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Results second quarter and first half 2002

Results second quarter and first half 2002 . By Harrie Noy, Chairman Executive Board Amsterdam, The Netherlands, August 13, 2002. ARCADIS continues profit growth half year 2002 Net income from operations: +8% . Gross revenue Growth +3% Operational margin Operating income + 13%

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Results second quarter and first half 2002

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  1. Results second quarter and first half 2002 By Harrie Noy, Chairman Executive Board Amsterdam, The Netherlands, August 13, 2002

  2. ARCADIS continues profit growth half year 2002 Net income from operations: +8% • Gross revenue • Growth +3% • Operational margin • Operating income + 13% • Margin rises from 6.3% to 7.2% • Earnings per share • Increase 8% to € 0.52 Results satisfactory given economy

  3. Income 2nd quarter 2002: € 6.7 mln Strong effect from exchange rate declines (real, dollar) Gross revenue Operating income Net income from operations * Net income f/ operations per share Net income from operations excluding exchange rate effects *) After goodwill: EUR 0.1 mln 2002 202 12.6 6.7 0.33 2001 201 11.3 6.3 0.31 Growth 0% 11% 7% 11% 11%

  4. Income 1st half 2002: € 10.6 mln Gross revenue Operating income Net income from operations * Net income f/ operations per share Net income from operations excluding exchange rate effects *) After goodwill: EUR 0.1 mln 2002 395 20.3 10.6 0.52 2001 382 18.0 9.9 0.49 Growth 3% 13% 8% 8% 10%

  5. Sources of growth 2002 Gross revenue Second quarter 0% 4% -1% -3% 5% First half year 3% 5% -1% -1% 6% • Total • Autonomous • Acquisitions/divestments • Exchange rates • - Autonomous excl. effect real estate valuations

  6. Important developments • Autonomous growth at a good level • Growth mainly in Latin-America, Spain, Belgium • Infrastructure strong around the world • Environment continues growth in U.S. • Gross revenues U.S. slightly lower • Integration Dutch operations positive effects

  7. Development operating income In euro mln 8% 4% 24% 11% 13%

  8. Development net income and EPS (excl. extraordinary items) In mln euro In euro 0.90 0.75 0.60 0.52 0.45 0.49 0.44 0.30 0.38 0.34 0.15 0.00 Net income +21% +13% +8% +5% +11%

  9. Balance sheet • Healthy balance sheet • Equity somewhat lower resulting from exchange rate effects • Temporary pressure solvency through purchase of own shares • Low leverage limits interest burden • Enough room for acquisitions also after French takeover

  10. Gross revenue: Market segments half year 2002

  11. Infrastructure +13% • Netherlands: besides high speed and Betuwelijn, also Hanzelijn • Start ring Antwerp • Large assignments Spain related to investment program • Growth U.S. despite some market pressure • Energy projects Brazil provide strong growth • Position rail infra Chili HSL projects Spain

  12. Environment +2% • Autonomous growth 4% • Fully attributable to U.S. • U.S. GRIP™ projects for DOD • Brazil growth through Hydro Ambiente • Environment as entry point for expansion services to industry

  13. Buildings –8% • Decline in U.S. and Netherlands • Continued growth in Spain and Belgium • Netherlands: decline office market + recudtion less profitable work • U.S. almost stable vs. Q4 2001 • Two large assignments U.S. automotive industry Rijksmuseum Amsterdam

  14. Communications –16% • Decline from real estate valuation and telecom • Telecom stable vs. Q4 2001 • Focus telecom on higher margin projects: • First mile Deventer • Antenna’s on rail portals • GIS-market continues growth (+22%)

  15. Gross revenue: Regions

  16. Acquisitions • Spain (in Q2, 2002) • Casta, gross revenue EUR 4 mln • Manage senior citizen housing and services • Growth market in Spain • France (after Q2, 2002) • FCI, gross revenue EUR 60 mln; 800 employees • 80% infrastructure; 20% environment • Home market position in France (top 5) Positive effect on earnings per share

  17. Outlook market • Infrastructure • Market demand stays at good level • Environment • Opportunities for growth in U.S. • Revenue gets long-term character through GRIPTM • Buildings • Better order book U.S. • Market recovery depends on economy • Communications • No recovery in telecom before 2004 • Result from abolishment real estate tax limited

  18. Outlook 2002 • Lower autonomous growth in second half • Insecurity economic recovery • Earlier revenue decline buildings/communications • Exchange rates: negative translation effect • Compensation from contribution acquisitions • Further margin improvement • Depending on economic recovery net income 5-10% higher • Barring: unforeseen circumstances

  19. infrastructure, buildings, environment, communications Part of a bigger picture

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