HES BEHEER : Application of IFRS 11 to first-quarter figures - 101.96 KB

P R E S S R E L E A S E

Europoort/Rotterdam, 17 June 2014

A P P L IC A T I O N O F IF R S 1 1 T O F I R S T -

Q U A R T E R F IG U R E S

Following a review of the figures for the first quarter of 2014 in connection with the drafting of an offer memorandum, it has been decided to supplement the quarterly report of 25 April 2014 as follows:

If IFRS 11 had been applied to the figures for the first quarter of 2014 and the first quarter of 2013, the consolidated revenue would have been 12% higher, up from €14.8 million in the first quarter of 2013 to €16.5 million in the first quarter of 2014.

If IFRS 11 had been applied to the full rolling 12-month figures, the consolidated revenue would have been 25%

higher, up from €52.8 million for the period 1 April 2012 - 31 March 2013 to €66.0 million for the period 1 April 2013 -
31 March 2014.
The application of IFRS 11*, under which joint ventures are not proportionally consolidated, means that OBA,
Rotterdam Bulk Terminal and, in 2012, Botlek Tank Terminal are no longer 50% consolidated, which reduces HES Beheer's
consolidated revenue. The revenue growth under IFRS 11 is higher than that reported on 25 April 2014. The net profit is unaffected by IFRS 11.
Executive Board
H.E.S. Beheer N.V.

Note for editors

For further information, contact Ms E.L. Groenendijk, Director Special Projects, tel. [phone], e-mail [e-mail]
*HES Beheer will apply IFRS 11 to the 2014 half-year and full-year figures.