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DES GB 11 Finanzbericht englisch

Group MANAGEMENT business and economic conditions remuneration report overview of the course of business Results of operations, financial position and net assets Environment report on events after the balance sheet date risks and opportunities management, internal control system outlook 5 6 7 10 17 18 18 22 REPORT 2011 4 DES Annual Report 2011 GRoup MAnAGeMent RepoRt business and economic conditions