3rd quarter
2008/20091

3rd quarter
2007/20082

Change

9 months
2008/20093

9 months
2007/20084

Change

1)

April 1, 2009 – June 30, 2009.

2)

April 1, 2008 – June 30, 2008.

3)

October 1, 2008 – June 30, 2009.

4)

October 1, 2007 – June 30, 2008.

5)

before profit charges arising from carve-out.

6)

including other operating income and expenses.

7)

net profit on operating activities before interest, taxes and amortization of goodwill and product know-how.

8)

including minority interest.

Financial Statement (€ million)5

 

 

 

 

 

 

Net Sales

496

555

–11%

1,729

1,738

–1%

of which Banking

330

365

–10%

1,195

1,183

1%

of which Retail

166

190

–13%

534

555

–4%

Gross profit

129

158

–18%

446

478

–7%

Gross profit as a percentage of net sales

26.0%

28.5%

–

25.8%

27.5%

–

Research & development expenses

–28

–27

4%

–78

–75

4%

R&D expenses as a percentage of net sales

5.6%

4.9%

–

4.5%

4.3%

–

Selling, general and administration expenses6

–66

–80

–18%

–230

–251

–8%

SG&A expenses as a percentage of net sales

13.3%

14.4%

–

13.3%

14.4%

–

Operating profit (EBITA)7

35

51

–31%

138

152

–9%

EBITA as a percentage of net sales (EBITA margin)

7.1%

9.2%

–

8.0%

8.7%

–

of which Banking

30

40

–25%

114

122

–7%

as a percentage of net sales banking

9.1%

11.0%

–

9.5%

10.3%

–

of which Retail

5

11

–55%

24

30

–20%

as a percentage of net sales retail

3.0%

5.8%

–

4.5%

5.4%

–

Amortization/depreciation of property, plant and equipment and licenses and write-down of reworkable service parts

14

14

0%

40

37

8%

EBITDA

49

65

–25%

178

189

–6%

EBITDA as a percentage of net sales (EBITDA margin)

9.9%

11.7%

–

10.3%

10.9%

–

Profit for the period

23

32

–28%

87

93

–6%

Profit for the period as a percentage of net sales

4.6%

5.8%

–

5.0%

5.4%

–

Profit for the period (before carve out)

23

34

–32%

91

100

–9%

Profit for the period before carve out as a percentage of net sales

4.6%

6.1%

–

5.3%

5.8%

–

 

 

 

 

 

 

 

Cash flow (€ million)

 

 

 

 

 

 

Cash flow from operating activities

 

 

 

154

159

–3%

 

 

 

 

June 30, 2009

September 30, 2008

Change

Key Balance Sheet Figures (€ million)

 

 

 

 

 

 

Working Capital

 

 

 

193

253

–60

as a percentage of net sales (annualized)

 

 

 

8.4%

10.9%

–

Net debt

 

 

 

156

194

–38

Equity8

 

 

 

300

276

24

 

 

 

 

 

 

 

Human Resources

 

 

 

 

 

 

Number of Employees

 

 

 

9,391

9,460

–69