1. INTERIM REPORT
Q3/2013
November 8, 2013
CEO Magnus Rosén
CFO Jonas Söderkvist

2. Agenda
Highlights Q3 and 1-9/2013
Market outlook
Segment review
Financial review
Company overview
Appendix
2

3. Highlights Q3/2013
Net sales MEUR 166.2 (185.9)
down by 10.6% (down by 8.7% at
comparable exchange rates)
Adjusted for transferred or divested
operations, net sales decreased by
3.3% at comparable exchange rates
EBITA MEUR 25.9 (31.8) or 15.6%
(17.1%) of net sales
EBITA excluding non-recurring items1)
EUR 29.3 (31.8) million or 17.6%
(17.1%) of net sales
Cash flow after investments MEUR
34.4 (23.7)
Gross capex MEUR 29.5 (27.6)
1) Non-recurring items included EUR 1.9
million loss from disposal of Hungary
and EUR 1.5 million restructuring
provision in Denmark.
3

4. Highlights 1-9/2013
Net sales MEUR 479.8 (519.9) down by
7.7% (down by 7.8% at comparable
exchange rates)
Adjusted for transferred or divested
operations, net sales decreased by 4.0% at
comparable exchange rates
EBITA MEUR 71.2 (70.9) or 14.8%
(13.6%) of net sales
EBITA excluding non-recurring items1) was
MEUR 64.4 (70.9) or 13.4% (13.6%)
Net result MEUR 40.1 (43.8) and EPS EUR
0.37 (0.41)
Gross capex MEUR 91.9 (87.2)
Cash flow after investments MEUR 48.2
(37.3)
Net debt to EBITDA ratio 1.1x (1.2x)
1) Non-recurring items included a non-taxable capital gain of
MEUR 10.1 from the formation of Fortrent, the loss of MEUR
1.9 from disposal of Hungary and the restructuring provision
of MEUR 1.5 in Denmark.
4

5. Net sales declined by 3.3% in Q3, adjusted
for currency rates and divested operations
Change in net sales (%) Q3/12 vs. Q3/13
0%
0%
-3.3%
-2%
-8.7%
-10.6%
-4.0%
-3%
-4%
-7.7%
-7.8%
-5%
-8%
-6%
-7%
-10%
-12%
-1%
-2%
-4%
-6%
Change in net sales (%) 1-9/12 vs. 1-9/13
-8%
Q3/2013
reported
Q3/2013
Q3/2013 at
adjusted for
comparable
currency rates the transfer of
operations in
Russia, Ukraine
and Hungary,
at comparable
currency rates
-9%
1-9/2013
reported
1-9/2013
1-9/2013 at
comparable adjusted for the
transfer of
currency rates
operations in
Russia, Ukraine
and Hungary, at
comparable
currency rates
5

6. EBITA margin excluding non-recurring items
improved to 17.6% in the third quarter
EBITA margin (%) Q3/12 vs. Q3/13
20%
EBITA margin (%) 1-9/12 vs. 1-9/13
16%
18%
14%
16%
12%
14%
12%
10%
10%
8%
8%
17.1%
15.6%
17.6%
6%
14.8%
13.4%
4%
4%
2%
2%
0%
6%
13.6%
Q3/2012
reported
Q3/2013
reported
Q3/2013
excluding
non-recurring
items 1)
0%
1-9/2012
reported
1-9/2013
reported
1-9/2013
excluding
non-recurring
items 2)
1) The non-recurring items include EUR 1.9 million loss from disposal of Hungary and EUR 1.5 million restructuring
provision in Denmark
2) The non-recurring items include a non-taxable capital gain of EUR 10.1 million from the formation of Fortrent, the
EUR 1.9 million loss from disposal of Hungary and the EUR 1.5 million restructuring provision in Denmark
6

7. Strong cash flow generation, whilst renewing
fleet
Cash flow after investments (MEUR)
Q3/12 vs. Q3/13
Cash flow after investments (MEUR)
1-9/12 vs. 1-9/13
60
60
50
50
40
40
30
30
48.2
20
10
0
34.4
23.7
Q3/2012 reported
20
37.3
10
Q3/2013 reported
0
1-9/2012 reported
1-9/2013 reported
7

8. Financial position strengthened further
during the third quarter
Element
Measure
Target level
1–9/2013
Profit
generation
ROE
18% p.a. over a
business cycle
16.9%
Leverage
and risk
Net Debt /
EBITDA
ratio
Below 1.6x at
the end of each
fiscal year
1.1x
Dividend
Dividend
pay-out
ratio
At least 40% of
Net profit
57.6%* of
2012
net profit
*Paid for 2012
8

9. MARKET
OUTLOOK
Merihaka, Helsinki
Finland
9

10. Construction output outlook turning positive in
our main markets
Country
2013E
2014E
Source
Finland
−3.0%
−1.0%
Confederation of Finnish Construction
Industries
Sweden
−1.0%
2.0%
Swedish Construction Federation
Norway
3.9%
3.7%
Prognosesenteret
−0.8%
2.9%
Danish Construction Industry
Poland
−5.6%
0.6%
Euroconstruct
Czech Republic
−6.1%
−2.2%
Euroconstruct
Slovakia
−2.0%
2.9%
Euroconstruct
3.0%
4.0%
Euroconstruct
−2.0%
−1.0%
Euroconstruct
Latvia
7.0%
−1.0%
Euroconstruct
Lithuania
4.0%
0.0%
Euroconstruct
n/a
n/a
n/a
Nordic countries
Denmark
Europe Central
Europe East
Russia
Estonia
Ukraine
Source: Actual figures for 2012 from Euroconstruct June 2013 report
Forecasts for 2013-2014 based on Euroconstruct June 2013 and local construction
federations forecasts in October and November 2013
10

11. Main rental markets expected to grow in 2014
Country
2013E
2014E
Source
Finland
−5.5%
3.5%
ERA
Sweden
2.3%
2.3%
ERA
Norway
4.1%
3.6%
ERA
−0.9%
1.9%
ERA
−17.2%
3.6%
ERA
Nordic countries
Denmark
Europe Central
Poland
Source: European Rental Association, The European Equipment Rental Industry Report October 2013
11

12. Renovation continues to grow steadily in all
Nordic countries
Growth by construction sector in Nordic countries (%) 2013E
12%
10%
10.2%
8%
6%
4.0%
4%
2%
0%
-2%
-4%
-6%
2.5%
2.0%
3.0%
2.3%
1.0%
New residential
construction
New nonresidential
construction
2.4%
-3.7%
-4.0%
Renovation
-8%
-10%
-12%
-10.0%
-20.7%
Finland
Sweden
Norway
Denmark
Sources: Confederation of Finnish Construction Industries 10/2013, Swedish Construction
Federation 10/2013 (renovation forecast is from Euroconstruct 6/2013 report), Prognosesenteret
10/2013 and Danish Construction Industry 11/2013
12

13. Nordic construction order books
increased by 1% compared with the previous
year
Order books: Nordic construction companies
BEUR fixed exchange rates
60%
16
14
40%
12
10
20%
8
0%
6
4
-20%
2
0
Q1 Q2
2007
Q3
Q4
Q1 Q2
2008
Q3
Q4
Q1 Q2
2009
Q3
Q4
Q1 Q2
2010
Q3
Q4
Q1 Q2
2011
Q3
Q4 Q1 Q2 Q3
2012
Q4 Q1 Q2
2013
Q3
-40%
Skanska
NCC
Veidekke
YIT
Lemminkäinen
SRV
Change in Net sales YoY, R12 Ramirent
Change in order backlog YoY, Nordic construction
A increase of 1.3% in Q3/13 vs. Q3/12 in construction companies order
books
13

14. Ramirent outlook for 2013 unchanged
Ramirent's 2013 EBITA is expected
to be slightly below the 2012 level.
14

15. SEGMENT
REVIEW
15

16. Finland
Highlights Q3/2013
Sales and EBIT by quarter
Demand steady in Southern and
Central Finland
Market activity weakened in
Northern and Western Finland
Strong EBIT margin due to
strict cost control
Ramirent defended price levels
in tough pricing environment
Capacity utilisation on a healthy
level
Finland
Net sales, MEUR
Q3
2013
Q3
2012
50
45
40
35
30
25
20
15
10
5
0
45
36 38 35
28
38
37
42
35 36
25%
20%
10%
5%
0%
-5%
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3
2010
2011
2012
2013
Net sales
Change Change
(EUR) (Local)
EBIT-%
1–9/
2013
1–9/ Change Change
2012
(EUR) (Local)
124.8
−7%
113.3
9.9
10.9
−9%
18.8
23.8%
24.2%
Capital
expenditure
7.4
6.0
Personnel
533
74
Customer centres
30%
42
15%
45.0
EBIT–margin
41
30
41.8
EBIT, MEUR
45
42
−9%
22.9 −18%
16.6%
18.4%
23%
21.9
14.9
48%
577
−8%
533
577
−8%
77
−4%
74
77
−4%
16

17. Sweden
Highlights Q3/2013
Sales and EBIT by quarter
Good activity in construction
supported the demand in capital
city region
Lack of big construction projects
kept market activity low in
Southern Sweden
Favourable demand in the
industrial sector in Northern
Sweden
Ramirent continued strict price
discipline
Sweden
Net sales, MEUR
Q3
2013
Q3
2012
70
25%
60
54
45
50
41 42
45
53 51
20%
29
30
10%
20
5%
10
0
0%
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3
2010
2011
2012
2013
Net sales
Change Change
(EUR) (Local)
EBIT-%
1–9/ Change Change
2012
(EUR) (Local)
154.5
152.1
2%
23.5
23.8
−1%
15.2%
−1%
1–9/
2013
15.7%
−4%
7.9
8.7
−9%
15.5%
16.4%
Capital
expenditure
7.6
6.1
26%
26.8
Personnel
652
680
−4%
652
75
84
−11%
75
Customer centres
50
15%
53.0
EBIT–margin
51 53
35 36
40
51.1
EBIT, MEUR
48
58
0%
39.0 −31%
680
−4%
84 −11%
17

18. Norway
Highlights Q3/2013
Sales and EBIT by quarter
Net sales affected by greater
margin focus and lower income
from sales of used equipment
Demand for equipment rental at
good level except for Southern
Norway
Profitability improved due to
better operational efficiency,
healthy capacity utilisation and
good cost control
Price levels remained steady
Norway
Net sales, MEUR
Q3
2013
Q3
2012
60
20%
51
50
44
41
40 42
38
40
28 27 28
30
15%
38 39 36
31 33 30
10%
5%
20
0%
10
-5%
0
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3
2010
2011
2012
2013
Net sales
EBIT-%
Change Change
(EUR) (Local)
1–9/
2013
1–9/ Change Change
2012
(EUR) (Local)
112.8
123.0
−8%
17.4
15.7
11%
15.5%
12.8%
35.9
41.1
−13%
5.7
6.4
−10%
16.0%
15.6%
Capital
expenditure
8.4
11.7
−28%
25.4
19.7
29%
Personnel
478
465
3%
478
465
3%
43
43
43
43
EBIT, MEUR
EBIT–margin
Customer centres
−
−6%
−7%
−
18

19. Denmark
Highlights Q3/2013
Sales and EBIT by quarter
Demand for equipment rental
improved slightly due to a gradual
improvement in construction
activity
EBIT includes MEUR 1.5 of
restructuring costs from actions to
reduce the fixed cost level and
enhance the operational efficiency
EBIT-margin exc. restructuring
costs was −4.8%
16
14
10
Net sales, MEUR
Q3
2013
Q3
2012
8
9
10
9 10 8
10
-5%
-10%
-15%
0
-20%
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3
2010
2011
2012
2013
Change Change
(EUR) (Local)
0.8
n/a
1)
6.8%
Capital expenditure
1.3
0.6
Personnel
194
16
Customer centres
5%
0%
9
2
1)
−17.4%
12
4
4%
EBIT–margin
11
6
11.4
−2.1
12
8
11.9
EBIT, MEUR
11 11
11
12
Net sales
Denmark
10%
15
4%
1–9/
2013
EBIT-%
1–9/
2012
Change
(EUR)
32.1
32.4
−1%
1)
0.8
n/a
1)
2.4%
122%
4.7
1.3
250%
181
7%
194
181
7%
21
−24%
16
21
Change
(Local)
−24%
−3.6
−11.1%
1) EBIT excluding non-recurring items was EUR −0.6 (0.8) million or −4.8% (6.8%) of net
sales in July–September 2013 and −2.1 (0.8) million or −6.5% (2.4%) of net sales in
January–September 2013.
−1%
19

20. Europe East
Highlights Q3/2013
Sales and EBIT by quarter
Demand for equipment rental
remained at good level in the
Baltics
EBIT margin strengthened due
to improved capacity utilisation
in the Baltics
Fixed costs under control and
price levels steady
Fortrent: profitability improved
in Russian operations
Europe East
Q3
2013
Q3
2012
Net sales, MEUR
9.8
EBIT, MEUR
3.5
4.4
35.3%
2.5
2.6
Personnel
211
41
EBIT–margin
Customer centres
19 17
17 16
113%
15
12
13
10
13
12
10
10
9
8
8
60%
50%
40%
30%
20%
10%
0%
-10%
-20%
-30%
-40%
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3
2010
2011
2012
2013
Net sales
Change Change
(EUR) (Local)
1)
23.4%
Capital
expenditure
20
18
16
14
12
10
8
6
4
2
0
18.8 −48%
−48%
1–9/
2013
27.1
EBIT-%
1–9/ Change Change
2012
(EUR) (Local)
45.9−41%
1)
14.5
2)
53.4%
2)
12.9%
−3%
6.9
7.2
441
−52%
211
441 −52%
62
−34%
41
−41%
62 −34%
−21%
5.9 143%
−4%
1) Adjusted for the transfer of the operations in Russia and Ukraine to Fortrent Q3/2013 net sales increased by 7.0%.
In January−September 2013 the increase was 3.5%.
2) January−September 2013 EBIT excluding the capital gain of EUR 10.1 million was EUR 4.5 (5.9) million or 16.1% 20
(12.9%) of net sales.

21. Europe Central
Highlights Q3/2013
Sales and EBIT by quarter
Weak demand continued in all
Europe Central countries
In Poland, market activity in the
industrial sector recovered slightly
Profitability improved primarily due
to improved capacity utilisation
Scaling down of operations
supported profitability
Prices still at low level
Divestment of Hungarian operations
completed in Q3
Europe Central
Q3
2013
Net sales, MEUR
16.9
1)
17.9
1.2
3)
0.4
7.1%
3)
2.5
1.6
Personnel
491
57
EBIT, MEUR
EBIT–margin
Customer centres
Q3
2012
20 19
16
15
20%
22
20
19
19
18
15
14
10%
17
16
14
13
12
0%
-10%
11
-20%
10
-30%
5
-40%
-50%
0
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3
2010
2011
2012
2013
Net sales
2.0%
Capital
expenditure
25
Change Change
(EUR) (Local)
1–9/
2012
Change
(EUR)
42.0
1)
46.4 −10%
−3.7
2)
−1.7
−8.9%
2)
54%
4.9
5.0
657
−25%
491
657 −25%
88
−35%
57
Change
(Local)
−3.7%
88 −35%
−6%
1)
1–9/
2013
EBIT-%
233%
−4%
1)
−9%
n/a
−3%
1) Adjusted for the divestment of Hungary the sales decrease in July−September was 1.6%. In January−September 2013, the decrease was 8.1%.
2) January−September 2013 EBIT excluding EUR 2.9 million impairment loss in the Hungarian goodwill and EUR 1.9 million loss from disposal of Hungary was
EUR 1.0 (−1.7) million, representing 2.4% (−3.7%) of net sales.
3) Third-quarter EBIT excluding the EUR 1.9 million loss from disposal of Hungary was EUR 3.1 (0.4) million or 18.2% (2.0%) of net sales.
21

22. FINANCIAL
REVIEW
22

23. Strong cash flow and financial position in Q3
Net Sales (MEUR)
Net sales
EBITDA (MEUR)
EBITDA
Y-o-y change-%
30%
250
25%
194
186
179187
20%
164170
161166
153
150 150
15%
141 134
150
129
10%
112
200
5%
100
0%
-5%
50
35%
59
60
50
42
31
30
20
16
6
10
52
42
-20
-30
-40
-4
25%
18
17 19
7
-5
-11
150
50
-37
-50
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3
2010
2011
2012
2013
0
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3
2010
2011
2012
2013
5%
0%
0
-5%
-5
-10
15%
10%
14
4
-5
-10%
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3
2010
2011
2012
2013
Gross Capex (MEUR)
Gearing-%
281
280
263258 256
264
239
238
230
250
220
212209
197
191
200
177
23 23
8
5
0%
300
17
13
10
5%
100
-20
17
15
10%
26
25
20
20%
30
25
15%
28
0
-10
30%
20%
Net debt
13 14
48 49
32
27
30
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3
2010
2011
2012
2013
34
20
52
57
EBITA-%
32
35
Net debt (MEUR)
40
24
55
0
Cash flow after
investments (MEUR)
24
60
10
-15%
41
37
40
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3
2010
2011
2012
2013
30
EBITA
EBITDA-%
70
-10%
0
EBITA (MEUR)
Gross Capex
100%
90%
80%
70%
60%
50%
40%
30%
20%
10%
0%
Share of net sales-%
140
80%
120
120
70%
100
60%
50%
80
40%
60
45
32
40
20
22
13
18
46
36
37
24 28
30%
32 30 30
10
0
20%
10%
0%
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3
2010
2011
2012
2013
First-quarter EBITA excluding non-recurring items was EUR 12.4 (14.4) million, representing 8.1% (8.7%) of net sales
23
Third-quarter EBITA excluding non-recurring items was 29.3 (31.8) million or 17.6% (17.1%) of net sales

24. Net sales amounted to 166 MEUR in the third
quarter
Quarterly net sales Q1/2010 – Q3/2013 (MEUR)
Net sales (MEUR) Q1/2010 – Q3/2013
220
200
179
180
186
164
160
141
140
120
187
150
194
170
153
150
161
166
134
129
112
100
80
60
40
20
0
Q1
2010
Q2
Q3
Q4
1-12/2010: 531.3
Q1
2011
Q2
Q3
Q4
1-12/2011: 649.9
Q1
2012
Q2
Q3
Q4
1-12/2012: 714.1
Q1
2013
Q2
Q3
R12: 673.9
24

25. Net sales affected by currency rates and
divested operations
Net sales (MEUR) Q3/12 vs. Q3/13
200
- 3.6
180
160
600
- 10.4
- 5.7
300
185,9
166.2
60
40
- 19.7
519,9
479.8
200
100
20
0
- 20.6
400
120
80
+ 0.2
500
140
100
Net sales (MEUR) 1-9/12 vs. 1-9/13
Q3/2012
reported
Exchange Divested
rates
operations
Market
change
Q3/2013
reported
0
1-9/2012 Exchange Divested
reported
rates
operations
Market
change
1-9/2013
reported
Net sales MEUR 166.2 (185.9)
down by 10.6% (down by 8.7% at
comparable exchange rates)
Net sales MEUR 479.8 (519.9) down
by 7.7% (down by 7.8% at
comparable exchange rates)
Adjusted for transferred or divested
operations, net sales decreased by
3.3% at comparable exchange rates
Adjusted for transferred or divested
operations, net sales decreased by
4.0% at comparable exchange rates
25

26. Net sales declined in most markets during the
third quarter
Net sales by segment (MEUR) and Change % (YoY) Q3/12 vs. Q3/13
60,0
53.0
50,0
45.0
51.1
41.8
41.1
40,0
35.9
Q3/2012
30,0
18.8
20,0
11.4 11.9
10,0
0,0
Finland
−7.1%
Sweden
−3.6%
Norway
−12.8%
Denmark
3.9%
Q3/2013
17.9 16.92)
9.81)
Europe East
−47.6% 1)
Europe
Central
−5.8%
1) Adjusted for the transfer of the Russian and Ukrainian operations to Fortrent,
net sales increased in Q3/2013 by 7.0%
2) Adjusted for the divestment of the Hungarian business the decrease in net
sales in Q3/2013 was 1.6%
26

27. Rental income and ancillary income decreased
compared to previous year
Breakdown of net sales (%) and MEUR
100%
3%
3%
180
90%
80%
200
29%
29%
160
70%
−12.4%
112.8
−10.2%
100
40%
−2.6%
120
50%
5.6
47.8
54.6
140
60%
5.7
80
30%
68%
68%
60
20%
40
10%
20
0%
0
125.5
Q3/2012
Q3/2013
Q3/2012
Q3/2013
Income from sold equipment
Income from sold equipment
Ancillary income
Ancillary income
Rental income
Rental income
27

28. Gross margin improved slightly year-on-year
Gross margin (%) by quarter
68%
67%
66%
67%
69%
68%
69% 69%
69%
68%
68%
67%
67%
67%
66%
66%
65%
64%
Q1
Q2
Q3
2010
2011
Q4
2012
FY
2013
28

29. Number of employees decreased mainly due to
scaling down of operations in Europe Central
Number of employees by segment
680 677
577 572
657
652
533
478
465 467
441 443
181
Finland
Sweden
Norway
Personnel 30/9/12
192 194
Denmark
Personnel 31/12/12
626
491
211
Europe East
Europe
Central
Personnel 30/9/13
At the end of September 2013, the Group’s number of employees
was 2,592 (3,027)
At the end of 2012, the number of employees in Russia and Ukraine
amounted to 238
29

30. Ramirent continued strict cost control and
reduced customer centres in Finland and
Europe Central
Number of customer centres per segment
353
334
Q1
Q2
2010
Q3
Finland
Q4
Q1
2011
Sweden
Q2
Norway
Q3
Q4
Q1
2012
Denmark
Q2
Q3
Europe East
Q4
Q1
2013
325
Q2
306
Q3
Europe Central
30

31. Ramirent’s fixed costs reduced by 10 MEUR
compared to last year
Fixed costs by quarter (MEUR)
62
56
56
63
62
54
24
22
23
33
32
Q1
2010
Q2
Q3
25
38
37
37
70
68
28
25
41
42
42
Q3
Q4
Q1
2012
25
65
68
69
66
26
27
24
40
42
42
42
Q2
Q3
Q4
25
62
64
22
24
39
40
22
33
27
66
Q4
Q1
Q2
2011
Employee benefit expenses
Q1 Q2
2013
Q3
Other operating expenses
Group fixed costs 191.1 (201.0) MEUR in 1-9/2013, including 3.4
MEUR in non-recurring items
31

32. Profitability remained stable in the third
quarter 2013
EBITA (MEUR) and EBITA-margin (%) Q1/2010 – Q3/2013
35
32.0
30
31.8
25.92)
24.7
20
17.4
15
15%
22.61) 22.7
10%
16.5
14.4
12.7
10
5%
8.0
5
-5
29.7
27.3
25
0
20%
0%
3.6
Q1
2010
Q2
Q3
Q4
Q1
2011
Q2
Q3
Q4
Q1
2012
Q2
Q3
Q4
Q1
2013
Q2
Q3
-5%
-5.1
EBITA
-10
1-12/2010: 33.0
1-12/2011: 79.4
EBITA-%
1-12/2012: 100.6
-10%
R12: 100.9
1) First-quarter EBITA excluding non-recurring items was EUR 12.4 (14.4) million, representing 8.1% (8.7%) of net
sales
2) Third-quarter EBITA excluding non-recurring items was 29.3 (31.8) million or 17.6% (17.1%) of net sales
32

33. Hungary was divested from 1 September
2013
Group Net sales and Net sales in Russia, Ukraine and Hungary (MEUR)
200
150
100
50
1.6
6.8
156.0
1.5
4.6
146.8
1.7
7.8
1.7
0.0
160.3
159.1
2.3
9.6
1.6
2.1
9.4
174.0
164.6
182.6
0
Group (exc. Russia, Ukraine and Hungary)
Russia and Ukraine
Hungary
Group EBITA and EBITA in Russia, Ukraine and Hungary (MEUR)
30
20
10
−0.2 (Fortrent)
−0.2
−0.4
−0.2
15.0
−0.1
0.6
−0.8 (Fortrent)
−0.1
23.4
−1.9
0.5 (Fortrent)
0.3
0.6
0.0
11.4
24.2
0.4
1.7
29.7
3.5
26.7
25.6
11.2
0
Group (exc. Russia, Ukraine and Hungary)
Hungary
Fortrent
Russia and Ukraine
Loss from disposal of Hungary
33

34. January−September 2013 included EUR 3.8
million of non-recurring items
EBIT (MEUR) 1-9/12 vs 1-9/13
70
60
10.1
50
2.9
1.9
1.5
40
30
64.8
63.3
1-9/2012
reported
1-9/2013
reported
59.4
20
10
0
Capital gain
Goodwill
impairment
Loss from
disposal of
Hungary
Restructuring
provision in
Denmark
1-9/2013
adjusted
Reported EBIT was EUR 63.3 (64.8) million or 13.2% (12.5%) of net
sales
Non-recurring items in 1-9/2013: Capital gain of EUR 10.1 million booked
from the transaction to form Fortrent, impairment loss of EUR 2.9 million
in the Hungarian goodwill, loss of EUR 1.9 million from disposal of
Hungary and restructuring provision of 1.5 million in Denmark
EBIT excluding non-recurring items was EUR 59.4 (64.8) million,
representing 13.4% (13.6%) of net sales
34

35. Stable EBIT margin development in main
segments, compared to previous year
EBIT–margin (%) by segments
35.3%
24.2% 23.8%
23.4%
16.4% 15.5%
15.6% 16.0%
6.8%
7.1%2)
2.0%
-17.4%1)
Finland
Sweden
Norway
Q3/12
Denmark
East
Central
Q3/13
1) EBIT excluding non-recurring items was EUR −0.6 (0.8) million or −4.8% (6.8%) of net sales in
July–September 2013
2) EBIT excluding non-recurring items was EUR 3.1 (0.4) million or 18.2% (2.0%) of net sales in
July–September 2013
35

36. Investments are done to maintain fleet age
Purchased and sold equipment by quarter (MEUR)
67
38
34
30
19
8
5
12
4
Q1
2010
20
17
9
3
4
Q2
Q3
Q4
34
4
Q1
2011
5
6
Q2
Q3
Q4
Purchased equipment
8
Q1
2012
22
25
6
6
Q2
Q3
8
Q4
29
4
Q1
2013
28
8
Q2
28
6
Q3
Sold equipment
The total value of purchased equipment was 85.3 (67.2) million in 1-9/2013
The value of sold rental equipment was EUR 17.5 (19.5) million in 1-9/2013
36

37. Capital expenditure focused on Norway,
Sweden and Finland
Capital Expenditure by segments (MEUR)
11.7
7.4
6.0
7.6
8.4
6.1
2.62.5
2.5
1.6
East
Central
1.3
0.6
Finland Sweden Norway Denmark
7–9/2012
7–9/2013
No acquisitions were made during the quarter
37

38. Working capital below 6% at the end of the
September 2013
Working capital by quarter (MEUR)
Q1 Q2
2010
Q3 Q4
Q1 Q2
2011
Q3
Q4
125
129
115
136
141
131
Q1 Q2 Q3
2012
Q4
Q1 Q2
2013
14
0%
-102
15
-98
15
-143
15
-113
20
-122
18
-112
18
-139
17
-109
17
-107
17
-84
16
-82
-89
16
-80
-120
114
14
120
99
14
4%
2%
-86
-40
90
15
-86
0
-69
40
83
80
124
6%
109
120
95
8%
97
160
-2%
Q3
-4%
-6%
Trade payables and other liabilities
Trade and other receivables
Inventories
Working capital/Net sales Rolling 12 month basis
January–September 2013 credit losses and net change in the allowance
for bad debt totalled EUR −3.2 (−5.1) million
Dividend of EUR 36.6 million paid in April 2013
38

39. Return on investment at 17.5%
Invested capital (MEUR) and ROI (%) rolling 12 months
700
600
654
588
524
500
508
509
496
508
591
536
565
602
605
604
25%
611
604
20%
15%
400
300
10%
200
5%
100
0
Q1
2010
Q2
Q3
Q4
Q1
2011
Q2
Q3
Q4
Invested capital
Q1
2012
Q2
Q3
Q4
Q1
2013
Q2
Q3
0%
ROI % (R12)
Return on invested capital, ROI 17.5% (19.5%) at the end of
September 2013
39

40. Strong cash flow after investments in the third
quarter
Cash flow after investments (MEUR)
34.4
24.2
13.4
23.7
15.9
14.4
6.4
-4.0
16.8
19.0
7.3
-5.2
-10.7
-20.4
-36.8
Q1
2010
Q2
Q3
Q4
Q1
2011
Q2
Cash flow after investments
1-12/2010: 48.0
Q3
Q4
Q1
2012
Q2
Q3
Q4
Q1
2013
Q2
Q3
Cash flow after investments, Rolling 12 months
1-12/2011: −52.0
1-12/2012: 54.2
R12: 65.0
40

41. Ramirent's financial position strengthened
further during the quarter
Net debt (MEUR) and Net debt to EBITDA ratio
300
280
238
250
212 209
200
1.8x
197
1.9x
177
256
3
264
239
230
220
191
2
1.7x
150
263 258
281
1.6x
1.4x
1.7x
1.4x
1.4x
1.2x
100
1.4x
1.2x
1.1x
1.2x
1.1x
1
1.0x
50
0
Q1
2010
Q2
Q3
Q4
Q1
2011
Q2
Net debt
Q3
Q4
Q1
2012
Q2
Q3
Q4
Q1
2013
Q2
Q3
0
Net debt to EBITDA ratio
Net debt to EBITDA 1.1x (1.2x) at the end of September 2013
Dividend of EUR 36.6 million was paid in the second quarter
41

42. Return on equity at 16.9%
Total equity (MEUR) and ROE (%) rolling 12 months
400
350
309
300
296
308
318
316
296
305
326
347
305
364
319
342
344
361
25%
20%
15%
250
10%
200
150
5%
100
0%
50
0
Q1
2010
Q2
Q3
Q4
Q1
2011
Q2
Q3
Q4
Total equity
Q1
2012
Q2
Q3
Q4
Q1
2013
Q2
Q3
-5%
ROE % (R12)
Return on equity, ROE 16.9% (18.7%) for last 12 months
42

43. At end of September 2013, Ramirent had
unused committed back–up loan facilities of
EUR 208.6 million
Repayment schedule of interest–bearing liabilities (MEUR)
EUR 440 million in committed credit facilities
100
Net debt EUR 230.3 million
240
100
2013
2014
2015
2016
2017
2018
2019
In addition to bank facilities, Ramirent is utilising a domestic
commercial paper program of up to EUR 150 million
43

44. 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

45. COMPANY
OVERVIEW
45

46. Ramirent in brief
Leading equipment rental company in Northern, Central
and Eastern Europe with net sales of EUR 714 million
(2012)
Presence in 10 countries through 306 customer centers and
in two countries through joint venture Fortrent
2,592 employees serving 200,000 customers with 200,000
rental items
Founded in 1955 and headquartered in Finland
Listed on NASDAQ OMX Helsinki since 1998
46

47. Ramirent operates in Europe with Baltic Sea
region being the core market
Sales per segment 1-9/2013
Europe
East
5.6%
Europe
Central
8.7%
Wide network of customer centres
and leading market position (Q3/13)
Finland
23.5%
Denmark
6.7%
Norway
Norway
23.4%
Sweden
32.1%
Services
&Retail
10%
#1
74 customer
centres
Sweden
#2
75 customer
centres
Sales per customer 1-12/2012
Public
4%
Finland
#1
43 customer
centres
Europe East
#1
41 customer
centres
Private
3%
Construction
68%
Denmark
#1
16 customer
centres
Europe
Central
(PO+CZ+SL)
#1
57 customer
centres
Industrial
15%
Target is to increase sales to non-construction
customers to 40% of the Group's net sales
Fortrent,
presence
through JV
47

48. Targeting a wider range of customer industries
in all countries
Windpower
Oil and gas
Construction
Shipyards
Public
Power
Aviation
Households
© 2013 Ramirent
48

49. We accelerate our growth through
acquisitions and outsourcing cases
2013
2011-2012
2009-2010
Outsourcing deal
in Finland
Outsourcing deal in
Finland
Outsourcing deal with two
subsidiaries in Finland
Outsourcing deal
in Norway
Acquisition of
Czech rental
business
Acquisition of Swedish
rental company
Acquisition of
Finnish weather
protection rental
company
Acquisition of module rental
company in Norway
Acquisition of
Danish rental
business
Acquisition of
Czech rental
business
Outsourcing deal
in Norway
Acquisition of
Swedish rental
company
Outsourcing of
Mt Hojgaard's
Danish
scaffolding
division
Outsourcing deal
in Denmark
Aquisition of
Czech rental
business
Divestment of
operations in
Hungary
Acquisition of
Swedish rental
company
Ramirent Russian
and Ukrainian
operations moved
into JV with Cramo
Active
screening of
acquisition
targets
Outsourcing deal
in Finland
Acquisition of
Swedish rental
company
49

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

51. Broadest range of equipment and
Dynamic Rental SolutionsTM
SOLUTIONS
SERVICES
RAMIRENT OFFERING
PRODUCTS
•
•
•
•
Light machinery
Heavy machinery
Lifts
Power and
heating
• Modules
• Tower cranes
and hoists
• Scaffolding
• SAFE
Benefits:
Lighter balance sheets,
less investments
•
•
•
•
•
•
Planning
Business Support
On-Site Support
Merchandise Sales
Rental Insurance
Training
•
•
•
•
SpaceSolve
SafeSolve
AccessSolve
EcoSolve
• PowerSolve
• ClimateSolve
• TotalSolve
Benefits:
Easy to buy, reduced number of
subcontractors, increased focus
on the core business
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
INDUSTRIES
•
•
•
•
OUTSOURCING
Benefits:
By outsourcing their
machine fleet to Ramirent,
companies can increase
efficiency and simplify their
business by focusing on
core competences
Construction • Mining • Paper
Power generation • Oil & gas
Shipyards • Retail and Service
Public sector • Households
CUSTOMER NEEDS
51

52. Our offering
52

53. 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
53

54. Our strategic and operational themes
through the business cycles
Market conditions
Weak
Weak market
conditions in
2009-2010
Increased demand
and investments
2011-2012
Strategic themes
Operational themes
Stable
Strong
Business
cycle
Counter cyclical
cash flow
Customer First
Sustainable profitable growth
Operational Excellence
Balanced portfolio of customers, products and markets
• 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
54

55. Good organic and strategic growth
opportunities
Organic growth drivers
External growth drivers
Bolt-on and selected strategic
acquisitions
0%
Expansion in select customer industries
Public
Services 4%
&Retail
10%
Joint
Ventures
10%
10%
10%
15%
15%
20%
20%
M&A activity
Outsourcing
deals
20%
25%
30%
30%
40%
40%
40%
60%
45%
80%
60%
100%
70%
Increasing rental penetration
Private
3%
Construction
68%
Industrial
15%
Targeting 40% of
Group sales to
non-construction
customers
Consolidation opportunities in Europe
Ramirent
Loxam
Cramo
Algeco Scotsman
Speedy Hire
Liebherr-Mietpartner
GAM
Mediaco Lifting
Sarens
Kiloutou
HKL Baumschinen
Others
55

56. 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
56

57. Largest shareholders
Market Cap EUR 978.3 million
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. Ilmarinen Mutual Pension Insurance Company
4,145,154
3.81%
5. Odin funds
4,145,154
3.81%
6. Nordea funds
2,704,845
2.49%
7. Aktia funds
2,037,211
1.87%
Households
8. Veritas Pension Insurance Company Ltd
1,222,474
1.12%
Non-profit organizations
9. Fondita funds
1,149,822
1.06%
10. SEB funds
923,269
0.85%
Ramirent Oyj treasury shares
998,631
0.92%
Nominee registered
21,424,579
19.71%
Other shareholders
19,103,083
17.57%
108,697,328
100.00%
Largest shareholders
September 30, 2013
Total
Shareholders September 30, 2013
16%
33%
28%
2%
9%
12%
Private companies
Financial and insurance institutions
Public sector organizations
Foreigners
Trading information
Listing: NASDAX OMX Helsinki
Date of listing: April 30, 1998
Segment: Mid Cap
Sector: Industrials
Trading code: RMR1V
57

58. 5
06/11/2013
30/10/2013
23/10/2013
16/10/2013
09/10/2013
02/10/2013
25/09/2013
18/09/2013
11/09/2013
04/09/2013
28/08/2013
21/08/2013
14/08/2013
07/08/2013
31/07/2013
24/07/2013
17/07/2013
10/07/2013
03/07/2013
26/06/2013
19/06/2013
12/06/2013
05/06/2013
29/05/2013
22/05/2013
15/05/2013
08/05/2013
01/05/2013
24/04/2013
17/04/2013
10/04/2013
03/04/2013
27/03/2013
20/03/2013
13/03/2013
06/03/2013
27/02/2013
20/02/2013
13/02/2013
06/02/2013
30/01/2013
EUR
23/01/2013
16/01/2013
09/01/2013
02/01/2013
Share price development (YTD)
Ramirent Plc (RMR1V)
10
9.35 EUR*
9
8
7
6
*November 6, 2013
58

59. APPENDIX
59

60. Consolidated income statement
Restated*
CONSOLIDATED INCOME STATEMENT
7–9/13
7–9/12
1–9/13
1–9/12
1–12/12
112,764
125,526
316,133
340,292
463,070
47,830
54,627
146,186
160,160
223,899
5,574
5,720
17,471
19,490
27,115
166,168
185,873
479,791
519,942
714,083
827
850
12,524
1,834
3,026
(EUR 1,000)
Rental income
Ancillary income
Sales of equipment
NET SALES
Other operating income
Materials and services
−51,876
−58,294
−152,064
−167,097
−237,184
Employee benefit expenses
−39,625
−42,042
−120,813
−124,741
−166,324
Other operating expenses
−24,099
−26,089
−70,277
−76,239
−103,249
572
28
−353
85
116
−27,638
−30,596
−85,501
−88,967
−117,943
24,330
29,731
63,307
64,817
92,524
Share of result in associates and joint ventures
Depreciation and amortisation and impairment charges
EBIT
Financial income
Financial expenses
3,207
8,789
13,031
18,355
20,320
−6,946
−10,595
−25,302
−24,601
−29,803
EBT
20,590
27,925
51,037
58,571
83,041
Income taxes
−3,776
−6,940
−10,907
−14,732
−19,291
NET RESULT FOR THE PERIOD
16,814
20,986
40,130
43,840
63,749
16,814
20,986
40,130
43,840
63,749
Net result for the period attributable to:
Owners of the parent company
−
−
−
−
−
16,814
20,986
40,130
43,840
63,749
EPS on parent company shareholders' share of profit, basic, EUR
0.16
0.19
0.37
0.41
0.59
EPS on parent company shareholders' share of profit, diluted, EUR
0.16
0.19
0.37
0.41
0.59
Non-controlling interest
TOTAL
Earnings per share (EPS)
*Retrospective application of amendment to IAS 19 affecting Sweden and Norway segments
60

61. Balance sheet - Assets
CONSOLIDATED BALANCE SHEET
(EUR 1,000)
ASSETS
NON-CURRENT ASSETS
Property, plant and equipment
Goodwill
Other intangible assets
Investments in associates and Joint Ventures
Non-current loan receivables
Available-for-sale investments
Deferred tax assets
TOTAL NON-CURRENT ASSETS
CURRENT ASSETS
Inventories
Trade and other receivables
Current income tax assets
Cash and cash equivalents
TOTAL CURRENT ASSETS
30/9/2013
Restated*
30/9/2012
Restated*
31/12/2012
436,012
126,590
37,894
19,026
20,261
412
1,291
641,486
481,502
137,426
39,988
1,090
−
412
13,387
673,805
451,511
133,515
40,381
1,125
−
412
10,344
637,288
14,434
125,300
3,351
13,118
156,202
19,820
140,267
348
2,195
162,630
15,250
135,600
145
1,338
152,333
−
−
42,250
797,687
836,435
831,872
Assets held for sale
TOTAL ASSETS
*Retrospective application of amendment to IAS 19 affecting Sweden and Norway segments
61

62. Balance sheet – Equity and liabilities
30/9/2013
Restated*
30/9/2012
Restated*
31/12/2012
25,000
−3,376
113,568
225,498
360,690
−
360,690
25,000
−5,272
113,329
213,821
346,878
−
346,878
25,000
−4,924
113,329
230,168
363,573
−
363,573
57,417
14,806
1,379
243,405
5,546
322,553
80,337
10,893
1,530
175,729
9,117
277,605
73,333
13,948
972
191,199
8,071
287,523
101,973
1,128
11,303
40
114,444
121,612
1,202
6,687
82,451
211,952
112,956
826
10,936
49,513
174,231
−
−
6,545
TOTAL LIABILITIES
436,997
489,558
468,299
TOTAL EQUITY AND LIABILITIES
797,687
836,435
831 872
CONSOLIDATED BALANCE SHEET
(EUR 1,000)
EQUITY
Share capital
Revaluation fund
Invested unrestricted equity fund
Retained earnings
PARENT COMPANY SHAREHOLDERS’ EQUITY
Non-controlling interests
TOTAL EQUITY
NON-CURRENT LIABILITIES
Deferred tax liabilities
Pension obligations
Provisions
Interest-bearing liabilities
Other long-term liabilities
TOTAL NON-CURRENT LIABILITIES
CURRENT LIABILITIES
Trade payables and other liabilities
Provisions
Current income tax liabilities
Interest-bearing liabilities
TOTAL CURRENT LIABILITIES
Liabilities classified as held for sale
*Retrospective application of amendment to IAS 19 affecting Sweden and Norway segments
62

63. Key figures
Restated*
KEY FINANCIAL FIGURES
Restated*
1–9/12
1–12/12
7–9/13
7–9/12
166.2
185.9
479.8
519.9
714.1
−10.6%
3.7%
−7.7%
12.3%
9.9%
1–9/13
(MEUR)
Net sales, EUR million
Increase in net sales, %
EBITDA, EUR million
EBITDA, % of net sales
52.0
60.3
148.8
153.8
210.5
31.3%
32.5%
31.0%
29.6%
29.5%
EBITA, EUR million
25.9
31.8
71.2
70.9
100.6
EBITA, % net sales
15.6%
17.1%
14.8%
13.6%
14.1%
EBIT, EUR million
EBIT, % of net sales
EBT, EUR million
EBT, % of net sales
Net result for the reporting period, EUR million
24.3
29.7
63.3
64.8
92.5
14.6%
16.0%
13.2%
12.5%
13.0%
20.6
27.9
51.0
58.6
83.0
12.4%
15.0%
10.6%
11.3%
11.6%
16.8
21.0
40.1
43.8
63.7
10.1%
11.3%
8.4%
8.4%
8.9%
29.5
27.6
91.9
87.2
124.0
17.8%
14.8%
19.2%
16.8%
17.4%
604.1
605.1
604.3
Return on invested capital (ROI), %**
17.5%
19.5%
18.9%
Return on equity (ROE), %**
16.9%
18.7%
18.6%
Interest-bearing debt, EUR million
243.4
258.2
240.7
Net debt, EUR million
230.3
256.0
239.4
1.1x
1.2x
1.1x
Gearing, %
63.9%
73.8%
65.8%
Equity ratio, %
45.2%
41.5%
43.7%
Personnel, average during reporting period
2,787
3,100
3,077
Personnel, at end of reporting period
2,592
3,027
3,005
Net result for the reporting period, % of net sales
Gross capital expenditure, EUR million
Gross capital expenditure, % of net sales
Invested capital, EUR million, end of period
Net debt to EBITDA ratio
*Retrospective application of amendment to IAS 19 affecting Sweden and Norway segments
**The figures are calculated on a rolling twelve month basis.
63

64. Consolidated cash flow statement
CONSOLIDATED CASH FLOW STATEMENT (EUR 1,000)
7–9/13
7–9/12
1–9/13
1–9/12
1–12/12
20,590
27,925
51,037
58,571
83,041
27,638
30,596
85,501
88,967
117,943
1,304
2,061
7,703
9,723
12,542
Cash flow from operating activities
Result before taxes
Adjustments
Depreciation, amortisation and impairment charges
Adjustment for proceeds from sale of used rental equipment
Financial income and expenses
Other adjustments
3,739
1,806
12,270
6,246
9,413
14,554
−2,003
2,586
−2,243
−1,438
7,021
−6,316
8,046
−13,186
−15,367
Change in working capital
Change in trade and other receivables
1,196
−1,351
816
−1,480
1,576
−13,829
−5,101
−17,868
−9,555
−11,577
−2,972
−2,937
−8,022
−9,228
−12,293
549
1,071
1,857
3,048
3,470
Income tax paid
−2,566
−1,211
−17,153
−10,907
−13,325
Net cash generated from operating activities
57,225
44,539
126,773
119,956
173,985
−
−345
−
−13,940
−13,940
−27,818
−25,803
−87,804
−64,427
−99,177
−588
4,730
−4,121
−5,094
−7,598
138
587
262
854
897
5,481
−
14,681
−
−
Change in inventories
Change in non-interest-bearing liabilities
Interest paid
Interest received
Cash flow from investing activities
Acquisition of subsidiaries, net of cash
Investment in tangible non-current asset
Investment in intangible non-current assets
Proceeds from sale of tangible and intangible non-current assets (exc. used eq.)
Proceeds from sales of subsidiaries
Loan receivables, increase, decrease and other changes
Net cash flow from investing activities
−
−
−1,577
−
−
−22,786
−20,832
−78,560
−82,608
−119,818
−
−
−36,618
−30,147
−30,147
Cash flow from financing activities
Dividends paid
Purchase of treasury shares
Borrowings and repayments of short-term debt (net)
Borrowings of long-term debt
Repayments of long-term debt
Net cash flow from financing activities
Net change in cash and cash equivalents during the financial period
Cash at the beginning of the period
Cash at the end of the period
−
−
−
−2,714
−2,714
−21,545
17,832
−49,719
31,500
5,500
37
−14,076
99,113
1,012
9,311
−2,906
−27,357
−49,210
−37,235
−37,211
−24,414
−23,601
−36,433
−37,584
−55,261
10,025
106
11,780
−236
−1,094
3,093
2,089
1,338
2,431
2,431
13,118
2,195
13,118
2,195
1,338
64

65. Segment information: Net sales
NET SALES
(MEUR)
FINLAND
- Net sales (external)
- Inter-segment sales
SWEDEN
- Net sales (external)
- Inter-segment sales
NORWAY
- Net sales (external)
- Inter-segment sales
DENMARK
- Net sales (external)
- Inter-segment sales
EUROPE EAST
- Net sales (external)
- Inter-segment sales
EUROPE CENTRAL
- Net sales (external)
- Inter-segment sales
Elimination of sales between segments
NET SALES, TOTAL
Other operating income
7–9/13
7–9/12
1–9/13
1–9/12
1–12/12
41.3
0.5
44.7
0.3
112.5
0.7
123.6
1.2
165.0
1.5
50.8
0.3
53.0
0.0
153.9
0.6
150.9
1.2
207.5
2.4
35.9
0.0
41.1
0.0
112.8
0.0
122.9
0.1
173.6
0.5
11.6
0.2
11.4
0.0
31.9
0.2
32.4
0.0
44.6
0.1
9.8
0.0
18.7
0.0
27.0
0.1
45.7
0.3
63.0
0.3
16.8
0.1
−1.2
166.2
16.9
1.0
−1.4
185.9
41.7
0.3
−2.0
479.8
44.5
2.0
−4.7
519.9
60.4
2.3
−7.1
714.1
0.8
0.9
12.5
1.8
3.0
65

66. Segment information: EBIT and EBIT-margin
7–9/13
7–9/12
1–9/13
1–9/12
Restated*
1–12/12
9.9
10.9
18.8
22.9
30.2
23.8%
24.2%
16.6%
18.4%
18.2%
7.9
8.7
23.5
23.8
33.3
15.5%
16.4%
15.2%
15.7%
15.9%
5.7
6.4
17.4
15.7
22.2
16.0%
15.6%
15.5%
12.8%
12.8%
−2.1
0.8
−3.6
0.8
1.6
−17.4%
6.8%
−11.1%
2.4%
3.6%
3.5
4.4
14.5
5.9
10.9
35.3%
23.4%
53.4%
12.9%
17.3%
1.2
0.4
−3.7
−1.7
−1.6
7.1%
2.0%
−8.9%
−3.7%
−2.5%
Net items not allocated to operating
segments
−1.9
−1.8
−5.5
−2.7
−4.2
GROUP EBIT
24.3
29.7
63.3
64.8
92.5
% of net sales
14.6%
16.0%
13.2%
12.5%
13.0%
EBIT
(MEUR)
FINLAND
% of net sales
SWEDEN
% of net sales
NORWAY
% of net sales
DENMARK
% of net sales
EUROPE EAST
% of net sales
EUROPE CENTRAL
% of net sales
*Retrospective application of amendment to IAS 19 affecting Sweden and Norway segments
66

67. 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