Investors

2011 Revenue per market

In € millions IFRS	2011	2010	% var.
Revenues	253.6	226.3	+12.0%
Gross margin	148.6	132.1	+12.5%
gross margin %	58.6%	58.4%
Current Operating income	30.1	27.3	+10.4%
% current operating income	11.9%	12.1%
Other operating expenses	(1.6)	-
Other operating income	-	-
Operating income	28.5	27.3	+4.6%
operating margin %	11.3%	12.1%
Cost of net financial debt	(4.8)	(5.6)	-13.7%
Other financial income and expenses	0.2	(0.7)	-
Net pre-tax profit	23.9	21.1	+13.4%
Tax expense	(8.3)	(6.2)	+32.4%
Net profit, Group share	15.6	14.8	+5.5%
Net profitability %	6.2%	6.5%
Earnings per share (base)	2.32	2.33

In € m IFRS ASSETS	31/12/11	31/12/10	In € m IFRS LIABILITIES	31/12/11	31/12/10
Non-current assets	209.9	189.4	Shareholder equity	236.1	168.8
Non-current assets	209.9	189.4	Non-current liabilities	103.9	124.3
Goodwill	93.5	83.9	Non-current financial debts	87.3	108.4
Intangible assets	9.3	6.3	Employee benefits	2.9	2.2
Tangible assets	103.2	92.3	Deferred taxes liabilities	11.4	11.2
Financial assets	1.2	0.7	Derived instruments non-current	2.3	2.5
Deferred tax assets	2.5	5.7
Derived instruments non current	0.3	0.5
Current assets	216.3	168.7	Current liabilities	86.2	65.0
Inventories	115.2	98.2	Current provisions	-	0.6
Payable tax assets	0.7	3.1	Payable tax liabilities	1.6	1.3
Customers and other debtors	61.6	49.6	Suppliers and other creditors	65.2	51.2
Derived instruments current	1.2	0.3	Current financial debts	17.6	9.9
Cash and cash equivalent	37.7	17.5	Derived instruments current	0.9	0.7
			Bank overdrafts	0.9	1.3
TOTAL ASSETS	426.2	358.1	TOTAL LIABILITIES	426.2	358.1