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Rr results q1_2016_en_final2

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Ramirent Group

- Group sales increased 3.9% to 146 MEUR in Q1 2016 driven by growth in all markets except Norway. EBITA improved significantly to 7.2 MEUR due to higher sales and good cost control. - Key customer agreements were signed with NCC Roads in Finland and JM in Sweden, strengthening positions in infrastructure and construction. - Sales grew in most segments due to improving market conditions and demand, except in Norway and Central Europe where markets were sluggish. EBITA improved in Finland, Sweden, Denmark but was down in Central Europe and Norway.

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4 MAY2016 MAGNUSROSÉN,PRESIDENTANDCEO PIERREBRORSSON,CFO Improvement in sales and profitability InterimreportQ1/2016
• Group performance • Segment review • Market outlook • Key figures • Financial position • Appendices Agenda 2 4/5/2016 Interim report Q1/2016
3 • Netsales 146.0 (140.6) MEURup by3.9% orby 5.5% atcomparableexchangerates • EBITA 7.2 (4.1) MEUR upby75.5% • EBITA margin5.0% (2.9%) • ROCE10.7% (10.3%) • ROE14.6% (9.7%) • Grosscapex40.4 (18.1) MEUR • Netdebt 287.9 (226.2) MEUR • Netdebt toEBITDA 1.7x (1.4x) HighlightsQ12016–Improvementinsalesandprofitability 4/5/2016 Interim report Q1/2016
4/5/2016 Interim report Q1/20164 • RamirentsignedacooperationagreementwithNCC RoadsinFinland • Toserve thecustomer Ramirentinvested innewfleet especiallyneeded intheasphaltbusiness • TheagreementstrengthensRamirent’s positionwithin Finland’sinfrastructure constructionsector • Ramirentsigneditsfirst frame agreementwithJMABin Sweden • Three-year agreementfor equipment rentalandrelated services includesoptionfor prolongation • Theagreementcovers mostofRamirent’s product groups ImportantnewcustomeragreementswithNCCRoadsin FinlandandJMinSweden
First-quartersalesgrewinallmarketsexceptNorway QUARTERLY NET SALES(MEUR) CHANGEINNETSALES(%) 5 4/5/2016 Interim report Q1/2016 140.6 146.0 0 20 40 60 80 100 120 140 160 180 Q1 2015 Q1 2016 2.2% 3.9% 0% 2% 4% 6% 8% Q1 2015 Q1 2016 Up by 5.5% at comparable exchange rates Up by 5.4% at comparable exchange rates
First-quarterEBITAimprovedbasedonhighersalesand goodcontrolofmaterialandservicescosts QUARTERLY EBITA(MEUR) QUARTERLY EBITAMARGIN 6 4/5/2016 Interim report Q1/2016 2.9% 5.0% 0% 2% 4% 6% 8% 10% 12% Q1 2015 Q1 2016 4.1 7.2 0 2 4 6 8 10 12 14 Q1 2015 Q1 2016
• Salesgrowthwasdrivenby higherservicesalesand deliveriestoongoingTotal Solutionsprojects • ProjectsmainlyintheNordic countriesandinPoland 7 • Salesgrowthdrivenmainlyby improvingmarketconditions intheNordicconstructionand industrialsector • Demandwasweakerin EuropeCentralandtheBaltics duetoslowstarttotheyearin constructionofnewbuildings • Favourabledemandinall Nordiccountriesexcept Norway,wheredemandwas sluggishmainlyduetoaweak businessclimateintheoil&gas sector • InSwedendemandwasstrong especiallyinthepublicsector Q12016overviewbybusinessarea 4/5/2016 Interim report Q1/2016 Share of Group sales 63% 32% 5%
Alllong-termfinancialtargetsweremetinQ12016 8 4/5/2016 Interim report Q1/2016 *Rolling 12 months net sales growth at comparable exchange rates which was above FY2016 growth target of 4.4% (2.0%-points + 2.4% estimated GDP growth for 2016) Source: Average of GDP estimates from Nordea, SEB and OP (Weighted by size of the economy)
4/5/2016 Interim report Q1/20169 Segmentreview
HIGHLIGHTSQ1 16 Finland:Strongexecutioninthefirstquarter NETSALES KEY FIGURES PROFITABILITY • SalesgrewinallBusiness Areas based onstrong executionfromourFinnish teamsupportedby improved underlyingdemand inthemarket • InSolutions,especiallylargeconstructionprojectsand activityintheindustrysector supportedgrowthinthe firstquarter • EBITA improvement was mainlydrivenbyhighersales 0 10 20 30 40 50 Q1 2013 Q2 Q3 Q4 Q1 2014 Q2 Q3 Q4 Q1 2015 Q2 Q3 Q4 Q1 2016 Finland 1–3/16 1–3/15 Change 1–12/15 Net sales 38.1 32.0 19.0% 160.2 EBITA 2.9 0.8 262.6% 21.11) % of net sales 7.7% 2.5% 13.2%1) Capital employed 120.6 113.0 6.7% 120.6 ROCE (%)2) 18.8% 14.7% 17.5% Personnel (FTE) 471 487 -3.3% 455 Customer centres 53 62 -14.5% 56 Net sales up by 19.0% 10 0% 5% 10% 15% 20% 25% 30% Q1 2013 Q2 Q3 Q4 Q1 2014 Q2 Q3 Q4 Q1 2015 Q2 Q3 Q4 Q1 2016 EBITA-margin (%) ROCE (%) R12 1) Comparable EBITA was EUR 20.3 million or 12.7% of net sales in January–December 2015. The items affecting comparability included derecognition of a contingent liability and the amount, EUR 0.8 million was recognised in other operating income. 2) Rolling 12 months 4/5/2016 Interim report Q1/2016
HIGHLIGHTSQ1 16 Sweden:Salesgrew,EBITAimpactedbyprojectwrite- downs NETSALES KEY FIGURES PROFITABILITY • InGeneralRental,highsales growthachievedespecially among buildingconstructioncustomersandin Solutions, strongservice sales anddeliveriestoTotalSolutions projectscontributedtogrowth • InTemporary Spacestrongdemand continuedinthe publicsector • Write-downs insolutions projectsof1.1MEURhampered thefirstquarterEBITA 0% 5% 10% 15% 20% 25% Q1 2013 Q2 Q3 Q4 Q1 2014 Q2 Q3 Q4 Q1 2015 Q2 Q3 Q4 Q1 2016 EBITA-margin (%) ROCE (%) R12 0 10 20 30 40 50 60 70 Q1 2013 Q2 Q3 Q4 Q1 2014 Q2 Q3 Q4 Q1 2015 Q2 Q3 Q4 Q1 2016 11 1) Comparable EBITA was EUR 29.4 million or 13.1% in January–December 2015. The items affecting comparability included derecognition of a contingent consideration liability. The amount, EUR 3.8 million, was recognised in other operating income in the second quarter of 2015. A restructuring provision of EUR 0.3 million was recognised in the fourth quarter of 2015. 2) Rolling 12 months 4/5/2016 Interim report Q1/2016 Sweden 1–3/16 1–3/15 Change 1–12/15 Net sales 53.7 51.0 5.3% 225.4 EBITA 4.4 5.1 -13.8% 33.01) % of net sales 8.2% 10.0% 14.6%1) Capital employed 199.4 157.4 26.6% 199.0 ROCE (%)2) 15.5% 16.9% 16.1% Personnel (FTE) 751 760 -1.2% 779 Customer centres 78 80 -2.5% 78 Net sales up by 5.3% or by 4.6% at comparable exchange rates
HIGHLIGHTSQ1 16 NETSALES KEY FIGURES PROFITABILITY • InGeneralRentaland Solutionssales grew slightlyinthe firstquarter • Improved organisational structuressupported performanceinGeneralRentalandSolutions • Temporary spacewithexposuretooil& gas sector remains a challenge 0% 5% 10% 15% 20% 25% Q1 2013 Q2 Q3 Q4 Q1 2014 Q2 Q3 Q4 Q1 2015 Q2 Q3 Q4 Q1 2016 EBITA-margin (%) ROCE (%) R12 0 5 10 15 20 25 30 35 40 45 Q1 2013 Q2 Q3 Q4 Q1 2014 Q2 Q3 Q4 Q1 2015 Q2 Q3 Q4 Q1 2016 Net sales down by 10.2% or by 2.0% at comparable exchange rates 12 1) Comparable EBITA was EUR 7.0 million or 5.8% of net sales in January–December 2015. The items affecting comparability included EUR 0.5 million of restructuring costs recognised in the fourth quarter of 2015. 2) Rolling 12 months 4/5/2016 Interim report Q1/2016 Norway:Improvedprofitabilitydespitechallengesin Temporaryspace Norway 1–3/16 1–3/15 Change 1–12/15 Net sales 27.8 31.0 -10.2% 120.7 EBITA 1.3 1.0 33.0% 6.51) % of net sales 4.8% 3.3% 5.4%1) Capital employed 125.3 126.1 -0.6% 120.9 ROCE (%)2) 4.0% 7.8% 3.8% Personnel (FTE) 406 405 0.3% 401 Customer centres 41 43 -4.7% 42
HIGHLIGHTSQ1 16 Denmark:Improveddemandandlowercostbase improvedEBITA NETSALES KEY FIGURES PROFITABILITY • Strongperformancebythe Danishorganisation drove sales growth;InGeneral Rental,volumesgrewbased on highactivityespecially intheconstructionsector andin Solutions,strongservice sales contributedtogrowth • Salesgrowthwas also supportedby highersales ofused equipmentinthequarter • EBITA improvement was drivenby strongsales growth andsuccessfullyimplemented costreductionmeasures in 2015 thathaveresultedina lower fixedcostbase -25% -20% -15% -10% -5% 0% 5% 10% Q1 2013 Q2 Q3 Q4 Q1 2014 Q2 Q3 Q4 Q1 2015 Q2 Q3 Q4 Q1 2016 EBITA-margin (%) ROCE (%) R12 0 2 4 6 8 10 12 14 Q1 2013 Q2 Q3 Q4 Q1 2014 Q2 Q3 Q4 Q1 2015 Q2 Q3 Q4 Q1 2016 Net sales increased by 10.7% or by 10.9% at comparable exchange rates 13 1) Comparable EBITA was EUR 0.8 million or 1.8% of net sales in January–December 2015. The items affecting comparability included a EUR 0.5 million of restructuring provision recognised in the third quarter of 2015 2) Rolling 12 months 4/5/2016 Interim report Q1/2016 Denmark 1–3/16 1–3/15 Change 1–12/15 Net sales 10.4 9.4 10.7% 42.3 EBITA 0.4 -1.4 130.3% 0.31) % of net sales 4.0% -14.8% 0.7%1) Capital employed 30.5 25.0 22.4% 26.0 ROCE (%)2) 6.1% -16.7% -0.5% Personnel (FTE) 139 142 -2.3% 139 Customer centres 13 15 -13.3% 13
HIGHLIGHTSQ1 16 EuropeEast:StabledevelopmentinBaltics,apartfrom Latviawheremarketsituationhasweakened NETSALES KEY FIGURES PROFITABILITY(THEBALTICS) • Salesgrowthwas drivenbygoodperformanceinEstonia andLithuania,whilevolumesdeclinedin Latviabased on lower underlyingmarket activity • EBITA was hamperedbylower equipmentrentalvolumes andprice pressure inLatvia • FortrentGroup:Ramirent's shareoftheFortrent'snetresult was -0.1 (-0.1) MEUR; furthercostreductionmeasures will be implemented inQ216 0 2 4 6 8 10 12 Q1 2013 Q2 Q3 Q4 Q1 2014 Q2 Q3 Q4 Q1 2015 Q2 Q3 Q4 Q1 2016 Net sales increased by 1.7% -5% 0% 5% 10% 15% 20% 25% 30% 35% Q1 2013 Q2 Q3 Q4 Q1 2014 Q2 Q3 Q4 Q1 2015 Q2 Q3 Q4 Q1 2016 Baltics EBITA-margin (%) Baltics ROCE (%) R12 14 4/5/2016 Interim report Q1/2016 Europe East 1–3/16 1–3/15 Change 1–12/15 Net sales 6.7 6.6 1.7% 34.1 EBITA -0.2 0.1 -225.0% 7.2 % of net sales -2.3% 1.9% 21.2% Capital employed 52.0 46.0 12.9% 51.5 ROCE (%)1) 14.1% 13.2% 15.0% Personnel (FTE) 254 242 4.8% 251 Customer centres 44 43 2.3% 44 1) Rolling 12 months
HIGHLIGHTSQ1 16 EuropeCentral:Demandsupportedbyindustry projects, slowerstarttotheyearinconstructionactivity NETSALES KEY FIGURES PROFITABILITY • Salesgrowthwas supportedbygoodprogress inlarge power plant projectsin Poland,whereasactivityinthe constructionsectorwas slower thanexpected • Performanceremainedgood inSlovakia,butwas weaker intheCzechRepublic duetopostponements of constructionprojects • EBITA was negativelyimpactedbya highershareof service sales inthebusiness mixandtoughcompetitionin thePolish market -25% -20% -15% -10% -5% 0% 5% 10% 15% 20% Q1 2013 Q2 Q3 Q4 Q1 2014 Q2 Q3 Q4 Q1 2015 Q2 Q3 Q4 Q1 2016 EBITA-margin (%) ROCE (%) R12 15 0 2 4 6 8 10 12 14 16 18 Q1 2013 Q2 Q3 Q4 Q1 2014 Q2 Q3 Q4 Q1 2015 Q2 Q3 Q4 Q1 2016 4/5/2016 Interim report Q1/2016 Europe Central 1–3/16 1–3/15 Change 1–12/15 Net sales 11.3 11.0 2.5% 55.4 EBITA -0.8 -0.6 -34.8% 3.3 % of net sales -6.7% -5.1% 5.9% Capital employed 53.6 59.0 -9.1% 54.7 ROCE (%)1) 5.3% 3.7% 5.6% Personnel (FTE) 510 481 6.1% 493 Customer centres 55 58 -5.2% 55 Net sales up by 2.5% or by 5.4% at comparable exchange rates 1) Rolling 12 months
16 Marketoutlook 4/5/2016 Interim report Q1/2016
17 Rolling12monthssalesgrowthatcomparableexchange ratesaboveourlong-termfinancialtarget RAMIRENT'SNETSALESGROWTH ANDGDP GROWTH ESTIMATES(%) 3.6% 6.0% 2.5% 4.0% 6.0% 2.4% 0% 1% 2% 3% 4% 5% 6% 7% 8% Group full-year 2015 reported sales growth Group full-year 2015 sales growth at comparable exchange rates Average GDP growth in Ramirent countries 2015 Group Q1 16 rolling 12 months reported sales growth Group Q1 16 rolling 12 months sales growth at comparable exchange rates Average GDP growth in Ramirent countries 2016E Source: Average of GDP estimates from Nordea, SEB and OP (Weighted by size of the economy)4/5/2016 Interim report Q1/2016 Financial target: Annual net sales growth above GDP +2%-points
Ramirentexpectstoseestableandfairoverallmarket conditionsin2016 GDP GROWTH ESTIMATESBY SEGMENTFOR 2016 RAMIRENT'SEXPECTATIONSON OVERALL DEMANDBY EQUIPMENT RENTAL MARKET 18 Favourable Stable Challenging 4/5/2016 Interim report Q1/2016 Sources: Confederation of Finnish Construction Industries (RT) 4/2016, Swedish Construction Federation (BI) 3/2016, Prognosesenteret 3/2016, Danish Construction Industry (DB) 2/2016 and Euroconstruct 12/2015 0.6% 3.7% 1.4% 1.6% 2.6% 3.2% 0% 1% 2% 3% 4% 5% 6% Finland Sweden Norway Denmark The Baltics Europe Central 3.5% 4.0% 4.2% 2.7% 1.5% 5.8% 0% 1% 2% 3% 4% 5% 6% Finland Sweden Norway Denmark The Baltics Europe Central CONSTRUCTIONVOLUMEGROWTH BY SEGMENTFOR 2016
Ramirent outlookfor 2016unchanged In 2016, Ramirent’s net sales in local currencies and EBITA margin are expected to increase from the level in 2015. 19 4/5/2016 Interim report Q1/2016
4/5/2016 Interim report Q1/201620 Keyfigures
87.6 90.6 47.8 49.7 5.2 5.7 0 20 40 60 80 100 120 140 160 Q1 15 Q1 16 Rental income Ancillary income Income from sold equipment +3.4% +4.1% +9.6% 140.6 -2.4 8.7 146.0 0 20 40 60 80 100 120 140 160 Q1 15 reported Exchange rates Underlying change Q1 16 reported Increaseddemandforequipmentrentalandrelated servicesdrovesalesgrowth NET SALES (MEUR) Q1 16 BREAKDOWN OF NET SALES (MEUR) Q1 16 21 4/5/2016 Interim report Q1/2016
2.5% 10.0% 3.3% 3.8% -5.1% 7.7% 8.2% 4.8% 4.0% -1.1% -6.7% -10% -5% 0% 5% 10% 15% Finland Sweden Norway Denmark The Baltics Europe Central First-quartersalesgrowthatcomparableexchangerates, GDPgrowthandmarginsbysegment Q1 15 Q1 16 FIRST-QUARTER2016 SALESGROWTH AT COMPARABLEFX. ANDGDP GROWTH ESTIMATES* FIRST-QUARTER2016 EBITAMARGIN(%) 22 4/5/2016 Interim report Q1/2016 4.6% -2.0% 10.9% 1.7% 5.4% 0.6% 3.7% 1.4% 1.6% 2.6% 3.2% -2% 2% 6% 10% Finland Sweden Norway Denmark The Baltics Europe Central At comparable fx. Q1 2016 GDP growth FY2016E *Source: Average of GDP estimates from Nordea, SEB and OP -14.8% 19.0%
Salesgrowthandcostreductionsimplementedinthe previousyeardrivingEBITA EBITABRIDGE(MEUR) Q1 15 – Q1 16 4.1 2.1 −0.7 0.3 1.8 −0.3 −0.2 0.0 7.2 0 2 4 6 8 10 EBITA Q1 2015 Finland Sweden Norway Denmark Europe East Europe Central Items not allocated to segments EBITA Q1 2016 EBITA impacted by write-downs of 1.1 MEUR in Solutions projects Improvement driven by higher sales in all Business Areas 2.5% 10.0% 3.3% −14.8% 1.9% −5.1% 7.7% 8.2% 4.8% 4.0% −2.3% −6.7% EBITA margin Q1/2015 EBITA margin Q1/2016 23 4/5/2016 Interim report Q1/2016 Strong sales growth and cost reduction measures driving EBITA
20.3% 21.8% 0% 5% 10% 15% 20% 25% 30% Q1 15 Q1 16 EBITDA(MEUR) First-quarterEBITDAmarginimprovedto21.8%(20.3%) EBITDAMARGIN • First-quarter EBITDA margin improved to 21.8%(20.3%) of net sales • First-quarter EBITDA increased by 11.5% and amounted to 31.9 (28.6) MEUR 24 4/5/2016 Interim report Q1/2016 28.6 31.9 0 5 10 15 20 25 30 35 40 Q1 15 Q1 16
GROSSPROFIT (MEUR)Q1 16 67.3% 67.4% 62.3% 63.4% 40% 45% 50% 55% 60% 65% 70% 75% Q1 2013 Q2 Q3 Q4 Q1 2014 Q2 Q3 Q4 Q1 2015 Q2 Q3 Q4 Q1 2016 87.6 92.6 0 20 40 60 80 100 120 Q1 15 Q1 16 GROSSMARGIN(%) Q1 16 • First–quarter gross margin increased to 63.4% (62.3%) as a result of good control of material and services costs • First-quarter gross profit increased by 5.7% to 92.6 (87.6) MEUR 25 Grossmarginimprovedslightlyinthefirstquarter 4/5/2016 Interim report Q1/2016
FIXEDCOSTS (MEUR)AND% OF GROUP NETSALES Goodcontroloffixedcostsinthefirstquarter • First-quarter fixed costs 61.0 (59.6) MEUR or 41.8% (42.4%) of net sales • Employee benefit expenses 39.5 (37.8) MEUR • Other operating expenses 21.5 (21.9) MEUR • Rolling 12 months fixed costs amounted to 238.2 (237.0) MEUR or 37.2% (38.4%) of net sales • Rolling 12 months fixed costs excluding items affecting comparability amounted to 237.0 (232.8) MEUR or 37.0% (37.8%) of net sales 65.9 60.9 59.6 61.0 0% 5% 10% 15% 20% 25% 30% 35% 40% 45% 50% 0 10 20 30 40 50 60 70 80 Q1 2013 Q2 Q3 Q4 Q1 2014 Q2 Q3 Q4 Q1 2015 Q2 Q3 Q4 Q1 2016 26 4/5/2016 Interim report Q1/2016
Finland 471 (487) Sweden 751 (760) Norway 406 (405) Denmark 139 (142) The Baltics 254 (242) E. Central 510 (481) Group administration 155 (91) CUSTOMERCENTRES31 MARCH2016 PERSONNEL31 MARCH2016 Optimisationofcustomercentrenetworkcontinuedinthe firstquarter Group: 2,685 (2,608) 53 (62) 44 (43) 55 (58) 78 (80) 13 (15) 41 (43) 27 4/5/2016 Interim report Q1/2016 8.8 6.5 0 2 4 6 8 10 12 14 16 Q1 15 Q1 16 WORK SAFETY (ACCIDENTSPER MILLIONWORKINGHOURS) Total number of customer centres at the end of the first quarter was 284 (301)
EARNINGSPER SHARE EPSincreasedto0.02(-0.00) • Net financial items decreased to -1.7 (-2.2) MEUR in the first quarter • First-quarter EBT increased to 3.2 (-0.2) MEUR • Effective tax rate for the Group decreased to 20.0% (22.8%) • Result for the period amounted to 2.6 (-0.0) MEUR 28 0.10 0.02 0.02 0.00 0.02 0.04 0.06 0.08 0.10 0.12 0.14 0.16 0.18 0.20 Q1 2013 Q2 Q3 Q4 Q1 2014 Q2 Q3 Q4 Q1 2015 Q2 Q3 Q4 Q1 2016 4/5/2016 Interim report Q1/2016 (-0.00)
CAPITAL EXPENDITUREEXCL. ACQUISITIONS(MEUR)AND % OF NETSALES Investmentsinmachineryandequipment increasedto supportgrowthinallbusinessareas • Q1 16 Gross capex 40.4 (18.1) MEUR or 27.7% (12.9%) of net sales • Q1 16 investments in machinery and equipment 35.1 (15.9) MEUR. No acquisitions in the first quarter 2016 nor in 2015. • Sales of used equipment amounted to 5.7 (5.2) MEUR • Committed investments in rental machinery 57.0 (42.7) MEUR at the end of the first quarter 29 4/5/2016 Interim report Q1/2016 29.0 22.0 15.9 35.1 0% 5% 10% 15% 20% 25% 30% 35% 40% 0 10 20 30 40 50 60 Q1 2013 Q2 Q3 Q4 Q1 2014 Q2 Q3 Q4 Q1 2015 Q2 Q3 Q4 Q1 2016 Capex excl. acquisitions Share of net sales-%
CASHFLOWAFTER INVESTMENTS(MEUR) Operativecashflowincreasedinthefirstquarter,while cashflowafterinvestmentswasimpactedbyhighercapex • First–quarter cash flow from operations increased to 33.1 (18.3) MEUR • Cash flow from investing activities amounted to -39.9 (-17.4) MEUR in the first quarter • First-quarter cash flow after investments decreased to -6.8 (0.9) MEUR • Cash flow after investments mainly impacted by higher first- quarter capex 19.0 -5.1 0.9 -6.8 -30 -20 -10 0 10 20 30 40 Q1 2013 Q2 Q3 Q4 Q1 2014 Q2 Q3 Q4 Q1 2015 Q2 Q3 Q4 Q1 2016 30 4/5/2016 Interim report Q1/2016
Returnoncapitalemployedimprovedslightlyinthefirst quarterof2016 RETURN ON CAPITAL EMPLOYED% 10.3% 10.7% 0% 2% 4% 6% 8% 10% 12% 14% 16% 18% Q1 15 Q1 16 • TheGroup's first-quartercapitalemployed increasedby 17.9% to613.6 (520.3) MEUR RETURN ON CAPITAL EMPLOYED% ANDCAPITAL EMPLOYED(MEUR) 31 4/5/2016 Interim report Q1/2016 • First-quarterROCEimproved to10.7% (10.3%) 16.0% 11.6% 10.3% 10.7% 0% 5% 10% 15% 20% 25% 0 100 200 300 400 500 600 700 Q1 2013 Q2 Q3 Q4 Q1 2014 Q2 Q3 Q4 Q1 2015 Q2 Q3 Q4 Q1 2016
18.8% 15.5% 4.0% 6.1% 15.0% 5.3% -20% -15% -10% -5% 0% 5% 10% 15% 20% 25% Finland Sweden Norway Denmark The Baltics Central Q1 15 Q2 15 Q3 15 Q4 15 Q1 16 RETURN ON CAPITAL EMPLOYED% (ROLLING12 MONTHS) ROCEcontinuedtoimproveinFinlandandDenmark 32 4/5/2016 Interim report Q1/2016
Returnonequityaboveourlong-termfinancialtarget RETURN ON EQUITY% 9.7% 14.6% 0% 2% 4% 6% 8% 10% 12% 14% 16% 18% Q1 15 Q1 16 • TheGroup's totalequityamountedtoMEUR 280.4 (291.1) at theendofMarch2016 • Equityper share was2.60 (2.70) attheofendofthefirst quarter • Onarolling 12 monthsbasis Returnonequitywas14.6% (9.7%), whichwasslightlyabove long-termfinancial targetof12% perfiscalyear ROE % ANDTOTAL EQUITY(MEUR) 20.7% 13.6% 9.7% 14.6% 0% 5% 10% 15% 20% 25% 0 50 100 150 200 250 300 350 400 Q1 2013 Q2 Q3 Q4 Q1 2014 Q2 Q3 Q4 Q1 2015 Q2 Q3 Q4 Q1 2016 33 Financial target: Return on Equity of 12% per fiscal year 4/5/2016 Interim report Q1/2016
34 Financialposition 4/5/2016 Interim report Q1/2016
NetdebttoEBITDAratioclearlybelowourlong-term financialtarget NETDEBT (MEUR) • NetdebttoEBITDA ratiowas 1.7x(1.4x)at theendofthe firstquarter,whichwasbelow Ramirent’s long-term financialtargetofmaximum 2.5xattheendofeachfiscal year • Netdebtincreased compared tothepreviousyear amountingto287.9(226.2) MEUR NETDEBT TO EBITDARATIO 1.2x 1.0x 1.2x 1.4x 1.7x 0.0 0.5 1.0 1.5 2.0 2.5 3.0 Q1 2012 Q2 Q3 Q4 Q1 2013 Q2 Q3 Q4 Q1 2014 Q2 Q3 Q4 Q1 2015 Q2 Q3 Q4 Q1 2016 35 Financial target: Net debt to EBITDA below 2.5x at the end of each fiscal year 4/5/2016 Interim report Q1/2016 220.3 212.0 226.2 287.9 0 50 100 150 200 250 300 350 Q1 2013 Q2 Q3 Q4 Q1 2014 Q2 Q3 Q4 Q1 2015 Q2 Q3 Q4 Q1 2016
Netdebtincreasedmainlyduetoincreasednetcapex comparedtothepreviousyear CHANGEINNETDEBT Q1 15 – Q1 16 (MEUR) 36 4/5/2016 Interim report Q1/2016 226.2 287.9 166.2 3.6 9.6 13.7 165.1 43.1 0 50 100 150 200 250 300 Net debt Q1 15 Adjusted EBITDA Change in Working Capital Net paid interest Paid taxes Net capex Dividends Net debt Q1 16
Fixed 50% Floating 50% • Total loan portfolio (interest-bearing liabilities) 333.2 (229.2) MEUR at the end of the first quarter • First-quarter non- current interest-bearing liabilities amounted to 188.1 (188.0) MEUR • Current interest-bearing liabilities 145.2 (41.2) MEUR at the end of the first quarter • Domestic commerical paper programme increased from 150 MEUR to 250 MEUR Ramirentincreaseditsdomesticcommercialpaper programmeto250MEUR Loans from financial institu- tions 27% Bond 30% Com- mercial papers 43% INTEREST-BEARINGLIABILITIESQ1 16 INTERESTRATES TYPE Q1 16 37 4/5/2016 Interim report Q1/2016
REPAYMENTSCHEDULEOF INTEREST-BEARINGLIABILITES(MEUR) Attheendofthefirstquarter,Ramirenthadunused committedback–uploanfacilitiesofEUR127.3 • Ramirent had unused committed back-up loan facilities of 127.3 (189.0) MEUR available at the end of the first quarter • First-quarter average interest rate of the loan portfolio including interest rate hedges was 2.2% (3.0%) • In addition to bank facilities, Ramirent is utilising a domestic commercial paper programme of up to 250 MEUR 75 95 100 145 2016 2017 2018 2019 2020 Net debt EUR 287.9 million EUR 415.0 million in committed credit facilities 38 4/5/2016 Interim report Q1/2016
Forfurtherinformation 4/5/2016 Interim report Q1/201639
4/5/2016 Interim report Q1/201640 Appendix
• Ramirentisa leadingequipmentrental solutionsgroupoperatingin 10countrieswith2015net salesof EUR636million • Ramirent’smissionistocombinethebestequipment,servicesand know-howintorentalsolutionsthatsimplifycustomer’sbusiness • Ramirentservesa broadrange ofcustomersectorsincluding construction,industry,services,thepublicsectorand households • Ramirenthas2,685employeesoperatingfrom284customer centres • Ramirentwasfoundedin1955and islistedon theNASDAQHelsinki (RMR1V) Ramirent is a leading equipment rental solutions group serving a large customer base Russia and Ukraine presence through JV Fortrent JV Fehmarnbelt Solutions Services A/S, with Zeppelin Rental NET SALES PERSEGMENT Q116 NET SALES BY CUSTOMER SECTOR Q116 NET SALES BY BUSINESS AREAQ116 Finland 26% Sweden 36% Norway 19% Denmark 7% Europe East – Baltics 4% Europe Central 8% Construction 51% Industrial 19% Services & Retail 23% Public 3% Other 4% Private 1% General Rental 63% Solutions 32% Temporary Space 5% 41 4/5/2016 Interim report Q1/2016
42 Steel nail shop Rakennusmies founded Equipment rental business started JV in Moscow, Russia Enter Estonia MBO by key personnel and capital investors Enter Lithuania Listed on the Helsinki Stock Exchange Enter Poland Enter Slovakia 19831955 1988 1994 1995 1996 1997 1998 2000 2001 2002 2003 2004 2006 20132008 Acquires Bautas in Norway Acquires Altima in Sweden Fortrent JV with Cramo in Russia and Ukraine Acquired by the Partek group and renamed A-rakennusmies Enter Latvia Renamed Ramirent Greenfield entry to Czech RepublicJV in Ukraine and greenfield entry to Hungary Exit Hungary 2014-2015 Bolt-on acquisitions in the Nordics More than sixty years of knowledge and experience 4/5/2016 Interim report Q1/2016
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 Planning On-site services Logistics Merchandise sale Rental insurance Training Benefits Lighter balance sheets, less investments 43 Benefits Understanding client requirements helps to customise product and service selection and further improve productivity Heavy Equipment Access Equipment Lifts, Hoists, Scaffolding, Tower cranes Modules and site equipment Light Equipment Tools, power and heating equipment Integrated rental Solutions Benefits Easy to buy, reduced number of subcontractors, increased focus on the core business Ramirent's offering stretches from single equipment rental to solutions 4/5/2016 Interim report Q1/2016
We continue to pursue sustainable profitable growth through five strategic focus themes Customer facing Internal 44 4/5/2016 Interim report Q1/2016
CHARACTERISTICS • Localbusiness,where Ramirentprovidesequipment andservices • Highergrossmargin,butmust carryfixedcostsofthe customercentrenetwork • Highershareofequipment rental • Focusonserviceleveland efficiency Interim report Q1/2016 CHARACTERISTICS • Largerprojects,where Ramirentisinvolvedearlyin theprocess • Lowergrossmargin,with moresubcontractedservices • Moreserviceintenseandless employedcapital • Focusonturn-keysolutions andknow-how CHARACTERISTICS • Longrentalcontracts • Ramirentprovidesmodules foraccommodation,offices, schools&healthcare • Highmarginsbutcapital intense • Stablecashflowprofile Ramirent targets sustainable profitable growth by developing the business mix 45 4/5/2016 Business areas with different characteristicsand risk profiles Share of Group sales
Ramirent targets a business mix that balances growth opportunities, profitability and risk GROUP NET SALES SPLIT BY BUSINESS AREA Q1 16 46 Interim report Q1/20164/5/2016 Temporary Space 5% General Rental 63% Solutions 32%
Ramirent can generate growth in multiple ways Ramirent seeks growth from five different sources New customer segments New geographies Bolt-on acquisitions Capturing outsourcing opportunities in construction sector Increasing services, customer project coordination and solutions Grow with new customers Increased share- of-wallet with current customers Strategic transactions 47 Capturing outsourcing opportunities in other sectors 4/5/2016 Interim report Q1/2016
Strategy summary The leading and most progressive equipment rental solutions company • Annual net sales growth > GDP+2 %-points • Return on Equity (ROE) 12% per fiscal year • Net debt/EBITDA < 2.5x at the end of each fiscal year • Dividend pay-out ratio at least 40% of net profit More than machines Open, engaged, and progressive Sustainable profitable growth 48 4/5/2016 Interim report Q1/2016
Q12016Keyfigures 49 4/5/2016 KEY FIGURES (MEUR and %) 1−3/16 1−3/15 Change 1−12/15 Net sales 146.0 140.6 635.6 EBITDA 31.9 28.6 168.1 % of net sales 21.8% 20.3% 26.4% EBITA 7.2 4.1 66.8 % of net sales 5.0% 2.9% 10.5% EBIT 4.8 2.0 57.9 % of net sales 3.3% 1.4% 9.1% Net profit 2.6 −0.0 39.0 Earnings per share (EPS), (basic and diluted), EUR 0.02 −0.00 0.36 Gross capital expenditure on non-current assets 40.4 18.1 139.2 Cash flow after investments −6.8 0.9 −6.3 Return on capital employed (ROCE), %1) 10.7% 10.3% 10.0% Return on equity (ROE),%1) 14.6% 9.7% 12.1% Net debt 287.9 226.2 280.9 Net debt to EBITDA ratio1) 1.7x 1.4x 1.7x Gearing,% 102.7% 77.7% 88.0% Equity ratio,% 33.9% 38.6% 41.4% 1) Rolling 12 months Interim report Q1/2016
Returnoninvestmentimprovedslightlyinthefirstquarter RETURN ON INVESTMENT% 9.7% 10.8% 0% 2% 4% 6% 8% 10% 12% 14% 16% 18% Q1 15 Q1 16 • TheGroup'sinvestedcapitalincreasedby17.9%to613.6 (520.3)MEURduetoinvestmentsintherentalfleettocapture growthopportunitiesingrowingbusinessareas • Comparisonfiguresadjustedaccordingly RETURN ON INVESTMENT% AND INVESTEDCAPITAL (MEUR) 16.6% 11.2% 9.7% 10.8% 0% 5% 10% 15% 20% 25% 0 100 200 300 400 500 600 700 Q1 2013 Q2 Q3 Q4 Q1 2014 Q2 Q3 Q4 Q1 2015 Q2 Q3 Q4 Q1 2016 50 4/5/2016 Interim report Q1/2016 • Withthenew formula,first-quarterROIwas 10.8% (9.7%)
CalculationofReturnoninvestments(ROI%)hasbeen changedfromthebeginningof2016 51 4/5/2016 Interim report Q1/2016 12.9% -249 basis points 40 basis points 10.8% 0% 2% 4% 6% 8% 10% 12% 14% 16% ROI Q1 15 (old) Change in calculation Profitability improvement ROI Q1 16 (new) • In the new Return on investment (ROI) calculation, exchange rates are excluded from the nominator in the formula • The comparative information is adjusted accordingly in the first quarter report • First-quarter 2016 ROI % with the new formula was 10.8% (9.7%) • Change in calculation decreased ROI by 249 bps, while improved profitability had a positive impact of 40 bps to the ROI RETURN ON INVESTMENT(ROI %) BRIDGEQ1 15 – Q1 16 New ROI = 𝑅𝑒𝑠𝑢𝑙𝑡 𝑏𝑒𝑓𝑜𝑟𝑒 𝑡𝑎𝑥𝑒𝑠+𝑖𝑛𝑡𝑒𝑟𝑒𝑠𝑡 𝑎𝑛𝑑 𝑜𝑡ℎ𝑒𝑟 𝑓𝑖𝑛𝑎𝑛𝑐𝑖𝑎𝑙 𝑒𝑥𝑝𝑒𝑛𝑠𝑒𝑠 𝑒𝑥𝑐𝑙𝑢𝑑𝑖𝑛𝑔 𝑓𝑥. 𝑑𝑖𝑓𝑓𝑒𝑟𝑒𝑛𝑐𝑒𝑠 𝑇𝑜𝑡𝑎𝑙 𝑎𝑠𝑠𝑒𝑠𝑡 −𝑖𝑛𝑡𝑒𝑟𝑒𝑠𝑡 𝑏𝑒𝑎𝑟𝑖𝑛𝑔 𝑙𝑖𝑎𝑏𝑖𝑙𝑖𝑡𝑖𝑒𝑠 (𝑎𝑣𝑒𝑟𝑎𝑔𝑒 𝑜𝑣𝑒𝑟 𝑡ℎ𝑒 𝑓𝑖𝑛𝑎𝑛𝑐𝑖𝑎𝑙 𝑝𝑒𝑟𝑟𝑖𝑜𝑑) ∗ 100%Old ROI = 𝑅𝑒𝑠𝑢𝑙𝑡 𝑏𝑒𝑓𝑜𝑟𝑒 𝑡𝑎𝑥𝑒𝑠+𝑖𝑛𝑡𝑒𝑟𝑒𝑠𝑡 𝑎𝑛𝑑 𝑜𝑡ℎ𝑒𝑟 𝑓𝑖𝑛𝑎𝑛𝑐𝑖𝑎𝑙 𝑒𝑥𝑝𝑒𝑛𝑠𝑒𝑠 𝑇𝑜𝑡𝑎𝑙 𝑎𝑠𝑠𝑒𝑠𝑡 −𝑖𝑛𝑡𝑒𝑟𝑒𝑠𝑡 𝑏𝑒𝑎𝑟𝑖𝑛𝑔 𝑙𝑖𝑎𝑏𝑖𝑙𝑖𝑡𝑖𝑒𝑠 (𝑎𝑣𝑒𝑟𝑎𝑔𝑒 𝑜𝑣𝑒𝑟 𝑡ℎ𝑒 𝑓𝑖𝑛𝑎𝑛𝑐𝑖𝑎𝑙 𝑝𝑒𝑟𝑟𝑖𝑜𝑑) ∗ 100%
Ramirent‘s largest shareholders at the end of March 2016 TRADING INFORMATION Listing: NASDAQ HELSINKI Segment: Mid Cap Sector: Industrials Trading code: RMR1V SHARE INFORMATION Q1 16 Closing price 5.75 (6.61) Highest 6.41 (7.45) Lowest 5.05 (6.35) VWAP* 5.86 (6.99) At the end of March 2016 a total of 52.1% (51.2%) of the company’s shares were owned by nominee- registered and non-Finnish investors 52 LARGESTSHAREHOLDERS31 MARCH2016 Largest shareholders Number of shares % of share capital 1. Nordstjernan AB 27,513,716 25.31% 2. Oy Julius Tallberg Ab 12,207,229 11.23% 3. Nordea funds 5,384,915 4.95% 4. Varma Mutual Pension Insurance Company 3,640,865 3.35% 5. Ilmarinen Mutual Pension Insurance Company 3,445,154 3.17% 6. Aktia funds 2,055,558 1.89% 7. Ramirent Plc 948,014 0.87% 8. Pensionsförsäkringsaktiebolaget Veritas 708,353 0.65% 9. Föreningen Konstsamfundet R.f 593,500 0.55% 10. The State Pension Fund 532,000 0.49% Subtotal 10 largest shareholders 57,029,304 52.47% Other shareholders 51,668,024 47.53% Total number of shares 108,697,328 100.00% *VWAP = Volume weighted average trading price 4/5/2016 Interim report Q1/2016
Ramirent's share price development in 2016 53 INDEX 4/5/2016 Interim report Q1/2016 70 80 90 100 110 Ramirent OMX Helsinki OMX Helsinki Mid Cap
Rr results q1_2016_en_final2

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Rr results q1_2016_en_final2

  • 2. • Group performance • Segment review • Market outlook • Key figures • Financial position • Appendices Agenda 2 4/5/2016 Interim report Q1/2016
  • 3. 3 • Netsales 146.0 (140.6) MEURup by3.9% orby 5.5% atcomparableexchangerates • EBITA 7.2 (4.1) MEUR upby75.5% • EBITA margin5.0% (2.9%) • ROCE10.7% (10.3%) • ROE14.6% (9.7%) • Grosscapex40.4 (18.1) MEUR • Netdebt 287.9 (226.2) MEUR • Netdebt toEBITDA 1.7x (1.4x) HighlightsQ12016–Improvementinsalesandprofitability 4/5/2016 Interim report Q1/2016
  • 4. 4/5/2016 Interim report Q1/20164 • RamirentsignedacooperationagreementwithNCC RoadsinFinland • Toserve thecustomer Ramirentinvested innewfleet especiallyneeded intheasphaltbusiness • TheagreementstrengthensRamirent’s positionwithin Finland’sinfrastructure constructionsector • Ramirentsigneditsfirst frame agreementwithJMABin Sweden • Three-year agreementfor equipment rentalandrelated services includesoptionfor prolongation • Theagreementcovers mostofRamirent’s product groups ImportantnewcustomeragreementswithNCCRoadsin FinlandandJMinSweden
  • 5. First-quartersalesgrewinallmarketsexceptNorway QUARTERLY NET SALES(MEUR) CHANGEINNETSALES(%) 5 4/5/2016 Interim report Q1/2016 140.6 146.0 0 20 40 60 80 100 120 140 160 180 Q1 2015 Q1 2016 2.2% 3.9% 0% 2% 4% 6% 8% Q1 2015 Q1 2016 Up by 5.5% at comparable exchange rates Up by 5.4% at comparable exchange rates
  • 6. First-quarterEBITAimprovedbasedonhighersalesand goodcontrolofmaterialandservicescosts QUARTERLY EBITA(MEUR) QUARTERLY EBITAMARGIN 6 4/5/2016 Interim report Q1/2016 2.9% 5.0% 0% 2% 4% 6% 8% 10% 12% Q1 2015 Q1 2016 4.1 7.2 0 2 4 6 8 10 12 14 Q1 2015 Q1 2016
  • 7. • Salesgrowthwasdrivenby higherservicesalesand deliveriestoongoingTotal Solutionsprojects • ProjectsmainlyintheNordic countriesandinPoland 7 • Salesgrowthdrivenmainlyby improvingmarketconditions intheNordicconstructionand industrialsector • Demandwasweakerin EuropeCentralandtheBaltics duetoslowstarttotheyearin constructionofnewbuildings • Favourabledemandinall Nordiccountriesexcept Norway,wheredemandwas sluggishmainlyduetoaweak businessclimateintheoil&gas sector • InSwedendemandwasstrong especiallyinthepublicsector Q12016overviewbybusinessarea 4/5/2016 Interim report Q1/2016 Share of Group sales 63% 32% 5%
  • 8. Alllong-termfinancialtargetsweremetinQ12016 8 4/5/2016 Interim report Q1/2016 *Rolling 12 months net sales growth at comparable exchange rates which was above FY2016 growth target of 4.4% (2.0%-points + 2.4% estimated GDP growth for 2016) Source: Average of GDP estimates from Nordea, SEB and OP (Weighted by size of the economy)
  • 9. 4/5/2016 Interim report Q1/20169 Segmentreview
  • 10. HIGHLIGHTSQ1 16 Finland:Strongexecutioninthefirstquarter NETSALES KEY FIGURES PROFITABILITY • SalesgrewinallBusiness Areas based onstrong executionfromourFinnish teamsupportedby improved underlyingdemand inthemarket • InSolutions,especiallylargeconstructionprojectsand activityintheindustrysector supportedgrowthinthe firstquarter • EBITA improvement was mainlydrivenbyhighersales 0 10 20 30 40 50 Q1 2013 Q2 Q3 Q4 Q1 2014 Q2 Q3 Q4 Q1 2015 Q2 Q3 Q4 Q1 2016 Finland 1–3/16 1–3/15 Change 1–12/15 Net sales 38.1 32.0 19.0% 160.2 EBITA 2.9 0.8 262.6% 21.11) % of net sales 7.7% 2.5% 13.2%1) Capital employed 120.6 113.0 6.7% 120.6 ROCE (%)2) 18.8% 14.7% 17.5% Personnel (FTE) 471 487 -3.3% 455 Customer centres 53 62 -14.5% 56 Net sales up by 19.0% 10 0% 5% 10% 15% 20% 25% 30% Q1 2013 Q2 Q3 Q4 Q1 2014 Q2 Q3 Q4 Q1 2015 Q2 Q3 Q4 Q1 2016 EBITA-margin (%) ROCE (%) R12 1) Comparable EBITA was EUR 20.3 million or 12.7% of net sales in January–December 2015. The items affecting comparability included derecognition of a contingent liability and the amount, EUR 0.8 million was recognised in other operating income. 2) Rolling 12 months 4/5/2016 Interim report Q1/2016
  • 11. HIGHLIGHTSQ1 16 Sweden:Salesgrew,EBITAimpactedbyprojectwrite- downs NETSALES KEY FIGURES PROFITABILITY • InGeneralRental,highsales growthachievedespecially among buildingconstructioncustomersandin Solutions, strongservice sales anddeliveriestoTotalSolutions projectscontributedtogrowth • InTemporary Spacestrongdemand continuedinthe publicsector • Write-downs insolutions projectsof1.1MEURhampered thefirstquarterEBITA 0% 5% 10% 15% 20% 25% Q1 2013 Q2 Q3 Q4 Q1 2014 Q2 Q3 Q4 Q1 2015 Q2 Q3 Q4 Q1 2016 EBITA-margin (%) ROCE (%) R12 0 10 20 30 40 50 60 70 Q1 2013 Q2 Q3 Q4 Q1 2014 Q2 Q3 Q4 Q1 2015 Q2 Q3 Q4 Q1 2016 11 1) Comparable EBITA was EUR 29.4 million or 13.1% in January–December 2015. The items affecting comparability included derecognition of a contingent consideration liability. The amount, EUR 3.8 million, was recognised in other operating income in the second quarter of 2015. A restructuring provision of EUR 0.3 million was recognised in the fourth quarter of 2015. 2) Rolling 12 months 4/5/2016 Interim report Q1/2016 Sweden 1–3/16 1–3/15 Change 1–12/15 Net sales 53.7 51.0 5.3% 225.4 EBITA 4.4 5.1 -13.8% 33.01) % of net sales 8.2% 10.0% 14.6%1) Capital employed 199.4 157.4 26.6% 199.0 ROCE (%)2) 15.5% 16.9% 16.1% Personnel (FTE) 751 760 -1.2% 779 Customer centres 78 80 -2.5% 78 Net sales up by 5.3% or by 4.6% at comparable exchange rates
  • 12. HIGHLIGHTSQ1 16 NETSALES KEY FIGURES PROFITABILITY • InGeneralRentaland Solutionssales grew slightlyinthe firstquarter • Improved organisational structuressupported performanceinGeneralRentalandSolutions • Temporary spacewithexposuretooil& gas sector remains a challenge 0% 5% 10% 15% 20% 25% Q1 2013 Q2 Q3 Q4 Q1 2014 Q2 Q3 Q4 Q1 2015 Q2 Q3 Q4 Q1 2016 EBITA-margin (%) ROCE (%) R12 0 5 10 15 20 25 30 35 40 45 Q1 2013 Q2 Q3 Q4 Q1 2014 Q2 Q3 Q4 Q1 2015 Q2 Q3 Q4 Q1 2016 Net sales down by 10.2% or by 2.0% at comparable exchange rates 12 1) Comparable EBITA was EUR 7.0 million or 5.8% of net sales in January–December 2015. The items affecting comparability included EUR 0.5 million of restructuring costs recognised in the fourth quarter of 2015. 2) Rolling 12 months 4/5/2016 Interim report Q1/2016 Norway:Improvedprofitabilitydespitechallengesin Temporaryspace Norway 1–3/16 1–3/15 Change 1–12/15 Net sales 27.8 31.0 -10.2% 120.7 EBITA 1.3 1.0 33.0% 6.51) % of net sales 4.8% 3.3% 5.4%1) Capital employed 125.3 126.1 -0.6% 120.9 ROCE (%)2) 4.0% 7.8% 3.8% Personnel (FTE) 406 405 0.3% 401 Customer centres 41 43 -4.7% 42
  • 13. HIGHLIGHTSQ1 16 Denmark:Improveddemandandlowercostbase improvedEBITA NETSALES KEY FIGURES PROFITABILITY • Strongperformancebythe Danishorganisation drove sales growth;InGeneral Rental,volumesgrewbased on highactivityespecially intheconstructionsector andin Solutions,strongservice sales contributedtogrowth • Salesgrowthwas also supportedby highersales ofused equipmentinthequarter • EBITA improvement was drivenby strongsales growth andsuccessfullyimplemented costreductionmeasures in 2015 thathaveresultedina lower fixedcostbase -25% -20% -15% -10% -5% 0% 5% 10% Q1 2013 Q2 Q3 Q4 Q1 2014 Q2 Q3 Q4 Q1 2015 Q2 Q3 Q4 Q1 2016 EBITA-margin (%) ROCE (%) R12 0 2 4 6 8 10 12 14 Q1 2013 Q2 Q3 Q4 Q1 2014 Q2 Q3 Q4 Q1 2015 Q2 Q3 Q4 Q1 2016 Net sales increased by 10.7% or by 10.9% at comparable exchange rates 13 1) Comparable EBITA was EUR 0.8 million or 1.8% of net sales in January–December 2015. The items affecting comparability included a EUR 0.5 million of restructuring provision recognised in the third quarter of 2015 2) Rolling 12 months 4/5/2016 Interim report Q1/2016 Denmark 1–3/16 1–3/15 Change 1–12/15 Net sales 10.4 9.4 10.7% 42.3 EBITA 0.4 -1.4 130.3% 0.31) % of net sales 4.0% -14.8% 0.7%1) Capital employed 30.5 25.0 22.4% 26.0 ROCE (%)2) 6.1% -16.7% -0.5% Personnel (FTE) 139 142 -2.3% 139 Customer centres 13 15 -13.3% 13
  • 14. HIGHLIGHTSQ1 16 EuropeEast:StabledevelopmentinBaltics,apartfrom Latviawheremarketsituationhasweakened NETSALES KEY FIGURES PROFITABILITY(THEBALTICS) • Salesgrowthwas drivenbygoodperformanceinEstonia andLithuania,whilevolumesdeclinedin Latviabased on lower underlyingmarket activity • EBITA was hamperedbylower equipmentrentalvolumes andprice pressure inLatvia • FortrentGroup:Ramirent's shareoftheFortrent'snetresult was -0.1 (-0.1) MEUR; furthercostreductionmeasures will be implemented inQ216 0 2 4 6 8 10 12 Q1 2013 Q2 Q3 Q4 Q1 2014 Q2 Q3 Q4 Q1 2015 Q2 Q3 Q4 Q1 2016 Net sales increased by 1.7% -5% 0% 5% 10% 15% 20% 25% 30% 35% Q1 2013 Q2 Q3 Q4 Q1 2014 Q2 Q3 Q4 Q1 2015 Q2 Q3 Q4 Q1 2016 Baltics EBITA-margin (%) Baltics ROCE (%) R12 14 4/5/2016 Interim report Q1/2016 Europe East 1–3/16 1–3/15 Change 1–12/15 Net sales 6.7 6.6 1.7% 34.1 EBITA -0.2 0.1 -225.0% 7.2 % of net sales -2.3% 1.9% 21.2% Capital employed 52.0 46.0 12.9% 51.5 ROCE (%)1) 14.1% 13.2% 15.0% Personnel (FTE) 254 242 4.8% 251 Customer centres 44 43 2.3% 44 1) Rolling 12 months
  • 15. HIGHLIGHTSQ1 16 EuropeCentral:Demandsupportedbyindustry projects, slowerstarttotheyearinconstructionactivity NETSALES KEY FIGURES PROFITABILITY • Salesgrowthwas supportedbygoodprogress inlarge power plant projectsin Poland,whereasactivityinthe constructionsectorwas slower thanexpected • Performanceremainedgood inSlovakia,butwas weaker intheCzechRepublic duetopostponements of constructionprojects • EBITA was negativelyimpactedbya highershareof service sales inthebusiness mixandtoughcompetitionin thePolish market -25% -20% -15% -10% -5% 0% 5% 10% 15% 20% Q1 2013 Q2 Q3 Q4 Q1 2014 Q2 Q3 Q4 Q1 2015 Q2 Q3 Q4 Q1 2016 EBITA-margin (%) ROCE (%) R12 15 0 2 4 6 8 10 12 14 16 18 Q1 2013 Q2 Q3 Q4 Q1 2014 Q2 Q3 Q4 Q1 2015 Q2 Q3 Q4 Q1 2016 4/5/2016 Interim report Q1/2016 Europe Central 1–3/16 1–3/15 Change 1–12/15 Net sales 11.3 11.0 2.5% 55.4 EBITA -0.8 -0.6 -34.8% 3.3 % of net sales -6.7% -5.1% 5.9% Capital employed 53.6 59.0 -9.1% 54.7 ROCE (%)1) 5.3% 3.7% 5.6% Personnel (FTE) 510 481 6.1% 493 Customer centres 55 58 -5.2% 55 Net sales up by 2.5% or by 5.4% at comparable exchange rates 1) Rolling 12 months
  • 17. 17 Rolling12monthssalesgrowthatcomparableexchange ratesaboveourlong-termfinancialtarget RAMIRENT'SNETSALESGROWTH ANDGDP GROWTH ESTIMATES(%) 3.6% 6.0% 2.5% 4.0% 6.0% 2.4% 0% 1% 2% 3% 4% 5% 6% 7% 8% Group full-year 2015 reported sales growth Group full-year 2015 sales growth at comparable exchange rates Average GDP growth in Ramirent countries 2015 Group Q1 16 rolling 12 months reported sales growth Group Q1 16 rolling 12 months sales growth at comparable exchange rates Average GDP growth in Ramirent countries 2016E Source: Average of GDP estimates from Nordea, SEB and OP (Weighted by size of the economy)4/5/2016 Interim report Q1/2016 Financial target: Annual net sales growth above GDP +2%-points
  • 18. Ramirentexpectstoseestableandfairoverallmarket conditionsin2016 GDP GROWTH ESTIMATESBY SEGMENTFOR 2016 RAMIRENT'SEXPECTATIONSON OVERALL DEMANDBY EQUIPMENT RENTAL MARKET 18 Favourable Stable Challenging 4/5/2016 Interim report Q1/2016 Sources: Confederation of Finnish Construction Industries (RT) 4/2016, Swedish Construction Federation (BI) 3/2016, Prognosesenteret 3/2016, Danish Construction Industry (DB) 2/2016 and Euroconstruct 12/2015 0.6% 3.7% 1.4% 1.6% 2.6% 3.2% 0% 1% 2% 3% 4% 5% 6% Finland Sweden Norway Denmark The Baltics Europe Central 3.5% 4.0% 4.2% 2.7% 1.5% 5.8% 0% 1% 2% 3% 4% 5% 6% Finland Sweden Norway Denmark The Baltics Europe Central CONSTRUCTIONVOLUMEGROWTH BY SEGMENTFOR 2016
  • 19. Ramirent outlookfor 2016unchanged In 2016, Ramirent’s net sales in local currencies and EBITA margin are expected to increase from the level in 2015. 19 4/5/2016 Interim report Q1/2016
  • 20. 4/5/2016 Interim report Q1/201620 Keyfigures
  • 21. 87.6 90.6 47.8 49.7 5.2 5.7 0 20 40 60 80 100 120 140 160 Q1 15 Q1 16 Rental income Ancillary income Income from sold equipment +3.4% +4.1% +9.6% 140.6 -2.4 8.7 146.0 0 20 40 60 80 100 120 140 160 Q1 15 reported Exchange rates Underlying change Q1 16 reported Increaseddemandforequipmentrentalandrelated servicesdrovesalesgrowth NET SALES (MEUR) Q1 16 BREAKDOWN OF NET SALES (MEUR) Q1 16 21 4/5/2016 Interim report Q1/2016
  • 22. 2.5% 10.0% 3.3% 3.8% -5.1% 7.7% 8.2% 4.8% 4.0% -1.1% -6.7% -10% -5% 0% 5% 10% 15% Finland Sweden Norway Denmark The Baltics Europe Central First-quartersalesgrowthatcomparableexchangerates, GDPgrowthandmarginsbysegment Q1 15 Q1 16 FIRST-QUARTER2016 SALESGROWTH AT COMPARABLEFX. ANDGDP GROWTH ESTIMATES* FIRST-QUARTER2016 EBITAMARGIN(%) 22 4/5/2016 Interim report Q1/2016 4.6% -2.0% 10.9% 1.7% 5.4% 0.6% 3.7% 1.4% 1.6% 2.6% 3.2% -2% 2% 6% 10% Finland Sweden Norway Denmark The Baltics Europe Central At comparable fx. Q1 2016 GDP growth FY2016E *Source: Average of GDP estimates from Nordea, SEB and OP -14.8% 19.0%
  • 23. Salesgrowthandcostreductionsimplementedinthe previousyeardrivingEBITA EBITABRIDGE(MEUR) Q1 15 – Q1 16 4.1 2.1 −0.7 0.3 1.8 −0.3 −0.2 0.0 7.2 0 2 4 6 8 10 EBITA Q1 2015 Finland Sweden Norway Denmark Europe East Europe Central Items not allocated to segments EBITA Q1 2016 EBITA impacted by write-downs of 1.1 MEUR in Solutions projects Improvement driven by higher sales in all Business Areas 2.5% 10.0% 3.3% −14.8% 1.9% −5.1% 7.7% 8.2% 4.8% 4.0% −2.3% −6.7% EBITA margin Q1/2015 EBITA margin Q1/2016 23 4/5/2016 Interim report Q1/2016 Strong sales growth and cost reduction measures driving EBITA
  • 24. 20.3% 21.8% 0% 5% 10% 15% 20% 25% 30% Q1 15 Q1 16 EBITDA(MEUR) First-quarterEBITDAmarginimprovedto21.8%(20.3%) EBITDAMARGIN • First-quarter EBITDA margin improved to 21.8%(20.3%) of net sales • First-quarter EBITDA increased by 11.5% and amounted to 31.9 (28.6) MEUR 24 4/5/2016 Interim report Q1/2016 28.6 31.9 0 5 10 15 20 25 30 35 40 Q1 15 Q1 16
  • 25. GROSSPROFIT (MEUR)Q1 16 67.3% 67.4% 62.3% 63.4% 40% 45% 50% 55% 60% 65% 70% 75% Q1 2013 Q2 Q3 Q4 Q1 2014 Q2 Q3 Q4 Q1 2015 Q2 Q3 Q4 Q1 2016 87.6 92.6 0 20 40 60 80 100 120 Q1 15 Q1 16 GROSSMARGIN(%) Q1 16 • First–quarter gross margin increased to 63.4% (62.3%) as a result of good control of material and services costs • First-quarter gross profit increased by 5.7% to 92.6 (87.6) MEUR 25 Grossmarginimprovedslightlyinthefirstquarter 4/5/2016 Interim report Q1/2016
  • 26. FIXEDCOSTS (MEUR)AND% OF GROUP NETSALES Goodcontroloffixedcostsinthefirstquarter • First-quarter fixed costs 61.0 (59.6) MEUR or 41.8% (42.4%) of net sales • Employee benefit expenses 39.5 (37.8) MEUR • Other operating expenses 21.5 (21.9) MEUR • Rolling 12 months fixed costs amounted to 238.2 (237.0) MEUR or 37.2% (38.4%) of net sales • Rolling 12 months fixed costs excluding items affecting comparability amounted to 237.0 (232.8) MEUR or 37.0% (37.8%) of net sales 65.9 60.9 59.6 61.0 0% 5% 10% 15% 20% 25% 30% 35% 40% 45% 50% 0 10 20 30 40 50 60 70 80 Q1 2013 Q2 Q3 Q4 Q1 2014 Q2 Q3 Q4 Q1 2015 Q2 Q3 Q4 Q1 2016 26 4/5/2016 Interim report Q1/2016
  • 27. Finland 471 (487) Sweden 751 (760) Norway 406 (405) Denmark 139 (142) The Baltics 254 (242) E. Central 510 (481) Group administration 155 (91) CUSTOMERCENTRES31 MARCH2016 PERSONNEL31 MARCH2016 Optimisationofcustomercentrenetworkcontinuedinthe firstquarter Group: 2,685 (2,608) 53 (62) 44 (43) 55 (58) 78 (80) 13 (15) 41 (43) 27 4/5/2016 Interim report Q1/2016 8.8 6.5 0 2 4 6 8 10 12 14 16 Q1 15 Q1 16 WORK SAFETY (ACCIDENTSPER MILLIONWORKINGHOURS) Total number of customer centres at the end of the first quarter was 284 (301)
  • 28. EARNINGSPER SHARE EPSincreasedto0.02(-0.00) • Net financial items decreased to -1.7 (-2.2) MEUR in the first quarter • First-quarter EBT increased to 3.2 (-0.2) MEUR • Effective tax rate for the Group decreased to 20.0% (22.8%) • Result for the period amounted to 2.6 (-0.0) MEUR 28 0.10 0.02 0.02 0.00 0.02 0.04 0.06 0.08 0.10 0.12 0.14 0.16 0.18 0.20 Q1 2013 Q2 Q3 Q4 Q1 2014 Q2 Q3 Q4 Q1 2015 Q2 Q3 Q4 Q1 2016 4/5/2016 Interim report Q1/2016 (-0.00)
  • 29. CAPITAL EXPENDITUREEXCL. ACQUISITIONS(MEUR)AND % OF NETSALES Investmentsinmachineryandequipment increasedto supportgrowthinallbusinessareas • Q1 16 Gross capex 40.4 (18.1) MEUR or 27.7% (12.9%) of net sales • Q1 16 investments in machinery and equipment 35.1 (15.9) MEUR. No acquisitions in the first quarter 2016 nor in 2015. • Sales of used equipment amounted to 5.7 (5.2) MEUR • Committed investments in rental machinery 57.0 (42.7) MEUR at the end of the first quarter 29 4/5/2016 Interim report Q1/2016 29.0 22.0 15.9 35.1 0% 5% 10% 15% 20% 25% 30% 35% 40% 0 10 20 30 40 50 60 Q1 2013 Q2 Q3 Q4 Q1 2014 Q2 Q3 Q4 Q1 2015 Q2 Q3 Q4 Q1 2016 Capex excl. acquisitions Share of net sales-%
  • 30. CASHFLOWAFTER INVESTMENTS(MEUR) Operativecashflowincreasedinthefirstquarter,while cashflowafterinvestmentswasimpactedbyhighercapex • First–quarter cash flow from operations increased to 33.1 (18.3) MEUR • Cash flow from investing activities amounted to -39.9 (-17.4) MEUR in the first quarter • First-quarter cash flow after investments decreased to -6.8 (0.9) MEUR • Cash flow after investments mainly impacted by higher first- quarter capex 19.0 -5.1 0.9 -6.8 -30 -20 -10 0 10 20 30 40 Q1 2013 Q2 Q3 Q4 Q1 2014 Q2 Q3 Q4 Q1 2015 Q2 Q3 Q4 Q1 2016 30 4/5/2016 Interim report Q1/2016
  • 31. Returnoncapitalemployedimprovedslightlyinthefirst quarterof2016 RETURN ON CAPITAL EMPLOYED% 10.3% 10.7% 0% 2% 4% 6% 8% 10% 12% 14% 16% 18% Q1 15 Q1 16 • TheGroup's first-quartercapitalemployed increasedby 17.9% to613.6 (520.3) MEUR RETURN ON CAPITAL EMPLOYED% ANDCAPITAL EMPLOYED(MEUR) 31 4/5/2016 Interim report Q1/2016 • First-quarterROCEimproved to10.7% (10.3%) 16.0% 11.6% 10.3% 10.7% 0% 5% 10% 15% 20% 25% 0 100 200 300 400 500 600 700 Q1 2013 Q2 Q3 Q4 Q1 2014 Q2 Q3 Q4 Q1 2015 Q2 Q3 Q4 Q1 2016
  • 32. 18.8% 15.5% 4.0% 6.1% 15.0% 5.3% -20% -15% -10% -5% 0% 5% 10% 15% 20% 25% Finland Sweden Norway Denmark The Baltics Central Q1 15 Q2 15 Q3 15 Q4 15 Q1 16 RETURN ON CAPITAL EMPLOYED% (ROLLING12 MONTHS) ROCEcontinuedtoimproveinFinlandandDenmark 32 4/5/2016 Interim report Q1/2016
  • 33. Returnonequityaboveourlong-termfinancialtarget RETURN ON EQUITY% 9.7% 14.6% 0% 2% 4% 6% 8% 10% 12% 14% 16% 18% Q1 15 Q1 16 • TheGroup's totalequityamountedtoMEUR 280.4 (291.1) at theendofMarch2016 • Equityper share was2.60 (2.70) attheofendofthefirst quarter • Onarolling 12 monthsbasis Returnonequitywas14.6% (9.7%), whichwasslightlyabove long-termfinancial targetof12% perfiscalyear ROE % ANDTOTAL EQUITY(MEUR) 20.7% 13.6% 9.7% 14.6% 0% 5% 10% 15% 20% 25% 0 50 100 150 200 250 300 350 400 Q1 2013 Q2 Q3 Q4 Q1 2014 Q2 Q3 Q4 Q1 2015 Q2 Q3 Q4 Q1 2016 33 Financial target: Return on Equity of 12% per fiscal year 4/5/2016 Interim report Q1/2016
  • 35. NetdebttoEBITDAratioclearlybelowourlong-term financialtarget NETDEBT (MEUR) • NetdebttoEBITDA ratiowas 1.7x(1.4x)at theendofthe firstquarter,whichwasbelow Ramirent’s long-term financialtargetofmaximum 2.5xattheendofeachfiscal year • Netdebtincreased compared tothepreviousyear amountingto287.9(226.2) MEUR NETDEBT TO EBITDARATIO 1.2x 1.0x 1.2x 1.4x 1.7x 0.0 0.5 1.0 1.5 2.0 2.5 3.0 Q1 2012 Q2 Q3 Q4 Q1 2013 Q2 Q3 Q4 Q1 2014 Q2 Q3 Q4 Q1 2015 Q2 Q3 Q4 Q1 2016 35 Financial target: Net debt to EBITDA below 2.5x at the end of each fiscal year 4/5/2016 Interim report Q1/2016 220.3 212.0 226.2 287.9 0 50 100 150 200 250 300 350 Q1 2013 Q2 Q3 Q4 Q1 2014 Q2 Q3 Q4 Q1 2015 Q2 Q3 Q4 Q1 2016
  • 36. Netdebtincreasedmainlyduetoincreasednetcapex comparedtothepreviousyear CHANGEINNETDEBT Q1 15 – Q1 16 (MEUR) 36 4/5/2016 Interim report Q1/2016 226.2 287.9 166.2 3.6 9.6 13.7 165.1 43.1 0 50 100 150 200 250 300 Net debt Q1 15 Adjusted EBITDA Change in Working Capital Net paid interest Paid taxes Net capex Dividends Net debt Q1 16
  • 37. Fixed 50% Floating 50% • Total loan portfolio (interest-bearing liabilities) 333.2 (229.2) MEUR at the end of the first quarter • First-quarter non- current interest-bearing liabilities amounted to 188.1 (188.0) MEUR • Current interest-bearing liabilities 145.2 (41.2) MEUR at the end of the first quarter • Domestic commerical paper programme increased from 150 MEUR to 250 MEUR Ramirentincreaseditsdomesticcommercialpaper programmeto250MEUR Loans from financial institu- tions 27% Bond 30% Com- mercial papers 43% INTEREST-BEARINGLIABILITIESQ1 16 INTERESTRATES TYPE Q1 16 37 4/5/2016 Interim report Q1/2016
  • 38. REPAYMENTSCHEDULEOF INTEREST-BEARINGLIABILITES(MEUR) Attheendofthefirstquarter,Ramirenthadunused committedback–uploanfacilitiesofEUR127.3 • Ramirent had unused committed back-up loan facilities of 127.3 (189.0) MEUR available at the end of the first quarter • First-quarter average interest rate of the loan portfolio including interest rate hedges was 2.2% (3.0%) • In addition to bank facilities, Ramirent is utilising a domestic commercial paper programme of up to 250 MEUR 75 95 100 145 2016 2017 2018 2019 2020 Net debt EUR 287.9 million EUR 415.0 million in committed credit facilities 38 4/5/2016 Interim report Q1/2016
  • 40. 4/5/2016 Interim report Q1/201640 Appendix
  • 41. • Ramirentisa leadingequipmentrental solutionsgroupoperatingin 10countrieswith2015net salesof EUR636million • Ramirent’smissionistocombinethebestequipment,servicesand know-howintorentalsolutionsthatsimplifycustomer’sbusiness • Ramirentservesa broadrange ofcustomersectorsincluding construction,industry,services,thepublicsectorand households • Ramirenthas2,685employeesoperatingfrom284customer centres • Ramirentwasfoundedin1955and islistedon theNASDAQHelsinki (RMR1V) Ramirent is a leading equipment rental solutions group serving a large customer base Russia and Ukraine presence through JV Fortrent JV Fehmarnbelt Solutions Services A/S, with Zeppelin Rental NET SALES PERSEGMENT Q116 NET SALES BY CUSTOMER SECTOR Q116 NET SALES BY BUSINESS AREAQ116 Finland 26% Sweden 36% Norway 19% Denmark 7% Europe East – Baltics 4% Europe Central 8% Construction 51% Industrial 19% Services & Retail 23% Public 3% Other 4% Private 1% General Rental 63% Solutions 32% Temporary Space 5% 41 4/5/2016 Interim report Q1/2016
  • 42. 42 Steel nail shop Rakennusmies founded Equipment rental business started JV in Moscow, Russia Enter Estonia MBO by key personnel and capital investors Enter Lithuania Listed on the Helsinki Stock Exchange Enter Poland Enter Slovakia 19831955 1988 1994 1995 1996 1997 1998 2000 2001 2002 2003 2004 2006 20132008 Acquires Bautas in Norway Acquires Altima in Sweden Fortrent JV with Cramo in Russia and Ukraine Acquired by the Partek group and renamed A-rakennusmies Enter Latvia Renamed Ramirent Greenfield entry to Czech RepublicJV in Ukraine and greenfield entry to Hungary Exit Hungary 2014-2015 Bolt-on acquisitions in the Nordics More than sixty years of knowledge and experience 4/5/2016 Interim report Q1/2016
  • 43. 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 Planning On-site services Logistics Merchandise sale Rental insurance Training Benefits Lighter balance sheets, less investments 43 Benefits Understanding client requirements helps to customise product and service selection and further improve productivity Heavy Equipment Access Equipment Lifts, Hoists, Scaffolding, Tower cranes Modules and site equipment Light Equipment Tools, power and heating equipment Integrated rental Solutions Benefits Easy to buy, reduced number of subcontractors, increased focus on the core business Ramirent's offering stretches from single equipment rental to solutions 4/5/2016 Interim report Q1/2016
  • 44. We continue to pursue sustainable profitable growth through five strategic focus themes Customer facing Internal 44 4/5/2016 Interim report Q1/2016
  • 45. CHARACTERISTICS • Localbusiness,where Ramirentprovidesequipment andservices • Highergrossmargin,butmust carryfixedcostsofthe customercentrenetwork • Highershareofequipment rental • Focusonserviceleveland efficiency Interim report Q1/2016 CHARACTERISTICS • Largerprojects,where Ramirentisinvolvedearlyin theprocess • Lowergrossmargin,with moresubcontractedservices • Moreserviceintenseandless employedcapital • Focusonturn-keysolutions andknow-how CHARACTERISTICS • Longrentalcontracts • Ramirentprovidesmodules foraccommodation,offices, schools&healthcare • Highmarginsbutcapital intense • Stablecashflowprofile Ramirent targets sustainable profitable growth by developing the business mix 45 4/5/2016 Business areas with different characteristicsand risk profiles Share of Group sales
  • 46. Ramirent targets a business mix that balances growth opportunities, profitability and risk GROUP NET SALES SPLIT BY BUSINESS AREA Q1 16 46 Interim report Q1/20164/5/2016 Temporary Space 5% General Rental 63% Solutions 32%
  • 47. Ramirent can generate growth in multiple ways Ramirent seeks growth from five different sources New customer segments New geographies Bolt-on acquisitions Capturing outsourcing opportunities in construction sector Increasing services, customer project coordination and solutions Grow with new customers Increased share- of-wallet with current customers Strategic transactions 47 Capturing outsourcing opportunities in other sectors 4/5/2016 Interim report Q1/2016
  • 48. Strategy summary The leading and most progressive equipment rental solutions company • Annual net sales growth > GDP+2 %-points • Return on Equity (ROE) 12% per fiscal year • Net debt/EBITDA < 2.5x at the end of each fiscal year • Dividend pay-out ratio at least 40% of net profit More than machines Open, engaged, and progressive Sustainable profitable growth 48 4/5/2016 Interim report Q1/2016
  • 49. Q12016Keyfigures 49 4/5/2016 KEY FIGURES (MEUR and %) 1−3/16 1−3/15 Change 1−12/15 Net sales 146.0 140.6 635.6 EBITDA 31.9 28.6 168.1 % of net sales 21.8% 20.3% 26.4% EBITA 7.2 4.1 66.8 % of net sales 5.0% 2.9% 10.5% EBIT 4.8 2.0 57.9 % of net sales 3.3% 1.4% 9.1% Net profit 2.6 −0.0 39.0 Earnings per share (EPS), (basic and diluted), EUR 0.02 −0.00 0.36 Gross capital expenditure on non-current assets 40.4 18.1 139.2 Cash flow after investments −6.8 0.9 −6.3 Return on capital employed (ROCE), %1) 10.7% 10.3% 10.0% Return on equity (ROE),%1) 14.6% 9.7% 12.1% Net debt 287.9 226.2 280.9 Net debt to EBITDA ratio1) 1.7x 1.4x 1.7x Gearing,% 102.7% 77.7% 88.0% Equity ratio,% 33.9% 38.6% 41.4% 1) Rolling 12 months Interim report Q1/2016
  • 50. Returnoninvestmentimprovedslightlyinthefirstquarter RETURN ON INVESTMENT% 9.7% 10.8% 0% 2% 4% 6% 8% 10% 12% 14% 16% 18% Q1 15 Q1 16 • TheGroup'sinvestedcapitalincreasedby17.9%to613.6 (520.3)MEURduetoinvestmentsintherentalfleettocapture growthopportunitiesingrowingbusinessareas • Comparisonfiguresadjustedaccordingly RETURN ON INVESTMENT% AND INVESTEDCAPITAL (MEUR) 16.6% 11.2% 9.7% 10.8% 0% 5% 10% 15% 20% 25% 0 100 200 300 400 500 600 700 Q1 2013 Q2 Q3 Q4 Q1 2014 Q2 Q3 Q4 Q1 2015 Q2 Q3 Q4 Q1 2016 50 4/5/2016 Interim report Q1/2016 • Withthenew formula,first-quarterROIwas 10.8% (9.7%)
  • 51. CalculationofReturnoninvestments(ROI%)hasbeen changedfromthebeginningof2016 51 4/5/2016 Interim report Q1/2016 12.9% -249 basis points 40 basis points 10.8% 0% 2% 4% 6% 8% 10% 12% 14% 16% ROI Q1 15 (old) Change in calculation Profitability improvement ROI Q1 16 (new) • In the new Return on investment (ROI) calculation, exchange rates are excluded from the nominator in the formula • The comparative information is adjusted accordingly in the first quarter report • First-quarter 2016 ROI % with the new formula was 10.8% (9.7%) • Change in calculation decreased ROI by 249 bps, while improved profitability had a positive impact of 40 bps to the ROI RETURN ON INVESTMENT(ROI %) BRIDGEQ1 15 – Q1 16 New ROI = 𝑅𝑒𝑠𝑢𝑙𝑡 𝑏𝑒𝑓𝑜𝑟𝑒 𝑡𝑎𝑥𝑒𝑠+𝑖𝑛𝑡𝑒𝑟𝑒𝑠𝑡 𝑎𝑛𝑑 𝑜𝑡ℎ𝑒𝑟 𝑓𝑖𝑛𝑎𝑛𝑐𝑖𝑎𝑙 𝑒𝑥𝑝𝑒𝑛𝑠𝑒𝑠 𝑒𝑥𝑐𝑙𝑢𝑑𝑖𝑛𝑔 𝑓𝑥. 𝑑𝑖𝑓𝑓𝑒𝑟𝑒𝑛𝑐𝑒𝑠 𝑇𝑜𝑡𝑎𝑙 𝑎𝑠𝑠𝑒𝑠𝑡 −𝑖𝑛𝑡𝑒𝑟𝑒𝑠𝑡 𝑏𝑒𝑎𝑟𝑖𝑛𝑔 𝑙𝑖𝑎𝑏𝑖𝑙𝑖𝑡𝑖𝑒𝑠 (𝑎𝑣𝑒𝑟𝑎𝑔𝑒 𝑜𝑣𝑒𝑟 𝑡ℎ𝑒 𝑓𝑖𝑛𝑎𝑛𝑐𝑖𝑎𝑙 𝑝𝑒𝑟𝑟𝑖𝑜𝑑) ∗ 100%Old ROI = 𝑅𝑒𝑠𝑢𝑙𝑡 𝑏𝑒𝑓𝑜𝑟𝑒 𝑡𝑎𝑥𝑒𝑠+𝑖𝑛𝑡𝑒𝑟𝑒𝑠𝑡 𝑎𝑛𝑑 𝑜𝑡ℎ𝑒𝑟 𝑓𝑖𝑛𝑎𝑛𝑐𝑖𝑎𝑙 𝑒𝑥𝑝𝑒𝑛𝑠𝑒𝑠 𝑇𝑜𝑡𝑎𝑙 𝑎𝑠𝑠𝑒𝑠𝑡 −𝑖𝑛𝑡𝑒𝑟𝑒𝑠𝑡 𝑏𝑒𝑎𝑟𝑖𝑛𝑔 𝑙𝑖𝑎𝑏𝑖𝑙𝑖𝑡𝑖𝑒𝑠 (𝑎𝑣𝑒𝑟𝑎𝑔𝑒 𝑜𝑣𝑒𝑟 𝑡ℎ𝑒 𝑓𝑖𝑛𝑎𝑛𝑐𝑖𝑎𝑙 𝑝𝑒𝑟𝑟𝑖𝑜𝑑) ∗ 100%
  • 52. Ramirent‘s largest shareholders at the end of March 2016 TRADING INFORMATION Listing: NASDAQ HELSINKI Segment: Mid Cap Sector: Industrials Trading code: RMR1V SHARE INFORMATION Q1 16 Closing price 5.75 (6.61) Highest 6.41 (7.45) Lowest 5.05 (6.35) VWAP* 5.86 (6.99) At the end of March 2016 a total of 52.1% (51.2%) of the company’s shares were owned by nominee- registered and non-Finnish investors 52 LARGESTSHAREHOLDERS31 MARCH2016 Largest shareholders Number of shares % of share capital 1. Nordstjernan AB 27,513,716 25.31% 2. Oy Julius Tallberg Ab 12,207,229 11.23% 3. Nordea funds 5,384,915 4.95% 4. Varma Mutual Pension Insurance Company 3,640,865 3.35% 5. Ilmarinen Mutual Pension Insurance Company 3,445,154 3.17% 6. Aktia funds 2,055,558 1.89% 7. Ramirent Plc 948,014 0.87% 8. Pensionsförsäkringsaktiebolaget Veritas 708,353 0.65% 9. Föreningen Konstsamfundet R.f 593,500 0.55% 10. The State Pension Fund 532,000 0.49% Subtotal 10 largest shareholders 57,029,304 52.47% Other shareholders 51,668,024 47.53% Total number of shares 108,697,328 100.00% *VWAP = Volume weighted average trading price 4/5/2016 Interim report Q1/2016
  • 53. Ramirent's share price development in 2016 53 INDEX 4/5/2016 Interim report Q1/2016 70 80 90 100 110 Ramirent OMX Helsinki OMX Helsinki Mid Cap