• Strong 3PC growth +6% vs cons. 98% collection performance (seasonality)• Gross revenues +4%/-1% vs ARCe/cons• EBITDA +9%/+1% vs ARCe/cons, mainly positive 3PC rev and opex• Cash EBITDA +6%/+0% vs ARCe/cons, -15% y-o-y following portfolio sale• Generally in-line / neutral report for bonds
