Antolin - comment

The company reports a rise in orders and beat our expectations for the year-end, both on revenue and EBITDA. However, the latter was partially India-related. Working capital was less positive than we had expected; the revenue and EBITDA contributions were still included, and the cash had not yet come in. The India transaction only settled in January 2026 and so is not yet reflected in the cash figure. If we had expectations that management would outline its next steps, the presentation was not yet the forum. We will listen closely to the language on the call this afternoon.