Ramirent Plc's comparative financial information for 2017 according to the new segment structure

Ramirent Plc      Stock Exchange Release    March 15, 2018 at EET 9.00 am

Ramirent Plc announced in its stock exchange release on November 30, 2017 that the Ramirent Group's reportable five segments as of January 1, 2018 are: Sweden, Finland, Eastern Europe, Norway and Denmark. The new Eastern Europe segment was formed by joining the segments Baltics and Europe Central.

The Eastern Europe segment accounts for 15% of the Group's total net sales and for one quarter of the Group's total EBIT. The segment had comparative net sales of EUR 111 million in 2017 with an EBIT margin of 21.2%.

Ramirent has a market leader position in the Eastern Europe segment that covers Poland, Czech Republic, Slovakia, Estonia, Latvia and Lithuania. Ramirent foresees growth opportunities in the segment based on a solid construction market outlook for 2018-20 and a low rental penetration rate in the segment's markets.

The financial information according to the new segment structure for the financial year 2017 is provided below and as an attachment in an excel file.

           
Ramirent Group's comparatives according to the new segment structure for 2017
           
NET SALES Q1 2017 Q2 2017 Q3 2017 Q4 2017 Full year 2017
(MEUR)          
Sweden 60,4 63,2 64,5 72,3 260,3
Finland 42,8 46,4 49,8 52,5 191,5
Eastern Europe 22,8 27,0 31,6 29,6 111,0
Norway 29,0 27,9 29,1 35,2 121,2
Denmark 10,0 9,8 10,0 11,2 41,0
Elimination of sales between segments -0,4 -0,2 -0,2 -0,5 -1,3
Net sales, total 164,6 174,1 184,7 200,3 723,7
           
           
EBITA Q1 2017 Q2 2017 Q3 2017 Q4 2017 Full year 2017
(MEUR and % of net sales)          
Sweden 8,6 8,8 11,2 10,9 39,5
  14,3% 13,9% 17,3% 15,1% 15,2%
Finland 3,8 6,6 9,2 6,9 26,5
  9,0% 14,2% 18,5% 13,1% 13,9%
Eastern Europe 2,9 5,9 9,1 5,8 23,7
  12,5% 22,0% 29,0% 19,7% 21,4%
Norway 1,5 2,2 3,6 5,2 12,5
  5,3% 7,9% 12,4% 14,7% 10,3%
Denmark 0,6 0,3 0,7 -1,2 0,4
  5,8% 3,3% 6,6% -10,5% 0,9%
Unallocated items -0,9 -1,9 0,2 -2,5 -5,0
Group EBITA 16,6 22,0 34,1 25,1 97,7
  10,1% 12,6% 18,4% 12,5% 13,5%
           
Comparable EBITA Q1 2017 Q2 2017 Q3 2017 Q4 2017 Full year 2017
(MEUR and % of net sales)          
Sweden 8,6 8,8 11,2 10,9 39,5
  14,3% 13,9% 17,3% 15,1% 15,2%
Finland 3,8 6,6 9,2 6,9 26,5
  9,0% 14,2% 18,5% 13,1% 13,9%
Eastern Europe 2,9 5,9 9,1 5,8 23,7
  12,5% 22,0% 29,0% 19,7% 21,4%
Norway 1,5 2,2 3,6 3,9 11,2
  5,3% 7,9% 12,4% 11,0% 9,3%
Denmark 0,6 0,3 0,7 1,4 3,0
  5,8% 3,3% 6,6% 12,7% 7,3%
Unallocated items -0,9 -1,9 0,2 -2,5 -5,0
Group EBITA 16,6 22,0 34,1 26,4 99,0
  10,1% 12,6% 18,4% 13,2% 13,7%
           
EBIT Q1 2017 Q2 2017 Q3 2017 Q4 2017 Full year 2017
(MEUR and % of net sales)          
Sweden 7,8 8,1 10,4 10,1 36,4
  12,9% 12,8% 16,2% 13,9% 14,0%
Finland 3,5 6,3 8,9 6,6 25,3
  8,3% 13,5% 17,9% 12,5% 13,2%
Eastern Europe 2,8 5,9 9,1 5,7 23,5
  12,4% 21,7% 28,8% 19,4% 21,2%
Norway 0,8 1,6 3,0 4,5 10,0
  2,9% 5,8% 10,3% 12,8% 8,2%
Denmark 0,5 0,2 0,5 -1,3 -0,1
  4,6% 2,1% 5,4% -11,7% -0,2%
Unallocated items -0,9 -2,2 0,0 -2,6 -5,7
Group EBIT 14,6 19,8 32,0 23,0 89,3
  8,8% 11,4% 17,3% 11,5% 12,3%
           
Comparable EBIT Q1 2017 Q2 2017 Q3 2017 Q4 2017 Full year 2017
(MEUR and % of net sales)          
Sweden 7,8 8,1 10,4 10,1 36,4
  12,9% 12,8% 16,2% 13,9% 14,0%
Finland 3,5 6,3 8,9 6,6 25,3
  8,3% 13,5% 17,9% 12,5% 13,2%
Eastern Europe 2,8 5,9 9,1 5,7 23,5
  12,4% 21,7% 28,8% 19,4% 21,2%
Norway 0,8 1,6 3,0 3,2 8,7
  2,9% 5,8% 10,3% 9,1% 7,1%
Denmark 0,5 0,2 0,5 1,3 2,5
  4,6% 2,1% 5,4% 11,5% 6,1%
Unallocated items -0,9 -2,2 0,0 -2,6 -5,7
Group EBIT 14,6 19,8 32,0 24,3 90,6
  8,8% 11,4% 17,3% 12,1% 12,5%
           
CAPITAL EMPLOYED Mar 31, 2017 Jun 30, 2017 Sep 30, 2017 Dec 31, 2017  
(MEUR)          
Sweden 204,5 212,8 221,8 212,7  
Finland 140,7 141,3 144,4 144,8  
Eastern Europe 118,2 126,7 130,1 129,3  
Norway 126,0 124,4 127,1 101,5  
Denmark 30,0 31,8 32,8 32,1  
Unallocated items and eliminations -4,7 16,7 12,8 34,0  
Group 614,7 653,6 668,9 654,4  
           
           
ROCE (%) Mar 31, 2017 Jun 30, 2017 Sep 30, 2017 Dec 31, 2017  
           
Sweden 13,2% 13,2% 16,8% 17,6%  
Finland 18,1% 17,7% 17,4% 19,1%  
Eastern Europe 12,0% 14,5% 17,2% 19,1%  
Norway -1,0% -0,7% 5,7% 8,8%  
Denmark 6,5% 5,9% 5,6% -0,3%  
Group 7,8% 8,3% 13,0% 13,8%  
           
           
COMPARABLE ROCE (%) Mar 31, 2017 Jun 30, 2017 Sep 30, 2017 Dec 31, 2017  
           
Sweden 14,4% 14,4% 16,8% 17,6%  
Finland 17,3% 17,2% 17,4% 19,1%  
Eastern Europe 12,5% 14,9% 17,6% 19,1%  
Norway 4,3% 4,6% 5,6% 7,4%  
Denmark 6,5% 5,9% 5,6% 7,9%  
Group 11,2% 11,4% 12,9% 13,8%  

FURTHER INFORMATION:
Pierre Brorsson, CFO, +46 8 624 9541, pierre.brorsson@ramirent.com

RAMIRENT is a leading rental equipment group combining the best equipment, services and know-how into rental solutions that simplify customer's business. Ramirent serves a broad range of customer sectors including construction, industry, services, the public sector and households. In 2017, Ramirent Group sales totaled EUR 724 million. The Group has 2,820 employees in 293 customer centers in 10 countries in northern and eastern Europe. Ramirent is listed on the NASDAQ Helsinki (RMR1V). Ramirent - More than machines®.

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Ramirent Financial figures for 2017 according to new segment structure

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