All for One Steeb AG´s (ISIN DE0005110001, Prime Standard, A1OS GY) performance in 2014/15, as evidenced in its Annual Report, has exceeded our expectations which we had raised in response to the figures for Q3 by a little in the case of its sales revenues and by a substantial amount in the case of its EBIT. In spite of the fact that financial expenditure was greater than anticipated due to an adjustment of the 2013/14 figures in accordance with IFRS the EPS also exceeded expectations. In our opinion, this positive performance was primarily due to