1. Results 3rd Quarter 2009 Harrie Noy, Chief Executive Officer
September 17, 2018
Results 3rd Quarter 2009
Harrie Noy, Chief Executive Officer
November 11, 2009

2. Q3: Results better than expected
Net income from operations in Q3 12% higher
Gross revenue up 10% aided by MP merger
Continued growth infrastructure, environment stabilizes, buildings weak
Margin remains above 10% due to cost savings
Malcolm Pirnie contributes positively to revenues and profits
Outlook FY2009 adjusted upward: from slight decline to slight increase in net income from operations
Early anticipation on
difficult market is yielding results

3. Income Q3 2009 € 18.2 million Gross revenue Net revenue EBITA
September 17, 2018
Income Q € 18.2 million
Gross revenue
Net revenue
EBITA
EBITA recurring1)
Income2)
Ditto per share2,3)
2009
470
318
29.8
32.0
18.2
0.28
2008
427
284
30.3
16.3
0.27
_  _
10%
12%
-2% 6% 4%
Currency effect limited (0 – 1%) due to weaker US$
1) Excluding impact share participation plan Lovinklaan Foundation
2) Net income from operations before amortization and non operational items
3) In 2009 based on 65.6 million shares outstanding (2008: 60.6 million)

4. Income YTD 2009 € 50.8 million Gross revenue Net revenue EBITA
September 17, 2018
Income YTD € 50.8 million
Gross revenue
Net revenue
EBITA
EBITA recurring1)
Income2)
Ditto per share2,3)
2009
1,302
895
86.1
88.3
50.8
0.82
2008
1,254
850
87.2
47.8
0.79
_  _ 4% 5%
-1% 1% 6%
Currency effect 3 – 4% due to stronger US$
1) Excluding impact share participation plan Lovinklaan Foundation
2) Net income from operations before amortization and non operational items
3) In 2009 based on 62.1 million shares outstanding (2008: 60.5 million)

5. Important developments
Government investments keep infrastructure market robust
Signals of stabilization in environment
Two large GRiP® contracts wins
Clearly reduced organic net revenue decline
Buildings market remains challenging
Continued revenue decline in England and at RTKL
Strongest organic growth in Netherlands, Poland and France
Organic U.S. revenues lower, but less than previous quarters
Margin remains > 10%, despite restructuring charges of € 2.3 mio
Good contribution from Malcolm Pirnie; many synergy initiatives

6. Organic growth weakened by the recession

7. Organic growth weakened by the recession

8. Q3 recurring EBITA increased
Recurring EBITA Q3 and margin
Margin
In € millions
12%
Q3 recurring EBITA increased
10.7%
10.8%
10.1%*
9.6%
8.0% 6% 0%
Increase
69%
43%
36%
17% 1%
*) Recurring EBITA

9. Q3 recurring EBITA increased 6%
In € million
Q3 recurring EBITA increased 6%
30,3 0%
16%
-/-2%
-/-8%
32,0
Good performance in Netherlands and U.S. continued
Declining profitability in U.K. and RTKL due to recession
Q3 restructuring charge € 2.3 million; 09Ytd: € 7.6 million

10. Margin remains high Q1 Q2 Q3 9M 2008 9.9% 10.2% 10.7% 10.3% 2009 9.6%
10.1%*
9.9%*
2009
ex cc’s
9.8%
10.4%
10.3%*
10.2%*
Margin: EBITA as % of net revenue
*) Recurring EBITA excludes impact share program of Lovinklaan

11. Some financial details
Contribution carbon credits:
Q309: € 0.2 million; 9M09: € 0.3 million
Q308: € 1.0 million; 9M08: € 2.9 million
In Q1 09 book profit on unwinding derivatives of € 7.5 million
Financing charges excluding derivatives:
Q309: € 3.3 million; 9M09: € 7.0 million
Q308: € 5.4 million; 9M08: €12.2 million
Lower financing charges: lower interest rates, less working capital, exchange rate gains in 09 versus losses in 08
Tax pressure increased
Minority interest lower due to less profit from Brazil (including carbon credits)

12. Net income from operations and EPS Q3ytd 2009
In € millions
Net income from operations and EPS Q3ytd 2009
0.79
0.82
0.71
0.55
0.34
Earnings per share (in €)

13. Strong focus on cash
Working capital reduced to 15.1% of gross revenues (2008: 16.3%)
Cash flow from operating activities (Q3ytd):
2009: € 61.7 million
2008: - € 17.0 million
Improvement: +€ 78.7 million
Net debt to EBITDA:
Year end 2008: 1,3 (bank covenants)
End of Q3 09: 1,4 (at end of quarter)

14. Infrastructure continues growth (Q3ytd)
(..) organic growth

15. Development of cross country highways in Poland
Infrastructure 9M 2009: +17% organic: +9%; acquisitions: 10%; currency: -1%
Organic increase net revenue 5%
High subcontracting in Brazilian energy projects
Acquisitions: water activities Malcolm Pirnie, to be included in separate business line in 2010
U.S. local government market under pressure
In Europe strong growth in Netherlands, Poland, Belgium and France
South America: slowing of private investments

16. Environment 9M 2009: 0% organic: -13%; acquisitions: +7%; currency: +6%
Acquisitions: LFR, SET, environmental activities Malcolm Pirnie
Organic net revenue decline only 4%, due to less subcontracting
In the quarter organic net revenue only 1% lower, pointing to stabilization in environmental activities
Two large GRiP® wins totaling $170 million
In Europe growth: mainly government work
Brazil less work for industrial clients
Chile sees growth in mining related work
Measuring carbon footprint for the city of Gent in Belgium

17. Buildings 9M 2009: -10% organic -13%; acquisitions: 0%; currency: +3%
Designed and delivered the Shell new Technology Center in Amsterdam
Buildings 9M 2009: -10% organic -13%; acquisitions: 0%; currency: +3%
Net revenue declined organically 15%
Growth facility management: more subcontracting
In Q3 revenue decline sharpened due to growth in Q3-2008
Real estate market depressed globally
ARCADIS most affected in U.K. and RTKL
In Belgium pressure on industrial services
Growth in U.S. project management for education and government buildings

18. Outlook

19. Outlook per segment Infrastructure – robust due to government programs
Long term investments in NL, Poland, France, Belgium, incl. design-build
U.S. stimulus package expected to have impact as of 2010
Demand water services growing due to climate change
Growth in South America weakening, but Olympics Brazil offers chances
Environment – healthy foundation from regulation and sustainability
Signs of stabilization in U.S. market
GRiP® contracts indicate clients use downturn to refocus on core business
Selected as prime contractor for U.S. Air Force $ 3 billion global program
Advanced technologies, vendor reduction, outsourcing: more market share
New themes generating work are energy efficiency and CO2 reduction
Buildings – take opportunities through focus
In U.K. and RTKL, markets remain challenging, no short term recovery
RTKL partially compensates through commercial work Asia (China) and ME
U.S. healthcare discussion delays hospitals
Focus on non-commercial sectors that benefit from stimulus money
Facility management remains growth market

20. Outlook 2009 ARCADIS Building Global Leadership
Backlog stable versus end 2008
Good order intake across the board; less cancellations
Stimulus programs good for all three business lines
Capacity adjustments cause revenue decline in coming quarters
Priority is margin preservation through cost savings and client focus
This year no contribution from sale energy projects (2008: € 2.2 million)
Outlook adjusted upward to a slight increase (0 – 5%) of net income from operations (barring unforeseen circumstances)
ARCADIS Building Global Leadership

21. Shell Technology Center designed by ARCADIS

22. Key characteristics Main global research centre for Shell
Measures 80,000 square meters in floor space
Houses 1,200 researchers and associated staff
Contains offices, laboratories, testing rooms and halls, storage, restaurants, meeting facilities, parking
High quality, sustainable, flexible, safe and low in maintenance
Open structure to make interaction and discussion easier
ARCADIS provided design, engineering, project management

32. Imagine the result