Improvement of business processes
Oce is improving its business processes via a number of centrally co-ordinated projects. In the first quarter of 2008 Oce realized cost savings of Euro 10 million compared to 2007.
This program is aimed at achieving a saving of Euro 50 million in 2008. We have also identified additional improvement possibilities via increased efficiency throughout the company and the reduction of out of pocket expenses. This is why Oce has meanwhile initiated measures which, excluding restructuring costs, will yield an additional saving of Euro 30 million in 2008. The total amount of cost savings for 2008 is expected to be Euro 80 million. These cost savings are exclusive of volume effects and inflation.
April 23, 2008: General Meeting of Shareholders
The annual meeting of shareholders will be held on April 23, 2008 in Venlo. The registration date for this meeting is April 16, 2008. The agenda and the registration procedure have been posted on-line on our website www.investor.oce.com.
Outlook
The Strategic Plan 2007-2010 is being executed further. This implies that, together with partners, we will further increase the strength of our sales organization and product portfolio. Because of the uncertain development of the world economy, extra actions are taken aimed at additional cost reduction to realize total savings of Euro 80 million in 2008.
Board of Executive Directors Oce N.V. April 3, 2008
Keys to terminology:
Organic growth: the development of the results after adjustment for exchange rate effects and large sales and acquisitions.
RoCE Return on Capital Employed: operating income for the year, after normalized taxes (20%) as % of Net Capital Employed (total assets excluding cash and cash equivalents, minus non-interest bearing liabilities corrected for derivatives).
Wide Format printing: wide format printing (larger than A3).
The full report can be downloaded at the international website http://www.oce.com/en/Investor/QR/2008-Q1.htm
About Oce
Oce N.V. is a leading international provider of digital document management technology and services. The company's solutions are based on Oce's advanced software applications that deliver documents and data over internal networks and the Internet to printing devices and archives -- locally and around the world. Supporting the workflow solutions are Oce digital printers and scanners, considered the most reliable and productive in the world. Oce also offers a wide range of display graphics, consulting and outsourcing solutions.
Oce employs around 24,000 people, with 2007 revenues of approximately $4.6 billion, operates in more than 90 countries and maintains research and manufacturing centers in the Netherlands, the United States, Canada, Germany, France, Belgium, the Czech Republic, Romania and Singapore. Oce North America is headquartered in Trumbull, CT, with additional business units in Chicago, IL; New York City; Boca Raton, FL; Salt Lake City, UT; Coventry, RI; and Vancouver, BC. North American revenues represented approximately half of Oce's worldwide business in 2007, and employment is currently 11,000. For more information about Oce, visit www.oceusa.com. Outside the U.S., consult www.oce.com.
Contact:
Océ N.V.
U.S. Media:
Jim Magrone,
203-365-2361
or
Investor
Relations:
Carlo Schaeken, Vice President
Investor
Relations
+ 31 77 359 2240
Email Contact
or
Press:
Jan
Hol, Senior Vice President
Corporate Communications
+ 31 77
359 2000
Email Contact
