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Stefan, Super find! Great colors!
This one appears to be made by the same company as my "Gloria" Back Bow.
http://germanaustrianhats.invisionzone.com/index.php?/topic/130-ems-hutfabrik/
I have some other hats with the same paper label and made of similar wool. I think they might be from one of the pre WWII east German hat companies.
Is there writing under the "Germania" on the sweatband?