Strategy – Cost reduction

In addition to fully utilising our revenue potential, continuing our strict level of cost discipline will remain important in the current financial year. For 2009 we aimed at lowering fixed costs (personnel expenses, depreciation/amortisation and impairments, other operating expenses; excluding one-off effects and before acquisition-related cost increases) by € 24 million.

In the last financial year we not only achieved this goal, but with savings of € 28.7 million were even able to exceed it. However, despite this excellent result, we have chosen to keep our goal for 2010 and reduce our fixed costs by a further € 10 million.