Solid results at higher costs Hold: 1H16 results met expectations Weak 1H16 results; slightly better-than-expected loss "E" should stand for Excitement Buy: Focus on proceeds use from insurance disposal 2Q new orders accelerating, solid growth will continue; maintaining Buy Buy: Confident tone about beating sales target First ever loss driven by impairment, good job on cost control Strong 1H16 results; Buy 1H16 core earnings beat