The numbers in today's Q4 report were all known from the profit warning. There were only a few nuggets in the report. The conference call at 9 am today is therefore FPC’s chance to open up and be completely transparent on its problems and the plans to fix them. We especially note that the main focus in the report seemed to be on the activities that will have effect in Q2, i.e. the cost cutting. These are defensive actions though. FPC stated that in order to "safeguard the long-term development and success" it is necessary to reduce the workforce by 185 positions. We would have preferred to read about a more offensive growth approach.