The gross margin on net sales before carve-out charges declined by 1.3 percentage points in the period under review, down from 27.0% in the first half of 2007/2008 to 25.7% in the first six months of fiscal 2008/2009.

Research and development expenses rose by 4% to €50 million (previous year: €48 million). The R&D ratio remained unchanged at 4.1%.

Selling, general and administration expenses including other operating income and expenses amounted to €164 million (previous year: €171 million). The decline in costs was attributable to enhancement made within the area of “ProImprove”, a Group-wide program that forms the basis for efficient cost management. Calculated in relation to net sales, the selling, general and administration expense ratio was driven down by 1.2 percentage points to 13.3% (previous year: 14.5%).