2 0 2 0 Gr o u p Ov e r v iew 18 Pr od uct iv i t y gain s Purc has i ng and produc ti v i ty w orks hop Cost inf latio n prim aril y pay roll c os ts Increa se in profitabilit y 20 18 20 19 be fo r e IFRS 16 92 101 10 4 10 6 A s a 2 0 1 8 o p e ra ti n g ma rgin b e for e non re c u rr ing it e ms 10 4 V o lum e mi x e f f e cts 0 6 P ri ce e f f e ct 1 0 C om m od ity r is k an d custo m s ta r if f s 0 6 Prod uct iv ity g ain s 1 7 C ost inf lation 1 8 Im pa ct f r om ex cha ng e r at es scop e an d ot he r s 0 7 2 0 1 9 o p e ra ti n g mar g in b e fore non re c u rr ing it e ms 106 O pe r atin g i nco m e be f ore no n r ecu r r i ng i t ems m