RENTING IS FUNDAMENTALLY SUSTAINABLE

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2 RENTING IS FUNDAMENTALLY SUSTAINABLE GLOBAL TRENDS RESOURCE SCARCITY AND RISING ENERGY PRICES Global population is currently consuming more earth s resources than is sustainable. This leads to a growing demand for material and energy efficiency. Volatile raw material and energy prices are also costefficiency incentives for companies. ENVIRONMENTAL CHALLENGES All human activity has an impact on the environment. Growing global economy and population cause environmental burden that requires tightening regulation, cutting emissions and waste as well as new and more sustainable solutions. GLOBALIZATION AND CYCLICAL NATURE OF ECONOMY Financial crises and cyclical fluctuations demand flexibility from business strategies and models. Companies seek both tighter focus on core operations and sustainable growth. THE SUSTAINABILITY CHALLENGE People and countries need economic activity and infrastructure, such as buildings and traffic routes. About 40% of energy consumption and carbon dioxide emissions in Europe are caused by construction. Machinery is needed to meet this demand. The downside is that machinery and equipment require various expensive and nonrenewable raw materials and energy during their life cycle. Ramirent Sustainability Report 2012 THE RAMIRENT SOLUTION RENTING A MACHINE IS FUNDAMENTALLY SUSTAINABLE COMPARED TO OWNING ONE. IT IS COST AND ECOEFFICIENT BECAUSE MANY USERS BENEFIT FROM THE MACHINERY AND EQUIPMENT, BY RENTING THEM ACCORDING TO THEIR NEEDS.

3 23 RAMIRENT APPROACH TO SUSTAINABILITY In today s world sustainability for a company has at least two aspects: risk management and new business opportunities. From the risk management perspective, responsible business practices are a must for a company to gain and maintain acceptance for its operations. New business opportunities are utilized by those who face global challenges in an openminded way and decide to take action. Ramirent sees the importance of sustainability both from the new business and risk management perspectives. Over the past years, we have introduced a wide range of solutions that improve safety and environmental performance of our customers, resulting in operational efficiency. We continuously see new opportunities emerging in this field. RAMIRENT SUSTAINABILITY REPORTING BOUNDARY, PERIOD AND CYCLE Ramirent Group consists of operating segments, which are Finland, Sweden, Norway, Denmark, Europe East and Europe Central. This sustainability report covers, if not stated otherwise in relation to certain figures, the whole Ramirent Group. Reporting period is calendar year Ramirent reports its sustainability performance annually. Internally our Code of Ethics is a fundamental basis for everything we do. Equipment rental business has special characteristics from the sustainability point of view. The role of safety and quality are good examples of issues that shape our sustainability approach in practice. Systematic safety and quality work covers all Ramirent operations. As it is people who maintain, rent and use equipment, the role of training in for example safety issues is very essential for us. IN THIS SUSTAINABILITY REPORT WE INTRODUCE ESSENTIAL SUSTAINABILITY ASPECTS OF RENTING AND HOW RAMIRENT PERFORMS AS A COMPANY. SUSTAINABILITY REPORT 2012 Our sustainability reporting is based on identification of the most essential sustainability topics for Ramirent and our stakeholders. Our reporting reflects the characteristics of the equipment rental business and highlights both permanent sustainability elements and the latest development. This report includes many elements from the Global Reporting Initiative (GRI) guideline for corporate sustainability reporting. Ramirent is developing its reporting procedures with the aim of progressing towards more extensive fulfilment of the GRI requirements.

4 SUSTAINABILITY AGENDA We have defined sustainability topics that are most relevant to Ramirent and stakeholders. As a result of this definition, we have a materiality matrix, which gives an overview of the topics and their importance to us and our stakeholders. Ramirent Sustainability Report 2012 The matrix was created in workshops, in which Ramirent experts such as our fleet management, human resources as well as environment and quality professionals were represented. In the workshops we mapped Ramirent s key impacts on sustainability. Furthermore a benchmark on best sustainability practices of both equipment rental business and other company examples was carried out. Customer insight gained in our everyday operations was utilised as stakeholder perspective. From a large selection of sustainability topics the working group then prioritized topics for the Ramirent materiality matrix. Sustainability key performance indicators (KPIs) were defined for management and data collecting purposes based on these topics. In the Ramirent materiality matrix, there are important topics included from all fields of corporate responsibility. Topics reflect the nature of equipment rental business where thousands of machines and tools are being used by large number of people in varying conditions every day. Ramirent has altogether about 200,000 different products that are offered to approximately 200,000 customers. Furthermore, the nature of Ramirent as a company operating in many countries and great number of outlets characterises our sustainability work. TOPIC INSIGHT In this report Ramirent covers most of the topics mapped in the materiality matrix. The amount of attention to each topic varies based on its relevance during the reporting period 2012 as well as availability of performance data. Safety, quality, supply chain matters and employee satisfaction are given special focus in this report. Energy efficiency both in our own operations and in the solutions and competence we offer our customers is gaining more and more importance. Chemical use, waste and recycling as well as occupational health and safety are also important topics gathered under the section More sustainability information. Prevention of corruption and bribery as well as fair competition do not have sections of their own but they are covered as part of Key company policies and principles. Equal opportunities is a topic in which Ramirent did not have major development during It is therefore not reported in High Moderate Low CONCERN TO STAKEHOLDERS RAMIRENT MATERIALITY MATRIX Environmental issues Social issues Economic issues Equal opportunities Energy efficiency Chemicals use Waste and recycling Community involvement Product quality Product safety/injuries Training for customers Prevention of corruption and bribery Fair competition ethics Occupational health and safety Training for employees Procurement principles /supplier criteria Employee satisfaction CURRENT OR POTENTIAL IMPACT ON RAMIRENT Low Moderate High

5 45 RAMIRENT VALUE CHAIN CUSTOMER FIRST SIMPLIFIED BUSINESS FOR OUR CUSTOMERS Business environment Customer needs Business potential RAMIRENT STRATEGY Management, people & competencies DYNAMIC RENTAL SOLUTIONS Customer center network Construction Industrial Services & Retail Public sector Households Suppliers Equipment Fleet management Sourcing Business development Marketing & sales IMPORTANT STAKEHOLDERS AND RAMIRENT ENGAGEMENT Customers: During the year, we serve customers in numerous customer contacts in 13 countries. Every contact is valuable for us: we train and instruct customers to use the rented equipment and receive feedback on the functionality and safety of our fleet. We conduct customer satisfaction surveys on a regular basis and develop our work and processes to serve our customers even better every day. We want to achieve sustainable profitable growth while keeping the customer first in everything we do. Investors and shareholders: Sustainable solutions offer opportunities for profitable growth, which is a valuable factor when considering Ramirent as an investment. Ramirent operates on a solid financial base and met all financial targets in In all operations, we also ensure compliance with corporate governance and risk management principles. Ramirent share is included in OMX GES Sustainability Finland indices. Suppliers: Top quality of fleet is essential for us. We choose our equipment from recognised leading brands, whose operations comply with strict local and international standards and regulations and who can offer reliable and highstandard repair and maintenance. Important criteria in choosing equipment suppliers and products are also environmentally sustainable solutions. Personnel: Competent and motivated personnel is a key asset for us in reaching our targets. According to our annual employee survey, our personnel is highly engaged and committed in their work at Ramirent. Employees feel that they have a challenging and interesting job. Employee safety and competence development are high on our agenda also in the future. Local communities: We employ a prominent number of people in the countries we operate. Our business model is strongly decentralised. Operations are divided into numerous customer centres, where we serve local customers and work in close cooperation with local authorities, communities and societies. Other stakeholders: Other important stakeholders include e.g. media, public sector organisations, authorities and decisionmakers and nongovernmental organisations. We work in ongoing and open collaboration with all our stakeholders.

6 STRATEGY Ramirent sharpened its strategy and renewed the longterm financial targets in CUSTOMER FIRST VISION MISSION To be the leading and most progressive equipment rental solutions company in Europe, setting the benchmark for industry performance and customer service. We simplify business by delivering Dynamic Rental Solutions TM. KEY STRATEGIC PRIORITIES FOR Customer first 2 Sustainable, profitable growth 3 Common Ramirent platform 4 Balanced business portfolio RENEWED LONGTERM FINANCIAL TARGETS 1 Return on equity, ROE, of 18% over a business cycle 2 Net debt to EBITDA below 1.6x at the end of each fiscal year 3 Dividend payout ratio of at least 40% of net profit VALUES OUR GUIDE IN THE DAILY DECISIONS OPEN We are openminded and transparent to each other, our customers and our company. PROGRESSIVE We are forwardmoving, innovative and creative and apply experience and competence to everything we do. ENGAGED We are committed, caring and professional all the way from assignment to solution. BRAND PROMISE LET S SOLVE IT Ramirent Sustainability Report 2012

7 67 OUR OFFERING AND IMPACT ON THE MARKET SOLUTIONS RAMIRENT OFFERING PRODUCTS Light machinery Heavy machinery Lifts Power and heating Modules Tower cranes and hoists Scaffolding SAFE SERVICES Planning Business support Onsite support Merchandise sales Damage waiver Training Benefits: More uptime in core operations due to less downtime in equipment, less maintenance costs, right choice of equipment improves efficiency, less product liability risk TotalSolve SafeSolve EcoSolve SpaceSolve AccessSolve PowerSolve ClimateSolve Benefits: Easy to buy, reduced number of subcontractors, increased focus on the core business OUTSOURCING Benefits: By outsourcing functions to Ramirent, companies can increase efficiency and simplify their business by focusing on core competences Benefits: Lighter balance sheets, less investments INDUSTRIES Construction Power generation Mining Paper Oil & gas Shipyards Facility management Public sector Households Impact on simplifying customer business CUSTOMER NEEDS

8 OUR MOST ESSENTIAL SUSTAINABILITY TOPICS Ramirent sustainability work is based on materiality analysis on essential sustainability topics both from Ramirent business and stakeholder interest perspectives. The most relevant topics regarding our operations are related to SAFETY product safety and safety training for customers and employees QUALITY product and service quality SUPPLY CHAIN procurement principles and supplier criteria EMPLOYEE SATISFACTION achievements and improvement areas ENERGY EFFICIENCY Ramirent operations and customer solutions IN THIS SECTION WE SHARE INSIGHT ON THE MOST ESSENTIAL SUSTAINABILITY TOPICS AND RAMIRENT PERFORMANCE. Ramirent Sustainability Report 2012

9 89 SAFETY IS OUR FIRST PRIORITY Our number one priority is to provide our personnel and customers a safe working environment. We have a thorough process for preventing accidents, extending from the preparation to implementation and to the finalization of a project. The process covers risk assessments, liability concerns and training of our employees, coworkers and our customers staff to ensure safe and environmentally benign handling of machines and chemicals. MANAGING SAFETY We continuously monitor and audit our customer centre network. Safety is assessed as part of auditing. In 2012, around 440 audits were conducted in our customer centre network. We had 358 customer centres in total in In addition, we have safety monitoring systems in place. For example in Sweden, we have a system that alarms if certain health, safety, environmental or quality related duties have not been reported. PRODUCT SAFETY As a rental company, Ramirent has a special safety responsibility towards our customers. All of our machinery and equipment have the CE marking, which is a declaration that our products conform with the essential health, safety and environmental requirements of applicable directives. Every time we rent a machine or equipment, it is our responsibility to instruct our customer to use it safely. We also have a due process in place regarding equipment and machinery returning from our customer. Using a detailed checklist, we make sure that our products are safe to use again once returned. In addition, we overhaul our products on a regular basis as instructed by the manufacturer.

10 Any detected malfunctions are repaired in our own customer centre network or, if necessary, shipped to an appropriate repair shop. Certain demanding equipment and machinery is always repaired by the manufacturer or importer to guarantee appropriate maintenance and repair. We investigate all claims and reports from our customers regarding malfunction in any of our machinery or equipment. This information is crucial for us because we are committed to continuously improving the safety of our products and the quality of our services. The number of reported claims regarding our rental equipment decreased from 103 in 2011 to 66 in All claims from customers are reported. SAFETY TRAINING For our customers, we provide safety training on a continuous basis. Training is an integral part of our service offering. For example in Finland, Sweden, Norway and Denmark, we provide our customers lift training. Only after completing this training, is the user of the lift authorised to use the machine. Our training offering varies a little country by country, depending on countryspecific needs. In 2012, there were over 60 training days for our customers, with over 900 participants. In 2012, 15 accidents were reported in terms of using our rental equipment. TAILORED SAFETY TRAINING IN SWEDEN AND FINLAND Listening to the customers needs and flexibility are the starting point of Ramirent s training for its customers. For example in Sweden, Ramirent offered tailor made fall prevention training for employees of the construction company NCC. When working in high places, personal fall prevention and protection equipment will halt and protect a person in case of a possible fall. The training also teaches how, if the fall leaves a person suspended, he or she can carry out selfrescue or how another person can help in the situation. The training was held in Ramirent s customer centre in Hudiksvall and Sundsvall in cooperation with RopeAccess. Ramirent tailored the training concept to fit NCC s needs, and the training cooperation is expected to continue. In Finland, Ramirent cooperates with Rudus Oy in the Safety Park, which is a big safety training centre. Safety Park offers an opportunity to test safety skills in practice. The Park s training area and showroom has been built using Ramirent s equipment. A special focus area in the training room that features Ramirent safety solutions is dustfree and ergonomic working environment. The Safety Park is one of its kind in Europe. In each Ramirent country, there is a health, safety, environment and quality responsible person, who monitors and develops the safety of our own employees. Safety training for our own employees is based on countryspecific laws and regulations, and the Ramirent high standard. All employees receive safety training in their own language, and are granted the necessary countryspecific safety certificates. Ramirent Sustainability Report 2012

11 1011 QUALITY WORK IS CONTINUOUS Quality work at Ramirent is based on systematic policies and practices. Majority of Ramirent s operations in various countries are covered either by certified international or national quality systems. The key elements of country specific quality policies cover for example continuous assessment of customer needs and satisfaction, customer oriented product and solution development, management system evaluation and continuous improvement, employee training for securing competent organisation, managing people in a targetoriented way, development work together with partners and active approach on developing the whole industry sector, compliance with laws and regulation. The following table gives an overview on the status of environment and quality management systems at Ramirent. RAMIRENT WORKS WITH TRUSTED EQUIPMENT SUPPLIERS Ramirent procures its equipment and machinery only from industry leading companies. These companies and their reputable brands are subject to tight regulation and internal scrutiny, including environmental, safety and quality criteria for example. In total, we cooperate with approximately 15,000 suppliers. We only use our trusted equipment suppliers. AUDITING We have a due process in place for managing the supply chain. We conduct supplier audits on an annual basis. We visit our suppliers production plants and discuss any development targets or issues including feedback from our customers. Safety is one important topic. We apply the Ramirent safety criteria to the supply chain too. We require that our suppliers respect the Rami way and operate in an environmentally, socially and economically sustainable way. ACTIVE INDUSTRY DEVELOPMENT Ramirent is an active member of the European Rental Association (ERA). Together with other companies in the industry, Ramirent makes an effort in developing the rental industry to a more sustainable direction within the ERA framework. Sustainability of the supply chain is an important part of the development work. INTERNATIONAL CERTIFICATION SYSTEM COVERAGE COUNTRY INTERNATIONAL QUALITY CERTIFICATION* AREAS COVERED BY THE CERTIFICATION ORIGINAL APPROVAL DATE Czech Republic ISO 9001:2008 Rental, service and sales of machinery and equipment for construction and industry 1 May 2012 Baltics (Estonia, Latvia, Lithuania) In the process to achieve ISO 9001, and certificates Finland ISO 9001 ISO OHSAS Quality Environment Health 21 March March March 2005 Denmark Hungary ISO 9001:2008 Rental, sales and service of construction machinery 10 March 2001 Norway Poland Slovakia STN EN ISO 9001:2009 Rental, sales and service of construction machinery, mechanization and constructional plants 12 October 2011 Sweden ISO 9001:2008 All outlets 31 December 2012 *Some countries, such as Denmark, Finland, Poland and Norway, have certification according to country specific schemes in place in addition or instead of international systems.

12 GOOD RESULTS FROM EMPLOYEE SATISFACTION SURVEY Ramirent Sustainability Report 2012 The RamiWay defines Ramirent s key business processes, strategy, organisation, functional areas, IT Infrastructure and common terms & definitions. Implementing RamiWay is a collective effort towards achieving common goals that are critical for Ramirent s success and helps all employees realise the company s core values in daily work. STREAMLINING OPERATIONS ON THE RAMIRENT PLATFORM One of Ramirent s key strategic objectives in the past couple of years has been to further enhance competitiveness by intensifying internal integration within the Group. A manifestation of the new, streamlined operational model is the Ramirent Platform. The common business platform sets a shared business logic for everyone in the company regarding operational and supporting work flows. The first implementation of the Platform was carried out in Norway at the beginning of It guides and documents work flows and processes in the organisation, and acts as a reference point for operations. We believe that by redefining and standardising roles, tasks and processes it is possible to create a more efficient organisation that is run by the principle of continuous improvement both on the individual and corporate level, says Mats Munkhammar, Group CIO at Ramirent. We are committed to training our employees to successfully rollout the new business platform across the organisation. Our handson approach includes, for example, homework after the trainings, and working on a train the trainer basis. Ramirent conducts an annual employee survey to assess opinions of personnel on matters related to organizational climate, managerial styles, working conditions, work satisfaction and employer image. Latest survey was conducted in February Response rate was approximately 77%, which can be regarded as good. According to the survey, the engagement and commitment of Ramirent employees are clearly higher than average. Employees feel that they have a challenging and interesting job, where knowledge and knowhow are shared across the organization. Equal opportunities and management of communications on strategy and future outlook are seen as areas with most improvement potential. Many operational changes took place in 2012, as the number of our customer centres was decreased. Most of the restructuring was done in Europe Central segment and aims at improving our profitability and efficiency. While the number of customer centres decreased by 12%, Ramirent managed to keep the decrease in the number of employees substantially lower, at 6%. Despite of restructuring, the employee turnover rate decreased during the year. Due to weak demand, Ramirent relocated rental equipment from the Czech Republic and Slovakia to the Baltic countries in order to improve utilisation rates. Every year, Ramirent management and employees attend Ramiday. Ramiday is arranged to promote joint projects and procedures and to build common Ramirent culture. In 2012, Ramiday focused on profitable sales growth, with a view also in the launch of the new Ramirent Business Platform.

13 1213 ENERGY EFFICIENCY THROUGHOUT THE ENTIRE LIFECYCLE Energy efficiency of our own operations is crucial for us both in environmental and economic terms. Regarding our offering of energy efficient products and services, see more on the EcoSolve case. EFFICIENT MACHINERY AND EQUIPMENT We closely monitor the energy efficiency of our machinery and equipment. When we purchase a new machine or a piece of equipment, we look at its energy consumption throughout its entire lifecycle. Efficiency, low emissions, safety and durability are important criteria for us. We also estimate maintenance cost as part of the product s total cost. We are committed to improving energy efficiency together with our trusted suppliers. In 2012, we decided to invest in a roadshow that introduces highly energy efficient modules in Sweden. This roadshow is related to our EcoSolve offering. The roadshow will start in OPERATIONS AND BUILDING Ramirent has environmental goals, which come, for example, with ISO certification requirements in many countries. The certification and our own targets drive us to continuously improve our performance. Energy efficiency improvement is an important topic on our agenda. In Denmark for instance, consumption of electricity and heat is reduced by changing electrical installations and building insulation. RAMIRENT ECOSOLVE IMPLEMENTS GREEN VALUES Ramirent EcoSolve provides a broad portfolio of ecoefficient equipment, services and solutions for more environmentally friendly operations. One crucial element of ecoefficient construction is energy efficiency. When considering the ecoefficiency of a building, its entire life cycle needs to be taken into account. The construction phase accounts for approximately 1 per cent of a building s energy consumption during its life cycle. However, for those working in the industry, such as construction companies, this phase is very important. About 40 per cent of energy consumption and carbon dioxide emissions in Europe are caused by construction. Ramirent provides a value chain of green services from energy efficient modules to logistics with a minimum of transports. For example, Ramirent EcoSolve solutions enable up to 40 per cent savings in module energy consumption. A highclass module can be heated remotely, equipped with energy efficient lighting options and its energy consumption can be read remotely. We apply the Ramirent EcoSolve way of thinking daily in our customer interactions. As an example of other activities, a road show was held in Central and Northern Sweden in 2012 to invite stakeholders to talk about ecoefficiency in construction. Ecoefficiency helps companies reach a sustainable way of doing business both through creating potential for cost savings and from the environmental perspective.

14 MORE SUSTAINABILITY INFORMATION RAMIRENT PROTECTS PEOPLE AND THE ENVIRONMENT Ramirent Sustainability Report 2012 WASTE AND CHEMICALS Our rental locations recycle their waste and compile statistics on recycling and amount of landfill waste generated at every customer centre annually. For example in many rental locations in Finland, we have an online monitoring system for our waste production and recycling. In 2012, we started a project for centralizing all of Ramirent s waste management to a single service provider in Finland. Hazardous waste, such as batteries, waste oils, filters, and chemicals, are recovered and processed in accordance with laws and regulations in the Rami way. We work with chemicals that are, for example, related to the maintenance of our machinery and equipment. We are constantly reducing the number of chemicals used in our operations. TRANSPORTATION We reduce adverse environmental impacts, such as exhaust emissions arising from the transportation of machinery, by investing in the optimization of logistics and taking advantage of our outlet network. Our objective is to transport as many machines as possible at the same time via the shortest route. We pay attention to our CO2 emissions. In all new company cars in Finland, the maximum CO2 emission is 170 g/km. We keep list of all vehicles and their CO2 emissions, and we are constantly reducing the emissions as part of buying or leasing new vehicles. In addition, all new company trucks in Finland fulfil the EURO5 standard, which defines the acceptable limits for exhaust emissions of new vehicles sold in EU member states. FUEL We can provide our customers with oil and gas that are less harmful for the environment. In Sweden, for instance, more environmentally friendly oil and gas are a requirement in all construction sites in certain regions. RAMIRENT DONATED TO THE BALTIC SEA ACTION GROUP In the end of 2012, Ramirent made a significant donation to the Baltic Sea Action Group (BSAG). BSAG works against eutrophication and for solving the problems caused by hazardous substances and maritime traffic in the entire Baltic Sea region. Ramirent operates in Europe with Baltic Sea region being the core market. As eight of our 13 operating countries have a border to the Baltic Sea, it is an area that we want to protect and wish to see prosper together with our customers, suppliers and other stakeholders. Thus it was chosen as target for donations in connection with organizing a stakeholder dinner on my 50th birthday. Ramirent s own business is environmentally friendly in its own helping to save resources by renting instead of buying own equipment, says Magnus Rosén, President and CEO, Ramirent Group. More information:

15 1415 OUR BUSINESS GENERATES ECONOMIC WELLBEING FINANCIAL SUSTAINABILITY AT RAMIRENT The cornerstone of Ramirent s financial sustainability is profitability and improving our competitiveness in the long term. Our aim is to fulfill the needs and expectations of our customers and other stakeholders. In order to do so we need a solid financial position. DIRECT ECONOMIC IMPACT Ramirent s profitability improved and net sales reached an alltime high level in Our solid financial foundation ensures that we are able to fulfill the needs, expectations and requirements of our stakeholders. In 2012, our net sales were EUR million and we drew EUR 9.3 million of new loans. With this income, we generated financial wellbeing to our suppliers, personnel, investors and shareholders, as well as the public. We paid EUR million to our suppliers and EUR million to our employees. Shareholders received EUR 30.1 million in dividends and banks and other investors EUR 37.2 million in loan repayments and EUR 9.4 million in net interests and other net financial costs. Taxes paid amounted to EUR 19.3 million and social security costs to EUR 17.2 million. Capital expenditure on noncurrent assets totaled EUR million, of which EUR 16.2 million was related to acquisitions. INDIRECT ECONOMIC IMPACT In addition to the direct economic impact, our business has an indirect economic impact on the societies we operate. We offer our customers a flexible availability of machinery and equipment instead of them having to invest in their own fleet. Furthermore, we pay salaries that affect consumption and thus, business in the countries we operate. Cooperation with our suppliers creates mutual new business opportunities. Taxes that we and our employees pay have an impact on the society at large. Therefore, our business has a social multiplier impact on the society. RAMIRENT DIRECT ECONOMIC IMPACT NET SALES MEUR OTHER OPERATING INCOME MEUR 3.0 LOAN WITHDRAWALS MEUR 9.3 SUPPLIERS OF MATERIALS AND SERVICES MATERIALS AND SERVICES MEUR OTHER OPERATING EXPENSES MEUR PERSONNEL WAGES AND OTHER EMPLOYEE BENEFIT EXPENSES MEUR PENSION COSTS MEUR 11.3 INVESTORS AND FINANCIAL COMMUNITY DIVIDENDS MEUR 30.1 REPURCHASED OWN SHARES MEUR 2.7 NET FINANCIAL COSTS MEUR 9.4 LOAN REPAYMENTS MEUR 37.2 PUBLIC SECTOR INCOME TAXES MEUR 19.3 SOCIAL SECURITY COSTS MEUR 17.2 BUSINESS EXPANSION CAPITAL EXPENDITURE MEUR 124.0

16 PEOPLE ARE OUR STRENGTH Number of employees per employment contract LONG TERM LEAVE 2 % FIXED TERM CONTRACT EMPLOYEES 12 % PERMANENT EMPLOYEES 86 % PERSONNEL MANAGEMENT Preparing for the implementation of Ramirent s new business platform, the Rami Way, has been in the focus in One purpose of the new platform is to harmonise our way of working including HR practices in different Ramirent countries and, thus, create synergies in the group. From 2013 onwards, Ramirent will start harmonising the personnel related key performance indicators and reporting. In the end of 2012 Ramirent employed 3,005 people in total (3,184 in 2011). People are our strength, and we monitor employee satisfaction on an annual basis. Read more about the latest employee satisfaction survey on page 12. FEMALE 13 % Share of female/ male employees MALE 87 % YEAR 2012 IN BRIEF Ramirent reorganised its operations in several countries. New CEO Anna Hyvönen (44), Lic. Tech., was appointed Head of Finland segment. Along with the new CEO in Finland, the organisational structure changed slightly. The purpose of reorganisation was to develop business into a more customeroriented direction. In Sweden, Head of Business segment Sweden decided to leave the company by mutual agreement in Erik Alteryd (49), M. Sc. Eng., was appointed as Head of the segment and member of the GMT. He will assume his position latest in July There were changes also in Europe Central segment, where Ramirent scaled down operations due to weak demand. The number of customer centres decreased from 122 to 80. Number of employees decreased from 825 to 626. BLUE COLLAR 44 % Employees per employee category * WHITE COLLAR 56 % In 2012, Norway was the first country to implement the new business platform, and the implementation work will continue in 2013 and 2014 in other countries. All countries are making preparations for the new business platform, which also means competence development and organisational considerations. OCCUPATIONAL HEALTH All Ramirent employees have occupational health services at their disposal. Each country has health, safety, environment and quality related experts that follow, for example, occupational health and safety related matters. Read more about safety on page 910. Ramirent Sustainability Report 2012 * EXCLUDING DENMARK Absence rate due to illness and injuries in comparison to annual working hours was 3.9% in 2012 (4.6% in 2011).

17 1617 COMPETENCE DEVELOPMENT Ramirent focused on sales training for its employees in different countries during Along with the new business platform, Ramirent has also invested in change management and applicable change training. Our managers convene during the Rami Day to discuss topical issues and development targets. For our managers we have Corporate Management Platform, which is a management training programme. All Ramirent employees participate in development discussions. The development discussions allow an employee and a manager to discuss development targets together. Age distribution of employees UNDER 25 YEARS 6 % 2540 YEARS 45 % 4150 YEARS 27 % 5155 YEARS 10 % 5660 YEARS 7 % OVER 60 YEARS 5 %

18 KEY COMPANY POLICIES AND PRINCIPLES Ramirent Sustainability Report 2012 CODE OF ETHICS The Ramirent Group has a common Code of Ethics that addresses anticorruption, the right for collective bargaining, and zero tolerance for child labour, forced labour and discrimination. The document states our ethical principles for all regions, and creates a uniform foundation for operations both internally and towards external stakeholders. All our employees and suppliers have been familiarized with our Code of Ethics and it is an important tool in our continuous work to prevent corruption and bribery in all the countries and markets we operate. All incidents are reported to the Board for information and corrective action. WHISTLE BLOWING SYSTEM Using Ramirent s whistle blowing system, any employee has a possibility to anonymously or under his/her own name report any suspected financial misconduct or fraudulent activities. The service is operated in all languages in use in the Ramirent Group. Suspected misconduct is investigated immediately and confidentially. Suspicions and results of the investigations are reported to Working Committee. The legal function and other functions will implement any measures consequential to the misconduct or any other action deemed necessary to prevent misconduct in the future and improve control environment. RISK POLICY PRINCIPLES The Board of Directors approves the risk policy principles. The goal of risk management in Ramirent is to support the strategy and the achievement of the objectives by anticipating and managing potential threats to and opportunities for business. Risk assessment is conducted as part of annual strategy process. Risks are evaluated in relation to achievement of strategic, including financial, targets of Ramirent. In the risk assessment the impact and probability of each risk is evaluated. Indicators to follow are set and measures to be taken if the risks materialize are described in an action plan. INTERNAL CONTROL SYSTEM Internal control system comprises five principal components of internal control: control environment, risk assessment, control activities, information and communication as well as monitoring. Internal control system is based upon the framework by the Committee Of Sponsoring Organisations (COSO) of the Treadway Commission. CORPORATE GOVERNANCE Ramirent complies with the Finnish Corporate Governance Code 2010 set by the Securities Market Association, as well as with the Finnish Companies Act, other applicable legislation and Ramirent s Articles of Association. More information is available in Financial Statements 2012 and BUSINESS UNIT SPECIFIC HSEQ PLANS In practice, Ramirent s health, safety, environment and quality performance is based on annual business unit specific plans. Key performance areas are, for example, customer and employee satisfaction, number of injuries to employees and customers, share of fleet with low energy consumption and share of total waste that is recycled.

19 1819 CUSTOMER FIRST IN RAMIRENT SUSTAINABILITY The starting point of Ramirent s sustainability is a very positive one. Renting a machine is fundamentally more sustainable compared to owning one. Ramirent has altogether about 200,000 different products that are offered to approximately 200,000 customers. Against that background it is easy to see how crucial competitive advantage customer experience management is for us. Excellence in customer experience is one of the key strategic objectives of Ramirent. We expect that the rental industry keeps growing. Strongest growth drivers are the low levels of rental penetration in many European countries, a desire to outsource equipment in an increasing number of companies, and the promising longterm growth prospects in emerging construction markets. Ramirent is in an excellent position to gain foothold in these market areas, being a modern, agile and forwardlooking rental company, ready to meet our customers needs. OUR SUSTAINABILITY PERFORMANCE The other crucial layer of sustainability, in addition to benefits of renting as such, is how we as a company perform. In today s world, sustainability for a company has at least two aspects: risk management and new business opportunities. We at Ramirent have an integrated thinking that combines both aspects. Sustainability focus of our own operations reflects the nature of equipment rental business, where machines and tools are being used by large number of people in varying conditions every day. In 2012, we put even more focus on environment, safety and health, as well as on the quality of the customised solutions we provide to our customers. Preparing for the implementation of Ramirent s new business platform, the Rami Way, has been in the focus in One purpose of the new platform is to harmonise practices in different Ramirent countries and thus, create synergies in the group. The new business platform will also provide opportunities to further develop our sustainability goal setting and performance followup. YOUR FEEDBACK IS NEEDED One outcome of our growing focus on sustainability is this report. It was now time for a separate sustainability report that allows us to reflect on a variety of themes more indepth. Should you have any questions, feedback or ideas on sustainability you wish to share with us, please let us know. We want to know where we have succeeded from your perspective and how we can improve. Magnus Rosén, President and CEO

20 NORWAY NET SALES, MEUR EBITMARGIN, % , ,7 FINLAND CAPITAL EXPENDITURE, MEUR NET SALES, MEUR PERSONNEL, 31 DEC EBITMARGIN, % 18,2 14,7 CUSTOMER CENTRES, 31 DEC CAPITAL EXPENDITURE, MEUR MARKET POSITION #1 #1 PERSONNEL, 31 DEC CUSTOMER CENTRES, 31 DEC MARKET POSITION #1 #1 SWEDEN NET SALES, MEUR EBITMARGIN, % CAPITAL EXPENDITURE, MEUR PERSONNEL, 31 DEC 15, , EUROPE EAST (RUSSIA, ESTONIA, LATVIA, LITHUANIA, UKRAINE) DENMARK NET SALES, MEUR CUSTOMER CENTRES, 31 DEC MARKET POSITION 79 #2 79 #2 NET SALES, MEUR EBITMARGIN, % 63 17, ,5 EBITMARGIN, % 3,6 0 CAPITAL EXPENDITURE, MEUR 9 12 CAPITAL EXPENDITURE, MEUR 2 9 PERSONNEL, 31 DEC PERSONNEL, 31 DEC CUSTOMER CENTRES, 31 DEC MARKET POSITION # #1 EUROPE CENTRAL (POLAND, CZECH REPUBLIC, SLOVAKIA, HUNGARY) CUSTOMER CENTRES, 31 DEC MARKET POSITION 80 #1 122 #1 NET SALES, MEUR EBITMARGIN, % CAPITAL EXPENDITURE, MEUR PERSONNEL, 31 DEC CUSTOMER CENTRES, 31 DEC MARKET POSITION 63 2, #1 74 7, #1 * In addition, Group Administration employs 28 people in Sweden and Finland. Ramirent is a leading equipment rental group delivering Dynamic Rental Solutions that simplify business. We serve a broad range of customers, including construction and process industries, shipyards, the public sector and households. In 2012, the Group s net sales totalled EUR 714 million. The Group has 3,000 employees at 358 customer centres in 13 countries in the Nordic countries, Central and Eastern Europe. Ramirent is listed on the NASDAQ OMX Helsinki Ltd. Ramirent Plc I P.O. Box 116 (Äyritie 16), FI01511 Vantaa, Finland Tel I Fax I I Business ID