G5’s Q4-report had a lower EBIT than expected. The seasonal pattern was exactly the same as last year’s Q4-report and the EBIT-margin slightly higher. Since our last research update, two major uncertainties have been solved in the best possible way according to us. The management will likely continue to invest in growth, more aggressively than previous estimated. The growth rates for 2018 and 2019 have therefore increased in our financial projection.