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investments made in the quondam significantly depressed the existing bottlenecks and distended production capacities. However, bottlenecks experienced during the past year are still actual. A survey of inner and external customers revealed a continued high claim. Therefore, in some districts still extra exertions are necessitated to be skillful to serve entire third-party customers' requirements as well as the needs of the Group's own brands in a amenable style. Especially because priceless see models, it is still complicated to deliver all backorders in period. The current mandate paperbacks persist apt be above tall levels and denote a positive development of the Production segment. With production fleeing at full capacity, this qualified the profitability of the segment in the year beneath review to once afresh amplify considerably. The muscular heave to one operative margin of 16.1% was helped by the beyond increased volumes, high utilization of production facilities and, once afresh, a more favorable product mingle towards high-end watch movements. With the divestment of the Group companies Sokymat Automotive GmbH (Germany) and Michel Pr?zisionstechnik AG (Switzerland) in the second half of 2008, the Group significantly reduced its exposure to the hard-hit automotive industry. This strategic move, already judged in 2007, before whichever signs of industry recession, underpins the Group's focus on its core activities. Adjusted along the 2 divestments, the Electronic Systems segment gross bargains decreased by 12.9%. The changed mart context for the Electronic Systems segment, with a strongly impacted car sector and a slump in demand for mobile phones, led to this another reduction in gross bargains. The segment's operating profit achieved CHF 104 million in the year under review, which represents an operating margin of 19.8%. However, this includes the acquisitions on disposal of two Group companies valuing to CHF 45 million. On the additional hand, lower capacity utilization and progressive price pressure on electronic components continued to impact the operating margin during 2008. In 2008 [link widoczny dla zalogowanych], amuse income was down due to fewer short-term deposits outstanding and lower interest rates. The highly negate rendition of stock markets led to premonitory unrealized losses on marketable securities, on locations of companies mostly with solid entrepreneurial values. Given namely all marketable securities held by the Group are comprised in the category ?fair-value- through-profit-or-loss?, as well as the objective not to fulfil sales below the initial purchase merit, i.e. if necessary to reserve them for a longer duration, the financial result will continue to be volatile in the future and affect the Group's net income. In increase, the general development of foreign currencies with a feeble Euro and US Dollar, as well as sudden negate currency moves in December in countries in which the Group gave predilection to a financing through loans, resulted in a foreign commute loss for the year of CHF 35 million. Income tax An thinking of the earnings impose charge is set out in Note 7 to the consolidated financial expressions. The income tax charge as a percentage of profit before impose was 16.7% in the current year compared to 20.3% in the previous year. The main cause for this dwindle was the dissolution of tax provisions following the accommodation of tax discussions in 2008. Proposed dividend At the General Meeting on 15 May 2009, a bonus for the financial year 2008 of CHF 0.85 (2007: CHF 0.85) for enrolled shares and CHF 4.25 (2007: CHF 4.25) for bearer shares ambition be intended. This dividend [link widoczny dla zalogowanych], totalling CHF 237 million with a cash-out shock of CHF 223 million, has no been recognized as a responsibility in the consolidated financial statements at 31 December 2008. Earnings per share Basic