The gross margin for the quarter was 54%, which is 3 percentage points lower compared to 57% in Q1 '14. The year on year decrease was mainly due to weakening of the euro against the US dollar.
At constant currency rates for the US dollar and GB pound, our gross margin and operating result were relatively flat year on year whilst revenue was slightly down.
|
Actual key Q1 '15 financials recalculated
based on last year (Q1 '14) FX rates
|
Q1 '15
actual reported |
Q1 '15
recalculated at Q1 '14 FX rates1 |
||||
| Revenue | 205 | 199 | ||||
| Gross result | 110 | 113 | ||||
| Gross margin | 53.5% | 57.0% | ||||
| EBIT | -5 | 2 | ||||
| EBIT margin | -2.5% | 0.9% | ||||
| P&L RATES IN € | Q1 '15 | Q1 '14 | ||||
| US dollar | 1.15 | 1.37 | ||||
| GP pound | 0.75 | 0.83 |
