SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

Report of Foreign Private Issuer

Pursuant to Rule 13a-16 or 15d-16 of

The Securities Exchange Act of 1934

For the month of ~~January~~July 2005

Commission File Number: 0-13742

Océ N.V.

(Translation of registrants name into English)

St. Urbanusweg 43, Venlo, The Netherlands

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F: Form 20-F: þ Form 40-F: ¨

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):

Indicate by check mark whether by furnishing the information contained in this Form, the registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934. Yes: ¨ No: þ

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.


OCÉ N.V.

By:		/s/ R.L. van Iperen
		Chairman of the Board of Executive Directors
		(Principal Executive Officer)

Dated: ~~February~~July 1012, 2005

~~Three~~Quarterly ~~months~~ report ~~2004~~2005/42

[GRAPHIC]

Provisional results 2004 financial year*


	Second quarter						First six months
	2005	2004			organic		2005	2004
In million €

Revenues	640.4	682.2	–6.1	%	–4.1	%	1,263.2	1,304.6
Operating income	13.6	34.2	–60.2	%	–54.1	%	28.5	64.6
Net income	10.6	21.4	–50.6	%	–44.8	%	19.7	38.6

In € per share
Net income	0.12	0.25	–51.2	%	—		0.22	0.44

	Second quarter						First six months
	2005	2004			organic		2005	2004
In million €

Operating income	13.6	34.2	–60.2	%	–54.1	%	28.5	64.6
Financial activities	4.8	14.7	–67.0	%	–66.6	%	10.2	28.9
Profit on sale of lease contracts	1.3	10.5	–87.7	%	–87.7	%	2.8	12.7
Operating income commercial activities (exclusive book profit on sale of leases)	7.5	9.0	–17.9	%	4.4	%	15.5	23.0

	Financial year						Fourth quarter
	2004	2003			organic		2004	2003			organic
In million €
Total revenues	2,652.5	2,769.3	–4.2	%	0	%	702.2	746.9	–6.0	%	–2.7	%
Operating income	110.4	124.8	–11.6	%	19	%	29.1	46.4	–37.2	%	–9.6	%
Net income	78.1	61.5	27.0	%	—		25.4	27.0	–5.9	%	—
In € per share
Net income	0.89	0.69	28.6	%			0.29	0.31	–6.3	%
Dividend	0.58	0.58

•

Sales of new printing systems increased by 2.5% in the second quarter. This brings growth for the first six months to 12.4%.

• OnRevenues anfrom ~~organic~~services ~~basis~~and ~~total~~media ~~revenues~~down ~~for~~by ~~2004~~4.8% ~~finished at the same level as~~ in ~~2003 thanks to~~ the ~~growing~~second ~~sales of new printing systems~~quarter. ~~This~~In ~~has brought~~ the ~~decrease~~first ofsix ~~the~~months ~~past~~this 3decrease ~~years~~was ~~to a halt~~4. ~~Total revenues includes € 31 million from the sale of the lease portfolio~~9%.

• ~~The~~Operating ~~outsourcing~~income ofdecreased ~~part~~by of€ ~~the~~20.6 ~~manufacturing~~million, ~~operations~~which tois ~~Central~~caused ~~Europe~~by ~~and~~lower ~~Asia~~revenues ~~has~~from ~~been~~leases ~~implemented~~(–€ ~~according to plan~~20.5 ~~The~~million) ~~objectives~~and ~~set~~exchange ~~for~~rate ~~cost-price~~changes ~~and~~(–€ ~~quality~~2.1 ~~have been achieved~~million).

• The ~~operating~~first ~~income~~printers ~~from~~to ~~commercial~~be ~~activities,~~fully ~~excluding~~manufactured ~~the~~in ~~book~~Asia ~~profit~~were onshipped ~~the~~direct ~~sale of the lease portfolio, is expected~~ to ~~grow in 2005 as compared to 2004~~customers.

Rokus van Iperen, chairman of the Board of Executive Directors:

“~~The~~Despite ~~strategy~~the ~~that~~limited ~~was~~growth ~~formulated~~ in ~~2002 is bearing its first fruits. The increase in machine~~ sales ~~during the past year is a direct consequence~~ of ~~the~~printing ~~investments~~systems induring ~~product development and sales. Particularly~~ the ~~products~~second ~~that Océ launched in 2003 and 2004 are selling well. Revenues from maintenance and service~~quarter, ~~which~~we ~~are~~expect ~~currently~~to ~~still~~be ~~lagging~~on ~~behind,~~course ~~are~~again ~~recovering~~at ~~later~~the ~~than~~end ~~expected~~of 2005.”

•The Instrong ~~the~~demand ~~fourth~~for ~~quarter~~colour ~~non-recurring~~printers ~~revenues~~and ~~grew~~high-production black-and-white ~~organically~~printers bywill ~~8.8%,~~lead ~~whilst~~to ~~recurring~~continuing ~~revenues~~growth ~~showed~~in anthe ~~organic~~second ~~decrease~~half of ~~7.5%.~~the ~~The~~year ~~operating~~which ~~income~~will ~~for~~also ~~the~~bring ~~fourth quarter includes~~ a ~~book~~recovery ~~profit~~in ofrevenues €from 10service.1 ~~million~~We onare ~~the~~maintaining ~~sale~~our ofprofit ~~lease~~forecast: ~~contracts.~~operating ~~Interest~~income ~~proceeds~~ from ~~financial~~commercial ~~lease~~activities ~~contracts~~will ~~decreased~~increase compared byto ~~€ 10~~2004.8” ~~million.~~

•* The ~~net~~figures ~~income~~in ~~for~~this ~~the~~report ~~fourth~~are ~~quarter~~unaudited. ~~includes~~The report has been prepared on the ~~release~~basis of aDutch ~~tax~~GAAP; ~~provision~~as ofcompared €to ~~1.4~~the ~~million~~Annual Financial Statements for 2004 there have been no changes in the accounting principles used for financial reporting.

•Results ~~Free~~second ~~cash flow in the fourth~~ quarter ~~amounted~~2005 ~~to € 178 million.~~

~~Provisional~~Revenues ~~results~~decreased ~~fourth~~by 6.1% in the second quarter ~~2004~~of 2005. This decrease was largely caused by exchange rate effects (–2.0%) and lower revenues following the sale of the lease portfolio (–2.9%).

~~Revenues~~Non-recurring revenues decreased inby ~~the~~3.7%. ~~fourth~~This ~~quarter~~decline was caused by ~~6.0%,~~currency oftranslation ~~which~~effects 3(–1.35%), ~~was~~the ~~due~~sale toof ~~exchange rate~~the ~~effects~~lease portfolio (–4.7%) ~~The~~and an organic ~~decrease~~increase in ~~revenues~~sales ~~was~~of printing systems of 2.75%.

AsThe abook ~~result~~profit ofon the sale of the lease portfolio ~~interest revenues from lease contracts were € 10.8 million lower. The book profit on the sale~~ amounted to € ~~10.~~1.3 million. ~~Non-recurring~~in ~~revenues were up by 8.8% (excluding~~ the second ~~sale~~quarter ~~of lease contracts~~(2004: ~~6.9%). Sales~~€ ~~of printing systems continue to develop positively~~10. ~~Recurring revenues decreased on an organic basis by 7.~~5% ~~(excluding the sale of lease contracts: -5.9%~~million). The decrease is attributable to lower interest proceeds from lease contracts and reduced revenues from maintenance contracts. Because of the continuing price pressure in the market, revenues from sales of paper were also lower.

~~The~~Recurring ~~gross~~revenues ~~margin~~showed ~~decreased~~an organic bydecrease 2of 4.8% ~~to 40~~.~~7%.~~ Of this decrease in recurring revenues, 02.90% was ~~due~~attributable to a lower ~~hedging~~revenues ~~result~~from ~~than~~service and 0.5% to a decrease in the ~~fourth~~revenues ~~quarter~~generated by Business Services. Revenues from media remained at the same level. Because of the ~~2003~~reduced revenues from leases, recurring revenues decreased by 2.3%.

The gross ~~volume/mix~~margin ~~effect~~decreased ~~amounted~~by 2.8%, from 43.0% to 40.2%. Of this decrease, 1.97% was caused by lower revenues from leases, 0.1% by the results on hedging transactions and 1.0% by volume-mix effects.

Operating expenses ~~decreased~~were reduced by 74.83% on an organic basis. Of this decline, 1.3% was caused by a release from the provision for bad debts. In the next six months attention will continue to be focused on operational efficiency and on investments aimed at strengthening the company’s distribution systems.

OnOperating anincome ~~organic~~amounted ~~basis~~to ~~the~~€ 13.6 million (2004: € 34.2 million). Of this € 20.6 million decrease ~~was~~in 5operating income, € 20.5% million was caused by the sale of the lease portfolio and € 2.1 million was due to exchange rate effects. The decrease in the gross margin, after adjustment for leases, was offset in full by the lower operating expenses.

~~Operating~~Financial ~~income~~expense ~~amounted~~(net) was reduced by 24.6% from € 4.8 million to € 293.16 million ~~(-37~~thanks to a lower level of debt and a slight increase in interest rates.~~2%).~~

*Income ~~The~~taxes ~~figures~~made ~~stated~~a inpositive ~~this~~contribution ~~report~~of ~~are~~€ ~~unaudited~~1.0 ~~The~~million ~~report~~to ~~has~~net ~~been~~income, ~~prepared~~one ~~on the basis~~ of ~~Dutch GAAP; as compared to~~ the ~~Annual~~reasons ~~Financial~~being ~~Statements~~that ~~for~~allowance ~~2003~~was ~~there~~made ~~have~~during ~~been no changes in~~ the ~~accounting~~quarter ~~principles used~~ for ~~financial reporting, with~~ the ~~exception~~R&D credits ofthat ~~changes~~can inbe ~~certain~~offset ~~balance~~against ~~sheet~~taxable ~~classifications.~~income ~~On January 31, 2005 Océ will publish its definitive results as included~~ in ~~the Annual Financial Statements~~2005.

~~Interest~~Net ~~charges~~income amounted ~~decreased by 48.8%~~ to € 310.6 million ~~due~~(2004: to€ a21.4 ~~decrease in the net debt position~~million).

~~The tax charge includes the release of provisions of € 1.4 million. This~~Per ~~release~~ordinary ~~results~~share ~~from~~outstanding the ~~definitive~~net ~~settlement of tax risks to which the provisions related. Net~~ income ~~amounted~~was to € 250.412 ~~million~~ (~~2003~~2004: € ~~27.~~0 ~~million~~.25).

~~Net~~Results ~~income~~by ~~per~~Strategic ~~ordinary~~Business ~~share~~Unit ~~outstanding was € 0.29 (2003: € 0.31).~~

~~Provisional~~In ~~fourth~~Digital Document Systems (DDS) revenues in the second quarter ~~results~~were by€ ~~Strategic~~432.1 ~~Business~~million ~~Unit~~(2004: € 470.0 million).

InOrganically, ~~Digital~~the ~~Document~~decrease ~~Systems~~in ~~(DDS)~~ revenues inamounted ~~the~~to ~~fourth quarter were € 484~~6.1 ~~million (2003: € 514~~%.5 ~~million).~~The Oneffect anof ~~organic~~exchange ~~basis~~rates ~~revenues~~was ~~decreased by 2~~1.79%. ~~compared~~After toadjustment for the ~~fourth~~sale ~~quarter~~ of ~~2003.~~the ~~Exchange~~lease ~~rate~~portfolio, ~~effects~~non-recurring ~~depressed~~ revenues decreased by 30.35%. ~~Non-recurring~~Recurring revenues ~~showed an organic increase of 12~~were 6.42% ~~(excluding~~lower ~~the sale~~on ofan ~~lease~~organic ~~contracts:~~basis ~~9.6%). The growth~~ in ~~sales~~the ofsecond ~~printing~~quarter. ~~systems~~This ~~continued~~is tothe ~~move~~same ~~ahead~~as ~~well.~~the ~~This~~decrease ~~was~~in ~~mainly~~the ~~due~~first toquarter ~~the~~of ~~success~~2005. ofRevenues ~~machines~~from ~~that~~maintenance ~~were~~contracts ~~introduced~~showed inan ~~the~~organic ~~past~~decrease ~~two~~of ~~years~~2.7%.

~~Recurring~~The ~~revenues~~operating ~~decreased~~income ~~organically~~of byDDS ~~8.6%~~in ~~(excluding~~ the ~~sale~~second ofquarter ~~lease~~amounted ~~contracts~~to € 0.1 million (2004: 7€ 18.0% million).

~~This~~Demand ~~decrease~~for ~~was~~the ~~caused~~Océ byCPS800 ~~lower interest proceeds~~ and ~~reduced revenues from maintenance contracts. The lower interest proceeds were attributable to~~ the ~~disposal~~Océ CPS900 ofcolour ~~the~~printers ~~lease~~has ~~portfolio.~~shown ~~The~~rapid ~~reduced revenues from maintenance contracts are the result of the withdrawal of about 25,000 low volume machines from the office market~~growth. In addition, the ~~number~~recently oflaunched ~~analogue~~high-production ~~copiers~~black-and-white ~~installed~~printers inhave ~~the~~proved ~~market~~to isbe ~~showing~~highly asuccessful ~~strong decline~~sellers.

~~Recurring~~In ~~revenues were likewise affected in the fourth quarter by the flat development of revenues within Océ~~ Business Services. ~~This~~profitability ~~resulted~~is ~~from~~increasing, ~~the~~notably ~~loss~~in ofthe ~~a substantial~~United ~~contract which Océ decided to discontinue rather than allow this to impact on its income targets~~States. InWhen ~~all~~entering ofinto ~~the~~new ~~preceding~~contracts ~~quarters~~much ofattention ~~the~~is ~~past year revenues within this business group had shown a clear increase. The operating~~focused ~~income~~on ofservices ~~the~~that ~~DDS~~provide ~~Strategic~~higher ~~Business~~added ~~Unit amounted to € 10~~value.5 ~~million (2003: € 17.0 million).~~

~~Revenues~~In in Wide Format Printing Systems ~~(WFPS)~~revenues ~~were~~amounted to € ~~218~~208.13 million (~~2003~~2004: € ~~232~~212.42 million). OnRevenues ~~an organic basis revenues~~ were 20.~~6% lower, with exchange rate effects causing a decline of~~ 3.5%~~. Non-recurring~~ ~~revenues~~higher ~~increased by 1.9%~~ on an organic basis, ~~(excluding~~though ~~the~~exchange ~~sale~~rate ofeffects ~~lease~~reduced ~~contracts~~revenues ~~also~~by 12.91%).

~~This~~Non-recurring ~~growth in~~ revenues ~~was~~achieved ~~principally~~an ~~booked~~organic byincrease ~~colour~~of ~~printers, both in the design engineering and in the printing industry market~~5. ~~Recurring revenues decreased organically by~~ 4.9% ~~(excluding~~whilst ~~the~~recurring ~~sale~~revenues ofwere ~~lease contracts: -3~~1.38%). ~~In addition to the decrease in interest revenues from leases, this decline is due to~~ lower ~~revenues~~on ~~from~~an ~~sales~~organic ~~of supplies~~basis. ~~Operating~~Revenues ~~income~~from maintenance ~~amounted~~contracts toand €media ~~18.6~~decreased ~~million~~organically ~~(2003: €~~by 290.~~4 million)~~5%.

~~Provisional~~Operating income ~~results~~amounted to € 13.5 million (2004: ~~financial~~€ ~~year~~ 16.2 million).

~~Total~~Sales ~~revenues amounted to € 2,652.5 million (2003: €~~of ~~2,769.3 million). The 4.2% decrease in revenues was entirely due to~~ the ~~impact~~Océ ofTCS400, ~~exchange~~a ~~rate~~multi-functional ~~changes.~~colour Onprinter anfor ~~organic basis revenues were~~ the ~~same~~design asengineering inmarket, ~~the~~continue ~~previous~~to ~~year.~~progress ~~Total revenues comprise an amount of € 30~~well.9 ~~million~~It inis ~~the~~clear ~~form of a book profit on the sale of lease contracts. This sale meant~~ that, ~~the interest revenues from financial leases were reduced~~ by €offering ~~29.4~~this ~~million. Non-recurring revenues increased on an organic basis by 10.6% (excluding the sale of the lease contracts: 7.0%)~~product, ~~whilst~~Océ ~~recurring~~is ~~revenues~~effectively ~~decreased~~meeting ~~organically by 3.6% (excluding the sale of lease contracts: 2.7%).~~

~~The~~ the ~~gross~~growing ~~margin~~needs ~~was~~of ~~41.6%,~~customers ain ~~decrease~~this ofmarket ~~0.5%~~for oncolour ~~the~~printing ~~2003 financial year~~capabilities.

~~Operating~~In ~~expenses~~Display ~~decreased~~Graphics, onthanks to the introduction of a ~~organic~~new ~~basis~~range byof ~~1.6%.~~products, we are experiencing a strong increase in machine sales.

~~Operating~~Results ~~income~~first ~~amounted~~six tomonths €2005 ~~110.4 million, which was almost 12% lower than in 2003.~~

~~The~~Revenues ~~decrease~~decreased ~~was~~by ~~attributable~~3.2% in ~~full~~the tofirst six months of 2005. After elimination of exchange rate effects~~. Organically~~, ~~operating~~the ~~income~~decrease ~~increased~~in byrevenues 19amounted to 1.3%.

~~Interest~~Non-recurring ~~charges~~revenues ~~decreased~~grew organically by 4012.84%, toexcluding €the ~~18.1~~profit ~~million~~on the sale of lease contracts.

The ~~tax~~sale ~~charge~~of ~~amounted~~the tolease ~~13.2%.~~portfolio ~~Excluding~~generated ~~the~~a ~~release~~book profit of ~~the~~€ ~~tax~~2.8 ~~provision~~million of(2004: € 7 12.07 million,). ~~the~~Recurring ~~tax~~revenues ~~charge~~decreased ~~worked~~on ~~out~~an atorganic 20basis by 4.89%.

~~Net~~Interest income ~~rose~~from ~~by 27.0%~~leases towas € 7821.17 million lower than in the first six months of 2004.

~~Net~~The ~~income~~gross ~~per~~margin ~~ordinary~~went ~~share~~down ~~outstanding~~by 2.4% to 40.3%. Of ~~was~~this €decrease, 0.894% ~~(2003:~~was €caused by hedging transaction results, 1.4% by the sale of the leases and 0.~~69)~~6% by volume-mix effects.

Operating expenses were reduced by 0.9% on an organic basis.

Operating income amounted to € 28.5 million (2004: € 64.6 million).

Net income was € 19.7 million (2004: € 38.6 million), a decrease of 49.0%.

Net income per ordinary share outstanding amounted to € 0.22 (2004: € 0.44).

Outsourcing of lease activities

The ~~outsourcing of the~~ lease ~~activities~~receivables ~~progressed~~shown ~~well~~on in the ~~fourth quarter.~~balance ~~During~~sheet ~~the~~at ~~quarter contracts to~~ the ~~value~~end of ~~€ 107 million within~~ the ~~existing~~first ~~lease~~six ~~portfolio~~months ~~were~~of ~~sold~~2005 amounted to ~~the~~€ ~~company’s~~349 ~~lease~~million ~~partners.~~(first ~~The~~six ~~book~~months ~~profit~~of on2004: ~~this sale amounted to~~ € ~~10.1~~646 million).

The ~~level~~sale of the lease ~~receivables~~portfolio onwill, ~~the~~especially ~~balance~~outside ~~sheet~~Europe, atbe ~~the~~temporarily ~~end~~slowed ofdown. ~~the~~As ~~financial~~a ~~year~~result, ~~amounted~~the tolease €portfolio ~~403~~as ~~million. A~~included ~~further~~on ~~package~~the ofbalance €sheet ~~175 million~~ is expected to be ~~sold~~around ~~in 2005, which will leave a portfolio with a value of approximately~~ € ~~225~~300 million onat the ~~balance~~end ~~sheet~~of 2005.

Commercial versus financial results

	2004	2003
	Second quarter
	2005	2004
In million €
Commercial activities*
Commercial activities
Revenues	~~2,585~~631.3	~~2,672~~661.7
Operating income	628.8	5619.5
Net income	53	36
Profit on sale of lease contracts	1.3	10.5
Operating income (excl. sale of lease contracts)	7.5	9.0
Financial activities
Revenues	689.1	9720.5
Operating income	484.8	6914.7
Net income	25	25

*Relocation ~~Including book profit on sale~~ of ~~lease~~machine manufacturing ~~portfolio:~~

~~2004:~~The €relocation 31of ~~million;~~machine ~~2003:~~manufacturing €from ~~6.0~~the Netherlands ~~million~~to Asia is making good progress.

~~Outsourcing~~The Océ TDS100, a printer for the design engineering market, is meanwhile being manufactured in full in Malaysia and is being shipped to customers from that country. Of the original Venlo manufacturing volume, 20% will be produced in low-wage countries in 2005. A start has now been made on the further relocation of activities, with the result that by the end of 2006 50% of the original Venlo manufacturing volume will be sourced from elsewhere.

The outsourcing of part of the manufacturing activities from Venlo to Central Europe and Asia is progressing entirely according to plan. The quality, the cost reduction and the supply chain performance are in line with the set targets.

Cooperation with the partners handling the outsourced manufacturing activities is constructive. In the 2005 financial year 20% of Venlo’s original manufacturing output will originate from these countries. The related reduction in personnel numbers in Venlo has largely been completed.

Experiences to date strengthen the view that Océ must continue along its chosen route. Apart from the lower manufacturing costs that have now been achieved, an additional advantage is that products that are sourced in Asia are paid for in dollars, which reduces Océ’s dollar-sensitivity.

Balance sheet and cash flow

The balance sheet total at the end of the second quarter amounted to € 2,~~233~~154 million, a decrease of € ~~188~~189 million compared to the ~~balance sheet at the~~ end of the ~~2003 financial year. The main factors that caused a decrease in the assets position were lease receivables (- € 400 million), trade accounts receivable (- € 50 million) and an increase in~~second ~~liquid~~quarter ~~funds~~of ~~(€ 257 million) and in other working capital (€ 5 million)~~2004.

~~Shareholders’~~The ~~equity~~principal atreasons for the ~~end~~decrease ofin ~~2004~~the ~~was~~balance ~~equal~~sheet total towere ~~that at~~ the ~~2003~~lower ~~year~~level ~~end.~~of ~~During~~lease ~~the~~receivables ~~year~~(€ ~~there~~297 ~~was~~million) aand ~~mainly~~an ~~dollar-related~~increase ~~negative~~in ~~translation~~liquid ~~result~~funds of (€ 26110 million).

~~Interest-bearing~~Net ~~loans~~debt ~~decreased~~amounted ~~by € 68 million~~ to € ~~481~~229 million.

~~Net~~Total ~~debt~~free ~~fell~~cash ~~from~~flow €in ~~494~~the ~~million~~second toquarter ~~€ 168 million. The solvency ratio~~ amounted to ~~33.7%~~ ~~(2003:~~€ 3134.~~0%).~~9 ~~Total free cash flow was € 370~~ million.

~~Dividend~~ The solvency ratio was 35%, which is well above the minimum of 30% that Océ has set itself as a target.

ACorporate ~~proposal~~Sustainability ~~will~~Report be made to shareholders that the dividend for the 2004 financial year be maintained at € 0.58 per ordinary share of € 0.50 nominal. If this proposal is adopted, the final dividend per ordinary share for 2004 will amount to € 0.43 in cash. The interim dividend for 2004 amounted to € 0.15 per ordinary share.

~~General~~In ~~Meeting~~mid-June Océ published its Sustainability Report 2004. In this report Océ gives account of ~~Shareholders~~its approach to sustainable business practices and explains the goals that the company has set for further improving sustainable business practices in the future.

The ~~Annual~~report ~~General~~has ~~Meeting~~been prepared in accordance with the recommendations of ~~Shareholders~~Global ~~will~~Reporting Initiative (GRI), which allows Océ’s performances in the area of sustainability to be ~~held~~measured on ~~April~~the ~~15,~~basis ~~2005~~of the GRI performance indicators.

The agenda for the meeting will be published on March 15, 2005. The annual report will be published on-line on our website on February 1, 2005 and will become available in printed form on February 18, 2005.

Prospects

~~Océ~~In ~~will~~view ~~invest~~of ~~further~~the instrongly ~~raising~~increased ~~its~~demand ~~distributive~~for ~~strength~~colour printing systems in ~~2005.~~particular, ~~Supported~~we byare positive about prospects for the ~~new~~second ~~range,~~six ~~sales~~months of 2005 and we expect that the sale of printing systems will ~~show~~again ~~continued~~increase ~~growth~~more strongly as compared to the second quarter. We are also maintaining our forecast that the downward trend in recurring revenues will be reversed in the next 6 months.

~~This~~Océ ~~will~~maintains ~~lead~~its toprevious aexpectation ~~turn~~that ~~around~~operating inincome ~~the~~from ~~recurring~~commercial ~~revenues~~activities, ~~which~~excluding isthe ~~expected~~book toprofit ~~take~~on ~~place during~~the sale of the ~~course~~lease portfolio, will be higher than in 2004 (€ 31 million). Because of the ~~2005~~reduced revenues from leases, net income will work out lower than in 2004.

Operating income from commercial activities, excluding the book profit on the sale of the lease portfolio, is expected to be higher than in 2004, provided however that the dollar does not fall further in value against the euro.

As a result of the lower revenues from leases, net income will be below that of 2004.

Océ N.V.

~~January~~July 177, 2005

For further information: ~~Océ~~ ~~N.V.~~

Océ N.V.

Pierre Vincent

Senior VPVice President Investor Relations

Venlo, the Netherlands

Telephone #+31 77 359 2240

E-mail ~~mve~~investor@oce.nlcom

Consolidated Statement of Operations

Period December 1, 2003 till November 30, 2004	Fourth quarter		Financial year
Results in million €	2004	2003	2004	2003
Revenues from sales, rentals and service	690.2	724.0	2,584.3	2,671.7
Interest from financial lease	12.0	22.9	68.2	97.6
Total revenues	702.2	746.9	2,652.5	2,769.3
Cost of sales, rentals and service	416.2	421.8	1,549.1	1,604.1
Gross margin	286.0	325.1	1,103.4	1,165.2
Operating expenses	256.3	276.6	985.1	1,015.2
Impairment of fixed assets	0.6	2.1	7.9	25.2
Operating income	29.1	46.4	110.4	124.8
Financial expense (net)	3.6	7.1	18.1	30.5
Income before income taxes, equity in income of unconsolidated companies and minority interests	25.5	39.3	92.3	94.3
Income taxes	–0.2	11.8	12.2	30.5
Income before equity in income of unconsolidated companies and minority interests	25.7	27.5	80.1	63.8
Equity in income of unconsolidated companies	0.3	—	0.5	0.1
Income before minority interests	26.0	27.5	80.6	63.9
Minority interests in net income of subsidiaries	0.6	0.5	2.5	2.4
Net income	25.4	27.0	78.1	61.5
Free cash flow	177.7	207.8	370.5	327.8
Average number of ordinary shares outstanding (x 1,000)	83,515	83,404	83,488	83,409
Per ordinary share in €
Net income	0.29	0.31	0.89	0.69

Period December 1, 2004 till May 31, 2005


	Second quarter		Six months
	2005	2004	2005	2004
Results in million €

Revenues from sales, rentals and service	631.3	661.7	1,244.4	1,264.1
Interest from financial lease	9.1	20.5	18.8	40.5

Total revenues	640.4	682.2	1,263.2	1,304.6
Cost of sales, rentals and service	382.9	389.1	753.6	747.5

Gross margin	257.5	293.1	509.6	557.1
Operating expenses	243.9	258.9	481.1	492.5

Operating income	13.6	34.2	28.5	64.6
Financial expense (net)	3.6	4.8	6.7	9.5

Income before income taxes, equity in income of unconsolidated companies and minority interest	10.0	29.4	21.8	55.1
Income taxes	–1.0	7.5	1.4	15.4

Income before equity in income of unconsolidated companies and minority interest	11.0	21.9	20.4	39.7
Equity in income of minority interests	0.1	0.1	0.4	0.2

Income before minority interest	11.1	22.0	20.8	39.9
Minority interest in net income of subsidiaries	0.5	0.6	1.1	1.3

Net income	10.6	21.4	19.7	38.6

Free cash flow	34.9	102.5	–16.8	90.4
Average number of ordinary shares outstanding (x 1,000)	83,697	83,491	83,615	83,460

Per ordinary share in €
Net income	0.12	0.25	0.22	0.44

Consolidated Balance Sheet

In million €	30.11.2004	30.11.2003
	Second quarter		End of financial year
Assets
	2005	2004	2004	2003
Intangible fixed assets	37	49
In million €
Tangible fixed assets	481	494
Assets
Financial fixed assets	360	561
Intangible fixed assets	34	48	37	49
Inventories	317	310
Tangible fixed assets	494	472	481	494
Accounts receivable and prepaid expenses	725	952
Financial fixed assets	339	484	360	561
Cash and cash equivalents	313	55
Inventories	335	337	317	310
Total assets	2,233	2,421
Accounts receivable and prepaid expenses	727	887	725	952
Liabilities
Cash and cash equivalents	225	115	313	55
Total shareholders’ equity	714	713
Total	2,154	2,343	2,233	2,421
Minority interest	38	39
Liabilities
Long term liabilities (provisions)	516	596
Total shareholders’ equity	721	713	714	713
Long term debt	438	381
Minority interest	36	37	38	39
Short term debt	43	168
Long term liabilities (provisions)	500	565	516	596
Other current liabilities	484	524
Long term debt	414	461	438	381
Total liabilities	2,233	2,421
Short term debt	40	93	43	168
Other current liabilities	443	474	484	524
Total	2,154	2,343	2,233	2,421

Changes in shareholders’ equity

Period December 1, 2003 till November 30, 2004


Period December 1, 2004 till May 31, 2005	Six months
	2005	2004
In million €

Amount at December 1, 2004/2003	714	713

Net income	20	39
Dividend	–36	–36
Movement repurchased shares Option plan	2	1
Foreign currency translations	21	–4

Amount at May 31	721	713

In million €	30.11.2004	30.11.2003
Amount at December 1, 2003/2004	713	771
Net income	78	61
Dividend	–52	–52
Change repurchased shares stock option plan	1	–1
Foreign currency translations	–26	–66
At November 30	714	713

Abridged Consolidated Statement of Cash Flow

Period December 1, ~~2003~~2004 till ~~November~~May 3031, ~~2004~~2005

In million €	2004	2003
	Second quarter
	2005	2004
In million €
Cash flow from operating activities
Net income	7820	6139
Depreciation	~~147~~69	~~173~~74
Impairment of fixed assets	8	25
Investments less divestments in rental equipment and movements in financial lease receivables	–4	22
Investments less divestments in rental equipment and movements in financial lease receivables	35	30
Long term liabilities (provisions), inclusive provisions for financial lease and short term assets	–17	–21
Long term liabilities (provisions) inclusive provisions for financial lease and current assets	–60	14
Trade accounts and other receivables	5	19
Trade accounts and other receivables	31	71
Inventories	–19	–41
Inventories	–63	6
Trade accounts payable	–12	–18
Trade accounts payable	2	–31
Net change in other working capital accounts	–50	–54
Net change in other working capital accounts	–41	–9
Cash flow from operating activities	–8	20
Total cash flow from operating activities	137	340
Cash flow from investing activities
Capital expenditure on intangible assets	–94	–118
Capital expenditure less divestments in property, plant and equipment	–7447	–8128
Capital expenditure on other financial assets	3–1	–21
Net change in unconsolidated companies	1—	—
Sale of lease portfolio	~~312~~43	80107
Sale (purchase) group companies after deduction cash and cash equivalents	—	2
Cash flow from investing activities	–9	70
Total cash flow from investing activities	233	–12
Free cash flow	–17	90
Cash flow before financing activities	370	328
Cash flow from financing activities
Interest bearing loans	–6033	~~–239~~6
Change repurchased shares stock option plan	1	–1
Movement repurchased shares Option plan	2	1
Dividend	–5240	–5239
Other	–3	–3
Cash flow from financing activities	–~~114~~74	–~~295~~35
Translation differences	13	~~–15~~4
Change in cash and cash equivalents	257	18
Changes in cash and cash equivalents	–88	59

Océ profile

Océ: innovative by nature

Océ is one of the world’s leading suppliers of high-quality and innovative products and services for use by professionals in print and document management processes. The company focuses primarily on professional environments in which large volumes of documents are processed. Océ’s customers are therefore mainly active in the industrial and printing sectors as well as in office environments.

For this purpose Océ develops and manufactures its own advanced machines and systems for use in the production, distribution and management of documents. Océ also offers its customers innovative services in the areas of consultancy, outsourcing and – in cooperation with partners – financing.

Océ has built up a solid reputation as an innovator, both technologically and commercially. Océ’s products and services are renowned for their high quality, reliability, productivity, durability, ease of use, environmental friendliness and low total cost of ownership.

Most of Océ’s products and services are offered via the company’s own direct sales and service organisations. The Océ organisation is specifically tailored to serve the market segments that are of strategic relevance to the business. This gives customers direct access to their supplier; at the same time it provides Océ with a constant flow of market and customer information, which allows Océ to anticipate and respond quickly and effectively to changing market needs. In a number of countries part of the product range is made available via specialised distributors.

In-house product development and consistent investment in Research & Development are characteristic features of Océ. They provide Océ with its own unique technology base, which largely forms the cornerstone for the success of the product range. Océ’s innovative capacity is also broadened and reinforced via alliances with strategic partners and via cooperation with co-developers.

Océ operates in eighty countries and has its own sales companies in some thirty countries. The company has about 21,000 employees, 40 per cent of whom work in sales and service. Océ’s research and manufacturing facilities are located in the Netherlands, Germany, Belgium, France, the Czech Republic, Romania, the United States and Canada.

In 2004 Océ achieved revenues of € 2.7 billion and net income of € 78 million.

The publicly listed holding company of the Group is Océ N.V. The issued share capital amounts to about € 53.6 million divided into € 43.6 million ordinary shares, € 10 million financing preference shares and € 1,500.- priority shares. The ordinary and financing preference shares have a nominal value of € 0.50. Ordinary shares in Océ are listed on the stock exchanges in Amsterdam (Euronext), Düsseldorf, Frankfurt/Main and on the electronic stock exchange (EBS) in Switzerland. They are traded in the United States as American Depositary Receipts (ADRs) via NASDAQ. Options to Océ shares are traded on the Euronext Options Exchange.

Forward-looking statements

This report contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended ~~(referred to hereafter as the Securities Act)~~, and Section 21E of the Securities Exchange Act of 1934, as amended ~~(referred to hereafter as the Exchange Act)~~. These forward-looking statements, which may be expressed in a variety of ways, including the use of future or present tense language, refer to future events. 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) ~~and which are neither manageable nor foreseeable by Océ~~. When considering these forward-looking statements, you should keep in mind these risks, uncertainties and other cautionary statements made in this report or in Océ’s other annual or periodic ~~reports~~filings ~~filed~~made with the United States Securities and Exchange Commission. In ~~view~~the light of these risks, uncertainties and assumptions, the forward-looking events discussed in this report might not occur.

These factors, risks and uncertainties, ~~which~~ 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 the 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, ~~uncertainty of~~ political ~~situations~~uncertainties, changes in governmental regulations and laws, tax rates, successful acquisitions, joint ventures and disposals and the effects of recent ~~and~~or ~~potential~~further ~~future~~terrorist ~~terrorists~~ attacks and the war on terrorism.

For a more detailed discussion of the ~~risks~~factors, ~~uncertainties~~risks and ~~other~~uncertainties ~~factors~~ that may affect Océ’s actual results, performance or achievements, you should refer to pages 6269 to 6773 of the annual report for ~~2003~~2004, 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 ~~undertakes~~is under no obligation to update or revise publicly any forward-looking statement, whether as a result of new information, future events or otherwise.

The publicity listed holding company of the Group is Océ N.V. The issued share capital amounts to over € 53.6 million divided into € 43.6 million ordinary shares, € 10 million financing preference shares and € 1,500. – priority shares. The ordinary and financing preference shares have a nominal value of € 0.50. Ordinary shares in Océ are listed on the stock exchanges in Amsterdam (Euronext), Düsseldorf, Frankfurt/ Main and on the electronic stock exchange (EBS) in Switzerland. They are traded in the United States as American Depositary Receipts (ADRs) via NASDAQ. Options to Océ shares are traded on the Euronext Options Exchange.

Océ N.V.

Pp.Oo. Box 101, 5900 MA Venlo, ~~the Netherlands~~

~~Telephone~~the ~~(+31)~~Netherlands ~~(0)77 3592240~~

~~Telefax~~Telephone (+31) (0) 77 ~~3595436~~359 2240

~~Océ~~Telefax on(+31) ~~Internet:~~(0) ~~http://www.oce.com~~77 359 5436

Océ on Internet:

http://www.investor.oce.com

E-mail: info@oce.com

Trade register Venlo 12002283

Océ enables its customers to manage their documents efficiently and effectively by offering innovative print and document management products and services for professional environments.

~~Press~~[GRAPHIC] ~~release Océ N.V.~~

Final results 2004

Dividend 2004

Annual General Meeting of Shareholders 2005

Final results 2004

Océ confirms that the final results for the 2004 financial year are equal to the provisional results that were published on January 17, 2005. This means total revenues of € 2,652.5 million, operating income of € 110.4 million, net income of € 78.1 million and basic earnings of € 0.89 per € 0.50 ordinary share.

Dividend 2004

As announced on January 17 last, it will be proposed to shareholders to adopt a dividend for the 2004 financial year of € 0.58 (2003: also € 0.58) per ordinary share of € 0.50 nominal. Upon adoption of this proposal the final dividend per ordinary share for 2004 will be € 0.43; the interim dividend amounted to € 0.15. It is proposed to pay out the final dividend fully in cash.

The dividend will be made available for payment as from May 3, 2005. Shares in Océ N.V. will be listed as “ex-dividend” with effect from April 19, 2005.

General Meeting of Shareholders

The Annual General Meeting of Shareholders will be held in Venlo on Friday, April 15, 2005, commencing at 14.00 hrs.

The agenda for this meeting will be available in printed form and also via the internet (www.oce.com) as of March 15, 2005.

Annual Report 2004

The annual report will be published on the internet (www.oce.com) on February 1, 2005 and will be available in printed form as of February 18, 2005.

Océ N.V.

January 31, 2005

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