Antolin - comment

The financials were very much on target in Q4, but they were already guided and won’t be the focus of today’s call. The presentation includes only a € 12.5 m divestment program for 2025, which is too little to keep the company afloat unless it prolongs its RCF, which should seek to receive super sr. status in return at a time where the company will be running into covenant breaches a year before maturity. The documents are relatively tight and we are looking forward to seeing how this would be implemented. The call is at 2.30 BST this afternoon.