Rr results q4_2015_en_final

11 FEBRUARY2016
MAGNUSROSÉN,PRESIDENTANDCEO
PIERREBRORSSON,CFO
Strongfourth-quarter
sales growth, margin
remained under pressure
Financialstatementsbulletin2015

• Group performance
• Segment review
• Market outlook
• Key figures
• Financial position
• Appendices
Agenda
2 11/2/2016 Financial Statements Bulletin 2015

3
• Netsalesupby6.1%orby7.9%atcomparableexchangerates
• StrongservicesalesandgooddemandinGeneralRentalinmostof
Ramirent’smarkets
• EBITA16.8(14.5)MEURor9.9%(9.0%)ofnetsales
• RamirentincreasedcapitalexpendituretoEUR42.0(19.0)millionto
capturegrowthopportunitiesinthemarkets
Fourth-quartersalesgrowthdrivenbystrongservicesales
andgooddemandinGeneralRental
HIGHLIGHTS Q4 15
• Netsalesupby3.6%orby6.0%atcomparableexchangerates
• EBITA66.8(65.8)MEURor10.5%(10.7%)ofnetsales
• Returnonequity(ROE)improvedto12.1%(9.4%)
• Ahigherrelativeshareofsalesofservicesinthebusinessmix,price
pressureinFinlandandNorway,aswellasinternalreorganisations
hamperedprofitability
HIGHLIGHTS 1-12 15
11/2/2016 Financial Statements Bulletin 2015

Salesgrowthreturned in2015
0%
1%
2%
3%
4%
5%
6%
7%
8%
9%
10%
Q4 15 reported Q4 15 at comparable
exchange rates
CHANGEINNETSALES Q4 15 CHANGEINNETSALES1-12 15
• Fourth-quarter net sales increased by 6.1%
or by 7.9% at comparable exchange rates
compared to the previous year
• Fourth-quarter net sales amounted to
170.5 (160.7) MEUR
• Full-year net sales increased by 3.6% or by
6.0% at comparable exchange rates
compared to the previous year
• Full-year net sales amounted to 635.6
(613.5) MEUR
4
0%
1%
2%
3%
4%
5%
6%
7%
8%
9%
10%
1-12 15 reported 1-12 15 at comparable
exchange rates
Financial target:
GDP growth 2.3%
in Ramirent
countries* + 2.0%
points
*Source: Average GDP estimates from Nordea, Handelsbanken, SEB & Euroconstruct
(Weighted by size of the economy)

• Salesgrowthwasdrivenby
ongoingTotalSolutions
projectsintheNordic
countries
• Ramirent’sinvestmentsinto
deliveringTotalSolutions
showedresultsinseverallarge
ordersreceivedduring2015
• Strongsalesofservices
throughouttheyear
• Buildinguptheorganisation
increasedfixedcostsin2015
5
• Salesgrowthwassupported
byfavourabledemandinmost
ofRamirentmarkets
• Fleetrenewalsingrowing
productgroupssupported
fleetutilisation
• Optimisationofcustomer
centrenetworkcontinued
• Pricepressurecontinued
mainlyinFinlandandNorway
• Favourabledemandinall
Nordiccountriesexcept
Norwaymainlydueto
slowdownintheoilindustry
• Publicsectorprojectswerethe
maingrowthdriver;twonew
contractswithmunicipalitiesin
Stockholmtoprovideliving
spacesforasylumseekers
• Launchofanewsub-brand,
RamirentTemporarySpace,to
strengthenpositioninthe
market
Summaryofdevelopmentbybusinessareain2015
Share of Group sales
65 % 31% 4%

0%
2%
4%
6%
8%
10%
12%
14%
16%
18%
Q4 14 Q4 15
EBITAMARGINQ4 15
Fourth-quarterreportedEBITAmarginimprovedto9.9%
(9.0%)
EBITAMARGIN1-12 15
• Fourth-quarter EBITA margin improved to
9.9%1) (9.0%2)) of net sales
• Full-year EBITA margin was 10.5%1)
(10.7%2)) of net sales
6
0%
2%
4%
6%
8%
10%
12%
14%
16%
18%
1-12 14 1-12 15
1) Non-recurring items included restructuring provisions of EUR 0.8 million
booked in Sweden and Norway. Non-recurring items included also
derecognition of a contingent consideration liability, EUR 0.8 million, that was
recognised in other operating income.
2) Non-recurring items included EUR 3.7 million restructuring costs and asset
write-downs booked in Q4 2014.
1) Non-recurring items included restructuring provisions of EUR 1.2 million
booked in Sweden, Norway and Denmark. Non-recurring items included also
two derecognitions of a contingent consideration liability, in total EUR 4.6
million, that was recognised in other operating income.
2) Non-recurring items included EUR 5.7 million restructuring costs and asset
write-downs booked in 1-12/2014.

Returnonequityimproved
RETURN ON EQUITY%
Financial target:
Return on equity of
12% per fiscal year
14.7%
9.4%
12.1%
0.0%
5.0%
10.0%
15.0%
20.0%
25.0%
Q1
2013
Q2 Q3 Q4 Q1
2014
Q2 Q3 Q4 Q1
2015
Q2 Q3 Q4

375% 192% 68% 58% 74% 132% 111%
EARNINGS PER SHARE AND DIVIDEND PER SHARE
• The Board proposes to
the AGM that a
dividend of 0.40 (0.40)
per share be paid for
the financial year 2015
• The proposed
dividend represents a
payout ratio of 111%
(132%) for 2015
• The Board decided not
to utilise its
authorisation to pay
an additional dividend
based on the financial
statements 20140.04
0.13
0.41
0.59
0.50
0.30
0.36
0.15
0.25
0.28
0.34
0.37
0.40 0.401)
0.00
0.10
0.20
0.30
0.40
0.50
0.60
0.70
2009 2010 2011 2012 2013 2014 2015
EPS DPS
Payout
ratio:
8
TheBoardproposesadividendof0.40pershare,
representinga111%payoutratiofor2015
1) Board's proposal

Allofourlong-termfinancialtargetsweremetin2015
*Sales growth at comparable exchange rates compared to
target of above 4.3% (2.0%-points + 2.3% 2015 GDP growth in Ramirent
countries). Ramirent’s reported 2015 sales growth was 3.6%.

10
Segmentreview

HIGHLIGHTSQ4 15
FinlandQ415:Goodgrowthandprofitabilitydespitea
challengingmarket
NETSALES
KEY FIGURES PROFITABILITY
• Salesin GeneralRentalandSolutionswere drivenby
favourabledemandespeciallyamongsmalland
mediumsizedcustomers
• Demand continuedtobestrongin SouthernFinland,
whiledemandwasslowin otherpartsofthecountry
• EBITAimprovementwasdrivenbysalesgrowthand
goodcontroloffixedcosts 0
10
20
30
40
50
Q1
2013
Q2 Q3 Q4 Q1
2014
Q2 Q3 Q4 Q1
2015
Q2 Q3 Q4
Finland 10–12/15 10–12/14 Change 1–12/15 1–12/14 Change
Net sales 43.1 38.7 11.4% 160.2 152.8 4.9%
EBITA 6.51) 3.6 81.4% 21.11) 20.82) 1.4%
% of net sales 15.0%1) 9.2% 13.2%1) 13.6%2)
Capex 11.3 4.4 156.4% 31.3 35.8 −12.5%
Capital employed 120.6 124.4 −3.1%
ROCE (%) 17.5% 15.6%
Personnel (FTE) 455 497 −8.5%
Customer
centres 56 66 −15.2%
Net sales up
by 11.4%
11
0%
5%
10%
15%
20%
25%
30%
Q1
2013
Q2 Q3 Q4 Q1
2014
Q2 Q3 Q4 Q1
2015
Q2 Q3 Q4
EBITA-margin (%) ROCE (%) R12
1) EBITA includes derecognition of a contingent consideration liability of EUR 0.8 million that was recognised in other operating income.
2) EBITA was negatively impacted by EUR 1.5 million of restructuring costs and asset write-downs booked in the fourth quarter of 2014.

HIGHLIGHTSQ4 15
SwedenQ415:Salesgrowthcontinued,profitabilitywas
stillburdenedbyorganisationaldevelopmentcosts
NETSALES
• SalesgrowthwasdrivenbyongoingTotalSolutions
projectsand favourabledemand inGeneralRental
fromtheconstructionsector
• In TemporarySpace,salesgrowthwassupportedby
highdemandfromthepublicsector
• A highershareofservicesales,re-organisationand
costsbuildingupthesolutionsorganisation
hamperedtheEBITA-margin
Net sales up by
16.2% or by 16.7%
at comparable
exchange rates
0%
5%
10%
15%
20%
25%
Q1
2013
Q2 Q3 Q4 Q1
2014
Q2 Q3 Q4 Q1
2015
Q2 Q3 Q4
0
10
20
30
40
50
60
70
Q1
2013
Q2 Q3 Q4 Q1
2014
Q2 Q3 Q4 Q1
2015
Q2 Q3 Q4
12
Sweden 10–12/15 10–12/14 Change 1–12/15 1–12/14 Change
Net sales 63.9 55.0 16.2% 225.4 201.0 12.1%
EBITA 8.01) 9.5 −15.7% 33.02) 29.43) 12.3%
% of net sales 12.5%1) 17.3% 14.6%2) 14.6%3)
Capex 13.6 7.8 74.9% 47.3 67.3 −29.6%
Capital employed 199.0 155.0 28.4%
ROCE (%) 16.1% 16.9%
Personnel (FTE) 779 759 2.6%
Customer
centres
78 77 1.3%
1) EBITA was negatively impacted by a restructuring provision of EUR 0.3 million booked in the fourth quarter of 2015.
2) EBITA was positively impacted by derecognition of a contingent consideration liability of EUR 3.8 million recognised in other operating income in Q2 2015.
3) EBITA was negatively impacted by EUR 0.7 million restructuring costs booked in the fourth quarter of 2014

HIGHLIGHTSQ4 15
NorwayQ415:Restructuringofoperationsunderway
torestoreprofitability
NETSALES
• Activityintheinfrastructuresectorincreasedslightly
whereasresidentialand non-residentialconstruction
remainedon a lowerlevelcomparedtopreviousyears
ThisaffectedsalesinGeneralRentalas wellas Solutions
negatively
• SalesdeclinedinTemporarySpaceduetolow
underlyingdemandespeciallyinWesternpartsof
Norwayduetoslowdownin theoilindustry
• EBITAwas burdenedbylowersales,pricepressure,
highermaterialand servicescostsand restructuringof
operations
0%
5%
10%
15%
20%
25%
Q1
2013
Q2 Q3 Q4 Q1
2014
Q2 Q3 Q4 Q1
2015
Q2 Q3 Q4
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
Net sales down by
13.8% or by 6.2% at
comparable
exchange rates
13
Norway 10–12/15 10–12/14 Change 1–12/15 1–12/14 Change
Net sales 29.2 33.9 −13.8% 120.7 135.7 −11.1%
EBITA 0.21) 3.2 −92.9% 6.5 14.02) −53.3%
% of net sales 0.8%1) 9.4% 5.4% 10.3%2)
Capex 6.3 0.8 704.6% 19.1 14.2 34.4%
ROCE (%) 3.8% 9.2%
Customer
centres 42 43 −2.3%
1) EBITA was negatively impacted by EUR 0.5 million restructuring costs booked in the fourth quarter of 2015
2) EBITA was negatively impacted by EUR 2.2 million restructuring costs booked in the second half of 2014

HIGHLIGHTSQ4 15
DenmarkQ415:Salesandprofitgrewbasedon
successfulturnaroundinoperationsandanimproved
underlyingmarket
NETSALES
• In GeneralRentalsalesgrowthwaspositively
impactedbygooddemandintheconstructionsector
• Goodprogressin TotalSolutionsprojectshada
positiveimpacton sales
• Profitabilitywassupportedbya lowerfixedcostlevel
duetocostsavingsimplementedearlierintheyear
and reductionoftwocustomercentresinthequarter
-25%
-20%
-15%
-10%
-5%
0%
5%
10%
Q1
2013
Q2 Q3 Q4 Q1
2014
Q2 Q3 Q4 Q1
2015
Q2 Q3 Q4
0
2
4
6
8
10
12
14
Q1
2013
Q2 Q3 Q4 Q1
2014
Q2 Q3 Q4 Q1
2015
Q2 Q3 Q4
Net sales
increased by
4.1%
14
Denmark 10–12/15 10–12/14 Change 1–12/15 1–12/14 Change
Net sales 11.1 10.6 4.1% 42.3 39.4 7.4%
EBITA 0.5 −0.9 n/a 0.31) −3.92) n/a
% of net sales 4.4% −8.9% 0.7%1) −10.0%2)
Capex 1.2 0.4 198.6% 4.7 3.6 28.6%
ROCE (%) −0.5% −14.9%
Personnel (FTE) 139 147 −5.3%
Customer
centres 13 16 −18.8%
1) EBITA was negatively impacted by a EUR 0.5 million of restructuring provision booked in the third quarter of 2015
2) EBITA was negatively impacted by EUR 0.1 million of restructuring costs booked in the fourth quarter of 2014

HIGHLIGHTSQ4 15
EuropeEastQ415:Goodprofitabilitylevelmaintained
asaresultofgoodcostcontrol
NETSALES
KEY FIGURES PROFITABILITY(THEBALTICS)
• In Baltics,demand inGeneralRentalremainedon a fair
level
• EBITAwas supportedbya favourablesalesmixandgood
costcontrolbutweakenedduetohigherpricepressure
and loweractivityin Latvia
• Fortrent:Salesgrewby6.4%at comparableexchange
rates.TheresultattributabletoRamirentwas0.2MEUR
positive.
0
2
4
6
8
10
12
Q1
2013
Q2 Q3 Q4 Q1
2014
Q2 Q3 Q4 Q1
2015
Q2 Q3 Q4
Net sales were
down by 4.3%
-5%
0%
5%
10%
15%
20%
25%
30%
35%
Q1
2013
Q2 Q3 Q4 Q1
2014
Q2 Q3 Q4 Q1
2015
Q2 Q3 Q4
Baltics EBITA-margin (%) ROCE (%) R12
15
Europe East 10–12/15 10–12/14 Change 1–12/15 1–12/14 Change
Net sales 8.8 9.2 −4.3% 34.1 33.9 0.6%
EBITA 2.1 2.1 −1.1% 7.2 6.7 8.8%
% of net sales 23.5% 22.7% 21.2% 19.6%
Capex 2.6 1.9 38.2% 19.0 10.6 79.6%
ROCE (%) 15.0% 11.3%
Customer
centres 44 42 4.8%

HIGHLIGHTSQ4 15
EuropeCentralQ415:Allmarketsimprovedbothin
termsofsalesgrowthandimprovedprofitability
NETSALES
• InPoland, projectsinthepowerplant,windpower,
logisticsand infrastructuresectorssupportedthedemand
inGeneralRentalandSolutions
• IntheCzechRepublic andSlovakia,sales grew dueto
favourabledemand inbothinfrastructureand industrial
constructionas wellas internaloperationaldevelopment
• EBITA improved as a resultofsales growthandrental
priceincreases, butwasburdenedby additionalcostsin
one projectinSolutions
Net sales up by
10.9% or by 11.4%
at comparable
exchange rates
-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
16
Europe Central 10–12/15 10–12/14 Change 1–12/15 1–12/14 Change
Net sales 15.3 13.8 10.9% 55.4 53.2 4.2%
EBITA 0.8 0.5 53.0% 3.3 1.71) 91.2%
% of net sales 5.3% 3.9% 5.9% 3.2%1)
Capex 6.7 1.1 504.9% 16.2 7.8 107.5%
ROCE (%) 5.6% 2.6%
Customer
centres 55 58 −5.2%
1) EBITA was negatively impacted by EUR 1.1 million of restructuring costs and asset write-downs
booked in the fourth quarter of 2014
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

17
Marketoutlook

18
GDPgrowthisexpectedtoremainstableinoverall
inRamirent'smarkets
RAMIRENT'SFULL-YEARSALESGROWTH ANDGDP GROWTH ESTIMATES(%)*
• After four years in recession,
the Finnish economy is
expected to grow slightly
• The Swedish economy is
supported by strong private
consumption and population
growth
• In Denmark a broadly-based
recovery is expected to
continue in the economy
• In Norway the general
economy is impacted by
slowdown in the oil industry
• In the Baltics, there is a mixed
picture with a good outlook
for Lithuania and a weaker
for Latvia.
• In Poland, economic growth is
fuelled by strong private
consumption and industrial
production
3.6%
6.0%
2.3% 2.4%
0%
1%
2%
3%
4%
5%
6%
7%
2015A 2016E
Group full-year 2015 reported sales growth
Group full-year 2015 sales growth at comparable exchange rates
GDP growth in Ramirent countries 2015 and 2016E
(Weighted by size of the economy)
Financial target:
Annual net sales growth
above GDP +2%-points

Fourth-quarterNordicconstructionorderbooksincreased
by2.7%atcomparableexchangerates
NORDICCONSTRUCTIONORDER BOOKS (MEURANDCHANGEAT COMPARABLEEXCHANGERATES)
19
• Fourth-quarter
Nordic construction
order books
including NCC,
Skanska,
Lemminkäinen and
YIT increased by
2.7% at comparable
exchange rates
• At comparable
exchange rates,
Ramirent's net sales
were up by 7.9% for
the fourth quarter
and 6.0% for the full
year 2015
-40%
-20%
0%
20%
40%
60%
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
Q1
2007
Q3 Q1
2008
Q3 Q1
2009
Q3 Q1
2010
Q3 Q1
2011
Q3 Q1
2012
Q3 Q1
2013
Q3 Q1
2014
Q3 Q1
2015
Q3
NCC Skanska
YIT Lemminkäinen
Change in Net sales (y-o-y), R12 Ramirent Change in order backlog (y-o-y), Nordic construction

Ramirentexpectstoseestableandfairoverallmarket
conditionsin2016
EUROCONSTRUCTESTIMATESON GROWTH INCONSTRUCTION
VOLUMES2016E
RAMIRENT'SEXPECTATIONSON OVERALL DEMANDBY EQUIPMENT
RENTAL MARKET
20
3.2%
2.8%
3.9%
2.3%
0%
1%
2%
3%
4%
5%
6%
Finland Sweden Norway Denmark
1.5%
5.8%
0%
1%
2%
3%
4%
5%
6%
7%
8%
The Baltics Europe Central countries
Source: Euroconstruct 12/2015
Favourable
Stable
Challenging

21
ConstructionintheNordicsestimatedtogrowby3.1%in2016
40
50
60
70
80
90
100
110
120
2011 2012 2013 2014 2015E 2016E
New residential construction New non-residential construction Renovation Infrastructure construction
FINLAND
40
60
80
100
120
140
160
2011 2012 2013 2014 2015E 2016E
SWEDEN
40
60
80
100
120
140
160
2011 2012 2013 2014 2015E 2016E
NORWAY
40
50
60
70
80
90
100
110
120
2011 2012 2013 2014 2015E 2016E
DENMARK
Source: Euroconstruct 12/201511/2/2016 Financial Statements Bulletin 2015

Ramirent outlookfor
2016
In 2016, Ramirent’s net sales in local
currencies and EBITA margin are
expected to increase from the level
in 2015.

23
Keyfigures

102.8 104.1
50.3
58.7
7.6
7.6
0
20
40
60
80
100
120
140
160
180
Q4 14 Q4 15
Rental income Ancillary income Income from sold equipment
+1.3%
+16.9%
-0.2%
160.7
-2.9
12.7
170.5
0
20
40
60
80
100
120
140
160
180
Q4 14
reported
Exchange
rates
Underlying
change
Q4 15
reported
Fourth-quarternetsalesgrowthwasdrivenbystrong
servicesales
NET SALES (MEUR) Q4 15 BREAKDOWN OF NET SALES (MEUR) Q4 15
Ancillary income
generated 34.5%
(31.3%) of Group
net sales in the
fourth quarter
Strong service
sales the primary
growth driver in
the quarter
Continued
weakening of the
Norwegian krona
impacted negatively
on euro-
denominated sales

ImprovedresultsinFinlandandDenmarksupported
fourthquarterEBITA
EBITABRIDGE(MEUR)Q4 14 – Q4 15
14.5
2.9
−1.5
−3.0
1.4
0.0 0.3
2.1
16.8
5
7
9
11
13
15
17
19
EBITA Q4
2014
Finland Sweden Norway Denmark Europe East Europe
Central
Items not
allocated to
segments
EBITA Q4
2015
Sales growth, control
of fixed costs and
positive impact of a
non-recurring income
of MEUR 0.8
Lower sales, pricing
pressure and
restructuring
impacted on EBITA
Profitability
supported by
increased fleet
utilisation and a
lower level of
fixed costs
15.0% 12.5% 0.8% 4.4% 23.5% 5.3%
9.2% 17.3% 9.4% −8.9% 22.7% 3.9%
EBITA margin Q4/2015
EBITA margin Q4/2014
Re-organisation and
costs building up the
Solutions organisation
hampered EBITA

13.6% 14.6%
10.3%
-10.0%
19.6%
3.2%
13.2% 14.6%
5.4%
0.7%
20.1%
5.9%
-10%
-5%
0%
5%
10%
15%
20%
25%
Finland Sweden Norway Denmark The Baltics Europe Central
SalesgrewinallmarketsexceptinNorway
1-12 14 1-12 15
FULL-YEAR2015 SALESGROWTH AND GDP GROWTH*
FULL-YEAR2015 EBITAMARGIN(%)
4.9%
15.2%
-4.9%
7.4%
0.6%
4.1%
0.1%
3.5%
1.4% 1.3% 1.8%
3.6%
-12%
-8%
-4%
0%
4%
8%
12%
16%
At comparable
fx. FY2015
GDP growth
FY2015

GROSSMARGIN(%) Q4 15
63.5% 62.8%
60.9%
40%
45%
50%
55%
60%
65%
70%
75%
Q1
2013
Q2 Q3 Q4 Q1
2014
Q2 Q3 Q4 Q1
2015
Q2 Q3 Q4
404.4 397.1
0
100
200
300
400
500
1-12 14 1-12 15
GROSSPROFIT (MEUR)1-12 15
• Fourth–quarter gross margin decreased to
60.9% (62.8%) due to higher share of service
sales
• January–December gross profit decreased
to 397.1 (404.4) MEUR or 62.5% (65.9%)
of net sales
27
Full-yeargrossmarginimpactedbyhigherrelativeshareof
servicesales

Finland
455 (497)
Sweden
779 (759)
Norway
401 (388)
Denmark
139 (147)
Europe East -
Baltics
251 (240)
Europe Central
493 (477)
CUSTOMERCENTRES31.12.2015 PERSONNEL31.12.2014
• Outsourcingofnon-coreoperationsand contingency
actionsreducedpersonnelinFinland
Optimisationofthecustomercentrenetworkcontinuedin
theNordiccountries
Group:
2,6541)
(2,576)
1) Including personnel in Ramirent Shared Service AS
56
(66)
44
(42)
55
(58)
78
(77)
13
(16)
42
(43)
In 2015, Ramirent
has merged or closed
several customer
centres outside of
Southern Finland
New customer
centres opened to
meet the strong
demand in Sweden
28
In total, Ramirent has 288
(302) customer centres in
ten countries
Closures of
unprofitable
customer
centres in 2015

FIXEDCOSTS (MEUR)AND% OF GROUP NETSALES
Fourth-quarterfixedcostsimpactedbyrestructuringof
operationsinSwedenandNorway
• Fourth-quarter fixed costs
62.0 (60.6) MEUR or 36.3%
(37.7%) of net sales
• Employee benefit
expenses 39.2 (38.0)
MEUR
• Other operating
expenses 22.7 (22.6)
MEUR
• Fixed costs increased due to
restructuring provision of 0.8
MEUR recognised in the
fourth quarter
• January-December fixed costs
236.9 (238.3) MEUR or 37.3%
(38.8%) of net sales
• January-December fixed costs
excluding non-recurring items
decreased to 235.7 (236.4)
MEUR or 37.1% (38.5%) of
net sales
61.4 60.6 62.0
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

Group'sreportedfull-yearEBITAimprovedto66.8(65.8)
MEUR
EBITAMARGIN
10.7% 10.5%
0%
2%
4%
6%
8%
10%
12%
14%
16%
18%
1-12 14 1-12 15
0%
2%
4%
6%
8%
10%
12%
14%
16%
18%
20%
Q1
2011
Q2 Q3 Q4 Q1
2012
Q2 Q3 Q4 Q1
2013
Q2 Q3 Q4 Q1
2014
Q2 Q3 Q4 Q1
2015
Q2 Q3 Q4
EBITA-margin (%) EBITA-margin (%) (R12)
• Reportedfourth-quarterEBITAmarginincreasedto
9.9%(9.0%)ofnet sales
• Full-year2015EBITA66.8(65.8)MEURor10.5%
(10.7%)ofnetsales
EBITAMARGIN(QUARTERLY AND ROLLING12 MONTHS)

EARNINGSPER SHARE
Fourth-quarterandfull-yearEPSimprovedcomparedtothe
previousyear
• Fourth-quarter EPS
increased by 155.3% to
0.11 (0.04)
• Net financial items
decreased to -1.9 (-6.1)
MEUR in the fourth
quarter
• Full-year EPS improved
by 19.4% to 0.36 (0.30)
• Full-year net financial
items decreased to -11.1
(-15.7) MEUR
• Full-year tax rate for the
Group decreased to
17.2% (24.4%)
31
0.13
0.04
0.11
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
(-0.00)

CAPITAL EXPENDITUREEXCL..ACQUISITIONS(MEUR)AND% OF NET SALES
Capexwasacceleratedinthefourthquartertocapturegrowth
opportunities
• Fourth-quarter capital
expenditure excl.
acquisitions increased
to 31.9 (14.4) MEUR
• Accelerated capex as a
result of fleet renewals
and strategic
investments to capture
growth opportunities in
our business areas
• Full-year 2015 capital
expenditure excl.
acquisitions increased
to 123.0 (86.8) MEUR
28.5
14.4
31.9
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
Capex excl. acquisitions Share of net sales-%

CAPITAL EXPENDITUREEXCL..ACQUISITIONSBYSEGMENT(MEUR)
Investmentsintherentalfleetincreasedinallsegments
• Committed investments on
rental machinery
amounted to 26.3 (7.4)
MEUR at the end of the
fourth quarter
• In January–December sales
value of sold rental
machinery and equipment
was 23.5 (24.7) MEUR
16.8
39.2
13.0
2.5
8.8
6.6
24.4
45.7
17.9
3.7
16.9
14.4
0
10
20
30
40
50
60
70
Finland Sweden Norway Denmark Baltics Europe
Central
1-12 14 1-12 15

CASHFLOWAFTER INVESTMENTS(MEUR)
Cashflowimpactedbyincreasedcapitalexpenditureinthe
fourth-quarter
• Fourth–quarter cash flow
from operations decreased
to 45.0 (53.7) MEUR
• Fourth–quarter cash flow
from investing activities
increased to -39.7(-21.1)
MEUR mainly due to
increased investments in
machinery and equipment
• The Group’s cash flow after
investments 5.3 (32.6)
MEUR in the fourth quarter
and -6.3 (21.8) MEUR for
January–December
25.2
32.6
5.3
-30
-20
-10
0
10
20
30
40
Q1
2013
Q2 Q3 Q4 Q1
2014
Q2 Q3 Q4 Q1
2015
Q2 Q3 Q4

Returnoninvestmentimprovedslightly
RETURN ON INVESTMENT%
12.2% 12.3%
0%
2%
4%
6%
8%
10%
12%
14%
16%
18%
1-12 14 1-12 15
• TheGroup'sinvestedcapitalincreasedby8.2%to
600.5(555.2)MEUR
RETURN ON INVESTMENT% AND INVESTEDCAPITAL (MEUR)
16.5%
12.2% 12.3%
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

17.5%
16.1%
3.8%
-0.5%
15.6%
5.6%
-20%
-15%
-10%
-5%
0%
5%
10%
15%
20%
Finland Sweden Norway Denmark The Baltics Central
Q1 15 Q2 15 Q3 15 Q4 15
RETURN ON CAPITAL EMPLOYED% (ROLLING12 MONTHS)
ROCEimprovedinFinland,DenmarkandEuropeCentral
ROCE driven by strong
service sales and
improved margins
especially in the
second half of 2015
ROCE was driven by
higher share of service
sales, price increases
as well as good cost
control in the
operations
ROCE improved from
the prior year driven
by margin
improvement and
successful operational
efficiency actions

Returnonequityimprovedto12.1%(9.4%)
RETURN ON EQUITY%
9.4%
12.1%
0%
2%
4%
6%
8%
10%
12%
14%
16%
18%
1-12 14 1-12 15
• TheGroup's totalequityamountedtoMEUR 319.1
(325.0) at theendof2015
• Equitypersharewas2.96 (3.01) attheofendofthefourth
quarter
• In2015, Returnon equitywas 12.1% (9.4%) whichwas
slightlyabove long-termfinancialtargetof12% perfiscal
year
ROE % ANDTOTAL EQUITY(MEUR)
14.7%
9.4%
12.1%
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
37
Financial target:
Return on Equity
of 12% per fiscal
year

38
Financialposition

NetdebttoEBITDAratioclearlybelowfinancialtarget
NETDEBT (MEUR)
• NetdebttoEBITDA ratiowas 1.7x(1.4x)at theendofthe
fourthquarter,whichwas below Ramirent’s long-term
financialtargetofmaximum 2.5xattheendofeachfiscal
year
• Netdebtincreased compared tothepreviousyear
amountingto280.9(227.1) MEUR
• Netdebtincreased mainlydue tohighercapital
expenditureandincreased dividend
NETDEBT TO EBITDARATIO
1.1x 1.1x
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
206.9
227.1
280.9
0
50
100
150
200
250
300
350
Q1
2013
Q2 Q3 Q4 Q1
2014
Q2 Q3 Q4 Q1
2015
Q2 Q3 Q4
39
Financial target:
Net debt to EBITDA
below 2.5x at the
end of each fiscal
year

Fixed
58%
Floating
42%
LOAN PORTFOLIO
• Total loan portfolio
(interest-bearing
liabilities) 281.4 (230.2)
MEUR at the end of 2015
• Non-current interest-
bearing liabilities 183.2
(206.7) MEUR at the end
of 2015
• Current interest-bearing
liabilities 98.2 (23.5)
MEUR at the end of 2015
• At the end of 2015, share
of floating interest rates
was 42% and share of
fixed interest rates was
58% of the total loan
portfolio
Awell-balanceddebtstructuresupportsRamirent’s
profitablegrowthstrategy
Loans
from
financial
institu-
tions
34%
Bond
36%
Com-
mercial
papers
30%
INTEREST-BEARINGLIABILITIESQ4 15 INTERESTRATES TYPE Q4 15

REPAYMENTSCHEDULEOF INTEREST-BEARINGLIABILITES(MEUR)
Attheendof2015,Ramirenthadunusedcommittedback–
uploanfacilitiesofEUR134.4million
• Ramirent had unused
committed back-up loan
facilities of 134.4
(188.7) MEUR available
at the end of the fourth
quarter
• The average interest
rate of the loan portfolio
including interest rate
hedges was 2.6% (3.1%)
at the end of 2015
• In addition to bank
facilities, Ramirent is
utilising a domestic
commercial paper
programme of up to 150
MEUR
75
95
100
145
2015 2016 2017 2018 2019 2020
Net debt EUR 280.9 million
EUR 415.0 million in committed credit facilities

Forfurtherinformation

Appendix

• Ramirentisa leadingequipmentrental solutionsgroupoperatingin
10countrieswith2015net salesof EUR636million
• Ramirent’smissionistocombinethebestequipment,servicesand
know-howintorentalsolutionsthatsimplifycustomer’sbusiness
• Ramirentservesa broadrange ofcustomersectorsincluding
construction,industry,services,thepublicsectorand households
• Ramirenthas2,654employeesoperatingfrom288customer
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
1-1215
NET SALES BY CUSTOMER SECTOR
1-1215
NET SALES BY BUSINESS
AREA1-1215
Finland
25%
Sweden
35%
Norway
19%
Denmark
7%
Europe East –
Baltics 5%
Europe Central
9%
Construction
51%
Industrial
18%
Services &
Retail 20%
Public
3%
Other
5%
Private
3%
General Rental
65%
Solutions
31%
Temporary
Space 4%

13.6% 14.6%
10.3%
-10.0%
19.6%
3.2%
13.2% 14.6%
5.4%
0.7%
20.1%
5.9%
-10%
-5%
0%
5%
10%
15%
20%
25%
152.8
201.0
135.7
39.4 33.9
53.2
160.2
225.4
120.7
42.3 34.1
55.4
0
50
100
150
200
250
SalesgrewinallmarketsexceptinNorway
1-12 14 1-12 15
FULL-YEAR2015 NETSALES(MEUR)
FULL-YEAR2015 EBITAMARGIN(%)

AccessEquipment
Ramirent offers more than machines
Ramirentcombinesthebestequipment,servicesandknow-howintorentalsolutions
thatsimplifycustomer’sbusiness.
ModulesandsiteEquipment
HeavyMachinery
Planning
LightEquipment
Logistics
On-siteServices
RentalInsurance
Training Accessories
Ramirent
SpaceSolveTM
Ramirent
SafeSolveTM
Ramirent
EcoSolveTM
Ramirent
PowerSolveTM
Ramirent
ClimateSolveTM
Ramirent
AccessSolveTM
Ramirent
TotalSolveTM

CHARACTERISTICS
• Localbusiness,where
Ramirentprovidesequipment
andservices
• Highergrossmargin,butmust
carryfixedcostsofthe
customercentrenetwork
• Highershareofequipment
rental
• Focusonserviceleveland
efficiency
Financial Statements Bulletin 2015
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
47 11/2/2016
Business areas with different characteristics and risk profiles
Share of Group sales

Temporary
Space
4%
General
Rental
65%
Solutions
31%
Ramirent targets a business mix that balances growth
opportunities, profitability and risk
GROUP NET SALES SPLIT BY BUSINESS AREA 1-12 2015
48 Financial Statements Bulletin 201511/2/2016

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
49
Capturing
outsourcing
opportunities in
other sectors

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

Ramirent‘s largest shareholders
at the end of 2015
TRADING INFORMATION
Listing: NASDAQ HELSINKI
Segment: Mid Cap
Sector: Industrials
Trading code: RMR1V
SHARE INFORMATION 1-12 15
Closing price 6.45 (6.45)
Highest 8.29 (10.25)
Lowest 6.03 (5.61)
VWAP* 6.90 (7.71)
At the end of December 2015 a total
of 54.7% (50.1%) of the company’s
shares were owned by nominee-
registered and non-Finnish investors
51
LARGESTSHAREHOLDERSAT THEENDOF DECEMBER2015
Largest shareholders
December 31, 2015
Number of
shares
% of share
capital
1. Nordstjernan AB 30,393,716 27.96%
2. Oy Julius Tallberg Ab 12,207,229 11.23%
3. Nordea funds 5,496,369 5.06%
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 2,168,835 2.00%
7. Ramirent Plc 960,649 0.88%
8. Pensionsförsäkringsaktiebolaget Veritas 721,180 0.66%
9. Föreningen Konstsamfundet R.f 593,500 0.55%
10. The State Pension Fund 532,000 0.49%
Subtotal 10 largest shareholders 60,159,497 55.35%
Other shareholders 48,537,831 44.65%
Total number of shares 108,697,328 100.00%
*VWAP = Volume weighted average trading price

Rr results q4_2015_en_final

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