Results first half year of 2008 remain high as a result of stable activities
Rotterdam, 7 August 2008
- Growth Harbour Towage due to the increase in URS shareholding.
- Terminals well on course.
- Salvage result in line with historic average.
- Transport result continues to grow.
- Moderate result for Heavy Lift due to lower vessel utilisation.
- Mid-year results 2008

Net profit remains unchanged despite decrease US dollar by 13%.
Net earnings per share decreases by 9% from EUR 3.00 to EUR 2.74 as a result of the issue of shares.
EBITDA (including associated companies) rises 21% from EUR 74.7 million to EUR 90.2 million.
Operating result increases 5% from EUR 46.8 million to EUR 49.0 million.
Result from associated companies decreases by 10% from EUR 13.1 million to EUR 11.8 million.
Compared with the first half year a marked higher net result is expected for the second half year.

Appointment CFO
During the Supervisory Board meeting of 6 August 2008 the decision was taken to appoint
Mr G. Bruinsma as CFO. As a result, the Strategic Committee being the organisation’s executive body is once again complete.

Outlook
A marked higher net result is expected for the second half year compared to the first half year. This expectation is based in part on the historic average for the Salvage Division of EUR 8 million for the second half of 2008.

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