2005 a good year for Imtech: EBITA +20% and net profit +15%

Tuesday, 28. February 2006 07:30

Key points
- 2005¹:
- Revenue: 2,379 million euro, + 18% (organic + 9%)
- EBITA: 86.3 million euro, + 20% (organic + 3%)
- Net profit: 50.8 million euro, + 15%
- Earnings per share²: 2.06 euro, + 18%
- Dividend: 1.07 euro per ordinary share, pay-out: 55%
- Order portfolio at the end of 2005 of good quality: 2,396 million
euro, + 12%
- Outlook for 2006: higher organic EBITA growth

New growth phase
Gouda - Mr. R.J.A. (René) van der Bruggen, Chairman of the Board of
Management of European technical services provider Imtech N.V.
talking about the 2005 results: 'Imtech can look back on a good year
and, in line with our strategy, is expanding into a multidisciplinary
technical services provider (the combination of electrical
engineering, ICT and mechanical engineering) with a European
stature.'

'The prospects for 2006 give cause for optimism', according to Van
der Bruggen. 'In the Netherlands the recovery of the buildings,
industry and infrastructure markets - markets relevant for Imtech -
that we have awaited for some time is now expected to continue. It
was already apparent at the end of 2005 from the growth in the work
on offer and the order portfolio. We have also built-up strong
positions in the care, integrated security and food & feed niche
markets and in the field of energy management. The markets in Belgium
and Luxembourg are good and the positions were strengthened in 2005
through smaller, but good quality, acquisitions. In Germany our
market position remains good. In 2005 our order intake in Germany
reached the one billion euro milestone, which has reinforced Imtech's
leading position. Imtech is also profiting from the increasing
industrial export which is resulting in extra investment in
technology. In Spain and the UK market conditions have remained
favourable and, in part thanks to good acquisitions, Imtech has
expanded considerably, which offers good prospects for further
growth. In the ICT organisation a limited reorganisation has been
carried out. Further improvement will result from the concentration
of the telecoms activities in the core business. Imtech's innovative
marine activities developed well and are on the threshold of further
international growth. The technology activities are also well set up
for further growth, particularly in the area of process technology.
In a nutshell, Imtech is ready for a new growth phase.'


1) 2004 based on IFRS and before the exceptional charge related to
violation of the Dutch Competition Act.
2) Before amortisation and impairment of intangible fixed assets.
René van der Bruggen states that: 'the positions that have been
built-up in various European countries and technology markets, the
added-value achieved for customers and the anticipation of improving
markets and price volumes form a firm foundation for healthy growth
in the coming years. In 2005 organic EBITA growth amounted to 3%,
despite still less than optimum market conditions, particularly in
the Netherlands. In 2006 Imtech expects organic EBITA growth will
rise to a higher level. The quality of the order portfolio at the end
of 2005, which increased by 12% to 2.4 billion euro, was better
across the board than in the preceding year.'

Result development in 2005
In 2005 revenue rose by 18.0% to 2,379 million euro (2004: 2,016
million euro), of which 9.5% was organic. The order portfolio on 31
December 2005 amounted to 2,396 million euro - an increase of 12.4%
(2004: 2,132 million euro) of which a substantial portion was
organic.

In 2005 the earnings before amortisation and impairment of intangible
fixed assets (EBITA) rose by 19.9% to 86.3 million euro (2004: 72.0
million euro, before the exceptional charge related to the violation
of the Dutch Competition Act). Despite continuing pressure in the
Dutch buildings, infrastructure and telecoms markets the increase in
the operating result was generated by a combination of acquisitions
and good business development in Belgium, Luxembourg, Germany, the UK
and Spain and in the marine and technology markets. The ICT
activities also grew although less than anticipated. The industrial
activities grew in every country and the share of the maintenance
services & management activities also increased once again. EBITA
increased organically by 3.1% (2004: 2.6%).

Net profit rose by 15.4% to 50.8 million euro (2004: 44.0 million
euro, before the exceptional charge related to violation of the Dutch
Competition Act). The net return on average shareholders' funds
amounted to 18.4% (2004: 13.9%).

Earnings per share before amortisation of goodwill and impairment of
intangible fixed assets rose by 0.31 euro to 2.06 euro (+ 17.7%),
based on the average number of issued shares during the year under
review.

Dividend proposal and return
The dividend policy is to pay-out 40% of the net profit to
shareholders. A cash dividend of 1.07 euro per share (2004: 1.07
euro) will be proposed to the General Meeting of Shareholders. This
proposal equates to a profit pay-out of 55% of the net profit (2004:
63%) and reflects the company's confidence in the future. The
dividend return based on the 2005 closing price amounts to 3.9%
(2004: 4.1%).

Acquisitions
In 2005 Imtech was strengthened in various countries through the
following acquisitions:
in Spain: the industrial technical services provider Mavisa with a
strong position in the Spanish industrial technical services market
(700 permanent staff, annual revenue: 100 million euro);
in the UK: the technical services provider Goodmarriott & Hursthouse,
a multidisciplinary technical services provider with a strong
position in the buildings and industry markets in the Midlands (220
staff, annual revenue: 35 million euro);
in the Benelux: the Belgian technical services provider Synerco,
various maintenance contracts in the Belgian infrastructure market
and the maintenance activities of ABB Building Services in Luxembourg
(in total 310 staff, annual revenue: around 30 million euro).

The total purchase price of these acquisitions, including earn-out,
was 56.3 million euro. In 2005 acquisitions contributed 110.3 million
euro towards revenue and 9.8 million euro towards EBITA.

Business development per cluster

Benelux
Imtech is one of the strongest multidisciplinary technical services
providers in the Benelux. The activities showed a mixed picture. With
a good increase in revenue of 20.6% (797 million euro compared with
661 million euro in 2004), EBITA rose slightly to 24.7 million euro,
compared with 23.9 million euro in 2004 - an increase of 3.3%. The
order portfolio at the end of 2005 increased by 7.7% to 825 million
euro (2004: 766 million euro). In the Netherlands the activities in
the buildings and infrastructure markets came under pressure,
particularly in the first half of the year, but in Belgium and
Luxembourg these activities grew. Imtech achieved a healthy growth in
all countries in the industrial market, and in the field of
maintenance services & management in both buildings and industry.
Acquisitions strengthened the position in Belgium (infrastructure
market) and Luxembourg (maintenance services & management).

In 2005 the order portfolio not only grew but the quality of the
orders was better than in 2004. Although price levels improved
competition was still fierce and the margin was still down. Because
most of the on-going projects had been acquired in earlier years and
at lower prices, Imtech only managed a slight improvement in result.
Compared with the first half of 2005, when EBITA fell by 7.1%, the
performance was, however, good.

Although the number of new-build projects in the Dutch buildings
market was limited the market for technological renovation and
upgrading improved. Examples included the head office of Essent and
the County Hall in Zwolle. Good progress was made in the field of
energy management, for example for ABN AMRO. In the care sector the
position was strengthened and the large number of orders, including
the upgrading and multi-year maintenance of Leeds University Medical
Centre (LUMC), has put Imtech Care & Cure in a good starting
position. Progress was also made in the field of integrated security
with orders from a variety of customers including various Ministries,
banks and educational establishments. In Belgium, Brussels is a
stable market for Imtech with the expansion of the European Union and
increasing investment by financial institutions and hotels. One new
project was the SAS Radisson hotel. In Flanders the market position
was strengthened and in Walloon the growth rate was accelerated. The
market stabilised in Luxembourg where various EU institutions and the
financial sector are seeking new premises. Imtech is involved with a
73,000 m² bank building in Kirchberg and is responsible for the
energy management in the Grand Duke's Palace.

In the Dutch industry market investment rose as a result of
initiatives in the field of process optimisation, increasing
environmental demands and the need (Kyoto Treaty) to reduce emissions
of harmful greenhouse gasses. The markets for chemicals, oil and gas
improved. The volume of work on offer was good, but prices have not
yet caught up. The focus of the activities includes technical
automation (for example the automation of milk reception at Friesland
Foods) and industrial maintenance (including at Shell, Corus and
DSM). The food & feed activities showed a healthy growth. Orders
included an upgrading of the automation at animal feed company
SaWeCo. In Belgium, although industrial investment was stable, Imtech
was able to achieve growth. Orders came from customers in the
pharmaceutical sector, the automobile industry and logistics
including Pfizer, Volvo and Columbus Foods. New market segments such
as chemicals and food and luxury foods were penetrated and the first
project for A-brand manufacturer Red Band was carried out.

In the Dutch infrastructure market price levels improved. In the
railway infrastructure market Imtech strengthened its position and
was involved in a number of projects including the improvement of
security at 230 Dutch level-crossings. The objective of the Asset
Rail joint venture Imtech has set up with partners is the acquisition
of large, multi-year railway infrastructure maintenance contracts.
Imtech is the market leader in the field of traffic management, for
example with the technological maintenance of the Oudenrijn Traffic
Centre and the Dutch Traffic Information Centre, including the
maintenance on 200 kilometres of motorway. The market for the
individual (digital) metering of gas, water and electricity usage is
an interesting one. One project in which Imtech was involved was the
installation of 300,000 individual water meters in Amsterdam. The
position in the Belgian infrastructure market was strengthened
through acquisitions and here Imtech, with a staff of 300, is now one
of the larger market players. Further growth can be achieved through
the exchange of knowledge between the Dutch and Belgian
organisations.

Germany, the UK, Spain
Imtech Deutschland, Imtech UK and Imtech España could close 2005 with
above average results. Revenue, EBITA and the order portfolio
improved considerably, both organically and as a result of the
acquisition of Goodmarriott & Hursthouse in the UK and Mavisa in
Spain. Revenue rose by 21.4% to 1,096 million euro (2004: 903 million
euro). EBITA rose sharply to 50.1 million euro, compared with 39.8
million euro in 2004 - an increase of 25.9%. The order portfolio also
rose by 14.8% to 1,049 million euro (2004: 914 million euro). Thanks
to the strengthening in the UK and Spain Imtech is now one of the
larger technical services providers in these countries.

In Germany Imtech is the largest multidisciplinary technical services
provider in the industry and buildings markets. The order intake
reached one billion euro, which reinforced Imtech's leading position.
The focus was on the industrial market which, thanks to exports, is
growing. Imtech has a very broad customer base in Germany. More
attention was paid to business development and, as a result, the
order intake increased, the majority on the basis of multi-year
contracts and with a concentration in the pharmaceutical and
chemicals sectors and the automobile industry. Examples include
Stada, Roche and Altana, BMW, DaimlerChrysler, MAN, Audi and BASF. In
the buildings sector Imtech concentrated on the technological
renovation of existing buildings, sometimes with business continuing
as usual, sometimes not. One example is the renovation of the Holiday
Inn in Munich. Another successful focal area was the special projects
segment, for example the technology in the multi-functional stadiums
in Mannheim and Dusseldorf and the Stuttgarter Messe. The position
was also strengthened in the care sector, for example in the Barmbek
and Diakonie hospitals in Hamburg.

Imtech is one of the strongest players in the German energy
management market and is capable of taking responsibility for all a
customer's energy provisions (heat, power and cooling) in both the
buildings and industry sectors. The objective is a substantial
reduction of annual energy costs. Multi-year contracts were signed
with, among others, the Heidelberg University hospital and automobile
industry supplier TDM Friction Group.

From within Germany Imtech is focussing more and more on the market
for multidisciplinary technical solutions in Eastern Europe - a
growth region in which Imtech wants to strengthen its position in the
future. Projects were carried out for a number of customers including
BAT (British American Tobacco) and the Selgros and Metro
supermarkets.

In the UK Imtech is active in the Greater London area, the Midlands
and the national drinking water and waste water treatment
infrastructure market. Imtech is one of the strongest players in all
these segments.

There was an up-swing in the apartment segment of the buildings
market and Imtech acquired a number of projects including Falcon
Wharf in London and Clarence Dock in Leeds. There was also a slight
improvement in the education market where one order was for the
technology at Loughborough University. Investment in the care sector
increased due to the establishment of regional multidisciplinary care
centres, such as in London, Carlton and Staplefort where Imtech is
responsible for the technology. In the stadium market Imtech made a
major contribution towards the new Arsenal Emirates stadium. In the
airport market Imtech was responsible for the technical
infrastructure in a new terminal at Farnborough Airport. The
buildings market is shifting more and more towards multidisciplinary
Design & Build projects - a field in which Imtech has considerable
expertise. The fact that the 2012 Olympic games will be held in
London is very positive for Imtech.

Investment in the industry sector rose slightly. The focus was on the
care industry, pharmaceutical and adjacent medical sector. One of the
projects with which Imtech was involved was an expansion of Boots in
Nottingham.

In the infrastructure market more and more Water Boards (regional
water companies) are opting for the added-value of Imtech. The
ten-year contract with Dwr Cymru Welsh Water (300 million euro)
acquired last year progressed smoothly. New contracts in 2005 came
from South Staffordshire Water and Anglian Water Services. Multi-year
continuity is assured.

In the Spanish buildings market there is continuity in the Madrid and
Barcelona regions. In the Valladollid and Valencia regions Imtech is
still growing. Due to the office market being somewhat saturated,
Imtech focused - successfully - on the technological equipping of
shopping centres, hotels, exhibition centres and transferia, for
example in Madrid in the 240,000 m² Plenilunio leisure and shopping
park, the Auditorium hotel (the largest hotel in Europe) and the
'Plaza Elíptica'. Imtech also worked on acquiring a position in the
maintenance services & management market.

The acquisition of Mavisa brought Imtech a top-5 position in the
Spanish industrial technical services market. In this market Imtech
has established long-term relationships with customers. Cepsa
extended the maintenance contracts for its refineries in Algeciras,
Huelva and Tenerife. Maintenance and shut-downs were carried out at
Acerinox's steel factory in Palmones. Enagas, Iberdrola and CLH
became new Imtech customers and Imtech also penetrated new markets.
The first activities were carried out for Iberdrola, the largest
Spanish electricity distributor. Other new market segments were water
treatment and the automobile industry. Imtech investigates the market
in northern Spain from the south of the country where its activities
are concentrated.

ICT & Technology
On balance the activities in the ICT & Technology cluster underwent a
positive development. Revenue rose by 7.5% to 486 million euro (2004:
452 million euro). EBITA amounted to 22.5 million euro compared with
18.0 million euro in 2004 - an increase of 25.0%. At 522 million euro
the order portfolio at the end of 2005 was also 15.5% higher (2004:
452 million euro). The picture in the underlying activities was
mixed. The ICT activities showed a reasonable growth but were not as
good as expected. Imtech Technology performed much better than last
year. The marine activities once again showed a strong growth and
made an excellent contribution towards EBITA. Imtech Telecom's
activities grew, particularly in the UK and Belgium. Development in
Scandinavia was stable while the Netherlands was, once again,
disappointing.

In the ICT market Imtech is a full-service ICT services provider with
a strong position in the Netherlands. Small divestitures were carried
out including the sale of a 51% interest in BEEP! Easy Mobile
Ticketing to KPN. Activities increased in the consultancy and project
management market. A model project in the field of ERP (Enterprise
Resource Planning) was carried out for water company Vitens. In the
software services and Business Intelligence market Imtech is the
partner of IBM, Cognos and Microsoft. For A-brand manufacturer
Bolletje, for example, Imtech 'translated' company data into
management information to support the making of strategic investment
decisions. A limited area of the IT organisation was reorganised to
improve profitability. Imtech is one of the strongest players in the
Dutch ICT infrastructure market. As the complexity of their ICT
infrastructures increases more and more customers, such as
DaimlerChrysler Nederland and Fortis, are contracting out the
management of these infrastructures to Imtech. In the field of
(in-house) data and telecommunications Imtech held onto its position
in the face of increasing competition. Imtech was, for example,
responsible for a new telephony concept in the Higher Economic School
(HES) Amsterdam.

The telecoms market installation activities were moved internally and
the focus is now concentrated entirely on network solutions for the
telecommunications and broadcasting market. In this field Imtech
works very closely with internationally renowned system suppliers.
The market is aimed at the convergence of services provision and
technology integration. The Internet Protocol (IP) enables high
accessibility, quality and optimum security to be offered. In the UK
Imtech was involved with the setting-up of broadband activities for
Lancaster University.

Imtech had a good year in the technology market. Progress was made in
the area of fire security, access control and process technology. The
parking activities, which performed less well in 2004, made a
recovery. The demand for fire extinguisher systems in the oil and gas
market increased. Imtech was active in, among other areas, Nigeria,
the Caspian Sea and the North Sea. The increasing need for security
resulted in further growth of the activities in the access technology
market, for example in Groningen Football Club's new Euroborg
Stadium. In the process technology field Imtech's global activities
for (freeze) drying are growing.

In the marine market Imtech, thanks to its large measure of
innovation, has developed into an international player of stature
offering integrated total solutions. In the German luxury yacht and
cruise liner market, for example, where orders worth a total of over
54 million euro were acquired. In the naval vessel market the Dutch
frigate programme was completed and good progress was made with the
execution of amphibious ships for both the Dutch Navy and the British
Royal Navy. In 2005 Imtech was also involved in the German, Polish
and Greek frigate programmes. Imtech is also active in the growing
Chinese market, for example on board more than 130 ships at over ten
wharves. The increased demand for oil and gas has strengthened
Imtech's position in the offshore market. Imtech was responsible for
the technology on board a 225 metre long offshore oil and gas
pipeline laying ship.

Financial income and charges
At 11.4 million euro negative the balance of financial income and
charges was at a lower level than in 2004 (7.1 million euro
negative). Interest charges related to pension provisions amounted to
24.8 million euro and the expected return on fund investments
amounted to 18.7 million euro. The increase in interest charges was
due to the lower net cash position throughout the year which was the
consequence of acquisitions and the seasonal pattern. At 0.7 million
euro the result of associated companies and joint-ventures was the
same as in the previous year.

Taxes
Taxes amounted to 20.4 million euro, 1.3 million euro more than in
2004. The effective tax rate was lower at 28.1% (2004: 33.9%).

Financial position
The balance sheet total rose by 253 million euro to 1,310 million
euro at the end of 2005 (2004: 1,057 million euro). This increase was
due primarily to the acquisitions carried out in 2005, an increase of
work in progress and receivables.

The shareholders' funds position rose due to an addition of 8 million
euro from the 2004 result. Shareholders' funds at the end of 2005
amounted to 293 million euro (end of 2004: 269 million euro) - an
increase of 24 million euro.

At 22%, solvency at the end of 2005 was lower than at the end of 2004
(25%). The interest coverage amounts to 7.3 (2004: 8.9). The net cash
position amounted to 102 million euro (2004: 92 million euro). On 31
December 2005 Imtech had over 160 million euro in liquid assets at
its disposal and ample bank facilities which, to a great extent, had
not been used. This implies that Imtech has sufficient financial
scope for further growth through acquisitions.

Investments and depreciation
Investments in tangible fixed assets amounted to 20.1 million euro
(2004:16.9 million euro) and depreciation amounted to 18.7 million
euro (2004: 17.9 million euro). In 2006 investment is expected to
once again be at a higher level than depreciation. Divestments
involved a sum of 2.8 million euro (2004: 5.4 million euro).

Cash flow
Imtech generated a positive cash flow with which the intended growth
can be financed. Compared with 2004, cash flow from operating
activities was 78.3 million euro higher at 121.4 million euro, mainly
due to better management of the working capital. Cash flow from
investment activities amounted to 72.0 million euro negative compared
with 33.1 million euro negative in 2004. This was primarily due to
the acquisitions in Spain and the UK. The investment was financed
from available liquidity.

Purchase of own shares and exercise of options
In the year under review 214,113 shares were repurchased to cover
obligations related to options awarded to staff and to cover the
shares awarded conditionally to the Board of Management. In 2005,
245,000 options were exercised. At the end of 2005 the number of
repurchased shares amounted to 806,113 (2004: 837,000).

Personnel and organisation
The number of employees rose by 1,683 (13,1%) from 12,836 to 14,519,
mainly as a result of acquisitions. Staff inflow rose to 10.1% (2004:
6.0%). By contrast, staff outflow fell to 5.9% (2004: 10.5%).
Voluntary resignation rose slightly to 5.4% (2004: 4.0%). This
picture reflects the improving markets in 2005. The need for good
technical staff has not changed. The average sickness leave per
employee fell to 4.3% (2004: 4.6%). The accident frequency per
million hours worked fell to 0.003 (2004: 0.03).

Strategy
A strategic high-point is the achievement of a sharp focus on the
further increase in added-value for customers. Imtech offers
measurable added-value in the form of integrated and
multidisciplinary total solutions (by combining electrical
engineering, ICT and mechanical engineering) that lead to 'change in
business': better operating processes and a higher return for
customers and end-users. At the same time, Imtech's technological
solutions contribute towards a sustainable, feasible society by
providing solutions for current social issues such as security,
mobility, the environment or the need for energy.

Imtech's strives strategically to achieve a top-3 position in all the
countries and technology markets relevant for the company. The
strategy is aimed at maintaining structural organic growth, the
acquisition of high-value services with the related high margins
(particularly in ICT, engineering and consultancy as well as
maintenance services & management) and a continuation of the European
expansion.

Concrete action points in the implementation of this strategy are:
- a sharp focus on growth markets, such as energy management, care
and integrated security;
- a strengthening of the industrial activities in the Netherlands in
the field of mechanical maintenance;
- acquisitions in the field of ICT, especially in Germany, the UK and
Belgium;
- a strengthening of the position in the UK in both the buildings and
industry markets (geographical) and in the water industry (water and
waste water treatment);
- affirming the national position in Spain through the acquisition of
one or more specialist electrical engineering companies and a further
geographical expansion of the industrial activities;
- expanding activities in a number of Eastern European countries from
existing market positions (especially from Germany);
- a strengthening of the infrastructure activities with technological
competencies and possible acquisitions in Germany (border region) and
the UK;
- the further internationalisation and strengthening of the position
in the international marine market through acquisitions.

Acquisitions must fit in with the strategy, make an immediate
contribution towards earnings per share, provide measurable
added-value, possess a capable management and offer possibilities for
synergy. Imtech has sufficient means to finance complementary
acquisitions for the majority of these strategic trajectories.

Targets
Imtech strives to achieve a revenue of around 3 billion euro in 2008
(2005: 2.4 billion euro).
Under 'normal' market conditions Imtech strives for an operational
target margin of 6%. The foundations of this target are adjusted and
are as follows:
- 5% for the multidisciplinary technical services in the Benelux
(around 35% of revenue);
- 5% for the multidisciplinary technical services in Germany, the UK
and Spain (around 40% of revenue) ;
- 8% for the technological activities in the field of ICT &
Technology (around 25% of revenue).

Achieving these targets will depend on developments in the countries
and technological market segments relevant for Imtech.

Outlook 2006
Imtech is well-positioned for a new growth phase in 2006.

Imtech is facing 2006 with confidence. This confidence is, in part,
based on the fact that at the end of 2005 the order portfolio was of
a good quality right across the board. In addition, not only has
Imtech built-up a strong strategic portfolio of cohesive activities
but its European position was strengthened still further in 2005
through high quality acquisitions. At the same time, the current view
is that market conditions will continue to improve in the countries
and technological segments relevant for Imtech.

According to its current views, the Board of Management expects
organic EBITA growth in 2006.
For further information

Public Relations
M.E.J. (Mark) Salomons
Company Secretary
Telephone: Int. + 31 (0)182 54 35 14
E-mail: pers@imtech.nl
www.imtech.nl

Investor Relations
C.A. (Kees) van Rooden RA
Financial Director
Telephone: Int. + 31 (0)182 54 35 04
E-mail: investors@imtech.nl
www.investors.imtech.nl

Imtech profile
Imtech N.V. is a European technical service provider in the field of
electrical engineering, ICT and mechanical engineering. With
approximately 14,500 employees, Imtech achieves an annual revenue of
2.4 billion euro. Imtech holds strong positions in the buildings,
industry, marine, infrastructure and telecoms markets in Belgium,
England, Germany, Luxembourg, the Netherlands and Spain. Imtech
shares are listed on the Euronext Stock Exchange (Amsterdam), where
Imtech is included in the Amsterdam SmallCap Index (AScX) and the
Next 150 index.

Financial Calendar
- General Meeting of Shareholders: 11 April 2006
- Quotation ex-dividend: 13 April 2006
- Dividend made payable: 21 April 2006
- Publication of half-yearly results 2006, press conference and
analysts' meeting: 15 August 2006
- Publication of annual figures 2006, press conference and analysts'
meeting: 27 February 2007
- General Meeting of Shareholders: 10 April 2007

Press conference and analysts' meeting, 28 February 2005, Hilton
Hotel, Amsterdam
A press conference will be held in the Hilton Hotel, Apollolaan 138,
1077 BG Amsterdam from 10:00 hours. The analysts' meeting will start
at 12:00 hours. Registrations may still be made via Astrid Marré,
telephone: Int. + 31 (0)6 11 39 69 98.

Live broadcast via Internet (Webcast)
The analysts' meeting on 28 February 2006 will be transmitted live
via the Internet (www.imtech.nl) from 12:00 hours to approximately
13:00 hours.

Photography
Photographs of the press conference and analysts' meeting will be
available to the media via Fotopersbureau Dijkstra. For further
information: Fotopersbureau Dijkstra, telephone: Int. + 31 (0)297 56
68 83, E-mail: dykfoto@wxs.nl.

The following (high resolution) photographs of 2005 projects can be
offered free of copyright to the media via e-mail:
Arsenal Emirates Stadium, London, UK
Imtech was responsible for the innovative technology, including
security, in the stadium of Premier League football club Arsenal in
London.
Technology in the Stuttgarter Messe (exhibition centre), Germany
Imtech is responsible for part of the technology, including the
electronic security and futuristic communications solutions, in the
new 100,000 m² Stuttgarter Messe.
Comfort and safety on cruise liner 'Norwegian Jewel'
Imtech is responsible for the air conditioning, heating and fire
security on board the 294 metre long cruise liner 'Norwegian Jewel'.
The ship can carry 2,240 passengers.

For further information: Imtech Corporate Communications, telephone:
Int. + 31 (0)182 54 35 25, E-mail: info@imtech.nl.

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