Outlook

Revenue and operating income, as referred to in the outlook, are both on a constant currency basis and excluding special items. Special items will be provided as separate KPI (“Operating income excl. special items”) to capture effects that are unusual in nature and have not been foreseeable or not foreseeable in size or impact at the time of providing the outlook. These items are excluded to ensure comparability of the figures presented with the Company’s financial targets which have been defined excluding special items.

Growth rates as shown above are year-on-year basis

Operating income excluding special items; margin in percent of revenue

Assumptions to our margin aspirations include: broadly stable currency exchange rates; no further escalating geopolitical conflicts, tariffs and trade barriers; no major disruptions, such as, but not limited to, changes in regulatory environment and reimbursement systems, disruptions in financial markets, of global supply chains and at our manufacturing sites as well as new or potential export/import restrictions across key markets.