Exhibit 99.2
Provisional results fourth quarter and 2006 financial year*
Océ closes 2006 better than expected
| Salient figures | Fourth quarter | Financial year | ||||||||||||
| In million € | 2006 | 2005** | D | 2006 | 2005** | D | ||||||||
Total revenues | 832.1 | 764.4 | 8.8 | % | 3,110.3 | 2,677.3 | 16.2 | % | ||||||
EBITDA | 97.4 | 111.2 | –12.4 | % | 306.1 | 257.0 | 19.1 | % | ||||||
EBITA | 55.9 | 75.9 | –26.4 | % | 141.1 | 130.2 | 8.4 | % | ||||||
Operating income (EBIT) | 43.8 | 70.6 | –38.0 | % | 102.2 | 112.5 | –9.1 | % | ||||||
Net income | 26.7 | 52.1 | –48.7 | % | 57.1 | 82.2 | –30.5 | % | ||||||
Normalised operating income | 48.7 | 35.4 | 37.7 | % | 113.2 | 77.3 | 46.4 | % | ||||||
In € per share | ||||||||||||||
EBITDA | 1.16 | 1.33 | –12.6 | % | 3.65 | 3.07 | 18.8 | % | ||||||
Net income to holders of ordinary shares | 0.28 | 0.61 | –53.5 | % | 0.63 | 0.93 | –31.7 | % | ||||||
| * | The figures in this report are provisional and unaudited. The report has been prepared on the basis of IFRS. In the 2005 results Océ Imagistics was included as from November 1, 2005; for the 2006 financial year it was included for the full year. |
| ** | Recalculated on the basis of IFRS (see press release dated March 31, 2006 and website www.investor.oce.com). |
Highlights
| • | Fourth quarter better than expected. |
| • | Normalised operating income up by 37.7%. |
| • | Strong positive free cash flow (€ 127 million). |
| • | Integration of Océ Imagistics completed and synergies achieved. |
Comments by CEO Rokus van Iperen:
‘The Strategic Business Unit Wide Format Printing Systems delivered good results in the fourth quarter and for 2006 as a whole. The Strategic Business Unit Digital Document Systems booked a slightly better result in the fourth quarter, but its performance for the full year was lower than expected. This was attributable in particular to delivery and product issues which have meanwhile been almost fully solved. The integration of Imagistics was successfully completed ahead of schedule and the anticipated synergies have been achieved.
Our three strategic thrusts continue to be: increasing our distributive strength, ongoing innovation of our product range and optimising our business processes. Within Digital Document Systems the successful Imagistics model will also be implemented in Europe so as to improve profitability. In addition our product range will consist of a well balanced mix of our own printing systems and printers sourced from third parties. In developing our own products we will focus on high volume and wide format printers.’
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Normalised operating income higher
| Fourth quarter | Financial year | |||||||
| In million € | 2006 | 2005 | 2006 | 2005 | ||||
Operating income | 43.8 | 70.6 | 102.2 | 112.5 | ||||
Release from pensions | –2.7 | –68.3 | –16.5 | –68.3 | ||||
Restructuring and integration costs | 6.1 | 33.1 | 18.0 | 33.1 | ||||
| 47.2 | 35.4 | 103.7 | 77.3 | |||||
Costs of share-based schemes (difference compared to 2005) | –0.3 | — | 1.1 | — | ||||
Lease revenues (difference compared to 2005) | 1.8 | — | 8.4 | — | ||||
Normalised operating income | 48.7 | 35.4 | 113.2 | 77.3 | ||||
Fourth quarter: better than expected
Total revenues in the fourth quarter increased by 8.8% to € 832.1 million. Excluding exchange rate effects the increase amounted to 11.4%.Non-recurring revenues increased by 9.9% (excluding exchange rate effects the increase was 11.7%).Recurring revenueswere 8.3% higher (up 11.2% excluding exchange rate effects). In the table on page 9 we give an indication of the development of total revenues after adjustment for the effects of the Imagistics acquisition and exchange rates.
As can be seen from that table, total indicative revenues were 1.4% higher, with non-recurring revenues gaining 2.5% and recurring revenues up by 0.8%.
Thegross margin increased by 1.8% from 40.7% to 42.5%. The increase is the result of volume mix effects (0.8%). Hedge results contributed 1.0% to the increase in the gross margin.
Operating expenses were lower as a result of the restructuring operation initiated in 2005. Additionally, exchange rate effects had a positive impact on the development of expenses.
During the quarter € 13 million was capitalised on R&D costs.
This is € 5 million higher than in the third quarter, specifically because of the introduction of the Océ VarioPrint 6250. As a result, relatively higher than normal development costs were incurred in the fourth quarter.
Operating income decreased from € 70.6 million to € 43.8 million.
The normalised operating income, as shown above, provides a better insight into how the business developed.
Normalised operating income increased from € 35.4 million in the fourth quarter of 2005 to € 48.7 million in the fourth quarter of 2006.
Financing expenses in the fourth quarter amounted to € 12.9 million.
Taxeswere €4.2 million.
Net income amounted to € 26.7 million (2005: € 52.1 million).
Net income per ordinary share outstanding amounted to € 0.28.
Strategic Business Unit Digital Document Systems: financial results slightly improved
Revenues in theStrategic Business Unit Digital Document Systems (DDS) grew by 12.0% to € 598.5 million. This increase was primarily due to the acquisition of Imagistics (approx. 14%). Exchange rate effects were 2.5% negative.
Non-recurring revenues increased by 13.3%.
After adjustment for exchange rate effects (–1.7%) and acquisition effects non-recurring revenues increased by approx. 1.5%. This increase has to be compared with what was also a very strong fourth quarter in 2005.
Recurring revenues increased by 11.4%. After taking into account the revenues that resulted from the acquisition of Imagistics and the effects of exchange rates (–2.9%) recurring revenues remained stable compared to the fourth quarter of 2005. The trend in recurring revenues excluding currency effects shows an improvement on a year-on-year basis (2006:– 0.5%; 2005:–3.8%).
The operating income (EBIT) of DDS amounted to € 20.1 million (2005: € 40.5 million).
Normalised EBIT was € 25.2 million (2005: € 19.0 million).
The integration of Océ Imagistics within Océ North America has been completed. Imagistics delivered a solid financial performance.
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The business synergies of € 5 million planned for 2006 have been realised. The cost savings achieved during 2006 amounted to € 12 million, which was higher than anticipated.
Strategic Business Unit Wide Format Printing Systems: another strong quarter
In theStrategic Business Unit Wide Format Printing Systems (WFPS) revenues grew by 1.5% to € 233.6 million. Excluding exchange rate effects, revenues were 4.0% higher.
Non-recurring revenues increased by 2.4% (excluding exchange rate effects, by 4.4%). This increase in revenues was due in particular to our success in selling colour machines and the ongoing updating of our innovative black and white printers. Recurring revenues also developed well and increased by 1.0% (excluding exchange rate effects, by 3.4%).
Revenues from service contracts, toner and ink as well as total revenues in the Imaging Supplies business group showed healthy growth.
Operating income amounted to € 23.7 million (2005: € 30.1 million). The normalised operating income increased from € 16.4 million to € 23.5 million.
Thanks to successful black and white and colour products Océ has succeeded in gaining market share in Technical Document Systems. Particularly in the colour market the Océ TCS300 and Océ TCS500 have been very successful.
Provisional results 2006 financial year
Total revenues in 2006 increased by 16.2%. Excluding acquisition and exchange rate effects the increase was 0.3%.
Non-recurring revenues were up by 14.9%. This growth in revenues was due entirely to the acquisition of Imagistics.
Recurring revenues increased by 16.7%. Excluding acquisition effects (15.6%) and exchange rate effects the increase amounted to 0.8%.
The gross margin amounted to 42.1% (2005: 41.5%). This margin increase resulted from the acquisition of Imagistics.
Operating expense as a percentage of total revenues amounted to 38.8%. During 2006 a total amount of € 25 million net was capitalised on R&D costs.
With effect from December 1, 2005 the gross margin and operating expenses of Océ Imagistics have been reported in line with those of the Océ Group (see page 11).
Theoperating income for the year 2006 was € 102.2 million (2005: € 112.5 million).
EBITDA amounted to € 306.1 million, an increase of 19.1% compared to 2005 (€ 257.0 million).
Net incomewent down from € 82.2 million to € 57.1 million.
Net income per ordinary share amounted to € 0.63 (2005: € 0.93).
Strategy 2007-2010
Océ offers customers a complete spectrum of innovative products and services consisting of a well balanced mix of products it has developed itself and high quality products sourced from third parties.
Our direct sales and service organisation, together with carefully selected distributors, ensure that service to each customer is optimal.
The strategy is focused on value creation through growth. The three strategic thrusts aimed at achieving profitable growth are: distributive strength, competitive products and the optimisation of business processes. Océ has various operational excellence projects for the optimisation and harmonisation of business processes as well as the supporting ICT and the optimisation of working capital. The aim of these projects is a cost reduction of € 75 million to € 100 million in 2010 compared to the cost level in 2006.
Digital Document Systems
To improve the competitive position of DDS the concept of the balanced product mix will be fine-tuned further in the years ahead. More than in the past, third-party (OEM) products will be included in the range. This model is already being applied in the United States by Océ Imagistics and will also be rolled out in Europe during 2007. In this way Océ will be able to offer the customer the best possible product range. Partly thanks to the use of open architecture software developed by the company itself and marketed under the PRISMA brand, the fleet of installed printers will link up seamlessly with the customer’s document requirements and will be constantly brought into line with the evolving needs. Our integrated workflow software is also compatible with OEM systems and those of our competitors.
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In combination with the increase in our distributive strength, this strategy will lead to the required growth in the fleet of installed machines and the related improvement in the degree of capacity utilisation of the service organisation, particularly for the Corporate and Commercial Printing Systems business groups.
Océ Business Services will further strengthen this model by offering an integrated concept that will guarantee that the customer is provided with the best possible service in the area of documents and document management.
Wide Format Printing Systems
In WFPS the distributive strength will be further boosted by expanding both the direct and the indirect sales channels in Asia. In WFPS, too, the balanced product mix concept will be applied, specifically in Display Graphics.
Financial objectives
The financial objectives for the 2007-2010 period are an average organic revenues growth of at least 5% per year, maintaining the level of the relative gross margin and a Return on Capital Employed (RoCE) of at least 13% by 2010.
Balance sheet and cash flow
Thebalance sheet total at the end of 2006 amounted to € 2,652 million. Due to exchange rate changes and a reduction of the working capital, total assets decreased by € 195 million compared to the 2005 year end. Net Capital Employed (excluding cash) was € 161 million lower at the end of 2006 compared to the end of 2005.
The development of the balance sheet has made a substantial contribution to free cash flow, which amounted to € 127 million in the fourth quarter and € 119 million for the full year.
Proposed dividend for 2006: € 0.58 per ordinary share
Océ proposes to shareholders that the dividend for 2006 be maintained at € 0.58 per ordinary share of € 0.50 nominal. If this proposal is accepted, the final dividend per ordinary share for 2006 will amount to € 0.43 in cash. The interim dividend for 2006 amounted to € 0.15 per ordinary share.
April 19, 2007: General Meeting of Shareholders
The Annual General Meeting of Shareholders will be held on April 19, 2007 in Venlo.
The agenda for the meeting will be published on March 15, 2007. The annual report will be available on-line as from February 1, 2007 on the website: www.investor.oce.com
Outlook 2007
We will continue to implement our strategy of expanding distribution strength, launching innovative new products and optimising our business processes.
We are convinced that this strategy will enable us to create significant value for our customers, employees and shareholders.
At the moment the Board of Executive Directors is not making a prediction of the 2007 full year results.
Board of Executive Directors Océ N.V.
January 15, 2007
For further information:
Investor Relations:
Pierre Vincent / Carlo Schaeken
Investor Relations
Venlo, The Netherlands
Telephone +31 077 359 2240,
E-mail investor@oce.com
Press:
Jan Hol
Senior Vice President
Corporate Communications
Venlo, The Netherlands
Telephone +31 77 359 2000
E-mail jan.hol@oce.com
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Consolidated Statement of Operations
| Period December 1, 2005 to November 30, 2006* | Fourth quarter | Financial year | ||||||||
| In million € | 2006 IFRS | 2005 IFRS | 2006 IFRS | 2005 IFRS | ||||||
Total revenues | 832.1 | 764.4 | 3,110.3 | 2,677.3 | ||||||
Cost of sales | –478.6 | –453.1 | –1,801.1 | –1,566.6 | ||||||
Gross margin | 353.5 | 311.3 | 1,309.2 | 1,110.7 | ||||||
Selling and marketing expenses | –183.1 | ��162.9 | –712.6 | –617.7 | ||||||
Research and development expenses | –53.8 | –48.1 | –225.0 | –234.8 | ||||||
General and administrative expenses | –72.8 | –29.7 | –269.4 | –145.7 | ||||||
Operating expenses | –309.7 | –240.7 | –1,207.0 | –998.2 | ||||||
Operating income | 43.8 | 70.6 | 102.2 | 112.5 | ||||||
Financial expenses (net) | –12.9 | –8.0 | –46.0 | –18.6 | ||||||
Share in income of associates | — | 0.2 | 0.5 | 0.6 | ||||||
Income before income taxes | 30.9 | 62.8 | 56.7 | 94.5 | ||||||
Income taxes | –4.2 | –10.7 | 0.4 | –12.3 | ||||||
Net income | 26.7 | 52.1 | 57.1 | 82.2 | ||||||
Net income attributable to | ||||||||||
Shareholders | 24.5 | 51.5 | 55.0 | 79.9 | ||||||
Minority interest | 2.2 | 0.6 | 2.1 | 2.3 | ||||||
Net income | 26.7 | 52.1 | 57.1 | 82.2 | ||||||
Free cash flow | 127.2 | –520.1 | 118.5 | –507.5 | ||||||
Average number of ordinary shares outstanding (x 1,000) | 83,974 | 83,762 | 83,899 | 83,698 | ||||||
Per ordinary share in € | ||||||||||
Net income attributable to holders of ordinary shares | 0.28 | 0.61 | 0.63 | 0.93 | ||||||
| * | Reconciliation gross margin and operating expenses after reallocation of the costs of Océ Imagistics see page 11 |
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Consolidated Balance Sheet
End of financial year | Opening balance | End of financial year | ||||
In million € before net income appropriation | 2006 IFRS | 2006 IFRS | 2005 IFRS | |||
Assets | ||||||
Intangible fixed assets | 548 | 562 | 562 | |||
Property, plant and equipment | 428 | 455 | 455 | |||
Rental equipment | 112 | 124 | 124 | |||
Investment in associates | 2 | 1 | 1 | |||
Deferred income tax assets | 84 | 124 | 121 | |||
Available for sale financial assets | 9 | 10 | — | |||
Derivative financial instruments | 7 | 9 | — | |||
Trade and other receivables | 209 | 209 | 210 | |||
Other financial assets | — | — | 18 | |||
Total non-current assets | 1,399 | 1,494 | 1,491 | |||
Inventories | 341 | 363 | 363 | |||
Derivative financial instruments | 10 | 6 | — | |||
Trade and other receivables | 729 | 791 | 790 | |||
Current income tax receivables | 79 | 60 | 60 | |||
Cash and cash equivalents | 85 | 143 | 143 | |||
Total current assets | 1,244 | 1,363 | 1,356 | |||
Non-current assets held for sale | 9 | 10 | — | |||
Total assets | 2,652 | 2,867 | 2,847 | |||
Equity and liabilities | ||||||
Equity attributable to shareholders | 684 | 648 | 711 | |||
Minority interest | 37 | — | 37 | |||
Total equity | 721 | 648 | 748 | |||
Borrowings | 533 | 333 | 227 | |||
Derivative financial instruments | 5 | — | — | |||
Retirement benefit obligations | 421 | 433 | 433 | |||
Trade and other liabilities | 15 | 6 | 6 | |||
Deferred income tax liabilities | 97 | 65 | 65 | |||
Provisions for other liabilities and charges | 54 | 54 | 54 | |||
Total non-current liabilities | 1,125 | 891 | 785 | |||
Borrowings | 180 | 669 | 669 | |||
Derivative financial instruments | 4 | 16 | — | |||
Current income tax liabilities | 2 | 4 | 4 | |||
Trade and other payables | 591 | 585 | 587 | |||
Provisions for other liabilities and charges | 29 | 54 | 54 | |||
Total current liabilities | 806 | 1,328 | 1,314 | |||
Total equity and liabilities | 2,652 | 2,867 | 2,847 | |||
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Changes in shareholders’ equity
| Financial year | Financial year | |||
| In million € | 2006 IFRS | 2005 IFRS | ||
Balance at November 30, 2005 and 2004 respectively | 711 | 714 | ||
Transition to IFRS (excluding IAS 32 and IAS 39) | — | –70 | ||
Transition to IAS 32 and IAS 39 | –63 | — | ||
Balance at December 1, 2005 and 2004 respectively | 648 | 644 | ||
Net income attributable to shareholders | 55 | 80 | ||
Dividend | –51 | –50 | ||
Share-based compensation | 6 | 4 | ||
Purchase of treasury shares | — | –2 | ||
Reclassification of financing preference shares | 59 | — | ||
Cash flow hedges | 10 | — | ||
Currency translation differences | –43 | 35 | ||
Balance at November 30, 2006 and November 30, 2005 respectively | 684 | 711 | ||
Indicative revenues growth (excluding exchange rate effects and acquisitions)
| Fourth quarter | Financial year | |||
| As percentage | 2006 | 2006 | ||
Non-recurring revenues | ||||
Digital Document Systems | 1.5 | –4.5 | ||
Wide Format Printing Systems | 4.4 | 6.5 | ||
Total | 2.5 | –0.9 | ||
Recurring revenues | ||||
Digital Document Systems | — | –0.5 | ||
Wide Format Printing Systems | 3.4 | 3.3 | ||
Total | 0.8 | 0.8 | ||
Revenues growth | ||||
Digital Document Systems | 0.5 | –1.5 | ||
Wide Format Printing Systems | 3.7 | 4.3 | ||
Total | 1.4 | 0.3 | ||
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Consolidated Cash Flow Statement
Period December 1, 2005 to November 30, 2006 in million€ | Financial year 2006 IFRS | Financial year 2005 IFRS | ||
Income before income taxes | 57 | 94 | ||
Adjustments for: | ||||
Depreciation and amortisation | 204 | 144 | ||
Impairment | — | 1 | ||
Share-based compensation | 2 | 1 | ||
Share in income of associates | –1 | –1 | ||
Other | — | — | ||
Changes in provisions, rental equipment and working capital: | ||||
Retirement benefit obligations | –9 | –65 | ||
Provision for other liabilities and charges | –22 | 16 | ||
Other provisions (for inventories, finance lease and trade receivables) | 28 | 21 | ||
Rental equipment | –67 | –49 | ||
Inventories | –9 | 16 | ||
Finance lease receivables | –13 | 6 | ||
Trade and other receivables (excluding finance lease receivables) | –9 | –24 | ||
Trade and other liabilities | 32 | 23 | ||
Income taxes | 45 | –20 | ||
Cash flow from investing activitities | 238 | 163 | ||
Investment in intangible assets | –64 | –15 | ||
Investment in property, plant and equipment | –83 | –97 | ||
Divestment in intangible assets | — | — | ||
Divestment in property, plant and equipment | 8 | 11 | ||
Change in other non-current assets | 1 | — | ||
Change in investments in associates | — | 1 | ||
Sale finance lease portfolio | 38 | 66 | ||
Sale/acquisitions (net of cash) | –19 | –637 | ||
Cash flow from investing activitities | –119 | –671 | ||
Free cash flow | 119 | –508 | ||
Proceeds from non-current borrowings | 532 | 18 | ||
Repayments of non-current borrowings | –264 | –240 | ||
Change in current borrowings | –496 | 616 | ||
Dividend | –51 | –52 | ||
Change in equity related to shares | 60 | 2 | ||
Change in minority interest | 34 | –3 | ||
Cash flow from financing activities | –185 | 341 | ||
Translations differences | 8 | –3 | ||
Changes in cash and cash equivalents | –58 | –170 | ||
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With effect from December 1, 2005 the gross margin and operating expenses of Océ Imagistics have been reported in line with those of the Océ Group. An overview of the quarterly effects is given below. Revenues and operating income remain unchanged; gross margin and operating expenses have changed by equal amounts that compensate each other. The Annual Report 2006 and the press releases as from the first quarter of 2007, will be based on Océ reporting.
Reconciliation gross margin and operating expenses after reallocation of the costs of Océ Imagistics
| In million €/% | 1st quarter Annual Report | 1st quarter Press release | 2nd quarter Annual Report | 2nd quarter Press release | 3rd quarter Annual Report | 3rd quarter Press release | 4th quarter Annual Report | 4th quarter Press release | ||||||||
Total revenues | 754.1 | 754.1 | 783.6 | 783.6 | 740.6 | 740.6 | 832.1 | 832.1 | ||||||||
Cost of sales | 440.7 | 430.6 | 470.0 | 460.0 | 441.7 | 432.0 | 488.8 | 478.6 | ||||||||
Gross margin | 313.4 | 323.5 | 313.6 | 323.6 | 298.9 | 308.6 | 343.3 | 353.5 | ||||||||
| 41.6 | 42.9 | 40.0 | 41.3 | 40.4 | 41.7 | 41.3 | 42.5 | |||||||||
Selling and marketing expenses | 180.9 | 174.2 | 194.3 | 187.7 | 174.0 | 167.6 | 189.7 | 183.1 | ||||||||
Research and development expenses | 60.6 | 60.6 | 58.1 | 58.1 | 52.5 | 52.5 | 53.8 | 53.8 | ||||||||
General and administrative expenses | 48.2 | 65.0 | 43.2 | 59.8 | 55.7 | 71.8 | 56.0 | 72.8 | ||||||||
Operating expenses | 289.7 | 299.8 | 295.6 | 305.6 | 282.2 | 291.9 | 299.5 | 309.7 | ||||||||
| 38.5 | 39.8 | 37.7 | 39.0 | 38.1 | 39.4 | 36.0 | 37.2 | |||||||||
Operating income | 23.7 | 23.7 | 18.0 | 18.0 | 16.7 | 16.7 | 43.8 | 43.8 | ||||||||
| 3.1 | 3.1 | 2.3 | 2.3 | 2.3 | 2.3 | 5.3 | 5.3 |
The terms EBITA and EBITDA are terms used in the press release as explanation of accounting results.
EBITA and EBITDA
| EBITDA | Fourth quarter | Financial year | ||||||
| in million€ | 2006 | 2005 | 2006 | 2005 | ||||
EBIT | 43.8 | 70.6 | 102.2 | 112.5 | ||||
Amortisation | 12.1 | 5.3 | 38.9 | 17.7 | ||||
EBITA | 55.9 | 75.9 | 141.1 | 130.2 | ||||
Depreciation | 41.5 | 35.3 | 165.0 | 126.8 | ||||
EBITDA | 97.4 | 111.2 | 306.1 | 257.0 | ||||
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Forward-looking statements
This report contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements refer to future events and may be expressed in a variety of ways, including the use of future or present tense language such as ‘expects’, ‘projects’, ‘anticipates’, ‘intends’ or other similar words.
Océ has based these forward-looking statements on its current expectations and projections about future events.
Océ’s expectations and projections may change and Océ’s actual results, performance or achievements could be significantly different from the results expressed in or implied by these forward-looking statements based on various important factors, risks and uncertainties which are neither manageable nor foreseeable by Océ (and some of which are beyond Océ’s control).
When considering these forward-looking statements, one should keep in mind these risks, uncertainties and other cautionary statements made in this report or in Océ’s other annual or periodic filings made with the United States Securities and Exchange Commission.
These factors, risks and uncertainties include, but are not limited to changes in economic and business conditions, customer demand in competitive markets, the successful introduction of new products and services into markets, developments in technology, adequate pricing of products and services, competitive pricing pressures within Océ’s markets, the financing of Océ’s business activities, efficient and cost-effective operations, changes in foreign currency exchange rates, fluctuations in interest rates, political uncertainties, changes in governmental regulations and laws, tax rates, successful acquisitions, joint ventures and disposals and the effects of recent or further terrorist attacks and the war on terrorism.
For a more detailed discussion of the factors, risks and uncertainties that may affect Océ’s actual results, performance or achievements, reference is made to pages 69 to 74 of the annual report for 2005, Océ’s Annual Report on Form 20-F and any other filings made by Océ with the United States Securities and Exchange Commission.
Océ’s forward-looking statements speak only as of the date on which the statements are made, and Océ is under no obligation to update or revise publicly any forward-looking statement, whether as a result of new information, future events or otherwise.
Océ enables its customers to manage their documents efficiently and effectively by offering innovative print and document management products and services for professional environments.
Océ N.V.
P.O. Box 101, 5900 MA Venlo,
The Netherlands
Telephone (+31) (0) 77 3592240
Telefax (+31) (0) 77 3595436
Océ on Internet:
investor.oce.com
E-mail: info@oce.com
Trade register Venlo 12002283
Printing for | ||
Professionals |
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