Could you clarify a bit @Antti_Siltanen why you adjusted that “increase in inventories of finished goods” out of EBITDA? Doesn’t that mean the materials and working hours used to build the inventory are just booked as expenses, while the finished goods are not taken into account at all? Last year the corresponding line was negative, but it wasn’t adjusted.
And what are those products made for inventory in Modulight’s case, anyway? Are they finished components/devices that can be used for future orders, but aren’t allocated to any specific order yet?
Or is it just a mistake that you have recorded the quarter’s EBITDA as €0.6m instead of the reported €1m?
EDIT: It seems to be a mistake, as there is no mention of an adjustment in the report.