Once again, Addnode showed a strong operational performance. Sales was SEK 648m (535), corresponding to a growth of 21% YoY, which of 12% excluding acquisitions – including a positive FX effect of approximately 5%. Our estimate was SEK 590m. EBITA amounted to SEK 65m (24) and was almost 30% above our forecast of SEK 51m. Also, we increase our Base and Bull case valuations somewhat.