The first quarter should confirm recovering demand in the company's core U.S. market, complemented by solid numbers for Canada, Europe and the Czech Republic. We also expect growth in Asia. We expect Colt's EBITDA to be CZK558m (-18.3% yoy) on revenues of CZK3.6bn (+20.3% yoy). We expect management to confirm full-year guidance. We also expect to hear about the performance of Sellier&Bellot, which Colt expects to consolidate in the second half of the year following approval of the acquisition.