We have launched a performance improvement program to strengthen our competitiveness, enhance our ability to grow, simplify our support structures and reduce our cost base. This simplification and standardization of our support structures implies a significant change in our operating model and business culture. The program, which we announced in October 2011, is a comprehensive three-year plan to improve our performance and deliver €500 million EBITDA by 2014. The program includes business restructuring and is to deliver €200 million EBITDA in 2012. This implies higher restructuring cost for the coming year. The program is on track and the first update on progress and financial impact is due in our 2012 half-yearly report.
Selected Keyword: ‘Business Segments’