Financial targets

In 2011 the focus will again be on further recovery of the company’s financial position. In this respect, Gamma Holding is aiming for a solvency ratio in excess of 30%. The ratio of net interest-bearing liabilities to EBITDA agreed with the syndicate of banks had been set at a maximum of 3.0 at year-end 2011. The company aims to reduce this ratio structurally to below 2.5.