Today Hexatronic released their report for the last quarter of 2017. The performance during Q4 was adversely affected by a slowdown in the Swedish market for fiber investments, and the reported figures came in below our projections. The company remains confident about the coming years and views the downturn as only temporary. The key event during the quarter was the acquisition of US-based duct manufacturer Blue Diamond Industries. We will trim our estimates for H1’18, due to the somewhat softer Swedish market, but don’t expect to make any larger adjustments to our valuation as we view the long-term prospects as undoubtedly favorable for Hexatronic.