Stillfront Group delivered a solid report for the third quarter of 2017. Both the net sales and EBITDA were almost spot-on our projections. The trailing 12-month revenue levels set new records and have now been increasing for 34 consecutive months. We expect that more records will be set during Q4. War and Peace was released in October, Stillfront states that it is the best for launch to date with strong monetization metrics. The gross ranking already exceeds World at War, which stood for about 18% of net sales with approximated revenue of SEK 8.2m during Q3. We have made some positive forecast adjustments, both short- and long-term. Our increased Rating has also had a positive effect on the valuation. Our estimated Fair value, in Base-case, is increased to 161 (134) SEK per share. In our view, Stillfront seems reasonably priced. But as always, new releases can of course surprise us, and create substantial return for Stillfront’s shareholders.