First quarter performance in line with expectations given hard winter conditions

• Construction and M&E services: continued deterioration in the Dutch market
• Civil engineering: mixed performance, with most businesses impacted by seasonality
• Property: Dutch residential market continues to fall as expected
• PPP: financial close on two projects; another two projects transferred to the joint venture
• Order book unchanged at €10.7 billion
• Financial position follows normal seasonal pattern
• New accounting standards adopted per 1 January 2013; comparable figures restated

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