Results first glance - in-line with expectations FDE reported FY H1 22 (Dec 2021) results which were in-line with our expectations. Revenues of EUR 9.1m were previously announced. EBITDA of EUR5.7m included a EUR1.2m decommissioning provision reversal; stripping this out underlying EBITDA of ~EUR4.5m was ~2% ahead of our EUR4.4m estimate. Operating cash-flow (pre w/c) of EUR4.9m was in-line with our forecast. Period end net debt to equity of 44% was below our 51% estimate. No change to our est. ....