Beyond this, the supervisory board reviewed, discussed and ratified the annual and consolidated financial statements for fiscal 2008; the annual financial statements were thus approved. As previously announced, Group sales in 2008 (1 January to 31 December) were up by 1.5 % to € 338.8 million (previous year: € 333.7 million). In the final group accounts the operating result (EBIT) is even higher than originally reported based on preliminary figures, rising to € 25.5 million (previous year: € 18.3 million). Consolidated earnings after deductions for taxes and minority interests amount to € 14.6 million (previous year: € 6.7 million). This corresponds to earnings per share of € 1.67 (previous year: € 0.76). The Group balance sheet total amounts to € 170.1 million (previous year: € 176.6 million). Free cash flow (cash flow from ongoing business activities minus investments and interest paid out) registers an increase in 2008 to € 17.5 million (previous year: € 13.6 million).
The results of fiscal year 2008 as well as the course of business in the first three months of the current 2009 fiscal year will be presented in detail at the annual balance sheet press conference of Hawesko Holding AG on 29 April 2009.