The financial position of the Group remained solid during the first quarter.

The interest bearing net debt increased from EUR 11 million at the end of the financial year 2007/08 to EUR 130 (126) million at the end of April 2008. The amount of sold receivables decreased from EUR 190 million at the end of the financial year 2007/08 to EUR 68 (76) million at the end of April and was the reason behind this change. The effective net debt including as debt the sold receivables of EUR 68 (76) million equalled EUR 198 (201) million.

Cash and liquid assets increased to EUR 21 (9) million. The available limit in the revolving credit facilities with core banks amounted to EUR 200 (200) million, and the unused limit in the securitisation programmes was EUR 177 (166) million at the end of April.

Net financial items totalled EUR -2 (-2) million during the first quarter. The higher interest rate level and the continuing turbulence in global credit markets will have a negative impact on the net financial items on a yearly level. Net gearing increased to 45 (32) % due to the dividend distribution.