Grontmij realises significant debt reduction;
focus on operational excellence remains key

De Bilt, 4 November 2013 - Grontmij N.V., a listed consulting & engineering company with strong European presence, today announces its third quarter 2013 results. Grontmij successfully reached an agreement and finalised the divestment of the French Monitoring & Testing business in the third quarter. With the proceeds being used to pay off debt, a significant net debt reduction was realised in the third quarter, strengthening Grontmij`s financial foundation. The reduction of trade working capital is developing in line with the year-end target, with a strong focus on cash. Total and net revenue in the third quarter remained solid, despite challenging market conditions across Europe. Grontmij reports organic growth on net revenue, driven by growth in Sweden, Germany and Other markets. Profitability improved slightly, albeit below our internal expectations, highlighting the necessity of the operational excellence (OPEX) programme that is currently being implemented across the Group.

Key points third quarter 2013

• Total revenue Q3 2013 € 179.2 million (Q3 2012: € 179.7 million), with organic growth in the third quarter of 1.6% on total revenue and 2.4% on net revenue, explained by growth in Sweden, Germany and Other markets and positively influenced by on average one additional working day compared to last year (effect +1.7%).

• EBITA excluding exceptional items for Q3 2013 of € 0.3 million (Q3 2012: - € 1.1 million), with stable to slightly improved profitability in most countries; EBITA margin excluding exceptional items of 0.2% (Q3 2012: - 0.6%).

• Net result in the third quarter improves to - € 8.1 million (Q3 2012: - € 13.0 million), also influenced by the partial hedge ineffectiveness of the interest rate swaps and the write down of capitalised financing fees (Q3 2013: - € 3.8 million).

• Significant reduction in net debt per 30 September 2013 with net debt at € 84.9 million (Q3 2012: € 147.8 million).

• Trade working capital at the end of Q3 2013 decreased to € 136.9 million (Q3 2012 € 143.6 million). Trade working capital as % of total revenue was 17.6% at the end of Q3 2013 (versus 18.3% in Q3 2012).

• Outlook for 2013 reconfirmed.

`Back on Track` strategy
Restructuring programme:

• Cost savings increased in the third quarter to € 23 million to date, representing an annual run-rate of € 26 million; Grontmij raises the cost savings target to € 28 - 30 million on an annualised basis.

• Divestments: Divestment of French M&T business successfully agreed and finalised, proceeds have been used to pay off debt. Sale of Naarderbos golf course agreed, awaiting mandatory approvals to finalise the divestment.