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Brunel International N.V.

Earnings Release May 6, 2010

3823_iss_2010-05-06_becbf52f-eb3e-4b67-9080-6f036b2c04ac.pdf

Earnings Release

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Press Release

Brunel's turnover Q1 2010 down by 9% versus strong first quarter 2009

Amsterdam, 6 May 2010

Brunel International achieved a Q1 2010 turnover of € 167 million, down 9% compared to the same period in 2009. The gross profit amounted to € 36 million down from € 40 million over the same period last year.

The gross margin reduced slightly from 21.7% to 21.3%.

The EBIT amount of € 9.8 million is 28% lower than in the first quarter of 2009.

Brunel
International
X € 1 million Q1 2010 Q1 2009 Change %
Turnover 167.0 183.7 -9%
Gross Profit 35.5 39.9 -11%
Gross margin 21.3% 21.7% -0.7
EBIT 9.8 13.7 -28%
EBIT % 5.9% 7.5% -1.6
(unaudited)

Brunel Netherlands realised a turnover of € 32.1 million in Q1 2010, a decrease of 15% compared to the same period in 2009. The turnover in the month of March 2010 is 8% less than the same month in 2009, as during the first quarter of 2010 turnover increased month on month.

The gross margin in Q1 2010 is slightly less at 35% as a result of limited pressure on tariffs.

Brunel Germany realised a turnover of € 25.0 million in Q1 2010, a decrease of 16% compared to the same period in 2009. As in the Netherlands, turnover increased month on month and the turnover in the month of March was 4% less than in the same month in 2009. Gross margin improved further in 2010 as a result of increased productivity compared to the first quarter in 2009.

The Energy division realised a turnover of € 104.3 million, a decrease of 5% compared to the same period in 2009. The main reason is the completion of contracts that generated significant turnover in 2009 but that also ended in that year. The gross margin in Q1 2010 is 13% in line with the same period last year.

No further decreases in overhead were made in anticipation of recovering markets. Ebit decreased to 5.9% in Q1 2010 from 7.5% in Q1 2009 as a result of the lower turnover levels.

Jan Arie van Barneveld, CEO of Brunel International: "The impact of the worsening economic climate only started to affect Brunel in the second quarter of 2009. A turnover decline of 9% versus the relatively strong first quarter 2009, while keeping margins at acceptable levels, can be characterised as a promising performance.

With the current slightly improving market developments in the Netherlands and Germany and the Energy division preparing itself for the large scale investments by the oil and gas industry, that are expected to materialise towards the end of 2010, we remain positive for the remainder of 2010.

The economic uncertainties however do not yet give us sufficient confidence to provide a quantative outlook."

--------------------------------------------------------------------------------------------------------------------------
For
further
information:
Jan
Arie
van
Barneveld
CEO Brunel
International
tel.:
+31(0)20
312
50
00
Rob
van
der
Hoek
CFO Brunel
International
tel.:
+31(0)20
312
50
00

Brunel International N.V. is an international service provider specialised in the flexible deployment of knowledge and capacity in the fields of Engineering, Oil & Gas, Aerospace, Automotive, ICT, Finance, Legal and Insurance & Banking. Services are provided in the form of Project Management, Secondment and Consultancy. Incorporated in 1975, Brunel has since become a global company with some 8,000 employees and an annual turnover of € 738 million. The company is listed at Euronext Amsterdam N.V. For more information on Brunel International visit our website www.brunel.net

Certain statements in this document concern prognoses about the future financial condition and the results of operations of Brunel International NV as well as plans and objectives. Obviously, such prognoses involve risks and a degree of uncertainty since they concern future events and depend on circumstances that will apply then. Many factors may contribute to the actual results and developments differing from the prognoses made in this document. These factors include general economic conditions, a shortage on the job market, changes in the demand for (flexible) personnel, changes in employment legislation, future currency and interest fluctuations, future takeovers, acquisitions and disposals and the rate of technological developments. These prognoses therefore apply only on the date on which the document was compiled.

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