Q1 2010/11 at a glance: • Revenue: USD 88.9 million (32%, contributed by acquisition: 12%) • Gross margin: 21.0 (20.5) • EBITDA: USD 8.9 million (USD 4.8 million) and EBITDA margin: 10.1% (7.2%) • EBIT: USD 7.7 million (USD 3.6 million) and an EBIT margin of 8.6% (5.4%) • Profit before tax: USD 6.3 million (USD 2.3 million) • Cash flow from operating activities: USD 2.1 million USD (USD -10.7 million USD) Divestment of OEM activities Satair divested its OEM activities effective from October 27, 2010, and the profit on the sale will not be recognized until in the interim report for Q2 2010/11. The decision to sell the OEM activities was made in Q1 2010/11, and so the OEM activities are considered discontinuing effective from July 1, 2010. Accordingly, the main focus of this interim report will be on developments in the Aftermarket. Guidance for FY 2010/11 Satair maintains the guidance announced on October 25, 2010 in connection with the divestment of the OEM activities: the revenue forecast is unchanged at around USD 350-360 million for the continuing Aftermarket activities, reflecting 15% in growth from the year-earlier level; the gross margin is forecast at around 20.0; EBITDA at around USD 30.0 million and the EBITDA margin at approx. 8.5%; profit before tax is forecast at approx. USD 22 million less the result and profit for the discontinuing activities, and profit after tax from the discontinuing activities is expected to contribute USD 66 million. The full-year forecast for the cash flow from operating activities is around USD 15 million.