Tecnotree’s net sales for the financial period were EUR 60.1 (76.5) million, 21.4 % lower than a year ago. Revenue from goods and services declined by EUR 10.2 million, revenue from contract work recognized by stage of completion declined by EUR 3.8 million and revenue from maintenance and support declined EUR 2.2 million. The net sales for 2016 include recorded EUR 0.4 million of positive exchange rate difference mainly due to the fluctuations of the US dollar against the euro. Net sales in Europe and Africa decreased by EUR 10.1 million and net sales in MEA and APAC decreased by EUR 6.3 million.
Further information about sales and net sales is given below in the section “Geographical areas”.