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The Sheet Metal Processing segment (Bystronic) generated net revenue of CHF 801.4 million in 2020 (previous year: CHF 936.0 million). At stable exchange rates, revenue declined by 9.4%. Order intake was CHF 777.4 million (CHF 929.4 million), 11.4% lower than the previous year on the same basis, and the order book level at year-end was CHF 206.8 million (CHF 242.3 million). The operating result amounted to CHF 52.3 million (CHF 121.1 million) with an EBIT margin of 6.6% (12.9%). Following an already weaker trend in the sheet metal processing market in 2019, customer demand collapsed in the first half of the year due to the pandemic and the widespread lockdowns. On the production side, there were certain supply bottlenecks and the temporary shutdown of some of our own plants. In the second half of the year, there was a partial recovery in business activity across all regions and product areas, with order intake in the fourth quarter 2.4% higher than in the same quarter of the previous year (8.4% at stable exchange rates). The lower operating result compared with the previous year resulted from the loss of revenue, increased margin pressure as well as expenses in connection with the strategy implementation. Various steps were taken to strengthen Bystronic's market position in the reporting year, consistent with its "Strategy 2025". They included the takeover of Weber Laserservice BV, a longstanding Benelux service partner, and the acquisition of the remaining minority interests in DNE Laser in China. In Korea, construction commenced on a new building with an area of more than 3,000 m^2, which will serve as the headquarters for the local organization and also house a brand experience center for the Asian growth market.