In Europe (excl. Germany) net sales during the first three months was 2% ahead of an excellent performance in the same period last year to € 265 million (previous year: € 260 million). Europe continues to generate the largest share of Group revenue, namely 55% (previous year: 57%).

In Germany, revenue during the first three months was good, as expected, improving 8% to
€ 124 million (previous year: € 115 million), having fallen (down 8%) during the same period last year. After years of stagnation, the banking business demonstrated a great upwards trend. Business with the retail sector, on the other hand, experienced a weak quarter as expected. Germany accounted for 25% of total net sales (previous year: 25%).

In the Americas, revenue in US dollar terms improved 18% during the first three months. After conversion to euros, revenue was up 30% to € 39 million as opposed to € 30 million in the same period last year. The Americas make up 8% of total net sales (previous year: 7%).

In Asia-Pacific & Africa, also a US dollar region, dollar revenues were up 8% on last time. In euro terms, revenue improved 20%, ending the quarter as expected up € 60 million on the same period last year. Asia-Pacific & Africa accounts for 12% of total net sales (previous year: 11%).