SHAPING THE FUTURE CRAMO GROUP
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CRAMO GROUP SHAPING THE FUTURE
STRONG RENTAL POSITION
#2 #2
#1
in Europe in the Nordics (MS)
Norway
Finland
Russia
Estonia
in Europe Sweden
300
324 14 Denmark
Lithuania
depots
depots countries Poland
Germany Ukraine
Czech Rep.
Slovakia
150,000 230,000 Austria
Hungary
customers rental units Cramo
Fortrent
CRAMO GROUP IN NUMBERS (2017)
Cramo is a rental solutions provider
What in machinery, equipment and
modular space
Construction Public sector
For whom industry Household,
Other industries other
Sales 729,5 MEUR (+2.4%)
EBITA 120,7 MEUR (+13.1%)
Key financials
Listed on the Helsinki Stock
Exchange since 1988, midcap
Depot network 300 depots 14 countries
Personnel 2,538, average 2017 (-0.6%)
Fleet More than 230.000 items
CRAMO GROUP TODAY Cramo is one of the leading equipment rental service companies in Europe, with operations in 14 countries and sales of EUR 729,5 million and comparable EBITA EUR 120 million in 2017. We operate under the Cramo brand in Nordic and Baltic countries, Germany, Austria, Hungary, Poland, the Czech Republic and Slovakia. In Russia and Ukraine under the brand of Fortrent (50% owned JV). The Modular Space business is marketed under the sub-brand Cramo Adapteo. Cramo is the #2 player in rental market in Europe and #1 in modular space in the Nordic countries. In addition to strong market position and brand, Cramo’s key strength is extensive rental concept combined with flexible business model and operational efficiency. Cramo's 2,500 employees serve over 150,000 customers.
FINANCIAL
FINANCIAL TARGETS 2017-2020
EQUIPMENT RENTAL MODULAR SPACE
Double digit organic rental sales
Organic sales growth > market
growth
ROCE > 14.5%
ROCE > 12.5%
GROUP
Net Debt / EBITDA < 3x
ROE > 15 %
DIVIDEND PAYOUT RATION ~40 %
* Financial targets: on average during 2017- 2020
* ROCE = EBIT / capital employed (average)
SHARE OF GROUP SALES
Modular Space
17%
Equipment
Rental
Central Europe
11%
ER Scandinavia
52%
ER Finland and
Eastern Europe
20%
EUR 680 million
PROFITABLE GROWTH CONTINUED
140,0 25
120,0
120,0 111,1
20 Organic sales growth of 4.6% during 2017 vs 2016
100,0
86,8 Comparable EBITA improved to EUR 120 million
73,2 16,5 % 15 (EUR 111m)
80,0 15,6 %
60,0 13,0 % Comparable EBITA margin grew to 16.5% (15.6%)
11,2 % 10
40,0 Comparable EPS grew to EUR 1.87 (1.70)
5,0
20,0 Comparable ROE increased to 15.4% (14.9%)
0,0 0,0
2014 2015 2016 2017
EBITA (M€)* EBITA* margin
* Comparable EBITA
2017 FINANCIALS PER BUSINESS SEGMENT
ER Finland
ER Scandinavia ER Central Europe Modular Space
and Eastern Europe
Net sales Net sales Net sales Net sales
(mEUR) (mEUR) (mEUR) (mEUR) a
380 143 80 127
Finland Finland
Norway
EBITA EBITA EBITA Norway
EBITA
(margin-%) Estonia
(margin-%) (margin-%) Estonia
(margin-%)
Sweden Sweden
73 (19%)
Lithuania
25 (18%) 4 (6%)
Denmark Lithuania
29 (23%)
ROCE Poland ROCE ROCE ROCE
Germany Germany
Czech Rep.
19% 13% Austria
Slovakia
Hungary
5% 9%
EBITA and ROCE figures are presented as comparable figures excluding IAC’s
FINANCIAL TARGET REALISATION
AFTER FIRST YEAR OF 2017-2020 STRATEGY PERIOD
Organic sales
growth > 4.0%
EQUIPMENT
RENTAL
market**
ROE > 15% 15.4%
ROCE > 14.5% 15.5%
Double digit
GROUP
Net Debt /
EBITDA < 3x
1.65
organic rental 9.3%
Dividend
MODULAR
SPACE
sales growth *
ROCE >
payout ratio
~40 %
45%***
9.1%
12.5%
* Organic (rental) sales growth excludes the impact of acquisitions, divestments and exchange rate changes
** According to ERA (European Rental Association) in the markets where Cramo is present
*** Board proposal to AGMDIVIDEND DEVELOPMENT 2014-2017
0.90
0.80
0.70
Dividend (EUR/share)
0.60
0.50
0.85
0.40
0.75
0.65
0.30
0.55
0.20
0.10
0.00
2014 2015 2016 2017OPERATIONS
ALWAYS PUTTING OUR CUSTOMERS FIRST
WE ARE ALWAYS HELPFUL
#1 Every Cramo country has its own ombudsman. The ombudsman is a neutral
authority who is willing and able to resolve and causes of dissatisfaction.
Their job is to make our customers happy and help us to improve.
WE ARE ALWAYS ON TIME
#2 We understand your needs and timetables so well that every delay is too much.
One minute late or one hose short, we’ll take responsibility – just to keep our
service standards at least as high as your expectations.
OUR EQUIPMENT NEVER FAILS
#3 High-quality equipment is the very core of our business. When equipment
needs to be fixed or replaced, we’ll do it faster than you could imagine.WE MAKE YOUR DAILY LIFE EASIER
AND MORE EFFICIENT Committed to
development
High quality
An easier, and safety
more Rental
efficient day objects for
every
Reliable possible
delivery need
Always
nearby A passion to
serveTWO STRONG BUSINESS DIVISIONS
EQUIPMENT MODULAR
RENTAL SPACEEQUIPMENT RENTAL
EQUIPMENT RENTAL
A wide range of rental-related services Comprehensive range of tools
ranging from different site services, such as and complete package solutions
proactive site monitoring, construction site in building equipment.
logistics, dust control and weather
sheltering to safety-related and
environmental services,
equipment and training.
Site huts adaptable
for various purposes
and capacity needs.
Modern, comprehensive fleet of
construction equipment for any type
Access equipment with of assignments, from major road
comprehensive safety solutions projects to small-scale jobs as well
for working at heights. as industrial projects.OUR EQUIPMENT RENTAL OFFERING
Trading and rental-
related services
25 % Tools
32 %
Site huts
13 %
Construction
15 % Equipment
11 %
Access
Equipment
MORE THAN 206,000 EQUIPMENT RENTAL ITEMS 19 %SALES BY CUSTOMER GROUP
Other
5%
Households 2%
Public sector
11%
Construction
industry
Other 59%
industries
23%
MORE THAN 150,000 CUSTOMERSMODULAR SPACE
MODULAR SPACE
DELIVERY 2
Transport of modules and assembly of the
temporary space solution.
1 PLANNING PROJECT TIMELINE
Analysing customer needs and designing the
optimal solution together.
PROJECT TIMELINE
4 RETURN
RENTAL PERIOD 3
Rental period varying from two to five years,
Disassembly of the temporary space solution, maintenance and other services available
site restoration and off-site transport. during renting.
PROJECT TIMELINE PROJECT TIMELINEOUR MODULAR SPACE OFFERING MORE THAN 24,000 RENTAL UNITS
SERVED CUSTOMER SEGMENTS OFFICES DAYCARE ACCOMMODATION SCHOOLS EVENTS Offices
YEAR 1 SHAPE AND SHARE STRATEGY
SHAPE AND SHARE
Vision
What do we want to be? VALUE ADDED
SHARED RESOURCES SIMPLIFIED
Mission
What do we want to accomplish? OUR MISSION
Create great days at work and room for great days
Purpose
Why do we exist? OUR PURPOSE
Driving the sharing economy
Strategy
Our plan to reach vision, mission OUR STRATEGY
and purpose Shape and Share
People and performance Game-changing offerings
Focus areas Stretch and scale up business models
How we drive our strategy Capture potential in our markets
FOCUS AREAS
Values
Enable people to perform Shape the future
Our common platform and foundation
Modular space Equipment rental
More than 150,000 customers
Secure resources & Offerings & delivery platform
German market Operational excellence
VALUES
Credibility Creativity CommitmentSHAPE AND SHARE
We shape our
• Industry
We will capture the potential in our markets
• Offerings
• Organisation
• We enable Cramo people to • Attitudes
achieve top performance
• We significantly stretch our
core business models
• We rapidly grow Modular Space We share
in chosen European markets • Resources
• We establish game changing offerings • Best Practices
in sharing resources • Ideas
• ValuesEXECUTION YEAR 1
• Modular Space business was strengthened in • In December, it was annouced that Cramo Group
June, when Cramo acquired assets of Just will assess strategic alternatives for its Modular
Pavillon A/S in Denmark Space (Cramo Adapteo) business including a
potential demerger and separate listing of Cramo
• Danish Equipment Rental operations were Adapteo
divested to Loxam A/S. The deal was closed in
August. • In December, Cramo and the European
Investment Bank (EIB) signed a EUR 50 million
• In August, Cramo also divested its operations long-term loan agreement to back Cramo’s
in Latvia and Kaliningrad European growth strategy
• Cramo and Ramirent explore strategic options • After the period,
for their Russia and Ukraine-based joint announcement of
venture company Fortrent acquisition of KBS Group
a leading, high-quality
construction site logistics
company in GermanySTRATEGIC STEPS 2017-2020
Growth
Building a new footprint in chosen markets
Targeting organic and inorganic growth
Continuously evaluating potential acquisitions target companies and striving for a leading position in chosen markets
Optimise
Shaping the business structure and model
Enhancing the performance culture
Creating a new digital concept
Striving for zero accidents
Align
Implementing Group-wide processes and tools
Living the Cramo Story
Establishing the renewed Cramo CareKEY FOCUS AREAS
Secure resources
in Modular Space
Enable people Game-changing Stretch business
to perform offerings models
Capture potential
in GermanyCAPTURING OPPORTUNITIES IN
A CHANGING WORLD
MEGATRENDS DRIVERS
Migration
Urbanisation Digitalization
CRAMO
Demographic changes Sustainable development
Scarcity of resources
SHARING
ECONOMYDIGITAL VISION AND MISSION
Vision
Digital change
leaders
Mission
Easy accessible,
always open
channels that
adds value
Shapers, not followers!DIGITALISATION IN CRAMO Digital Transformation Team (DTT) a Cross-functional team to drive Cramo’s digital development - Focusing on new initiatives Web and Social media presence Build internal Sharing culture Capture the potential in IoT – a connected fleet
DIGITALISATION AND THE FUTURE OF RENTAL
Cramo Innovation Race The Innovation Team The fleet is becoming more
digital
More than 150,000 customers
Innovations & New Business IoT, a connected fleet Digital Transformation Team
Director Tomi SundbergCramo eCOMMERCE SOLUTION
Easy Easy to find
access products
Efficient portal for
account and rental Detailed product
management data
Easy to make Accurate availability
transactions informationWE ARE SHAPERS OUR NEW PEOPLE STRATEGY
WE ARE SHAPERS
SHAPING OUR INDUSTRY, OUR BUSINESS AND OUR OWN FUTURE
“For me, it’s important that Cramo is an attractive
employer, both for you who already work here and
for you who might join us in the future. I strongly
believe that we need to continue to focus on
developing our people – to have high engagement
and reach our company goals.”
Petra Schedin Stergel, SVP HRD
www.cramogroup.com/career
We are shaping our industry Focus on people Passion for improvement
We have the ambition to take our We are on a journey of We have an open atmosphere. Everyone
company and our industry to the next growth. To reach our full can influence the future of Cramo and
level. We find new ways to exceed our potential we focus on can contribute with new ideas.
customers’ expectations. developing our people.CRAMO CARE SUSTAINABILITY PROGRAM
CRAMO CARE Cramo Care is our strategy for integrating sustainability step by step into all parts of the business and is based on Cramo’s values. Our ambition is to take the lead in advancing sustainability in the rental industry as well as meet the requirements of all stakeholders and internationally recognised standards.
SUSTAINABILITY EMBEDDED IN OUR STRATEGY
COMMITMENT AND PRINCIPLES
Code of Conduct and Business Ethics UN Global Compact
Supplier Code of Conduct ISO
STRATEGIC DRIVERS CUSTOMER CARE EMPLOYEE CARE VALUE ADDED
• Driving the sharing • Customer satisfaction • Employee satisfaction • Growth
economy • Health and safety • Health and safety • Risk management
• Shaping the industry • Resource efficiency • Skills development • Return on capital
• Stakeholder expectations • Business ethics • Diversity and equality • Skilled, committed
for more sustainable • Responsible suppliers employees
operations • Innovative corporate culture
• Resource and operational • Competitive edge
efficiency ENVIRONMENTAL CARE SOCIAL CARE
• Changing the operating • Resource efficiency • Local engagement
environment • Reduced environmental • Business ethics
• Increased transparency footprint
and more stringent ethics • Increased circularityCRAMO ONLINE SOCIAL MEDIA www.cramo.com www.facebook.com/cramogroup www.cramogroup.com www.twitter.com/cramogroup https://ecrent.cramo.com www.linkedin.com/company/cramo-group
CONTACTS Head of Communications, Media Investor Relations Marketing and Investors Relations Gunilla Hellström Merja Naumanen Mattias Rådström gunilla.hellstrom@cramo.com merja.naumanen@cramo.com mattias.radstrom@cramo.com
CRAMO GROUP MANAGEMENT TEAM
STANDING (left to right)
Martin Holmgren, SVP Fleet Management
Petra Schedin Stergel, SVP HRD
Leif Gustafsson, President and CEO
Peter Bäckström, EVP Scandinavia
Philip Isell Lind af Hageby, EVP Modular Space
Dirk Schlitzkus, EVP, Central Europe
Tatu Hauhio, EVP, Finland and Eastern Europe
SITTING (left to right)
Aku Rumpunen, CFO
Mattias Rådström, SVP, Communications, Marketing
and Investors Relations
http://bit.ly/2lDFetJAPPENDIX
Business overview
Sustainability
Why rent from Cramo
Depot network
PRODUCTS & SERVICES
Rental equipment
Modular SpaceSUSTAINABLE SOLUTIONS
“By providing users with easy access to a modern,
efficient fleet of machinery and modules, just for
the time they need them, Cramo helps customers
achieve their own sustainability targets while
helping to reduce overall resource use.”
Leif Gustafsson
President and CEO
http://bit.ly/2lDFetJHIGH LEVEL OF QUALITY
Cramo maintains a high level with respect to quality, environment and working environment matters, both internally and
in cooperation with customers. We not only provide a top range of quality products, but can also help toward
minimizing environmental impact and creating a better working environment at our customer’s work sites.
100% of our operations shall be covered by these certificates by the end of 2020.
Environmental and quality certified operations in Cramo
Germany
Sweden Norway Finland (Modular
Space)
ISO 9001
(quality) x x x x
ISO 14001
(environment) x x x x
x
OHSAS 18001 (work
environment) x x x*
x
* SCC (Sicherheits Certifikat Contractoren)OUR QUALITY WORK GIVES YOU ADVANTAGES
Expert depot personnel who give advice on
machine selection
The right machine in the right place at the right time
Testing of machinery and equipment prior to delivery
Calibrated control and measurement instruments
Modern inventory of machinery with
the latest technology
Regular servicing of the machinery
Machinery that has passed inspection
Rental insurance that provides extra security
Business support that presents
the current rental rate
Training of Cramo’s employees and customers
Customer surveys that capture customer views
Reporting system for discrepancies/improvementsTAKE PART IN OUR ENVIRONMENTAL WORK
Advice/tips for customers on environmental work
Machinery that meets environmental demands Comparison kWh/m2 (March 2008)
Documented environmental performance of machinery
Help with calculating emissions
Environmentally-adapted oils and fuels
Products for environmentally-safe handling
Help with waste disposal in customer projects
Site hut and module set-up with low energy consumption
Measurement of energy consumption between standard site
Extensive environmental work at Cramo’s rental depots:
hut (purple) with Cramo energy establishment (blue). It is
Environmental assessment of chemicals possible to make an energy saving of 35% with Cramo
and safe handling energy establishment.
Environmental assessment of the carriers
and suppliers
Energy effectiveness
Waste management Cramo’s work with environmental issues differ between markets and are furthest
advanced in the Nordic countries, where this work has become an evermore
important argument for customers choosing rental solutions from Cramo.TAKE ADVANTAGE OF OUR KNOWLEDGE OF THE
WORK ENVIRONMENT
Information about work requirements
Machinery that reduces strain on users
Training in aerial equipment, scaffolding and
forklift trucks for our customers
Machinery that reduces the risk of vibration
injuries
Fall protection to reduce the risk of accidents
Equipment that contributes to cleaner air
Sale of personal safety equipment
Site huts and modules providing a good
workplace environment
Help with solutions toward improving the work
Cramo’s work with work environmental issues differ between markets
environment
and are furthest advanced in the Nordic countries, where this work
Safety instruction for certain machines has become an evermore important argument for customers choosing
rental solutions from Cramo.WHY RENT FROM CRAMO The widest assortment Rental objects for every possible need. Capacity to deliver 230,000 modern pieces of equipment of high quality ensure a high degree of delivery. Always nearby 300 strategically positioned depots and sales offices. A long history and strong tradition Access to the collective competences from rental operations in 14 countries. Forerunner in the industry ISO-certified in the Nordic area. Committed to development We strive to develop new creative solutions, based on our extensive customer experiences.
DEPOT NETWORK A wide network of about 300 Cramo depots offering a wide range of equipment Our standard depots offer: All standard equipment Light construction equipment and smaller lifts Merchandise in the Cramo depot store The best customer service and efficient logistics Reliable equipment availability and flexible Delivery conditions Efficient logistics through a hub-structure
A WIDE RANGE OF RENTAL PRODUCTS
TOTAL RENTAL SOLUTIONS PROVIDER
3
2
1
Tools for drilling and grinding, dust
collectors and bolt driving
Material handling equipment, access
equipment and safety products
Compaction equipment, modular space solutions
and earth moving equipmentTOOLS Ground vibrators Concrete processing machines Electrical equipment Compressors Drying and heating equipment Pumps Screw/nail tools, chipping and hewing hammers Cutting machines, saws and welding equipment Grinding, milling and drilling machines Bending machines Measuring instruments Cleaning equipment
ACCESS EQUIPMENT Minicranes Telescopic handlers Vertical mast lifts Scissor lifts Articulated boom lifts Telescopic boom lifts Crawler-mounted lifts Trailer-mounted lifts Truck-mounted lifts Building hoists Scaffolding Work platforms Forklift trucks Warehouse trucks
CONSTRUCTION EQUIPMENT Dumpers Rollers Excavators Skidsteer loaders Compact loaders Wheel loaders Compressors Generators Drilling rigs Demolition robots
BUILDING SITE FACILITIES
PRODUCTS
Site huts
Trailers
Toilets
Containers
BUILDING SITE PREMISES FOR
Accommodation
Project offices
Changing rooms, hygiene
StorageMODULAR SPACE – FOR NON-CONSTRUCTION USE • Quick assembly and flexible solutions • Premises on site • An alternative to long-time investments • Permanent standards APPLICATIONS • Offices • Schools • Daycare/pre-school • Accommodation • Events • Shops
SERVICES
AND
SOLUTIONS
SERVICES AND
SOLUTIONS SUPPORTING
OUR
SUPPORTING
OUR CUSTOMER’S
CUSTOMER’S
BUSINESS BUSINESSSERVICES
Modular Space Transportation Temporary Cramo Rental
Cramo rental
External training insurance Offered on all
Services electricity Insurance
Cramo markets
Coaching and training
All services that might to obtain new Protection against
be needed during the Complete knowledge about new unexpected
Modular Space life transportation products and All services related to costs for
cycle service for equipment technologies temporary electricity unforeseen events
Operators 24/7 technical Construction site Repair and Scaffolding & QSE servcies
support services maintenance rack/pinion
hoist services
Extensive services for Recommendations
Experienced 24/7 access to Repair and erection and and instructions for
staff for rented technical expertise Full range of services maintenance dismounting of how to operate
equipment from Cramo for construction sites service for equipment scaffolding based on QSE
Heating services Moisture damage Construction site Air quality Trading services
Other services and humidity logistics management
available on some control services
Cramo markets
Extensive services
for managing air
Extensive services for Extensive services quality on the
heating buildings or for humidity damage Planning and sourcing construction site or in Trading services for
construction sites prevention and repair for smooth operations the workplace outdated equipmentMODULAR SPACE SERVICES Services related to assembly, disassembly and usage of Modular Space All services related to modular space from one provider. Components: Dimensioning of premises Drawings and documents Site preparations and foundation work Transport and logistics Assembly and disassembly Electricity, IT, water and sewage Furniture, equipment and installations
TRANSPORT SERVICES Transportation of equipment rented from Cramo or your own. No need to set aside resources for transportation. No need for your own fleet. Components: Basic, normal or express delivery Efficient allocation of rental equipment Logistics centre for services on customer’s construction site
EXTERNAL TRAINING (CRAMO SCHOOL) Keeps you updated on new products technologies and regulations. Examples on available courses Safety at the construction site Operation of forklifts and dumpers Assembly of scaffolding Safe usage of access equipment Dust-free workplace
TEMPORARY ELECTRICITY All services related to temporary electricity from one provider. Offering safe planning and installation of electricity with certified staff Components Mapping customer requirements Subscription of electricity connection Complete CAD-based electricity plan Lighting plans and services Electricity installation and connections 24/7 service Power calculations Electricity usage monitoring
CRAMO RENTAL INSURANCE Extra security when renting equipment from Cramo. Offering protection against unexpected costs for unforeseen events such as break-ins, fire, water damage or equipment breakdowns.
SOLUTIONS Cramo Safety Clean House Cramo Smart Energy
Solutions for managing air quality Solutions for saving energy with
Safety solutions for on construction sites and working smart, efficient assembly of
construction sites environments Modular Space
Dry Construction Cramo Security Crew Camp Solutions
Solutions for heating and humidity
control on construction sites Security and access control
or the set-up of construction sites solutions for construction sites Total accommodation solutionsCRAMO SAFETY Comprehensive safety solutions for construction sites. Fewer accidents and less risky situations on construction sites. Services and products: Training via the Cramo School Personal fall equipment Temporary edge protection Mounting and dismounting of safety equipment
CLEAN HOUSE Solution for managing buildings affected by water or excessive heat. More comfortable working conditions and improved air quality. Products and services: Planning and sizing of dust control Installations Dust measurements Seal measurements Indoor air quality measurements Other indoor air services
CRAMO SMART ENERGY Saving energy with up to 50% with smart, efficient assembly of modular space with insulation and low-energy lighting. Studies show that approximately 70% of the energy consumption at a construction site relates to the heating of site huts, and lighting equipment. Products and services: Exterior insulation between the huts Energy efficient site huts, C60 Low energy light fittings in exterior and interior Lighting Insulated storage containers Measuring and follow-up
DRY CONSTRUCTION Combines training, products and counseling to avoid damage and/or delays due to weather conditions during the building process. A healthy climate at the construction site gives healthier workers and tenants. Cramo offers training and products such as weather protection, halls, heaters, dryers and dehumidifiers. And finally follow-up and documentation.
CRAMO SECURITY Total solutions for security and access control for construction sites. A healthy climate at the construction site gives healthier workers and tenants. Products and services: Smart identification card and access device (e.g. ID06) Gates and fences Cameras Security service (guards) Container safe storages Training (Cramo School)
CREW CAMP SOLUTIONS Temporary accommodation and premises for longer projects. Especially for projects not located near populated areas. Accommodation customized based on customer needs with high living standards and premises close to the construction site. Products and services: Accommodation, offices, canteens and recreational facilities with modular space. Planning, assembly and disassembly.
CUSTOMER SUPPORT
Cramo Shop Cramo Bonus Work Instructions
A shop-in-shop concept that offers a selected range of consumables,
accessories, spare parts, protection equipment to customers visiting
the depots.
Loyalty program for regular A service that gives customers
customers giving bonus points, information on safe, secure
offers and information on handling of tools and
products and services. equipment. (PSI)
Cramo Business General
Support Customer
Support
Web-based services such Consultation on site, electronic
as monitoring orders, invoicing, call centre services
invoices and statistics. etc.You can also read
