ARCADIS NV

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Infrastructure, environment, facilities
Results Third Quarter 2006
Harrie Noy, CEO Analyst Conference Call,
November 15, 2006
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Excellent third quarter 2006

• Gross revenue 32 higher, strong organic growth
  at 12
• Net income from operations 63 higher
• Strong results across the board, geographic and
  per service area
• Expected increase net income from operations
  raised to 40 to 45
• Margin considerably higher at 9.6 compared to
  8.0 last year
• Target margin increased to 10 (was 8)

ARCADIS is now operating higher in the value
chain
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Income third quarter 2006 12.3 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 20.2 million)
_ ? _ 32 50 50 70 70 63 63
2005 236 13.1 13.1 6.3 0.31 7.5 0.37
2006 311 19.6 19.6 10.7 0.53 12.3 0.61
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Income first nine months 2006 33.5 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 20.2 million)
_ ? _ 29 43 51 46 46 61 61
2005 692 38.5 36.4 20.8 1.03 20.8 1.02
2006 892 54.9 54.9 30.3 1.50 33.5 1.65
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Main developmentsFigures refer to first nine
months 2006

• Strong organic growth in the Netherlands gt10
• Considerable contribution from facility
  management contract DSM/Sabic
• Significant investment in rail infrastructure
  renewal/maintenance
• More PPP initiatives outsourcing by Ministry
  Public Works
• Strong demand for project management and cost
  consultancy
• Continued growth in the U.S. and Brazil
• Organically in U.S. 12 in Brazil gt20
• Strong contributions from recent acquisitions
• Especially BBL (U.S.) and AYH (U.K.)
• After delays, start up of major infrastructure
  projects in Poland
• Integration of BBL is progressing well

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Growth accelerates
33
Currency -3 1
5 1 -1
2 Selling prices 1 -0
0 0 0 0
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Considerable growth of EbitaFirst nine months
51 on recurring basis
In million
38.5
36.4
2
35
14
54.9
Organic increase mainly from U.S., Brazil and
Netherlands
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Acquisitions to strengthen portfolio

• Acquisitions 2006
• Environment NL
• Water Germany
• Management services UK
• Environment Belgium
• Walloon Belgium
• Management services US
• Total

In Situ Technieken Dresdner Grundwasser
Berkeley Consulting Ecolas BCT PinnacleOne

Staff 10 20 100 60 65 230 485
GR in 1.5 1.5 10 6 6 28 53
Cons. from 1.4.06 1.7.06 1.8.06 1.10.06 1.10.06 1.
11.06
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The service areas Infrastructure Environment
Facilities
10
Strong organic growth in all service
areasFigures relate to first nine months 2006
(..) organic growth
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Infrastructure 5 (8)

• Organic growth strong at 8
• In Q3 accelerated growth in Netherlands and U.S.
• Higher investment levels in Dutch market rail,
  PPP, highways
• U.S. decline land development compensated by
  transportation and water markets
• Continued growth in Brazil mining and energy

Rail renewal market strong
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Environment 77 (8)

• Overall revenue growth mainly coming from
  acquisitions (BBL)
• Main contribution to organic growth of 8 from
  U.S. (GRiP)
• Softening in Q3 due to Poland and less
  subcontracting in U.S.
• Good synergy from BBL Greystone, inside
  outside U.S.
• U.K. and Netherlands strongest growth in Europe

GRiP continues growth
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Facilities 29 (17)

• Facility management DSM/Sabic drives organic
  increase
• Organic growth net revenue at 8
• Acquisition AYH strong growth contributor
• Good demand for project management in NL, U.K.
  and Germany
• Higher activity level in Belgium and France

ARCADIS Worldwide Project Consulting launched
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New Margin Targets
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Target margin was exceeded in 2005 8.2

• In 2000 margin target set at 8
• Strong margin improvement 2000-2005
• From 6.0 to 8.2, almost 40
• Portfolio changes focus added value
  structurally higher margin
• So evaluation of margins
• Internal and external benchmarking
• Improved consistency of margin calculation
• Margin definition is unchanged (Ebita as a of
  net revenue)

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New margin target for ARCADIS set at 10

• Targets per service area
• Adjusted Margin target
• margin 2005
• Infrastructure 7.1 8 - 9
• Environment 11.0 12 - 13
• Facilities 7.0 10 - 11
• Total 8.2 10
• When portfolio changes, margins to be reviewed
  again
• Focus remains on productivity improvements and
  higher value added
• Reaching targets also depends on market conditions

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Outlook
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Outlook per service area

• Infrastructure
• Economic growth creates room for project funding
  
• More PPP initiatives attract private sector
  investment
• Demand for flood protection work is increasing
• Environment
• Growing interest in environment and
  sustainability
• Synergy with BBL offers opportunities with
  multinationals
• GRiP continues to drive growth
• Facilities
• Economic growth drives project management demand
• Facility management benefits from outsourcing
  trend
• AWwPC launched for international real estate
  investors

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Outlook for full year 2006 improved

• ARCADIS is well positioned in markets that offer
  opportunity
• Synergy contributes to growth
• Integration BBL brought to conclusion in coming
  months
• Integration BBL and SOX 404 approx. 5 million
  out of pocket costs
• Acquisition policy continued
• Expected increase net income from operations
  raised to 40 to 45
• (barring unforeseen circumstances)

ARCADIS is well on track
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Thank you