As previously reported, an extensive reorganization was implemented at the beginning of 2006. This resulted in NGup becoming profitable again from May onwards. The losses of 2004 and 2005 have not been fully recovered, but we are on the right road. Consequently, our financial position has significantly improved. Our solvency ratio and our liquidity in particular are much healthier. Turnover has increased to 1.3 million euro and our profitability is good.

Operational improvements have been made as well. This is partially attributable to investment in plant and machinery. Other primary areas requiring changes were quality, safety and the environment.

Expert partners, who collaborated with us in the implementation of special projects, also contributed to the successes of 2006. The collaboration with the University of Twente is an excellent example.

We expect further controlled growth in 2007 in the areas of maintenance, production and special projects. To accommodate this growth, we have invested in a new production plant and equipment for on-site repairs.

We are particularly excited about NGup Rotor Blades’ increasing involvement in the development of new rotor blade designs and the installation of production lines in Asia. We expect a turnover of between 1.5 and 2.5 million euro in 2007. It is difficult to be more specific at this early stage. The actual turnover will depend on whether or not orders are received for a number of major special projects. We continue to focus on fulfilling orders on time and within budget while maintaining high quality standards. Without losing sight of the financial situation.

And, last but not least, we will of course do everything in our power to meet customer expectations and maintain customer satisfaction.