At the end of the first half of this year, liqu. funds were €2.7mio (+45.5% in comparison with the first half of 02 and +9% in comparison with the first quarter of 03). The cash flow from current business activities of €1.03mio (+149.2% over the first half of 02) confirms the positive development. With effective date of 30 June 2003 there is a backlog of unfilled orders of €19.18mio (+36.7% in comparison with the 4th quarter of 02 and +33.7% in comparison with the first quarter of 03). Without including NSE Software AG, there is a backlog of unfilled orders of €15.18mio (+5.8% in comparison with the 1st quarter of 03). With a first-half turnover (TO) of €28.46mio (-4.3% in comparison with the first half of 02), the BFSGroup nearly reached last year's level. With an amount of T€546, EBITDA shows a clearly positive value. Without including NSE, the EBITDA with a value of T€662 (+8.3% over the first half of 02) clearly exceeds last year's value. The EBIT of T€-690 was strongly influenced by amortizations of goodwill and therefore cannot be compared with the year 02. BFS, GER, managed to gain ground over the 1. half of 02 with respect to turnover (+6.75% to €12.16mio), EBITDA (+157.6% to T€564) and EBIT (+162.2% to T€290). Although the companies in CH and the NL showed a decrease in TO, EBITDA and EBIT improved over the previous year. TO, EBITDA and EBIT decreased in A and IT. A respectable result was achieved in Italy with a TO of €7.88mio and an EBIT of T€528. With a TO of €24.59mio and an operating result of T€528 the PS Div achieved a very good result. The CN Div generated a turnover of €2.41mio and thus shows a clearly positive trend. The operating result is still encumbered by high investments in new products and therefore neg. with an amount of T€-310. The Fin. Sol. Div is currently exclusively influenced by the results of NSE which have been included in the consolidated profits since May03. The TO of €1.46mio and the operating result of T€-270 are within the expected margin. The results of the divisions do not contain group costs in the amount of T€690. The results of the divisions cannot be compared with the previous year's figures because relevant parts of the group costs have been distributed among the div since the 2nd half of 02.