Cramo Plc CEO Vesa Koivula CFO Martti Ala-Hrknen Contents Cramo - PDF document

Financial Statements 1.1.2006 – 31.12.2006 Cramo Plc

CEO Vesa Koivula CFO Martti Ala-Härkönen

Contents � Cramo Group in brief � Interim report 1-12/2006 � European rental market � Appendices � Additional financial information � Group organisation

Cramo Group in brief � Net sales 402.4 MEUR (+20.4 %) Key � EBITA 72.8 MEUR (+78.7 %) financials 2006 � EPS, diluted, EUR 1.36 (+67.9 %) Finland � 250 depots Depot network St. Petersburg � 11 countries Norway Sweden Estonia Russia Personnel Latvia � 1.828 Denmark (average Lithuania Netherlands 1-12/06) Belarus Poland Germany � Equipment rental Business Belgium Czech Ukraine Republic segments � Modular space Slovakia Austria Moldova Hungary Romania No. of � Approximately 140.000 equipment for rent

Our business: Equipment rental and rental-related services

Modular space services Our business:

A group with long experience in equipment rental Presently: RK and Cramo merger, creating: � One of the leading equipment rental and modular space service providers in Northern Europe � Finland, Sweden, Norway, Denmark, the Netherlands, Estonia, Latvia, Lithuania, Poland, the Czech Republic and Russia Vision: � To be a top 3 European player and #1 or #2 in each market of presence � To be the rental company of choice for all local and international customers in markets of presence � To be one of the most profitable companies in rental business

Cramo’s business prioritization Geographical markets Business prioritization Equipment rental Modular Space Finland Rental and sales Core areas Sweden Finland Estonia St. Petersburg Norway Norway Emerging Latvia Sweden core Lithuania Estonia Russia areas Poland Latvia Denmark Russia Lithuania Czech Republic Netherlands Belarus Poland Germany Supporting Modular space Denmark Belgium Czech areas production Ukraine Republic Slovakia Core Austria Moldova Hungary Romania Emerging core Independent Industrial halls Netherlands Supporting business areas Independent business

Q4/2006

Cramo’s Q4/2006: Strong performance continues � Consolidated year 2006 sales EUR 402.4 (77.0) million, up by 20.4 per cent on year 2005 pro forma sales (EUR 334.3 million) � Consolidated operating profit before amortisation on intangible assets resulting from acquisitions (EBITA) EUR 72.8 (18.0) million, up by 78.7 per cent on full year 2005 pro forma EBITA (EUR 40.8 million) � Consolidated operating profit (EBIT) EUR 68.6 (18.0) million, up by 87.9 per cent on full year 2005 pro forma operating profit (EUR 36.5 million) � Earnings per share, undiluted EUR 1.39 (0.83), diluted, EUR 1.36 (0.81) � The Board of Directors proposes a dividend of EUR 0.50 (0.25) per share � Following the successful integration of RK and Cramo, the company has started to execute its growth strategy and to seek opportunities for both organic and acquisitive growth � The company’s name was changed to Cramo Plc on November 24, 2006 � Favourable market development is expected to continue into year 2007, providing a solid base for further profitable growth

Key figures 10-12/ 10-12/ Change 1-12/ 1-12/ Change 2006 2005 2006 2005 EUR (1 000) % % INCOME STATEMENT FIGURES Sales* 116 588 92 418 26,2 % 402 425 334 302 20,4 % Operating profit (EBITA) before amortisation on intangible assets resulting from acquisitions* 22 913 8 358 174,1 % 72 834 40 751 78,7 % Operating profit (EBIT)* 21 821 7 300 198,9 % 68 569 36 521 87,8 % Profit before tax (EBT)* 19 714 4 940 299,1 % 56 585 25 567 121,3 % Profit for the period* 15 091 3 445 338,0 % 41 944 18 679 124,6 % PER-SHARE FIGURES Earnings per share (EPS) before amortisation on intangible assets resulting from acquisitions, EUR 0,53 0,17 211,8 % 1,50 0,83 80,7 % Earnings per share (EPS), undiluted, EUR 0,50 0,17 194,1 % 1,39 0,83 67,5 % Earnings per share (EPS), diluted, EUR 0,49 0,17 188,2 % 1,36 0,81 67,9 % 9,66 Shareholders’ equity per share, EUR 3,77 156,2 % BALANCE SHEET FIGURES Equity ratio, % 38,2 % 49,0 % Gearing, % 104,6 % 89,7 % 305 643 Net interest-bearing liabilities 48 556 529,5 % OTHER KEY FIGURES Gross investment on non-current assets* 111 864 92 172 21,4 % % of sales* 27,8 % 27,6 % Average personnel* 1 828 1 646 11,1 % * 10-12/2005 and 1-12/2005 based on pro forma figures

Cramo Group quarterly sales development 2006 Accelerating growth in Q4 Y-o-Y +24,4% +13,9% +17,6% +26,2% growth 140,0 116,6 120,0 105,5 Quarterly sales (EUR million) 96,7 100,0 92,4 89,7 85,0 83,6 80,0 67,2 60,0 40,0 20,0 0,0 Q1 Q2 Q3 Q4 2005 pro forma 2006 actual

Cramo Group quarterly EBITA development 2006 Strong Q4 EBITA % 4,3% 11,8% 14,0% 15,6% 19,7% 23,7% 9,0% 19,7% 30,0 25,0 25,0 22,9 Quarterly EBITA (EUR million) 20,0 17,6 15,1 15,0 11,9 9,8 10,0 8,4 5,0 2,9 0,0 Q1 Q2 Q3 Q4 2005 pro forma 2006 actual

Quarterly EPS performance (diluted) 0,60 0,49 0,50 Quarterly diluted EPS (EUR) 0,43 0,40 0,34 0,31 0,30 0,24 0,21 0,21 0,20 0,17 0,16 0,14 0,13 0,12 0,11 0,08 0,10 0,07 0,07 0,00 Q1 Q2 Q3 Q4 2003 2004 2005 2006 Note: 2003-05 RK EPS, 2006 RK Cramo EPS. 2003-04 based on Finnish GAAP, 2005-06 IFRS.

Cash flow statement 1-12/06 EUR (1 000) Cash flows from operating activities 103 880 Cash flows from investing activities -96 254 Cash flows from financing activities Proceeds from issue of share capital 787 Dividends paid -7 513 Increase (+) / decrease (-) in liabilities -17 066 Increase (+) / decrease (-) in lease liabilities 34 610 Cash flows from financing activities, total 10 818 Net change in cash and cash equivalents 18 444 Cash and cash equivalents at period-start 1 850 Translation difference 302 Cash and cash equivalents from acquisitions 21 227 Cash and cash equivalents at period-end 41 823

Sales by segment Sales 1-12/2006 Actual Sales 1-12/2005 Pro Forma EUR 402.4 million EUR 334.3 million Modular space Modular space 16,2 % 17,4 % Finland 14,9 % Finland 17,0 % Other Europe Other Europe 6,9 % 9,5 % Western Western Sweden Europe Sweden Europe 43,1 % 15,3 % 43,4 % 16,4 % Equipment rental Equipment rental 83.8 % 82.6 %

EBITA by segment EBITA 1-12/2006 Actual EBITA 1-12/2005 Pro Forma EUR 72.8 million EUR 40.8 million Modular space Modular space 18,3 % 25,9 % Finland 12,7 % Finland 19,5 % Other Europe 14,7 % Other Europe Sweden 12,0 % Sweden 43,9 % Western Western 39,6 % Europe Europe 10,3 % 3,0 % Equipment rental Equipment rental 81.7 % 74.1 %

Sales by product and customer group Sales by product group 2006 vs. 2005 Sales by customer segm. 2006 vs. 2005 Other 2 % (7 %) Merchandise Households sales and other 3 % (4 %) 7 % (10 %) Building Modular space Public sector machinery rentals services 17 % (13 %) 28 % (30 %) 17 % (17 %) Construction industry 54 % (58 %) Aerial and forklift Construction Other industry rentals machinery 24 % (18%) 17 % (15 %) rentals Site set-up 12 % (11 %) infrastructure and services 19 % (17 %) Aerials, construction machinery rentals and The share of other industry and public site set-up infrastructure & services increasing sector increasing according to plan Note: 2005 figures in parenthesis

Equipment rental – Finland 10-12/06 10-12/05 Change 1-12/06 1-12/05 Change (EUR 1 000) Actual Pro forma % Actual Pro forma % Sales 15 772 14 546 8,4 % 60 227 57 200 5,3 % EBITA 1 943 2 135 -9,0 % 10 370 9 870 5,1 % EBITA-% 12,3 % 14,7 % 17,2 % 17,3 % Q4 and 2006 highlights Finland – 62 depots � Equipment rental operations in Finland did not meet expectations in Q4 and 2006 62 � Sales grew more slowly than the market in 2006 due to � Decline in new construction in Cramo’s main market in Finland, the Helsinki Metropolitan Area � Integration effort had an impact on the Finnish operations in particular � Profitability in 2006 weakened slightly compared to previous year but remained at a healthy level Outlook � Construction activity is expected to continue growing in the next few years � RT* estimate on the construction sector growth in 2007 is 2.5% � Growth expected to take place in all fields of construction � Several large projects about to begin in the Helsinki region � Demand for services associated with equipment rental, such as heating, is clearly increasing and Cramo aims to strengthen position in these services � Cramo expects the equipment rental market and the demand for associated services to grow faster than the construction market � Cramo’s 2007 objective is to improve growth rate and profitability in Finland *The Confederation of Finnish Construction Industries