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April 7th, 2008
Océ Announces Q1 Results

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In
the first quarter two significant developments occurred: Firstly,
revenues from the sale of printers increased organically by 6%,
partly due to our successful partnerships. On the back of this good
sales performance Océ has gained market share in the wide
format, color and high volume cutsheet printing. Especially in Asia
we achieved excellent growth, whilst sales also increased in
Europe.

Highlights:

  • First
    quarter revenues grow organically by 1.3%; excluding fax by 1.8%

  • Revenues
    from sales of printers up organically by 5.9%, partly thanks to
    partnerships

  • Recurring
    revenues lag behind because of economic situation in US

  • Gross
    margin decreases to 38.5% [2007: 39.4%]

  • Operating
    income is € 32.1 million, excluding one-off items € 17.5 million

  • Extra
    cost reduction of € 50 million to € 80 million in 2008

Comments
by Rokus van Iperen, chairman of the Board of Executive
Directors:
‘In the first quarter two significant
developments occurred:

Firstly, revenues from the sale of
printers increased organically by 6%, partly due to our successful
partnerships. On the back of this good sales performance Océ
has gained market share in the wide format, color and high volume
cutsheet printing. Especially in Asia we achieved excellent growth,
whilst sales also increased in Europe.

Secondly, we felt the
effects of recent economic developments. Especially in the financial
sector the purchase of new very high volume printers was postponed.
Océ traditionally holds a strong position in this sector.
There was also a decrease in printing volume at banks and in the
construction sector, particularly in the United States, which meant
that revenues from maintenance, toner and media lagged behind those
of the previous year.

In 2007 Océ successfully started
the implementation of the Strategic Plan 2007-2010. We are continuing
to invest in expanding our distribution power and developing
competitive products. In addition we are intensifying the
co-operation with our partners both in distribution and in product
development. Due to the economic uncertainty additional measures are
taken to reduce costs further. The aim for total 2008 is to realize
an extra cost reduction of € 30 million to a total of € 80
million.’

Disclaimer

Disclaimer
for quarterly reports (Safe Harbor Statement)

 


Océ
N.V.
3 April 2008

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