Getronics announces an update on its results for 2006 in advance of the release of its full results on 1 March 2007, in line with regulatory requirements.
2006 Key figures (unaudited1) (in millions of euros, unless stated otherwise) 2006 2005 Change Revenue2 2,627 2,525 4% • Service revenue 2,280 2,121 7% • Product revenue 347 404 - 14% Gross profit 525 532 - 1% Service gross profit 481 487 - 1% Selling, general & administrative expenses - 424 - 400 - 6% EBITAE3 117 143 - 18% Operating result 23 99 - 77% Net result from continuing operations -54 60 Net result including discontinued operations - 145 4 EBITAE margin 4.5% 5.7% Net borrowings - 285 - 157 Earnings per ordinary share from continuing operations (in euros) Basic - 0.44 0.54 Fully diluted - 0.44 0.54 Earnings per ordinary share from total operations (in euros) Basic - 1.18 0.03 Fully diluted - 1.18 0.03 1 This press release contains unaudited results. The Company’s audited results are expected to be published on 22 March 2007 as part of the publication of Getronics’ Annual Report 2006. 2 Reported revenue excludes revenue from the discontinued operations in Italy and France. 3 EBITAE: Operating result from continuing operations before amortisation of acquired intangible assets, acquisition integration expenses, impairment of goodwill and gain on sale of subsidiaries.

Highlights • Total revenue increased 4% to EUR 2,627 million, of which 0.8% organic growth on a comparable basis; service revenue increased by 7% to EUR 2,280 million. Organic service revenue growth was 2.3% on a comparable basis. • EBITAE declined by 18% to EUR 117 million which equals 4.5% of total revenue including EUR 38 million of employee benefit related gains of which EUR 15 million in curtailment gains. Other items included are EUR 14 million costs due to the transitioning of major workspace management contracts, as well as EUR 15 million exceptional corporate charges and initiatives. • The Company has today decided to record an impairment of goodwill of EUR 65 million with respect to its US, Belgian and UK operations. • The consolidated net loss for 2006 was EUR 145 million, including EUR 65 million impairment of goodwill and EUR 91 million loss from discontinued operations. Net result from continuing operations excluding the impairment of goodwill would therefore have been EUR 11 million. • Operating cash flow in the Company’s continuing operations and significant cash proceeds from divestments resulted in EUR 285 million of net debt at the end of 2006. Operating cash flow from continuing operations amounted to EUR 51 million (2005: EUR -5 million). • Getronics is working towards a 4.0% to 4.5% EBITAE margin in 2007, excluding one-off items, and expects, based upon this, to achieve a net profit in 2007, barring unforeseen circumstances.

CEO Comments
“2006 was a challenging year for Getronics. The unexpected serious losses in Italy in 2005 had unwelcome financial repercussions throughout the year. The operational performance in our key countries reflected the country-specific challenges they faced. Although we saw relatively good services revenue growth across most of our operating companies, we saw further price pressure on renewals, a larger number of subcontractors to address the demand, and a relatively large number of international client engagements in transition. Despite remaining committed to the growth in our business plans for the US, Belgium and the United Kingdom, we based the goodwill impairment testing on applying a more conservative outlook, leading to an impairment of EUR 65 million. 2006 was also a year of renewed determination, focus and progress. We took significant steps to build Getronics into a more profitable and focused international ICT services company. We accelerated the roll-out of our global service delivery model, enhanced our certified service partner network, strengthened our balance sheet through divestments, improved cash management and added a number of blue chip clients that helped validate our strategy. The highlight of 2006, in terms of our portfolio and offer development, was the launch of our innovative Future-Ready Workspace. The Getronics Future-Ready Workspace brings together market-proven solutions in an innovative modular architecture in order to provide a secure, flexible and reliable workspace. In 2006, we continued to validate our international focused business model and strategy with an improved commercial backlog and pipeline, and with notable wins particularly in the financial sector with the Barclays and ING deals totalling half a billion euros of revenue over the total contract period.
Our divestment programme served both to reduce financial risks with the sale of the Italian operations and to improve our debt profile with the sale of the profitable non-core businesses HRS and KZA in the Netherlands as well as our operations in Poland, Austria, the Czech Republic and Slovakia. Also, we created a strategic business partnership in France and, more recently, proposed a new strategic partnership with NTT Data Corporation in Japan. In addition, we successfully improved our cash flow management and refinanced our 2008 Convertible Bonds, putting the Company on a firmer financial footing. 2007 will be, above all else, about continuing to restore stakeholder value. We will work hard on executing our strategy. Over the course of the year, we expect to drive continued organic service revenue growth in all regions. We will also further strengthen our global workspace management leadership position, and complement and leverage this strength with our consulting and transformation, and application services. We will continue to strive to improve our margins and increase our operational cash flow generation.”

Other important developments
• With the Future-Ready Workspace, Getronics is leading the way in enabling workforce productivity. Getronics is also ideally positioned to meet client demand for controlled change, as the move to Microsoft Vista, Office and Exchange is expected to result in a wave of technology refresh and application re-platforming and packaging. • The Breakout Programme has been initiated throughout Getronics’ traditional managed services operations and has already resulted in improvement in North America. The implementation of the Breakout Programme for Europe and the Rest of the World is ongoing. • As part of its focused strategy, Getronics continued its efforts to create stronger businesses outside its key countries by merging or selling significant parts of the Getronics activities to well established local players. The creation of a strategic partnership in France with APX Synstar and recently the proposed partnership with NTT Data Corporation in Japan are examples of this. • Getronics launched EUR 95 million Senior Unsecured Convertible Bonds due 2014 and launched a successful Tender Offer for the 2008 Bonds, significantly improving the maturity profile of the Company’s balance sheet and reducing the Company’s cost of capital. Impairment of Goodwill As part of its annual accounting procedures, the Company has tested the goodwill of its various cash-generating units. The testing carried out this year was based on more conservative outlooks than the current business plans suggest, taking into account supporting historical evidence. As a result, the Company has today concluded that it will recognise an impairment charge of EUR 65 million with respect to its US, Belgian and UK operations. Outlook The level of contracted revenue and the quality of the commercial pipeline at the start of 2007 supports an improved organic service revenue growth. This growth will be driven by demand in workspace management, including the Future-Ready Workspace, security and transformation services. Although service revenue is important to our long-term success, the primary focus in 2007 will be on margin improvement and cash generation. In 2007, Getronics expects to see a margin improvement as a result of profitable organic growth and the Breakout Programme. Management is working towards an EBITAE range of between 4.0% and 4.5%, excluding one-off items. Getronics, as previously stated at the Extraodinary General Meeting of Shareholders on 1 December 2006, re-confirms its EBITAE margin target of at least 5% to be achieved by the end of 2008.

In addition, the Company will no longer issue revenue targets, as this is less relevant in the context of its focused strategy. As a result of this and following significant divestments executed, the previously communicated strategic target of EUR 4 billion in total revenue by the end of 2008 no longer applies. Also in 2007, Getronics may incur employee benefit plan related gains or losses as the Company looks to further reduce its exposure to such plans. Any such gains or losses may have material effects on the Company’s operating results. The Company will also continue to focus on its cash management programme, aiming to generate positive cash flows to support the target Debt/EBITDA ratio of 2 or less by the end of 2008. The Company is well positioned to successfully execute on its recently communicated strategy. The Board of Management feels confident that the Company will generate an operational performance in line with the outlook. By meeting its outlook, the Company expects to achieve a net profit in 2007, barring unforeseen circumstances.

Dividend
Taking into account that a net loss has been recorded in 2006, the Company will propose that no dividend be paid to the shareholders over the year 2006.

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The Supervisory Board of Getronics is pleased to announce the proposed appointment of Maarten Henderson (58) as Member of the Board of Management and Chief Financial Officer (CFO) of Getronics for an interim period ending on 30 June 2008.
At the Annual General Meeting of Shareholders of Getronics in April 2007, Maarten Henderson will be proposed for election to the Board of Management as of 1 April 2007. Mr Henderson, who has previously served as CFO of KPN and Nuon, joins Getronics from Debitel AG.

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