Consolidated result over 2009

CONSOLIDATED RESULTS FOR THE YEAR 2009

• Operating income at €522.2m in 2009, a decrease by 8.6% compared to 2008
• EBITDA maintained at €50.6m, against €50.8m in 2008, supported by higher gross margins on packaging segments and a general focus on cost reductions 
• Lower capital expenditure and working capital optimisation contributed to reducing net financial debt to €67.7m 
• Proposed gross dividend of €0.75 per share
• Increased (recycled-) paper prices and raw materials expected to squeeze margins in 2010