Due to the moderate market conditions and negative translation effects resulting from the strength of the Euro against the US dollar, Sales of the Business Area in 2004 increased only slightly to 99 MEUR (2003: 99.2 MEUR).  Excluding exchange rate effects, Sales would have increased by approximately 2% compared to 2003.

Earnings developed unsatisfactorily.  Due to costs of approximately 2.4 MEUR relating to the restructuring of the Business Area and translation effects as a result of the weak US dollar, EBITA dropped to 2.2 MEUR in 2004 (2003: 4.8 MEUR).  The restructuring should result in annual Earnings improvements of 2.0 MEUR, starting from the middle of 2005.

The Business Area’s largest-capacity feed pelleting lines installed in Asia and South America were successfully commissioned during the year.

Order Intake in 2004 decreased to 92.0 MEUR (2003: 102.0 MEUR).  This is mainly due to the weak US dollar and the limited number of larger orders for complete systems.