Financial Overview

(in million euros)

	FY2010	FY2009	Rate of change(%)	Factors
Sales	196.2	152.6	28.6	1)
Operating profit	14.1	3.7	281.0	2)

Factors
1)
-In 2010, the Company's consolidated turnover of 196.2M Euros, an increase of 28.5% compared to 2009. Gaining new market shares in Asia, the Group took profit of a particularly sustained activity; in Europe, it benefited from the success of the German manufacturers.

-Businesswise, the Group was awarded M€ 57 per year of new orders, with a lifetime between 5 and 10 years, carrying growth for the coming years.

2)
-The increase of the volumes and proportion of products with a higher added value as well as the continuous efforts of cost improvements, contributed to the Group financial performance:
· Operational result 7.2%;
· Net result of 10M euros with 3 consecutive positive semesters;
· EBITDA accounting 14% of turnover.

R&D Expenditure

(in thousand euros)

	FY2010	FY2009
Overall	901	864

Capital Expenditure

(in thousand euros)

	FY2010	FY2009	FY2008
France	1,011	115	1,733
Hungary	2,646	360	9,575
Italy	-	-	(3,008)
China	1,148	798	356
Mexico	495	161	554
Serbia	875	2,038	3,140
Total	6,175	3,472	12,350