CSM margin improvement key priority in transition year 2005

Main developments in first half of 2005: - Result after taxes* including exceptional items: EUR 9.8 million - Result after taxes* excluding exceptional items: EUR 34.9 million (first half 2004: EUR 44.3 million) - Earnings per share* including exceptional items: EUR 0.13 - Earnings per share* excluding exceptional items: EUR 0.46 largely as a result of disappointing results at CSM Bakery Supplies Europe and CSM Biochemicals (first half 2004: EUR 0.54) - Earnings per share* including the effect of discontinued operations, the sale of CSM Sugar Confectionery, and exceptional items: EUR 4.85 - Net debt position reduced from EUR 865.9 million to EUR 410.4 million compared with 31 December 2004

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