Outlook for the divisions and the group

Orell Füssli is expecting a revival in demand for new digital printing solutions in 2011. Despite a revival in the market, a subdued financial year is expected in security printing, due to keen international competition and the fact that production of the new Swiss banknotes is not planned until the fourth quarter. In the book retailing business further changes in the market environment representing both risks and opportunities are imminent. All in all the Orell Füssli Group foresees further operating progress and increases in sales and earnings in 2011, which as yet are difficult to quantify.