Deleveraging delivered, bolt-ons fuel the UK; Chg.

H1 slightly below expectations: sales € 65.3m (+1.6% yoy), EBITDA € 3.4m vs € 5.5m, but net debt down to € 123.5m from € 180.1m. FY26 guidance of ≥ € 22m confirmed. Reiterate BUY, PT € 2.80.