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North America/Northern Europe, South Africa region most important market
From a geographic perspective, we recorded the strongest sales growth in the North America/ Northern Europe region, where sales increased 12 percent net of currency effects to €44.0 million. The license business was a key factor in this significant growth with sales increasing by €3.4 million to €13.7 million. The high-margin license business boosted earnings and contributed considerably to the significant growth in EBITA generated in this region.

In Central and Eastern Europe, we increased sales by 2 percent to €26.4 million. The region Southern and Western Europe achieved the same growth rate and contributed €30.3 million to Group sales. The decline in EBITA is partly a result of our market entry in South America and the resulting start-up expenses that arose as planned.

  Interim Report Q1/05 (PDF)
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