The macroeconomic situation remains tense. In our national markets of Germany and France, in particular, we are still seeing a certain deal of restraint from our SME customers. On the other hand, we are also seeing an upturn in business with our public sector customers and an increasing demand in our trading business. This can also be seen in the figures for the third quarter. Thanks to a strong September, Bechtle was able to significantly increase growth. This positive trend continued in October based on the preliminary figures and reinforces our expectations for the fourth quarter. In terms of business volume and revenue, we are in line with our expectations after the third quarter. To achieve our EBT targets for the year as a whole, EBT growth of just under 25 per cent is required in the fourth quarter. Although this is ambitious, the Executive Board believes it is quite achievable. We are therefore confirming our forecast for 2025 as a whole.
