Our international business was solely responsible for the rise in net sales revenue in the fiscal year, enabling us to internationalize our operations still further.

In Germany, net sales slipped 0.4 % to € 513 million (previous year: € 515 million). These sales as a percentage of total revenue were down significantly to 29 % (previous year: 33 %).

Europe experienced strong growth with revenue up 18 % to € 902 million (previous year: € 764 million). A key contributor to the positive development was our international business growth program “Road to the Top.” With this program, we aim at becoming the market leader in Europe, a goal that we have already achieved in the retail segment. As a percentage of total revenue in fiscal 2004/2005, European sales (excluding Germany) rose to 52 % (previous year: 48 %).

An even higher percentage increase was achieved in the Americas, where net sales increased by 23 % in U.S. dollar terms. Converted into euros, net sales revenue rose 18 % to € 133 million (previous year: € 113 million). The Americas represented 8 % of total revenues (previous year: 7 %).

In Asia-Pacific and Africa, which are also dollar-based, revenues were up 11 % in U.S. dollar terms. After conversion to euros, sales increased 7 % to € 196 million (previous year: € 184 million). Their percentage of total net sales revenue was 11 % in the fiscal year, compared to 12 % the year before.