If I rember well, the NAZ listing is one point which isn't mentioned in the SH letter.
However, it's not easy to estimate or calculate expected figures as we saw many events in the past which highly expected to be positive turned out into negative ones. Just the last Q-report with figures which fit in was disturbed by unexpected high costs. The worse thing hear arn't the cost itself rather not to know where they are comming from. At the end, the hundred times discussed intransparency is the weaken point....
Best wishes
S402005