 33: Rr results q2_2013_en_final

Profitability remained stable in the secondquarter 2013

33

-5.1

8.0

17.4

12.7

3.6

16.5

32.0

27.3

14.4

24.7

31.8

29.7

22.61) 22.7

-10%

-5%

0%

5%

10%

15%

20%

-10

-5

0

5

10

15

20

25

30

35

Q12010

Q2 Q3 Q4 Q12011

Q2 Q3 Q4 Q12012

Q2 Q3 Q4 Q12013

Q2

EBITA EBITA-%

EBITA (MEUR) and EBITA-margin (%) Q1/2010 – Q2/2013

1-12/2010: 33.0 1-12/2011: 79.4 1-12/2012: 100.6

1) Non-recurring items in Q1/2013: Capital gain of EUR 10.1 million booked from the transaction to form Fortrent. EBITA excluding non-recurring items was EUR 12.4 million, representing 8.1% of netsales

Financial review

Page 34: Rr results q2_2013_en_final

Group net sales and EBITA excluding transferred operations to Fortrent (in Russia and Ukraine)

34

157.6 148.3 161.9 160.8 176.3 184.7

6.84.6

7.8 0.09.6 9.4

0

50

100

150

200

Group (exc. Russia and Ukraine) Russia and Ukraine

Group Net sales and Net sales in Russia and Ukraine (MEUR)

Financial review

Group EBITA and EBITA in Russia and Ukraine (MEUR)

14.6 11.4

24.1 23.430.1

25.9-0.2 11.4

0.6 0.0

1.73.5

05

101520253035

Group (exc. Russia and Ukraine) Russia and Ukraine Fortrent

−0.2 (Fortrent)

−0.8 (Fortrent)

Page 35: Rr results q2_2013_en_final

January-June 2013 included EUR 7.2 millionof non-recurring items

Reported EBIT was EUR 39.0 (35.1) million or 12.4% (10.5%) of net sales

Non-recurring items in 1-6/2013: Capital gain of EUR 10.1 million booked from the transaction to form Fortrent as well as an impairment loss of EUR 2.9 million in the Hungarian goodwill

EBIT excluding non-recurring items was EUR 31.7 million, representing 10.1% of net sales

35

EBIT (MEUR) 1-6/12 vs 1-6/13

35.139.0

10.12.9

31.7

0

5

10

15

20

25

30

35

40

45

1-6/2012reported

1-6/2013reported

Capital gain Goodwillimpairment

1-6/2013adjusted

Financial review

Page 36: Rr results q2_2013_en_final

Good level of EBIT margin in Norway, Sweden and Finland

36

17.0% 16.9%

14.2%

2.0%

10.8%

0.9%

15.8%16.8%

18.9%

-0.5%

0.3%

2.1%

Finland Sweden Norway Denmark East Central

Q2/12 Q2/13

EBIT–margin (%) by segments

Financial review

Page 37: Rr results q2_2013_en_final

Ramirent continued its cautiousness with capital expenditure

The total value of purchased equipment was 57.3 (41.9) million in 1-6/2013

The value of sold rental equipment was EUR 11.9 (13.8) million in 1-6/2013

37

Purchased and sold equipment by quarter (MEUR)

Financial review

8

19

9

17

30

38

67

34

20 2225

3429 28

5 4 3 4 4 5 612

8 6 6 84

8

Q12010

Q2 Q3 Q4 Q12011

Q2 Q3 Q4 Q12012

Q2 Q3 Q4 Q12013

Q2

Purchased equipment Sold equipment

Page 38: Rr results q2_2013_en_final

Capital expenditure focused on Norway, Sweden and Finland

No acquisitions were made during the quarter

38

5.0

7.9

6.3

0.3

2.6

1.5

6.4

8.2 8.3

2.22.8

1.1

Finland Sweden Norway Denmark East Central

4–6/2012 4–6/2013

Capital Expenditure by segments (MEUR)

Financial review

Page 39: Rr results q2_2013_en_final

Working capital again at some 6% of net sales

Q2/2013 credit losses and net change in the allowance for bad debt totalled EUR −0.9 (−0.9) million

Dividend of EUR 36.6 million paid in April 2013

39

15 14 14 16 16 17 17 17 18 18 20 15 15 15

83 90 99

97

95

109

124

120

114

131

141

136

115

129

-69

-86

-86

-89

-82

-84

-107

-109

-139

-112

-122

-113

-143 -98

-6%

-4%

-2%

0%

2%

4%

6%

8%

-120

-80

-40

0

40

80

120

160

Q12010

Q2 Q3 Q4 Q12011

Q2 Q3 Q4 Q12012

Q2 Q3 Q4 Q12013

Q2

Trade payables and other liabilitiesTrade and other receivablesInventoriesWorking capital/Net sales Rolling 12 month basis

Working capital by quarter (MEUR)

Financial review

Page 40: Rr results q2_2013_en_final

Return on investment remained stable in the second quarter

40

Invested capital (MEUR) and ROI (%) rolling 12 months

524 508 509 496 508536

588 591565

602 605 604654

611

0%

5%

10%

15%

20%

25%

0

100

200

300

400

500

600

700

Q12010

Q2 Q3 Q4 Q12011

Q2 Q3 Q4 Q12012

Q2 Q3 Q4 Q12013

Q2

Invested capital ROI % (R12)

Return on invested capital, ROI 19.2% (19.0%) at the end of June2013

Financial review

Page 41: Rr results q2_2013_en_final

Cash flow after investments at lower level compared with the previous year

41

Cash flow after investments (MEUR)

Financial review

−4.0

13.4 14.4

24.2

−10.7

−20.4

−36.8

15.9

6.4 7.3

23.716.8 19.0

−5.2

Q12010

Q2 Q3 Q4 Q12011

Q2 Q3 Q4 Q12012

Q2 Q3 Q4 Q12013

Q2

Cash flow after investments Cash flow after investments, Rolling 12 months

1-12/2010: 48.0 1-12/2011: −52.0 1-12/2012: 54.2 R12: 54.3

Page 42: Rr results q2_2013_en_final

212 209197

177191

238

280263 258

281

256239

220

264

1.8x1.9x

1.7x

1.4x 1.4x

1.6x1.7x

1.4x

1.2x1.4x

1.2x1.1x

1.0x

1.2x

0

1

2

3

0

50

100

150

200

250

300

Q12010

Q2 Q3 Q4 Q12011

Q2 Q3 Q4 Q12012

Q2 Q3 Q4 Q12013

Q2

Net debt Net debt to EBITDA ratio

Ramirent's financial position is strong

Net debt to EBITDA 1.2x (1.4x) at the end of June 2013

Dividend of EUR 36.6 million was paid in the second quarter

42

Net debt (MEUR) and Net debt to EBITDA ratio

Financial review

Page 43: Rr results q2_2013_en_final

At end of June 2013, Ramirent had unused committed back–up loan facilities of EUR 174.7 million

In addition to bank facilities, Ramirent is utilising a domestic commercial paper program of up to EUR 150 million

43

Repayment schedule of interest–bearing liabilities (MEUR)

Financial review

100

240

100

2013 2014 2015 2016 2017 2018 2019

264 MEUR in net debt

440 MEUR in committed credit facilities

Page 44: Rr results q2_2013_en_final

Return on equity remained above the long-term financial target

44

309296 308 318 316

296 305326

305319

347364

342 344

-5%

0%

5%

10%

15%

20%

25%

0

50

100

150

200

250

300

350

400

Q12010

Q2 Q3 Q4 Q12011

Q2 Q3 Q4 Q12012

Q2 Q3 Q4 Q12013

Q2

Total equity ROE % (R12)

Total equity (MEUR) and ROE (%) rolling 12 months

Return on equity, ROE 19.3% (19.0%) for last 12 months

Financial review

Page 45: Rr results q2_2013_en_final

For more information:www.ramirent.com

Magnus Rosén, CEO+358 20 750 [email protected]

Jonas Söderkvist, CFO+358 20 750 [email protected]

Franciska Janzon, IR+358 20 750 [email protected]

Page 46: Rr results q2_2013_en_final

COMPANYOVERVIEW

46

Page 47: Rr results q2_2013_en_final

Ramirent in brief

47

Leading equipment rental company in Northern, Central

and Eastern Europe with net sales of EUR 714 million

(2012)

Presence in 11 countries through 325 customer centers and

in two countries through joint venture Fortrent

Listed on NASDAQ OMX Helsinki since 1998

2,777 employees serving 200,000 customers with 200,000

rental items

Founded in 1955 and headquartered in Finland

Company overview

Page 48: Rr results q2_2013_en_final

Ramirent operates in Europe with Baltic Sea region being the core market

48

Sales per segment 1-6/2013Wide network of customer centresand leading market position (Q2/13)

Finland23%

Sweden32%

Norway25%

Denmark6%

EuropeEast 6%

Europe Central8%

Sales per customer 1-12/2012

Construc-tion68%

Services &Retail10%

Industrial15%

Private3%

Public4%

Target is to increase sales to non-constructioncustomers to 40% of the Group's net sales

Finland76 customer centres # 1

Europe East

41 customer centres# 1

Norway43 customer

centres# 1

Denmark16 customer

centres# 1

EuropeCentral

73 customer centres# 1

Sweden76 customer centres # 2

Company overview

Fortrent,presencethrough JV

Page 49: Rr results q2_2013_en_final

Targeting a wider range of customer industries in all countries

Shipyards

Construction

HouseholdsAviationPower

Oil and gas

Public

Windpower

49© 2013 Ramirent

Page 50: Rr results q2_2013_en_final

End of 2009

We accelerate our growth through acquisitions and outsourcing cases

50

Outsourcing dealin Denmark

Outsourcing dealin Finland Acquisition of

Finnish weather protection rental

company

Outsourcing deal with twosubsidiaries in Finland

Outsourcing deal in Finland

Active screening of acquisition targets

Acquisition of Swedish rental company

Outsourcing deal in Norway

Acquisition of Czech rental

business

Aquisition of

Czech rental

business

Acquisition of Czech rental

business

Acquisition ofSwedish rental

company

Acquisition ofDanish rental

business

Acquisition of specialist module rental company in

Norway

Danish scaffolding

division

Acquisition of

Swedish rental

company

Acquisition of Swedish rental

company

2010

20112012

Outsourcing dealin Norway

Fortrent(JV with Cramo

in Russia and Ukraine)

2013

Company overview

Page 51: Rr results q2_2013_en_final

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

51

Our strategic choices

Values

Open, Progressive, Engaged

Brand promise

Let’s solve it

Page 52: Rr results q2_2013_en_final

Broadest range of equipment and Dynamic Rental SolutionsTM

52

RAMIRENT OFFERING

CUSTOMER NEEDS

PRODUCTS

• Light machinery

• Heavy machinery

• Lifts

• Power and

heating

• Modules

• Tower cranes

and hoists

• Scaffolding

• SAFE

SERVICES

• Planning

• Business Support

• On-Site Support

• Merchandise Sales

• Rental Insurance

• Training

SOLUTIONS

• SpaceSolve

• SafeSolve

• AccessSolve

• EcoSolve

• PowerSolve

• ClimateSolve

• TotalSolve

Benefits:

Lighter balance sheets,less investments

Benefits:

More uptime in core operations due to less downtime in equipment,less maintenance costs, right choice of equipmentimproves efficiency,less product liability risk

Benefits:

Easy to buy, reduced number ofsubcontractors, increased focuson the core business

OUTSOURCING

Benefits:

By outsourcing their machine fleet to Ramirent, companies can increase efficiency and simplify their business by focusing on core competencesINDUSTRIES

• Construction • Mining • Paper

• Power generation • Oil & gas

• Shipyards • Retail and Service

• Public sector • Households

Company overview

Page 53: Rr results q2_2013_en_final

Our offering

53

Company overview

Page 54: Rr results q2_2013_en_final

54

Strategic priorities 2013

Customer first

Sustainable profitable growth

Common Ramirent platform

Balanced business portfolio

• Strong customer-centric approach with increased focus on sustainability, safety and quality

• Being the leading and most profitable general rental company where present

• Developing a one-company structure with operational consistency

• Maintain a balanced portfolio of customers, products and markets to balance risk

Company overview

Page 55: Rr results q2_2013_en_final

Weak Stable Strong

Strategic themes

Customer FirstSustainable profitable growth

Operational ExcellenceBalanced portfolio of customers, products and markets

Operational themes

• Safe-guard profitability and cash flow

• Consolidate market –Outsourcing cases

• Pricing discipline • Execute contingency plans • Reduce costs and transform fixed costs to variable

• Reduce financial risk, focus on A/R and credits

• Amortise debt• Limited capex, transfer fleet to where demand is

• Realise synergies through operational excellence

• Consolidate market –Bolt-on acquisitions

• Maintenance capex

• Profitable growth• Drive penetration and capture growth opportunities

• Keep control of fixedcost base

• Prepare contingency plans

• Growth capex for expansion

Business cycleBusiness cycle

Counter cyclicalcash flow

Counter cyclicalcash flow

Market conditions

55

Weak market conditions in 2009-2010

Increased demand and investments

2011-2012

Our strategic and operational themes through the business cycles

Company overview

Page 56: Rr results q2_2013_en_final

56

Organic growth drivers70%

60%

45%

40%

40%

30%

30%

25%

20%

20%

15%

15%

10%

10%

10%

0%

20%

40%

60%

80%

100%

Increasing rental penetration

Expansion in select customer industries

RamirentLoxamCramoAlgeco ScotsmanSpeedy HireLiebherr-MietpartnerGAMMediaco LiftingSarensKiloutouHKL BaumschinenOthers

Consolidation opportunities in Europe

External growth drivers

M&A activity

Outsourcingdeals

Bolt-on and selected strategicacquisitions

JointVentures

Good organic and strategic growth opportunities

Construc-tion68%

Services &Retail10%

Industrial15%

Private3%Public

4%

Targeting 40% of Group sales to non-constructioncustomers

Company overview

Page 57: Rr results q2_2013_en_final

Summary of company’s strengths

Leading equipment rental company in Northern, Central and Eastern Europe

More than 50 years industry experience

Diversified portfolios of customers, products and markets

Stable profitability and steady cash flow

Flexibility to maneuver: capexand cost flexibility, strong balance sheet

Strong financial position and funding

Company overview

57

Page 58: Rr results q2_2013_en_final

Largest shareholders

Largest shareholdersJune 30, 2013

Number of shares

% of sharecapital

1. Nordstjernan AB 31,882,078 29.33%

2. Oy Julius Tallberg Ab 12,207,229 11.23%

3. Varma Mutual Pension Insurance Company 6,753,799 6.21%

4. Odin funds 4,138,955 3.81%

5. Ilmarinen Mutual Pension Insurance Company 4,145,154 3.81%

6. Nordea funds 3,080,208 2.83%

7. Aktia funds 2,087,211 1.92%

8. Veritas Pension Insurance Company Ltd 1,340,882 1.23%

9. Fondita funds 1,169,822 1.08%

10. Föreningen Konstsamfundet Rf 825,000 0.76%

Ramirent Oyj treasury shares 998,631 0.92%

Nominee registered 19,346,680 17.80%

Other shareholders 20,721,679 19.06%

Total 108,697,328 100.00%

58

Market Cap EUR 721.8 million

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

Segment: Mid CapSector: Industrials

Trading code: RMR1V

16%

26%

12%10%

2%

34%

Private companies

Financial and insurance institutions

Public sector organizations

Households

Non-profit organizations

Foreigners

Shareholders June 30, 2013

Company overview

Page 59: Rr results q2_2013_en_final

59

EURRamirent Plc (RMR1V)

Company overview

7.22 EUR*

Share price development

*August 6, 2013

0.00

2.00

4.00

6.00

8.00

10.00

12.00

14.00

Page 60: Rr results q2_2013_en_final

APPENDIX

60

Page 61: Rr results q2_2013_en_final

Consolidated income statement

61

Appendix

CONSOLIDATED INCOME STATEMENT 4–6/13 4–6/12 1–6/13 1–6/12

Restated*

1–12/12

(EUR 1,000)

Rental income 104,463 111,693 203,369 214,766 463,070

Ancillary income 48,748 51,788 98,356 105,533 223,899

Sales of equipment 7,593 6,258 11,897 13,770 27,115

NET SALES 160,803 169,738 313,623 334,069 714,083

Other operating income 521 557 11,696 983 3,026

Materials and services −50,230 −53,748 −100,188 −108,803 −237,184

Employee benefit expenses −39,313 −40,210 −81,188 −82,699 −166,324

Other operating expenses −22,201 −24,788 −46,177 −50,149 −103,249

Share of result in associates and joint ventures −817 56 −925 56 116

Depreciation and amortisation and impairment charges −27,791 −28,859 −57,863 −58,370 −117,943

EBIT 20,973 22,746 38,978 35,087 92,524

Financial income 5,582 2,549 9,824 9,565 20,320

Financial expenses −11,307 −5,319 −18,355 −14,006 −29,803

EBT 15,248 19,976 30,447 30,646 83,041

Income taxes −2,951 −5,019 −7,131 −7,792 −19,291

NET RESULT FOR THE PERIOD 12,297 14,958 23,316 22,854 63,749

Net result for the period attributable to:

Owners of the parent company 12,297 14,958 23,316 22,854 63,749

Non-controlling interest − − − − −

TOTAL 12,297 14,958 23,316 22,854 63,749

Earnings per share (EPS)

EPS on parent company shareholders' share of profit, basic, EUR 0.11 0.14 0.22 0.21 0.59

EPS on parent company shareholders' share of profit, diluted, EUR 0.11 0.14 0.22 0.21 0.59

*Retrospective application of amendment to IAS 19 affecting Sweden and Norway segments

Page 62: Rr results q2_2013_en_final

62

Appendix

Balance sheet - Assets

CONSOLIDATED BALANCE SHEET 30/6/2013

Restated*

30/6/2012

Restated*

31/12/2012

(EUR 1,000)

ASSETS

NON-CURRENT ASSETS

Property, plant and equipment 435,457 477,196 451,511

Goodwill 126,719 134,394 133,515

Other intangible assets 39,254 39,864 40,381

Investments in associates and Joint Ventures 21,351 1,037 1,125

Non-current loan receivables 20,261 − −

Available-for-sale investments 412 412 412

Deferred tax assets 1,824 13,874 10,344

TOTAL NON-CURRENT ASSETS 645,278 666,778 637,288

CURRENT ASSETS

Inventories 14,765 18,103 15,250

Trade and other receivables 127,316 131,019 135,600

Current income tax assets 1,343 193 145

Cash and cash equivalents 3,093 2,089 1,338

TOTAL CURRENT ASSETS 146,516 151,404 152,333

Assets held for sale 6,702 − 42,250

TOTAL ASSETS 798,497 818,182 831,872

*Retrospective application of amendment to IAS 19 affecting Sweden and Norway segments

Page 63: Rr results q2_2013_en_final

Balance sheet – Equity and liabilities

63

Appendix

CONSOLIDATED BALANCE SHEET 30/6/2013

Restated*

30/6/2012

Restated*

31/12/2012

(EUR 1,000)

EQUITY

Share capital 25,000 25,000 25,000

Revaluation fund −3,315 −4,568 −4,924

Invested unrestricted equity fund 113,568 113,329 113,329

Retained earnings 208,745 185,444 230,168

PARENT COMPANY SHAREHOLDERS’ EQUITY 343,997 319,205 363,573

Non-controlling interests − − −

TOTAL EQUITY 343,997 319,205 363,573

NON-CURRENT LIABILITIES

Deferred tax liabilities 59,657 78,082 73,333

Pension obligations 14,094 10,806 13,948

Provisions 909 1,140 972

Interest-bearing liabilities 245,948 223,818 191,199

Other long-term liabilities 5,588 9,133 8,071

TOTAL NON-CURRENT LIABILITIES 326,196 322,978 287,523

CURRENT LIABILITIES

Trade payables and other liabilities 97,400 111,592 112,956

Provisions 166 1,221 826

Current income tax liabilities 8,399 4,273 10,936

Interest-bearing liabilities 21,339 58,913 49,513

TOTAL CURRENT LIABILITIES 127,304 175,999 174,231

Liabilities classified as held for sale 999 − 6,545

TOTAL LIABILITIES 454,499 498,977 468,299

TOTAL EQUITY AND LIABILITIES 798,497 818,182 831,872

*Retrospective application of amendment to IAS 19 affecting Sweden and Norway segments

Page 64: Rr results q2_2013_en_final

Key figures

64

Appendix

KEY FINANCIAL FIGURES 4–6/13 4–6/12 1–6/13

Restated*

1–6/12

Restated*

1–12/12

(MEUR)

Net sales, EUR million 160.8 169.7 313.6 334.1 714.1

Increase in net sales, % −5.3% 13.5% −6.1% 17.7% 9.9%

EBITDA and impairment charges, EUR million 48.8 51.6 96.8 93.5 210.5

EBITDA and impairment charges, % of net sales 30.3% 30.4% 30.9% 28.0% 29.5%

EBITA, EUR million 22.7 24.7 45.3 39.1 100.6

EBITA, % net sales 14.1% 14.6% 14.4% 11.7% 14.1%

EBIT, EUR million 21.0 22.7 39.0 35.1 92.5

EBIT, % of net sales 13.0% 13.4% 12.4% 10.5% 13.0%

EBT, EUR million 15.2 20.0 30.4 30.6 83.0

EBT, % of net sales 9.5% 11.8% 9.7% 9.2% 11.6%

Net result for the financial year, EUR million 12.3 15.0 23.3 22.9 63.7

Net result for the financial year, % of net sales 7.6% 8.8% 7.4% 6.8% 8.9%

Gross capital expenditure, EUR million 30.0 23.9 62.4 59.6 124.0

Gross capital expenditure, % of net sales 18.7% 14.1% 19.9% 17.8% 17.4%

Invested capital, EUR million, end of period 611.3 601.9 604.3

Return on invested capital (ROI), %** 19.2% 19.0% 18.9%

Return on equity (ROE), %** 19.3% 19.0% 18.6%

Interest-bearing debt, EUR million 267.3 282.7 240.7

Net debt, EUR million 264.2 280.6 239.4

Net debt to EBITDA ratio 1.2x 1.4x 1.1x

Gearing, % 76.8% 87.9% 65.8%

Equity ratio, % 43.1% 39.1% 43.7%

Personnel, average during financial year 2,834 3,111 3,077

Personnel, at end of financial year 2,777 3,129 3,005

*Retrospective application of amendment to IAS 19 affecting Sweden and Norway segments**The figures are calculated on a rolling twelve month basis.

Page 65: Rr results q2_2013_en_final

Consolidated cash flow statement

65

Appendix

CONSOLIDATED CASH FLOW STATEMENT 4–6/13 4–6/12 1–6/13 1–6/12 1–12/12

(EUR 1,000)

Cash flow from operating activities

Result before taxes 15,248 19,976 30,447 30,646 83,041

Adjustments (depreciation and other non-cash items) 40,976 35,238 60,825 70,234 138,461

Change in working capital −19,998 −13,647 −3,395 −11,453 −25,368

Interest paid −2,427 −3,029 −5,050 −6,291 −12,293

Interest received 828 912 1,307 1,978 3,470

Income tax paid −7,144 −5,253 −14,587 −9,696 −13,325

Net cash generated from operating activities 27,483 34,198 69,547 75,417 173,985

Cash flow of investing activities

Acquisition of subsidiaries, net of cash − −3,558 − −13,595 −13,940

Investment in tangible non-current asset −30,994 −21,432 −59,987 −38,623 −99,177

Investment in intangible non-current assets −1,776 −2,119 −3,533 −9,824 −7,598

Proceeds from sale of tangible and intangible non-current assets (exl. used rental equipment) 69 161 123 267 897

Proceeds from sales of subsidiaries − − 9,200 − −

Loan receivables, increase, decrease and other changes −11 − −1,577 − −

Net cash flow of investing activities −32,712 −26,947 −55,773 −61,776 −119,818

Cash flow from financing activities

Dividends paid −36,618 −30,147 −36,618 −30,147 −30,147

Purchase of treasury shares − − − −2,714 −2,714

Borrowings and repayments of short-term debt (net) −13,610 22,168 −28,173 13,668 5,500

Borrowings and repayments of long-term debt (net) −33,888 192 52,771 5,210 −27,900

Net cash flow of financing activities −84,116 −7,786 −12,019 −13,983 −55,261

Net change in cash and cash equivalents during the financial year −89,344 −535 1,755 −342 −1,094

Cash at the beginning of the period 92,437 2,625 1,338 2,431 2,431

Cash at the end of the period 3,093 2,089 3,093 2,089 1,338

Page 66: Rr results q2_2013_en_final

Segment information: Net sales

66

Appendix

NET SALES 4–6/13 4–6/12 1–6/13 1–6/12 1–12/12

(MEUR)

FINLAND

- Net sales (external) 36.2 41.0 71.2 78.9 165.0

- Inter-segment sales 0.2 0.5 0.3 0.9 1.5

SWEDEN

- Net sales (external) 53.2 49.8 103.1 97.9 207.5

- Inter-segment sales − 1.2 0.3 1.2 2.4

NORWAY

- Net sales (external) 38.8 38.1 76.9 81.8 173.6

- Inter-segment sales − − − 0.1 0.5

DENMARK

- Net sales (external) 11.2 11.2 20.3 21.0 44.6

- Inter-segment sales − − − − 0.1

EUROPE EAST

- Net sales (external) 7.6 15.0 17.3 27.0 63.0

- Inter-segment sales − − − 0.2 0.3

EUROPE CENTRAL

- Net sales (external) 13.9 14.8 24.9 27.6 60.4

- Inter-segment sales 0.2 0.5 0.2 1.0 2.3

Elimination of sales between segments −0.4 −2.2 −0.8 −3.4 −7.1

NET SALES, TOTAL 160.8 169.7 313.6 334.1 714.1

Other operating income 0.5 0.6 11.7 1.0 3.0

Page 67: Rr results q2_2013_en_final

Segment information: EBIT and EBIT-margin

67

Appendix

EBIT 4–6/13 4–6/12 1–6/13 1–6/12

Restated*

1–12/12

(MEUR)

FINLAND 5.8 7.0 8.9 12.0 30.2

% of net sales 15.8% 17.0% 12.4% 15.0% 18.2%

SWEDEN 8.9 8.6 15.6 15.1 33.3

% of net sales 16.8% 16.9% 15.1% 15.3% 15.9%

NORWAY 7.3 5.4 11.7 9.3 22.2

% of net sales 18.9% 14.2% 15.2% 11.4% 12.8%

DENMARK −0.1 0.2 −1.5 0.0 1.6

% of net sales −0.5 % 2.0 % −7.5 % 0.1 % 3.6 %

EUROPE EAST 0.0 1.6 11.0 1.5 10.9

% of net sales 0.3 % 10.8 % 63.7 % 5.7 % 17.3 %

EUROPE CENTRAL 0.3 0.1 −4.9 −2.1 −1.6

% of net sales 2.1 % 0.9 % −19.6 % −7.3 % −2.5 %

Net items not allocated to operating

segments −1.3 −0.4 −1.7 −0.8 −4.2

GROUP EBIT 21.0 22.7 39.0 35.1 92.5

% of net sales 13.0 % 13.4 % 12.4 % 10.5 % 13.0 %

*Retrospective application of amendment to IAS 19 affecting Sweden and Norway segments

Page 68: Rr results q2_2013_en_final

For more information:www.ramirent.com

Magnus Rosén, CEO+358 20 750 [email protected]

Jonas Söderkvist, CFO and EVP Corporate Functions+358 20 750 [email protected]

Franciska Janzon, IR+358 20 750 [email protected]