Q3 sales were up +3% (organic: +6%) to US$4,231m and the gross profit margin was up +1.4pp to 32.7%. EBITDA rose +3% to US$793m and net profit attributable to shareholders weakened by 3% to US$262m. Operating CF dropped 19% to US$579m due to lower NWC inflows. Investing CF benefited from significantly lower acquisition costs, moving up from US$-837m to US$281m. Management confirmed 2015 guidance, always based on cc, expecting revenue growth of 5-7% and net income to increase 0-5%. In 2016, re
