Hexatronic’s report for the third quarter of the split financial year of 2015/16 was strong and exceeded our expectations, primarily on the revenue levels. The organic growth amounted to an impressive 42% during the quarter. Hexatronic has invested heavily in production personnel to be able to handle the substantial demand; this dampens the current profitability levels but enhances the prospect of a future margin expansion. We have adjusted our growth forecast because of; strong revenue momentum and the acquisition in New Zealand. The new assumptions generate an increased fair value estimate, in Base-case, of 27 (25) SEK per share.