Annual Report

The report describes the Group's 2009 crisis response: sales fell sharply, while cost cuts of approximately €130 million and a successful rights issue helped eliminate net debt and produce a net cash position. It reports resumed organic and external growth, including a preliminary agreement to acquire Becker Stahl-Service, and a 15% workforce reduction. Environmental actions included switching most of the German transport fleet to Euro 5 and taking part in the Carbon Disclosure Project for the first time.