Operating cash flow and net working capital trend encouraging

The prior-year figures for EBIT were adjusted because we no longer report the return on plan assets in connection with pension obligations as part of EBIT. It is now reported under the Group’s net finance costs/net financial income.

Division EBIT was €191 million in the year as a whole (previous year: €362 million) and €23 million in the fourth quarter (previous year: €73 million). Adjusted for restructuring costs (€81 million; fourth quarter: €44 million), EBIT before non-recurring items was €272 million in full-year 2009 (previous year: €403 million) and €67 million in the fourth quarter (previous year: €114 million). We have continuously reduced operating and indirect costs by means of restructuring and cost reduction programmes. Moreover, our sales team was successful in generating new business.

Thanks to strict cost management, we maintained operating cash flow at a high level in 2009 (€528 million; previous year: €630 million). In the fourth quarter, however, operating cash flow was impacted by restructuring costs.

Net working capital performed very well in 2009, amounting to €271 million (previous
year: €514 million). This allowed us to compensate in part for the effect of the
decline in earnings on operating cash flow.