Economic slowdown affects businesses in the second half of the year
Excluding currency effects, sales decreased 4.2 percent to 3,032 million Euro
SG&A costs decreased by more than 100 million Euro, exceeding the targeted amount
Recurring EBIT at 138 million Euro versus 197 million Euro in 2007
Net result at minus 167 million Euro, taking into account non-cash charges: an impairment loss of 119 million Euro and an exceptional deferred tax charge of 34 million Euro
Strong reduction of net financial debt from 723 million Euro in the third quarter of 2008 to 673 million Euro in the fourth quarter of 2008, despite the worsening business conditions in the fourth quarter