Imtech:

1
Imtech
On route to further growth
Half year Accounts 2005 16 August 2005 René van
der Bruggen
2
Highlights first half 2005
Amounts in euro

• Good first half year 2005
• Strategic acquisitions in UK and Spain
• Forecast unchanged
• On route to further growth

All figures are based on IFRS
3
Imtech well positioned for further growth

• Two (growth)axis in strategic portfolio Imtech
• Benelux
• Netherlands
• Belgium and Luxembourg
• Germany / UK / Spain
• Germany, including Eastern Europe
• UK
• Spain
• ICT Technology
• ICT and Telecom
• Maritime and Technology

Geographic
Technologic
4
Imtech well positioned for further growth

• Netherlands
• Buildings
• Slight recovery technical renovation and
  upgrading
• Good development in care (Care Cure), integral
  security (Security) and education
• Maintenance and management continues to grow
• Industry
• Partner in Industrial Maintenance
• Market stable, trend to technical renovation and
  upgrading
• Infra
• Market is sharp'
• In rail (o.a. Asset Rail) and traffic management
  positive developments

5
Example project Netherlands

• Technical renovation and upgrading in Netherlands
  
• Market technical renovation and upgrading
  building is picking up
• Imtech is full service contractor for
  multi-disciplinary technology
• Private sector Essent, IKEA, NAM
• Public sector Ministry of Finance,
• County hall in Zwolle,
• Office Dutch Department of Public
• Works in Utrecht
• Scale of the projects
• approximately 50 million euro

6
Imtech well positioned for further growth

• Belgium and Luxembourg
• Stable market
• Buildings
• Strong position real estate market Brussels
• In Luxembourg large projects acquired
• Maintenance and management continues to grow
• Industry
• Position in pharmacy strengthened
• Opportunities in the food industry and automotive
  industry
• Infra
• Maintenance contracts Arduco acquired

7
Example project Belgium and Luxembourg

• Sustainable maintenance and management head
  office AXA,
• Brussels
• 83,000 m² head office insurance company AXA,
  Brussels
• 3,100 users
• Sustainable technical maintenance and management
• Scale of the project 2 million euro
• per year, contract for 5 years

8
Core figures Benelux
Amounts in million euro
9
Imtech well positioned for further growth

• Germany
• Buildings
• Growth in maintenance and management
• From offices to hotels, stadiums and expo centers
• Industry
• Improving market
• Energy Contracting further growth
• Strengthening position in Eastern Europe

10
Example project Germany

• Sustainable technical design multi-functional
• sports arenas Germany
• Multi-functional indoor sports arenas in
  Düsseldorf and Mannheim
• Capacity 13,000 15,000 spectators
• Complete sustainable technology,
• computer simulations fire security
• Scale of the projects approximately
• 30 million euro

11
Imtech well positioned for further growth

• UK
• Acquisition Goodmarriott Hursthouse
• Revenues 2004 35 million euro, 220 employees
• Wide scope of activities, excellent reputation
• Strong position Midlands Nottingham and
  Yorkshire
• Buildings
• Continues growth in Great London hotels, retail,
  (very) luxurious apartments
• Infra
• Continues growth in (waste)water purification
  market long-term contract South Staffs Water

12
Imtech well positioned for further growth

• Imtech in the UK
• Turnover 200 million euro,
• 430 employees, eleven establishments
• Prominent in buildings in Great London and
  Midlands
• Strong in water industry UK
• Growing in maritime market
• (a.o. Royal Navy, BAE)
• Positions in parking, fire security and telecoms
• Strategic growth area expansion of
• geographical positions

13
Example project UK

• Technology Arsenal Stadium, London
• Capacity 60,000 spectators
• Kickoff to the future for Arsenal
• quality, comfort, security and marketing
• Order for Goodmarriott Hursthouse
• Scale of the project 10 million euro
• (electrical engineering)

14
Imtech well positioned for further growth

• Spain
• Acquisition Mavisa
• Strong technical industrial service provider in
  (petro)chemistry
• Revenues 2004 100 million euro, 700 employees,
  eight establishments
• 40 Industrial Maintenance
• Customers 200 large industrial companies
• Buildings
• From offices to hotels, shopping centres and expo
  centers
• Increase in maintenance and management
• Industry
• Autonomous growth, a.o. automotive industry and
  pharmacy

15
Imtech well positioned for further growth

• Imtech in Spain
• Turnover 150 million euro, 1,200 employees,
  twelve establishments
• Strong position in industry
• Strong position in buildings in Barcelona and
  Madrid, expansion to regions Valladolid and
  Valencia
• Strategic growth area obtaining position in
  electrical engineering and expansion of
  geographic positions

16
Example project Spain

• Industrial Maintenance refinery BP Oil, Castellon
  
• Imtech (Mavisa) since 1994 with own establishment
  permanently on site
• 2,000 BP employees
• Imtech realises
• Long-term Industrial Maintenance
• Periodical and partial shutdowns
• Complete technical
• upgrading and maintenance
• Scale of the project
• approximately 5 - 7 million euro per year

17
Germany / UK / Spain
Amounts in million euro
18
Imtech well positioned for further growth

• ICT and Telecom
• ICT
• ICT-infrastructure strong position maintained,
  growth in education
• IT disappointing performance
• Project management and consultancy good
  performance
• Telecom
• Netherlands difficult first half year because of
  uneven order flow
• Belgium, Germany, UK and Scandinavia growing
  position
• Imtech Telecom from capacity company to knowledge
  company with added value

19
Example project ICT

• Optimal supply management and just-in-time
  delivery for Yamaha
• Worldwide ERP-solution (Enterprise Resource
  Planning)
• Supply and distribution all (parts of)
• motor types Yamaha just-in-time delivery
• Co-operation Imtech and IBM
• Scale of the project 1 million euro

20
Imtech well positioned for further growth

• Technology and Maritime
• Technology
• Process technology international growth
• Access control and fire security demand for
  integral safety grows
• Cautious recovery parking activities
• Maritime
• Rapid international growth, a.o. China
• Offshore market improves because of increasing
  demand for oil and gas
• North Sea Shipping improves

21
Example project Maritime

• Growth maritime activities in China
• China important point of concentration for
  export
• Western owners choose high-quality maritime
  technology
• Chinese order portfolio technology 130 ships,
  worth
• approximately 80 million euro
• Diversity in ships, dozens of shipyards, broad
  technological spectrum ? continuity guaranteed

22
Example Project Technology

• Upgrading process technology PVC factory Oltchim,
  Romania
• Upgrading quality production to
• West European standard
• Doubling capacity to 350,000 tons PVC powder
• a year
• Project of Ventilex (Imtech Technology)
• Project scope around 12 million euro

23
ICT Technology
Amounts in million euro
24
Core figures per cluster
Amounts in million euro
EBITA in first half 2005
EBITA in first half 2004
Benelux Germany / UK /
Spain ICT Technology
25
Amounts in million euro
Turnover and EBITA
18.3 compared to 30-06-2004
7.2 compared to 30-06-2004
Turnover EBITA
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Amounts in million euro
Order portfolio
10.3 compared to 30-06-2004
27
Amounts in million euro
Core figures
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Amounts in million euro
Core figures
29
Amounts in million euro
Transition from Dutch GAAP to IFRS
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Transition from Dutch GAAP to IFRS
Amounts in million euro
31
Transition from Dutch GAAP to IFRS
Amounts in million euro
32
Strategy

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

Countries Easten Europe
33
Prospects
Based on the developments in the first half of
2005, the Board of Management maintains its
forecast of March 2005 that the operating results
will increase in 2005
34
Imtech
Half year Accounts 2005 16 August 2005 René van
der Bruggen