Q1 2008/09 at a glance • Revenue came to USD 113.6 million, up 13% from the year-earlier level • The Aftermarket Division: USD 77.9 million and 15% growth • The OEM Division: USD 35.7 million and 10% growth • Gross margin: 21.6% compared to 21.3% in the same quarter last year • First-quarter EBITDA margin before special items: 8.0%, which is on a par with last year • In the period in review, losses on currency hedging came to a total cost of USD 6.1 million against an income item of USD 2.2 million last year • EBITDA: USD 2.7 million against the year-earlier level of USD 10.3 million • Earnings before tax: USD 0.2 million against USD 5.6 million in the same quarter last year • Earnings per share, diluted: a modest USD 0.05 • The cash flow from operating activities was negative in an amount of USD 10.2 million against a negative cash flow of USD 2.4 million in the same quarter last year. Outlook for 2008/09 Because of the uncertainty in the market of the Aftermarket Division which is more pronounced than previously, and as the Aftermarket Division accounts for some two thirds of the Group's revenue, the total outlook for fiscal 2008/09 is characterized by more uncertainty than usual. The Group maintains the forecast for full-year revenue and EBITDA margin before special items. A strengthening of the USD rate means a higher amount in negative adjustments of currency contracts to a total of USD 10.6 million against the previous forecast of USD 2.5 million. That is the main reason why the amount in earnings before tax is now expected in the range of USD 15 million against the previous forecast of USD 20-25 million.