Westpay (former West International) showed a strong development during Q1; the gross profit margin was exceptional. The biggest news in the report was that Westpay is now an appointed gold partner of Oracle, one of the world's largest suppliers of cash registers in trade, hotels, and restaurants. Westpay is now one of the seven globally preferred partners within Oracles Hospitality. We see a solid growth journey ahead and reiterate our Base-case valuation.