Compared to last year the top line was 33% higher yoy on an adjusted basis (13% higher on headline figures) coming in at EUR 9.4mn, on the noted increased activity in the market. Operating expenses were down yoy by 12%. 

This brought the group΄s EBITDA for Q3΄14 at EUR 4.7mn, which stands more than double than the estimated recurring EBITDA of last year’s Q3. In addition, the operation’s EBITDA margin stood at 50%, while the respective margin last year stood at 27% off recurring revenue. Finally, the group΄s cash position stood at EUR 160mn, posting a decline qoq  given the EUR  13mn capital return payout.