Redeye reiterates its positive long-term stance on Hexatronic following yesterday’s agreement with KCOM worth up to 3 MGBP. Even if the 3 MGBP is not material it highlights a relatively healthy business environment, even in the midst of the corona crisis. Another key take-away is that all the products that Hexatronic will supply are part of its Matrix system. Lastly, even if the potential near-term fallout from the corona crisis is difficult to gauge, we believe investors should look to Hexatronics underlying momentum in its strategic growth markets, exemplified lately by the SEK 40 million submarine cable order, and now this agreement with KCOM. The agreement will not affect our estimates and base case is left unchanged at SEK 64 per share.