date:May 15, 2013
Bob Kunze-Concewitz, Chief Executive Officer: 'As anticipated, the results in the first, and traditionally low season, quarter of 2013 were poor, due to the 'one-off' impact of destocking in Italy, generated by so called article 62 which introduced a binding time limit to the payment terms, which determined a significant deterioration of the sales mix, and further exacerbated the weak local consumption trends. Results were strong in the Americas, showing continued positive momentum in the US mar