SlideShare a Scribd company logo
Half year financialreport2017
sales growth and
profitability
improvement
continued
TapioKolunsarka,presidentandCEO
Pierre Brorsson,CFO
AUGust2,2017
Seamless collaborationat redi
Ramirent keysupplier toone of Helsinki’smost
demandingconstruction sites, REDI, in the
heart of Kalasatama.
Netsales 338.7 (315.4) MEUR, up by
7.4% or 7.9% at comparable exchange
rates
COMPARABLE EBITA 38.6 (24.8) MEUR or
11.4% (7.9%) of net sales
COMPARABLE EPS improved to EUR 0.20
(0.11)
Gross capex 94.0 (100.5) MEUR
Cashflow after investments − 10.9
(−30.5) MEUR
In 2017, Ramirent’s
comparable EBITA is
expectedto increase from
the level in 2016.
h1 17 highlights
goodperformance improvement in THE first half of the year
• We are satisfiedwith
our performance
improvement inH1 17
• We achievedgood
progress in our ongoing
turnaround activities
• Market conditions are
expectedto remain
favorable and we will stay
focusedon our basic
priorities to deliver a good
performance also in H2 17
CEO
COMMENTS
Ramirent’s
guidancefor2017
UNCHANGED
2Half YearFinancial Report2017
23.3 21.3 24.8
38.6
8.0 %
7.1 %
7.9 %
11.4 %
0%
2%
4%
6%
8%
10%
12%
14%
0
10
20
30
40
50
60
H1
2014
H2 H1
2015
H2 H1
2016
H2 H1
2017
H1 17 ebita increaseD driven by goodsales growth,
sales mixAND progressin turnaround actions
Half YearFinancial Report2017 3
MEUR
ComparableEBITA (MEUR) ComparableEBITA margin
Ramirent GroupComparableebita andebita margin developmentbyHALFYEAR
Q217 highlights
Sales growth and proFitabilityimprovement continued
4
Net sales 174.1 (169.4) MEUR, up by
2.8% or 4.2% at comparable
exchange rates
COMPARABLE EBITA 22.0 (17.5) MEUR
or 12.6% (10.3%) of net sales
COMPARABLE EPS improved to EUR
0.12 (0.09)
Gross capex 52.4 (60.1) MEUR
Cashflow after investments − 16.1
(−23.7) MEUR
CEO
COMMENTS
• Q2 17 was broadlyinline with our
expectations
• This year Easter being in Q2, versusin
Q1 last year,moderatedthesales growth
• Good growthin rentalsales and good
progressin turnaroundactionsin non-
performingunits,especiallyEurope
Central,improvedEBITA
Half YearFinancial Report2017
Q217 all segments except Denmark contributed
positivelyto ebita
Half YearFinancial Report2017 5
17.5
+0.5 +0.0 +0.3 -0.1 +0.6
+3.4 -0.3
22.0
0
5
10
15
20
25
Comparable
EBITAQ2 16
Finland Sweden Norway Denmark Baltics EuropeCentral Items not
allocatedto
segments
Comparable
EBITAQ2 17
ComparableEBITA Q2 16– Q217
Higherfixed costs and currency
movements
Continued strong
growth and execution
ofefficiency actions
MEUR
Sales decline morethan offset
by a good salesmix and cost
efficiency
We remain focused on ourKEY priorities
TOdeliver improved profitabilityin 2017
6
1. 3.
2. 4.
Reorganizationsof non-
performing units
Improvingsalesmix through
an increased focuson the
core general rentalbusiness
Focus on productivityand
cost reduction in IT and
external materialsand
servicesspend
Simplificationof pricingand
developmentof effective
pricingmanagement
Half YearFinancial Report2017
FINANCIAL
REVIEW
7Half YearFinancial Report2017
Goodsales growth in h1 17; q217 growthmoderated
by timingof easter period especially inNordic countries
Half YearFinancial Report2017 8
Netsales*bridge bysegmentq216– q217
169.4 174.1
140
150
160
170
180
190
200
Q22016
Finland
Sweden
Norway
Denmark
Baltics
EuropeCentral
Q22017
*Excludingsales betweensegments
Netsales*bridge bysegmentH116– H117
315.4
338.7
260
280
300
320
340
H12016
Finland
Sweden
Norway
Denmark
Baltics
EuropeCentral
H12017
*Excludingsales betweensegments
+2.7% +1.5% -6.5% -7.8% +14.1%
+30.7%
+7.0%
+6.4% +2.0% -5.6% +14.0%
+32.7%
MEURMEUR
315.4
338.7
260
280
300
320
340
H12016
Rentalsales
Servicesales
Salesofequipment
H12017
Q217 sales growth led
by good growthin rental sales
Half YearFinancial Report2017 9
Netsalesmixbridge H116–H117
169.4
174.1
140
150
160
170
180
190
200
Q22016
Rentalsales
Servicesales
Salesofequipment
Q22017
Netsalesmixbridge q216 – q217
MEURMEUR
+5.9% -2.9% +4.1%
+8.6%
+3.9% +19.5%
Q217 grossmargin improved in all segments
driven by an improved sales mix
Half YearFinancial Report2017 10
68.8%
66.0%
63.4% 63.1%
65.5%
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
Q2 Q3 Q4 Q1
2017
Q2
Quarterlygrossmargin QuarterlyNetsalessplit
65.0%
64.7% 62.6% 61.6% 63.5%
30.3%
31.5% 34.4% 34.5% 32.6%
4.7% 3.8% 3.0% 3.9% 3.9%
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
Q2 Q3 Q4 Q1
2017
Q2
Rental sales Service sales Sales of equipment
11
Q217 Both FIXED AND VARIABLE
COST PRODUCTIVITYimproveD
Variable costs(MEUR)andofnetsales% fixed costs(MEUR)andofnetsales%
61.5
58.6 60.0
65.5 66.2
38.3% 38.6%
37.6%
38.6% 38.0%
0%
10%
20%
30%
40%
50%
60%
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
Q2 Q3 Q4 Q1
2017
Q2
50.2 51.6
58.3
62.6
60.0
31.2 %
34.0 %
36.6 % 36.9 %
34.5 %
0%
10%
20%
30%
40%
50%
60%
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
Q2 Q3 Q4 Q1
2017
Q2
Half YearFinancial Report2017Variablecosts Fixedcosts % ofnetsales
12
Q217 investments in machinery
decreased year-on-year
Investmentsinmachinery(MEUR)and%of netsales
Half YearFinancial Report2017
MEUR
28.0
50.1
44.5
54.7
49.7
17.4 %
33.0 %
27.9 %
32.3 %
28.5 %
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
Q2 Q3 Q4 Q1
2017
Q2
Investmentsinmachineryandequipment %of netsales
cash flowfrom operations(MEUR)
Cash flowfrom investingactivities (mEUR)
-59.6
-52.0
Q2 16 Q2 17
13
Q217 cash flowdevelopment
Cashflowafterinvestments
-40
-20
0
20
40
60
80
Q1
2013
Q2 Q3 Q4 Q1
2014
Q2 Q3 Q4 Q1
2015
Q2 Q3 Q4 Q1
2016
Q2 Q3 Q4 Q1
2017
Q2
Half YearFinancial Report2017
35.9 35.9
Q2 16 Q2 17
MEUR
Cashflowafter investments,quarterly R12M
1.2X
1.6X
1.8X
2.1X 2.0x
0.0
0.5
1.0
1.5
2.0
2.5
3.0
Q1
2013
Q2 Q3 Q4 Q1
2014
Q2 Q3 Q4 Q1
2015
Q2 Q3 Q4 Q1
2016
Q2 Q3 Q4 Q1
2017
Q2
Q217 net debt to ebitda ratio strengthened
Half YearFinancial Report2017 14
QuarterlyNetdebt (MEUR) QuarterlyNetdebt to ebitda
264 273
297
354
379
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
Q2 Q3 Q4 Q1
2017
Q2
FINANCIALTARGET:
below 2.5xat theend
of each fiscal year
Welcome toour Capital markets day on DECember 1
Half YearFinancial Report2017 15
www.ramirent.com
Tapio Kolunsarka, President and CEO
Pierre Brorsson, EVP and CFO
Franciska Janzon, SVP, IR
16Half YearFinancial Report2017
the equipment rental market isexpected togrow in
2017supported by construction output
17
85
90
95
100
105
110
115
120
125
2014 2015 2016 2017
Constructionoutput(Index 2014= 100)
sweden
poland
sLOVAKIA
czechrepublic
norway
denmark
finland
baltics
+5.0%
+2.6%
+2.2%
+2.9%
+5.0%
+5.0%
+2.7%
n/a
+4.9%
+1.7%
+2.2%
+8.1%
+5.6%
0.0%
+4.0%
+3.1%
equipment
rental
2017E
construction
2017E
SOURCES:FORECON5/2017,ERAconvention5/2017ANDeuroconstruct6/2017
Half YearFinancial Report2017
Q217 Outcome of Ramirent’s financial targets
18Half YearFinancial Report2017
Net salesgrowth (R12M)
above GDP*+2%-points
RETURN ONEQUITY, ROE(R12M)
12%per fiscalyear
Net debt TO ebitda RATIO (r12M)
below 2.5xat endof eachfiscalyear
Dividendpay-out ratio
at least 40%ofNet Profit
5.7%
*Total GDP growth in Ramirent countries at 2.0% in 2016
Source: gdpgrowthfrom Handelsbanken,DanskeBank and Nordeareports
(at comparable
exchangerates)
11.4% (COMPARABLE roe 16.8%)
2.0X
195%
19
Q217 eps improved
Earningspershare(EPS)quarterly
0.11
0.07
0.12
0.08
0.12
-0.10
0.00
0.10
0.20
0.30
0.40
0.50
0.60
0.70
-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
Q3 Q1
2014
Q3 Q1
2015
Q3 Q1
2016
Q3 Q1
2017
Incomestatement (shortened) MEUR 4-6 17 4-6 16
EBIT 19.8 14.1
Financial income 2.7 2.3
Financial expenses -6.3 -5.3
Total financial income and expenses -3.6 -3.0
EBT 16.2 11.1
Income taxes -3.6 -2.3
RESULT FORTHEPERIOD 12.6 8.7
EPS (EUR) 0.12 0.08
Comparableeps (EUR) 0.12 0.09
Half YearFinancial Report2017
EUR
EPS,quarterly EPS,R12M
EUR
EPS,Quarterly
EPS,R12M
100
145
250
2017 2018 2019 2020 2021 2022
Debt maturity
Half YearFinancial Report2017 20
Interest-bearing liabilities
Interestrate types
Commercial
papers 54%
Bond 26%
Floating
49%
Fixed
51%
Average
interestrate
3.0%
Average
interestrate
0.4%
Committedcreditfacilities 495.0MEUR
Netdebt378.6 MEUR
Repaymentschedule ofinterest-bearing liabilities(MEUR)
Bond
Financial
institutions
20%
6.0
4.5
6.1 6.6
15.4 %
11.3 %
13.4 %
14.2 %
0%
2%
4%
6%
8%
10%
12%
14%
16%
18%
20%
22%
0
2
4
6
8
10
12
14
16
Q1
2014
Q2 Q3 Q4 Q1
2015
Q2 Q3 Q4 Q1
2016
Q2 Q3 Q4 Q1
2017
Q2
1.2
1.7
1.3
1.914.1 %
19.5 %
15.5 %
20.0 %
-5%
0%
5%
10%
15%
20%
25%
30%
35%
40%
-1
0
1
2
3
4
5
6
Q1
2014
Q2 Q3 Q4 Q1
2015
Q2 Q3 Q4 Q1
2016
Q2 Q3 Q4 Q1
2017
Q2
21Half YearFinancial Report2017
4.2
2.9
1.9 2.2
12.5 %
9.4 %
6.3 %
7.9 %
0%
2%
4%
6%
8%
10%
12%
14%
16%
18%
20%
22%
0
2
4
6
8
10
12
14
16
Q1
2014
Q2 Q3 Q4 Q1
2015
Q2 Q3 Q4 Q1
2016
Q2 Q3 Q4 Q1
2017
Q2
0.8 0.9 0.7
4.0
5.8 %
6.2 % 5.0 %
23.0 %
-16%
-12%
-8%
-4%
0%
4%
8%
12%
16%
20%
24%
-5
-4
-3
-2
-1
0
1
2
3
4
5
Q1
2014
Q2 Q3 Q4 Q1
2015
Q2 Q3 Q4 Q1
2016
Q2 Q3 Q4 Q1
2017
Q2
-1.7
0.3 0.5
0.3
-19.1 %
2.8 % 4.3 % 3.3 %
-20%
-16%
-12%
-8%
-4%
0%
4%
8%
12%
16%
-5
-4
-3
-2
-1
0
1
2
3
4
5
Q1
2014
Q2 Q3 Q4 Q1
2015
Q2 Q3 Q4 Q1
2016
Q2 Q3 Q4 Q1
2017
Q2
Q217 Profitabilityby segment
6.7
8.3 8.8 8.8
13.8 %
14.6 % 14.1 % 13.9 %
0%
2%
4%
6%
8%
10%
12%
14%
16%
18%
20%
22%
0
2
4
6
8
10
12
14
16
Q1
2014
Q2 Q3 Q4 Q1
2015
Q2 Q3 Q4 Q1
2016
Q2 Q3 Q4 Q1
2017
Q2
finland sweden NORWAY
DENMARK Baltics Europecentral
MEUR MEUR MEUR
MEUR MEURMEUR
Comparable EBITA (MEUR) Comparable EBITA margin
22
39.0 39.4
45.3 46.4
0
10
20
30
40
50
60
Q1
2014
Q2 Q3 Q4 Q1
2015
Q2 Q3 Q4 Q1
2016
Q2 Q3 Q4 Q1
2017
Q2
15.4%
11.3%
13.4% 14.2%
19.9%
14.2%
18.6% 17.2%
0%
5%
10%
15%
20%
25%
Q1
2014
Q2 Q3 Q4 Q1
2015
Q2 Q3 Q4 Q1
2016
Q2 Q3 Q4 Q1
2017
Q2
ComparableEBITA-margin (%) ComparableROCE (%)R12
Netsales (MEUR)
ComparableEBITA marginandcomparableROCE
Construction
output 2017E +1.7%# 1
Market
position
Customer
centeRs
56
Net sales growth was supportedby solid
demand in the constructionsector.Slower
progress in some of the larger projects
moderatedthe growth
Ramirent and Meyer Turku Oy renewed
their cooperationagreement at the Turku
shipyarduntil 2020
EBITA improvedslightly due to volume
growth
Finland q217 EBITA improved slightlydue tovolume
growth
Sources: euroconstruct6/2017 Half YearFinancial Report2017
Up by 2.4%
23
49.0
56.8
62.1 63.2
0
10
20
30
40
50
60
70
Q1
2014
Q2 Q3 Q4 Q1
2015
Q2 Q3 Q4 Q1
2016
Q2 Q3 Q4 Q1
2017
Q2
13.8% 14.6%
14.1%
13.9%
16.7%
16.2%
12.6%
14.4%
0%
5%
10%
15%
20%
Q1
2014
Q2 Q3 Q4 Q1
2015
Q2 Q3 Q4 Q1
2016
Q2 Q3 Q4 Q1
2017
Q2
ComparableEBITA-margin (%) ComparableROCE (%)R12
Netsales (MEUR)
Construction
output 2017E
+8.1%# 2
Market
position
Customer
centers
79
The sales mix remainedfavorable based on
healthy growth in rental sales
Sales grew also as a result of trading of
used equipment
EBITA was marginally above previous
year’s level due to higher fixedcosts,
depreciationand currency movements
Sweden q2 17profitabilityimpacted by higher fixed
costsand currency movements
Half YearFinancial Report2017
ComparableEBITA marginandcomparableROCE
Up by 1.9% or 6.3%
at comparable
exchange rates
Sources: EUROCONSTRUCt6/2017
24
33.8
31.0 29.9
27.9
0
5
10
15
20
25
30
35
40
Q1
2014
Q2 Q3 Q4 Q1
2015
Q2 Q3 Q4 Q1
2016
Q2 Q3 Q4 Q1
2017
Q2
12.5%
9.4%
6.3%
7.9%
9.5%
8.2%
3.3% 4.6%
0%
5%
10%
15%
20%
Q1
2014
Q2 Q3 Q4 Q1
2015
Q2 Q3 Q4 Q1
2016
Q2 Q3 Q4 Q1
2017
Q2
ComparableEBITA-margin (%) ComparableROCE (%)R12
Netsales (MEUR)
Construction
output 2017E +5.6%# 1
Market
position
Customer
centers
42
Sales declined due to modest demand
development in the market
EBITA increasedbased on a good sales mix, cost
efficiencyand progress in refocusing the
Temporary Space business
Agreement signed for the sale and
leaseback of facilities inEnebakk hub
(expectedto be effective inQ3 17)
norway q2 17ebita improved despite decline in sales
Half YearFinancial Report2017
ComparableEBITA marginandcomparableROCE
Down by -6.6% or
-6.1% at comparable
exchange rates
Sources: Euroconstruct6/2017
25
9.1
10.6 10.8
9.8
0
2
4
6
8
10
12
14
Q1
2014
Q2 Q3 Q4 Q1
2015
Q2 Q3 Q4 Q1
2016
Q2 Q3 Q4 Q1
2017
Q2
-19.1%
2.8% 4.3% 3.3%
-16.6%
-8.6%
7.9%
5.9%
-25%
-20%
-15%
-10%
-5%
0%
5%
10%
15%
Q1
2014
Q2 Q3 Q4 Q1
2015
Q2 Q3 Q4 Q1
2016
Q2 Q3 Q4 Q1
2017
Q2
ComparableEBITA-margin (%) ComparableROCE (%)R12
Netsales (MEUR)
Construction
output 2017E +2.2%# 3
Market
position
Customer
centeRs
13
Demand in the equipment rental market
was slow in the quarter
Sales decreaseddue to slow activityin
the constructionsector
A goodsales mix and continuedgood
cost efficiencywere not enoughto offset
the negative impact onEBITA of lower
volumes
denmark q2 17Sales declineD due toslowmarket
activity
Half YearFinancial Report2017
ComparableEBITA marginandcomparableROCE
Down by -9.0% or
-9.0% at comparable
exchange rates
Sources: Euroconstruct6/2017
26
8.2 8.5 8.4
9.5
0
2
4
6
8
10
12
Q1
2014
Q2 Q3 Q4 Q1
2015
Q2 Q3 Q4 Q1
2016
Q2 Q3 Q4 Q1
2017
Q2
14.1%
19.5%
15.5%
20.0%
13.4%
17.0%
12.7% 12.9%
0%
5%
10%
15%
20%
25%
30%
35%
Q1
2014
Q2 Q3 Q4 Q1
2015
Q2 Q3 Q4 Q1
2016
Q2 Q3 Q4 Q1
2017
Q2
ComparableEBITA-margin (%) ComparableROCE (%)R12
Netsales (MEUR)
Construction
output 2017E +3.1%# 1
Market
position
Customer
centeRs
45
Sales grew in all Baltic States
Especiallypleasing was also strong sales
growth in Latvia, which was supported
by a recent pick-up in market activity
Volume growth, sales mix and continued
good cost efficiencyimprovedEBITA
Balticsq2 17Continued good development,
Activitypicked-up alsoin Latvia
Half YearFinancial Report2017
ComparableEBITA marginandcomparableROCE
Up by 14.1%
Sources: Euroconstruct6/2017
+6.0%
(LATVIA)
+3.0%
(ESTONIA)
+1.0%
(LITHUANIA)
+4.0%
(SLOVAKIA)
The sales mix remainedfavorable due to
strong growth in rental sales
Rental sales growth was especially
strong in Poland where increasing
market activitywas driving volume growth
EBITA grew basedon strong volume growth,
favorable sales mix and improvedcost
efficiency
27
13.3 13.7 13.4
17.5
0
2
4
6
8
10
12
14
16
18
Q1
2014
Q2 Q3 Q4 Q1
2015
Q2 Q3 Q4 Q1
2016
Q2 Q3 Q4 Q1
2017
Q2
5.8% 6.2% 5.0%
23.0%
3.1%
6.3%
5.0%
16.4%
-15%
-5%
5%
15%
25%
Q1
2014
Q2 Q3 Q4 Q1
2015
Q2 Q3 Q4 Q1
2016
Q2 Q3 Q4 Q1
2017
Q2
ComparableEBITA-margin (%) ComparableROCE (%)R12
Netsales (MEUR)
Construction
output 2017E
+4.9%
# 1
Market
position
Customer
centeRs
63
Europe central q217 strongPROFITABLE sales growth
continued
Half YearFinancial Report2017
ComparableEBITA marginandcomparableROCE
Up by 30.3% or
26.6% at
comparable
exchange rates
Sources: Euroconstruct6/2017
(poLAND)
+0.0%
(Czechrepublic)
28Half YearFinancial Report2017Source:Europeanrentalassociation10/2016
Rental penetration inEurope
–Sweden and Norway among the topthree
0.5%
0.7%
0.7%
0.7%
0.8%
0.8%
1.1%
1.2%
1.6%
1.6%
1.6%
1.6%
1.8%
2.6%
3.5%
0.0% 0.5% 1.0% 1.5% 2.0% 2.5% 3.0% 3.5% 4.0%
Poland
Spain
The Czech Republic
Switzerland
Austria
Italy
Belgium
The Netherlands
Denmark
Finland
France
Germany
Norway
United Kingdom
Sweden
• European equipment rental
market size app.
EUR 24 billion
• Fragmented industry – over
15,000 rental companies
• Average rental penetration
in Europe at 1.6%
• European equipment rental
market grew by 2.8% in
2016 and is expected to
grow by 1.9% in 2017
Rental penetration rate: Rental Turnover /Total construction output
Low penetration 0.0% –1.0%
Medium penetration 1.0% –3.0%
High penetration >3.0%
Rental penetration rate bycountry
aleading equipment rental GROUP
serving alarge customer base
Half YearFinancial Report2017 29
market leader in8countries
~2,800employees
~150,000customers
10COUNTRIES
~300locations
~25,000equipmenttypes
665MEUR annual
sales (2016)
Russia and Ukraine
presence through JV
Fortrent
Sales split H1 2017
Sweden 36%
finland26%
Norway 17%
denmark6%
BALTICS5%
e. central 10%
Construction
54%
Industrial
18%
Services &
retail 20% 4% Other
Publicsector
3%
Household
1%
BENEFITS OF rentING
iMPROVED productivity
30
ECO-EFFICIENCY
• Environmentalloading is
reduced if more people
use the same machine
flexibility
• Proximity
• Delivery on site
• Easierand quicker to
rent versus buying
Productivity
• State-of-the art equipment
• Right machine for the task
• Use it when you need it
• Improved cost control
• Release of capital for core
business
safety
• Pre-rental safetycheck
• Regulation compliance
• Well maintainedfleet
Half YearFinancial Report2017
Temporary
spacesafety
Merchandise
sales
training
Equipment rental one-stop-shop
31
rental service
Lightmachinery Heavy machinery lifts
Tower cranes
&hoists
Power
&heating
planning
Logisticsandfuel services
Site services
Scaffolding&
Weather
protection
Half YearFinancial Report2017

More Related Content

What's hot

Qliro Group Q4 2015
Qliro Group Q4 2015Qliro Group Q4 2015
Qliro Group Q4 2015
qlirogroup
 
Qliro group q2 2015 inc ytd 20150716.pdf
Qliro group q2 2015 inc ytd 20150716.pdfQliro group q2 2015 inc ytd 20150716.pdf
Qliro group q2 2015 inc ytd 20150716.pdf
Qliro Group AB
 
Brisa investor presentation 2014 q2 bulletin
Brisa investor presentation 2014 q2 bulletinBrisa investor presentation 2014 q2 bulletin
Brisa investor presentation 2014 q2 bulletin
BrisaTurkey
 
Hyderabad Real Estate Report H1 2017 Presentation
Hyderabad Real Estate Report H1 2017 PresentationHyderabad Real Estate Report H1 2017 Presentation
Hyderabad Real Estate Report H1 2017 Presentation
Knight Frank India
 
Qliro group presentation Q1 2017
Qliro group presentation Q1 2017Qliro group presentation Q1 2017
Qliro group presentation Q1 2017
qlirogroup
 
Q3 Financial presentation
Q3 Financial presentationQ3 Financial presentation
Q3 Financial presentation
Qliro Group AB
 
SEGRO plc 2020 Half Year Results
SEGRO plc 2020 Half Year ResultsSEGRO plc 2020 Half Year Results
SEGRO plc 2020 Half Year Results
SEGRO plc
 
Deutsche EuroShop | Conference Call Presentation - Half-Year Financial Report...
Deutsche EuroShop | Conference Call Presentation - Half-Year Financial Report...Deutsche EuroShop | Conference Call Presentation - Half-Year Financial Report...
Deutsche EuroShop | Conference Call Presentation - Half-Year Financial Report...
Deutsche EuroShop AG
 
Grant Thornton/ICAEW Business Confidence Monitor Q2 2014
Grant Thornton/ICAEW Business Confidence Monitor Q2 2014Grant Thornton/ICAEW Business Confidence Monitor Q2 2014
Grant Thornton/ICAEW Business Confidence Monitor Q2 2014
Grant Thornton UK LLP
 
Technopolis Plc Interim Report
Technopolis Plc Interim ReportTechnopolis Plc Interim Report
Technopolis Plc Interim Report
Technopolis Plc
 
Qliro Group AB (publ.) Q4/FY 2014 Financial presentation
Qliro Group AB (publ.) Q4/FY 2014 Financial presentationQliro Group AB (publ.) Q4/FY 2014 Financial presentation
Qliro Group AB (publ.) Q4/FY 2014 Financial presentation
qlirogroup
 
AT&S Annual Financial Report 2015/16
AT&S Annual Financial Report 2015/16AT&S Annual Financial Report 2015/16
AT&S Annual Financial Report 2015/16
AT&S_IR
 
Cdon group 2014 q3
Cdon group 2014 q3Cdon group 2014 q3
Cdon group 2014 q3
Qliro Group AB
 
Qliro Group Q1 2016
Qliro Group Q1 2016Qliro Group Q1 2016
Qliro Group Q1 2016
qlirogroup
 
CDON Group Q2 2013 presentation
CDON Group Q2 2013 presentationCDON Group Q2 2013 presentation
CDON Group Q2 2013 presentation
Qliro Group AB
 
Presentazione risultati primo semestre 2017
Presentazione risultati primo semestre 2017Presentazione risultati primo semestre 2017
Presentazione risultati primo semestre 2017
Italiaonline
 
Rockwell Automation Q2 FY17 Earnings Presentation
Rockwell Automation Q2 FY17 Earnings PresentationRockwell Automation Q2 FY17 Earnings Presentation
Rockwell Automation Q2 FY17 Earnings Presentation
RockwellAutomationIR
 
Financial Presentation Q1 2014
Financial Presentation Q1 2014Financial Presentation Q1 2014
Financial Presentation Q1 2014
Qliro Group AB
 
Suominen Corporation results Q4 and FY2016
Suominen Corporation results Q4 and FY2016Suominen Corporation results Q4 and FY2016
Suominen Corporation results Q4 and FY2016
Suominen Corporation
 
Q4 and Full year Financial Presentation
Q4 and Full year Financial PresentationQ4 and Full year Financial Presentation
Q4 and Full year Financial Presentation
Qliro Group AB
 

What's hot (20)

Qliro Group Q4 2015
Qliro Group Q4 2015Qliro Group Q4 2015
Qliro Group Q4 2015
 
Qliro group q2 2015 inc ytd 20150716.pdf
Qliro group q2 2015 inc ytd 20150716.pdfQliro group q2 2015 inc ytd 20150716.pdf
Qliro group q2 2015 inc ytd 20150716.pdf
 
Brisa investor presentation 2014 q2 bulletin
Brisa investor presentation 2014 q2 bulletinBrisa investor presentation 2014 q2 bulletin
Brisa investor presentation 2014 q2 bulletin
 
Hyderabad Real Estate Report H1 2017 Presentation
Hyderabad Real Estate Report H1 2017 PresentationHyderabad Real Estate Report H1 2017 Presentation
Hyderabad Real Estate Report H1 2017 Presentation
 
Qliro group presentation Q1 2017
Qliro group presentation Q1 2017Qliro group presentation Q1 2017
Qliro group presentation Q1 2017
 
Q3 Financial presentation
Q3 Financial presentationQ3 Financial presentation
Q3 Financial presentation
 
SEGRO plc 2020 Half Year Results
SEGRO plc 2020 Half Year ResultsSEGRO plc 2020 Half Year Results
SEGRO plc 2020 Half Year Results
 
Deutsche EuroShop | Conference Call Presentation - Half-Year Financial Report...
Deutsche EuroShop | Conference Call Presentation - Half-Year Financial Report...Deutsche EuroShop | Conference Call Presentation - Half-Year Financial Report...
Deutsche EuroShop | Conference Call Presentation - Half-Year Financial Report...
 
Grant Thornton/ICAEW Business Confidence Monitor Q2 2014
Grant Thornton/ICAEW Business Confidence Monitor Q2 2014Grant Thornton/ICAEW Business Confidence Monitor Q2 2014
Grant Thornton/ICAEW Business Confidence Monitor Q2 2014
 
Technopolis Plc Interim Report
Technopolis Plc Interim ReportTechnopolis Plc Interim Report
Technopolis Plc Interim Report
 
Qliro Group AB (publ.) Q4/FY 2014 Financial presentation
Qliro Group AB (publ.) Q4/FY 2014 Financial presentationQliro Group AB (publ.) Q4/FY 2014 Financial presentation
Qliro Group AB (publ.) Q4/FY 2014 Financial presentation
 
AT&S Annual Financial Report 2015/16
AT&S Annual Financial Report 2015/16AT&S Annual Financial Report 2015/16
AT&S Annual Financial Report 2015/16
 
Cdon group 2014 q3
Cdon group 2014 q3Cdon group 2014 q3
Cdon group 2014 q3
 
Qliro Group Q1 2016
Qliro Group Q1 2016Qliro Group Q1 2016
Qliro Group Q1 2016
 
CDON Group Q2 2013 presentation
CDON Group Q2 2013 presentationCDON Group Q2 2013 presentation
CDON Group Q2 2013 presentation
 
Presentazione risultati primo semestre 2017
Presentazione risultati primo semestre 2017Presentazione risultati primo semestre 2017
Presentazione risultati primo semestre 2017
 
Rockwell Automation Q2 FY17 Earnings Presentation
Rockwell Automation Q2 FY17 Earnings PresentationRockwell Automation Q2 FY17 Earnings Presentation
Rockwell Automation Q2 FY17 Earnings Presentation
 
Financial Presentation Q1 2014
Financial Presentation Q1 2014Financial Presentation Q1 2014
Financial Presentation Q1 2014
 
Suominen Corporation results Q4 and FY2016
Suominen Corporation results Q4 and FY2016Suominen Corporation results Q4 and FY2016
Suominen Corporation results Q4 and FY2016
 
Q4 and Full year Financial Presentation
Q4 and Full year Financial PresentationQ4 and Full year Financial Presentation
Q4 and Full year Financial Presentation
 

Similar to Ramirent H1 17 presentation

Rr q4 2016_presentation_final
Rr q4 2016_presentation_finalRr q4 2016_presentation_final
Rr q4 2016_presentation_final
Ramirent Group
 
Full Year 2017 Results / Technopolis Plc
Full Year 2017 Results / Technopolis PlcFull Year 2017 Results / Technopolis Plc
Full Year 2017 Results / Technopolis Plc
Technopolis Plc
 
Metso Financial Statements Review 2017 presentation
Metso Financial Statements Review 2017 presentationMetso Financial Statements Review 2017 presentation
Metso Financial Statements Review 2017 presentation
Metso Group
 
Suominen Corporation results Q3 2017
Suominen Corporation results Q3 2017Suominen Corporation results Q3 2017
Suominen Corporation results Q3 2017
Suominen Corporation
 
Leonardo First Half 2017 results presentation
Leonardo First Half 2017 results presentationLeonardo First Half 2017 results presentation
Leonardo First Half 2017 results presentation
Leonardo
 
Suominen Corporation results Q2 2017
Suominen Corporation results Q2 2017Suominen Corporation results Q2 2017
Suominen Corporation results Q2 2017
Suominen Corporation
 
Leonardo Full-Year 2017 Presentation
Leonardo Full-Year 2017 PresentationLeonardo Full-Year 2017 Presentation
Leonardo Full-Year 2017 Presentation
Leonardo
 
HeidelbergCement reports results for the third quarter of 2017
HeidelbergCement reports results for the third quarter of 2017 HeidelbergCement reports results for the third quarter of 2017
HeidelbergCement reports results for the third quarter of 2017
HeidelbergCement
 
Leonardo 1Q 2017 Results Presentation
Leonardo 1Q 2017 Results PresentationLeonardo 1Q 2017 Results Presentation
Leonardo 1Q 2017 Results Presentation
Leonardo
 
Technopolis Presentation Q2
Technopolis Presentation Q2Technopolis Presentation Q2
Technopolis Presentation Q2
Technopolis Plc
 
Generali Group Results at 31 December 2016
Generali Group Results at 31 December 2016Generali Group Results at 31 December 2016
Generali Group Results at 31 December 2016
Generali
 
Klöckner & Co SE - Q2 2017 Results - Press Conference
Klöckner & Co SE - Q2 2017 Results - Press ConferenceKlöckner & Co SE - Q2 2017 Results - Press Conference
Klöckner & Co SE - Q2 2017 Results - Press Conference
Klöckner & Co SE
 
Leonardo First Half 2018 results presentation
Leonardo First Half 2018 results presentationLeonardo First Half 2018 results presentation
Leonardo First Half 2018 results presentation
Leonardo
 
Rr results q1_2016_en_final2
Rr results q1_2016_en_final2Rr results q1_2016_en_final2
Rr results q1_2016_en_final2
Ramirent Group
 
Ahlstrom-Munksjö presentation Q3 2017
Ahlstrom-Munksjö presentation Q3 2017Ahlstrom-Munksjö presentation Q3 2017
Ahlstrom-Munksjö presentation Q3 2017
Ahlstrom-Munksjö
 
Generali Group 2017 First Half Results
Generali Group 2017 First Half ResultsGenerali Group 2017 First Half Results
Generali Group 2017 First Half Results
Generali
 
Afrox 2017 Annual Results Presentation on 22 February 2018
Afrox 2017 Annual Results Presentation on 22 February 2018Afrox 2017 Annual Results Presentation on 22 February 2018
Afrox 2017 Annual Results Presentation on 22 February 2018
Simon Miller
 
Ageas reports 6M 2017 result
Ageas reports 6M 2017 resultAgeas reports 6M 2017 result
Ageas reports 6M 2017 result
Ageas
 
Preliminary Results FY 2016 / Acquisition Details Olympia Center Brno
Preliminary Results FY 2016 / Acquisition Details Olympia Center BrnoPreliminary Results FY 2016 / Acquisition Details Olympia Center Brno
Preliminary Results FY 2016 / Acquisition Details Olympia Center Brno
Deutsche EuroShop AG
 
Rr results q1_2015_en_final
Rr results q1_2015_en_finalRr results q1_2015_en_final
Rr results q1_2015_en_final
Annika Berg
 

Similar to Ramirent H1 17 presentation (20)

Rr q4 2016_presentation_final
Rr q4 2016_presentation_finalRr q4 2016_presentation_final
Rr q4 2016_presentation_final
 
Full Year 2017 Results / Technopolis Plc
Full Year 2017 Results / Technopolis PlcFull Year 2017 Results / Technopolis Plc
Full Year 2017 Results / Technopolis Plc
 
Metso Financial Statements Review 2017 presentation
Metso Financial Statements Review 2017 presentationMetso Financial Statements Review 2017 presentation
Metso Financial Statements Review 2017 presentation
 
Suominen Corporation results Q3 2017
Suominen Corporation results Q3 2017Suominen Corporation results Q3 2017
Suominen Corporation results Q3 2017
 
Leonardo First Half 2017 results presentation
Leonardo First Half 2017 results presentationLeonardo First Half 2017 results presentation
Leonardo First Half 2017 results presentation
 
Suominen Corporation results Q2 2017
Suominen Corporation results Q2 2017Suominen Corporation results Q2 2017
Suominen Corporation results Q2 2017
 
Leonardo Full-Year 2017 Presentation
Leonardo Full-Year 2017 PresentationLeonardo Full-Year 2017 Presentation
Leonardo Full-Year 2017 Presentation
 
HeidelbergCement reports results for the third quarter of 2017
HeidelbergCement reports results for the third quarter of 2017 HeidelbergCement reports results for the third quarter of 2017
HeidelbergCement reports results for the third quarter of 2017
 
Leonardo 1Q 2017 Results Presentation
Leonardo 1Q 2017 Results PresentationLeonardo 1Q 2017 Results Presentation
Leonardo 1Q 2017 Results Presentation
 
Technopolis Presentation Q2
Technopolis Presentation Q2Technopolis Presentation Q2
Technopolis Presentation Q2
 
Generali Group Results at 31 December 2016
Generali Group Results at 31 December 2016Generali Group Results at 31 December 2016
Generali Group Results at 31 December 2016
 
Klöckner & Co SE - Q2 2017 Results - Press Conference
Klöckner & Co SE - Q2 2017 Results - Press ConferenceKlöckner & Co SE - Q2 2017 Results - Press Conference
Klöckner & Co SE - Q2 2017 Results - Press Conference
 
Leonardo First Half 2018 results presentation
Leonardo First Half 2018 results presentationLeonardo First Half 2018 results presentation
Leonardo First Half 2018 results presentation
 
Rr results q1_2016_en_final2
Rr results q1_2016_en_final2Rr results q1_2016_en_final2
Rr results q1_2016_en_final2
 
Ahlstrom-Munksjö presentation Q3 2017
Ahlstrom-Munksjö presentation Q3 2017Ahlstrom-Munksjö presentation Q3 2017
Ahlstrom-Munksjö presentation Q3 2017
 
Generali Group 2017 First Half Results
Generali Group 2017 First Half ResultsGenerali Group 2017 First Half Results
Generali Group 2017 First Half Results
 
Afrox 2017 Annual Results Presentation on 22 February 2018
Afrox 2017 Annual Results Presentation on 22 February 2018Afrox 2017 Annual Results Presentation on 22 February 2018
Afrox 2017 Annual Results Presentation on 22 February 2018
 
Ageas reports 6M 2017 result
Ageas reports 6M 2017 resultAgeas reports 6M 2017 result
Ageas reports 6M 2017 result
 
Preliminary Results FY 2016 / Acquisition Details Olympia Center Brno
Preliminary Results FY 2016 / Acquisition Details Olympia Center BrnoPreliminary Results FY 2016 / Acquisition Details Olympia Center Brno
Preliminary Results FY 2016 / Acquisition Details Olympia Center Brno
 
Rr results q1_2015_en_final
Rr results q1_2015_en_finalRr results q1_2015_en_final
Rr results q1_2015_en_final
 

More from Ramirent Group

Rr q3 2016_presentation_final_final
Rr q3 2016_presentation_final_finalRr q3 2016_presentation_final_final
Rr q3 2016_presentation_final_final
Ramirent Group
 
Rr results q4_2015_en_final
Rr results q4_2015_en_finalRr results q4_2015_en_final
Rr results q4_2015_en_final
Ramirent Group
 
Rr results q3_2015_en_final
Rr results q3_2015_en_finalRr results q3_2015_en_final
Rr results q3_2015_en_final
Ramirent Group
 
Rr results q2_2015_en_final
Rr results q2_2015_en_finalRr results q2_2015_en_final
Rr results q2_2015_en_final
Ramirent Group
 
Ramirent Financial Statement Bulletin 2013
Ramirent Financial Statement Bulletin 2013Ramirent Financial Statement Bulletin 2013
Ramirent Financial Statement Bulletin 2013Ramirent Group
 
Rr results q3_2013_en_final
Rr results q3_2013_en_finalRr results q3_2013_en_final
Rr results q3_2013_en_finalRamirent Group
 
Rr results q2_2013_en_final
Rr results q2_2013_en_finalRr results q2_2013_en_final
Rr results q2_2013_en_final
Ramirent Group
 
Ramirent Interim Report Q1_2013
Ramirent Interim Report Q1_2013Ramirent Interim Report Q1_2013
Ramirent Interim Report Q1_2013Ramirent Group
 
Rr results q4_2012_en_final
Rr results q4_2012_en_finalRr results q4_2012_en_final
Rr results q4_2012_en_finalRamirent Group
 
Rr results q3_2012_final
Rr results q3_2012_finalRr results q3_2012_final
Rr results q3_2012_final
Ramirent Group
 
Rr results q2_2012_final
Rr results q2_2012_finalRr results q2_2012_final
Rr results q2_2012_finalRamirent Group
 
Ramirent Q1 2012
Ramirent Q1 2012Ramirent Q1 2012
Ramirent Q1 2012
Ramirent Group
 
Ramirent Q4 2011
Ramirent Q4 2011Ramirent Q4 2011
Ramirent Q4 2011
Ramirent Group
 
Ramirent Q3 2011
Ramirent Q3 2011Ramirent Q3 2011
Ramirent Q3 2011
Ramirent Group
 
Ramirent Q2 2011
Ramirent Q2 2011Ramirent Q2 2011
Ramirent Q2 2011
Ramirent Group
 
Ramirent Q1 2011
Ramirent Q1 2011Ramirent Q1 2011
Ramirent Q1 2011
Ramirent Group
 

More from Ramirent Group (16)

Rr q3 2016_presentation_final_final
Rr q3 2016_presentation_final_finalRr q3 2016_presentation_final_final
Rr q3 2016_presentation_final_final
 
Rr results q4_2015_en_final
Rr results q4_2015_en_finalRr results q4_2015_en_final
Rr results q4_2015_en_final
 
Rr results q3_2015_en_final
Rr results q3_2015_en_finalRr results q3_2015_en_final
Rr results q3_2015_en_final
 
Rr results q2_2015_en_final
Rr results q2_2015_en_finalRr results q2_2015_en_final
Rr results q2_2015_en_final
 
Ramirent Financial Statement Bulletin 2013
Ramirent Financial Statement Bulletin 2013Ramirent Financial Statement Bulletin 2013
Ramirent Financial Statement Bulletin 2013
 
Rr results q3_2013_en_final
Rr results q3_2013_en_finalRr results q3_2013_en_final
Rr results q3_2013_en_final
 
Rr results q2_2013_en_final
Rr results q2_2013_en_finalRr results q2_2013_en_final
Rr results q2_2013_en_final
 
Ramirent Interim Report Q1_2013
Ramirent Interim Report Q1_2013Ramirent Interim Report Q1_2013
Ramirent Interim Report Q1_2013
 
Rr results q4_2012_en_final
Rr results q4_2012_en_finalRr results q4_2012_en_final
Rr results q4_2012_en_final
 
Rr results q3_2012_final
Rr results q3_2012_finalRr results q3_2012_final
Rr results q3_2012_final
 
Rr results q2_2012_final
Rr results q2_2012_finalRr results q2_2012_final
Rr results q2_2012_final
 
Ramirent Q1 2012
Ramirent Q1 2012Ramirent Q1 2012
Ramirent Q1 2012
 
Ramirent Q4 2011
Ramirent Q4 2011Ramirent Q4 2011
Ramirent Q4 2011
 
Ramirent Q3 2011
Ramirent Q3 2011Ramirent Q3 2011
Ramirent Q3 2011
 
Ramirent Q2 2011
Ramirent Q2 2011Ramirent Q2 2011
Ramirent Q2 2011
 
Ramirent Q1 2011
Ramirent Q1 2011Ramirent Q1 2011
Ramirent Q1 2011
 

Recently uploaded

Tax System, Behaviour, Justice, and Voluntary Compliance Culture in Nigeria -...
Tax System, Behaviour, Justice, and Voluntary Compliance Culture in Nigeria -...Tax System, Behaviour, Justice, and Voluntary Compliance Culture in Nigeria -...
Tax System, Behaviour, Justice, and Voluntary Compliance Culture in Nigeria -...
Godwin Emmanuel Oyedokun MBA MSc PhD FCA FCTI FCNA CFE FFAR
 
^%$Zone1:+971)581248768’][* Legit & Safe #Abortion #Pills #For #Sale In #Duba...
^%$Zone1:+971)581248768’][* Legit & Safe #Abortion #Pills #For #Sale In #Duba...^%$Zone1:+971)581248768’][* Legit & Safe #Abortion #Pills #For #Sale In #Duba...
^%$Zone1:+971)581248768’][* Legit & Safe #Abortion #Pills #For #Sale In #Duba...
mayaclinic18
 
5 Tips for Creating Standard Financial Reports
5 Tips for Creating Standard Financial Reports5 Tips for Creating Standard Financial Reports
5 Tips for Creating Standard Financial Reports
EasyReports
 
Tdasx: Unveiling the Trillion-Dollar Potential of Bitcoin DeFi
Tdasx: Unveiling the Trillion-Dollar Potential of Bitcoin DeFiTdasx: Unveiling the Trillion-Dollar Potential of Bitcoin DeFi
Tdasx: Unveiling the Trillion-Dollar Potential of Bitcoin DeFi
nimaruinazawa258
 
一比一原版(UCSB毕业证)圣芭芭拉分校毕业证如何办理
一比一原版(UCSB毕业证)圣芭芭拉分校毕业证如何办理一比一原版(UCSB毕业证)圣芭芭拉分校毕业证如何办理
一比一原版(UCSB毕业证)圣芭芭拉分校毕业证如何办理
bbeucd
 
一比一原版(GWU,GW毕业证)加利福尼亚大学|尔湾分校毕业证如何办理
一比一原版(GWU,GW毕业证)加利福尼亚大学|尔湾分校毕业证如何办理一比一原版(GWU,GW毕业证)加利福尼亚大学|尔湾分校毕业证如何办理
一比一原版(GWU,GW毕业证)加利福尼亚大学|尔湾分校毕业证如何办理
obyzuk
 
一比一原版(UCL毕业证)伦敦大学|学院毕业证如何办理
一比一原版(UCL毕业证)伦敦大学|学院毕业证如何办理一比一原版(UCL毕业证)伦敦大学|学院毕业证如何办理
一比一原版(UCL毕业证)伦敦大学|学院毕业证如何办理
otogas
 
Scope Of Macroeconomics introduction and basic theories
Scope Of Macroeconomics introduction and basic theoriesScope Of Macroeconomics introduction and basic theories
Scope Of Macroeconomics introduction and basic theories
nomankalyar153
 
Instant Issue Debit Cards - School Designs
Instant Issue Debit Cards - School DesignsInstant Issue Debit Cards - School Designs
Instant Issue Debit Cards - School Designs
egoetzinger
 
Globalization (Nike) Presentation PPT Poster Infographic.pdf
Globalization (Nike) Presentation PPT Poster Infographic.pdfGlobalization (Nike) Presentation PPT Poster Infographic.pdf
Globalization (Nike) Presentation PPT Poster Infographic.pdf
VohnArchieEdjan
 
WhatsPump Thriving in the Whirlwind of Biden’s Crypto Roller Coaster
WhatsPump Thriving in the Whirlwind of Biden’s Crypto Roller CoasterWhatsPump Thriving in the Whirlwind of Biden’s Crypto Roller Coaster
WhatsPump Thriving in the Whirlwind of Biden’s Crypto Roller Coaster
muslimdavidovich670
 
Patronage and Good Governance 5.pptx pptc
Patronage and Good Governance 5.pptx pptcPatronage and Good Governance 5.pptx pptc
Patronage and Good Governance 5.pptx pptc
AbdulNasirNichari
 
The secret way to sell pi coins effortlessly.
The secret way to sell pi coins effortlessly.The secret way to sell pi coins effortlessly.
The secret way to sell pi coins effortlessly.
DOT TECH
 
how to sell pi coins in South Korea profitably.
how to sell pi coins in South Korea profitably.how to sell pi coins in South Korea profitably.
how to sell pi coins in South Korea profitably.
DOT TECH
 
The WhatsPump Pseudonym Problem and the Hilarious Downfall of Artificial Enga...
The WhatsPump Pseudonym Problem and the Hilarious Downfall of Artificial Enga...The WhatsPump Pseudonym Problem and the Hilarious Downfall of Artificial Enga...
The WhatsPump Pseudonym Problem and the Hilarious Downfall of Artificial Enga...
muslimdavidovich670
 
Intro_Economics_ GPresentation Week 4.pptx
Intro_Economics_ GPresentation Week 4.pptxIntro_Economics_ GPresentation Week 4.pptx
Intro_Economics_ GPresentation Week 4.pptx
shetivia
 
Analyzing the instability of equilibrium in thr harrod domar model
Analyzing the instability of equilibrium in thr harrod domar modelAnalyzing the instability of equilibrium in thr harrod domar model
Analyzing the instability of equilibrium in thr harrod domar model
ManthanBhardwaj4
 
An Overview of the Prosocial dHEDGE Vault works
An Overview of the Prosocial dHEDGE Vault worksAn Overview of the Prosocial dHEDGE Vault works
An Overview of the Prosocial dHEDGE Vault works
Colin R. Turner
 
一比一原版(UoB毕业证)伯明翰大学毕业证如何办理
一比一原版(UoB毕业证)伯明翰大学毕业证如何办理一比一原版(UoB毕业证)伯明翰大学毕业证如何办理
一比一原版(UoB毕业证)伯明翰大学毕业证如何办理
nexop1
 
How Non-Banking Financial Companies Empower Startups With Venture Debt Financing
How Non-Banking Financial Companies Empower Startups With Venture Debt FinancingHow Non-Banking Financial Companies Empower Startups With Venture Debt Financing
How Non-Banking Financial Companies Empower Startups With Venture Debt Financing
Vighnesh Shashtri
 

Recently uploaded (20)

Tax System, Behaviour, Justice, and Voluntary Compliance Culture in Nigeria -...
Tax System, Behaviour, Justice, and Voluntary Compliance Culture in Nigeria -...Tax System, Behaviour, Justice, and Voluntary Compliance Culture in Nigeria -...
Tax System, Behaviour, Justice, and Voluntary Compliance Culture in Nigeria -...
 
^%$Zone1:+971)581248768’][* Legit & Safe #Abortion #Pills #For #Sale In #Duba...
^%$Zone1:+971)581248768’][* Legit & Safe #Abortion #Pills #For #Sale In #Duba...^%$Zone1:+971)581248768’][* Legit & Safe #Abortion #Pills #For #Sale In #Duba...
^%$Zone1:+971)581248768’][* Legit & Safe #Abortion #Pills #For #Sale In #Duba...
 
5 Tips for Creating Standard Financial Reports
5 Tips for Creating Standard Financial Reports5 Tips for Creating Standard Financial Reports
5 Tips for Creating Standard Financial Reports
 
Tdasx: Unveiling the Trillion-Dollar Potential of Bitcoin DeFi
Tdasx: Unveiling the Trillion-Dollar Potential of Bitcoin DeFiTdasx: Unveiling the Trillion-Dollar Potential of Bitcoin DeFi
Tdasx: Unveiling the Trillion-Dollar Potential of Bitcoin DeFi
 
一比一原版(UCSB毕业证)圣芭芭拉分校毕业证如何办理
一比一原版(UCSB毕业证)圣芭芭拉分校毕业证如何办理一比一原版(UCSB毕业证)圣芭芭拉分校毕业证如何办理
一比一原版(UCSB毕业证)圣芭芭拉分校毕业证如何办理
 
一比一原版(GWU,GW毕业证)加利福尼亚大学|尔湾分校毕业证如何办理
一比一原版(GWU,GW毕业证)加利福尼亚大学|尔湾分校毕业证如何办理一比一原版(GWU,GW毕业证)加利福尼亚大学|尔湾分校毕业证如何办理
一比一原版(GWU,GW毕业证)加利福尼亚大学|尔湾分校毕业证如何办理
 
一比一原版(UCL毕业证)伦敦大学|学院毕业证如何办理
一比一原版(UCL毕业证)伦敦大学|学院毕业证如何办理一比一原版(UCL毕业证)伦敦大学|学院毕业证如何办理
一比一原版(UCL毕业证)伦敦大学|学院毕业证如何办理
 
Scope Of Macroeconomics introduction and basic theories
Scope Of Macroeconomics introduction and basic theoriesScope Of Macroeconomics introduction and basic theories
Scope Of Macroeconomics introduction and basic theories
 
Instant Issue Debit Cards - School Designs
Instant Issue Debit Cards - School DesignsInstant Issue Debit Cards - School Designs
Instant Issue Debit Cards - School Designs
 
Globalization (Nike) Presentation PPT Poster Infographic.pdf
Globalization (Nike) Presentation PPT Poster Infographic.pdfGlobalization (Nike) Presentation PPT Poster Infographic.pdf
Globalization (Nike) Presentation PPT Poster Infographic.pdf
 
WhatsPump Thriving in the Whirlwind of Biden’s Crypto Roller Coaster
WhatsPump Thriving in the Whirlwind of Biden’s Crypto Roller CoasterWhatsPump Thriving in the Whirlwind of Biden’s Crypto Roller Coaster
WhatsPump Thriving in the Whirlwind of Biden’s Crypto Roller Coaster
 
Patronage and Good Governance 5.pptx pptc
Patronage and Good Governance 5.pptx pptcPatronage and Good Governance 5.pptx pptc
Patronage and Good Governance 5.pptx pptc
 
The secret way to sell pi coins effortlessly.
The secret way to sell pi coins effortlessly.The secret way to sell pi coins effortlessly.
The secret way to sell pi coins effortlessly.
 
how to sell pi coins in South Korea profitably.
how to sell pi coins in South Korea profitably.how to sell pi coins in South Korea profitably.
how to sell pi coins in South Korea profitably.
 
The WhatsPump Pseudonym Problem and the Hilarious Downfall of Artificial Enga...
The WhatsPump Pseudonym Problem and the Hilarious Downfall of Artificial Enga...The WhatsPump Pseudonym Problem and the Hilarious Downfall of Artificial Enga...
The WhatsPump Pseudonym Problem and the Hilarious Downfall of Artificial Enga...
 
Intro_Economics_ GPresentation Week 4.pptx
Intro_Economics_ GPresentation Week 4.pptxIntro_Economics_ GPresentation Week 4.pptx
Intro_Economics_ GPresentation Week 4.pptx
 
Analyzing the instability of equilibrium in thr harrod domar model
Analyzing the instability of equilibrium in thr harrod domar modelAnalyzing the instability of equilibrium in thr harrod domar model
Analyzing the instability of equilibrium in thr harrod domar model
 
An Overview of the Prosocial dHEDGE Vault works
An Overview of the Prosocial dHEDGE Vault worksAn Overview of the Prosocial dHEDGE Vault works
An Overview of the Prosocial dHEDGE Vault works
 
一比一原版(UoB毕业证)伯明翰大学毕业证如何办理
一比一原版(UoB毕业证)伯明翰大学毕业证如何办理一比一原版(UoB毕业证)伯明翰大学毕业证如何办理
一比一原版(UoB毕业证)伯明翰大学毕业证如何办理
 
How Non-Banking Financial Companies Empower Startups With Venture Debt Financing
How Non-Banking Financial Companies Empower Startups With Venture Debt FinancingHow Non-Banking Financial Companies Empower Startups With Venture Debt Financing
How Non-Banking Financial Companies Empower Startups With Venture Debt Financing
 

Ramirent H1 17 presentation

  • 1. Half year financialreport2017 sales growth and profitability improvement continued TapioKolunsarka,presidentandCEO Pierre Brorsson,CFO AUGust2,2017 Seamless collaborationat redi Ramirent keysupplier toone of Helsinki’smost demandingconstruction sites, REDI, in the heart of Kalasatama.
  • 2. Netsales 338.7 (315.4) MEUR, up by 7.4% or 7.9% at comparable exchange rates COMPARABLE EBITA 38.6 (24.8) MEUR or 11.4% (7.9%) of net sales COMPARABLE EPS improved to EUR 0.20 (0.11) Gross capex 94.0 (100.5) MEUR Cashflow after investments − 10.9 (−30.5) MEUR In 2017, Ramirent’s comparable EBITA is expectedto increase from the level in 2016. h1 17 highlights goodperformance improvement in THE first half of the year • We are satisfiedwith our performance improvement inH1 17 • We achievedgood progress in our ongoing turnaround activities • Market conditions are expectedto remain favorable and we will stay focusedon our basic priorities to deliver a good performance also in H2 17 CEO COMMENTS Ramirent’s guidancefor2017 UNCHANGED 2Half YearFinancial Report2017
  • 3. 23.3 21.3 24.8 38.6 8.0 % 7.1 % 7.9 % 11.4 % 0% 2% 4% 6% 8% 10% 12% 14% 0 10 20 30 40 50 60 H1 2014 H2 H1 2015 H2 H1 2016 H2 H1 2017 H1 17 ebita increaseD driven by goodsales growth, sales mixAND progressin turnaround actions Half YearFinancial Report2017 3 MEUR ComparableEBITA (MEUR) ComparableEBITA margin Ramirent GroupComparableebita andebita margin developmentbyHALFYEAR
  • 4. Q217 highlights Sales growth and proFitabilityimprovement continued 4 Net sales 174.1 (169.4) MEUR, up by 2.8% or 4.2% at comparable exchange rates COMPARABLE EBITA 22.0 (17.5) MEUR or 12.6% (10.3%) of net sales COMPARABLE EPS improved to EUR 0.12 (0.09) Gross capex 52.4 (60.1) MEUR Cashflow after investments − 16.1 (−23.7) MEUR CEO COMMENTS • Q2 17 was broadlyinline with our expectations • This year Easter being in Q2, versusin Q1 last year,moderatedthesales growth • Good growthin rentalsales and good progressin turnaroundactionsin non- performingunits,especiallyEurope Central,improvedEBITA Half YearFinancial Report2017
  • 5. Q217 all segments except Denmark contributed positivelyto ebita Half YearFinancial Report2017 5 17.5 +0.5 +0.0 +0.3 -0.1 +0.6 +3.4 -0.3 22.0 0 5 10 15 20 25 Comparable EBITAQ2 16 Finland Sweden Norway Denmark Baltics EuropeCentral Items not allocatedto segments Comparable EBITAQ2 17 ComparableEBITA Q2 16– Q217 Higherfixed costs and currency movements Continued strong growth and execution ofefficiency actions MEUR Sales decline morethan offset by a good salesmix and cost efficiency
  • 6. We remain focused on ourKEY priorities TOdeliver improved profitabilityin 2017 6 1. 3. 2. 4. Reorganizationsof non- performing units Improvingsalesmix through an increased focuson the core general rentalbusiness Focus on productivityand cost reduction in IT and external materialsand servicesspend Simplificationof pricingand developmentof effective pricingmanagement Half YearFinancial Report2017
  • 8. Goodsales growth in h1 17; q217 growthmoderated by timingof easter period especially inNordic countries Half YearFinancial Report2017 8 Netsales*bridge bysegmentq216– q217 169.4 174.1 140 150 160 170 180 190 200 Q22016 Finland Sweden Norway Denmark Baltics EuropeCentral Q22017 *Excludingsales betweensegments Netsales*bridge bysegmentH116– H117 315.4 338.7 260 280 300 320 340 H12016 Finland Sweden Norway Denmark Baltics EuropeCentral H12017 *Excludingsales betweensegments +2.7% +1.5% -6.5% -7.8% +14.1% +30.7% +7.0% +6.4% +2.0% -5.6% +14.0% +32.7% MEURMEUR
  • 9. 315.4 338.7 260 280 300 320 340 H12016 Rentalsales Servicesales Salesofequipment H12017 Q217 sales growth led by good growthin rental sales Half YearFinancial Report2017 9 Netsalesmixbridge H116–H117 169.4 174.1 140 150 160 170 180 190 200 Q22016 Rentalsales Servicesales Salesofequipment Q22017 Netsalesmixbridge q216 – q217 MEURMEUR +5.9% -2.9% +4.1% +8.6% +3.9% +19.5%
  • 10. Q217 grossmargin improved in all segments driven by an improved sales mix Half YearFinancial Report2017 10 68.8% 66.0% 63.4% 63.1% 65.5% 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 Q2 Q3 Q4 Q1 2017 Q2 Quarterlygrossmargin QuarterlyNetsalessplit 65.0% 64.7% 62.6% 61.6% 63.5% 30.3% 31.5% 34.4% 34.5% 32.6% 4.7% 3.8% 3.0% 3.9% 3.9% 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 Q2 Q3 Q4 Q1 2017 Q2 Rental sales Service sales Sales of equipment
  • 11. 11 Q217 Both FIXED AND VARIABLE COST PRODUCTIVITYimproveD Variable costs(MEUR)andofnetsales% fixed costs(MEUR)andofnetsales% 61.5 58.6 60.0 65.5 66.2 38.3% 38.6% 37.6% 38.6% 38.0% 0% 10% 20% 30% 40% 50% 60% 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 Q2 Q3 Q4 Q1 2017 Q2 50.2 51.6 58.3 62.6 60.0 31.2 % 34.0 % 36.6 % 36.9 % 34.5 % 0% 10% 20% 30% 40% 50% 60% 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 Q2 Q3 Q4 Q1 2017 Q2 Half YearFinancial Report2017Variablecosts Fixedcosts % ofnetsales
  • 12. 12 Q217 investments in machinery decreased year-on-year Investmentsinmachinery(MEUR)and%of netsales Half YearFinancial Report2017 MEUR 28.0 50.1 44.5 54.7 49.7 17.4 % 33.0 % 27.9 % 32.3 % 28.5 % 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 Q2 Q3 Q4 Q1 2017 Q2 Investmentsinmachineryandequipment %of netsales
  • 13. cash flowfrom operations(MEUR) Cash flowfrom investingactivities (mEUR) -59.6 -52.0 Q2 16 Q2 17 13 Q217 cash flowdevelopment Cashflowafterinvestments -40 -20 0 20 40 60 80 Q1 2013 Q2 Q3 Q4 Q1 2014 Q2 Q3 Q4 Q1 2015 Q2 Q3 Q4 Q1 2016 Q2 Q3 Q4 Q1 2017 Q2 Half YearFinancial Report2017 35.9 35.9 Q2 16 Q2 17 MEUR Cashflowafter investments,quarterly R12M
  • 14. 1.2X 1.6X 1.8X 2.1X 2.0x 0.0 0.5 1.0 1.5 2.0 2.5 3.0 Q1 2013 Q2 Q3 Q4 Q1 2014 Q2 Q3 Q4 Q1 2015 Q2 Q3 Q4 Q1 2016 Q2 Q3 Q4 Q1 2017 Q2 Q217 net debt to ebitda ratio strengthened Half YearFinancial Report2017 14 QuarterlyNetdebt (MEUR) QuarterlyNetdebt to ebitda 264 273 297 354 379 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 Q2 Q3 Q4 Q1 2017 Q2 FINANCIALTARGET: below 2.5xat theend of each fiscal year
  • 15. Welcome toour Capital markets day on DECember 1 Half YearFinancial Report2017 15
  • 16. www.ramirent.com Tapio Kolunsarka, President and CEO Pierre Brorsson, EVP and CFO Franciska Janzon, SVP, IR 16Half YearFinancial Report2017
  • 17. the equipment rental market isexpected togrow in 2017supported by construction output 17 85 90 95 100 105 110 115 120 125 2014 2015 2016 2017 Constructionoutput(Index 2014= 100) sweden poland sLOVAKIA czechrepublic norway denmark finland baltics +5.0% +2.6% +2.2% +2.9% +5.0% +5.0% +2.7% n/a +4.9% +1.7% +2.2% +8.1% +5.6% 0.0% +4.0% +3.1% equipment rental 2017E construction 2017E SOURCES:FORECON5/2017,ERAconvention5/2017ANDeuroconstruct6/2017 Half YearFinancial Report2017
  • 18. Q217 Outcome of Ramirent’s financial targets 18Half YearFinancial Report2017 Net salesgrowth (R12M) above GDP*+2%-points RETURN ONEQUITY, ROE(R12M) 12%per fiscalyear Net debt TO ebitda RATIO (r12M) below 2.5xat endof eachfiscalyear Dividendpay-out ratio at least 40%ofNet Profit 5.7% *Total GDP growth in Ramirent countries at 2.0% in 2016 Source: gdpgrowthfrom Handelsbanken,DanskeBank and Nordeareports (at comparable exchangerates) 11.4% (COMPARABLE roe 16.8%) 2.0X 195%
  • 19. 19 Q217 eps improved Earningspershare(EPS)quarterly 0.11 0.07 0.12 0.08 0.12 -0.10 0.00 0.10 0.20 0.30 0.40 0.50 0.60 0.70 -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 Q3 Q1 2014 Q3 Q1 2015 Q3 Q1 2016 Q3 Q1 2017 Incomestatement (shortened) MEUR 4-6 17 4-6 16 EBIT 19.8 14.1 Financial income 2.7 2.3 Financial expenses -6.3 -5.3 Total financial income and expenses -3.6 -3.0 EBT 16.2 11.1 Income taxes -3.6 -2.3 RESULT FORTHEPERIOD 12.6 8.7 EPS (EUR) 0.12 0.08 Comparableeps (EUR) 0.12 0.09 Half YearFinancial Report2017 EUR EPS,quarterly EPS,R12M EUR EPS,Quarterly EPS,R12M
  • 20. 100 145 250 2017 2018 2019 2020 2021 2022 Debt maturity Half YearFinancial Report2017 20 Interest-bearing liabilities Interestrate types Commercial papers 54% Bond 26% Floating 49% Fixed 51% Average interestrate 3.0% Average interestrate 0.4% Committedcreditfacilities 495.0MEUR Netdebt378.6 MEUR Repaymentschedule ofinterest-bearing liabilities(MEUR) Bond Financial institutions 20%
  • 21. 6.0 4.5 6.1 6.6 15.4 % 11.3 % 13.4 % 14.2 % 0% 2% 4% 6% 8% 10% 12% 14% 16% 18% 20% 22% 0 2 4 6 8 10 12 14 16 Q1 2014 Q2 Q3 Q4 Q1 2015 Q2 Q3 Q4 Q1 2016 Q2 Q3 Q4 Q1 2017 Q2 1.2 1.7 1.3 1.914.1 % 19.5 % 15.5 % 20.0 % -5% 0% 5% 10% 15% 20% 25% 30% 35% 40% -1 0 1 2 3 4 5 6 Q1 2014 Q2 Q3 Q4 Q1 2015 Q2 Q3 Q4 Q1 2016 Q2 Q3 Q4 Q1 2017 Q2 21Half YearFinancial Report2017 4.2 2.9 1.9 2.2 12.5 % 9.4 % 6.3 % 7.9 % 0% 2% 4% 6% 8% 10% 12% 14% 16% 18% 20% 22% 0 2 4 6 8 10 12 14 16 Q1 2014 Q2 Q3 Q4 Q1 2015 Q2 Q3 Q4 Q1 2016 Q2 Q3 Q4 Q1 2017 Q2 0.8 0.9 0.7 4.0 5.8 % 6.2 % 5.0 % 23.0 % -16% -12% -8% -4% 0% 4% 8% 12% 16% 20% 24% -5 -4 -3 -2 -1 0 1 2 3 4 5 Q1 2014 Q2 Q3 Q4 Q1 2015 Q2 Q3 Q4 Q1 2016 Q2 Q3 Q4 Q1 2017 Q2 -1.7 0.3 0.5 0.3 -19.1 % 2.8 % 4.3 % 3.3 % -20% -16% -12% -8% -4% 0% 4% 8% 12% 16% -5 -4 -3 -2 -1 0 1 2 3 4 5 Q1 2014 Q2 Q3 Q4 Q1 2015 Q2 Q3 Q4 Q1 2016 Q2 Q3 Q4 Q1 2017 Q2 Q217 Profitabilityby segment 6.7 8.3 8.8 8.8 13.8 % 14.6 % 14.1 % 13.9 % 0% 2% 4% 6% 8% 10% 12% 14% 16% 18% 20% 22% 0 2 4 6 8 10 12 14 16 Q1 2014 Q2 Q3 Q4 Q1 2015 Q2 Q3 Q4 Q1 2016 Q2 Q3 Q4 Q1 2017 Q2 finland sweden NORWAY DENMARK Baltics Europecentral MEUR MEUR MEUR MEUR MEURMEUR Comparable EBITA (MEUR) Comparable EBITA margin
  • 22. 22 39.0 39.4 45.3 46.4 0 10 20 30 40 50 60 Q1 2014 Q2 Q3 Q4 Q1 2015 Q2 Q3 Q4 Q1 2016 Q2 Q3 Q4 Q1 2017 Q2 15.4% 11.3% 13.4% 14.2% 19.9% 14.2% 18.6% 17.2% 0% 5% 10% 15% 20% 25% Q1 2014 Q2 Q3 Q4 Q1 2015 Q2 Q3 Q4 Q1 2016 Q2 Q3 Q4 Q1 2017 Q2 ComparableEBITA-margin (%) ComparableROCE (%)R12 Netsales (MEUR) ComparableEBITA marginandcomparableROCE Construction output 2017E +1.7%# 1 Market position Customer centeRs 56 Net sales growth was supportedby solid demand in the constructionsector.Slower progress in some of the larger projects moderatedthe growth Ramirent and Meyer Turku Oy renewed their cooperationagreement at the Turku shipyarduntil 2020 EBITA improvedslightly due to volume growth Finland q217 EBITA improved slightlydue tovolume growth Sources: euroconstruct6/2017 Half YearFinancial Report2017 Up by 2.4%
  • 23. 23 49.0 56.8 62.1 63.2 0 10 20 30 40 50 60 70 Q1 2014 Q2 Q3 Q4 Q1 2015 Q2 Q3 Q4 Q1 2016 Q2 Q3 Q4 Q1 2017 Q2 13.8% 14.6% 14.1% 13.9% 16.7% 16.2% 12.6% 14.4% 0% 5% 10% 15% 20% Q1 2014 Q2 Q3 Q4 Q1 2015 Q2 Q3 Q4 Q1 2016 Q2 Q3 Q4 Q1 2017 Q2 ComparableEBITA-margin (%) ComparableROCE (%)R12 Netsales (MEUR) Construction output 2017E +8.1%# 2 Market position Customer centers 79 The sales mix remainedfavorable based on healthy growth in rental sales Sales grew also as a result of trading of used equipment EBITA was marginally above previous year’s level due to higher fixedcosts, depreciationand currency movements Sweden q2 17profitabilityimpacted by higher fixed costsand currency movements Half YearFinancial Report2017 ComparableEBITA marginandcomparableROCE Up by 1.9% or 6.3% at comparable exchange rates Sources: EUROCONSTRUCt6/2017
  • 24. 24 33.8 31.0 29.9 27.9 0 5 10 15 20 25 30 35 40 Q1 2014 Q2 Q3 Q4 Q1 2015 Q2 Q3 Q4 Q1 2016 Q2 Q3 Q4 Q1 2017 Q2 12.5% 9.4% 6.3% 7.9% 9.5% 8.2% 3.3% 4.6% 0% 5% 10% 15% 20% Q1 2014 Q2 Q3 Q4 Q1 2015 Q2 Q3 Q4 Q1 2016 Q2 Q3 Q4 Q1 2017 Q2 ComparableEBITA-margin (%) ComparableROCE (%)R12 Netsales (MEUR) Construction output 2017E +5.6%# 1 Market position Customer centers 42 Sales declined due to modest demand development in the market EBITA increasedbased on a good sales mix, cost efficiencyand progress in refocusing the Temporary Space business Agreement signed for the sale and leaseback of facilities inEnebakk hub (expectedto be effective inQ3 17) norway q2 17ebita improved despite decline in sales Half YearFinancial Report2017 ComparableEBITA marginandcomparableROCE Down by -6.6% or -6.1% at comparable exchange rates Sources: Euroconstruct6/2017
  • 25. 25 9.1 10.6 10.8 9.8 0 2 4 6 8 10 12 14 Q1 2014 Q2 Q3 Q4 Q1 2015 Q2 Q3 Q4 Q1 2016 Q2 Q3 Q4 Q1 2017 Q2 -19.1% 2.8% 4.3% 3.3% -16.6% -8.6% 7.9% 5.9% -25% -20% -15% -10% -5% 0% 5% 10% 15% Q1 2014 Q2 Q3 Q4 Q1 2015 Q2 Q3 Q4 Q1 2016 Q2 Q3 Q4 Q1 2017 Q2 ComparableEBITA-margin (%) ComparableROCE (%)R12 Netsales (MEUR) Construction output 2017E +2.2%# 3 Market position Customer centeRs 13 Demand in the equipment rental market was slow in the quarter Sales decreaseddue to slow activityin the constructionsector A goodsales mix and continuedgood cost efficiencywere not enoughto offset the negative impact onEBITA of lower volumes denmark q2 17Sales declineD due toslowmarket activity Half YearFinancial Report2017 ComparableEBITA marginandcomparableROCE Down by -9.0% or -9.0% at comparable exchange rates Sources: Euroconstruct6/2017
  • 26. 26 8.2 8.5 8.4 9.5 0 2 4 6 8 10 12 Q1 2014 Q2 Q3 Q4 Q1 2015 Q2 Q3 Q4 Q1 2016 Q2 Q3 Q4 Q1 2017 Q2 14.1% 19.5% 15.5% 20.0% 13.4% 17.0% 12.7% 12.9% 0% 5% 10% 15% 20% 25% 30% 35% Q1 2014 Q2 Q3 Q4 Q1 2015 Q2 Q3 Q4 Q1 2016 Q2 Q3 Q4 Q1 2017 Q2 ComparableEBITA-margin (%) ComparableROCE (%)R12 Netsales (MEUR) Construction output 2017E +3.1%# 1 Market position Customer centeRs 45 Sales grew in all Baltic States Especiallypleasing was also strong sales growth in Latvia, which was supported by a recent pick-up in market activity Volume growth, sales mix and continued good cost efficiencyimprovedEBITA Balticsq2 17Continued good development, Activitypicked-up alsoin Latvia Half YearFinancial Report2017 ComparableEBITA marginandcomparableROCE Up by 14.1% Sources: Euroconstruct6/2017 +6.0% (LATVIA) +3.0% (ESTONIA) +1.0% (LITHUANIA)
  • 27. +4.0% (SLOVAKIA) The sales mix remainedfavorable due to strong growth in rental sales Rental sales growth was especially strong in Poland where increasing market activitywas driving volume growth EBITA grew basedon strong volume growth, favorable sales mix and improvedcost efficiency 27 13.3 13.7 13.4 17.5 0 2 4 6 8 10 12 14 16 18 Q1 2014 Q2 Q3 Q4 Q1 2015 Q2 Q3 Q4 Q1 2016 Q2 Q3 Q4 Q1 2017 Q2 5.8% 6.2% 5.0% 23.0% 3.1% 6.3% 5.0% 16.4% -15% -5% 5% 15% 25% Q1 2014 Q2 Q3 Q4 Q1 2015 Q2 Q3 Q4 Q1 2016 Q2 Q3 Q4 Q1 2017 Q2 ComparableEBITA-margin (%) ComparableROCE (%)R12 Netsales (MEUR) Construction output 2017E +4.9% # 1 Market position Customer centeRs 63 Europe central q217 strongPROFITABLE sales growth continued Half YearFinancial Report2017 ComparableEBITA marginandcomparableROCE Up by 30.3% or 26.6% at comparable exchange rates Sources: Euroconstruct6/2017 (poLAND) +0.0% (Czechrepublic)
  • 28. 28Half YearFinancial Report2017Source:Europeanrentalassociation10/2016 Rental penetration inEurope –Sweden and Norway among the topthree 0.5% 0.7% 0.7% 0.7% 0.8% 0.8% 1.1% 1.2% 1.6% 1.6% 1.6% 1.6% 1.8% 2.6% 3.5% 0.0% 0.5% 1.0% 1.5% 2.0% 2.5% 3.0% 3.5% 4.0% Poland Spain The Czech Republic Switzerland Austria Italy Belgium The Netherlands Denmark Finland France Germany Norway United Kingdom Sweden • European equipment rental market size app. EUR 24 billion • Fragmented industry – over 15,000 rental companies • Average rental penetration in Europe at 1.6% • European equipment rental market grew by 2.8% in 2016 and is expected to grow by 1.9% in 2017 Rental penetration rate: Rental Turnover /Total construction output Low penetration 0.0% –1.0% Medium penetration 1.0% –3.0% High penetration >3.0% Rental penetration rate bycountry
  • 29. aleading equipment rental GROUP serving alarge customer base Half YearFinancial Report2017 29 market leader in8countries ~2,800employees ~150,000customers 10COUNTRIES ~300locations ~25,000equipmenttypes 665MEUR annual sales (2016) Russia and Ukraine presence through JV Fortrent Sales split H1 2017 Sweden 36% finland26% Norway 17% denmark6% BALTICS5% e. central 10% Construction 54% Industrial 18% Services & retail 20% 4% Other Publicsector 3% Household 1%
  • 30. BENEFITS OF rentING iMPROVED productivity 30 ECO-EFFICIENCY • Environmentalloading is reduced if more people use the same machine flexibility • Proximity • Delivery on site • Easierand quicker to rent versus buying Productivity • State-of-the art equipment • Right machine for the task • Use it when you need it • Improved cost control • Release of capital for core business safety • Pre-rental safetycheck • Regulation compliance • Well maintainedfleet Half YearFinancial Report2017
  • 31. Temporary spacesafety Merchandise sales training Equipment rental one-stop-shop 31 rental service Lightmachinery Heavy machinery lifts Tower cranes &hoists Power &heating planning Logisticsandfuel services Site services Scaffolding& Weather protection Half YearFinancial Report2017