Mr Green’s financial performance for the quarter was somewhat below our expectations, revenue came in at SEK 194.8 million (expected: SEK 210.8 million). However, the EBIT reported of SEK 25 million was largely in-line with our expectations (23.6 million). Overall, the performance was positively affected by lower than expected marketing costs, leading to a strong operating profit. The company is not burdened by a revenue ceiling within the existing markets, which continues to enable the possibility of the expected growth for the future. The Nordic segment reported a turnover which was somewhat below the previous quarter. Given the innovative preconditions of Mr Green, state of the market and competitors size the potential for Mr Green remains substantial in the long term. Mr Green appears to be an attractive takeover prospect within the next 1-3 years, in an industry likely to produce greater numbers of transactions, and the difference between price and underlying value remains substantial. The DCF model indicates a continued justified value of SEK 61 per share. The company is fundamentally converging to our bull-case scenario of SEK 118 per share.