www.realdolmen.com
Van idee tot economische realiteit
VKW – juni 2009
Deze presentatie staat online op
http://www.slideshare.net/realdolmen
JUNE 9, 2009 | SLIDE 1

HISTORY
1997
Listing on EuroNext
Brussels
2004 – 2007
Sep 2008
Restructuring
2007 - 2008 Announcement Merger
1986 Establishing solid
Growth and return to
Start of Real Software platform for growth
sound operations
NV
2007
2001 – 2004 €75 mio convertible bond
Distressed situation Acquisition Axias Dec 2007
Investment by Gores Announcement Project
1982
2004 2007
Start of Dolmen NV out of
Acquisition JCS Acquisition NEC Philips
Colruyt IT department
1999
Listing on EuroNext
Brussels
JUNE 9, 2009 | SLIDE 2

From: Segers Bruno
Sent: woensdag 12 december 2007 22:52
To: Abdo Ashley
Subject: Diesel Romeo honeymoon hotel
Ashley,
As discussed.
All details about Hotel De Schelde via this link http://www.hoteldeschelde.nl/nl/ As it’s only in Dutch a few additional comments
I know this hotel, small, modest and cheap (Jef will like this)
It’s not in Belgium (they will not know us)
It’s 1 hour drive from Brussels and 1 hour drive from Antwerp
They have wireless
They have a few meeting rooms
We can eat, swim, drink, sauna and go for bowling
If we don’t have a solution for big problems we can go for a beachwalk to catch fresh air
They still have 10 rooms available this Friday and/or Saturday
We can meet and work there
We can work and meet full days while our partners (even children) could enjoy the environment (if we decide to do this)
Jef and Francois could join us Saturday night for dinner
Etc …
I took an option for at least 10 rooms this Saturday. Ideally we should bring the new mgt team and the merger taskforce together in this warroom concept. We will save
a lot of money and time while we start building the Newco Mgt Team in one go.
Think about it.
Bruno
PS If needed some of us can go there as from Friday night to prepare while we start formally Saturday at 10 AM and end Sunday night at …
JUNE 9, 2009 | SLIDE 3

Timeline
Diesel Project
14-21 December 2007
December 14-19 Complete Business Plan & NewCo Presentation
Complete Draft Prospectus
Complete Antitrust Filing
December 19 3pm Present to Board Diesel – Obtain Support Letter
8pm Present Board Romeo – Approve Prospectus
December 20 AM Present Draft Prospectus and Industrial Project to CBFA
December 21 AM Public Announcement of Deal by CBFA
9am Work’s Counsel Briefings
10am Press Conference
12pm Analysts
3pm Associates
December 25 Enjoy Christmas with Families
JUNE 9, 2009 | SLIDE 4

KEY MILESTONES – FROM PROJECT TO NV
Announcement of the tender offer
 December 21, 2007
and subsequent merger
CBFA approval and publication of the
 February 20, 2008 prospectus
 March 5, 2008 Closing of the tender acceptance
period
Successfull closing of the tender
 March 26, 2008
offer with 82,45% Dolmen shares
tendered
Extraordinary General Assembly of
 September 1, 2008 Shareholders to approve the merger
JUNE 9, 2009 | SLIDE 5

REALDOLMEN HAS A CLEAR VISION AND MISSION
 Vision: To be the reference in the local market for
integrated solutions supporting the complete ICT-
lifecycle.
 Reference: be the preferred & trusted choice for
customers, partners and employees
 Local: proximity to our customers in the Benelux and France
 Integrated solutions: complete ICT offering covering the full
lifecycle, including infrastructure, applications and
communications
 Complete ICT-lifecycle: supporting all plan-build-operate
activities
 Mission: RealDolmen’s mission is to enable its clients
to achieve their objectives by optimizing their business
processes through innovative, effective and reliable ICT
solutions.
JUNE 9, 2009 | SLIDE 6

REALDOLMEN HAS MORE THAN 10000 MANYEARS OF EXPERIENCE
BILLABLE YEARS OF
EMPLOYEES PER AGE SERVICE
CATEGORY 5033
3271
EDUCATION
81% 19%
80% 20%
JUNE 9, 2009 | SLIDE 7

REALDOLMEN HAS EXTENDED GEOGRAPHICAL
COVERAGE
Belgium
Luxemburg
France
JUNE 9, 2009 | SLIDE 8

REALDOLMEN HAS A SINGLE-SOURCE OFFERING
Business Solutions
 Turnkey Solutions  Service Oriented Architecture
 Enterprise Resource  Unified Communications
Planning  Supply Chain Mgmt
 Customer Relationship  CAD/GIS
Management  Mobility
 Business Intelligence  Enterprise Asset Mgmt
 ECM/WCM  Clinical Trial Mgmt Systems
 Web Solutions
Solutions built with own software or on top of 3rd party platforms. In this area
we sell services and products (such as 3rd party software or own IP) under the
form of licenses.
Professional Services
 Development  Networking
 Outsourcing  Testing
 Managed Services  Support & Helpdesk
 Project Management  Security
 Training Services  Enterprise Application Integration
 Business Process  Service Oriented Architecture
Management
Encompasses services (both development and infrastructure competences) and
products (own IP under the form of courseware, development methodologies,
project management methodologies, building blocks, etc).
Infrastructure Products
 Data Center  IP Communications
 Front-end  Voice Over IP
 Networking  Security
Hardware products and software licenses
JUNE 9, 2009 | SLIDE 9

A SOLID AND REFERENTIAL CUSTOMER BASE IN BOTH THE
MID-MARKET AND LARGE ACCOUNTS
Government/Healthcare/Education
Logistics and Distribution Industry
Services Life Science
JUNE 9, 2009 | SLIDE 10

REALDOLMEN IS A REFERENCE PARTNER
JUNE 9, 2009 | SLIDE 11

GOOD REVENUE SPREAD ACROSS SECTORS
Services Services
Government
(Financial) (Other)
/ Healthcare
7% 19%
/ Education
33%
Industry
29% Telecom
Distribution 3%
/ Logistics /
Energy
9%
JUNE 9, 2009 | SLIDE 12

COMPLEMENTARY SHAREHOLDER OWNERSHIP
Cegeka Institutionals (2)
4% 5%
Fam. Colruyt (3)
16%
The Gores Group
(1)
28%
Free Float
47%
Notes:
These figures (dating from 28/4/2009) represent the shareholdings on a non-diluted basis, i.e. without taking into account the possible conversion of warrants, convertible bonds or other financial instruments which may result in the creation of
RealDolmen shares. They are based on the shareholder's declarations made in accordance with the applicable transparency legislation, whi ch are also made available on thewebsite.
(1) Includes stock held by Gores (Real Holdings LLC) and KBC Financial Products. Further to the issuance of the 2007 Convertible Bond, Real Holdings LLC and KBC Financial Products have entered into a stock loan agreement according to which
KBC FP has currently borrowed up to 40 million shares for up to 3 years. According to their most recent declarations, Gores and KBC Financial Products respectively hold 20,46% and 7,51% of the issued share capital.
(2) “Institutionals” includes Fortis Investment Management NV, holding 3,00% of the issued share capital, Deutsche Bank AG, holding 2.64% of the issued share capital, and KBC (other than KBC Financial Products, which is already taken into account
under (1)), holding 0,20% of the issued share capital.
(3) “Colruyt” refers to a number of related parties that made a joint declaration, the details of which are available on the website.
JUNE 9, 2009 | SLIDE 13

www.realdolmen.com
Van idee tot economische realiteit
JUNE 9, 2009 | SLIDE 14

ONE OF THE TOP INDEPENDENT ICT SUPPLIERS IN
BELGIUM
Microsoft 34.00%
Belgacom 31.00%
HP 30.00%
IBM 19.00%
Cisco 14.00%
Oracle 10.00%
SAP 10.00%
Telenet 7.00%
RealDolmen 6.00%
Mobistar 6.00%
Siemens IT Solutions 5.00%
Sun 4.00%
Econocom 4.00%
Cronos 4.00%
Accenture 4.00%
Atos Origin 4.00%
Siemens Enterprise 4.00%
Avaya 3.00%
Xerox 3.00%
Verizon 3.00%
Results are based on a Data News survey amongst 1.100 Belgian companies inquiring about their top 3 most important suppliers.
© Data News, May 2009.
JUNE 9, 2009 | SLIDE 15

€40,5
€34,8 mio
TURNOVER FY 2007/08 TO FY 2008/09 mio
Business Solutions
FY FY
2007/08 2008/09
€251,5 €265,6
mio mio
€142,0
€138,4 mio
mio
Professional
FY
2007/08
Services
FY
2008/09
FY FY
2007/08 2008/09
Total Group
€83,1
€78,3 mio
mio
Infrastructure Products
FY FY
2007/08 2008/09
JUNE 9, 2009 | SLIDE 16

11,8%
10,5%
MARGINS 10,1%
8,8%
4,2%
3,4%
FY FY FY FY FY FY
2007/08 2008/09 2007/08 2008/09 2007/08 2008/09 -1,6% -2,5%
FY FY
Infrastructure Professional Business 2007/08 2008/09
Products Services Solutions
5,9% 6,0%
Corporate
FY FY
2007/08 2008/09
JUNE 9, 2009 | SLIDE 17
Total Group

In Q3, the company has taken
CASH/DEBT POSITION advantage of the depressed
environment in the convertible
€74,6 bond market to buy back
€73,7
mio
mio €31,5mio worth of its € 75mio
senior unsecured convertible
€14,8
€16,7
mio
mio bond note.
€54,9
mio
€36,6 €57,0 €18,4
€34,6 €59,9
mio mio €33,1 mio
mio mio
mio
€36,5
mio
March ‘08 September ‘08 March ‘09
2,0 2,2 1,2 Net debt
Ebitda
Cash (2)
Convertible debt (July 2012)
Other debt
(1) Shows impact of buy-back convertible in October and December on September close numbers
(2) Cash = Cash + Assets held for trading
JUNE 9, 2009 | SLIDE 18

NET PROFIT BREAKDOWN
REBIT Non recurring Financial Result Taxes Net Profit
€26,8
+€1,0 mio -€1,3 mio +€8,5 mio -€17,1 mio mio -€8,9 mio
€18,8
mio
OUTLOOK: OUTLOOK: OUTLOOK:
Under pressure, further Will increase because CB buy back will €23,6 mio
cost optimization of optimization reduce cost by DTA
planned program additional €2,2m €17,9
mio
€15,9
€14,9 mio
mio
OUTLOOK:
Further reduce based
on planned merger of
operational units in BE
€3,5 next year
mio
€9,8 mio
CB buy
back
€1,7
mio
€2,7 mio
€-1,9 €-3,2 €-5,0 DTA
FY FY
FY FY mio FY
2007/08 2008/09
mio mio 2008/09
2007/08 2008/09
€-1,0 mio
FY
€-5,0 mio €-6,3 mio €-4,8 mio Taxes
2007/08
FY Fin. result Fin. result Taxes
2008/09
FY
FY 2007/08
2007/08
FY
JUNE 9, 2009 | SLIDE 19 2008/09

SUCCESFULL MERGER
 Divisions now organised & aligned
 Cross-selling opportunities are being converted
 Synergy benefits anticipated next FY, in-line with
expectations
 Number of employees reduced by 65 due to hiring
freeze and optimizations
 No increase in attrition due to merger. Attrition is
declining due to economic downturn
JUNE 9, 2009 | SLIDE 20

GROWTH STRATEGY
 Strategy remains unchanged – pursuit of organic growth
with small acquisitions where appropriate
 Operate a streamlined organization with optimal
framework for growth following optimization &
integration projects
 Current economic environment presents opportunities
to continue to build market share through carefully
chosen bolt-on acquisitions
JUNE 9, 2009 | SLIDE 21

SUMMARY & OUTLOOK
 Solid first RealDolmen year
 Turnover up 5,6%
 REBIT +7,0% , with margins up to 6,0% despite incurred integration
costs
 Strong cash position with €19,3mio operational cash flow
 Net debt position reduced by €15,3mio as a result of buy back of
convertible bond and strong operational cash flows
 Reverse stock split
 Integration on track
 Integration almost completed and additional cost improvement plans
taking effect
 Well positioned for the future
 Good spread of customers - healthy revenue mix with over 33% in
public sector and limited presence in financial sector (<7%)
 Strong balance sheet and sound cash position
 Market leadership and strong offering
JUNE 9, 2009 | SLIDE 22

SIMPLE for the for partners
GREEN
HOME
SHOWCASE environment
CAMPUSemployees
our customers
for all
ROCK-SOLID PASSION for ICT
JUNE 9, 2009 | SLIDE 23