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Investor Presentation May 2017 slide image

Investor Presentation May 2017

GROSS MARGIN FROM RECURRING OPERATIONS HELD UP WELL GROSS MARGIN FROM RECURRING OPERATIONS (in€m) +3.5% at constant GROSS MARGIN FROM RECURRING OPERATIONS (as a % of net sales) لا 2016 17,985 exch. rates 2015 18,019 لا 2016 23.5% +10bp 2015 23.4% 기 INVESTOR PRESENTATION May 2017 | 39
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