Clavisters Q2’19 results first and foremost showed a continued strong order intake (provides the most consistent view of Clavister’s growth), high gross margins and significant growth within the CSP vertical. Revenues came in lower than expected but with an EBIT in line with estimates (adjusted for the deviation in cap. dev. expenses) – driven by a stronger than expected gross margin. All in all a solid report, on a preliminary basis we will not make any bigger estimate adjustments.