The market will need some time to understand this is a very positive report,

We have been and will be conducting a radical portfolio review process in the U.S., ... The objective is to assess the positioning of our divisions there to obtain critical mass and raise profitability.

Control your fate or somebody else will

Fiscal 2003 will be a year of challenges, ... We will continue to focus on generating net cash from operations, though progress will be more difficult since we have already made significant improvements.

Despite the challenges being faced by individual groups, we are again aiming for a considerable increase in earnings. The key figures for the first quarter show that we are on the right track.

For new jobs and more employment, we need stronger growth and we can only achieve that via innovation.