RAMIRENT PLC        INTERIM REPORT   13.5.2009	AT 9:00 AM              



RAMIRENT'S JANUARY - MARCH 2009: REINFORCED CASH FLOW REDUCED GEARING           



Note! Figures in brackets, unless otherwise stated, refer to the same period a  

year earlier.                                                                   



FIRST QUARTER HIGHLIGHTS                                                        

- Net sales of EUR 122.2 (162.1) million                                        

- Operating profit of EUR 7.2 (29.5) million with a margin of 5.9% (18.2%)      

- Net profit of EUR 0.5 (19.5) million corresponding EPS 0.00 (0.18)            

- Capital expenditure was EUR 2.5 (93.0) million                                

- Operative cash flow after investments of EUR 17.9 (-54.8) million             

- Gearing decreased from 107.8% at year-end 2008 to 99.4% (81.3%).              



OUTLOOK                                                                         

The financial outlook for 2009 is unchanged. Due to the high level of           

uncertainty and low visibility, no profit guidance is given.                    



--------------------------------------------------------------------------------

| (EUR million)               | 1-3/2009 | 1-3/2008 |     Change |   1-12/2008 |

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

| Net sales                   |    122.2 |    162.1 |     -24.6% |       702.6 |

--------------------------------------------------------------------------------

| Operating profit before     |     30.3 |     52.1 |     -41.8% |       188.8 |

| depreciation (EBITDA)       |          |          |            |             |

--------------------------------------------------------------------------------

| Operating profit (EBIT)     |      7.2 |     29.5 |     -75.6% |        79.7 |

--------------------------------------------------------------------------------

| % of net sales              |     5.9% |    18.2% |            |       11.3% |

--------------------------------------------------------------------------------

| Profit before taxes (EBT)   |      0.9 |     26.2 |     -96.4% |        50.7 |

--------------------------------------------------------------------------------

| Net profit for the period   |      0.5 |     19.5 |     -97.3% |        33.7 |

--------------------------------------------------------------------------------

| Earnings per share (EPS)    |     0.00 |     0.18 |     -97.3% |        0.31 |

| diluted and non-diluted,    |          |          |            |             |

| EUR                         |          |          |            |             |

--------------------------------------------------------------------------------

| Return on invested capital  |    14.0% |    28.6% |          - |       17.6% |

| (ROI), % 1)                 |          |          |            |             |

--------------------------------------------------------------------------------

| Net debt                    |    281.2 |    292.0 |      -3.7% |       303.0 |

--------------------------------------------------------------------------------

| Gearing, %                  |    99.4% |    81.3% |          - |      107.8% |

--------------------------------------------------------------------------------

| Equity ratio, %             |    39.8% |    43.7% |          - |       37.4% |

--------------------------------------------------------------------------------

| Gross capital expenditure   |      2.5 |     93.0 |     -97.3% |       201.3 |

--------------------------------------------------------------------------------

| Operative cash flow after   |     17.9 |    -54.8 |     132.7% |         7.0 |

| investments                 |          |          |            |             |

--------------------------------------------------------------------------------

| Personnel at end of period  |    3 502 |    3 961 |     -11.6% |       3 894 |

--------------------------------------------------------------------------------

| 1) Calculated on a rolling  |          |          |            |             |

| twelve month basis.         |          |          |            |             |

--------------------------------------------------------------------------------





MAGNUS ROSÉN, RAMIRENT CEO:                                                     

”The market conditions continued to decline in the first quarter. 2009 will     

prove to be a challenging year and our near-term priority remains on            

safeguarding profitability and cash flow in order to amortize debt. The         

cost-saving actions initiated at the end of 2008 are progressing according to   

plan, but due to the slow start of 2009, the action program was reinforced      

during the review period. At the end of the first quarter our workforce had     

decreased by 535 persons since the start of the first cost saving program. Our  

focus lies on implementing cost saving actions, continuing to right-size our    

fleet and re-allocating fleet capacity between markets to support price level   

and utilisation. We have developed contingency plans to address the risk of     

further market decline.”                                                        





RAMIRENT'S JANUARY - MARCH 2009 INTERIM REPORT                                  



MARKET REVIEW                                                                   



During the review period, the market situation weakened further in our markets  

and especially in Eastern Europe. Construction activity slowed dramatically in  

the Baltic States as well as in Ukraine and in Russia. In the Nordic region, the

Danish and Norwegian markets remained silent, and signs of a significant        

contraction were seen also in Finland and Sweden during the first quarter. In   

our Central European countries, the construction market continued to grow in    

Poland, but contracted in Czech Republic and Slovakia. In Hungary, the recession

continued and construction activity remained on a low level. In all Ramirent    

countries, low visibility and high uncertainty continued due to the global      

economic slowdown.                                                              



NET SALES                                                                       



Group net sales decreased by -24.6% to EUR 122.2 (162.1) million due to         

declining construction activity and weakening in the Group's major operational  

currencies. At comparable currency rates first quarter net sales decreased by   

-17%. All segments' net sales declined compared to the corresponding period     

previous year. The sharpest decline was seen in Europe East (-53.6%). Net sales 

by segment were as follows:                                                     





--------------------------------------------------------------------------------

| Net sales                  |          |            |            |            |

--------------------------------------------------------------------------------

| (EUR million)              |  1-3/09  |   1-3/08   |   Change   |    1-12/08 |

--------------------------------------------------------------------------------

| Finland                    |     28.7 |       33.4 |    -14.1 % |      154.4 |

--------------------------------------------------------------------------------

| Sweden                     |     32.0 |       41.7 |    -23.1 % |      171.4 |

--------------------------------------------------------------------------------

| Norway                     |     28.9 |       37.1 |    -22.1 % |      145.9 |

--------------------------------------------------------------------------------

| Denmark                    |     11.3 |       13.7 |    -17.6 % |       59.0 |

--------------------------------------------------------------------------------

| Europe Group East          |      9.3 |       20.0 |    -53.6 % |       89.9 |

--------------------------------------------------------------------------------

| Europe Group Central       |     14.1 |       16.6 |    -15.1 % |       88.7 |

--------------------------------------------------------------------------------

| Elimination of sales       |     -2.1 |       -0.5 |          - |       -6.7 |

| between segments           |          |            |            |            |

--------------------------------------------------------------------------------

| Net sales, total           |    122.2 |      162.1 |    -24.6 % |      702.6 |

--------------------------------------------------------------------------------





FINANCIAL RESULT                                                                



Operating profit before depreciation (EBITDA) was EUR 30.3 (52.1) million.      

The lower sales levels especially in Europe East and Denmark, lower fleet       

utilization, tougher price competition and higher depreciations burdened        

profitability. Fixed costs were reduced compared to the previous year, but not  

to the extent that it compensated fully for the decline in net sales. The       

Group's operating profit (EBIT) was 7.2 (29.5) with a margin of 5.9% (18.2%).   

Operating profit and margin by segment were as follows:                         



--------------------------------------------------------------------------------

| Operating profit            |           |            |            |          |

--------------------------------------------------------------------------------

| (EUR million)               |  1-3/09   |   1-3/08   |   Change   |  1-12/08 |

--------------------------------------------------------------------------------

| Finland                     |       0.9 |        6,5 |     -86.5% |     30.5 |

--------------------------------------------------------------------------------

| % of net sales              |      3.1% |      19.6% |          - |    19.8% |

--------------------------------------------------------------------------------

| Sweden                      |       5.3 |        9.0 |     -41.3% |     29.9 |

--------------------------------------------------------------------------------

| % of net sales              |     16.6% |      21.7% |          - |    17.4% |

--------------------------------------------------------------------------------

| Norway                      |       2.5 |        6.9 |     -63.6% |     15.1 |

--------------------------------------------------------------------------------

| % of net sales              |      8.7% |      18.6% |          - |    10.4% |

--------------------------------------------------------------------------------

| Denmark                     |      -0.1 |        0.8 |    -108.8% |      0.7 |

--------------------------------------------------------------------------------

| % of net sales              |     -0.6% |       5.9% |          - |     1.1% |

--------------------------------------------------------------------------------

| Europe Group East           |      -3.3 |        4.1 |    -180.7% |     -1.4 |

--------------------------------------------------------------------------------

| % of net sales              |    -35.8% |      20.6% |          - |    -1.5% |

--------------------------------------------------------------------------------

| Europe Group Central        |       0.7 |        1.5 |     -53.4% |      8.4 |

--------------------------------------------------------------------------------

| % of net sales              |      5.1% |       9.2% |          - |     9.5% |

--------------------------------------------------------------------------------

| Net items not allocated to  |       1.2 |        0.6 |          - |     -3.5 |

| operating segments          |           |            |            |          |

--------------------------------------------------------------------------------

| Group operating profit      |       7.2 |       29.5 |     -75.6% |     79.7 |

--------------------------------------------------------------------------------

| % of net sales              |      5.9% |      18.2% |          - |    11.3% |

--------------------------------------------------------------------------------



The net financial items increased to EUR -6.2 (-3.3) million mainly due to      

currency exchange losses.                                                       



The Group's profit before taxes for the review period was EUR 0.9 (26.2)        

million. The effective tax rate for the review period was 43.7% (25.5%). The net

profit for the review period was EUR 0.5 (19.5) million. Earnings per share were

EUR 0.00 (0.18). The return on invested capital was 14.0% (28.6%) and the return

on equity was 4.6% (34.1%).                                                     





CAPITAL EXPENDITURE AND DEPRECIATION                                            



The Group's gross capital expenditure on non-current assets totalled EUR 2.5    

(93.0) million, of which EUR 2.0 (79.8) million was attributable to investments 

in machinery and equipment.                                                     



Disposals of tangible non-current assets at book value were EUR 2.3 (4.7)       

million, of which EUR 2.3 (2.7) million were attributable to machinery and      

equipment. The sales value of the tangible non-current assets amounted to EUR   

4.1 million. Net capital expenditure amounted to EUR 0.2 (88.3) million.        



The total depreciation and write-off of non-current assets during the review    

period amounted to EUR 23.1 (22.6) million, of which EUR 21.8 (22.0) million    

were attributable to machinery and equipment.                                   



Goodwill totalled EUR 82.9 (95.7) million at the end of the review period. The  

decrease in goodwill from the year-end 2008 level of EUR 87.4 million was mainly

due to revised considerations for future earn-out payments on acquisitions.     





CASH FLOW AND FINANCIAL POSITION                                                



The Group's first quarter cash flow from operating activities amounted to EUR   

16.2 (30.9) million. Cash flow from investing activities amounted to EUR 1.7    

(-85.7) million. Cash flow from operating and investing activities totalled to  

EUR 17.9 (-54.8) million. Cash flow from financing activities totalled EUR -18.6

(56.0) million. At the end of the review period, liquid assets stood at EUR 1.3 

(2.4) million, resulting in a net change in cash of EUR -0.7 (1.2) million      

compared to year-end 2008.                                                      



Ramirent's interest-bearing liabilities totalled EUR 282.5 (294.4) million. Net 

debt amounted to EUR 281.2 (292.0) million at the end of the review period.     

Gearing decreased from 107.8% at year-end 2008 to 99.4% (81.3%). Priority is    

given to generate a positive cash flow in order to reduce net debt further.     



At the end of the review period, Ramirent had unused committed back-up loan     

facilities available of EUR 185 million.                                        

                                                                                

Total assets amounted to EUR 710.9 (822.8) million. The value of Group          

consolidated assets compared to previous year was affected by weakening of      

several currencies. Group equity totalled EUR 282.9 (359.3) million. The Group's

equity ratio was 39.8% (43.7%).                                                 





CHANGES IN GROUP MANAGEMENT                                                     

On 15 January, 2009 Magnus Rosén, 46, [M.Sc.(Econ.), MBA] started as CEO of the 

Ramirent Group. Magnus Rosén succeeded Kari Kallio, who retired at the AGM 2009.

A new management structure was introduced on 15 January 2009 in order to shorten

decision-making paths and drive higher synergies between the operating segments.

As of 15 January, the Group management team consists of the following members:  



- Magnus Rosén, President and CEO of Ramirent Group                             

- Heli Iisakka, CFO                                                             

- Kari Aulasmaa, SVP, Finland and Europe East                                   

- Mikael Öberg, SVP, Sweden and Scandinavia                                     

- Tomasz Walawender, SVP, Europe Central                                        

- Eivind Boe, MD, Norway                                                        

- Paula Koppatz, General Counsel                                                

- Franciska Janzon, Director, Corporate Communications                          





ADOPTION OF A NEW FINANCIAL TARGET                                              



The Board of Directors of Ramirent Group adopted a new financial target related 

to financial gearing on February 11, 2009 and confirmed the existing long-term  

targets. The Group's financial targets over a business cycle are: earnings per  

share growth of at least 15% p.a. and a return on invested capital of at least  

18% p.a. In addition, a gearing target of less than 120% at the end of each     

financial year was set for the first time at Group level. Ramirent's policy with

respect to the ordinary dividend is to distribute at least 40% of annual        

earnings per share to the shareholders.                                         





PERSONNEL AND OUTLET NETWORK                                                    





--------------------------------------------------------------------------------

|                        | Employees  | Employees  | Outlets     | Outlets     |

|                        | 31 March   | 31 March   | 31 March    | 31 March    |

--------------------------------------------------------------------------------

|                        |       2009 |       2008 |        2009 |        2008 |

--------------------------------------------------------------------------------

| Finland                |        655 |        673 |          87 |          96 |

--------------------------------------------------------------------------------

| Sweden                 |        615 |        651 |          57 |          57 |

--------------------------------------------------------------------------------

| Norway                 |        588 |        689 |          40 |          37 |

--------------------------------------------------------------------------------

| Denmark                |        196 |        253 |          20 |          18 |

--------------------------------------------------------------------------------

| Europe East            |        489 |        677 |          46 |          52 |

--------------------------------------------------------------------------------

| Europe Central         |        941 |       1002 |         101 |          99 |

--------------------------------------------------------------------------------

| Group administration   |         18 |         16 |             |             |

--------------------------------------------------------------------------------

| Total                  |       3502 |       3961 |         351 |         359 |

--------------------------------------------------------------------------------





COST SAVING ACTIONS REINFORCED                                                  



The cost savings program initiated in December 2008 targeting annual fixed cost 

savings of EUR 50 million is progressing according to plan.                     



On 12 March, 2009 Ramirent Plc announced reinforcing its action program and     

reducing its workforce further by at least 150 persons, in addition to the      

previously announced reduction of 600 persons, due to the weak development in   

the first two months of the year. At the same time, the Board of Directors also 

rescinded its dividend proposal of EUR 0.15 per share and proposed that no      

dividend be paid for the financial year 2008.                                   



The reinforced action program focuses on strengthening the cash flow in order to

amortise debt. A comprehensive review has been done by all cost items, improving

working capital management, intensifying efforts to right-size fleet capacity   

and fleet re-allocation between countries to improve utilisation. The actions   

also consist of a comprehensive restructuring program reorganising Ramirent's   

Baltic operations in order to adjust the cost structures to the current sales   

levels and drive higher synergies.                                              



The first cost saving program launched in December 2008 mainly targeted the     

Nordic countries and Eastern Europe, whilst the second program also addressed   

Central Europe. The reinforced actions are aimed to adjust the share of fixed   

costs during the second half of year 2009, which were still on a high level in  

the first quarter compared to the decrease in market demand. At the end of the  

review period, the Group's workforce had decreased by 535 persons and fixed     

costs were at a 22% lower level compared to the level in the third quarter of   

2008 when the first cost saving program started.                                

                                                                                

Contingency plans have been developed for each country to be able to act rapidly

to further market decline.                                                      





DEVELOPMENT BY OPERATING SEGMENT                                                



Ramirent has adopted IFRS 8 (Operating segments) as of 1 January, 2009. The     

specification of assets by operating segment is presented in the notes to the   

interim financial report.                                                       



Sweden                                                                          



In Sweden, net sales declined by -23% to EUR 32.0 (41.7) million. At comparable 

currency rates the decline was -11%. Signs of contraction were seen in various  

geographical areas especially in Southern Sweden during the first quarter. The  

operating profit (EBIT) was EUR 5.3 (9.0) million with a margin of 16.6%        

(21.7%). Despite the rapid decline in sales, profitability was supported by     

adjustments in costs for outsourced services and materials.                     



Norway                                                                          



In Norway, Ramirent's Norwegian subsidiary Bautas AS's net sales declined by    

-22% to EUR 28.9 (37.1) million due to overall weakened demand for rental       

equipment especially in the capital city area. At comparable currency rates the 

decline in net sales was -12%. The operating profit (EBIT) was EUR 2.5 (6.9)    

million with a margin of 8.7% (18.6%). Profitability was burdened by tougher    

price competition in certain product areas and the positive impact of cost      

saving actions had not yet fully materialised to offset the lower sales levels. 

                                                                                

Denmark                                                                         



In Denmark, net sales declined by -18% to EUR 11.3 (13.7) million due to        

continuing slowdown in construction activity. The operating profit (EBIT) was   

EUR -0.1 (0.8) million with a margin of -0.6% (5.9%). The share of fixed costs  

was still too high to offset the lower sales levels and aggressive competition  

continued to lower the price levels affecting profitability negatively.         



Finland                                                                         



In Finland, net sales declined by -14% to EUR 28.7 (33.4) million. The demand   

for rental equipment especially relating to renovation work and industrial      

projects remained on a good level. The operating profit (EBIT) was EUR 0.9 (6.5)

million with a margin of 3.1% (19.6%). Profitability weakened due to the rapid  

decline in sales and increased price competition in certain product areas while 

the impact of cost saving actions is expected to materialise mainly in the      

second half of year 2009.                                                       



Europe East                                                                     



In Europe East (Russia, Estonia, Latvia, Lithuania and Ukraine), net sales      

declined by -54% to EUR 9.3 (20.0) million due to weakened market conditions.   

Sales decreased in all Europe East countries. The decline was especially rapid  

in the Baltic States. The operating profit (EBIT) was EUR -3.3 (4.1) million    

with a margin of -35.8% (20.6%). Profitability was burdened by the rapid decline

in sales, lower price levels, increased transportation costs and decreased fleet

utilisation. A comprehensive restructuring program was started to reorganise    

Baltic operations in order to adjust the cost structure to the current sales    

levels and increase synergies.                                                  



Europe Central                                                                  



In Europe Central (Poland, Hungary, the Czech Republic and Slovakia), net sales 

decreased by -15% to EUR 14.1 (16.6) million. At comparable currencies net sales

grew by 1%. Sales growth continued but at a slower pace in Poland, whilst it    

declined in the Czech Republic and in Slovakia due to slowing construction      

activity and longer winter conditions. Hungary posted a small sales growth      

despite the continued weak underlying market. The operating profit (EBIT) was   

EUR 0.7 (1.5) million with a margin of 5.1% (9.2%). Profitability was burdened  

by tougher price competition in certain product areas and an increase in        

depreciations due to the high level of investments made in 2008. Preparations   

started to introduce new product lines to the product portfolio in Europe       

Central, in accordance with Ramirent's concept to be a one-stop-shop solutions  

provider in its operating markets.                                              





EVENTS AFTER THE REVIEW PERIOD                                                  



Decisions made by the Annual General Meeting on 2 April 2009                    



The Annual General Meeting of Ramirent Plc held on 2 April 2009 approved the    

financial statements for the fiscal year 2008 and discharged the members of the 

Board of Directors and the President and CEO from liability. In addition, the   

Annual General Meeting approved the amendment of the section 10 of the Articles 

of Association and authorised the Board to decide on the acquisition of up to a 

maximum of 10,869,732 of own shares and to convey a maximum of 10,869,732 shares

against payment as well as decide on the issue of a maximum of 21,739,465 new   

shares                                                                          



The Annual General Meeting resolved that the number of members of the Board of  

Directors be reduced from seven (7) to six (6) members and re-elected for a term

until the close of the next Annual General Meeting the following members of the 

Ramirent Board: Kaj-Gustaf Bergh, Torgny Eriksson, Peter Hofvenstam, Ulf        

Lundahl, Erkki Norvio and Susanna Renlund. The Annual General Meeting resolved  

that the remuneration of the Board of Directors be unchanged from 2008 levels.  



KPMG Oy Ab, a firm of Authorized Public Accountants, was re-elected auditor.    

Pauli Salminen, APA, is the main responsible auditor appointed by KPMG Oy Ab.   



Dividend                                                                        



The Annual General Meeting adopted the proposal by the Board of Directors that  

no dividend be paid for fiscal year 2008.                                       



Board of Director's organisational meeting of 2 April 2009                      



In its organisational meeting on April 2, 2009 the Board elected from among its 

members Peter Hofvenstam as its Chairman and Susanna Renlund as Vice Chairman.  

The Board of Directors established a Working Committee. The duties, include     

among other, the duties of an audit committee, which were assigned to the       

established working committee. Peter Hofvenstam, Kaj-Gustaf Bergh, Ulf Lundahl  

and Susanna Renlund were elected members and Peter Hofvenstam was elected       

Chairman of the Working Committee.                                              



Mikael Öberg resigns from Ramirent                                              



Mikael Öberg, Senior Vice President, Scandinavia in the Ramirent Group, informed

the Company on 12 May 2009 that he has decided to leave Ramirent for a leading  

position in another industry. The search for a successor will be commenced      

immediately. Mr. Öberg will remain in his present position until 10 November    

2009, or until a replacement is in place.                                       





SHARES AND SHAREHOLDERS                                                         



Trading in the share                                                            



Ramirent Plc's market capitalization at the end of the review period was EUR 261

(1,303) million. At the end of the review period trading closed at EUR 2.40     

(11.99). The highest quotation for the period was EUR 3.95 (12.46), and the     

lowest EUR 2.40 (8.53). The average trading price was EUR 3.10 (11.05).         



The value of share turnover during the review period was EUR 52 (319) million   

equivalent to 16,929,515 (29,112,587) traded Ramirent shares, i.e. 15.6% (26.8%)

of Ramirent's total number of shares.                                           



Share capital and number of shares                                              



At the end of the review period, Ramirent Plc's share capital was EUR 25,000,000

and the total number of Ramirent shares was 108,697,328.                        



Own shares                                                                      



Ramirent Plc did not hold any of its own shares during the period under review. 





ESSENTIAL RISKS AFFECTING RAMIRENT'S OPERATIONS                                 



Ramirent is subject to various business risks. Certain risk factors are deemed  

to be of material importance to the future development of Ramirent. Risks are   

evaluated in relation to achievement of the Company's financial and strategic   

targets. Overall Ramirent expects that the risk exposure has increased by       

effectiveness and probability due to the turmoil in the financial markets and   

the economic cycle of the construction markets.                                 



The main risks affecting Ramirent's business operations, its profitability and  

financial position are those connected with the economic cycles of the          

construction industry and the increased competition in the rental sector in its 

operating countries. The main risks are described in the annual report 2008.    





MARKET AND RAMIRENT OUTLOOK                                                     



Ongoing uncertainty in the financial markets continues to impact overall        

activity and further reduce confidence in the general construction market.      

Forecasts indicate that the construction volume will decline significantly in   

most of Ramirent's operating countries in 2009.                                 



Ramirent's near-term priority is to safeguard profitability and cash flow in    

order to amortize debt. Focus lies on implementing cost saving actions,         

continuing to right-size fleet capacity and re-allocating fleet between markets 

to improve utilisation. We have developed contingency plans to address the risk 

of further market decline.                                                      



In the long-term the equipment rental sector continues to enjoy significant     

strengths. Although a cyclical and capital-intensive sector, the business       

remains cash generative and cash flow is reinforced by reduced investment       

spending in a downturn. The current downturn serves also as an opportunity to   

start building a more scalable business model with increased flexibility to     

adjust costs to changes in the demand curve, improving Ramirent's overall risk  

profile. We will also continue to develop our business model by carefully       

considering which markets we want to be in, what customers we focus on and what 

products we want to have in our offering. Our goal is to maintain market leading

positions in the countries where we are present and continue our long-term      

profitable growth, however, by maintaining risk control.                        



The financial outlook for 2009 is unchanged. Due to the high level of           

uncertainty and low visibility, no profit guidance is given.                    





FORWARD-LOOKING STATEMENTS                                                      



It should be noted that certain statements in this report, which are not        

historical facts, including, without limitation, those regarding                

expectations for general economic development and market situation;             

regarding customer industry profitability and investment willingness; for       

company growth, development and profitability; regarding cost savings; regarding

fluctuations in exchange rates and interest levels; regarding the success of    

pending and future acquisitions and restructurings; and statements preceded by  

"believes," "expects," "anticipates," "foresees" or similar expressions, are    

forward-looking statements.                                                     



These statements are based on current expectations, and currently known facts.  

Therefore, they involve risks and uncertainties, which may cause actual results 

to materially differ from the results currently expected by the company.        





SUMMARY FINANCIAL STATEMENTS AND NOTES                                          



The interim financial statements have been prepared in accordance with          

International Accounting Standards (IAS) 34 Interim Financial Reporting,        

as adopted by the EU.                                                           



As of 1 January 2009 Ramirent applies the following new and revised standards:  

IFRS 8 Operating Segments and IAS 1 Presentation of Financial Statements.       

Otherwise the same Accounting Principles have been applied as                   

in the 2008 Financial Statements. Key financial figure calculations remain      

unchanged and have been presented in the 2008 Financial Statements.             



--------------------------------------------------------------------------------

| INCOME STATEMENT                     |            |            |             |

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

| (EUR 1,000)                          |     1-3/09 |     1-3/08 |     1-12/08 |

--------------------------------------------------------------------------------

|                                      |            |            |             |

--------------------------------------------------------------------------------

| Net sales                            |    122 214 |    162 076 |     702 635 |

--------------------------------------------------------------------------------

| Other operating income               |        625 |      1 658 |       3 817 |

--------------------------------------------------------------------------------

| Total                                |    122 839 |    163 734 |     706 452 |

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

| Materials and services               |    -35 374 |    -47 328 |    -208 186 |

--------------------------------------------------------------------------------

| Employee benefit expenses            |    -34 685 |    -42 890 |    -176 372 |

--------------------------------------------------------------------------------

| Depreciation and amortisation        |    -23 130 |    -22 606 |    -109 107 |

--------------------------------------------------------------------------------

| Other operating expenses             |    -22 462 |    -21 458 |    -133 074 |

--------------------------------------------------------------------------------

| Operating profit                     |      7 189 |     29 452 |      79 713 |

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

| Financial income                     |      8 524 |      2 444 |      22 658 |

--------------------------------------------------------------------------------

| Financial expenses                   |    -14 764 |     -5 729 |     -51 713 |

--------------------------------------------------------------------------------

| Profit before taxes                  |        949 |     26 167 |      50 658 |

--------------------------------------------------------------------------------

| Income taxes                         |       -415 |     -6 687 |     -16 944 |

--------------------------------------------------------------------------------

| NET PROFIT FOR THE PERIOD            |        534 |     19 480 |      33 715 |

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

| Profit for the period attributable   |            |            |             |

| to:                                  |            |            |             |

--------------------------------------------------------------------------------

| Owners of the parent                 |        534 |     19 481 |      33 715 |

--------------------------------------------------------------------------------

| Non-controlling interests            |          - |         -1 |           - |

--------------------------------------------------------------------------------

| Total                                |        534 |     19 480 |      33 715 |

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

| Earnings per share (EPS), basic and  |          - |       0.18 |        0.31 |

| diluted, EUR                         |            |            |             |

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

| STATEMENT OF COMPREHENSIVE INCOME    |            |            |             |

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

| (EUR 1,000)                          |     1-3/09 |     1-3/08 |     1-12/08 |

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

| NET PROFIT FOR THE PERIOD            |        534 |     19 480 |      33 715 |

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

| Other comprehensive income:          |            |            |             |

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

| Fair value adjustment of interest    |     -1 382 |       -934 |      -3 885 |

| rate SWAPs                           |            |            |             |

--------------------------------------------------------------------------------

| Translation differences              |      2 279 |     -1 230 |     -36 408 |

--------------------------------------------------------------------------------

| Income tax relating to components of |        359 |        243 |       1 010 |

| other comprehensive income           |            |            |             |

--------------------------------------------------------------------------------

| Other comprehensive income for the   |      1 256 |     -1 921 |     -39 283 |

| year, net of tax                     |            |            |             |

--------------------------------------------------------------------------------

| TOTAL COMPREHENSIVE INCOME/EXPENSE   |      1 791 |     17 559 |      -5 568 |

| FOR THE YEAR                         |            |            |             |

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

| Total comprehensive income for the   |            |            |             |

| period attributable to:              |            |            |             |

--------------------------------------------------------------------------------

| Owners of the parent                 |      1 791 |     17 560 |      -5 568 |

--------------------------------------------------------------------------------

| Non-controlling interests            |          - |         -1 |           - |

--------------------------------------------------------------------------------

| Total                                |      1 791 |     17 559 |      -5 568 |

--------------------------------------------------------------------------------



STATEMENT OF FINANCIAL POSITION                                                 



--------------------------------------------------------------------------------

| ASSETS                          |              |             |               |

--------------------------------------------------------------------------------

| (EUR 1,000)                     |    31.3.2009 |   31.3.2008 |    31.12.2008 |

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

| NON-CURRENT ASSETS              |              |             |               |

--------------------------------------------------------------------------------

| Tangible assets                 |      506 684 |     566 352 |       528 780 |

--------------------------------------------------------------------------------

| Goodwill                        |       82 913 |      95 661 |        87 398 |

--------------------------------------------------------------------------------

| Other intangible assets         |        6 532 |       2 042 |         6 986 |

--------------------------------------------------------------------------------

| Available-for-sale investments  |           77 |          95 |            79 |

--------------------------------------------------------------------------------

| Deferred tax assets             |        7 190 |       3 043 |         6 117 |

--------------------------------------------------------------------------------

| NON-CURRENT ASSETS, TOTAL       |      603 396 |     667 193 |       629 359 |

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

| CURRENT ASSETS                  |              |             |               |

--------------------------------------------------------------------------------

| Inventories                     |       16 008 |      24 591 |        21 258 |

--------------------------------------------------------------------------------

| Trade and other receivables     |       86 272 |     126 666 |        99 055 |

--------------------------------------------------------------------------------

| Income tax receivables on the   |        3 288 |         946 |           377 |

| taxable income for the          |              |             |               |

| financial period                |              |             |               |

--------------------------------------------------------------------------------

| Cash and cash equivalents       |        1 333 |       2 435 |         2 072 |

--------------------------------------------------------------------------------

| CURRENT ASSETS, TOTAL           |      106 901 |     154 638 |       122 762 |

--------------------------------------------------------------------------------

| Non-current assets held for     |          559 |       1 015 |           559 |

| sale                            |              |             |               |

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

| TOTAL ASSETS                    |      710 855 |     822 846 |       752 679 |

--------------------------------------------------------------------------------



EQUITY AND LIABILITIES                                                          



--------------------------------------------------------------------------------

| (EUR 1,000)                     |    31.3.2009 |   31.3.2008 |    31.12.2008 |

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

| EQUITY                          |              |             |               |

--------------------------------------------------------------------------------

| Share capital                   |       25 000 |      11 685 |        25 000 |

--------------------------------------------------------------------------------

| Share premium fund              |            - |     126 644 |             - |

--------------------------------------------------------------------------------

| Free equity fund                |      113 329 |           - |       113 329 |

--------------------------------------------------------------------------------

| Retained earnings               |      144 557 |     220 243 |       142 766 |

--------------------------------------------------------------------------------

| PARENT COMPANY SHAREHOLDERS'    |      282 886 |     358 572 |       281 095 |

| EQUITY                          |              |             |               |

--------------------------------------------------------------------------------

| Minority interests              |            - |         757 |             - |

--------------------------------------------------------------------------------

| EQUITY, TOTAL                   |      282 886 |     359 329 |       281 095 |

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

| NON-CURRENT LIABILITIES         |              |             |               |

--------------------------------------------------------------------------------

| Deferred tax liabilities        |       44 889 |      44 911 |        46 273 |

--------------------------------------------------------------------------------

| Pension obligations             |        7 466 |       8 180 |         7 030 |

--------------------------------------------------------------------------------

| Provisions                      |        7 048 |       1 009 |         6 929 |

--------------------------------------------------------------------------------

| Interest-bearing liabilities    |      264 170 |     215 004 |       275 731 |

--------------------------------------------------------------------------------

| NON-CURRENT LIABILITIES, TOTAL  |      323 573 |     269 104 |       335 962 |

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

| CURRENT LIABILITIES             |              |             |               |

--------------------------------------------------------------------------------

| Trade payables and other        |       66 003 |     102 533 |        81 445 |

| liabilities                     |              |             |               |

--------------------------------------------------------------------------------

| Provisions                      |       15 398 |         418 |        17 452 |

--------------------------------------------------------------------------------

| Income tax liabilities on the   |        4 654 |      12 040 |         7 401 |

| taxable income for the          |              |             |               |

| financial period                |              |             |               |

--------------------------------------------------------------------------------

| Interest-bearing liabilities    |       18 342 |      79 422 |        29 325 |

--------------------------------------------------------------------------------

| CURRENT LIABILITIES, TOTAL      |      104 397 |     194 413 |       135 622 |

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

| LIABILITIES, TOTAL              |      427 970 |     463 517 |       471 584 |

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

| TOTAL EQUITY AND LIABILITIES    |      710 855 |     822 846 |       752 679 |

--------------------------------------------------------------------------------





--------------------------------------------------------------------------------

| CONDENSED CASH FLOW STATEMENT                                 |              |

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

| (EUR million)                      |     1-3/09 |      1-3/08 |      1-12/08 |

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

| Cash flow from operating           |       16.2 |        30.9 |        168.5 |

| activities                         |            |             |              |

--------------------------------------------------------------------------------

| Cash flow from investing           |        1.7 |       -85.7 |       -161.5 |

| activities                         |            |             |              |

--------------------------------------------------------------------------------

| Cash flow from financing           |            |             |              |

| activities                         |            |             |              |

--------------------------------------------------------------------------------

| Borrowings/ repayments of          |       -8.0 |        10.5 |        -39.4 |

| short-term debt                    |            |             |              |

--------------------------------------------------------------------------------

|    Borrowings of long-term debt    |      -10.6 |        45.5 |         87.6 |

--------------------------------------------------------------------------------

|    Dividends paid                  |          - |           - |        -54.3 |

--------------------------------------------------------------------------------

| Cash flow from financing           |      -18.6 |        56.0 |         -6.1 |

| activities                         |            |             |              |

--------------------------------------------------------------------------------

| Net change in cash and cash        |       -0.7 |         1.2 |          0.9 |

| equivalents                        |            |             |              |

--------------------------------------------------------------------------------

| Cash and cash equivalents at the   |        2.1 |         1.2 |          1.2 |

| beginning of the period            |            |             |              |

--------------------------------------------------------------------------------

| Translation difference on cash and |        0.1 |         0.0 |          0.1 |

| cash equivalents                   |            |             |              |

--------------------------------------------------------------------------------

| Net change in cash and cash        |       -0.8 |         1.2 |          0.7 |

| equivalents                        |            |             |              |

--------------------------------------------------------------------------------

| Cash and cash equivalents at the   |        1.3 |         2.4 |          2.1 |

| end of the period                  |            |             |              |

--------------------------------------------------------------------------------





--------------------------------------------------------------------------------

| STATEMENT OF CHANGES IN       |      |       |     |       |     |           |

| EQUITY                        |      |       |     |       |     |           |

--------------------------------------------------------------------------------

| (EUR 1,000)                                                                  |

--------------------------------------------------------------------------------

| A=Share capital  |     |      |      |       |     |       |         |       |

--------------------------------------------------------------------------------

| B=Share premium fund   |      |      |       |     |       |         |       |

--------------------------------------------------------------------------------

| C=Free equity fund     |      |      |       |     |       |         |       |

--------------------------------------------------------------------------------

| D=Translation          |      |      |       |     |       |         |       |

| differences            |      |      |       |     |       |         |       |

--------------------------------------------------------------------------------

| E=Revaluation fund     |      |      |       |     |       |         |       |

--------------------------------------------------------------------------------

| F=Retained earnings    |      |      |       |     |       |         |       |

--------------------------------------------------------------------------------

| G=Entries on non-current assets held for     |     |       |         |       |

| sale                                         |     |       |         |       |

--------------------------------------------------------------------------------

| H=Parent company shareholders'       |       |     |       |         |       |

| equity                               |       |     |       |         |       |

--------------------------------------------------------------------------------

| I=Minority interest    |      |      |       |     |       |         |       |

--------------------------------------------------------------------------------

| J=Total equity   |     |      |      |       |     |       |         |       |

--------------------------------------------------------------------------------

|     |   A |    B |   C |    D |    E |     F |   G |     H |       I |     J |

--------------------------------------------------------------------------------

| Equ | 116 | 1266 |   - | 2900 | -132 | 19977 | 136 | 34101 |     107 | 34111 |

| ity |  85 |   44 |     |      |      |     9 |     |     2 |         |     9 |

| 1.1 |     |      |     |      |      |       |     |       |         |       |

| .   |     |      |     |      |      |       |     |       |         |       |

| 200 |     |      |     |      |      |       |     |       |         |       |

| 8   |     |      |     |      |      |       |     |       |         |       |

--------------------------------------------------------------------------------

| Cha |   - |    - |   - |    - |    - |     - |   - |     - |     651 |   651 |

| ng  |     |      |     |      |      |       |     |       |         |       |

| e   |     |      |     |      |      |       |     |       |         |       |

| in  |     |      |     |      |      |       |     |       |         |       |

| min |     |      |     |      |      |       |     |       |         |       |

| ori |     |      |     |      |      |       |     |       |         |       |

| ty  |     |      |     |      |      |       |     |       |         |       |

| (ne |     |      |     |      |      |       |     |       |         |       |

| t)  |     |      |     |      |      |       |     |       |         |       |

| 1-3 |     |      |     |      |      |       |     |       |         |       |

| /20 |     |      |     |      |      |       |     |       |         |       |

| 08  |     |      |     |      |      |       |     |       |         |       |

--------------------------------------------------------------------------------

| Tot |   - |    - |   - | -123 | -691 | 19481 |   - | 17560 |      -1 | 17559 |

| al  |     |      |     |    0 |      |       |     |       |         |       |

| com |     |      |     |      |      |       |     |       |         |       |

| pr  |     |      |     |      |      |       |     |       |         |       |

| eh  |     |      |     |      |      |       |     |       |         |       |

| en- |     |      |     |      |      |       |     |       |         |       |

| siv |     |      |     |      |      |       |     |       |         |       |

| e   |     |      |     |      |      |       |     |       |         |       |

| in- |     |      |     |      |      |       |     |       |         |       |

| com |     |      |     |      |      |       |     |       |         |       |

| e   |     |      |     |      |      |       |     |       |         |       |

| for |     |      |     |      |      |       |     |       |         |       |

| the |     |      |     |      |      |       |     |       |         |       |

| per |     |      |     |      |      |       |     |       |         |       |

| io  |     |      |     |      |      |       |     |       |         |       |

| d   |     |      |     |      |      |       |     |       |         |       |

--------------------------------------------------------------------------------

| Equ | 116 | 1266 |   - | 1670 | -823 | 21926 | 136 | 35857 |     757 | 35932 |

| ity |  85 |   44 |     |      |      |     0 |     |     2 |         |     9 |

| 31. |     |      |     |      |      |       |     |       |         |       |

| 3.2 |     |      |     |      |      |       |     |       |         |       |

| 008 |     |      |     |      |      |       |     |       |         |       |

--------------------------------------------------------------------------------

| Red | 133 | -126 | 113 |    - |    - |     - |   - |     - |       - |     - |

| uc  |  15 |  644 | 329 |      |      |       |     |       |         |       |

| tio |     |      |     |      |      |       |     |       |         |       |

| n   |     |      |     |      |      |       |     |       |         |       |

| of  |     |      |     |      |      |       |     |       |         |       |

| sha |     |      |     |      |      |       |     |       |         |       |

| re  |     |      |     |      |      |       |     |       |         |       |

| pre |     |      |     |      |      |       |     |       |         |       |

| mi- |     |      |     |      |      |       |     |       |         |       |

| um  |     |      |     |      |      |       |     |       |         |       |

| fun |     |      |     |      |      |       |     |       |         |       |

| d   |     |      |     |      |      |       |     |       |         |       |

| 4-1 |     |      |     |      |      |       |     |       |         |       |

| 2   |     |      |     |      |      |       |     |       |         |       |

| /20 |     |      |     |      |      |       |     |       |         |       |

| 08  |     |      |     |      |      |       |     |       |         |       |

--------------------------------------------------------------------------------

| Cha |   - |    - |   - |    - |    - |     - |   - |     - |    -757 |  -757 |

| ng  |     |      |     |      |      |       |     |       |         |       |

| e   |     |      |     |      |      |       |     |       |         |       |

| in  |     |      |     |      |      |       |     |       |         |       |

| min |     |      |     |      |      |       |     |       |         |       |

| or- |     |      |     |      |      |       |     |       |         |       |

| ity |     |      |     |      |      |       |     |       |         |       |

| (ne |     |      |     |      |      |       |     |       |         |       |

| t)  |     |      |     |      |      |       |     |       |         |       |

| 4-1 |     |      |     |      |      |       |     |       |         |       |

| 2   |     |      |     |      |      |       |     |       |         |       |

| /20 |     |      |     |      |      |       |     |       |         |       |

| 08  |     |      |     |      |      |       |     |       |         |       |

--------------------------------------------------------------------------------

| Div |   - |    - |   - |    - |    - | -5434 |   - | -5434 |       - | -5434 |

| id  |     |      |     |      |      |     9 |     |     9 |         |     9 |

| end |     |      |     |      |      |       |     |       |         |       |

| dis |     |      |     |      |      |       |     |       |         |       |

| tr- |     |      |     |      |      |       |     |       |         |       |

| ibu |     |      |     |      |      |       |     |       |         |       |

| ti- |     |      |     |      |      |       |     |       |         |       |

| on  |     |      |     |      |      |       |     |       |         |       |

| 4-1 |     |      |     |      |      |       |     |       |         |       |

| 2   |     |      |     |      |      |       |     |       |         |       |

| /20 |     |      |     |      |      |       |     |       |         |       |

| 08  |     |      |     |      |      |       |     |       |         |       |

--------------------------------------------------------------------------------

| Tot |   - |    - |   - | -351 | -218 | 14234 |   - | -2312 |       - | -2312 |

| al  |     |      |     |   78 |    4 |       |     |     8 |         |     8 |

| com |     |      |     |      |      |       |     |       |         |       |

| pr  |     |      |     |      |      |       |     |       |         |       |

| ehe |     |      |     |      |      |       |     |       |         |       |

| -ns |     |      |     |      |      |       |     |       |         |       |

| ive |     |      |     |      |      |       |     |       |         |       |

| inc |     |      |     |      |      |       |     |       |         |       |

| ome |     |      |     |      |      |       |     |       |         |       |

| for |     |      |     |      |      |       |     |       |         |       |

| the |     |      |     |      |      |       |     |       |         |       |

| per |     |      |     |      |      |       |     |       |         |       |

| iod |     |      |     |      |      |       |     |       |         |       |

--------------------------------------------------------------------------------

| Equ | 250 |    - | 113 | -335 | -300 | 17914 | 136 | 28109 |       - | 28109 |

| ity |  00 |      | 329 |   08 |    7 |     5 |     |     5 |         |     5 |

| 31. |     |      |     |      |      |       |     |       |         |       |

| 12. |     |      |     |      |      |       |     |       |         |       |

| 200 |     |      |     |      |      |       |     |       |         |       |

| 8   |     |      |     |      |      |       |     |       |         |       |

--------------------------------------------------------------------------------

| Tot |   - |    - |   - | 2279 | -102 |   534 |   - |  1791 |       - |  1791 |

| al  |     |      |     |      |    2 |       |     |       |         |       |

| com |     |      |     |      |      |       |     |       |         |       |

| pr  |     |      |     |      |      |       |     |       |         |       |

| eh  |     |      |     |      |      |       |     |       |         |       |

| en  |     |      |     |      |      |       |     |       |         |       |

| siv |     |      |     |      |      |       |     |       |         |       |

| e   |     |      |     |      |      |       |     |       |         |       |

| inc |     |      |     |      |      |       |     |       |         |       |

| om  |     |      |     |      |      |       |     |       |         |       |

| e   |     |      |     |      |      |       |     |       |         |       |

| for |     |      |     |      |      |       |     |       |         |       |

| the |     |      |     |      |      |       |     |       |         |       |

| per |     |      |     |      |      |       |     |       |         |       |

| iod |     |      |     |      |      |       |     |       |         |       |

--------------------------------------------------------------------------------

| Equ | 250 |    - | 113 | -312 | -402 | 17967 | 136 | 28288 |       - | 28288 |

| ity |  00 |      | 329 |   29 |    9 |     9 |     |     6 |         |     6 |

| 31. |     |      |     |      |      |       |     |       |         |       |

| 3.2 |     |      |     |      |      |       |     |       |         |       |

| 009 |     |      |     |      |      |       |     |       |         |       |

--------------------------------------------------------------------------------



KEY FINANCIAL FIGURES                                                           



--------------------------------------------------------------------------------

|                                            |   1-3/09 |   1-3/08 |   1-12/08 |

--------------------------------------------------------------------------------

| Interest-bearing debt, (EUR million)       |    282.5 |    294.4 |     305.1 |

--------------------------------------------------------------------------------

| Net debt, (EUR million)                    |    281.2 |    292.0 |     303.0 |

--------------------------------------------------------------------------------

| Invested capital (EUR million), end of     |    565.4 |    653.8 |     586.2 |

| period                                     |          |          |           |

--------------------------------------------------------------------------------

| Return on invested capital (ROI), % 1)     |    14.0% |    28.6% |     17.5% |

--------------------------------------------------------------------------------

| Gearing %                                  |    99.4% |    81.3% |    107.8% |

--------------------------------------------------------------------------------

| Equity ratio, %                            |    39.8% |    43.7% |     37.4% |

--------------------------------------------------------------------------------

| Personnel, average                         |    3 599 |    3 927 |     4 006 |

--------------------------------------------------------------------------------

| Personnel, end of period                   |    3 502 |    3 961 |     3 894 |

--------------------------------------------------------------------------------

| Gross investments in non-current assets    |      2.5 |     93.0 |     201.3 |

| (EUR million)                              |          |          |           |

--------------------------------------------------------------------------------

| Gross investments, % of net sales          |     2.0% |    61.1% |     34.3% |

--------------------------------------------------------------------------------

| The definitions of the key figures are     |          |          |           |

| available in the Annual Report 2008.       |          |          |           |

--------------------------------------------------------------------------------

| 1) The figures are calculated on a rolling |          |          |           |

| twelve month basis.                        |          |          |           |

--------------------------------------------------------------------------------



SHARE-RELATED KEY FIGURES                                                       



--------------------------------------------------------------------------------

|                                 |       1-3/09 |       1-3/08 |      1-12/08 |

--------------------------------------------------------------------------------

| Earnings per share (EPS)        |            - |         0.18 |         0.31 |

| weighted average, diluted, EUR  |              |              |              |

--------------------------------------------------------------------------------

| Earnings per share (EPS)        |            - |         0.18 |         0.31 |

| weighted average, non-diluted,  |              |              |              |

| EUR                             |              |              |              |

--------------------------------------------------------------------------------

| Equity per share, end of        |         2.60 |         3.30 |         2.59 |

| period, diluted, EUR            |              |              |              |

--------------------------------------------------------------------------------

| Equity per share, end of        |         2.60 |         3.30 |         2.59 |

| period, non-diluted, EUR        |              |              |              |

--------------------------------------------------------------------------------

| Number of shares (weighted      |  108 697 328 |  108 698 436 |  108 697 750 |

| average), diluted               |              |              |              |

--------------------------------------------------------------------------------

| Number of shares (weighted      |  108 697 328 |  108 698 436 |  108 697 750 |

| average), non-diluted           |              |              |              |

--------------------------------------------------------------------------------

| Number of shares (end of        |  108 697 328 |  108 698 436 |  108 697 328 |

| period), diluted                |              |              |              |

--------------------------------------------------------------------------------

| Number of shares (end of        |  108 697 328 |  108 698 436 |  108 697 328 |

| period), non-diluted            |              |              |              |

--------------------------------------------------------------------------------



NOTES TO THE INTERIM FINANCIAL STATEMENTS                                       



SEGMENT INFORMATION                                                             



Segment information is presented according to the IFRS standards. Items below   

EBIT - financial items and taxes - are not allocated to the segments.           



--------------------------------------------------------------------------------

| Net sales                            |          |              |             |

--------------------------------------------------------------------------------

| (EUR million)                        |  1-3/09  |    1-3/08    |     1-12/08 |

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

| Finland                              |          |              |             |

--------------------------------------------------------------------------------

| - Net sales (external)               |     28.7 |         33.0 |       153.9 |

--------------------------------------------------------------------------------

| - Inter-segment sales                |        - |          0.4 |         0.5 |

--------------------------------------------------------------------------------

| Sweden                               |          |              |             |

--------------------------------------------------------------------------------

| - Net sales (external)               |     32.0 |         41.7 |       171.3 |

--------------------------------------------------------------------------------

| - Inter-segment sales                |        - |            - |         0.1 |

--------------------------------------------------------------------------------

| Norway                               |          |              |             |

--------------------------------------------------------------------------------

| - Net sales (external)               |     28.9 |         37.1 |       145.9 |

--------------------------------------------------------------------------------

| - Inter-segment sales                |        - |            - |         0.1 |

--------------------------------------------------------------------------------

| Denmark                              |          |              |             |

--------------------------------------------------------------------------------

| - Net sales (external)               |     10.3 |         13.7 |        57.8 |

--------------------------------------------------------------------------------

| - Inter-segment sales                |      1.0 |          0.0 |         1.3 |

--------------------------------------------------------------------------------

| Europe Group East                    |          |              |             |

--------------------------------------------------------------------------------

| - Net sales (external)               |      8.3 |         20.0 |        85.9 |

--------------------------------------------------------------------------------

| - Inter-segment sales                |      1.0 |          0.0 |         4.0 |

--------------------------------------------------------------------------------

| Europe Group Central                 |          |              |             |

--------------------------------------------------------------------------------

| - Net sales (external)               |     13.9 |         16.5 |        87.9 |

--------------------------------------------------------------------------------

| - Inter-segment sales                |      0.2 |          0.1 |         0.8 |

--------------------------------------------------------------------------------

| Elimination of sales between         |     -2.1 |         -0.5 |        -6.7 |

| segments                             |          |              |             |

--------------------------------------------------------------------------------

| Net sales, total                     |    122.2 |        162.1 |       702.6 |

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

| Other operating income               |      0.6 |          1.7 |         3.8 |

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

| Operating profit                     |          |              |             |

--------------------------------------------------------------------------------

| (EUR million)                        |  1-3/09  |    1-3/08    |     1-12/08 |

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

| Finland                              |      0.9 |          6.5 |        30.5 |

--------------------------------------------------------------------------------

| % of net sales                       |     3.1% |        19.6% |       19.8% |

--------------------------------------------------------------------------------

| Sweden                               |      5.3 |          9.0 |        29.9 |

--------------------------------------------------------------------------------

| % of net sales                       |    16.6% |        21.7% |       17.4% |

--------------------------------------------------------------------------------

| Norway                               |      2.5 |          6.9 |        15.1 |

--------------------------------------------------------------------------------

| % of net sales                       |     8.7% |        18.6% |       10.4% |

--------------------------------------------------------------------------------

| Denmark                              |     -0.1 |          0.8 |         0.7 |

--------------------------------------------------------------------------------

| % of net sales                       |    -0.6% |         5.9% |        1.1% |

--------------------------------------------------------------------------------

| Europe Group East                    |     -3.3 |          4.1 |        -1.4 |

--------------------------------------------------------------------------------

| % of net sales                       |   -35.8% |        20.6% |       -1.5% |

--------------------------------------------------------------------------------

| Europe Group Central                 |      0.7 |          1.5 |         8.4 |

--------------------------------------------------------------------------------

| % of net sales                       |     5.1% |         9.2% |        9.5% |

--------------------------------------------------------------------------------

| Net items not allocated to operating |      1.2 |          0.6 |        -3.5 |

| segments                             |          |              |             |

--------------------------------------------------------------------------------

| Group operating profit               |      7.2 |         29.5 |        79.7 |

--------------------------------------------------------------------------------

| % of net sales                       |     5.9% |        18.2% |       11.3% |

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

| Depreciation, amortisation and       |          |              |             |

| impairment charges                   |          |              |             |

--------------------------------------------------------------------------------

| (EUR million)                        |  1-3/09  |    1-3/08    |     1-12/08 |

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

| Finland                              |      3.8 |          3.6 |        16.7 |

--------------------------------------------------------------------------------

| Sweden                               |      5.0 |          5.5 |        24.8 |

--------------------------------------------------------------------------------

| Norway                               |      4.2 |          4.5 |        18.4 |

--------------------------------------------------------------------------------

| Denmark                              |      2.3 |          2.0 |         8.5 |

--------------------------------------------------------------------------------

| Europe Group East                    |      4.5 |          4.3 |        25.6 |

--------------------------------------------------------------------------------

| Europe Group Central                 |      3.3 |          2.6 |        15.2 |

--------------------------------------------------------------------------------

| Unallocated items and eliminations   |     -0.1 |            - |        -0.1 |

--------------------------------------------------------------------------------

| Total                                |     23.1 |         22.6 |       109.1 |

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

| Capital expenditure                  |          |              |             |

--------------------------------------------------------------------------------

| (EUR million)                        |  1-3/09  |    1-3/08    |     1-12/08 |

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

| Finland                              |      0.6 |         11.1 |        25.7 |

--------------------------------------------------------------------------------

| Sweden                               |      0.2 |         25.5 |        34.6 |

--------------------------------------------------------------------------------

| Norway                               |      0.3 |         10.4 |        24.6 |

--------------------------------------------------------------------------------

| Denmark                              |      0.1 |          7.0 |        13.1 |

--------------------------------------------------------------------------------

| Europe Group East                    |      0.1 |         18.0 |        39.8 |

--------------------------------------------------------------------------------

| Europe Group Central                 |      1.0 |         21.1 |        62.9 |

--------------------------------------------------------------------------------

| Unallocated items and eliminations   |      0.1 |            - |         0.5 |

--------------------------------------------------------------------------------

| Total                                |      2.5 |         93.0 |       201.3 |

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

| Assets allocated to segments         |          |              |             |

--------------------------------------------------------------------------------

| (EUR million)                        |  1-3/09  |    1-3/08    |     1-12/08 |

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

| Finland                              |    152.0 |        142.6 |       144.6 |

--------------------------------------------------------------------------------

| Sweden                               |    163.2 |        205.1 |       163.7 |

--------------------------------------------------------------------------------

| Norway                               |    145.9 |        164.5 |       137.1 |

--------------------------------------------------------------------------------

| Denmark                              |     62.5 |         73.2 |        67.3 |

--------------------------------------------------------------------------------

| Europe Group East                    |    131.6 |        150.0 |       139.6 |

--------------------------------------------------------------------------------

| Europe Group Central                 |    113.2 |        123.6 |       133.4 |

--------------------------------------------------------------------------------

| Unallocated items and eliminations   |    -57.7 |        -36.1 |       -33.1 |

--------------------------------------------------------------------------------

| Total                                |    710.9 |        822.8 |       752.7 |

--------------------------------------------------------------------------------





Changes in non-current assets                                                   



--------------------------------------------------------------------------------

| EUR 1000                   |             |                 |                 |

--------------------------------------------------------------------------------

|                            | 31.3.2009   |       31.3.2008 |      31.12.2008 |

--------------------------------------------------------------------------------

| OPENING BALANCE            |     623 242 |         585 538 |         585 539 |

--------------------------------------------------------------------------------

| Depreciation               |     -23 130 |         -22 606 |        -109 107 |

--------------------------------------------------------------------------------

| Additions:                 |             |                 |                 |

--------------------------------------------------------------------------------

| Machinery&Equipment        |       2 026 |          72 851 |         164 803 |

--------------------------------------------------------------------------------

| Other Additions            |         426 |             563 |           3 417 |

--------------------------------------------------------------------------------

| Acquired group companies   |           - |          19 613 |          33 039 |

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

| Disposals (sales)          |      -2 310 |          -4 683 |         -13 479 |

--------------------------------------------------------------------------------

| Other *                    |      -4 048 |          12 874 |         -40 969 |

--------------------------------------------------------------------------------

| CLOSING BALANCE            |     596 206 |         664 150 |         623 242 |

--------------------------------------------------------------------------------

--------------------------------------------------------------------------------

| Non-current assets held    |         558 |           1 015 |             558 |

| for sale                   |             |                 |                 |

--------------------------------------------------------------------------------



--------------------------------------------------------------------------------

| * Other includes translation differences, reclassifications, changes in      |

| estimated consideration for acquisitions                                     |

--------------------------------------------------------------------------------





COMMITMENTS AND CONTINGENT LIABILITIES                                          



--------------------------------------------------------------------------------

| (EUR million)                   |   31.3.2009 |    31.3.2008 |    31.12.2008 |

--------------------------------------------------------------------------------

| Real estate mortgages           |         0.2 |          0.2 |           0.2 |

--------------------------------------------------------------------------------

| Interest-bearing debt for which |         0.1 |          0.1 |           0.1 |

| the above collateral is given   |             |              |               |

--------------------------------------------------------------------------------

| Floating charges                |           - |            - |           1.7 |

--------------------------------------------------------------------------------

| Other pledged assets            |         4.2 |          2.1 |           4.4 |

--------------------------------------------------------------------------------

| Interest-bearing debt for which |         4.2 |            - |           4.4 |

| the above collateral is given   |             |              |               |

--------------------------------------------------------------------------------

| Suretyships                     |         3.2 |          3.5 |           3.0 |

--------------------------------------------------------------------------------

| Committed investments in        |         0.9 |         70.0 |           0.2 |

| non-current assets              |             |              |               |

--------------------------------------------------------------------------------

| Non-cancellable minimum future  |       143.0 |        143.9 |         169.2 |

| operating lease payments        |             |              |               |

--------------------------------------------------------------------------------

| Non-cancellable minimum future  |         0.8 |          2.1 |           0.9 |

| finance lease payments          |             |              |               |

--------------------------------------------------------------------------------

| Finance lease debt in the       |        -0.7 |         -2.0 |          -0.9 |

| balance sheet                   |             |              |               |

--------------------------------------------------------------------------------

| Non-cancellable minimum future  |       143.0 |        144.0 |         169.2 |

| lease payments off-balance      |             |              |               |

| sheet                           |             |              |               |

--------------------------------------------------------------------------------

| Obligations arising from        |             |              |               |

| derivative instruments:         |             |              |               |

--------------------------------------------------------------------------------

| Nominal value of underlying     |       119.0 |        121.4 |         118.2 |

| object                          |             |              |               |

--------------------------------------------------------------------------------

| Fair value of the derivative    |        -5.5 |         -1.1 |          -4.1 |

| instruments                     |             |              |               |

--------------------------------------------------------------------------------



Ramirent has borrowing facilities which have equity ratio, leverage ratio and   

other financial covenants. Ramirent's financial ratios are better than these    

covenants.                                                                      



During the review period Ramirent has made no transactions with its related     

parties as defined in the Companies' Act. There are no outstanding balances     

between the Company and its related parties at the end of the review period.    



There are no pending legal cases, the impact of which could have a material     

effect on the figures reported in this interim report.                          





ANALYST AND PRESS BRIEFING, WEBCAST AND CONFERENCE CALL                         



A briefing for investment analysts and the press will be arranged on Wednesday, 

13 May 2009 at 11.00 a.m. (EEST) at Helsinki World Trade Center, Marski hall    

(visiting address: Aleksanterinkatu 17). You can also participate    in the     

briefing through a live webcast at www.ramirent.com and conference call. Dial-in

number for conference call: +44(0)20 7162 0025. An on-demand recording of the   

webcast will be available at www.ramirent.com later the same day and the replay 

of the conference call is available for 48 hours at +44 (0)20 7031 4064 (access 

code 833277#).                                                                  





FINANCIAL CALENDAR 2009                                                         



Ramirent will report its quarterly results in 2009 on the following dates:      



- Capital Market Day	11 June 2009                                              

- January - June		12 August 2009 at 9:00 a.m. 

- January - September	11 November 2009 at 9:00 a.m.                         



Ramirent observes a silent period during the three-week period prior to         

publication of annual and interim financial results.                            



The financial information in this stock exchange release has not been audited.  





Vantaa, 13 May 2009                                                             





RAMIRENT PLC                                                                    



Board of Directors                                                              





FURTHER INFORMATION:                                                            

CEO Magnus Rosén, phone +358 20 750 2845, or email magnus.rosen@ramirent.com    

CFO Heli Iisakka, phone +358 20 750 3248, or email heli.iisakka@ramirent.com	   



DISTRIBUTION:                                                                   

NASDAQ OMX Helsinki                                                             

Main news media                                                                 

www.ramirent.com                                                                





Ramirent is the leading machinery rental company in the Nordic countries and in 

Central and Eastern Europe. The Group has 3,500 employees at some 350 permanent 

outlets in thirteen countries. In 2008, Group net sales totalled EUR 703        

million. Ramirent is listed on the NASDAQ OMX Helsinki.

interim report_q1_2009_web.pdf