Imtech:

1
Imtech
Shared Success
Annual figures 2004 8 March 2005 René van der
Bruggen
2
Highlights 2004

• 2004 good year with complicated market
  conditions
• EBITA 5.8 (78.1 million euro)
• Turnover - 1.5 (2,067 million euro)
• Order portfolio 1.2 (2,110 million euro)
• Net profit 3.2 (45.4 million euro)
• Exceptional charge violation Dutch Competition
  Act
• 8.0 million euro
• Imtech well positioned for further growth in case
  of improving markets

Before exceptional charge related to violation
of the Dutch Competition Act
3
Agenda
1. Well positioned for growth
2. Annual figures 2004
3. IFRS
4. Outlook
4
The track-record of Imtech
Amounts in million euro
CAGR 16 of which organic 6
EBITA
Organic growth Acquisitions
Ð 0
Average market conditions
Market complicated
Operational EBITA, excluding reorganisation
costs
Part 1
5
Imtech well positioned for growth

• The Netherlands
• 2003/2004 competition/margin pressure
• Decline buildings and infra market
• New competitions through forward integration
• 2005/2006 chances for growth
• Low-point of market seems to be reached,
  investments are improving
• Organisation adjusted to market conditions
• New competence centers Care Cure, Security,
  Energy Contracting, etc.

Part 1
6
Imtech well positioned for growth

• Belgium/Luxembourg
• 2003/2004 proven track-record
• Strong position (top-3) in Belgium and Luxembourg
• Position in maintenance and supervision
  strengthened
• 2005/2006 chances for growth
• Good starting position, strong ties with existing
  customers
• Improving investments in among others buildings,
  hotels, pharmacy, finance

Part 1
7
Imtech well positioned for growth

• Germany
• 2003/2004 proven track-record in difficult
  market conditions
• Integration companies completed definitely,
  market leader in buildings and industry
• New multi-disciplinary formula is successful
• 2005/2006 chances for further growth
• Strengthening industrial position
• Energy Contracting
• Accompanying existing clients into countries in
  Eastern Europe

Part 1
8
Imtech well positioned for growth

• UK
• 2003/2004 successful acquisition Meica, growth
  under umbrella Imtech
• Reputable multi-disciplinary company in Greater
  London (top-10)
• Strong national player (top-5) in water and waste
  water treatment
• 2005/2006 chances for further growth
• Continuation market positions
• Acquisitions
• Outside current region
• In market of water and waste water treatment

Part 1
9
Imtech well positioned for growth

• Spain
• 2003/2004 structuring organisation
• Active in four regions Madrid, Barcelona,
  Valladolid, Valencia
• 2005/2006 chances for growth
• Continuous organic growth
• Focus on strengthening position through
  acquisitions
• Industrial Maintenance
• Electrical engineering

Part 1
10
Imtech well positioned for growth

• ICT Technology ICT and Telecoms
• 2003/2004 difficult market conditions
• IT organisation adjusted, strengthened through
  acquisitions
• ICT Infrastructure ongoing strong position
• Telecoms adjusting organisation to market
  conditions, European player
• 2005/2006 chances for growth
• Stronger Imtech ICT in improving market
• European expansion ICT
• Imtech Telecom triple play, IP-technology

Part 1
11
Imtech well positioned for growth

• ICT Technology Technology and Maritime
• 2003/2004 good performance in complicated
  market
• Technology increasing focus for security and
  process technology
• Maritime strong internationalisation and growth
• 2005/2006 chances for further growth
• Technology further growth through investments
  in security
• Maritime becoming a world player

Part 1
12
Historical outline margin
Average market conditions Markets
complicated Improving markets
Part 1
13
Acquisitions in 2004
Turnover on annual basis

• Eniac (IBM Software Partner) turnover 14 million
  euro
• BrightHouse (ICT-projectmanagement) turnover 5
  million euro
• HST (HDW-Hagenuk Schiffstechnik, maritime
  technology)
• turnover 36 million euro
• Smaller acquisitions, total turnover 1.4 million
  euro
• Total purchase price 38.6 million euro
• Total number of employees 300

Part 1
14
Strategy Full service infive markets
Telecoms
Buildings
Infra
Industry
Marine
15
Strategy

• Maintaining organic growth
• Acquiring high-quality
• services with appropriate
• margin
• information- and
• communication technology
• design and consultancy
• technical maintenance and
• management
• European expansion

Countries Easten Europe
Part 1
16
Strategy Actions

• Strong focus on growth sectors energy
  management, education, care and safety
• European expansion in ICT
• Strengthening position in the UK and Spain
• Expanding activities in Eastern Europe countries,
  proceeding from existing market positions
• Internationalisation in infra and maritime market

Part 1
17
Goals

• Margin approximately 6, under normal market
  conditions
• 5 Benelux (around 35 of turnover)
• 4 Germany, UK and Spain (around 40 of
  turnover)
• 10 ICT Technology (around 25 of turnover)
• Turnover around 3 billion euro in 2008,
  combination of both organic growth and through
  acquisitions
• Strong market positions (top-3) in for Imtech
  relevant countries

Part 1
18
Agenda
1. Well positioned for growth
2. Annual figures 2004
3. IFRS
4. Outlook
19
Amounts in million euro
EBITA
5.8 of which organic 2.6
Part 2
20
Amounts in million euro
Turnover
-1.5
Part 2
21
Turnover, EBITA and margin per cluster
Amounts in million euro
Turnover in 2004
EBITA in 2004
Part 2
22
Amounts in million euro
Order portfolio
1.2 compared to 31-12-2003
Part 2
23
Order portfolio per cluster
Amounts in million euro
Per 31-12-2004
Per 31-12-2003
Part 2
24
Turnover per market segment
2003
2004
Part 2
25
Turnover per technology
2003
2003
2004
Part 2
26
Amounts in million euro
Key Figures
Before exceptional charge related to violation
of the Dutch Competition Act
Part 2
27
Amounts in million euro
Key Figures
Part 2
28
Exceptional charge violation Dutch Competition Act

• Exceptional charge 8.0 million euro for violation
  of Dutch Competition Act in the period before end
  2001 by some Dutch subsidiaries
• Voluntary co-operation with NMa (Dutch
  Competition Authority) internal investigation
  carried out, findings presented to NMa
• Appropriate measures taken
• To prevent competition restricting arrangements
• Business Principles sharpened

Part 2
29
Highlights 2004

• Eco electricity for province Burgenland in
  Austria
• Scope 31 million euro
• Own innovative design
• Idea, engineering,
• projectmanagement,
• complete technology
• 60 industrial wood residue
• 40 natural wood residue

Part 2
30
Highlights 2004

• Energy Contracting Infineon Munich
• Scope 80 million euro
• Outsourcing complete technical infrastructure
  design, application, company costs for all energy
  supply
• Fixed periodical payment by customer
• Energy Contracting for 15 years
• Largest project in Germany in this field

Part 2
31
Highlights 2004

• Public Private Partnership Montaigne Lyceum, The
  Hague
• Scope 17 million euro
• TalentGroep Strukton, ISS Services and Imtech
• First PPP-project (Public Private
• Partnership) in education market
• in the Netherlands
• In co-operation with several
• ministries and knowledge center PPP
• 30-year contract based on Design,
• Build, Finance and Maintain (DBFM)

Part 2
32
Highlights 2004

• Maintenance contract Governmental Center The
  Hague
• Scope 5 million euro
• Parliament building, almost
• all ministries, several
• governmental buildings
• European tender
• Maintenance
• Term 4.5 years with 4 years
• optional

Part 2
33
Highlights 2004

• Technology in Solaris Office Building,
• Madrid
• Scope 2 million euro
• Ultramodern medium-sized building
• Complete HVAC (Heating, Ventilation
• Air Conditioning)
• Hi-Tech Building Management
• System

Part 2
34
Highlights 2004

• Technology on board Yacht Carrier
• Scope 6 million euro
• Transport ship for luxury yachts from
• Caribbean to Mediterranean Sea
• High-speed electrical propulsion
• 50 faster than normal
• Platform automation with
• automated ships bridge
• Build at Yantai Raffles
• Shipyard China

Part 2
35
Highlights 2004

• Supervision contract in waste water treatment
• DWR Cymru Welsh Water
• Scope 300 million euro
• Outsourcing management and
• upgrading complete
• technology
• 10-year contract
• 850 installations for waste water
• treatment
• 1.2 million households,
• 110,000 companies

Part 2
36
Amounts in million euro
Consequences of changing to IFRS 2004

Part 3
37
Outlook

• Well positioned for further growth
• Imtech can face the future with confidence
•  
• According to current views, the Board of
  Management expects, in case of improving market
  conditions, operating results over 2005 will
  continue to increase

Part 4
38
Imtech
Shared Success
Annual figures 2004 8 March 2005 René van der
Bruggen