A solid Q1 for A1 with revenues up by 0.8% yoy but which include a 2% negative FX effect from Belarus. Excluding FX, EBITDA rose by quite a solid and impressive 8.5% yoy. Note that there is no real catching-up effect compared to 2020 as one year ago Q1 EBITDA was flat yoy. We remain at Strong Buy on the stock.