Strong Q1 22 underlying operating performance even if write-downs weigh on NP Illimity posted NP of EUR15.7m (vs EUR18m expected) in Q1 22, with good quality of underlying profitability. Revenues were EUR78.5m, with the growth division up +59%. Business origination was very strong (factoring +67%, turnaround +433%, cross-over +14%, +375% in senior financing and +160% in distressed credit investments). Fees were strong thanks to ECM and the strong recovery of the RE business. Cost/income decline ....