Full-year revenue in Europe was down 5 percent. The divestment of Building Adhesives had an impact of 2 percent. Volumes were stronger in Eastern Europe (especially Turkey and Russia), but most countries continued to be impacted by weak demand. Restructuring measures and various operational efficiency improvement programs led to a lower cost base. As a result, operating income was higher than the previous year.
In Q4, revenue was down 10 percent due to an impact from divestments (7 percent) and adverse currency effects.