RAMIRENT PLC         STOCK EXCHANGE RELEASE   12.2.2009 AT 9:00 AM              



RAMIRENT GROUP'S FINANCIAL STATEMENTS FOR 2008                                  



DECLINING PROFITS IN CHALLENGING MARKET DEVELOPMENT                             



THE FULL FINANCIAL YEAR 2008 HIGHLIGHTS                                         



- Net sales grew by 11% and totalled EUR 702.6 (634.3) million.                 

- Operating profit (EBIT) excluding restructuring costs and goodwill impairment 

was EUR 110.6 (157.5) million with a margin of 15.7% (24.8%).                   

- Operating profit (EBIT) after restructuring costs of EUR 25.8 million and     

goodwill impairment of EUR 5.1 million was EUR 79.7 million.                    

- Profit before taxes (EBT) was EUR 50.7 (145.8) million.                       

- Capital expenditure was EUR 201.3 (217.5) million, of which machinery and     

equipment EUR 164.8 (211.9) million                                             

- Net debt was EUR 303.0 (235.9) million. Gearing was 107.8% (69.2%).           

- Return on invested capital (ROI) was 17.5% (31.7%)                            

- Earnings per share of EUR 0.31 (1.02).                                        

- The Board of Directors proposes a dividend of EUR 0.15 (0.50) per share.      

- Due to high uncertainty and low visibility, no profit guidance will be given. 



FOURTH QUARTER 2008 HIGHLIGHTS                                                  



- Net sales decreased by -4% to EUR 172.5 (179.8) million.                      

- Operating profit (EBIT) excluding restructuring costs and goodwill impairment 

was EUR 11.2(46.3) million with a margin of 6.5% (25.6%). Operating profit      

(EBIT) after restructuring and goodwill impairment was EUR -19.7 million.       

-                                                                               

Currency losses and translation differences affected Q408 figures negatively    

- Actions taken targeting EUR 50 million in annual fixed cost savings.          



Magnus Rosén, President and CEO since 15 January 2009:                          



“In 2008 the economic slowdown spread into most of our operating markets.       

Ramirent's growth for the full year 2008 exceeded 10%, but Q408 broke the       

quarterly growth trend that has continued for several years. Profitability      

declined overall due to the weakened markets, especially in Europe East, Denmark

and also in Norway.                                                             



Actions have been taken to generate EUR 50 million in annual fixed cost savings 

for the Group. Unfortunately, this also means that personnel adjustments are    

necessary. We estimate to reduce a total of 600 employees from the Group's      

workforce. Investments in new capacity have been halted and focus lies on       

optimising fleet re-allocations between our countries to support utilisation and

price levels. On 15 January 2009, the Group Management structure was also       

amended to shorten the decision-making paths and drive higher synergies between 

our operating countries.                                                        



While we will continue to execute our long-term growth strategy, we are now     

entering a stabilisation phase where priority is given to cash flow and         

profitability to preserve a strong balance sheet. This is clearly our top       

priority in the current economic environment.                                   



A challenging year lies ahead, but we are prepared to take action and move      

quickly, when this is called for. Our financing is secured and contingency plans

are in place in all countries in the event of a further market decline and      

changes in demand. As visibility for 2009 is very low, risk minimising and cost 

control remains high on the agenda.                                             









KEY FIGURES                                                                     



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

| (EUR million)          | 10-12/2008 |  10-12/2007 |   1-12/2008 |  1-12/2007 |

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

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

| Net sales              |      172,5 |       179,8 |       702,6 |      634,3 |

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

| Operating profit       |       16,5 |        67,8 |       188,8 |      237,0 |

| before depreciation    |            |             |             |            |

| (EBITDA)               |            |             |             |            |

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

| Operating profit excl. |       11.2 |        46.3 |       110.6 |      157.5 |

| restrucuring costs and |            |             |             |            |

| goodwill impairment    |            |             |             |            |

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

| % of net sales         |       6.5% |       25.8% |       15.7% |      24.8% |

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

| Operating profit       |      -19,7 |        46,3 |        79,7 |      157,5 |

| (EBIT)                 |            |             |             |            |

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

| % of net sales         |     -11,4% |       25,8% |      11,3 % |      24,8% |

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

| Profit before taxes    |      -32,8 |        43,5 |        50,6 |      145,8 |

| (EBT)                  |            |             |             |            |

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

| Net profit for the     |      -27,9 |        32,5 |        33,7 |      110,2 |

| period                 |            |             |             |            |

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

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

| Earnings per share     |      -0,26 |        0,30 |        0,31 |       1,02 |

| (EPS), (diluted), EUR  |            |             |             |            |

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

| Equity per share       |            |             |        2,59 |       3,14 |

| (diluted), EUR         |            |             |             |            |

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

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

| Return on invested     |            |             |      17,5 % |      31,7% |

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

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

| Net debt               |            |             |       303,0 |      235,9 |

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

| Gearing, %             |            |             |     107,8 % |      69,2% |

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

| Equity ratio, %        |            |             |      37.4 % |      46,3% |

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

| Gross investments in non-current assets (EUR      |       201.3 |      217.5 |

| million)                                          |             |            |

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

| Gross investments, % of net sales                 |      28,7 % |      34,3% |

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

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

| Personnel, average     |            |             |     4 006,0 |      3 407 |

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

| Personnel at end of    |            |             |     3 894,0 |      3 642 |

| period                 |            |             |             |            |

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

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

| 1) The figures are     |            |             |             |            |

| calculated on a        |            |             |             |            |

| rolling twelve month   |            |             |             |            |

| basis.                 |            |             |             |            |

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







OPERATING ENVIRONMENT                                                           



Ramirent is a company focused on construction machinery and equipment rentals,  

operating in the Nordic, Central and Eastern European markets. The Group is     

headquartered in Vantaa and had 362 (310) permanent outlets in thirteen         

countries on 31 December 2008.                                                  



In the Nordic region, construction activity remained high in Finland and Sweden,

while it weakened in Norway and Denmark during 2008. In the fourth quarter, the 

market situation weakened also in Finland and Sweden. In our Central and Eastern

European countries, the construction market continued to grow, except for       

Estonia, Latvia and Hungary where construction activity has slowed down         

significantly.  In the second half of 2008, growth rates also slowed down       

rapidly in Lithuania, Russia and Ukraine. In all Ramirent countries, uncertainty

has increased due to the global financial crisis and the economic slowdown.     



GROUP NET SALES AND PROFIT                                                      



Investments in new fleet capacity and acquisitions contributed to net sales     

growth of 11% to EUR 702.6 (634.3) million. Growth was mainly organic. Europe   

Central posted the highest growth numbers (+60%) whereas Norway, Denmark and    

Europe East net sales were on previous year's level. Fourth quarter net sales   

decreased by -4%, to 172.5 (179.8) million, due to declining construction       

activity and weakening major currencies. At comparable currency rates fourth    

quarter net sales grew by 1%.                                                   



Net sales by segment were as follows:                                           



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

| (EUR million)           |  10-12/08 |  10-12/07   |    1-12/08 |     1-12/07 |

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

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

| Net sales               |           |             |            |             |

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

| Finland                 |      38,8 |        36,1 |      154,4 |       133,6 |

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

| Sweden                  |      42,1 |        43,0 |      171,3 |       152,6 |

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

| Norway                  |      33,5 |        41,7 |      145,9 |       145,9 |

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

| Denmark                 |      16,3 |        15,5 |       59.0 |        57,0 |

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

| Europe East             |      20,9 |        26,2 |       89,9 |        91,0 |

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

| Europe Central          |      23,7 |        17,6 |       88,7 |        55,4 |

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

| Sales between segments  |      -2,9 |        -0,2 |       -6,6 |        -1,3 |

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

| Net sales, total        |     172,5 |       179,8 |      702,6 |       634,3 |

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





Operating profit before depreciation (EBITDA) was EUR 188.8 (237.0) million;    

The operating costs include restructuring and other non-recurring costs of EUR  

25.8 million, of which EUR 6.3 million relate to employee reductions and the    

rest primarily to termination of lease agreements on equipment and premises. The

negative market development in Norway and Denmark, as well as in the Baltic     

countries and Hungary affected the Group level profitability. Lower fleet       

utilization, tougher price competition and higher fixed costs as well as costs  

for expanding the outlet network and entering new markets in Europe Central also

burdened profitability. In addition, the increase in provisions for bad debts   

amounted to EUR 14,2 (5,3) million and actual credit losses amounted to EUR 3,9 

(2,2) million. The Group's operating profit (EBIT) excluding restructuring costs

and goodwill impairment was 110.6 (157.5) with a margin of 15.7% (24.8%).       

Goodwill impairment was EUR 5.1 million. Operating profit (EBIT) after          

restructuring costs and goodwill impairment was EUR 79.7 million.               



The operating margin by segments, excluding restructuring costs and goodwill    

impairment, was as follows:                                                     



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

|       | 10- | EBIT | 10- | EBIT | 1-12 | EBIT  | *1-1 | *EBIT | 1-12 | EBIT  |

|       | 12/ | %    | 12/ | %    |  /08 | %     | 2/08 | %     |  /07 | %     |

|       |  08 |      | 07  |      |      |       |      |       |      |       |

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

| Opera |     |      |     |      |      |       |      |       |      |       |

| ting  |     |      |     |      |      |       |      |       |      |       |

| profi |     |      |     |      |      |       |      |       |      |       |

| t     |     |      |     |      |      |       |      |       |      |       |

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

| Finla | 5,4 | 13,8 | 8,6 | 23,9 | 33,0 |  21,4 | 30,5 |  19,8 | 34,8 | 26,1% |

| nd    |     |    % |     | %    |      |     % |      |     % |      |       |

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

| Swede | 9,3 | 22,2 | 11, | 26,0 | 37,5 |  21,9 | 29,9 |  17,4 | 35,1 | 23,0% |

| n     |     |    % |   2 | %    |      |     % |      |     % |      |       |

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

| Norwa | 3,2 |  9,7 | 10, | 25,2 | 24,2 |  16,6 | 15,1 |  10,4 | 35,9 | 24,6% |

| y     |     |    % |   5 | %    |      |     % |      |     % |      |       |

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

| Denma | -0, | -4,6 | 3,8 | 24,2 |  2,4 | 4,1 % |  0,7 | 1,1 % | 10,2 | 17,9% |

| rk    |   8 |    % |     | %    |      |       |      |       |      |       |

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

| Europ | -4, | -19, | 9,0 | 34,3 |  7,5 | 8,3 % | -1,4 |  -1,5 | 29,4 | 32,3  |

| e     |   0 |  1 % |     | %    |      |       |      |     % |      |   %   |

| East  |     |      |     |      |      |       |      |       |      |       |

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

| Europ | 0,3 |  1,2 | 3,6 | 20,4 |  8,5 | 9,6 % |  8,4 | 9,5 % | 12,9 | 23,2% |

| e     |     |    % |     | %    |      |       |      |       |      |       |

| Centr |     |      |     |      |      |       |      |       |      |       |

| al    |     |      |     |      |      |       |      |       |      |       |

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

| non-a | -2, |      | -0, |      | -2,5 |       | -3,5 |       | -0,8 |       |

| lloca |   3 |      |   4 |      |      |       |      |       |      |       |

| ted   |     |      |     |      |      |       |      |       |      |       |

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

| EBIT, | 11, |  6,5 | 46, | 25,8 | 110, |  15,7 | 79,7 |  11,3 | 157, | 24,8% |

| total |   2 |    % |   3 |    % |    6 |     % |      |     % |    5 |       |

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

*including resctructuring costs and goodwill impairment.                        





The net financial items increased to EUR -29.1 (-11.8) million due to currency  

exchange losses of EUR -6.3 (+1.1) million and due to financial costs of EUR    

-4.9 million related to the long-term incentive programs. Net interest expenses 

of bank loans and leasing increased to EUR 16.1 (10.6) million.                 



The Group's profit before taxes for the financial year was EUR 50.7 (145.8)     

million. The tax rate increased due to a higher share of non-tax deductible     

items such as goodwill impairment. The effective tax rate for 2008 was 33.4%    

(24.4%). The net profit for the year was EUR 33.7 (110.2) million. Earnings per 

share were EUR 0.31 (1.02). The return on invested capital was 17.5% (31.7%) and

the return on equity was 10.8% (36.4%).                                         



CAPITAL EXPENDITURE AND DEPRECIATION                                            



The Group's gross capital expenditure on non-current assets totalled EUR 201.3  

(217.5) million, of which EUR 164.8 (211.9) million was attributable to         

investments in machinery and equipment. Acquisitions accounted for EUR 33.0     

(3.7) million. The gross capital expenditure during the last quarter was EUR    

13.2 million.                                                                   



The total depreciation and write-off of non-current assets (excluding impairment

charges) during the year 2008 amounted to EUR 104.0 (79.5) million, of which EUR

100.1 (76.9) million were attributable to machinery and equipment. Disposals of 

tangible non-current assets at book value were EUR 15.2 (18.1) million, of which

EUR 12.9 (12.5) million were attributable to machinery and equipment and the    

rest was mostly attributable to sold properties. Translation difference of      

non-current assets was EUR -40.7 million due to weakening of several Group      

currencies towards Euro.                                                        



Goodwill totalled EUR 87.4 (77.6) million at the end of the financial year. An  

impairment of EUR 5.1 (0.0) million was recognised in Europe East. The amount of

goodwill in the Group decreased also due to weakening of several currencies     

towards Euro by EUR 3.9 million.                                                



FINANCIAL POSITION AND BALANCE SHEET                                            



The Group's twelve-month cash flow from operating activities was positive,      

amounting to EUR 168.5 (173.8) million. Cash flow from investing activities     

amounted to EUR -161.5 (-192.7) million. Cash flow from financing activities    

totalled EUR -6.1 (19.0) million including dividend payments of EUR 54.3 (32.5) 

million. At the end of the year 2008, liquid assets stood at EUR 2.1 (1.2)      

million, resulting in a net change in cash of EUR 0.9 (0.1) million compared to 

the previous year-end.                                                          



Ramirent's interest-bearing liabilities increased by EUR 68.0 million from the  

previous year-end and totalled EUR 305.1 (237.1) million. Net debt amounted to  

EUR 303.0 (235.9) million at the end of the financial year. Gearing increased to

107.8 % (69.2%). The nominal value of the interest rate swaps at the end of the 

year was EUR 118.2 (122.0) million.                                             



At the end of the financial year, Ramirent had unused committed back-up         

facilities available of EUR 174 million. Ramirent has no material loan          

repayments due in 2009.                                                         

                                                                                

Total assets amounted to EUR 752.7 (737.1) million. The value of Group          

consolidated assets compared to September 31 2008 was affected by weakening of  

several currencies. Group equity totalled EUR 281.1 (341.0) million. Changes in 

currency rates resulted in a translation difference in equity of EUR -36.4      

million. The Group's equity ratio was 37.4% (46.3%).                            





COST SAVING PROGRAM                                                             



On 18 December, 2008 Ramirent Plc announced a Group-wide cost saving program    

which is to generate annual fixed cost savings of around EUR 50 million. A      

restructuring cost of around EUR 25.8 million was recognised in the fourth      

quarter of 2008. Group companies have initiated negotiations on possible        

lay-offs and redundancies. The company estimates it needs to reduce its total   

workforce by some 600 persons. Contingency plans have been developed to address 

the risk of further market decline and to be able to act rapidly to changes in  

the market.                                                                     



To date the cost saving actions essentially target the operations in the Nordic 

countries and Europe East, as market conditions are still favourable in Europe  

Central. The actions taken in the Nordic countries mainly relate to personnel   

reductions, cancellation of equipment lease agreements and reorganising products

areas with weak market expectations. In Europe East, actions relate primarily to

personnel reductions and depot network optimisation.                            



BUSINESS EXPANSIONS AND DIVESTMENT DURING THE FINANCIAL YEAR                    



The rental equipment company Hyresmaskiner i Stockholm AB, which was acquired 19

December 2007, was consolidated into the operating segment Sweden's figures from

the beginning of 2008.                                                          



On 3 January 2008, Ramirent Finland Oy acquired the rental equipment business of

Suomen Rakennuskonevuokraamo Oy with annual revenues of around EUR 2 million.   

The acquisition added two new outlets in Helsinki and Espoo.                    



On 8 January 2008, Ramirent acquired a majority stake in the Slovak-based       

company, OTS Bratislava, spol.sr.o., a leading provider of rental equipment     

services for Slovak construction companies. The entry into Slovakia is an       

important strategic step for Ramirent, offering unique opportunities for        

profitable growth in this new market. The company has a network of 37 own and   

franchised outlets and employs some 130 people.                                 



BUSINESS SEGMENTS                                                               



From the beginning of the financial year 2008, Ramirent reports according to six

operating segments. The Ramirent Europe segment was split into Europe East      

(Estonia, Latvia, Lithuania, Russia and Ukraine) and Europe Central (Poland,    

Hungary, Czech Republic and Slovakia).                                          



Finland                                                                         



In Finland, net sales grew by 16% and totalled EUR 154.4 (133.6) million. Market

demand and business operations remained on a good level until the fourth        

quarter. Despite of the slowdown in residential construction, the demand for    

rental equipment increased based on growth in other construction sectors and    

industrial projects. The operating profit excluding restructuring costs was EUR 

33.0 (34.8) million with a margin of 21.4% (26.1%). The operating profit (EBIT) 

after restructuring costs was EUR 30.5 (34.8) million. The increased usage of   

outsourcing services and operational leasing, which adds flexibility to fleet   

management lowered the profitability. Gross capital expenditure increased to EUR

28.9 (26.5) million, including an acquisition in the Helsinki area and equipment

transfers from other Ramirent countries.                                        



Sweden                                                                          



In Sweden, net sales grew by 12% to EUR 171.3 (152.6) million based on growth in

the construction market and the acquisition of Hyresmaskiner i Stockholm AB at  

year-end 2007. Growth at comparable currency rates was 17%. In the fourth       

quarter, however, a clear slow down was seen in market demand. The operating    

profit (EBIT) excluding restructuring costs was EUR 37.5 (35.1) million with a  

margin of 21.9% (23.0%). The operating margin (EBIT-%) remained on previous     

year's level except in the last quarter when cost-saving actions were started.  

The operating profit (EBIT) after restructuring costs was EUR 29.9 (35.1)       

million. The gross capital expenditure including acquisitions amounted to EUR   

34.7 (36.8) million.                                                            



Norway                                                                          



In Norway, Ramirent's Norwegian subsidiary Bautas AS's net sales remained at    

previous year's level at EUR 145.9 (145.9) million due to a rapidly weakening   

construction market throughout 2008. At comparable currency rates net sales grew

by 2%. The operating profit (EBIT) excluding restructuring costs was EUR 24.2   

(35.9) million with a margin of 16.6% (24.6%). The profitability was burdened by

cost increases and lower utilisation in certain product and geographical areas. 

The operating profit (EBIT) after restructuring costs was EUR 15.1 (35.9)       

million. The gross capital expenditure decreased to EUR 25.1 (38.5) million.    



Denmark                                                                         



In Denmark, net sales remained on previous year's level at EUR 59.0 (57.0)      

million despite the continued weak market conditions. The growth of EUR 2       

million in net sales was attributable to sale of rental assets. The operating   

profit (EBIT) excluding restructuring costs was EUR 2.4 (10.2) million with a   

margin of 4.1% (17.9%). The operating profit (EBIT) after restructuring costs   

was EUR 0.7 (10.2) million. Aggressive competition lowered price levels during  

2008 at the same time as the overall cost level also increased. Gross capital   

expenditure decreased to EUR 13.1 (22.8) million.                               



Europe East                                                                     



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

totalled EUR 89.9 (91.0) million. Sales decreased significantly in Estonia,     

Latvia and Lithuania, but grew in Russia and Ukraine. The profitability was     

burdened by lower price levels and decreased fleet utilisation as well as an    

increase in provisions for bad debt in all Europe East countries. Due to        

increased uncertainty an impairment of goodwill of EUR 5.1 million was          

recognised. The operating profit (EBIT) excluding restructuring costs and       

goodwill impairment was EUR 7.5 (29.4) million with a margin of 8.3% (32.3%).   

The operating profit (EBIT) after restructuring and goodwill impairment         

decreased to EUR -1.4 (29.4) million. Gross capital expenditure was EUR 40.6    

(56.1) million.                                                                 



Europe Central                                                                  



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

continued to grow and net sales increased by 60% to EUR 88.7 (55.4) million.    

Investments in new fleet capacity, the entry into Slovakia and the expansion of 

the outlet network in Poland and the Czech Republic have improved Ramirent's    

overall market position in this area. The expansion in Poland, the Czech        

Republic and into Slovakia as well as in Hungary the continued weak market      

conditions decreased the operating profit (EBIT) to EUR 8.5 (12.9) million      

excluding restructuring costs. The corresponding margin was 9.6% (23.2%). The   

operating profit (EBIT) after restructuring costs was EUR 8.4 (12.9) million.   

Gross capital expenditure, including the acquisition in Slovakia, was EUR 64.3  

(36.7) million.                                                                 



PERSONNEL AND ORGANISATION                                                      



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

|                      | Employees (average)  |      | Outlets on 30 December  |

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

|                      |  1-12/08 |  1-12/07  |      |      2008 |        2007 |

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

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

| Finland              |      719 |       674 |      |        95 |          95 |

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

| Sweden               |      658 |       597 |      |        56 |          51 |

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

| Norway               |      675 |       631 |      |        40 |          37 |

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

| Denmark              |      252 |       237 |      |        20 |          17 |

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

| Europe East          |      668 |       591 |      |        50 |          49 |

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

| Europe Central       |     1015 |       664 |      |       101 |          61 |

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

| Group administration |       19 |        13 |      |           |             |

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

| Total                |     4006 |      3407 |      |       362 |         310 |

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BUSINESS RISKS                                                                  



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 the Company's 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. Though Ramirent has diversified operations geographically  

and is prepared to move capacity according to market development, a downturn in 

business cycles in main markets impacts the utilisation of equipment and price  

levels negatively. Global slowdown may create overall overcapacity and increased

price competition in the markets. In 2008 the financial crisis and high         

uncertainty has led to an increased cautiousness among customers regarding      

decisions on investments and new projects. The present conditions in the        

financial market limit the accessibility to financing which may negatively      

affect Ramirent's customers and suppliers and thereby also the Ramirent Group.  



As the business environment has in general become less benign, Ramirent has     

implemented stricter risk management routines. The capital expenditure plans    

have been halted due to weaker market conditions ahead and focus is set on      

transfer of excess fleet capacity to optimise utilisation and defend price      

levels.                                                                         



Some of Ramirent's operating markets are still very fragmented and this         

challenging market situation, serves as an opportunity to further strengthen    

Ramirent's market position through selective acquisitions in the future. Such   

acquisitions are subject to risk related to identifying suitable target         

companies, to successful timing and integration of the acquired business into   

Ramirent's operations. The growth strategy may also include expansion of        

activities to new geographical markets. Such expansion is subject to cultural,  

political, economical, regulatory, and legal risks as well as finding the good  

local key personnel.                                                            



Overall, Ramirent is still dependent on the construction sector's economic      

cycles. Ramirent strives to reduce risk by seeking new customer groups outside  

the construction sector.                                                        



During the financial year Ramirent has revised its credit policy and introduced 

new local practises to lower the risk of bad debt. Ramirent is closely          

monitoring credits and regularly makes provisions for risk in sales receivables.

Ramirent also amended its Group management structure to increase efficiency in  

Group management, decision-making and to drive higher synergies between the     

operating segments.                                                             



Ramirent is subject to certain financial risks such as foreign currency and     

interest rate risks. During the financial year Ramirent has updated its Finance 

Policy to minimize liquidity risk by increasing the amount of committed back-up 

facilities and by reducing its dependence on the commercial paper markets.      

Ramirent has limited refinancing needs before the year 2010.                    



SHARES AND SHARE CAPITAL                                                        



The Annual General Meeting 2008 adopted the Board of Directors' proposal to     

reduce the share premium fund as shown in the balance sheet as per 31 December  

2007 by the amount of 126,643,828.85 euros by transferring the amount of EUR    

13,314,918.13 to the share capital and the amount of EUR 113,328,910.72 to the  

free equity fund. On December 31, 2008, Ramirent Plc's share capital entered was

EUR 25,000,000 divided into 108,697,328 shares.                                 



SHARE TURNOVER AND PERFORMANCE                                                  



Ramirent Plc's end-of-year market capitalization was EUR 353 (1,221) million.   

The Ramirent share price on December 31, 2008 was EUR 3.25 (11.23). The highest 

quotation for the year was EUR 12.68 (22.16), and the lowest EUR 2.37 (10.51).  

The average trading price was EUR 7.23 (16.22). The NASDAQ OMX Nordic Exchange  

Helsinki traded 132,730,217 (96,159,809) Ramirent shares, i.e. 122% (88.5%) of  

Ramirent's total number of shares, equivalent to a turnover of EUR 966 million  

(1,783).                                                                        



SHAREHOLDERS                                                                    



The ten principal shareholders on 31 December 2008 were:                        



				                                                                            

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

|      |                                 |           |   Number of | Percentag |

|      |                                 |           |      shares |      e of |

|      |                                 |           |             |     total |

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

|    1 | Nordstjernan Ab                 |           |  31 186 331 |   28,69 % |

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

|    2 | Julius Tallberg Corp.           |           |  11 962 229 |   11,01 % |

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

|    3 | Varma Mutual Pension Insurance  |           |   7 951 299 |    7,32 % |

|      | Company                         |           |             |           |

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

|    4 | Odin Funds                      |           |   5 088 414 |    4,68 % |

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

|      | -Odin Norden                    | 2 054 260 |             |           |

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

|      | -Odin Finland                   | 1 548 759 |             |           |

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

|      | -Odin Europa SMB                | 1 401 231 |             |           |

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

|      | -Odin Europa                    |    22 424 |             |           |

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

|      | -Odin Norden II                 |    61 740 |             |           |

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

|    5 | Ilmarinen Mutual Pension        |           |   3 123 316 |    2,87 % |

|      | Insurance Company               |           |             |           |

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

|    6 | FIM Funds                       |           |   1 409 592 |     1,30% |

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

|      | FIM Forte Fund                  |    577573 |             |           |

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

|      | FIM Fenno Fund                  |    787795 |             |           |

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

|      | FIM Nordic Fund                 |     44224 |             |           |

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

|    7 | Nordea Funds                    |           |   1 402 761 |    1,29 % |

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

|      | -Nordea Pro Finland Fund        |   523 665 |             |           |

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

|      | -Nordea Nordic Fund             |     1 186 |             |           |

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

|      | -Nordea Fennia Fund             |   584 578 |             |           |

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

|      | -Nordea Fennia Plus Fund        |   149 821 |             |           |

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

|      | -Nordea Finland Index Fund      |   103 559 |             |           |

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

|      | -Nordea Finland 130/30 Fund     |    39 952 |             |           |

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

|    8 | Fondita Funds                   |           |   1 090 000 |    1,00 % |

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

|      | Fondita Nordic Small Cap        |    900000 |             |           |

|      | Investment Fund                 |           |             |           |

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

|      | Fondita Equity Spice Investment |    190000 |             |           |

|      | Fund                            |           |             |           |

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

|    9 | Evli Funds                      |           |   1 062 877 |    0,98 % |

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

|      | -Mutual Fund Evli Select        |   418 598 |             |           |

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

|      | -Evli Nordic Dividend           |   406 419 |             |           |

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

|      | -Evli Wealth Manager            |   200 000 |             |           |

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

|      | -Evli Finland Mix               |    37 860 |             |           |

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

|   10 | The State Pension Fund          |           |   1 004 000 |    0,92 % |

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

|      | Ten largest registered owner's  |           |  65 280 819 |   60,06 % |

|      | total holding                   |           |             |           |

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

|      | Nominee registered shares       |           |  17 148 116 |   15,78 % |

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

|      | Other shareholders              |           |  26 268 393 |   24,17 % |

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

|      | Total                           |           | 108 697 328 |  100,00 % |

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



FLAGGING NOTIFICATIONS                                                          



On 30 May 2008, Ramirent received a disclosure under chapter 2, section 9 of the

Securities Markets Act from Nordstjernan AB. On 29 May 2008, the holdings of    

Nordstjernan AB in Ramirent Plc increased to 27,889,809 shares representing     

25.7% of Ramirent Plc's shares and voting rights.                               



DECISIONS MADE BY THE ANNUAL GENERAL MEETING OF 9 APRIL 2008                    



The Annual General Meeting of Ramirent Plc approved the financial statements for

2007 and discharged the members of the Board of Directors and CEO of Ramirent   

Plc from liability for the financial year 2007. In addition, the Annual General 

Meeting approved the proposals of the Board of Directors to amend the Articles  

of Association, as well as authorised the Board of Directors to decide on the   

acquisition of the Company's own shares and on a share issue.                   



The Annual General Meeting in 2008 decided on a dividend of EUR 0.50 (0.30) per 

share.                                                                          



The Annual General Meeting decided to elect seven members to the Board of       

Directors: Kaj-Gustaf Bergh, Torgny Eriksson, Peter Hofvenstam, Ulf Lundahl,    

Freek Nijdam, Erkki Norvio and Susanna Renlund. At the formative meeting of the 

Board of Directors held after the Annual General Meeting, Peter Hofvenstam was  

elected Chairman of the Board and Susanna Renlund Vice Chairman. Peter          

Hofvenstam, Kaj-Gustaf Bergh and Ulf Lundahl were elected members of the Working

Committee. Peter Hofvenstam was elected Chairman of the Working Committee. Peter

Hofvenstam and Susanna Renlund were elected members of the Audit Committee.     

Peter Hofvenstam was elected Chairman of the Audit Committee.                   



On 5 August 2008, Mr. Freek Nijdam informed his decision to resign from the     

Ramirent Board of Directors due to health reasons. Mr. Nijdam was a Ramirent    

Board member since 2007.                                                        



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.   





EVENTS AFTER THE REVIEW PERIOD                                                  



New CEO and changes in Ramirent's Group management team                         



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

Ramirent Group. Magnus Rosén succeeds Kari Kallio, who is retiring at the AGM   

2009. The composition of the Group's management board was amended as of 15      

January of 2009 to consist 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.                         



The purpose of the changes in the Group Management Team is to increase          

efficiency in group management and drive higher synergies between our countries.

Financial reporting remains unchanged according to six operating segments       

Finland, Sweden, Norway, Denmark, Europe East and Europe Central.               



Long-term financial targets                                                     



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 per cent p.a. and a return on invested capital of at

least 18 per cent p.a. In addition, a gearing target of less than 120 per cent  

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 per cent of annual earnings per share to the shareholders.             







PROPOSAL OF THE BOARD ON THE USE OF DISTRIBUTABLE FUNDS                         



The Board of Directors proposes to the Annual General Meeting that a dividend of

EUR 0.15 (0.50) per share be paid for the financial year 2008, corresponding to 

48% of the earnings per share.                                                  



ANNUAL GENERAL MEETING                                                          



The Annual General Meeting is scheduled to be held in Scandic Marina Congress   

Center, Katajanokanlaituri 6, 00160 Helsinki, Finland on 2 April 2009, at 4:30  

p.m. The invitation to the Annual General Meeting will be published on 19       

February 2009. The annual report will be available in week 9.                   



OUTLOOK                                                                         



Ramirent expects 2009 rental market to be clearly below 2008 level and has taken

actions to weather this downturn and maintain competitiveness.                  



According to a Euroconstruct forecast (Nov 2008), the construction volume will  

decline significantly in most of Ramirent's operating countries. Uncertainties  

related to the development in financial markets and its effects on the          

construction sector remain high. Forecasts indicate that overall start-ups of   

both new residential and non-residential construction will decline further      

during 2009. Renovation construction, which is important to the rental sector,  

will continue its steady growth. Infrastructure construction is expected to drop

slightly in 2009, unless the government authorities start reviving the economy  

by increasing public infrastructure investment.                                 



While continuing to execute its long-term growth strategy, Ramirent is entering 

a stabilisation phase where we are taking actions to reduce overall costs,      

safeguard cash flow, defend profitability and to preserve a strong balance      

sheet. This is clearly our top priority in the current economic environment.    



Cost saving actions including negotiations with the personnel started to reduce 

an estimated 600 persons of the Group's total workforce. Investments in new     

capacity have been halted and focus will lie on re-allocation of the fleet      

between our countries to support utilisation and price levels. On 15 January    

2009, the Group Management structure was also amended to increase efficiency and

drive higher synergies between our segments. Ramirent has increased its measures

to meet the growing financial risks related to both customer receivables and the

company's own liquidity risk.                                                   



Ramirent will also monitor opportunities for machinery outsourcing by companies 

that still own their own fleet capacity and opportunities for suitable          

acquisitions in the future. The usage of rental machinery is still relatively   

low by international standards in Ramirent's operating countries and is expected

to increase due to tightening financing and cost control as well as productivity

and safety requirements for construction and industrial companies.              



Due to the high level of uncertainty, contingency plans have been developed to  

address the risk of further market decline and to be able to act rapidly to     

changes in the market.                                                          



Due to high uncertainty and low visibility, no profit guidance will be given.   



SEGMENT INFORMATION, INCOME STATEMENT, BALANCE SHEET, CONDENSED CASH FLOW       

STATEMENT, STATEMENT OF CHANGES IN EQUITY, KEY FIGURES, AND CONTINGENT          

LIABILITIES                                                                     



Ramirent Plc adopted the International Financial Reporting Standards (IFRS) on 1

January, 2005. The Group applies the following amendments to the standards and  

IFRIC's as from the financial year 2007: Change in IAS 1 Presentation of        

Financial Statements; IAS 34: Interim Financial Reporting; IFRS 7 Financial     

Instruments: Disclosures; IFRIC 8, 9, 10, 11 and 12. The changes did not have   

any significant effect on Ramirent's financial figures. The same definitions of 

key financial figures have been applied as in Ramirent Plc's annual financial   

statements for 2006.                                                            



Segment information is presented for Ramirent's primary segment, which is       

determined by geographical split. From January 2008 the Ramirent Europe segment 

is reported as two separate segments, Europe East (Estonia, Latvia, Lithuania,  

Ukraine and Russia) and Europe Central (Poland, Hungary, Czech Republic and     

Slovakia). The comparative figures for 2007 have been reported accordingly. The 

operating profit includes a non-recurring gain from the divestment of           

properties, which has not been allocated to any segment.                        





QUARTERLY SEGMENT INFORMATION                                                   



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

| (EUR million)           |   10-12/08 |  10-12/07  |     1-12/08 |    1-12/07 |

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

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

| Net sales               |            |            |             |            |

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

| Finland                 |       38,8 |       36,1 |       154,4 |      133,6 |

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

| Sweden                  |       42,1 |       43,0 |       171,3 |      152,6 |

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

| Norway                  |       33,5 |       41,7 |       145,9 |      145,9 |

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

| Denmark                 |       16,3 |       15,5 |        59.0 |       57,0 |

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

| East Europe             |       20,9 |       26,2 |        89,9 |       91,0 |

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

| Central Europe          |       23,7 |       17,6 |        88,7 |       55,4 |

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

| Sales between segments  |       -2,9 |       -0,2 |        -6,7 |       -1,3 |

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

| Net sales, total        |      172,5 |      179,8 |       702,6 |      634,3 |

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

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

| Operating profit        |            |            |             |            |

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

| Finland                 |        2,9 |        8,6 |        30,5 |       34,8 |

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

| % of net sales          |      7,5 % |      23,9% |      19,8 % |      26,1% |

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

| Sweden                  |        1,7 |       11,2 |        29,9 |       35,1 |

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

| % of net sales          |      4,0 % |      26,0% |      17,4 % |      23,0% |

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

| Norway                  |       -5,8 |       10,5 |        15,1 |       35,9 |

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

| % of net sales          |    -17,4 % |      25,2% |      10,4 % |      24,6% |

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

| Denmark                 |       -2,5 |        3,8 |         0,7 |       10,2 |

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

| % of net sales          |    -15,1 % |      24,2% |       1,1 % |      17,9% |

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

| East Europe             |      -12,9 |          9 |        -1,4 |       29,4 |

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

| % of net sales          |    -61,5 % |      34,3% |      -1,5 % |     32,3 % |

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

| Central Europe          |        0,2 |        3,6 |         8,4 |       12,9 |

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

| % of net sales          |      0,8 % |      20,4% |       9,5 % |      23,2% |

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

| Costs not allocated to  |       -3,3 |       -0,4 |        -3,5 |       -0,8 |

| segments                |            |            |             |            |

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

| Group operating profit  |      -19,7 |       46,3 |        79,7 |      157,6 |

| excluding the profit of |            |            |             |            |

| divestment of           |            |            |             |            |

| properties              |            |            |             |            |

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

| % of net sales          |    -11,4 % |      25,8% |      11,3 % |      24,8% |

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

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







INCOME STATEMENT                                                                



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

| (EUR 1,000)              |  10-12-/08 |   10-12/07 |    1-12/08 |    1-12/07 |

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

|                          |            |            |            |            |

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

| Net sales                |    172 501 |    179 799 |    702 635 |    634 257 |

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

| Other operating income   |        539 |      2 316 |      3 817 |      5 825 |

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

| TOTAL                    |    173 040 |    182 115 |    706 452 |    640 083 |

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

| Materials and services   |    -54 587 |    -49 249 |   -208 186 |   -173 750 |

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

| Employee benefit         |    -45 690 |    -40 120 |   -176 372 |   -152 970 |

| expenses                 |            |            |            |            |

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

| Depreciation             |    -36 231 |    -21 494 |   -109 107 |    -79 457 |

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

| Other operating expenses |    -56 233 |    -24 931 |   -133 074 |    -76 361 |

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

| OPERATING PROFIT         |    -19 702 |     46 321 |     79 713 |    157 545 |

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

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

| Financial income         |     12 738 |      2 413 |     22 658 |      5 761 |

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

| Financial expenses       |    -25 861 |     -5 234 |    -51 713 |    -17 553 |

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

| PROFIT BEFORE TAXES      |    -32 825 |     43 500 |     50 658 |    145 753 |

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

| Income taxes             |      4 968 |    -11 009 |    -16 944 |    -35 541 |

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

| NET PROFIT FOR THE       |    -27 857 |     32 492 |     33 715 |    110 212 |

| PERIOD                   |            |            |            |            |

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

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

| Sharing of profit:       |            |            |            |            |

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

| To the parent company's  |    -27 857 |     32 484 |     33 715 |    110 177 |

| shareholders             |            |            |            |            |

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

| To the Group's minority  |          - |          7 |          - |         36 |

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

| Sharing of profit, total |    -27 857 |     32 492 |     33 715 |    110 212 |

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

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

| Earnings per share       |            |            |       0,31 |       1,02 |

| (EPS), diluted, EUR      |            |            |            |            |

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

| Earnings per share       |            |            |       0,31 |       1,02 |

| (EPS), non-diluted, EUR  |            |            |            |            |

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





BALANCE SHEET                                                                   



ASSETS                                                                          

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

| (EUR 1,000)                             |      31.12.2008 |       31.12.2007 |

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

| NON-CURRENT ASSETS                      |                 |                  |

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

| Tangible assets                         |         528 780 |          505 800 |

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

| Goodwill                                |          87 398 |           77 633 |

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

| Other intangible assets                 |           6 986 |            2 011 |

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

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

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

| Deferred tax assets                     |           6 117 |             2170 |

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

| NON-CURRENT ASSETS, TOTAL               |         629 359 |          587 709 |

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

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

| CURRENT ASSETS                          |                 |                  |

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

| Inventories                             |          21 258 |           22 155 |

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

| Trade and other receivables             |          99 055 |          122 873 |

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

| Income tax receivables on the taxable   |             377 |              225 |

| income for the financial period         |                 |                  |

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

| Cash and cash equivalents               |           2 072 |            1 200 |

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

| Non-current assets held for sale        |             559 |            2 967 |

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

| CURRENT ASSETS, TOTAL                   |         123 320 |          149 420 |

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

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

| TOTAL ASSETS                            |         752 679 |          737 129 |

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





EQUITY AND LIABILITIES                                                          



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

| (EUR 1,000)                        | 31.12.2008          |        31.12.2007 |

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

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

| EQUITY                             |                     |                   |

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

| Share capital                      |              25 000 |            11 685 |

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

| Share premium account              |                     |           126 644 |

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

| Free equity fund                   |             113 329 |                   |

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

| Retained earnings                  |             142 766 |           202 683 |

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

| PARENT COMPANY SHAREHOLDERS'       |             281 095 |           341 012 |

| EQUITY                             |                     |                   |

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

| Minority interests                 |                   - |               107 |

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

| EQUITY, TOTAL                      |             281 095 |           341 119 |

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

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

| NON-CURRENT LIABILITIES            |                     |                   |

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

| Deferred tax liabilities           |              46 273 |            44 271 |

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

| Pension obligations                |               7 030 |             8 036 |

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

| Provisions                         |               6 929 |               987 |

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

| Interest-bearing liabilities       |             275 731 |           164 501 |

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

| NON-CURRENT LIABILITIES, TOTAL     |             335 962 |           217 796 |

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

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

| CURRENT LIABILITIES                |                     |                   |

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

| Trade payables and other           |              81 445 |            89 007 |

| liabilities                        |                     |                   |

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

| Provisions                         |              17 452 |               463 |

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

| Income tax liabilities on the      |               7 401 |            16 187 |

| taxable income for the financial   |                     |                   |

| period                             |                     |                   |

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

| Interest-bearing liabilities       |              29 325 |            72 558 |

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

| CURRENT LIABILITIES, TOTAL         |             135 622 |           178 215 |

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

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

| LIABILITIES, TOTAL                 |             471 584 |           396 011 |

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

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

| TOTAL EQUITY AND LIABILITIES       |             752 679 |           737 129 |

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





CONDENSED CASH FLOW STATEMENT                                                   



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

| (EUR million)                             |         1-12/08 |        1-12/07 |

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

| Cash flow from operating activities       |         168,483 |        173,787 |

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

| Cash flow from investing activities       |        -161,477 |       -192,711 |

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

| Cash flow from financing activities       |                 |                |

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

|    Proceeds from share subscriptions      |               - |          0,693 |

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

| Borrowings/ repayments of short-term debt |         -39,377 |         50,523 |

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

| Borrowings and repayments of long-term    |          87,593 |          0,254 |

| debt                                      |                 |                |

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

|    Dividends paid                         |         -54,349 |        -32,460 |

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

| Net cash generated from financing         |          -6,133 |         19,011 |

| activities                                |                 |                |

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

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

| Net change in cash and cash equivalents   |                 |                |

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

| Cash and cash equivalents at the          |           1,200 |          1,113 |

| beginning of the period                   |                 |                |

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

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

| Translation difference on cash and cash   |           0,139 |          0,000 |

| equivalents                               |                 |                |

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

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

| Net change in cash and cash equivalents   |           0,734 |          0,087 |

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

| Cash and cash equivalents at the end of   |           2,072 |          1,200 |

| the period                                |                 |                |

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





CHANGES IN EQUITY                                                               



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

| A = Share capital                                                            |

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

| B = Share premium fund                                                       |

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

| C = Free equity fund                                                         |

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

| D = Translation differences                                                  |

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

| E = Revaluation fund                                                         |

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

| F = Retained earnings                                                        |

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

| G = Entries on current held for sale                                         |

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

| H = Parent shareholders' equity                                              |

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

| I = Minority interest                                                        |

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

| J = Total equity                                                             |

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



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

|      (EUR |       |      |       |      |       |     |       |      |       |

|   1,000)  |       |      |       |      |       |     |       |      |       |

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

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

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

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

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

| Eq- | 116 | 12601 |  -   |  4898 |  109 | 12206 | 136 | 26484 |   83 | 26492 |

| uit |  25 |     1 |      |       |      |     2 |     |     1 |      |     4 |

|   y |     |       |      |       |      |       |     |       |      |       |

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

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

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

|   6 |     |       |      |       |      |       |     |       |      |       |

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

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

| Tra | -   | -     |    - | -1998 | -    |     - |   - | -1998 |  -12 | -2010 |

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

| -la |     |       |      |       |      |       |     |       |      |       |

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

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

| dif |     |       |      |       |      |       |     |       |      |       |

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| n-c |     |       |      |       |      |       |     |       |      |       |

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| 1-1 |     |       |      |       |      |       |     |       |      |       |

|  2/ |     |       |      |       |      |       |     |       |      |       |

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

|   7 |     |       |      |       |      |       |     |       |      |       |

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

| Fai | -   | -     |    - |     - | -326 |     - |   - |  -326 |    - |  -326 |

|   r |     |       |      |       |      |       |     |       |      |       |

| val |     |       |      |       |      |       |     |       |      |       |

| -ue |     |       |      |       |      |       |     |       |      |       |

| ad- |     |       |      |       |      |       |     |       |      |       |

| jus |     |       |      |       |      |       |     |       |      |       |

| tme |     |       |      |       |      |       |     |       |      |       |

|  nt |     |       |      |       |      |       |     |       |      |       |

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

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

| te- |     |       |      |       |      |       |     |       |      |       |

| res |     |       |      |       |      |       |     |       |      |       |

|   t |     |       |      |       |      |       |     |       |      |       |

| rat |     |       |      |       |      |       |     |       |      |       |

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

| SWA |     |       |      |       |      |       |     |       |      |       |

| Ps  |     |       |      |       |      |       |     |       |      |       |

| 1-1 |     |       |      |       |      |       |     |       |      |       |

|  2/ |     |       |      |       |      |       |     |       |      |       |

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

|   7 |     |       |      |       |      |       |     |       |      |       |

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

| In- | -   | -     |  -   |     - |   85 |     - |   - |    85 |    - |    85 |

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

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

| tax |     |       |      |       |      |       |     |       |      |       |

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

| di- |     |       |      |       |      |       |     |       |      |       |

| rec |     |       |      |       |      |       |     |       |      |       |

| -tl |     |       |      |       |      |       |     |       |      |       |

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|  to |     |       |      |       |      |       |     |       |      |       |

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

|   7 |     |       |      |       |      |       |     |       |      |       |

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

| En- |   - |     - |    - | -1998 | -241 |     - |   - | -2239 |  -12 | -2251 |

| tri |     |       |      |       |      |       |     |       |      |       |

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

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

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

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

| Net | -   |     - |    - |     - | -    | 11017 |   - | 11017 |   36 | 11021 |

| res |     |       |      |       |      |     7 |     |     7 |      |     3 |

| -ul |     |       |      |       |      |       |     |       |      |       |

|   t |     |       |      |       |      |       |     |       |      |       |

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

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

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

| -io |     |       |      |       |      |       |     |       |      |       |

| d 1 |     |       |      |       |      |       |     |       |      |       |

|   - |     |       |      |       |      |       |     |       |      |       |

| 12/ |     |       |      |       |      |       |     |       |      |       |

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

|   7 |     |       |      |       |      |       |     |       |      |       |

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

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

| Net |   - |     - |    - | -1998 | -241 | 11017 |   - | 10793 |   24 | 10796 |

|  of |     |       |      |       |      |     7 |     |     8 |      |     2 |

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

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

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

| and |     |       |      |       |      |       |     |       |      |       |

| ex- |     |       |      |       |      |       |     |       |      |       |

| pen |     |       |      |       |      |       |     |       |      |       |

| -se |     |       |      |       |      |       |     |       |      |       |

|   s |     |       |      |       |      |       |     |       |      |       |

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

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

| pe- |     |       |      |       |      |       |     |       |      |       |

| rio |     |       |      |       |      |       |     |       |      |       |

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

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

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

| Di- |   - |     - |    - |     - |    - | -3246 |   - | -3246 |    - | -3246 |

| vi- |     |       |      |       |      |     0 |     |     0 |      |     0 |

| den |     |       |      |       |      |       |     |       |      |       |

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

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

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

| i-b |     |       |      |       |      |       |     |       |      |       |

| u-t |     |       |      |       |      |       |     |       |      |       |

| ion |     |       |      |       |      |       |     |       |      |       |

|   1 |     |       |      |       |      |       |     |       |      |       |

| -12 |     |       |      |       |      |       |     |       |      |       |

|   / |     |       |      |       |      |       |     |       |      |       |

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

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

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

| Ex- |  60 |   633 |    - |     - | -    |     - |   - |   693 |    - |   693 |

| er- |     |       |      |       |      |       |     |       |      |       |

| ci- |     |       |      |       |      |       |     |       |      |       |

| sed |     |       |      |       |      |       |     |       |      |       |

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

| -re |     |       |      |       |      |       |     |       |      |       |

| op- |     |       |      |       |      |       |     |       |      |       |

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

| ons |     |       |      |       |      |       |     |       |      |       |

| 1-1 |     |       |      |       |      |       |     |       |      |       |

|  2/ |     |       |      |       |      |       |     |       |      |       |

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

|   7 |     |       |      |       |      |       |     |       |      |       |

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

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

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

| Eq- | 116 | 12664 |    - |  2900 | -132 | 19977 | 136 | 34101 |  107 | 34111 |

| uit |  85 |     4 |      |       |      |     9 |     |     2 |      |     9 |

|   y |     |       |      |       |      |       |     |       |      |       |

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

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

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

|   7 |     |       |      |       |      |       |     |       |      |       |

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

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

| Tra | -   | -     |    - | -3640 | -    |     - |   - | -3640 |    - | -3640 |

| -ns |     |       |      |     8 |      |       |     |     8 |      |     8 |

| -la |     |       |      |       |      |       |     |       |      |       |

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

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

| dif |     |       |      |       |      |       |     |       |      |       |

| -fe |     |       |      |       |      |       |     |       |      |       |

| -re |     |       |      |       |      |       |     |       |      |       |

| n-c |     |       |      |       |      |       |     |       |      |       |

|  es |     |       |      |       |      |       |     |       |      |       |

| 1-1 |     |       |      |       |      |       |     |       |      |       |

|  2/ |     |       |      |       |      |       |     |       |      |       |

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

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

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

| Cha | -   | -     |    - |     - | -    |     - |   - |     - | -107 |  -107 |

| -ng |     |       |      |       |      |       |     |       |      |       |

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

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

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

| no- |     |       |      |       |      |       |     |       |      |       |

| rit |     |       |      |       |      |       |     |       |      |       |

|   y |     |       |      |       |      |       |     |       |      |       |

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

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

| 1-1 |     |       |      |       |      |       |     |       |      |       |

|  2/ |     |       |      |       |      |       |     |       |      |       |

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

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

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

| Fai | -   | -     |      |     - | -388 |     - |   - | -3885 |    - | -3885 |

|   r |     |       |      |       |    5 |       |     |       |      |       |

| val |     |       |      |       |      |       |     |       |      |       |

| -ue |     |       |      |       |      |       |     |       |      |       |

| ad- |     |       |      |       |      |       |     |       |      |       |

| jus |     |       |      |       |      |       |     |       |      |       |

| t-m |     |       |      |       |      |       |     |       |      |       |

| ent |     |       |      |       |      |       |     |       |      |       |

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

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

| te- |     |       |      |       |      |       |     |       |      |       |

| res |     |       |      |       |      |       |     |       |      |       |

|   t |     |       |      |       |      |       |     |       |      |       |

| rat |     |       |      |       |      |       |     |       |      |       |

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

| SWA |     |       |      |       |      |       |     |       |      |       |

|  Ps |     |       |      |       |      |       |     |       |      |       |

| 1-1 |     |       |      |       |      |       |     |       |      |       |

|  2/ |     |       |      |       |      |       |     |       |      |       |

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

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

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

| In- | -   | -     |      |     - | 1010 |     - |   - |  1010 |    - |  1010 |

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

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

| tax |     |       |      |       |      |       |     |       |      |       |

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

| di- |     |       |      |       |      |       |     |       |      |       |

| rec |     |       |      |       |      |       |     |       |      |       |

| -tl |     |       |      |       |      |       |     |       |      |       |

|   y |     |       |      |       |      |       |     |       |      |       |

|  to |     |       |      |       |      |       |     |       |      |       |

| eq- |     |       |      |       |      |       |     |       |      |       |

| uit |     |       |      |       |      |       |     |       |      |       |

|   y |     |       |      |       |      |       |     |       |      |       |

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

| tri |     |       |      |       |      |       |     |       |      |       |

| -es |     |       |      |       |      |       |     |       |      |       |

| 1-1 |     |       |      |       |      |       |     |       |      |       |

|  2/ |     |       |      |       |      |       |     |       |      |       |

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

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

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

| En- |   - |     - |      | -3640 | -287 |     - |   - | -3928 | -107 | -3939 |

| tri |     |       |      |     8 |    5 |       |     |     3 |      |     0 |

| -es |     |       |      |       |      |       |     |       |      |       |

| di- |     |       |      |       |      |       |     |       |      |       |

| rec |     |       |      |       |      |       |     |       |      |       |

| -tl |     |       |      |       |      |       |     |       |      |       |

|   y |     |       |      |       |      |       |     |       |      |       |

|  to |     |       |      |       |      |       |     |       |      |       |

| eq- |     |       |      |       |      |       |     |       |      |       |

| uit |     |       |      |       |      |       |     |       |      |       |

|   y |     |       |      |       |      |       |     |       |      |       |

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

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

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

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

| Net | -   |     - |      |     - | -    | 33715 |   - | 33715 |    - | 33715 |

| re- |     |       |      |       |      |       |     |       |      |       |

| sul |     |       |      |       |      |       |     |       |      |       |

|   t |     |       |      |       |      |       |     |       |      |       |

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

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

| pe- |     |       |      |       |      |       |     |       |      |       |

| rio |     |       |      |       |      |       |     |       |      |       |

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

|  1- |     |       |      |       |      |       |     |       |      |       |

| 12/ |     |       |      |       |      |       |     |       |      |       |

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

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

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

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

| Net |   - |     - |    - | -3640 | -287 | 33715 |   - | -5568 | -107 | -5675 |

|  of |     |       |      |     8 |    5 |       |     |       |      |       |

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

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

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

| and |     |       |      |       |      |       |     |       |      |       |

| ex- |     |       |      |       |      |       |     |       |      |       |

| pen |     |       |      |       |      |       |     |       |      |       |

| -se |     |       |      |       |      |       |     |       |      |       |

|   s |     |       |      |       |      |       |     |       |      |       |

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

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

| pe- |     |       |      |       |      |       |     |       |      |       |

| rio |     |       |      |       |      |       |     |       |      |       |

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

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

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

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

| Re- | 133 | -1266 | 1133 |     - | -    |     - |   - |     - |    - |     - |

| duc |  15 |    44 |   29 |       |      |       |     |       |      |       |

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

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

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

| Sha |     |       |      |       |      |       |     |       |      |       |

| -re |     |       |      |       |      |       |     |       |      |       |

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

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

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

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

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

| 1-1 |     |       |      |       |      |       |     |       |      |       |

| 2/- |     |       |      |       |      |       |     |       |      |       |

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

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

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

| Di- | -   | -     | -    |     - |    - | -5434 |   - | -5434 |    - | -5434 |

| vi- |     |       |      |       |      |     9 |     |     9 |      |     9 |

| den |     |       |      |       |      |       |     |       |      |       |

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

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

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

| i-b |     |       |      |       |      |       |     |       |      |       |

| u-t |     |       |      |       |      |       |     |       |      |       |

| ion |     |       |      |       |      |       |     |       |      |       |

| 1-1 |     |       |      |       |      |       |     |       |      |       |

|  2/ |     |       |      |       |      |       |     |       |      |       |

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

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

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

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

| Eq- | 250 |     - | 1133 | -3350 | -300 | 17914 | 136 | 28109 |    - | 28109 |

| uit |  00 |       |   29 |     8 |    7 |     5 |     |     5 |      |     5 |

|   y |     |       |      |       |      |       |     |       |      |       |

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

| -12 |     |       |      |       |      |       |     |       |      |       |

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

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

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

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





KEY FIGURES                                                                     



1-12/08	1-12/07

		

Interest-bearing debt, (EUR million)	305,1	237,1

Net debt, (EUR million)	         303,0	235,9

Invested capital (EUR million), end of period	586,2	578,2

Return on invested capital (ROI), % 1)	17,5 %	31,7%

Gearing, %	107,8 %	69,2%

Equity ratio, %	37,4 %	46,3%

Personnel, average	4006	3 407

Personnel, end of period	3894	3 642

		

Gross investments in non-current assets (EUR million)	201,3	217,5

Gross investments, % of net sales	28,7 %	34,3 %

		

1) The figures are calculated on a rolling twlve month basis.		



The definitions of the key figures are available in the Annual Report 2007.     



1) The figures are calculated on a rolling twelve month basis.                  





KEY FIGURES PER SHARE                                                           







CONTINGENT LIABILITIES                                                          



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

| (EUR million)                      |          31.12.2008 |        31.12.2007 |

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

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

| Real estate mortgages              |                 0,2 |                 - |

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

| Interest-bearing debt for which    |                 0,1 |                 - |

| the above collateral is given      |                     |                   |

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

| Floating charges                   |                 1,7 |                   |

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

| Other pledged assets               |                 4,4 |               0,1 |

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

| Interest-bearing debt for which    |                 4,4 |               0,0 |

| the above collaterial is given     |                     |                   |

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

| Suretyships                        |                 3,0 |               2,6 |

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

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

| Committed investments              |                 0,2 |              86,4 |

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

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

| Non-cancellable minimum future     |               169,2 |             127,7 |

| operating lease payments           |                     |                   |

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

| Non-cancellable minimum future     |                 0,2 |               2,5 |

| finance lease payments             |                     |                   |

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

| Finance lease debt in the balance  |                -0,9 |              -2,4 |

| sheet                              |                     |                   |

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

| Non-cancellable minimum future     |               168,5 |             127,8 |

| lease payments off-balance sheet   |                     |                   |

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

| Obligations arising from           |                     |                   |

| derivative istruments              |                     |                   |

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

| Nominal value of underlying object |               118,2 |             122,0 |

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

| Fair value of the derivative       |                -4,1 |              -0,2 |

| instruments                        |                     |                   |

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





Ramirent has borrowing facilities which have equity ratio, leverage ratio and   

other financial covenants. Ramirent's financial ratios are on 31 December 2008  

better than these covenants.                                                    



Ramirent has made no transactions with its related parties during the financial 

year. There are no outstanding balances between the Company and its related     

parties at the end of the financial year.                                       



There are no pending legal cases, the impact of which could have a material     

effect on the figures reported in this report.                                  





ANALYST AND PRESS BRIEFING ON 12 FEBRUARY, 2009                                 



A briefing for investment analysts and the press will be arranged on Thursday,  

12 February 2009 at 11.00 a.m. in Marskin hall at Helsinki World Trade Center   

(visiting address: Aleksanterinkatu 17). You can also participate in the        

briefing through a live web cast at www.ramirent.com and conference call.       

Dial-in number for conference call: +44(0)20 7162 0025. An on-demand recording  

of the audio cast 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 825458).                                                      





INVITATION TO THE RAMIRENT CAPITAL MARKET DAY IN HELSINKI ON 12 MARCH, 2009     



Ramirent Group will be holding a Capital Market Day for institutional investors 

and analysts in Helsinki, Finland.                                              



When: Thursday 12 March, 2009 starting at 1:30 pm and ending with a dinner.     

Where: Diana-auditorium, Erottajankatu 5, 00130 Helsinki, Finland               

Speakers: Members of the Ramirent group management team                         

Registration: Before 28 February, 2009 to Franciska.janzon@ramirent.com         

Contact person: Franciska Janzon, Corporate Communications and IR, phone: +358  

20 750 2859                                                                     



A detailed programme for the day will be available in the beginning of March at 

www.ramirent.com >Investor >Calendar.                                           





FINANCIAL REPORTING 2009                                                        



Ramirent's Annual Report 2009 will be available at www.ramirent.com on Friday 27

February, 2009.                                                                 



Ramirent Plc's Annual General Meeting will be held in Scandic Marina Congress   

Center, Katajanokanlaituri 6, 00160 Helsinki, Finland on 2 April 2009 at 4:30   

p.m.                                                                            



In 2009, the interim reports will be published as follows:                      



- January-March	13 May 2009 at 9:00 a.m.                                     

- 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 been audited.      



Vantaa, 12 February 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 some 360 permanent outlets in thirteen

countries and is registered in Helsinki. Ramirent employs over 3.900 people and 

in 2008 the consolidated net sales were EUR 703 million. Ramirent is listed on  

the NASDAQ OMX Helsinki.

ramirent financial statements 2008.pdf