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Interim report 1 January – 30 June, 2007

Interim report 1 January – 30 June, 2007. Kari Kallio President and CEO. Contents. Ramirent in brief Financial statements January-June 2007 Market and outlook 2007 Appendices: Income statement & Balance sheet Historical financial data Ten largest shareholders Share price development.

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Interim report 1 January – 30 June, 2007

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  1. Interim report 1 January – 30 June, 2007 Kari Kallio President and CEO

  2. Contents • Ramirent in brief • Financial statements January-June 2007 • Market and outlook 2007 • Appendices: • Income statement & Balance sheet • Historical financial data • Ten largest shareholders • Share price development Interim report 1-6/2007

  3. Ramirent Group in brief • The leading company in Nordics, and Central and Eastern Europe in machinery and equipment rentals for construction and industry • A full range of equipment, from small tools to massive tower cranes • Operating in twelve countries through 296 local outlets with 3,261 employees • EUR 498 million in net sales (2006) • Machinery and equipment rental business since 1955 • Listed on OMX Nordic Exchange Helsinki since 1998 Interim report 1-6/2007

  4. Ramirent is a general rental company Lifts and hoists Modules Scaffolding Formworks Cranes Power & heating Light equipment Other Heavy equipment Interim report 1-6/2007

  5. Access to reliable equipment where and when needed Suppliers The outlet network Customers Construction companies Industry Infrastructure Public Households One stop -shop Interim report 1-6/2007

  6. Key drivers in machinery rental business • Growing construction markets • Especially in Central and Eastern Europe • Increased penetration • Increased usage of equipment • Consolidation of the rental industry • Fragmented industry today • Consolidation is on-going in Western and Northern Europe • European rental market is estimated to EUR 22 bn Interim report 1-6/2007

  7. Customer benefits Source: European Rental Association June 2007 Interim report 1-6/2007

  8. Ramirent operates in 12 countries Ramirent markets Ramirent Europe consists of: Russia, Estonia, Latvia, Lithuania, Poland, Hungary, Ukraine, and Czech Republic Interim report 1-6/2007

  9. Ramirent Group’s operating structure Interim report 1-6/2007

  10. Market leader in the Nordic countries and in Eastern and Central Europe: European competition 2004/05, 2005/06 and 2006/06 sales of rental operations, MEUR Source: IRN, June 2005, June 2006 and June 2007 Interim report 1-6/2007

  11. Rank 8 worldwide Worldwide competition 2006/2007 & 2005/2006 sales of rental operations, MEUR Source: IRN, June 2007 Interim report 1-6/2007

  12. Ramirent is targeting on profitable growth Entering Czech Republic, acquisitions in Sweden and Finland (MEUR) Acquisitions in Poland & Hungary Acquisition of Altima & Treffco Acquisition of Bautas & Stavdal Start of growth strategy Interim report 1-6/2007

  13. Financial targets • Ramirent is targeting on profitable growth and a strong financial position • The financial targets are as follows: • Earnings per share growth of at least 15% per annum • Return on invested capital annually of at least 18% • Dividend payout ratio of at least 40% of the annual net profit Interim report 1-6/2007

  14. Interim report 1-6/2007 – highlights • Strong growth continued • Net sales +30.1% 288.6 (221.8) m€. • Profitability improved • Operating profit (EBIT) +63.6% 62.9 (38.5) m€ • excluding property gains • EBIT-margin improved to 21.8% (17.3%) • Finnish properties sold with gain of 2.4m€ • EPS increased by 40% to EUR 0.42 (0.30) • Strong investments before peak season continued • Capital expenditure was 147.2 (93.3) m€ • Net debt increased temporarily to 279.6 (190.0) m€ and gearing to 99.4% (88.5%). • ROI was 28.4% (22.3%). Interim report 1-6/2007

  15. Key figures 1) The figures are calculated on a rolling twelve month basis Interim report 1-6/2007

  16. Group (2 (2 (1 • Excluding non-recurring profit amounting to 5.4 MEUR realized in Q1 2006 from divestment of properties in Sweden • Excluding non-recurring profit amounting to 2.4 MEUR realized in Q2 2007 from divestment of properties in Finland Net sales development (MEUR), quarterly EBIT development (% of sales), quarterly Interim report 1-6/2007

  17. Finland • Acquisitions from 2006 together with high utilization boosted the growth during 1-6/2007 • The Finnish construction market still strong • The penetration is increasing • Improved market position (1 • Excluding non-recurring profit amounting to 2.4 MEUR realized in Q2 2007 from divestment of properties in Finland EBIT development (% of sales), quarterly Net sales development (MEUR), quarterly EBIT development (% of sales), quarterly Interim report 1-6/2007

  18. Sweden 1) Excluding non-recurring profit amounting to 5.4 MEUR realized in Q1 2006 from divestment of properties Net sales development (MEUR), quarterly EBIT development (% of sales), quarterly • Strong construction market in Sweden, specially in residential housing • Increased market share in lifts after focused investments • Improved efficiency Interim report 1-6/2007

  19. Norway EBIT development (% of sales), quarterly Net sales development (MEUR), quarterly EBIT development (% of sales), quarterly • Strong market continues; lack of labour and materials limits the growth • High utilization of capacity • More aggressive competition on pricing • Highest salary rise in Nordic countries (+5-6%) Interim report 1-6/2007

  20. Denmark EBIT development (% of sales), quarterly Net sales development (MEUR), quarterly EBIT development (% of sales), quarterly • Construction market slightly fading, specially residential housing but rental market still growing • Improved productivity and market position • Re-renting still on a high level, but decreasing after increased investments in own capacity Interim report 1-6/2007

  21. Ramirent Europe EBIT development (% of sales), quarterly Net sales development (MEUR), quarterly EBIT development (% of sales), quarterly • Strong construction market growth in all Ramirent Europe countries • In Hungary the construction market is fading due to excessive budged deficit • High demand and utilization of equipment • Heavy investments in new capacity Interim report 1-6/2007

  22. 145 65 Ramirent markets 23 9 29 24 5 Sweden 5 Norway Finland 1 2 2 27 Estonia 5 2 2 3 38 Latvia Denmark 28 3 3 Lithuania Poland 48 10 10 17 7 Czech Republic 10 11 Ukraine Hungary Russia Source: Euroconstruct June 2007 Interim report 1-6/2007

  23. Construction output in Baltic Sea Area, Eastern Europe and Russia Source: Euroconstruct, June 2007 Interim report 1-6/2007

  24. Market development in Ramirent countries Source: Euroconstruct June 2006 and *National construction association Interim report 1-6/2007

  25. Penetration of machinery rental services in Europe Machinery sold directly to rental companies as percentage of total machinery sales (Source: International Rental News/Kaplan) Interim report 1-6/2007

  26. Outlook 2007 • The good market conditions expected to continue 2007 • Nordic countries: • Ramirent estimates total construction market will grow at the rate of 3-4% • The backlog of the largest Nordic construction companies has grown • The scarce supply of labour and building material may limit the growth. • Central and Eastern European markets • Ramirent estimates a further solid growth. • Rental penetration rate is expected to further rise • Ramirent estimates that the machinery rental markets will grow faster than the construction markets in 2007. • Ramirent is well positioned • Heavy investments in new capacity • Ramirent will also continue to search for bolt-on acquisitions • Ramirent expects to clearly exceed its financial targets. Interim report 1-6/2007

  27. Ramirent OyjP.O.BOX 116Äyritie 12 AFI-01511 Vantaa+358 20 750 200www.ramirent.comFurther information: Kari Kallio, CEO tel: +358 40 716 1832 e-mail: kari.kallio@ramirent.com Heli Iisakka, CFO tel: +358 40 544 6833 e-mail: heli.iisakka@ramirent.com

  28. Income statement Includes non-recurring profit amounting to 5.4 MEUR realized in Q1 2006 from divestment of properties in Sweden and also non-recurring profit amounting to 2.4 MEUR realized in Q2 2007 from divestment of properties in Finland Interim report 1-6/2007

  29. Balance sheet, Assets Interim report 1-6/2007

  30. Balance sheet, Equity and liabilities Interim report 1-6/2007

  31. Condensed cash flow statement Interim report 1-6/2007

  32. Net debt and gearing MEUR Interim report 1-6/2007

  33. Equity and equity ratio MEUR Interim report 1-6/2007

  34. Ten largest shareholders on 30 June, 2007 Interim report 1-6/2007

  35. Latest stock price Interim report 1-6/2007

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