infrastructure

buildings environment

communications

Results second quarter and first half 2002 By Harrie Noy, Chairman Executive

Board Amsterdam, The Netherlands, August 13, 2002

ARCADIS continues profit growth half year 2002 Net income from operations: +8%

Gross revenue Growth +3%

Operational margin Operating income + 13% Margin rises from 6.3% to 7.2%

Earnings per share Increase 8% to € 0.52

Results satisfactory given economy

Income 2nd quarter 2002: € 6.7 mln

Gross revenue

Operating income

Net income from operations * Net income f/ operations per

share

Net income from operations excluding exchange rate effects

*) After goodwill: EUR 0.1 mln

2001

201

11.3

6.30.31

2002

202

12.6

6.70.33

Growth

0%

11%

7%

11%

11%

Strong effect from exchange rate declines (real, dollar)

Income 1st half 2002: € 10.6 mln

Gross revenue

Operating income

Net income from operations * Net income f/ operations per

share

Net income from operations excluding exchange rate effects

*) After goodwill: EUR 0.1 mln

2001

382

18.0

9.90.49

2002

395

20.3

10.60.52

Growth

3%

13%

8%

8%

10%

Sources of growth 2002

Total- Autonomous- Acquisitions/divestments- Exchange rates

- Autonomous excl. effect real estate valuations

First half year

3% 5%-1%-1%

6%

Gross revenueSecond quarter

0% 4%-1%-3%

5%

Important developments

Autonomous growth at a good levelGrowth mainly in Latin-America, Spain, BelgiumInfrastructure strong around the worldEnvironment continues growth in U.S.Gross revenues U.S. slightly lower Integration Dutch operations positive effects

Development operating income

In euro mln

12.6 13.116.3 18.0

20.3

0

5

10

15

20

25

1998 1999 2000 2001 2002

First half year11%8% 4% 24% 13%

Development net income and EPS (excl. extraordinary items)

6.57.2 8.8

9.9 10.6

02468

1012

1998 1999 2000 2001 2002

First half year+5% +11% +21% +13% +8%

0.90

0.60

0.30

0.00

In euro

0.45

0.15

0.75

In mln euro

0.340.38

0.440.49

0.52

Net income

Balance sheet

1.5

0.90.7

0.0

0.5

1.0

1.5

2.0

2000 2001 2002

Debt / EBITDA

34.6%41.5% 43.6%

0%10%20%30%40%50%

2000 2001 2002

Solvency

Healthy balance sheet Equity somewhat lower

resulting from exchange rate effects

Temporary pressure solvency through purchase of own shares

Low leverage limits interest burden

Enough room for acquisitions also after French takeover

Gross revenue: Market segments half year 2002

050

100150200250

2000 2001 2002

Buildings -/-8%

050

100150200250

2000 2001 2002

Infrastructure +13%

050

100150200250

2000 2001 2002

Environment +2%

050

100150200250

2000 2001 2002

Communications -/-16%

Infrastructure +13%

Netherlands: besides high speed and Betuwelijn, also Hanzelijn

Start ring Antwerp Large assignments Spain

related to investment program Growth U.S. despite some

market pressure Energy projects Brazil provide

strong growth Position rail infra Chili

HSL projects Spain

Environment +2%

Autonomous growth 4% Fully attributable to U.S. U.S. GRIP™ projects for DOD Brazil growth through Hydro

Ambiente Environment as entry point for

expansion services to industry

Buildings –8%

Decline in U.S. and Netherlands Continued growth in Spain and

Belgium Netherlands: decline office

market + recudtion less profitable work

U.S. almost stable vs. Q4 2001 Two large assignments U.S.

automotive industryRijksmuseum Amsterdam

Communications –16%

Decline from real estate valuation and telecom

Telecom stable vs. Q4 2001 Focus telecom on higher

margin projects: First mile Deventer Antenna’s on rail portals

GIS-market continues growth (+22%)

Gross revenue: Regions

0

50

100

150

200

2000 2001 2002

NL +3%(ex. real estate +6%)

0

50

100

150

200

2000 2001 2002

America's +1% (aut. +3%)

0

50

100

150

200

2000 2001 2002

Other countries +13%

0

50

100

150

200

2000 2001 2002

Other Europe +7%

AcquisitionsSpain (in Q2, 2002)

Casta, gross revenue EUR 4 mlnManage senior citizen housing and servicesGrowth market in Spain

France (after Q2, 2002)FCI, gross revenue EUR 60 mln; 800 employees 80% infrastructure; 20% environmentHome market position in France (top 5)

Positive effect on earnings per share

Outlook marketInfrastructure

Market demand stays at good level Environment

Opportunities for growth in U.S. Revenue gets long-term character through GRIPTM

Buildings Better order book U.S. Market recovery depends on economy

CommunicationsNo recovery in telecom before 2004Result from abolishment real estate tax limited

Outlook 2002

Lower autonomous growth in second half Insecurity economic recovery Earlier revenue decline buildings/communications

Exchange rates: negative translation effectCompensation from contribution acquisitions Further margin improvement Depending on economic recovery net income 5-10%

higher Barring: unforeseen circumstances

infrastructure, buildings, environment, communications

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