The group released a strong set of results for H1 22 These were supported by volumes, but most of all prices The latter should be less favorably oriented in H2 The group marginally increased its FY EBITDA target (from €1.5bn to €1.6bn) We will fine-tune our numbers, with no big changes expected Our TP may look optimistic given the less favorable momentum on commos writ large, even if we feel comfortable with our recommendation