Investors House reported Q3 revenues of EUR 1.4m, in line with our EUR 1.4m estimate. NOI was EUR 0.8m, up from EUR 0.6m y/y and also in line with our estimate of EUR 0.6m. Adjusted group EBIT was EUR 0.6m, versus our EUR 0.6m estimate. The Real Estate division’s EBIT was EUR 0.6m, versus our EUR 0.7m estimate. Services segment’s EBIT improved clearly y/y from EUR 0.0m to EUR 0.2m (our estimate: EUR 0.1m), which is a clear positive as the segment has continued to improve after a period of declining profitability. The guidance for 2026 is unchanged for earnings to decline due to significant divestments in 2025. The company expects earnings to improve in the last quarter of 2026. The company is actively seeking new acquisition targets and has initiated several discussions. We expect a neutral share price reaction on the Q3 results.