1. FINANCIAL
STATEMENTS 2012
February 12, 2013
CEO Magnus Rosén
CFO Jonas Söderkvist

2. Agenda
Highlights: Q4 and FY2012
Market outlook and guidance
Segment review
Financial Review
Company overview
Appendix
Financial Statements 2012 2
Agenda

3. Highlights: Q4/2012
Net sales MEUR 194.1 (186.8)
up 3.9% or 0.5% at comparable
exchange rates
EBITDA MEUR 56.5 (55.0)
EBITDA–margin 29.1% (29.4%)
EBITA MEUR 29.4 (27.3)
EBITA–margin 15.2% (14.6%)
EBIT MEUR 27.5 (25.5)
EBIT–margin 14.2% (13.6%)
Gross capex MEUR 36.8 (45.9)
Cash flow after investments
MEUR 16.8 (15.9)
Decision on formation of a joint
venture with Cramo in Russia and
Ukraine
Financial Statements 2012 3
Highlights: FY2012 and Q4

4. January–December 2012: Profitability
improved and all–time high sales
Net sales MEUR 714.1 (649.9)
up 9.9% or 7.7% at comparable
exchange rates
EBITDA MEUR 210.2 (181.8)
EBITDA–margin 29.4% (28.0%)
EBITA MEUR 100.3 (79.4)
EBITA–margin 14.1% (12.2%)
EBIT MEUR 92.3 (74.1)
EBIT–margin 12.9% (11.4%)
Gross capex MEUR 124.0 (242.2)
Cash flow after investments MEUR
54.2 (−52.0)
Net debt MEUR 239.4 (262.8)
Net debt to EBITDA 1.1x (1.4x)
Customer centres 358 (406)
Financial Statements 2012 4
Highlights: FY2012 and Q4

5. Profitability is improving steadily
Net Sales (MEUR) and EBIT (%)
Net sales EBIT,%
800 30%
703 714
700 634 650
25%
600
531
498 503 20%
500
389
400 15%
300
10%
200
5%
100
0 0%
2005 2006 2007 2008 2009 2010 2011 2012
Financial Statements 2012 5
Highlights: FY2012 and Q4

6. Full–year net sales grew in all segments
except Europe Central
YoY Change in net sales,% Q4/12 YoY Change in net sales,% 1–12/12
25% 22% 25%
20%
20% 20%
15%
15% 15% 13%
10%
10% 7% 10% 8%
4% 5%
5% 5%
1%
0% 0%
-5% -2% -5%
-10% -10%
-15% -15%
-14%
-16% -15%
-20% -20%
Financial Statements 2012 6
Highlights: FY2012 and Q4

7. EBIT margin improved in Q4 in all segments
expect Sweden and Central Europe
EBIT margin Q4/12 vs. Q4/11 EBIT margin 1–12/12 vs. 1–12/11
35% 20% 18%
17%
29% 16%
30%
15%
13% 13%
25%
10%
20% 18% 16%
14%
15% 13% 5% 4%
10%
7% 0%
5%
1%
-3%
0% -5%
Q4 2011 Q4 2012 1–12 2011 1–12 2012
Q4 2011 Q4 2012 1–12 2011 1–12 2012
Financial Statements 2012 7
Highlights: FY2012 and Q4

8. Cash flow improved clearly in 2012
Cash flow Q4/12 vs. Q4/11 Cash flow 1–12/12 vs. 1–12/11
50 60 54.2
40
40
20
30
0
20 16.8
15.9
-20
10
-40
0 -60 –52.0
Cash flow after investments Cash flow after investments
Q4/11 Q4/12 1–12/11 1–12/12
Financial Statements 2012 8
Highlights: FY2012 and Q4

9. Long-term financial targets were met in 2012
Element Measure Target level 1–12/2012
Profit 18% p.a. over a
ROE 18.3%
generation business cycle
Net Debt / Below 1.6x at
Leverage
EBITDA the end of each 1.1x
and risk
ratio fiscal year
Dividend 57.6%* of
At least 40% of
Dividend pay-out 2012
Net profit
ratio net profit
*Board’s proposal
Financial Statements 2012 9
Highlights: FY2012 and Q4

10. Dividend proposal EUR 0.34 per share
Earnings Per Share and Dividend Per Share
*Board’s proposal
1,20
1.02
1,00
0,80 0.73
0.59
0,60 .0.50
0.41
0,40 0.33
.0.30 0.31 0.34*
0.28
0.25
0,20 0.15 0.15 0.13
0.04
0.00
0,00
2005 2006 2007 2008 2009 2010 2011 2012
EPS DPS
The Board proposes a dividend of EUR 0.34 (0.28) per share for the
year 2012
Payout ratio 57.6%* (67.6%)
Financial Statements 2012 10
Highlights: FY2012 and Q4

11. MARKET
OUTLOOK
11

12. Market outlook –Construction output forecasts
Country 2013F 2014F Source
Nordic
Finland −2.3% 0.8% Euroconstruct
Sweden 0.2% 2.6% Euroconstruct
Norway 5.6% 2.5% Euroconstruct
Denmark 2.2% 4.4% Euroconstruct
Europe Central
Poland −3.4% −1.0% Euroconstruct
Czech Republic −1.9% 0.8% Euroconstruct
Slovakia −1.0% 2.2% Euroconstruct
Hungary 0.9% 3.4% Euroconstruct
Europe East
Russia 0–5% 0–5% Euroconstruct
Estonia 2.0% −3.0% Euroconstruct
Latvia 4.0% −2.0% Euroconstruct
Lithuania 3.0% −1.0% Euroconstruct
Ukraine N/A. N/A. N/A.
Source: Euroconstruct, December 2012
Financial Statements 2012 12
Market outlook

13. Residential construction expected to increase
in Norway
Residential construction (output) 2008A – 2014F
120 120
115
Index 2008 = 100 (volume)
110 109
105
100
95
94
90 91
88
85
80
75
70
2008 2009 2010 2011 2012E 2013F 2014F
Finland Sweden Norway Denmark Europe Central
Source: Euroconstruct December 2012 Forecasts for Europe East countries not available
Financial Statements 2012 13
Market outlook

14. Non–residential construction forecasted to
remain stable
Non–residential construction (output) 2008A – 2014F
120
110
Index 2008 = 100 (volume)
104
100
96
94
90
80 80
70 71
60
2008 2009 2010 2011 2012E 2013F 2014F
Finland Sweden Norway Denmark Europe Central
Source: Euroconstruct December 2012 Forecasts for Europe East countries not available
Financial Statements 2012 14
Market outlook

15. Nordic construction order books continued to
decrease in Q4/2012
Order books: Nordic construction companies
(BEUR, real exchange rates)*
14 60%
12
40%
10
20%
8
6
0%
4
-20%
2
0 -40%
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
2007 2008 2009 2010 2011 2012 2
Skanska NCC
YIT Lemminkäinen
Change in Net sales YoY, R12 Ramirent Change in order backlog YoY, Nordic construction
8.2% decrease in Q4/2012 compared to Q4/2011
*Order books for Swe, Fin, Nor, Den excluding Veidekke, Peab and SRV that had not reported by February 12, 2013
Financial Statements 2012 15
Market outlook

16. Ramirent outlook for 2013
In 2013, EBITA is
expected to remain
at the level of 2012
Financial Statements 2012 16
Market outlook

17. Strategic priorities 2013
Customer • Strong customer-centric
approach with increased
first focus on sustainability, safety
and quality
Sustainable • Being the leading and most
profitable general rental
profitable growth company where present
Common • Developing a one-company
structure with operational
Ramirent platform consistency
Balanced • Maintain a balanced portfolio
of customers, products and
business portfolio markets to balance risk
Financial Statements 2012 17

18. SEGMENT
REVIEW
18

19. Finland
Highlights Q4/2012 Sales and EBIT by quarter
Good demand from industrial 50 30%
45 45
sector 41 42
38
41 42
25%
36 38 35
In construction sector, demand 40 37
34 20%
31 30
for equipment rental remained 30
29 28
15%
stable 10%
20
Good demand in Southern and 5%
Northern Finland 10
0%
EBIT improved thanks to good 0 -5%
price discipline and enhanced Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
2009 2010 2011 2012
utilisation rates
Net sales EBIT-%
Finland Q4 Q4 Change Change 1–12/ 1–12/ Change Change
2012 2011 (EUR) (Local) 2012 2011 (EUR) (Local)
Net sales, MEUR 41.7 42.5 −2% −2% 166.5 154.7 8% 8%
EBIT, MEUR 7.3 6.2 19% 30.2 22.8 33%
EBIT–margin 17.6% 14.6% 18.2% 14.7%
Employees 572 596 −4%
Outlets 76 83 −8%
Financial Statements 2012 19
Segment review

20. Sweden
Highlights Q4/2012 Sales and EBIT by quarter
Good demand in the capital city 70 25%
area and Western Sweden in 60 54
51 53
58
20%
construction 50 45
41 42
45
48
Good activity in industrial 40
32 33 31 32 29
35 36 15%
projects in Northern Sweden 30 10%
EBIT was burdened by an 20
increase in external work 10
5%
related to module projects 0 0%
Erik Alteryd was appointed as Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
2009 2010 2011 2012
head of Sweden segment (to
start latest in July 2013) Net sales EBIT-%
Sweden Q4 Q4 Change Change 1–12/ 1–12/ Change Change
2012 2011 (EUR) (Local) 2012 2011 (EUR) (Local)
Net sales, MEUR 57.9 53.9 7% 2% 209.9 182.7 15% 11%
EBIT, MEUR 9.2 11.9 –23% 33.1 33.2 -
EBIT–margin 15.9% 22.2% 15.7% 18.2%
Employees 677 630 7%
Customer 79 79 -
centres
Financial Statements 2012 20
Segment review

21. Norway
Highlights Q4/2012 Sales and EBIT by quarter
Ramirent continued to 60 20%
51
experience good demand from 50 44 15%
construction as well as other 40
40 42 38
41
industrial sectors 29 29 28 27 28
31 33 30 10%
30 25 27
EBIT strengthened clearly 5%
thanks to growth in net sales, 20
0%
higher utilisation rates as well 10
as good cost control 0 -5%
Price level remained stable
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
2009 2010 2011 2012
Net sales EBIT-%
Norway Q4 Q4 Change Change 1–12/ 1–12/ Change Change
2012 2011 (EUR) (Local) 2012 2011 (EUR) (Local)
Net sales, MEUR 51.0 42.0 22% 16% 174.0 144.8 20% 15%
EBIT, MEUR 6.5 4.5 44% 22.2 11.2 98%
EBIT–margin 12.7% 10.7% 12.8% 7.7%
Employees 467 486 −4%
Outlets 42 42 -
Financial Statements 2012 21
Segment review

22. Denmark
Highlights Q4/2012 Sales and EBIT by quarter
Demand of the equipment rental 16 15 20%
weakened due to slowing activity 14
12 12 10%
11 11 11
in construction market 12 11 11 10 10 0%
10 9 9 10 8
10
Early winter affected on 8
8 -10%
utilisation rates 6
-20%
Price level stable 4 -30%
Full-year EBIT improved thanks 2 -40%
to good cost control and 0
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
-50%
remained stable in Q4 2009 2010 2011 2012
Net sales EBIT-%
Denmark Q4 Q4 Change Change 1–12/ 1–12/ Change Change
2012 2011 (EUR) (Local) 2012 2011 (EUR) (Local)
Net sales, MEUR 12.2 14.6 −16% −16% 44.7 44.1 1% 1%
EBIT, MEUR 0.8 0.8 4% 1.6 0.1 N/A
EBIT–margin 6.7% 5.4% 3.6% 0.2%
Employees 192 186 3%
Outlets 19 22 −14%
Financial Statements 2012 22
Segment review

23. Europe East
Highlights Q4/2012 Sales and EBIT by quarter
In Russia and Ukraine, 20 19 19 17 40%
infrastructure construction was 17 16
15
30%
the main growth driver 15
12
13 13
12
20%
12
In the Baltic countries, especially 9
11
10 9
10%
in Estonia, growth was driven by 10
8
0%
-10%
large energy sector projects 5 -20%
EBIT improved based on good -30%
growth in net sales and improved 0 -40%
price levels Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
2009 2010 2011 2012
Decision on formation of joint Net sales EBIT-%
venture with Cramo in Russia and
Ukraine
Europe East Q4 Q4 Change Change 1–12/ 1–12/ Change Change
2012 2011 (EUR) (Local) 2012 2011 (EUR) (Local)
Net sales, MEUR 17.4 16.5 5% 3% 63.3 56.1 13% 11%
EBIT, MEUR 5.0 2.3 113% 10.9 5.9 86%
EBIT–margin 28.7% 14.2% 17.3% 10.5%
Employees 443 439 1%
Outlets 62 58 7%
Financial Statements 2012 23
Segment review

24. Europe Central
Highlights Q4/2012 Sales and EBIT by quarter
Demand weakened for rental 25 20%
22
equipment in all Europe 20 18
20 19 19 19
18
15%
Central countries
10%
16 16 16 16
14 15 5%
14
Fleet allocation and 15 13
12 0%
downsizing of operations 10
-5%
-10%
continued 5 -15%
EBIT was burdened by low -20%
volumes, high price pressure
0 -25%
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
and lower utilisation rates 2009 2010 2011 2012
Net sales EBIT-%
Europe Central Q4 Q4 Change Change 1–12/ 1–12/ Change Change
2012 2011 (EUR) (Local) 2012 2011 (EUR) (Local)
Net sales, MEUR 16.2 18.9 −14% −19% 62.7 73.9 −15% −14%
EBIT, MEUR 0.2 2.0 −91% −1.6 5.5 −128%
EBIT–margin 1.1% 10.8% −2.5% 7.4%
Employees 626 825 −24%
Outlets 80 122 −34%
Financial Statements 2012 24
Segment review

25. FINANCIAL
REVIEW
25

26. Good profitability and strong cash flow in 2012
Net Sales (MEUR) EBITDA (MEUR) EBIT (MEUR)
Net sales Y-o-y change-% EBITDA EBITDA-% EBIT EBIT-%
250 40% 70 35% 35 31 30 20%
59 60 28
194 30% 60 55 57 30% 30 25
200 187
179 186 52 23 15%
170
164 20% 25
150 150 50 42 42 25%
141 134 41 20 17 10%
150 122 130
125 126 129 10% 36 37 37 15
112 40 20% 14 12
0% 30 31 15 12 11
26 28 5%
100 30 15% 10 7 7
-10% 18
20 10% 5 3 0%
-20%
50
-30% 10 5% 0
-5%
0 -40% 0 0% -5
-4
Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4 Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4 -10 -6 -10%
2009 2010 2011 2012 2009 2010 2011 2012 Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4
2009 2010 2011 2012
Cash flow (MEUR) Net debt (MEUR) Gross Capex (MEUR)
Cash flow after investments Net debt Gearing-% Gross Capex Share of net sales-%
40 280 263 281
28 300 281 120% 140 80%
30 22 20 24 24 255 258 256 120
18 230 238 239 120 70%
16 17 250 100%
20 13 14 212
207 209
6 7 197 191 100 60%
10 200 177 80%
50%
0 80
150 60% 40%
-10 -4 60 45 46
-20 -11 100 40% 32 36 37 30%
-20
40
22 24 28 20%
-30 18
50 20% 20 13 10
-40 3 5 3 8 10%
-37 0 0% 0 0%
-50
Q1Q2 Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4 Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4
Q1Q2 Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4 2009 2010 2011 2012 2009 2010 2011 2012
2009 2010 2011 2012
Financial Statements 2012 26
Financial review

27. Net sales grew 3.9% in Q4/2012, full–year
net sales growth was 9.9%
Net sales grew 9.9% in 1-12/2012 (7.7% at %
Change in net sales YoY, comparable exchange
27%
24%
22%
19%19% 19%20%
16%
13% 14%
9%
3% 4% 4%
−4%
−9%
−25%
−27%
−31% −31%
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2 Q4
2008 2009 2010 2011 2012
At comparable exchange rates, net sales grew 0.5% in Q4/2012 and
7.7% for the full-year 2012
Financial Statements 2012 27
Financial review

28. Share of ancillary income increased clearly
Breakdown of net sales (%) and MEUR
100 % 6% 4% 250
80 % 29% 33% 200 7.6
11.8
60 % 150 53.2 63.7
40 % 100
65% 63%
121.8 122.8
20 % 50
0% 0
Q4/2011 Q4/2012 Q4/2011 Q4/2012
Income from sold equipment Income from sold equipment
Ancillary income Ancillary income
Rental income Rental income
Q4/2012 compared to Q4/2011:
• Rental income increased 0.8%
• Ancillary income increased 19.8%
• Income from sold equipment declined 35.3%
Financial Statements 2012 28
Financial review

29. Gross margin affected by sales mix
Gross margin (%) by quarter
71%
70%
69%
69%
68% 69%
68% 68% 68% 68%
67%
67% 67% 67%
66% 66%
66%
65%
65%
64%
Q1 Q2 Q3 Q4 FY
2009 2010 2011 2012
Financial Statements 2012 29
Financial review

30. Number of employees decreased in Europe
Central due to reorganisation
Number of employees by segment
825
677
630 626
596
572
486 467
439 443
186 192
Finland Sweden Norway Denmark Europe East Europe
Central
Personnel 31/12/11 Personnel 31/12/12
At the end of December 2012, the Group’s number of employees was
3,005 (3,184)
Financial Statements 2012 30
Financial review

31. Optimisation of customer centres continues,
358 customer centres at the end of 2012
Number of customer centres per segment
359 358
80
99
62
52
18 19
37 42
57 79
96 76
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
2008 2009 2010 2011 2012
Finland Sweden Norway Denmark Europe East Europe Central
Financial Statements 2012 31
Financial review

32. Stable fixed cost development
Fixed costs by quarter (MEUR)
70 68 68 69
66 65
62 63 62
57 57 56 56
52 54
52 28 25 26 27
25 25
24 27 25
23 23 22 23
22 19 22
41 42 42 40 42 42
35 38 37 37
30 33 33 33 33 32
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q42
2009 2010 2011 2012
Employee benefit expenses Other operating expenses
Group fixed costs 270 (260) MEUR in 1-12/2012
Financial Statements 2012 32
Financial review

33. EBIT-margin improved in the fourth quarter
compared to the previous year
EBIT-margin (%) by quarter
19.6%
18.2% 18.4%
17.0%
16.0%
13.6% 13.4% 14.2%
11.8%
10.8% 10.3%
9.0%
7.5% 7.5%
5.9% 5.8%
2.0%
−2.9%
−5.0%
−11.4%
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q32 Q43
2008 2009 2010 2011 2012
EBIT–margin January–December 2012: 12.9% (11.4%)
Financial Statements 2012 33
Financial review

34. Profitability improved in Q4 in all segments
expect Sweden and Central Europe
EBIT–margin (%) by segments
28.7%
22.2%
17.6%
15.9%
14.2% 14.6% 14.2%
13.6% 12.7%
10.7% 10.8%
6.7%
5.4%
1.1%
Group Finland Sweden Norway Denmark East Central
Q4/11 Q4/12
Q4/11 Q4/12
Financial Statements 2012 34
Financial review

35. Ramirent purchased less equipment in 2012
compared to previous year
Purchased and sold equipment by quarter (MEUR)
67
38
34 34
30
25
20 22
12
6 8 6 6 8
4 5
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
2011 2012
Purchased equipment Sold equipment
The total value of purchased equipment was 101.3 (169.2) million in 1-12/2012
The value of sold rental equipment was EUR 28.0 (27.0) million in 1-12/2012
Non-cancellable operational leases for rental equipment amounted to EUR 3.7
(12.3) million at end of 2012
Financial Statements 2012 35
Financial review

36. Capital expenditure lower level than in the
previous year
Capital Expenditure by segments (MEUR)
242
124
95
81
46
3426 34
9 2 1210 14 8
1–12/2011 1–12/2012
1–12/2011 1–12/2012
Lower level of acquitions as well as investments into machinery
Financial Statements 2012 36
Financial review

37. Working capital at 5% of net sales
Working capital by quarter (MEUR)
160 8%
120 6%
141
131
136
124
80 4%
120
114
109
97
95
99
90
88
90
83
80
86
40 2%
16 15 15 15 15 14 14 16 16 17 17 17 18 18 20 15
0 0%
-66
-67
-68
-69
-70
-40 -2%
-82
-84
-86
-86
-89
-107
-109
-112
-113
-122
-139
-80 -4%
-120 -6%
Q1 Q2 Q3 Q4 Q1 Q2 Q33Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q32 Q42
2009 2010 2011 2012
Trade payables and other liabilities
Trade and other receivables
Inventories
Working capital/Net sales Rolling 12 month basis
Q4/2012 credit losses and net change in the allowance for bad debt
totalled EUR −1.3 (−1.3) million
Financial Statements 2012 37
Financial review

38. Return on equity improved during 2012
Total equity (MEUR) and ROE (%) rolling 12
400 368 30%
350
350 316 326 322
305 308 25%
296
300
20%
250
200 15%
150
10%
100
5%
50
0 0%
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
2011 2012
Total equity ROE (R12)
Return on equity, ROE 18.3% 1-12/2012
Financial Statements 2012 38
Financial review

39. Invested capital and Return on investment
remained stable in 2012
Invested capital (MEUR) and ROI (%) by quarter
700 30%
588 591 605 608 608
600 568
536 25%
508
500
20%
400
15%
300
10%
200
100 5%
0 0%
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
2011 2012
Invested capital ROI (R12)
Return on invested capital, ROI 18.8% 1-12/2012
Financial Statements 2012 39
Financial review

40. Cash flow after investments increased to 54.2
MEUR in 1-12/2012
Cash flow after investments (MEUR)
66.5
25.2 27.8 22.4 24.2 23.7
17.9 19.5 15.9 16.8
13.4 14.4
6.4 7.3
−4.0
−10.7
−20.4
−29.9
−36.8
−54.8
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
2008 2009 2010 2011 2012
Cash flow after investments Rolling 12 months
Financial Statements 2012 40
Financial review

41. Net debt decreased during the second half of
the 2012
Net debt (MEUR) and Net debt to EBITDA ratio
300 2,5
250
2,0
200
1,5
150
1,0
100
0,5
50
0 0,0
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
2009 2010 2011 2012
Net debt Net debt to EBITDA ratio
Net debt to EBITDA 1.1x (1.4x) at the end of 2012
Financial Statements 2012 41
Financial review

42. At end of Q4/12, Ramirent had unused
committed back–up facilities of 150.9 MEUR
Repayment schedule of interest–bearing liabilities (MEUR)
390 MEUR in committed credit facilities
239.4 MEUR in net debt
240
150
2012 2013 2014 2015 2016 2017
In addition to bank facilities, Ramirent is utilising a domestic
commercial paper program of up to EUR 150 million
Financial Statements 2012 42
Financial review

43. RAMIRENT
AND CRAMO
JOINT
VENTURE
43

44. New strategy for our presence in Russia and
Ukraine through joint venture with Cramo
Combining Forces in Growing Markets… …Creates a Strong Stand–Alone Company
Rationale is to create
strong player with
increased financial
resources and excellent
organisational capabilities
to capture the growth
opportunities in target
markets.
“50/50 JV”
RUSSIA
Group Group
50% 50%
Key Facts
A stand-alone entity with new corporate
identity
UKRAINE 50/50 ownership for Cramo and Ramirent
2012E net sales and EBITDA margin of
€52 million and ~35%, respectively
400 employees
Depot locations: St. Petersburg region 7,
Moscow region 6, other regions Russia 3,
Ukraine 6 (+ 6 shop-in-shop outlets)
Financial Statements 2012 44
Ramirent and Cramo JV

45. For more information:
www.ramirent.com
Magnus Rosén, CEO
+358 20 750 2845
magnus.rosen@ramirent.com
Jonas Söderkvist, CFO
+358 20 750 3248
jonas.soderkvist@ramirent.com
Franciska Janzon, IR
+358 20 750 2859
franciska.janzon@ramirent.com

46. COMPANY
OVERVIEW
46

47. Ramirent in brief
Leading equipment rental company in Northern, Central
and Eastern Europe with net sales of EUR 714 million
(2012)
358 rental customer centers located in 13 countries and
providing 200 000 rental items
3,005 employees serving 100,000 customers
Founded in 1955 and headquartered in Finland
Listed on NASDAQ OMX Helsinki since 1998
Financial Statements 2012 47
C ompany overview

48. Ramirent operates in Europe with
Baltic Sea region being the core
market
Wide network of customer centres
Sales per segment 1-12/2012 and leading market position
E urope
C entral
9% Finland
E urope
E as t 23%
9%
D enmark
6% Finland
Norway 7 6 c us tomer
4 2 c us tomer c entres
c entres # 1
# 1
Europe
N orway Sweden Sweden East
24% 29% 7 9 c us tomer 6 2 c us tomer
c entres c entres
# 2 # 1
Denmark
Sales per customer 1-12/2012 1 9 c us tomer
c entres
# 1
P ublic
P rivate 4%
C ons truc- Europe
3%
tion Central
68% 8 0 c us tomer
c entres
I ndus trial # 1
15%
Target is to increase sales to non-construction
customers to 40% of the Group's net sales
Servic es
&Retail
10%
Financial Statements 2012 48
C ompany overview

49. We accelerate our growth through
acquisitions and outsourcing cases
2012
2011
2010
Outsourcing deal
in Finland Acquisition of
End of 2009 Finnish weather
protection rental
company
Acquisition of specialist
Outsourcing deal in module rental company in
Finland Norway
Acquisition of Outsourcing deal
Swedish rental in Norway
Outsourcing deal with two
subsidiaries in Finland
company
Some 50
companies
Acquisition of
Acquisition of
Danish rental
Danish
scaffolding
on our
Czech rental
business
business division Acquisition of
Swedish rental
watch list
company JV with Cramo
in Russia
Outsourcing deal
and Ukraine
in Norway Outsourcing deal
Acquisition of announced
in Denmark
Czech rental
Acquisition of Swedish business
rental company
Acquisition of
Aquisition of Swedish rental
Czech rental company
business
Financial Statements 2012 49
C ompany overview

50. 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
50
C ompany overview

51. How we simplify our customer's business
SOLUTIONS
• Total • Power
SERVICES Management • A ccess
• Planning & design • Fuel/gas ref illing • Eco solut ions • Climate
• Ramirent • Site logistics • Saf et y • Space
know-how coordinat or • Event
PRODUCTS
RA MIRENT OFFERING
• Transport at ion • Facilit y
• Lif ts • Modules • Installation management Benef it s:
• Heavy machinery • Saf et y and • Maint enance • Paperwork
Easy to buy, reduced number of
• Tower cranes f ormworks • Inspect ions f or authorit ies
subcontractors, increased focus
and hoist s • Light machinery • Insurance • Technical
on the core business
• Scaf f olding • Power and heat ing • Operators support
Benef it s: Benef it s:
Lighter balance sheets, More uptime in core operations OUTSOURCING
less investments due to less downtime in equipment, Benef it s:
less maintenance costs, right choice
By outsourcing your
of equipment improves efficiency,
machine fleet to Ramirent,
less product liability risk
companies can increase
efficiency and simplify their
INDUSTRIES business by focusing on
core competences
• Const ruct ion • Mining • Paper
• Power generat ion • Oil & gas
• Shipyards • Facility management
• Public sect or • Households
CUSTOMER NEEDS
Financial Statements 2012 51
C ompany overview

52. Our offering
Financial Statements 2012 52
C ompany overview

53. Our strategic and operational themes through
the business cycles
Market conditions
Weak Stable Strong
Weak market
conditions in Business
2009-2010 cycle
Increased demand
and investments Counter cyclical
2011-2012 cash flow
• Safe-guard profitability and • Realise synergies • Profitable growth
cash flow through operational
excellence
Strategic themes
• Consolidate market – • Consolidate market –
Outsourcing cases Bolt-on acquisitions
• Pricing discipline • Develop product, • Drive penetration and
• Execute contingency plans customer and market capture growth
• Reduce costs and transform portfolio opportunities
fixed costs to variable • Expand value offering • Keep control of fixed
Operational themes • Reduce financial risk, focus • Maintenance capex cost base
on A/R and credits • Prepare contingency
• Amortise debt plans
• Limited capex, transfer fleet • Growth capex for
to where demand is expansion
Financial Statements 2012 53
C ompany overview

54. Good organic and strategic growth opportunities
Organic growth drivers External growth drivers
Increasing rental penetration Increasing rental penetration
100%
70%
60%
80% Outsourcing Joint
45%
40%
40%
60%
deals Ventures
30%
30%
25%
20%
20%
15%
15%
15%
40%
10%
10%
10%
5%
20%
0% Bolt-on and selected strategic
acquisitions
Expansion to Eastern and Cental Europe Consolidation opportunities in Europe
Ramirent
Loxam
Cramo
Algeco Scotsman
Speedy Hire
Liebherr-Mietpartner
GAM
Inhabitants Mediaco Lifting
(million) Sarens
Kiloutou
Construction HKL Baumschinen
output (BEUR)
Others
Financial Statements 2012 54
C ompany overview

55. Summary of company’s strengths
Leading equipment rental Senat's square, Helsinki,
Finland
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: capex
and cost flexibility, strong
balance sheet
Strong financial position and
funding
Financial Statements 2012 55
C ompany overview

56. Largest shareholders
% of Market Cap EUR 673 million
Largest shareholders Number of
share
on December 31, 2012 shares Shareholders December 31, 2012
capital
1. Nordstjernan AB 31,882,078 29.33% 16%
35%
2. Oy Julius Tallberg Ab 11,962,229 11.01%
24%
3. Varma Mutual Pension Insurance Company 7,368,799 6.78% 2%
9% 14%
4. Odin funds 4,638,955 4.27%
5. Ilmarinen Mutual Pension Insurance Company 3,295,154 3.03% Private companies
Financial and insurance institutions
6. Nordea funds 2,664,173 2.45%
Public sector organizations
7. LocalTapiola Mutual Pension Insurance
Company 2,407,668 2.22% Households
Non-profit organizations
8. Aktia funds 2,072,640 1.91%
Foreigners
9. Veritas Pension Insurance Company Ltd 1,508,768 1.39%
10. Föreningen Konstsamfundet Rf 825,000 0.76%
Ramirent Oyj treasury shares 1,030,192 0.95%
Nominee registered 17,200,818 15.82%
Other shareholders 21,840,854 20.09%
Trading information
Total 108,697,328 100.00% Listing: NASDAX OMX Helsinki
Date of listing: April 30, 1998
Segment: Mid Cap
Sector: Industrials
Trading code: RMR1V
Financial Statements 2012 56
C ompany overview

57. Share price development
EUR Ramirent Plc (RMR1V)
14
12
10
8
EUR 7.43*
6
4
2
0
*February 8, 2013
Financial Statements 2012 57
C ompany overview

58. APPENDIX
Financial Statements 2012 58

59. Consolidated income statement
CONSOLIDATED INCOME STATEMENT 10–12/12 10–12/11 1–12/12 1–12/11
(EUR 1,000)
Rental income 122,777 121,795 463,070 430,848
Ancillary income 63,738 53,196 223,899 192,355
Sales of equipment 7,625 11,780 27,115 26,658
NET SALES 194,141 186,772 714,083 649,861
Other operating income 1,192 541 3,026 1,526
Materials and services −70,086 −62,820 −237,184 −209,357
Employee benefit expenses −41,809 −41,844 −166,550 −156,101
Other operating expenses −27,096 −27,736 −103,249 −104,214
Share of result in associates and joint ventures 116 74 116 74
Depreciation and amortisation −28,976 −29,494 −117,943 −107,659
EBIT 27,481 25,492 92,298 74,131
Financial income 1,965 2,430 20,320 11,405
Financial expenses −5,132 −5,174 −29,733 −24,776
EBT 24,314 22,749 82,885 60,760
Income taxes −4,525 −5,691 −19,257 −16,030
NET RESULT FOR THE PERIOD 19,788 17,058 63,628 44,730
Net result for the period attributable to:
Owners of the parent company 19,788 17,058 63,628 44,730
Non-controlling interest - - - -
TOTAL 19,788 17,058 63,628 44,730
Earnings per share (EPS)
EPS on parent company shareholders' share of profit, basic, EUR 0.18 0.16 0.59 0.41
EPS on parent company shareholders' share of profit, diluted,
EUR 0.18 0.16 0.59 0.41
Financial Statements 2012 59
Appendix

60. Balance sheet – Assets
CONSOLIDATED BALANCE SHEET 31/12/2012 31/12/2011
(EUR 1,000)
NON-CURRENT ASSETS
Property, plant and equipment 451,511 487,310
Goodwill 133,515 124,452
Other intangible assets 40,381 35,719
Investments in associates and Joint Ventures 1,125 953
Available-for-sale investments 412 415
Deferred tax assets 9,189 12,183
NON-CURRENT ASSETS, TOTAL 636,133 661,032
CURRENT ASSETS
Inventories 15,250 17,309
Trade and other receivables 135,600 120,000
Current income tax assets 145 344
Cash and cash equivalents 1,338 2,431
CURRENT ASSETS, TOTAL 152,333 140,084
Assets to be transferred to the Joint Venture 42,250 -
TOTAL ASSETS 830,716 801,117
Financial Statements 2012 60
Appendix

61. Balance sheet – Equity and liabilities
CONSOLIDATED BALANCE SHEET 31/12/2012 31/12/2011
(EUR 1,000)
EQUITY
Share capital 25,000 25,000
Revaluation fund −4,924 −4,192
Invested unrestricted equity fund 113,329 113,329
Retained earnings 234,267 191,862
PARENT COMPANY SHAREHOLDERS’ EQUITY 367,672 326,000
Non-controlling interests - -
EQUITY, TOTAL 367,672 326,000
NON-CURRENT LIABILITIES
Deferred tax liabilities 73,333 73,690
Pension obligations 8,693 7,226
Provisions 972 1,553
Interest-bearing liabilities 191,199 219,773
Other long-term liabilities 8,071 11,748
NON-CURRENT LIABILITIES, TOTAL 282,268 313,990
CURRENT LIABILITIES
Trade payables and other liabilities 112,956 109,020
Provisions 826 1,163
Current income tax liabilities 10,936 5,496
Interest-bearing liabilities 49,513 45,448
CURRENT LIABILITIES, TOTAL 174,231 161,127
Liabilities to be transferred to the Joint Venture 6,545 -
LIABILITIES, TOTAL 463,044 475,117
TOTAL EQUITY AND LIABILITIES 830,716 801,117
Financial Statements 2012 61
Appendix