This morning MRG released their Q3 report. The company presented yet another solid quarter with both net sales and profits almost spot-on our projections. In local currencies the organic growth amounted to 27.8%, adding to this is the highly successful acquisition of Evoke. The acquisition integration work is going according to plan, and the company states that the earlier communicated annual synergies of about SEK 40m should be visible from Q4 and onwards. The company confirms yet again that they feel confident in their yearly guidance and we also believe the company will hit that target. We do not expect to make any significant changes to our projections or valuation following the report. We continue to state that the discount to peers is currently too substantial. Our current Base-case stands at 73 SEK per share.