Focus on increasing free cash flow

To increase the enterprise value, the Group focuses on maximizing free cash flow. Maintaining positive free cash flow in the long term secures the Group's financial independence and its solvency at all times. Increasing sales and operating income, defined as EBITDA (earnings before interest, taxes, depreciation) before special items constitute the main levers for improving free cash flow. Strict management of trade net working capital and value-oriented investment activities also support the development of free cash flow.