Investor Presentaiton

Management's Discussion and Analysis Nine months ended September 30, 2011 CONTENT Business overview.. Key 2011 events. Business structure..... Financial and operating highlights Sales volume. Revenue Cost of sales............ Gross profit........ Selling, general and administrative expenses.. Foreign exchange loss/gain, net Gain on changes in fair value of derivative financial instrument Finance costs, net. Income tax Net income... Adjusted EBITDA. Liquidity and capital resources.. Cash flows.... Indebtedness Capital expenditure..... Development trends. Selected financial data.. Responsibility statement.. Investor information 2 3 4 5 6 7 8 11 13 14 14 15 15 15 15 16 16 17 18 18 20 22 23 1

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