Strong beat on reported numbers after lower amortisation following write-down in Q4EBIT +13%/+9% vs ARCe/cons, PBT high double digit beat from low baseCash EBITDA -2%/-1%vs ARCe/cons, -22% y-o-y and -5% excl. discontinued opsPlans to issue EUR 100-150m in new bonds and cover the remainder of 2026 maturity with RCF and cashSupportive report in our view
