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Infrastructure buildings environment communications Results second quarter and first half 2002 By Harrie Noy, Chairman Executive Board Amsterdam, The Netherlands,

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Presentation on theme: "Infrastructure buildings environment communications Results second quarter and first half 2002 By Harrie Noy, Chairman Executive Board Amsterdam, The Netherlands,"— Presentation transcript:

1 infrastructure buildings environment communications 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 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 Growth 0% 11% 7% 11% Strong effect from exchange rate declines (real, dollar)

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 Growth 3% 13% 8% 10%

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

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 11% 8%4%24% 13%

8 Development net income and EPS (excl. extraordinary items) +5%+11% +21%+13%+8% In euro In mln euro Net income

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. Q Two large assignments U.S. automotive industry Rijksmuseum Amsterdam

14 Communications –16% Decline from real estate valuation and telecom Telecom stable vs. Q Focus telecom on higher margin projects: First mile Deventer Antennas 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 GRIP TM 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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