Clavister released their report for the fourth quarter this morning, order intake and EBIT came in almost exactly in line with estimates. All in all a solid report that confirms the growth strategy and the positive momentum in Enterprise. We do expect to cut our revenue estimates for the CSP division though as our unrevised estimates appears somewhat optimistic given current market conditions; our fair valuation is SEK 10-71 per share with a base case of SEK 32.