Steffan Selbach

“The management assumes that the positive trend in the global economy continues. The current position has been maintained. Due to the global economic pick-up and the rising enterprise revenues, in the first quarter of the year the stock market rose. Because of increasing raw material costs and a decrease of the strong economic dynamic it will be challenging for the enterprises to develop higher returns in the coming months. After the strong boom since autumn 2010, it possibly may come to temporary phases of weakness on the stock market.”