Capital Market Day 2008 Ramirent Europe

1 27 May, 2008 CMD © Ramirent

Capital Market Day 2008Ramirent Europe

Timo Korhonen, Director, Ramirent Europe

2 27 May, 2008 CMD © 2008 Ramirent

Ramirent EuropeStrategic milestones

Joint venture in Moscow 1988

St.Petersburg and Tallinn 1993

Ramirent Europe founded 1997

Ukraine 2005Hungary 2003Acquisition of

minority shares 2004

Poland 2000

Slovakia 2008Czech Republic

2006

Latvia 1997

Lithuania 1998


Profitable growth

Risk management

General rental company

Local business

Group strength

Strategic goals of Ramirent Europe


Market position and competition

Market leader in Centraland Eastern Europe

Fastest growing rentalcompany

Few general rentalcompanies, but strongspecialised competitors

Competition favours the rental industry


Ramirent Europe Oy

East Central

Estonia

Latvia

Lithuania

Ukraine

Russia

Poland

Czech

Hungary

Slovakia

Ramirent EuropeOrganisation


Q&A


Capital Market Day 2008Europe East

Vambola Juurmann, Director, Europe East

8 27 May, 2008 CMD © 2008 Ramirent8 27 May, 2008 CMD © 2008 Ramirent

Ramirent Europe EastOverview

5 countries: Estonia, Latvia, Lithuania, Ukraine, Russia

Part of Group EBIT 14 %

Part of Group Sales 12 %

52

Outlets

1

Market Position

67693.7Europe East

EmployeesR12 Sales 3/2008Segments

Q1 08 Q1 08


Europe EastOverview of product offering

Heavy Equipment

Light Equipment

Scaffolding

Lifts and Hoists

Tower cranes

×

Modules

Power and Heating

Formworks

One of the widest product offering in the region


Europe EastSales by customer group

Renting accounts for 80% of total sales

Constructioncompanies,incl.infrastructureIndustry

Public

Households

Other


Ramirent in Estonia

Key facts 2007e 2008e 2009e 2010e

GDP (growth %) 7.1 3.7 6.4 6.8

Inflation % 6.6 9.0 5.3 3.7

Population (’000s) 1340 1337 1334 1331

Change % Construction output (2006: 2,350 MEUR) 13.0 2.0 8.0 8.0

Unemployment rate 4.7 5.1 5.5 5.5

Market environment• Stable political situation• High inflation• Cooling economy, growth supported by EU funding

Source: Bank of Estonia, Statistics department of Estonia, Euroconstruct

Start of operations in 199314 outlets

Number 2 market position in Estonia


EstoniaLatest developments

Reduction of capex for 2008

Transfer of some equipment

Long-term prospects remainfavourable in the market

Market trendsConstruction market has peaked and is slowing down

Penetration level will increase slightly

Price competition

Decrease of demand for scaffolding

Two biggest players (Ramirent + Cramo) account for 50% of the rental market capacity

Small company start-ups increasing


Ramirent in Latvia

Key facts 2007e

2008e 2009e 2010e

GDP (growth %) 10.5 7.5 7.0 6.8

Inflation % 14.0 12.5 7.2 4.9

Population (’000s) 2272 2260 2250 2240

Change % Constructionoutput (2006: 2,150 MEUR) 16.0 6.0 5.0 8.0


Market environment• Stable political situation• High inflation• Cooling economy, growth supported by EU funding• Low unemployment level• Slowdown in the residential housing sector

Source: Bank of Latvia, Statistics department of Latvia, Euroconstruct

Operations started in 199717 outlets Market leader in Latvia


LatviaLatest developments

Merger of SIA Ramirent and SIA Ramiteh owned 100% by Ramirent Europe Group

New central outlet completed

Transfer of some equipmentto other countries


Latvia Customer case

Cooperation with K-Rauta in Latvia ”Shop-in-shop concept”


Ramirent in Lithuania

Key facts 2007e 2008e 2009e 2010e

GDP (growth %) 8.8 7.5 6.3 5.2

Inflation % 5.8 5.6 5.1 3.6

Population (’000s) 3365 3361 3360 3360

Change % Construction output (2006: 2,600 MEUR) 19.0 8.0 7.0 5.0


Market environment• Stable political situation• Growth considerably above European average• Considerable foreign investment activities• Cooling economy, growth supported by EU funding• Growing construction market

Source: Bank of Lithuania, Statistics department of Lithuania, Euroconstruct

Operations started in 199812 outlets

Market leader in Lithuania


Increasing activities in LithuaniaIndustrial construction activities in Klaipeda


Exhibition Resta 2007, Lithuania


Lithuania customer case: Lithuania Parliament House construction


Baltic countriesCompetitive scene

43Formworks, scaffolding

Peri

Company Equipmenttype

Depotnetwork

Market position

Ramirent General rental 39 1

Cramo General rental 38 2

Pekkaniska Mobile cranes,lifts

11 3

Doka Formworks 3 5

Rest Some 100 smallcompanies

~1 -


Ramirent in Russia

Operations started in 1988

6 outlets (3 St. Petersburg, 3 Moscow)

Strong market position in St. Petersburg and Moscow

Rental customers also outside St. Petersburg and Moscow area


RussiaMarket environment

Key facts 2007 2008e 2009e 2010e

GDP 8.8 6.1 5.7 5.8

Inflation 9.0 10.0 8.5 7.5

Population (million`s) 142,0 141,0 140,0 139,0

Change % Construction output (2006: 65,000 MEUR) 8.0 7.0 n/a n/a


Growth considerably above European averageConsiderable foreign investments Stable economic developmentGrowing construction market

Source: Ministry for Economical Development of Russian Federation,Euroconstruct


RussiaKey market trendsRental market

The rental business is still undeveloped

Rental companies operate only in big cities

Few big rental companies on the market of St. Petersburg

Increase of demand for one-stop-shop rental offering of equipment

Penetration is increasing

Construction marketStrong demand in the construction market

Construction companies also offer their fleet for rent to other constructors


St. PetersburgCompetitive scene

Company Equipment type Outletnetwork

*) Market position

Ramirent (FI) General rental 3 1

Cramo (FI) General rental 2 2

LSR (RU) Tower cranes 1 1

Omega (RU) General rental 1 3

Pekkaniska (FI) Lifts, mobile cranes 1 4

*) Management estimate


St. PetersburgCustomer case

Building site in St. Petersburg on Dimitrovastreet


MoscowCompetitive scene

Company Equipment type Outlet network *)Market position

Rentakran (RU) Tower cranes, mobile cranes 1 1

UVN Technika (RU) Tower cranes, rack & pinion, mobile cranes

1 2


Novelec (RU) Power & lightning equipment 14

Pekkaniska (FI) Lifts, mobile cranes 1 5

Cramo Rentakran (entryphase)

Rack & pinion, lifts 3 -



RussiaLatest developments

New outlet in St.Peterburg

opened in 2008

New Outlet for lifts in Leshkovo,

Moscow opened

Dealership in Novgorod

First contract received from

Sosnovyi Bor nuclear power

plant


Ramirent in Ukraine

Operations started in 20033 outlets (2 Kiev,1 Donetsk) Strong market position


UkraineMarket environment

Key facts 2007 2008e 2009e 2010e

GDP 16.0 17.0 18.0 17.0

Inflation 7.5 8.0 9.0 9.5

Population (million`s) 47.0 46.5 46.0 45.5

Change % Construction output (2006: 7.2 MEUR) 7.0 5.0 n/a n/a


Growth considerably above European averageConsiderable foreign investment activitiesFavourable labour conditions

Source: Euroconstruct


UkraineKey market trends

Rental marketRental market is not developed in Ukraine yetPenetration level is increasingRental companies operate only in big citiesIncreased demand for one-stop-shop rental offering

Construction marketConstruction market is growing

– High demand for business premise and warehouse construction

Most construction companies have their own fleetsConstruction companies replacing outdated existing fleetOutsourcing is increasing


UkraineKey market trends

Availability of modern real estate facilities by type, sq.m

-

500 000

1 000 000

1 500 000

2 000 000

2 500 000

3 000 000

Office Warehouse Retail

Kiev

Warsaw

Prague

Budapest

Sq.m

.

Source: Colliers International and Business Monitor International

Availability of modern real estate facilities 2-3 times behindCentral Europe depending on type of property


UkraineCompetitive scene

Company Equipment type Outletnetwork

*) Market position


Pekkaniska (FI) Mobile cranes,lifts 2 2

Rental center (UA) General rental 5 3

United-Hertz (US)

Limited equipment range 2 4

Dalmex (RU) Light equipment 1 -



UkraineLatest developments

Large generators,

scaffolding and modules

added to product offering

Second outlet in Kiev

opened in Feb, 2008


Summary Europe East

Strong demand in the construction markets in Russia and Ukraine

Increasing rental penetration in Lithuania, Russia and Ukraine

Increased equipment usage

Monitoring suitable acquisitions to support profitable growth

Expanding the product portfolio

Entry into new areas in Russia under review

Expanding further in Moscow and St. Peterburg

Expanding into new regions in Ukraine


Q&A

36 27 May, 2008 CMD © Ramirent36 27 May, 2008 CMD © Ramirent36 27 May, 2008 CMD © Ramirent

Capital Market Day 2008Europe Central

Tomasz Walawender, Director, Europe Central

37 27 May, 2008 CMD © 2008 Ramirent37 27 May, 2008 CMD © 2008 Ramirent37 27 May, 2008 CMD © 2008 Ramirent

Ramirent Europe Central Overview

Part of Group Sales10 %

Part of Group EBIT

5 %

199100062.5Europe Central

Outlets Market PositionEmployeesR12 Sales 3/2008Segments

4 countries: Poland, Czech Republic, Slovakia and Hungary

Q1 08 Q1 08


Europe Central Overview of product offering

Heavy Equipment

Light Equipment

Scaffolding

Lifts and Hoists

Tower Cranes

×

Modules

Power and Heating

Formworks

×

Balanced split of revenues between product groups


Europe Central Sales by customer group

HouseholdsPublicInfrastructureConstruction companiesIndustry

Major part of sales generated in the sectors of infrastructure, industry and construction companies


* For comparison local currencies have been converted into euro using the same fix rate in all periods

0

10 000

20 000

30 000

40 000

50 000

60 000

70 000

1998 1999 2000 2001 2002 2003 2004 2005 2006 20070

10

20

30

40

50

60

70

Construction volume Ramirent Central Europe revenues

Europe Central salesvs. construction output development

MEU

RGrowing construction markets Increasing rental penetration

Europe Central 2007 2008e 2009e 2010e

Construction volume, EUR bn

60.3 9.5% 72.6 79.3

Source: PMR Research, GUS, Euroconstruct, Hungarian State Statistics Agency


Europe CentralCompetitive scene

Company Equipment type Outlet network Market position

Ramirent General rental 99 outlets in Poland, Czech, Slovakia and Hungary

1

Cramo General rental 14 outlets in Poland, Czech Republic and Slovakia

2

Peri Formworks and scaffolding

Large activity in Poland and Czech Republic, Slovakia

(1 in formworks)

Cat Rental store Heavy machinery Activity in Poland (BM), Czech (Phoenix Zeppelin), Slovakia (Phoenix Zeppelin) and Hungary (Huntraco)

4


Ramirent in Poland

Operations started in 200042 outletsMarket leader in scaffolding, machinery andequipment rentals for construction and industry

Market environment• Stable economic growth • High construction market growth• Increased competition as “everyone” wants to

be in the market

Key facts 2007 2008e 2009e 2010e

GDP (growth %) 6.5 5.0 4.5 5.0

Inflation % 2.5 3.8 3.5 3.0

Population (million) 38 38 38 38

Construction output (EUR billion) 28 32 37 41

Source: PMR Research, GUS, Euroconstruct


Customer caseBridgestoneConstruction of a new EUR 200 million radial truckand bus tyre plant

Constructed by Polimex-Mostostal

Scheduled for completion in 2009

Equipment from Ramirent:• small construction equipment such as hand

tools, pumps, vibrating plates and compressors

• heavy equipment like lighting towers, telescopic handlers or drum rollers

• aluminum towers


Customer case

Building of Malta shopping mall in Poznan

Name of construction company: Erbud

Investment started in May 2007 and is to be completed in Q4 2008

Shopping/total area: 52/153 thousands square meters; more than 200 shops, cinema, fitness, restaurants

Equipment from Ramirent:• concrete equipment and other general equipment

• lifts

• modules


Ramirent inCzech Republic

Founded 20063 outlets

Market environment• Low rental penetration• Fast development of construction output

expected

Key facts 2007 2008e 2009e 2010e

GDP (growth %) 6.5 4.1 4.6 4.5

Inflation % 2.3 5.3 2.4 2.5



Source: PMR Research, GUS, Euroconstruct


Customer case

Geosan – building of offices

Investment to be completed in Q4 2008

Total value of investments appx. EUR 115 millions

Equipment from Ramirent:• 8 building hoists GEDA 1500Z/ZP (height to 50m;

security equipment included)

• Total expected revenues: ca EUR 250k


Ramirent in Hungary

Greenfield start-up in 2003Acquisition of market leader in 200418 outlets

Market environment• Slowdown in economy with shrinking

construction output

Key facts 2007 2008e 2009e 2010e

GDP (growth %) 1.3 2.4 4.0 4.1

Inflation % 7.9 5.9 3.0 2.9



Source: Hungarian State Statistics Agency


Customer case

Prologis

Investment to be completed in 2008

Huge logistics center in the middle of the country

Equipment from Ramirent:• Heavy equipment

• Lifts and platforms

• Light equipment


Ramirent in Slovakia

Key facts 2007 2008e 2009e 2010e

GDP (growth %) 8.8 6.8 5.8 5.0

Inflation % 2.4 2.0 2.5 2.4

Population (million) 5.4 5.4 5.4 5.4


Acquisition of 60% in market leader OTS Bratislava 1/2008

36 outlets (of which half franchised)

Market environment• Stable political situation• Expected to join the Euro 1.1.2009• Growth considerably above European average• Considerable foreign investment activities• Favourable labour conditions• Growth supported by EU funding

Source: Euroconstruct


Opportunities for Ramirentin Slovakia

Integrating to the Ramirent Brand-family

Increasing capacity

Committed management with long experience of the rental business

Large potential for developing the Slovak rental market through Ramirent’scomplementary product ranges

Stronger rental focus to drive profitability improvement

Operational synergies with neighbouringRamirent countries


Summary Europe Central

Total rental market in 2007 was MEUR 359– Average growth of rental market until 2010 is estimated at 22.5%

Extensive outlet network covering the region– 99 outlets including project and franchised outlets.

Wide product portfolio

Diversified portfolio of clients

Further expansion in the region

Entry into new markets


High potential in Russia

High potential in Ukraine

Strong market in Poland

Good markets in Czech Republic and Slovakia

Potential new markets in Romania and Bulgaria

Possibilities in Slovenia and Croatia

Potential to develop product offering

Potential in new customer groups and outsourcing

Rental penetration increasing

Ramirent EuropeKey opportunities

Capital Market Day 2008 Ramirent Europe

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