We see net debt at €21.3bn up €1bn vs. YE23 because of: a) cash burnt during the quarter (€450mn, in line with 1Q23); b) higher interest (+€150mn YoY); c) recent fine on VAS services (€100mn) although the payment will be made in multiple instalments; d) Seizure of funds related to the VAS fraud for €250mn. However, the latter funds were subsequently released in 2Q, resulting in a reversal of the same amount. New scope: ServCo EBITDA growth on track with company guidance. Given that the contract with OF in white zones pertains to NetCo, it doesn't impact ServCo trends under the new scope. Assuming seasonal volatility between quarters, Domestic ServCo should demonstrate a relatively stable top line (FY target: +2-3%), with a balanced mix (Enterprise +2.3%, Consumer +0.2%, Sparkle -4.9%).