ARCADIS NV

1
Infrastructure, environment, facilities
Results first half 2006
Harrie Noy, CEO Analyst meeting, August 9, 2006,
Antwerp, Belgium
2
Strong results first half 2006

• Gross revenue 27 higher, 8 organic increase
• Strong organic growth in all market segments
• Margin improves considerably 8.6 versus 7.0 in
  H1-2005
• Net income from operations increased 60
• Over 80 million in new GRiP contracts
• Integration BBL is progressing well

Strategy to enhance growth is yielding results
3
Income second quarter 2006 11.8 million
Gross revenue Ebita Ebita recurring Net income
Net income per share 2) Net income from
operations1) Ditto per share 1,2) 1) Before
amortization and non-operational items 2) In
2006 based on 20.2 million shares outstanding
(2005 20.3 million)
_ ? _ 26 27 47 18 18 60 60
2005 233 15.0 13.0 9.0 0.44 7.4 0.36
2006 293 19.2 19.2 10.6 0.52 11.8 0.58
4
Income first half 2006 21.2 million
Gross revenue Ebita Ebita recurring Net
income Net income per share 2) Net income from
operations 1) Ditto per share 1,2) 1) Before
amortization and non-operational items 2) In
2006 based on 20.2 million shares outstanding
(2005 20.3 million)
_ ? _ 27 39 51 35 35 60 60
2005 457 25.4 23.4 14.5 0.71 13.3 0.65
2006 581 35.3 35.3 19.6 0.97 21.2 1.05
5
Dutch market recovery better than expected

• After years of decline, organic growth of 9
• Facility management contract DSM/Sabic
  contributes to growth
• Also growth in infrastructure 6 organic
• A lot of investment in rail infrastructure
  renewal/maintenance
• More PPP initiatives Zuidas, Coentunnel,
  Kazerne Utrecht
• More outsourcing Ministery Public Works
  broadening A50, A12, A28
• A lot of demand for project management and cost
  consultancy
• Acquisition In Situ Technieken strengthens
  environmental position

6
Development Ebita first half
In millions
Margin
10
8.6
7.2
7.0
6.3
5.9
5.2
5
0
11
-/-27
15
48
Increase
39
13
) Adjusted for IFRS
7
Recurring EBITA grows considerably (51)
Organic increase mainly from U.S., Brazil and
Netherlands
8
Net income from operations and EPS H-1
Earnings per share (in )
) Adjusted for IFRS
9
The service areas Infrastructure Environment
Facilities
10
Organic growth in all service areas
11
Infrastructure -/-2 (6)

• Revenue decline caused by last years divestments
  
• Continued very strong growth in Brazil mining
  and energy
• Strong growth in U.S., especially transportation
  and tunnels
• Market recovery Netherlands, healthy growth in
  France
• High backlog in Poland procedures impact
  revenues
• PPP initiatives yield work

Rouen award winning bridge design
12
Environment 96 (10)

• Revenue doubled, mainly through acquisition BBL
  Greystone
• Strong organic growth in U.S. GRiP and
  corporate consulting
• Backlog GRiP to 300 million at end of Q2
• U.K. and Netherlands strongest growth in Europe
• European environmental team for extra growth
• In Brazil and Chile large demand for mining
  consultancy

Sediment remediation by BBL
13
Facilities 29 (12)

• Acquisition AYH (mid 2005) strong contributor to
  growth
• Arsenal stadium (project management AYH) in U.K.
  completed
• Facility management DSM/Sabic drives Dutch growth
• Good investment climate in Belgium, France,
  Brazil
• Reduction poorly performing detailed engineering
  Germany

DSM contract yields growth in FM
14
In 2000 we revised our strategy International
expansion in the nineties had been
successful But ARCADIS performance and stock
price were lagging behind
15
Strategy focused on value creation

• Increase organic growth in existing core business
• Synergy based on specialized expertise client
  relationships
• Improve margins
• Reducing or outsourcing low margin business
• Focusing on services with higher added value
• Speed up strategy by acquisitions
• Focus on strengthening home market positions

Goal was more focus and higher earnings growth
16
Unlocking the hidden value of
ARCADIS
17
Focus on 3 market segments

2000 revenues 800 mln
2006 revenues 1,200 mln
18
Strong shift in our portfolio

• Acquisitions
• Expansion Europe
• Infra US
• Environment US
• Management services
• Home market positions
• Total
• Divestments
• Non core business NL
• Facilities
• Spain
• Donor funded market
• Total

FCI (France), Profil (Poland) RMA, FPS, LNW,
BHR, Diversity Greystone, BBL Homola, PRC, AYH,
CDG Belgium, Brazil, Netherlands, UK Part of
contracting, Kafi/Mandaat Detailed engineering
(US) 50 interest in Grupo EP Renardet/Sauti
(France)
GR in 82 74 154 80 24 414 53 15 68 11 147
In 05 154 36 6 196 15 68 11 94
19
Organic growth increased
Target organic growth
Target total growth
Currency -4 -2 -3 -3
-3 1 3 Divestments 1
- 2 0 1 -0 -
20
In facilities we shifted to management
servicesProject program management and
facility management

• We want to focus on higher added value services
• Divestment detailed engineering US
• Acquisition of management services
• Homola, PRC, AYH, CDG
• Also facility management
• Joint venture with Aqumen
• Focus on NL/Europe
• Two major contracts for 4 years

21
Our margin improved considerably
Excluding non-recurring items
Target
2003
2004
2005
22
We generated 266 million cash in 5 years, also
by reducing working capital
In million
23
Our balance sheet remains strong Ample room for
further investments
1,2
3
2004
2005
2003
target
1 basis average quarterly balance sheets
dividend separated at moment of payment
3 excluding non-recurring effects
2 basis net interest bearing debt
24
Geographic distribution has changed
2000
2006
25
We sharpened our positioning

• Less project focus, more client focus
• Less technical, more value creation
• Pro-active, agile and result driven
• Innovative and creative
• More business oriented and
• higher in the value chain Imagine the result

26
We unlocked some hidden valueStock outperformed
market and all peers
27
Liquidity increased,
broader shareholder base
In millions of shares
In million
12
10
8
6
4
2
(6 months)
Number of shares
28

• We are well positioned !
• Global trends favorable to ARCADIS
• Present market conditions solid
• Strategy implies choices for growth
• Ambitious goals for market segments

29
Strategy three international growth platforms
Infrastructure growth target 4 6 Expand strong
local positions Additional growth in rail
infrastructure and bridges/tunnels Environment
growth target 8 12 Expand remediation services
to be global leader Leverage relationships with
multinational clients Add front-end consultancy
services Facilities growth target 5 10 Become
benchmark world-wide project management firm
Expansion in facility management
30
We continue with acquisitions

• At a somewhat lower pace in 2006
• Integration BBL has first priority
• Strengthening home market positions
• U.S., Europe and Brazil
• Strengthening Growth Platforms
• Rail, tunnels/bridges, remediation, project
  management
• Geographical expansion
• Asia
• Europe Rumania, Northern Italy
• Look for larger opportunities

31
Outlook
32
Outlook per service area

• Infrastructure
• Growing economy drives Dutch market recovery
• In Europe more private investment through PPP
  initiatives
• U.S. SAFETEA and New Orleans investment Brazil
  high
• Environment
• GRiP offers room for further growth in the U.S.
• Synergy with BBL offers opportunities with
  multinationals
• In Europe and Latin America increase services to
  industry
• Facilities
• Facility management benefits from outsourcing
  trend
• Aim at position with international real estate
  investors

33
Outlook for full year 2006 positive

• ARCADIS is well positioned in markets that offer
  opportunity
• Synergy contributes to growth
• Continued focus on higher value added activities
• Integration BBL (client focussed business model)
  priority for 2006
• Integration BBL and SOX 404 3 to 4 million out
  of pocket costs
• Acquisition policy continued, but at a lower pace
  
• Expected increase net income from operations by
  30 to 35
• (barring unforeseen circumstances)

ARCADIS is well on track
34
Thank you