In 2007, the Group generated revenue growth of 11% in local currencies, or DKK
5,488 million. Revenues were adversely impacted by exchange rates by just under
3%. Operating profits (EBIT) amounted to DKK 1,268 million, however DKK 1,398
million before special items, including non-recurring costs of DKK 140 million
relating to a US patent case. The profit margin is 25.5% before special items.
As a result of the weakening of the US dollar in particular, operating profits
for 2007 are negatively impacted by exchange rates in the amount of DKK 40
million. In 2008, the Group forecasts revenue growth of 7-10% in local
currencies in a market which is expected to grow by 3-5%. After recognition of
a negative exchange rate effect of 3%, the Group expects revenues in 2008 in
the amount of DKK 5,700-5,850 million. In 2008, we expect operating profits
(EBIT) of DKK 1,400-1,500 million, including a negative exchange rate effect of
approximately DKK 60 million. The all-year effect on operating profits of the
most recent period's unfavourable exchange rate fluctuations can thus be
calculated at about DKK 100 million after recognition of the adverse exchange
rate effect of approximately DKK 40 million in 2007. In 2008, the Group intends
to continue to buy back shares in the amount of DKK 900 million.
