Im not sure, some industries, those that target physical assets such as FM, Renewables, Power, etc have shown resilience to their sales but have seen an impact to there GP and therefor EBIT/EBITDA. This is due to the fact that covid subsidies have ben employed for their people in some geographies which hits their SG&A after cost of good sold. this, in my opinion should be stripped out as a one-off cost, although some businesses have been impacted for over a year now.
