Annual General MeetingVesa Koivula

18.4.2007

Consolidated income statement

*1-12/2005 figures are pro forma

ChangeEUR (1 000) %

SALES 402 425 334 302 20,4 %Other operating income 3 507 5 252Change in inventories -184 -861Production for own use 7 754 6 230

Materials and services -74 256 -66 137Employee benefits -83 773 -74 026

Amortisation on intangible assets resulting from acquisitions -4 265 -4 230Depreciation -51 060 -45 416Other operating expenses -131 579 -118 593OPERATING PROFIT 68 569 36 521 87,8 %% of sales 17,0 % 10,9 %Finance costs (net) -11 984 -10 954PROFIT BEFORE TAX 56 585 25 567 121,3 %% of sales 14,1 % 7,6 %Income taxes -14 641 -6 888PROFIT FOR THE PERIOD 41 944 18 679 124,6 %% of sales 10,4 % 5,6 %

1-12/ 2006

1-12/ 2005

Consolidated balance sheet

31.12.2006EUR (1 000)ASSETS NON-CURRENT ASSETS Property, plant and equipment 367 950Goodwill 152 802Other intangible assets 95 452Available-for-sale investments 320Receivables 559Deferred income tax assets 2 423TOTAL NON-CURRENT ASSETS 619 506

CURRENT ASSETS Inventories 15 788Trade and other receivables 93 779Cash and cash equivalents 41 823TOTAL CURRENT ASSETS 151 390

TOTAL ASSETS 770 896

31.12.2006EUR (1 000)EQUITY AND LIABILITIES EQUITY Share capital 24 508Share issue 33Share premium fund 186 388Fair value reserve 117Hedging fund 3 301Translation differences 961Retained earnings 76 936TOTAL EQUITY 292 244

RESERVES Reserves 348NON-CURRENT LIABILITIES Deferred income tax liabilities 51 829Interest-bearing liabilities 306 968CURRENT LIABILITIES Trade and other payables 79 008Interest-bearing liabilities 40 499TOTAL LIABILITIES 478 304

TOTAL EQUITY AND LIABILITIES 770 896

67,2

85,089,7 92,4

83,6

96,7105,5

116,6

0,0

20,0

40,0

60,0

80,0

100,0

120,0

140,0

Q1 Q2 Q3 Q4

Qua

rterly

sal

es (E

UR m

illio

n)

2005 pro forma 2006 actual

Cramo Group quarterly sales development 2006Accelerating growth in Q4

+24,4% +13,9% +17,6%Y-o-Ygrowth +26,2%

2,9

11,9

17,6

8,49,8

15,1

25,022,9

0,0

5,0

10,0

15,0

20,0

25,0

30,0

Q1 Q2 Q3 Q4

Qua

rterl

y EB

ITA

(EU

R m

illio

n)

2005 pro forma 2006 actual

Cramo Group quarterly EBITA development 2006Strong Q4

4,3%EBITA % 11,8% 14,0% 15,6% 19,7% 23,7% 9,0% 19,7%

Quarterly EPS performance (diluted)

Note: 2003-05 RK EPS, 2006 RK Cramo EPS. 2003-04 based on Finnish GAAP, 2005-06 IFRS.

0,07

0,12

0,21

0,16

0,07

0,13

0,24

0,110,08

0,21

0,34

0,170,14

0,31

0,43

0,49

0,00

0,10

0,20

0,30

0,40

0,50

0,60

Q1 Q2 Q3 Q4

Qua

rterly

dilu

ted

EP

S (E

UR)

2003 2004 2005 2006

Segment performance

EBITA = Operating profit before amortisation on intangible assets resulting from acquisitions

1-12/06 1-12/05 ChangeSALES, EUR (1 000) Actual Pro forma %Equipment rental

Finland 60 227 57 200 5,3 %Sweden 174 721 145 609 20,0 %Western Europe 66 319 51 435 28,9 %Other Europe 38 446 23 044 66,8 %

Equipment rental, total 339 713 277 287 22,5 %- between the segments -421 -367

Modular space 65 513 58 300 12,4 %- between the segments -2 382 -919

Eliminations -2 803 -1 286

Sales, total 402 425 334 302 20,4 %

1-12/06 1-12/05 ChangeEBITA, EUR (1 000) Actual Pro forma %Equipment rental - Finland 10 370 9 870 5,1 %- Sweden 35 875 19 985 79,5 %- Western Europe 8 447 1 490 466,9 %- Other Europe 11 991 6 070 97,5 %Equipment rental, total 66 683 37 415 78,2 %

Modular space 14 949 13 074 14,3 %

Non-allocated Group activ. -8 614 -9 738Eliminatons -183EBITA, total 72 834 40 751 78,7 %

Sales by segment

Equipment rental83.8 %

EUR 402.4 million

Equipment rental82.6 %

EUR 334.3 million

Sales 1-12/2006 Actual Sales 1-12/2005 Pro Forma

Sweden43,1 %

Finland14,9 %

Modular space16,2 %

Other Europe9,5 %

WesternEurope16,4 %

Finland17,0 %

Sweden43,4 %

Western Europe15,3 %

Other Europe6,9 %

Modular space17,4 %

EBITA by segment

Equipment rental81.7 %

EUR 72.8 million

Equipment rental74.1 %

EUR 40.8 million

EBITA 1-12/2006 Actual EBITA 1-12/2005 Pro Forma

Sweden43,9 %Western

Europe10,3 %

Other Europe14,7 %

Modular space18,3 %

Finland12,7 %

Finland19,5 %

Sweden39,6 %

Modular space25,9 %

Other Europe12,0 %

WesternEurope3,0 %

Sales by product and customer groupSales by product group 2006 vs. 2005 Sales by customer segm. 2006 vs. 2005

Construction industry54 % (58 %)

Public sector17 % (13 %)

Households3 % (4 %)

Other 2 % (7 %)

Other industry24 % (18%)

Merchandise sales and other

7 % (10 %)

Buildingmachinery rentals

28 % (30 %)

Constructionmachinery

rentals12 % (11 %)

Modular spaceservices

17 % (17 %)

Aerial and forklift rentals

17 % (15 %)Site set-up

infrastructure and services

19 % (17 %)

Note: 2005 figures in parenthesis

The share of other industry and public sector increasing according to plan

Aerials, construction machinery rentals and site set-up infrastructure & services increasing

Top 3 European player and #1 or #2 in each market of presence Customers first choiceOne of the most profitableVision

Businessmodel

Distinctivecapabilities

Mission

Values

PartnershipGlocal

Understanding customer needs Service conceptualizationInnovation leader

Create shareholder valueEnhance customers’ competitivenessPromote professional growth

Focused on customer value InnovativenessResult orientation

Technical and functionalexpertiseEfficient fleet management

Personal growthCredibility

Cramo’s vision is to be #1 or #2 in each market of presence

Cramo’s business prioritization

Core areas

Emerging coreareas

Supporting areas

Independent areas

FinlandSweden

EstoniaNorwayLatviaLithuaniaPolandRussiaCzech Republic

Netherlands

Denmark

Russia

Denmark

Netherlands

GermanyPoland

Czech Republic

Austria Hungary

Slovakia

Ukraine

Belarus

Lithuania

Latvia

Estonia

Norway

Sweden

Finland

Romania

MoldovaCore

Emerging core

Supporting business

Geographical markets

Independent business

Belgium

Equipment rental Modular Space

Rental and sales

Industrial halls

Modular spaceproduction

St. Petersburg

Business prioritization

Growth drivers in rental business

• Equipment rental is expected to grow faster than the construction market• In the Nordic countries rental penetration rate estimated to be between 30-40 %, while expected to

eventually reach 60 %• In Central and Eastern Europe rental penetration rate is currently very low, typically under 10 %

Increasing rental

penetration

Growingconstruction

market

Rental relatedservices

• Major growth potential in rental-related services, e g, in various types of site set-up services • Service conceptualisation leading to rental companies taking wider responsibility for their clients’ needs

• Estimated market growth in the Nordic countries between 0-5 % according to Euroconstruct in 2007• In Central and Eastern Europe market growth rates are substantially stronger, 8-15 %• In Russia middle class boosts housing construction, especially in larger cities

Growth drivers Market trends

Outsourcing

Technologicalinnovation

• Construction companies outsourcing their rental business to free up capital for other usage • Service and logistics efficiency• The greater utilisation rate that equipment rental companies can provide for rental equipment

• General exchange of manpower for technology within construction• Rental companies becoming experts in various types of even more specialized machinery

Estimated market shares of available rentalmarket

Market Rental revenues, MEUR

Finland 250Sweden 500Norway 405Denmark 370Poland 100Baltic 115Netherlands 600Russia (St. Petersburg) 30

UK 5,000Germany 3,000France 3,000Spain 800

Total Europe 15,000-16,000

Source: Cramo estimates, construction companies’ internal rental revenue not included in market size/share estimates

25%

35%

9%

5%

2%

41%7%

20%

7%

Cramo market share estimate(% of available market)

9%

European rental marketLeading players by sales

Source: European Rental News June 2006, company reports

Type of operation

Construction equipment, Tool Hire, Powered Access

Tool Hire

Equipment/Construction Plant, Tool Hire, Party/Events, Accommodation, Powered Access

Pumps Groundcare, Trenchless Technology

Equipment/Tool Hire

General Rental

Accommodation

Equipment/Construction Plant, Tool Hire, Party/Events

Equipment/Construction Plant

Equipment/Construction Plant, Tool Hire, Cranes, Accommodation, Hoists, Power, Services

Equipment/Construction Plant, Tool Hire

Cramo Group (FIN)

0

Loxam (F)

Hewden (UK)

Ramirent (FIN)

Speedy Hire Plc (UK)

Algeco (F)

Select Plant Hire (IRL)

Ashtead Plant Hire (UK)

HSS (UK)

Kiloutou (F)

500100 200 300 400

MEUR2005 2006

Cramo’s new growth strategy• After the successful integration of RK and Cramo, the company has

started to execute its growth strategy and the search for new acquisition targets has been initiated

• Cramo has recently made three acquisitions– UAB Aukstumines Sistemos (Lithuania) acquired in December 2006

• Specialized in demanding aerial equipment and work platforms in Lithuania• Cramo achieved market leadership in Lithuania• Consolidated as of January 1, 2007

– Hamar Liftutleie AS (Norway) acquired in January 2007• Specialized in lifting equipment• Strengthens Cramo’s position in the Norwegian market, particularly in the

Ostlandet area– Kongsberg Maskinutleie AS (Norway) acquired in January 2007

• The possibility to enter new markets in Central and Eastern Europe is also being investigated

Future prospects – Summary

In 2007, Cramo expects its sales growth to exceed 10 % and profitability (EBITA-%) to increase against year 2006

Favourable business environment expected to continue. Nordic construction growth expected to stabilize on a slightly lower level, CEE area is expected to experience sustained, strong growth

Equipment rental market is growing faster than the construction market, on an increasing penetration rate

Excellent opportunities to increase market share in the Nordic countries and Central and Eastern Europe

Integration synergies yield stronger earnings

Further consolidation opportunities

Cramo’s financial targets

Sales CAGR > 10 %EBITA-% > 15 %ROI > 13 %Gearing appr. 100 %

Cramo – New name on 24.11.2006One name – one brandStrong visibility in all market areasInternationalisationStreamlined image