16 feb

Outlook 2011 realised

Financial highlights Q4 2011
 Net sales
Up 3% to € 727.3 million due to acquisitions and organic growth at Direct & Institutional.

EBITA from ordinary activities
Up 16% to € 37.1 million mainly related to growth at Direct & Institutional; all segments reported growth.

Net result
Up 23% to € 22.8 million due to higher EBITA and lower finance costs.

Change in presentation revenues
of two Swedish distribution contracts with effect from 2011 Annual Report; see annexe 2 for more information.

Financial highlights 2011

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