Bodo Uebber Quotations

Overall, the funded status changed from an undercover of EUR6.6 billion to an undercover of EUR7.2 billion. In the medium term, we aim to fully cover our pension obligations.

Our dealer stocks are a little bit high but we believe this is necessary to support the spring selling season.

The increase was primarily a result of reductions in discount rates to 4% for German pension plans and to 5.4% for non-German pension plans.

We expect ongoing pressure from higher raw materials.