Impressive EBITDA growth in Q3 while the EBITDA guidance given before the Covid crisis was confirmed. All in all we are confident that, in 2021 as in 2019, and after a slight decline in 2020, revenues should grow by around 2%/3%... while the EBITDA margin should further improve. We reiterate our strong buy on the stock which is trading at a 30% discount to its February levels.