Rr results q2_2013_en_final

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

Agenda
Highlights Q2 and 1-6/2013
Market outlook
Segment review
Financial review
Company overview
Appendix
2
Agenda

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 its
Hungarian operation
Highlights: Q2/2013

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

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
179.2
186.8
164.3
169.7
185.9
194.1
152.8
160.8
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

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

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

After the review period, Ramirent
sold 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 MEUR
Personnel: 83
Customer centres: 13
*Forecast for 2013
Ramirent Europe Central
Highlights Q2/2013
8

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

MARKET
OUTLOOK
10
Flow Festival,
Helsinki,
Finland
Flow Festival,
Helsinki,
Finland

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

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
92
91
70
80
90
100
110
120
130
2008 2009 2010 2011 2012 2013F 2014F
Finland Sweden Norway Denmark Europe Central

Non–residential construction forecasted to
remain stable
13
Non–residential construction (output) 2008 – 2014F
78
91
105
67
97
60
70
80
90
100
110
120
2008 2009 2010 2011 2012 2013F 2014F
Source: Euroconstruct June 2013 Forecasts for Europe East countries not available
Market outlook

Renovation markets expected to continue to
grow steadily
14
Renovation in construction sector (output) 2008 – 2014F
109
103
121
107
116
70
80
90
100
110
120
130
2008 2009 2010 2011 2012 2013F 2014F
Source: Euroconstruct June 2013 Forecasts for Europe East countries not available
Market outlook

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
Q1
2007
Q2 Q3 Q4 Q1
2008
Q2 Q3 Q4 Q1
2009
Q2 Q3 Q4 Q1
2010
Q2 Q3 Q4 Q1
2011
Q2 Q3 Q4 Q1
2012
Q2 Q3 Q4 Q1
2013
Q2
Order books: Nordic construction companies
BEUR fixed exchange rates
Skanska YIT
SRV Change in Net sales YoY, R12 Ramirent
Change in order backlog YoY, Nordic construction

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

SEGMENT
REVIEW
17
Riga European
Capital of Culture 2014,
Latvia
Riga European
Capital of Culture 2014,
Latvia

28
36 38
35
30
37
45
42
38
41
45
42
35 36
-5%
0%
5%
10%
15%
20%
25%
30%
0
5
10
15
20
25
30
35
40
45
50
Q1
2010
Q2 Q3 Q4 Q1
2011
Q2 Q3 Q4 Q1
2012
Q2 Q3 Q4 Q1
2013
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

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
29
35 36
45
41 42
45
54
48
51 53
58
50
53
0%
5%
10%
15%
20%
25%
0
10
20
30
40
50
60
70
Q1
2010
Q2 Q3 Q4 Q1
2011
Q2 Q3 Q4 Q1
2012
Q2 Q3 Q4 Q1
2013
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%

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 28
31 33 30
40 42 44
38
41
51
38 39
-5%
0%
5%
10%
15%
20%
0
10
20
30
40
50
60
Q1
2010
Q2 Q3 Q4 Q1
2011
Q2 Q3 Q4 Q1
2012
Q2 Q3 Q4 Q1
2013
Q2
Net sales EBIT-%
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 −

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
8
9 9 10
8
10
11
15
10
11 11
12
9
11
-20%
-15%
-10%
-5%
0%
5%
10%
0
2
4
6
8
10
12
14
16
Q1
2010
Q2 Q3 Q4 Q1
2011
Q2 Q3 Q4 Q1
2012
Q2 Q3 Q4 Q1
2013
Q2
Net sales EBIT-%
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%

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’s
business operations is
proceeding according to plan
8
10
12
13
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
Q1
2010
Q2 Q3 Q4 Q1
2011
Q2 Q3 Q4 Q1
2012
Q2 Q3 Q4 Q1
2013
Q2
Net sales EBIT-%
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% 11.0
2)
1.5 613%
EBIT–margin 0.3% 10.8% 63.7%
2)
5.7%
Personnel 209 433 −52% 209 433 −52%

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
13
15
18
16
11
14
-50%
-40%
-30%
-20%
-10%
0%
10%
20%
0
5
10
15
20
25
Q1
2010
Q2 Q3 Q4 Q1
2011
Q2 Q3 Q4 Q1
2012
Q2 Q3 Q4 Q1
2013
Q2
Net sales EBIT-%
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% −4.9
1)
−2.1 n/a
EBIT–margin 2.1% 0.9% −19.6%
1)
−7.3%
Personnel 589 676 −13% 589 676 −13%

FINANCIAL
REVIEW
24
Tall Ships Race,
Helsinki,
Finland
Tall Ships Race,
Helsinki,
Finland

Stable profitability and strong financial position
25
Net Sales (MEUR) EBITDA (MEUR)
Cash flow (MEUR) Net debt (MEUR) Gross Capex (MEUR)
EBITA (MEUR)
13
22
10
18
32
45
120
46
36
24 28
37 32 30
0%
10%
20%
30%
40%
50%
60%
70%
80%
0
20
40
60
80
100
120
140
Q1
2010
Q2Q3Q4Q1
2011
Q2Q3Q4Q1
2012
Q2Q3Q4Q1
2013
Q2
Gross Capex Share of net sales-%
212209
197
177
191
238
280
263258
281
256
239
220
264
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
0
50
100
150
200
250
300
Q1
2010
Q2 Q3 Q4 Q1
2011
Q2 Q3 Q4 Q1
2012
Q2 Q3 Q4 Q1
2013
Q2
Net debt Gearing-%
-5
8
17
13
4
17
32
27
14
25
32
30
23 23
-10%
-5%
0%
5%
10%
15%
20%
-10
-5
0
5
10
15
20
25
30
35
Q1
2010
Q2Q3Q4Q1
2011
Q2Q3Q4Q1
2012
Q2Q3Q4Q1
2013
Q2
EBITA EBITA-%
18
31
42
37
28
41
59
55
42
52
60
57
48 49
0%
5%
10%
15%
20%
25%
30%
35%
0
10
20
30
40
50
60
70
Q1
2010
Q2Q3Q4Q1
2011
Q2Q3Q4Q1
2012
Q2Q3Q4Q1
2013
Q2
EBITDA EBITDA-%
112
129
141150
134
150
179187
164170
186194
153161
-15%
-10%
-5%
0%
5%
10%
15%
20%
25%
30%
0
50
100
150
200
250
Q1
2010
Q2Q3Q4Q1
2011
Q2Q3Q4Q1
2012
Q2Q3Q4Q1
2013
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
Q1
2010
Q2 Q3 Q4 Q1
2011
Q2 Q3 Q4 Q1
2012
Q2 Q3 Q4 Q1
2013
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

Net sales decreased by 5.3% in Q2/2013,
comparable net sales decreased by 0.7%
26
112
129
141
150
134
150
179
187
164
170
186
194
153
161
0
20
40
60
80
100
120
140
160
180
200
220
Q1
2010
Q2 Q3 Q4 Q1
2011
Q2 Q3 Q4 Q1
2012
Q2 Q3 Q4 Q1
2013
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

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 Europe
Central
Q2/2012 Q2/2013

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
51.8
48.7
6.3 7.6
0
50
100
150
200
Q2/2012 Q2/2013
Income from sold equipment
Ancillary income
Rental income
Financial review

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

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
626
588
702
472
186
209
589
Finland Sweden Norway Denmark Europe East Europe
Central
Personnel 30/6/12 Personnel 31/12/12 Personnel 30/6/13
Financial review

Customer centres were reduced in Sweden,
Denmark and Europe Central segment
334 325
Q1
2010
Q2 Q3 Q4 Q1
2011
Q2 Q3 Q4 Q1
2012
Q2 Q3 Q4 Q1
2013
Q2
Finland Sweden Norway Denmark Europe East Europe Central
Number of customer centres per segment
31
Financial review
353

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 32
38 37 37
41 42 42 40 42 42 42 39
22 23 22
24 27 25
25
28 25
25
26 27 24
22
56 56
54
62 63 62
66
70 68
65
68 69
66
62
Q1
2010
Q2 Q3 Q4 Q1
2011
Q2 Q3 Q4 Q1
2012
Q2 Q3 Q4 Q1
2013
Q2
Employee benefit expenses Other operating expenses

Profitability remained stable in the second
quarter 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
Q1
2010
Q2 Q3 Q4 Q1
2011
Q2 Q3 Q4 Q1
2012
Q2 Q3 Q4 Q1
2013
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 net
sales
Financial review

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
6.8
4.6
7.8 0.0
9.6 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 23.4
30.1
25.9
-0.2 11.4
0.6 0.0
1.7
3.5
0
5
10
15
20
25
30
35
Group (exc. Russia and Ukraine) Russia and Ukraine Fortrent
−0.2 (Fortrent)
−0.8 (Fortrent)

January-June 2013 included EUR 7.2 million
of 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
35.1
39.0
10.1
2.9
31.7
0
5
10
15
20
25
30
35
40
45
1-6/2012
reported
1-6/2013
reported
Capital gain Goodwill
impairment
1-6/2013
adjusted
Financial review

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

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 22
25
34
29 28
5 4 3 4 4 5 6
12
8 6 6 8
4
8
Q1
2010
Q2 Q3 Q4 Q1
2011
Q2 Q3 Q4 Q1
2012
Q2 Q3 Q4 Q1
2013
Q2
Purchased equipment Sold equipment

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
2.2
2.8
1.1
Finland Sweden Norway Denmark East Central
4–6/2012 4–6/2013
Capital Expenditure by segments (MEUR)
Financial review

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
Q1
2010
Q2 Q3 Q4 Q1
2011
Q2 Q3 Q4 Q1
2012
Q2 Q3 Q4 Q1
2013
Q2
Trade payables and other liabilities
Trade and other receivables
Inventories
Working capital/Net sales Rolling 12 month basis
Working capital by quarter (MEUR)
Financial review

Return on investment remained stable in the
second quarter
40
Invested capital (MEUR) and ROI (%) rolling 12 months
524 508 509 496 508
536
588 591
565
602 605 604
654
611
0%
5%
10%
15%
20%
25%
0
100
200
300
400
500
600
700
Q1
2010
Q2 Q3 Q4 Q1
2011
Q2 Q3 Q4 Q1
2012
Q2 Q3 Q4 Q1
2013
Q2
Invested capital ROI % (R12)
Return on invested capital, ROI 19.2% (19.0%) at the end of June
2013
Financial review

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
23.7
16.8 19.0
−5.2
Q1
2010
Q2 Q3 Q4 Q1
2011
Q2 Q3 Q4 Q1
2012
Q2 Q3 Q4 Q1
2013
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

212 209
197
177
191
238
280
263 258
281
256
239
220
264
1.8x
1.9x
1.7x
1.4x 1.4x
1.6x
1.7x
1.4x
1.2x
1.4x
1.2x
1.1x
1.0x
1.2x
0
1
2
3
0
50
100
150
200
250
300
Q1
2010
Q2 Q3 Q4 Q1
2011
Q2 Q3 Q4 Q1
2012
Q2 Q3 Q4 Q1
2013
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

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

Return on equity remained above the long-term
financial target
44
309
296 308 318 316
296 305
326
305
319
347
364
342 344
-5%
0%
5%
10%
15%
20%
25%
0
50
100
150
200
250
300
350
400
Q1
2010
Q2 Q3 Q4 Q1
2011
Q2 Q3 Q4 Q1
2012
Q2 Q3 Q4 Q1
2013
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

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

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

Ramirent operates in Europe with
Baltic Sea region being the core
market
48
Sales per segment 1-6/2013
Wide network of customer centres
and leading market position (Q2/13)
Finland
23%
Sweden
32%
Norway
25%
Denmark
6%
Europe
East
6%
Europe
Central
8%
Sales per customer 1-12/2012
Construc-
tion
68%
Services
&Retail
10%
Industrial
15%
Private
3%
Public
4%
Target is to increase sales to non-construction
customers to 40% of the Group's net sales
Finland
76 customer
centres
# 1
Europe
East
41 customer
centres
# 1
Norway
43 customer
centres
# 1
Denmark
16 customer
centres
# 1
Europe
Central
73 customer
centres
# 1
Sweden
76 customer
centres
# 2
Company overview
Fortrent,
presence
through JV

Targeting a wider range of customer
industries in all countries
Shipyards
Construction
HouseholdsAviationPower
Oil and gas
Public
Windpower
49© 2013 Ramirent

End of 2009
We accelerate our growth through
acquisitions and outsourcing cases
50
Outsourcing deal
in Denmark
Outsourcing deal
in Finland Acquisition of
Finnish weather
protection rental
company
Outsourcing deal with two
subsidiaries 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 of
Swedish rental
company
Acquisition of
Danish rental
business
Acquisition of specialist
module rental company in
Norway
Danish
scaffolding
division
Acquisition of
Swedish rental
company
Acquisition of
Swedish rental
company
2010
2011
2012
Outsourcing deal
in Norway
Fortrent
(JV with Cramo
in Russia
and Ukraine)
2013
Company overview

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

Broadest range of equipment and
Dynamic Rental SolutionsTM
52
RAMIRENTOFFERING
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 equipment
improves efficiency,
less product liability risk
Benefits:
Easy to buy, reduced number of
subcontractors, increased focus
on 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

Our offering
53
Company overview

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

Weak Stable Strong
Strategic themes
Customer First
Sustainable profitable growth
Operational Excellence
Balanced 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 fixed
cost base
• Prepare contingency
plans
• Growth capex for
expansion
Business
cycle
Business
cycle
Counter cyclical
cash flow
Counter cyclical
cash 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

56
Organic growth drivers
70%
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
Ramirent
Loxam
Cramo
Algeco Scotsman
Speedy Hire
Liebherr-Mietpartner
GAM
Mediaco Lifting
Sarens
Kiloutou
HKL Baumschinen
Others
Consolidation opportunities in Europe
External growth drivers
M&A activity
Outsourcing
deals
Bolt-on and selected strategic
acquisitions
Joint
Ventures
Good organic and strategic growth opportunities
Construc-
tion
68%
Services
&Retail
10%
Industrial
15%
Private
3%Public
4%
Targeting 40% of
Group sales to
non-construction
customers
Company overview

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: capex
and cost flexibility, strong
balance sheet
Strong financial position and
funding
Company overview
57

Largest shareholders
Largest shareholders
June 30, 2013
Number of
shares
% of
share
capital
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 information
Listing: NASDAX OMX Helsinki
Date of listing: April 30, 1998
Segment: Mid Cap
Sector: 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

59
EUR
Ramirent 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

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

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

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

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
**The figures are calculated on a rolling twelve month basis.

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

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
- Inter-segment sales − 1.2 0.3 1.2 2.4
NORWAY
- Inter-segment sales − − − 0.1 0.5
DENMARK
- Inter-segment sales − − − − 0.1
EUROPE EAST
- Inter-segment sales − − − 0.2 0.3
EUROPE CENTRAL
- 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

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 %

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

Rr results q2_2013_en_final

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