Antolin - comment

The company announced Q4 and FY 2023 results this morning. While the results were pre-announced a couple of weeks ago and were in line with expectations, the only new facts to emerge were that the company would be exploring a refinancing in the next couple of quarters and they have given a target for divestments of EUR 150 million from non-core asset sales and sale & leasebacks of real estate in 2024 - 2025 which was higher than the market was expecting. They also guided to an improvement in run-rate EBITDA margin to 9% in 2024 from 8.1% in 2023. There is a call today in the afternoon where we hope to get more colour.