2. Q2/11: Profitability improving
APRIL – JUNE 2011
Net sales up 16.1% MEUR 149.5
(128.7) or 13.7 % at comparable
exchange rates
EBITDA MEUR 40.6 (30.7)
EBITDA-margin 27.2% (23.9%)
EBIT MEUR 15.4 (7.4)
EBIT-margin 10.3% (5.8%)
Gross capex MEUR 44.6 (21.7)
Cash flow after investments
MEUR -20.4 (13.4)
Number of outlets 399 (353)
Acquisitions made in Norway,
Sweden, Finland and Czech
Republic
2
3. Highlights H1/11
JANUARY – JUNE 2011
Net sales up 18.1% MEUR 283.9
(240.3) or 14.4 % at comparable
exchange rates
EBITDA MEUR 68.2 (48.3)
EBITDA-margin 24.0% (20.1%)
EBIT MEUR 18.1 (1.9)
EBIT-margin 6.4% (0.8%)
Gross capex MEUR 76.5 (34.2)
Cash flow after investments
MEUR -31.1 (9.4)
Net debt MEUR 238.2 (209.3)
Gearing 80.4% (70.6%)
3
4. Market and Ramirent outlook
as of 12 August 2011
Market outlook 2011 Ramirent Outlook 2011
Overall, the new residential, Ramirent reiterates its outlook for
infrastructure and renovation 2011. As a result of increased
construction markets are expected construction activity and improving
to develop favourably, especially in price levels, net sales are expected
the Nordic countries, while demand to increase in 2011, and the result
for commercial construction before taxes is expected to improve
remains weak. Taking this into compared to 2010.
account, Ramirent expects the
recovery in its markets to continue.
Also, the improved balance
between supply and demand
indicates a healthier price level.
However, due to the current
financial turmoil, market risks have
increased. Ramirent maintains a
cautious stance since uncertainties
in the macroeconomic development
persist.
4
5. Five new acquisitions signed in Q2/11
Outsourcing deal
Outsourcing deal
Acquisition of rental business
Outsourcing deal
Outsourcing deal with two
Lemminkäinen subsidiaries Acquisition of
Acquisition of
rental business
rental business
End of 2010 2011
2009
Some 50
companies
Acquisition of
Acquisition of Acquisition of rental business monitored
rental business rental business on our
target list
Acquisition of
Outsourcing deal rental business
Aquisition of rental
business
5
6. Acquisition of high-class module specialist
Rogaland Planbygg AS
Major acquisition for Ramirent Norway
Estimated annual sales of MEUR 22
In effect from 1 July 2011
Founded in 1997; based in Tananger,
south of Stavanger
Focused on high class rental
accommodation and office modules
Key customer sectors: Oil & Gas
Industry, public sector (kindergardens
and schools)
6
7. Acquisition of Hyrman i Lund AB
One of the largest acquisitions for
Ramirent Sweden
Estimated annual sales of MEUR 15
In effect from 1 August 2011
Founded in 2000, leading player in
southern Sweden with 7 outlets
Operations in the highly active
regions of Skåne and Halland
Key customer sectors: construction,
civil engineering and industrial
sectors
7
8. Outlet network expanded
Number of outlets all
time high at 399 (353)
(excl. acquisitions of Rogaland
Planbygg in Norway and Hyrman
in Sweden)
Local head office
Outlet
Re-renting
agents
8
9. Key strategic objectives
Sustainable profitable growth
Accelerate growth with acquisitions and outsourcing deals
Evaluate entry into new markets
Strengthen local offerings and develop solution concepts
Operational excellence
Develop a common “Ramirent platform”
Develop group wide IT platform and realize synergies
Maintain strong focus on cost efficiency
Balanced risk level
Diversified portfolios of customers, products and markets
Continuous employee competence development
A strong financial position
9
11. Q2 2011 Finland
Highlights Historic financial performance
MEUR
Main growth driver was residential
45 41 20 %
construction, while growth was 38 37
40 36 35
slowed down by lower activity in 34 15 %
35 31 30
shipyards, industrial maintenance 29 28
30
and in the private household sector 10 %
25
20
5%
Profitability improved based on 15
higher utilisation levels and 10 0%
improving pricing environment 5
0 -5 %
Ramirent Finland Oy acquired the Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2
shares of Finnish weather 2009 2010 2011
protection company Suomen Net sales EBIT-%
Sääsuoja Oy
Q2 January - June Full
Year
Finland 2011 2010 Change Change 2011 2010 Change Change 2010
(EUR) (Local) (EUR) (Local)
Net sales, MEUR 36.5 36.1 1% 1% 66.8 64.2 4% 4% 136.9
EBIT, MEUR 4.7 4.0 18 % 6.1 3.8 60 % 13.7
EBIT-margin 12.9 % 11.1 % 9.1 % 5.9 % 10.0%
Employees 633 641 -1 % 603
Outlets 85 83 2% 84
11
12. Q2 2011 Sweden
Highlights Historic financial performance
MEUR
Growth was driven by the civil
50 45 25 %
engineering, public and housing 41 42
sectors. Geographically, growth 40 36 20 %
35
was driven by Stockholm and its 32 33 31 32
29
surrounding areas as well as 30 15 %
southern regions of the country
Profitability improved based on 20 10 %
higher capacity utilisation, but is
10 5%
still burdened by low price levels
Ramirent signed an agreement to 0 0%
acquire Hyrman i Lund AB with Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2
seven outlets in Southern 2009 2010 2011
Sweden contributing to annual
Net sales EBIT-%
net sales with about MEUR 15
Q2 January - June Full
Year
Sweden 2011 2010 Change Change 2011 2010 Change Change 2010
(EUR) (Local) (EUR) (Local)
Net sales, MEUR 42.1 34.9 21 % 13 % 83.4 64.2 30 % 18 % 145.2
EBIT, MEUR 7.0 5.0 38 % 13.1 7.6 72 % 23.3
EBIT-margin 16.5 % 14.4 % 15.7 % 11.8 % 16.1 %
Employees 563 540 4% 546
Outlets 73 69 6% 73
12
13. Q2 2011 Norway
Highlights Historic financial performance
MEUR
Growth driven by construction
35 33 16 %
especially in the western and 29 29 28
31 30
14 %
27 28
northern parts of Norway 30
25
27 12 %
Profitability still low, but 25 10 %
measures have been taken to 20 8%
improve efficiency in the outlet 6%
15
network and for increasing price 4%
levels 10 2%
0%
New nationwide cooperation 5
-2 %
agreement with Veidekke 0 -4 %
Ramirent signed an agreement to Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2
acquire Rogaland Planbygg AS 2009 2010 2011
contributing to annual net sales Net sales EBIT-%
with approximately MEUR 22
Q2 January - June Full
Year
Norway 2011 2010 Change Change 2011 2010 Change Change 2010
(EUR) (Local) (EUR) (Local)
Net sales, MEUR 30.5 27.4 11 % 10 % 63.1 55.7 13 % 11 % 114.4
EBIT, MEUR 2.4 1.0 134 % 2.8 0.6 383 % 2.3
EBIT-margin 7.9 % 3.7 % 4.4 % 1.0 % 2.0 %
Employees 518 519 0% 503
Outlets 43 38 13 % 42
13
14. Q2 2011 Denmark
Highlights Historic financial performance
MEUR
Market conditions improved
14 10 %
further during the second 12
quarter, but profitability is still 12 11 11 0%
10 10 10
burdened by low price levels 10 9 9
8
8 -10 %
8
Focus remained on cost control -20 %
6
and measures to restore -30 %
healthier pricing levels as 4
utilisation levels are improving 2 -40 %
0 -50 %
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2
2009 2010 2011
Net sales EBIT-%
Q2 January - June Full
Year
Denmark 2011 2010 Change Change 2011 2010 Change Change 2010
(EUR) (Local) (EUR) (Local)
Net sales, MEUR 9.9 9.0 10 % 10 % 18.2 17.1 7% 7% 35.6
EBIT, MEUR -0.3 -0.7 N/A -1.5 -1.3 N/A -2.2
EBIT-margin -2.9 % -7.4 % -8.4 % -7.6 % -6.2 %
Employees 160 148 8% 160
Outlets 21 20 5% 20
14
15. Q2 2011 Europe East
Highlights Historic financial performance
Growth driven by infrastructural MEUR
construction in Russia and 20 19 20 %
energy-related investments in
10 %
Baltics and Ukraine. The positive 15 13 13
development in business volumes 12 12 0%
11
continued in the Baltic States, 9 10 9
10 -10 %
especially in Lithuania, and also in 8
Ukraine -20 %
5
Profitability started to recover -30 %
based on increasing business
volumes and higher price levels 0 -40 %
New outlets opened in the Baltics, Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2
mainly in Lithuania and Estonia, 2009 2010 2011
as well as in the Russian city of Net sales EBIT-%
Sochi
Q2 January - June Full
Year
Europe East 2011 2010 Change Change 2011 2010 Change Change 2010
(EUR) (Local) (EUR) (Local)
Net sales, MEUR 13.0 9.5 37 % 40 % 22.4 17.0 32 % 33 % 42.7
EBIT, MEUR 1.0 -1.6 N/A -0.7 -4.0 N/A -3.5
EBIT-margin 7.5 % -16.5 % -3.0 % -23.4 % -8.3 %
Employees 411 394 4% 392
Outlets 51 45 13 % 48
15
16. Q2 2011 Europe Central
Highlights Historic financial performance
MEUR
The growth drivers were the 25 15 %
strong construction and industrial
20 10 %
activity in Poland 20 18 19 19
16 16 5%
Profitability was burdened by low 14
16
14 0%
price levels and business volumes 15 12
especially in Czech Republic and -5 %
Hungary 10 -10 %
Shop-in-shop concept launched in 5
-15 %
Poland with Leroy Merlin in three -20 %
stores located in Warsaw, Poznań 0 -25 %
and Szczecin Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2
Two acquisitions of machinery 2009 2010 2011
and equipment rental businesses Net sales EBIT-%
in Czech Republic
Q2 January - June Full
Year
Europe Central 2011 2010 Change Change 2011 2010 Change Change 2010
(EUR) (Local) (EUR) (Local)
Net sales, MEUR 19.0 15.9 20 % 18 % 33.4 28.0 19 % 18 % 66.6
EBIT, MEUR 1.1 0.3 264 % -0.1 -2.3 N/A 0.8
EBIT-margin 5.7 % 1.9 % -0.3 % -8.4 % 1.2 %
Employees 879 812 8% 824
Outlets 126 98 29 % 111
16
20. Net sales grew in all segments both in euros
and in comparable exchange rates
Change in Q2 net sales YoY, %
60 %
51 %
50 %
40 %
40 % 37 %
30 %
24 %
21 % 22 % 20 % 21 %
20 % 16 % 18 %
14 % 13 % 10 %
11 % 12 %
10 % 10 %
10 %
1 % 1 %1 %
0%
Group Finland Sweden Norway Denmark East Central
EUR Comparable exchange rates Adjusted for inter-segment sales (in EUR)
Group April - June 2011 Net sales increased by 16.1% (13.7% at comparable
exchange rates)
20
21. Capital turnover is continuously increasing
Invested capital by quarter
MEUR
800 160 %
708 707
700 654 140 %
586 565
600 562 581 578 552 544 120 %
494 515 524 508 509 496 508 536
500 100 %
400 80 %
300 60 %
200 40 %
100 20 %
0 0%
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2
2007 2008 2009 2010 2011
Invested capital Net sales/Invested capital Rolling 12 month basis
Capital turnover amounted to 110% end of June 2011 (94% end of June 2010)
21
22. Gross margin has improved compared to
previous year but is still below pre-downturn
level
Gross margin by quarter
72 %
71 % 71 % 71 % 71 %
71 %
70 % 70 %
70 %
69 %
69 % 68 %
68 % 68 % 68 %
68 % 67 %
67 % 67 %
67 %
66 %
66 % 65 %
65 %
65 %
64 %
63 %
62 %
Q1 Q2 Q3 Q4 FY
Gross margin 2008 Gross margin 2009 Gross margin 2010 Gross margin 2011
Gross margin is impacted by price pressure and increased equipment transportation
and use of external services
22
23. Total workforce has increased slightly due to
recovering demand and acquisitions
Number of employees by segment
1 000
879
900
812
800
700 641 633
563
600 540 519 518
500
394 411
400
300
160
200 148
100
0
Finland Sweden Norway Denmark Europe East Europe
Central
Personnel 30/06/10 Personnel 30/06/11
At the end of June 2011, the Group’s workforce amounted to 3,185 (3,071) persons
At the end of December 2010, the Group’s workforce amounted to 3,048 (3,021) persons
23
24. Record high number of outlets in the Group
Number of outlets per segment
450
399
400 359
350
126
99
300
250
73 43 21 51
57 3718 52
200
150
100
50
96
85
0
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2
2008 2009 2010 2011
Finland Sweden Norway Denmark Europe East Europe Central
24
25. Fixed cost development continues on stable
level
Fixed costs by quarter
MEUR
80 73
70 63
63 62
60 57 57 56 56
29 52 52 54
50 24 27 25
22 23 22 23
22 19 22
40
30
20 44
35 33 33 38 37 37
30 33 33 32
10
0
Q3 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2
2008 2009 2010 2011
Employee benefit expenses Other operating expenses
The fixed cost level increased year-on-year due to a higher number of employees,
intensified sales activities and expenses related to development of Ramirent’s
common platform and outlet network.
25
27. Q2 EBIT margin improved in all segments
compared to previous year
EBIT-margin by segments
20 %
14.4 % 16.5 %
15 % 12.9 %
10.3 % 11.1 %
10 % 7.9 % 7.5 %
5.8 % 5.7 %
5% 3.7 %
1.9 %
0%
-5 % -2.9 %
-7.4 %
-10 %
-15 %
-16.5 %
-20 %
Group Finland Sweden Norway Denmark East Central
Q2 2010 Q2 2011
27
28. Q2 2011 fleet investment rose to EUR 38.3
million
Purchased and sold equipment by quarter
MEUR
45
40 38.3
35
29.6
30
25
18.9
20 17.4
15
8.9
10 6.7 6.5 7.5
4.4 5.0 4.7 5.0 4.4 5.2
3.7 3.7 3.3 3.7
5 2.0 2.1
0
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2
2009 2010 2011
Purchased equipment Sold equipment
In April-June 2011, gross capital expenditure was EUR 44.6 (21.7) million of which
EUR 38.3 (18.9) million in rental fleet
The value of sold rental equipment was EUR 5.2 (3.7) million.
28
29. Capital expenditure increased in all segments
to meet the increasing demand
Capital Expenditure by segments
MEUR
90
80 76
70
60
50
40 34
30 25
18
20 15
12
12 10
10 7 5 7
2 3
0
0
Group Finland Sweden Norway Denmark East Central
1-6/2010 1-6/2011
29
30. Working capital is at 7% of net sales
Working capital by quarter
MEUR
120 10 %
8%
80 6%
97 109
88 90 90 99 95
86 80 83
40 4%
2%
16 15 15 15 15 14 14 16 16 17
0 0%
-2 %
-66 -68 -70 -67 -69
-40 -86 -86 -89 -82 -84 -4 %
-80 -6 %
-8 %
-120 -10 %
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2
2009 2010 2011
Inventories Trade and other receivables
Trade payables and other liabilities Working capital/Net sales Rolling 12 month basis
30
31. Cash flow after investments EUR -31.1 million
due to increased fleet investments and acquisitions
Cash flow versus change in net debt
MEUR
90
70
50
82
30 56 67
48
10 25 28 22 20 24
18 5 13 14 14
-11 -11
-10 -30
-23 -2 -21 -20
-22 -26 -25 -4
-12
-30 -55 -59
-50
-70
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2
2008 2009 2010 2011
Cash flow after investments Change in net debt
Change of net debt in 1-6/2011 is effected by paid dividends of EUR 27.0 million
and purchase of own shares of EUR 3.4 million
31
32. Strong financial position with gearing at 80%
Net debt and gearing
MEUR
400 113 % 120 %
106 % 108 %
350 96 % 81 % 99 %
100 %
84 % 86 %
300 69 %
74 % 80 %
70 % 71 % 80 %
250 68 % 68 %
64 % 60 %
200 56 % 60 %
150
40 %
100
20 %
50
0 0%
2004 2005 2006 2007 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2
2008 2009 2010 2011
Net debt Gearing (%)
Equity ratio decreased to 42.5% (44.3%)
Net debt amounted to EUR 238.2 (209.3) million
On 30 June 2011 unused committed back-up loan facilities were EUR 126.0 million
32
33. CMD 2011
Welcome to Ramirent’s
Capital Market Day
1 September 2011
from 9:00-16:00
in Vantaa, Finland
34. 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
34
36. Ramirent in brief
Leading equipment rental company in Northern, Central
and Eastern Europe with net sales of EUR 531 million
(2010)
399 rental customer centers located in 13 countries and
providing 200 000 rental items
3 185 employees serving 100 000 customers
Founded in 1955 and headquartered in Finland
Listed on NASDAQ OMX Helsinki since 1998
36
37. More than 50 years of experience as a
supplier to the construction industry
Greenfield
Steel Nail shop First move entry to
Rakennusmies outside Finland Enter Acquires Czech Republic
founded through JV in Lithuania Bautas in
Moscow, Russia Norway
The rental Acquires
business is MBO by key Enter Altima in
established personnel and Poland Sweden
capital investors
1955 1983 1988 1994 1995 1996 1997 1998 2000 2001 2002 2003 2004 2005 2006 2008
Acquired by Partek Enter Renamed Enter
and renamed Latvia Ramirent Ukraine
A-rakennusmies Plc
Enter
The third county
Slovakia
becomes Estonia with Listed on the Greenfield
the expansion to Helsinki Stock entry to
Tallinn Exchange Hungary
37
38. 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
38
39. One of the leading equipment rental companies
both in Europe (#3) and globally (#12)
Largest rental companies in Europe Largest rental companies globally
Turnover 2010 (MEUR) Turnover 2010 (MEUR)
Aggreko
Loxam
United Rentals
Cramo*
Ashtead Group
Ramirent
RSC Equipment Rental
Algeco…
Algeco Scotsman
Speedy Hire
Coates Hire Ltd
Sarens
Hertz Equipment Rental
Liebherr-…
Kiloutou Loxam
Mediaco… Nishio Rent All Co
HKL… Nikken Corp
Cramo*
Ramirent
0 200 400 600 800 1000
0 500 1000 1500 2000
*Cramo + Theisen PF
Source: IRN June 2011
39
40. Nordic countries are our largest markets and
construction is our largest customer sector
Sales per segment 1-6/2011 Sales per customer sector 2010
Europe
Households
Central Public sector 5%
12 % Finland 5%
Europe 23 % Construction
East 76%
8% Industry
14 %
Denmark
6%
Norway Sweden
22 % 29 %
40
41. Leading market positions
in all our markets
Finland
85 depots
Sweden (25 franchises)
73 depots Market #1
(10 franchises)
Employees Norway Market #2
43 depots Russia1
Europe Finland (4 franchises) 6 depots
Central 633 Market #1 10 re-renting
879 agents
Market #1
Baltic
40 depots
Market #2
Total
Denmark
3,185 21 depots Poland2
Sweden Market #1 44 depots
Europe 563 Market #1
Ukraine
East 5 depots
411 Market #~4
Slovakia
Czech
Denmark 35 depots
Norway 31 depots (17 franchises)
160
518 (7 franchises) Market #1
Market #~3
Hungary2
16 depots
Market #1
1) St Petersburg + Moscow 2) Excl. Fomrworks business
41
42. Operating through six geographical segments
Diversified customer base
Rental Outlet Network
Finland Sweden Norway Denmark E.East1) E.Central2)
Fleet management
Sourcing
Finance
IT
1) Europe East includes Russia, The Baltic States, Ukraine.
2) Europe Central includes Poland, Hungary, Czech Rep., Slovakia.
42
43. Offering is structured into eight core product
groups
TOWER CRANES
LIFTS HEAVY MACHINERY AND HOISTS SCAFFOLDING
SAFE (SAFETY AND
MODULES FORMWORKS EQUIPM.) LIGHT MACHINERY POWER & HEATING
43
44. Broadest range of equipment and
Dynamic Rental SolutionsTM ….
Rental Solution Concepts
Ramirent offers a range of customer needs-driven & value-adding
turnkey rental solution concepts, driving the problem-solving
approach and the promise of Let’s solve it
Rental services • Operators
• Planning, design • Fuel / gas refilling
• Ramirent know-how • Facility management
• Transportation/Installation • Technical support
• Maintenance/Inspections • Site logistics coordinator
• Insurance • Paperwork
Equipment rental • Scaffolding
• Lifts • Power & Heating
• Modules • SAFE
• Heavy Machinery
• Light Machinery
• Tower Cranes & Hoists
44
45. Dynamic Rental SolutionsTM
is offered to a diverse customer base
Product Outlet Network Customers
groups Construction
Lifts and hoists companies
Tower cranes Industry
Heavy machinery Public sector
Modules Households
SAFE
Light machinery
Scaffolding
Power and
heating
Dynamic Rental
SolutionsTM
45
46. The long-term growth drivers are still in place
Increasing European consolidation High potential CEE
rental penetration opportunities construction markets
Ramirent Cramo
70 % Algeco Scotsman Speedy Hire
Liebherr-Mietpartner GAM
60 %
Mediaco Lifting Harsco Infrastructur
50 % Kiloutou Others
40 %
30 %
20 %
10 %
0%
Europe FI DK SE UK
avg.
Note: Finland company estimate Top 10 companies account for 19% of
Inhabitants (million)
the Europe market of 20.2 BEUR
Construction output (BEUR)
46
47. Financial targets
• ROI >18 % p.a. over a business cycle
• EPS growth > 15 % p.a. over a business cycle
• Gearing ≤ 120 % at end of each year
• Dividend pay-out > 40 %
47
48. Long-term EBIT and ROI development
EBIT and ROI development
35 %
30 %
25 %
23%
20 % 18%
15 %
10 %
5%
0%
1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010
EBIT margin ROI EBIT margin (average) ROI (average)
48
49. Emerging stronger than before
Ramirent is ready to capture
the opportunities in its markets
Broadest range of equipment and
Dynamic Rental SolutionsTM
3,200 dedicated problem solvers
Wide network of outlets close to our customers
Strong financial position
Deriving higher synergies through a uniform
”Ramirent platform” across the organisation
A more unified company and brand
49
57. EBIT BY SEGMENT
EBIT (EUR million) 4-6/11 4-6/10 Change 1-6/11 1-6/10 Change 1-12/10
Finland
4.7 4.0 18.0 % 6.1 3.8 59.5 % 13.7
% of net sales
12.9 % 11.1 % 9.1 % 5.9 % 10.0 %
Sweden
7.0 5.0 38.4 % 13.1 7.6 72.4 % 23.3
% of net sales 16.5 % 14.4 % 15.7 % 11.8 % 16.1 %
Norway
2.4 1.0 133.9 % 2.8 0.6 363.1 % 2.3
% of net sales
7.9 % 3.7 % 4.4 % 1.0 % 2.0 %
Denmark
-0.3 -0,7 57.2 % -1.5 -1.3 -18.4 % -2.2
% of net sales
-2.9 % -7.4 % -8.4 % -7.6 % -6.2 %
Europe East
1.0 -1.6 162.0 % -0.7 -4.0 83.0 % -3.5
% of net sales 7.5 % -16.5 % -3.0 % -23.4 % -8.3 %
Europe Central 1.1 0.3 263.7 % -0.1 -2.3 95.7 % 0.8
% of net sales 5.7 % 1.9 % -0.3 % -8.4 % 1.2 %
Net items not allocated to
operating segments -0.4 -0.7 38.8 % -1.5 -2.5 40.2 % -4.7
Group EBIT
15.4 7.4 107.4 % 18.1 1.9 854.1 % 29.7
% of net sales
10.3 % 5.8 % 6.4 % 0.8 % 5.6 %
57
58. LARGEST SHAREHOLDERS
% of share
Number of shares
capital
1. Nordstjernan AB 31,882,078 29.33
2. Julius Tallberg Oy Ab 11,962,229 11.01
3. Varma Mutual Pension Insurance Company 7,831,299 7.20
4. Ilmarinen Mutual Pension Insurance Company 5,637,214 5.19
5. Tapiola Mutual Pension Insurance Company 2,320,000 2.13
6. Odin Norden 1,820,728 1.68
7. Veritas Pension Insurance Company Ltd 1,474,267 1.36
8. Odin Finland 1,420,458 1.31
9. Odin Europa Smb 1,077,355 0.99
10. Investment Fund Aktia Capital 1,026,002 0.94
*As
58
per 30 June 2011
59. CONSTRUCTION VOLUME FORECASTS
Construction volume EUR bn % Change
2010 2011F
Finland* 28,800 4.0% -
Sweden** 27,500 8.0%
Norway 33,600 5.9%
Denmark 21,600 2.7% -
Poland 44,950 12.8% -
Hungary 8,300 -3.0%
Czech Republic 18,400 -1.1%
Slovakia 5,200 -1.6%
Estonia 1,800 18.0%
Increased forecast
Latvia 2,000 0%
Reduced forecast
Lithuania 3,000 7.0%
No change since
-
last quarterly report
Russia 135,000 3-7% -
Source: Euroconstruct as per June 2011
*VTT Expert Service Oy as per May 2011,
**Swedish Construction Federation 6/2011,
***Excluding Ukraine 59
