General.
Since our IPO in 2004, our aim has been to grow faster than our markets. For us, this means achieving a consistent increase in the value of the enterprise on behalf of our shareholders, through ongoing growth in net sales and above-average profits. Our long-term planning remains based on annual net sales growth of 6% with a corresponding annual rise of 8% in EBITA (Glossary) .

We intend to harness our full potential to ensure that we not only meet this target of long-term growth but, where possible, exceed it. To date, we have always succeeded in doing so, and at present, we also expect to outperform our long-term planning targets in the current fiscal year 2007/2008 – with projected figures of 8% growth in net sales and an increase of 10% in EBITA.

We hope to achieve this level of growth by pursuing our strategy of global expansion, through innovation and high-end services, and by opening up new markets in industries with a similar environment to banking (Glossary)  and retail (Glossary) .

With regard to our hardware, software and services, our strategy makes provision for an anticipated fall in prices and for ongoing rises in the cost of raw materials. At the same time, we shall continue to implement measures aimed at improving efficiency and reducing costs.