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lncrease selectivity in capital allocation and strengthen financial structure

lmprove operational and financial performance, while continuously upgrading customer service

ACTIVELY MANAGE portfolio to focus on most attractive geographies/businesses.

INCREASE selectivity in capex allocation.

INCREASE profitability in all countries: - Increase gross margin through pricing and supplier consolidation - Control cost base and focus on opex supporting growth strategy

STRENGTHEN balance-sheet through deleveraging, while maintaining an attractive dividend policy.

SEIZE targeted M&A opportunities with strict value- creation criteria.

ENHANCE operations in key geographies: - Top priority for the Group: Grow and increase efficiency in the US - Transform or turn around operations in three key markets: Germany, Australia and the UK

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