Geen diatitel

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Imtech
Shared Success
Half-year Results 2004 17 August 2004 René van
der Bruggen
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Agenda
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Highlights first half 2004

• EBITA 34.1 million euro ( 8.3)
• Net result before amortisation of goodwill 21.7
  million euro ( 7.4)
• Turnover 779 million euro ( 6.4)
• Order portfolio on target at 2.4 billion euro (
  2.2)
• Benelux Belgium and Luxembourg on target,
  reduced profit in the Netherlands
• Germany, UK and Spain positive developments
• ICT Technology on balance profit increase

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Profile Imtech

• European technical service provider in the field
  of
• electrical engineering
• information and communication technology
• mechanical engineering
• Around 13,000 employees, turnover more than 2
  billion euro on annual base
• Measurable added-value for customers through
• high quality total solutions
• multi-disciplinary approach by offering
  one-stop-shopping
• covering the entire range from advice and design
  to construction, maintenance and management
• Shared Success

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Turnover per market sector
Buildings
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EBITA
Amounts in million euro
8.3 compared to H1 2003
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Order portfolio
Amounts in million euro
2.2 compared to H1 2003
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Turnover and production
Amounts in million euro
6.4 compared to H1 2003
6.7 compared to H1 2003
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Explanation of clusters
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Benelux
Amounts in million euro

• The Netherlands unfavourable market conditions
  in buildings (the West) industry and
  infrastructure pressure on margins new
  opportunity-rich initiatives
• Belgium and Luxembourg on target due to
  expansion of the European Union, financial and
  pharmaceutical sector
• Large maintenance contracts acquired such as TPG,
  Fortis, ING

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Example Benelux

• Technology five tunnels Betuwelijn
• (in combination)
• Scope of the project
• Project management, engineering
• and complete realisation
• Integration of control, security
• and communication
• Innovative sprinkler and
• fire extinguishing technology
• Permanent detection and surveillance
• Order size 73 million euro

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Example Benelux

• Technical maintenance and supervision
• Belgacom Towers, Brussels
• Scope of the project
• Five year multi-disciplinary maintenance contract
  (total guarantee, preventive and corrective
  maintenance) for 180,000 m²
• Additional services energy maintenance and
  bacteriological water research
• Order size 2.5 million euro

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Germany / UK / Spain
Amounts in million euro

• Germany strong market position despite
  reluctancy in investments Imtech acquired large
  orders successful in Eastern Europe robust
  growth in Energy Contracting
• UK growth in retail, education and care growth
  Design Build successful prequalifications in
  water purification
• Spain reasonably on target large orders in the
  Madrid region

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Example Germany

• Leisure centre Tropical Island in
• former cargo lifter assembly hall, near
• Berlin
• Scope of the project
• 107 meters high, 5.2 million m³, 66,000 m²
• Construction of artificial lake and 200 metre
  long sandy beach
• Total technology air, climate, energy,
  electrical engineering, fire protection
• Heat-shield
• Order size 8 million euro

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Example UK

• Redevelopment Broadgate Centre, London
• Scope of the project
• Redevelopment and construction of 65,000 m² new
  offices, shops, services and restaurants on
  behalf of British Land
• Engineering, all electrical solutions, heating,
  ventilation and air conditioning
• Object dart 100,000 LEDs in different colours
  (20 x 20 meter)
• Order size 20 million euro

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ICT Technology
Amounts in million euro

• ICT persistent pressure on IT-market,
  communications solutions and consultancy positive
• Technology process, access and fire control
  market positive mixed picture in parking market
• Maritime additional assignments foreign Marines
  platform automation and luxury yachts positive
  declining civil projects market
• Telecom follow-on orders in UMTS growth in
  market broadband access to fixed networks
  (ADSL/Ethernet)

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Example ICT Technology

• Complete technology on board of luxury
• yacht Millennium 140
• Scope of the project
• Wharf Mulder, Friesland
• Over 42 metre long
• Integrated ships bridge platform automation,
  navigation, communication, monitoring, control,
  alarm
• On-board power management, electrical
  engineering, heating, ventilation and air
  conditioning
• Order size 2 million euro

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Example ICT Technology

• Renewal access technology Dutch
• Ministry for Housing, Regional
• Development and the Environment
• Scope of the project
• High capacity passage (3,000 employees, hundreds
  of visitors)
• Automatic registration and passage
• Safety protocol
• Order size about 1 million euro

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Example ICT Technology

• IP telephony University of Leiden, the
• Netherlands
• Scope of the project
• Largest migration of traditional telephony to IP
  telephony in the Netherlands
• 6,000 telephones
• Advantages lower costs, flexible maintenance
  concept, link with data
• Contract for education and maintenance for eight
  years
• Order size 3 million euro

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Turnover, EBITA and margin per cluster
Amounts in million euro
EBITA in first half 2003
EBITA in first half 2004
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Key Figures
Amounts in million euro
First half
2004
2003
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Key Figures
Amounts in million euro
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Forecast
On the basis of the developments in the first
half of 2004 and according to its current views
the Board of Management maintains its forecast of
March 2004 In 2004 EBITA will continue to
increase
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Agenda
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Strategy

• Maintaining organic growth
• Acquiring high-quality services with appropriate
  margin
• information and communication technology
• design and consultancy
• technical maintenance and
• management
• Further European expansion in the UK, Spain and
  Eastern Europe

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Several small acquisitions

• Navision-activities of Level Automation
  ERP-services Imtech Microsoft
• Certified Business Partner
• IMServ a company specialised in energy metering
  previously owned by
• Invensys
• TLM Noord a specialist in infrastructure
  automation in the field of water
• purification
• Total number of employees 30

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Acquisition BrightHouse

• Intended take-over BrightHouse one of the
  leading Dutch companies in the field of
  management related to complex strategic projects
  in which information technology plays a dominant
  role
• Leading project management firm, 25 experienced
  managers
• Turnover approximately 5 million euro with a
  high EBITA-margin
• Synergy BrightHouse Bostec Imtech ICT
  Consultancy
• Active in complementary segments in ICT
  consultancy and ICT project
• management
• Project management activity with high-added
  value
• Additional possibilities Imtech ICT

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New initiativeEastern Europe

• Expansion of Imtechs activities in Eastern
  Europe
• Working from a strong position in Germany
• in co-operation with existing customers
• Own small establishments in Warsaw and
• Prague
• Export of high-value marine solutions
• Export of process technology
• Examples BAT, Selgros, Polish Marine, Oltchim

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New initiatives
Specific focus on product/market combinations by
clustering competencies electrical and
mechanical engineering, and ICT

• Examples
•  Care Cure health care
•  Security integral safety
•  Food Feed from
• board to web
• Energy Contracting
• energy market

E
M
E
M
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New initiative Imtech Care Cure

• Technology partner in care sector own
• label
•  One-stop-shopping ICT, electrical
• mechanical engineering and system
• technology
• Single point of contact for customers
• Example digitalisation X-ray archive
• in several hospitals
• Participant in Het Ziekenhuis Consortium
• (HZC) option menu for outsourcing of
• technology, general and building
• services or (partial) acquisition of the
• exploitation

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New initiative Imtech Security

•  Technology partner for integral
• safety own label
•  Specialist in Security Management
•  Complete service services
• prevention and detection of burglary,
• (fire) protection, CCTV, access
• control, ICT networks
•  Example security management
• switch stations Vodafone

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New initiative Imtech Food Feed

•  Technology partner for complete
• Food Feed chain own label
•  Specialist in Tracking and Tracing
•  Total control of all logistic processes from
• board to web
• Integration of quality, safety and
• environment
•  Example Frico Cheese Management
• System

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New initiative Energy Contracting

• Lower costs of energy by taking over
• the total supply of energy
• Consultancy Engineering
• Implementation Realisation
• Operations Maintenance
• Very successful in Germany (total contract
• value more than 100 million euro), knowledge
• also available in the Benelux, other
• countries will follow
• Examples Caterpillar, Deutsche
• Bahn, Vodafone

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Summary

• First half of 2004 increase of turnover and
  profit
• Full year 2004 maintaining forecast March 2004
  In 2004 EBITA
• will continue to increase
• Filling-in strategy
• Several small acquisitions
• Intended acquisition of BrightHouse
• Growth of Imtech in Eastern Europe
• New initiatives in specific product/market
  combinations