Momentum should continue in Q1 SAB will report Q1 on May 13th. Overall, we expect a solid print with supportive volume development. We model (ex-IAS) sales up HSD organically (cEUR74m) with EBITDA (ex-IAS) of EUR11.5m in the first quarter. We expect higher QoQ net debt due to seasonal factors (EUR78m). Demand recovery anticipated... We''ve assessed the health of appliance demand in the EU (50% of sales with Turkey), and the picture is reassuring. With appliance shipments c10% below the long-t ....