Everyone, welcome to the Greenyard full year results webcast. As you may know, our web presentation may contain forward-looking statements reflecting management's current views, and uncertainties and other risks may cause the actual results to differ from future results. We are, of course, providing the information herein as of this date. We do not undertake any obligation to update in light of new information, events, or otherwise. We also disclaim any liabilities for statements from third parties do not undertake to correct such things. On the agenda for today is a discussion on the operational and financial highlights, after which we will go into an open Q&A. My name is Dennis Duinslaeger, I'm the Investor Relations Director. Joining me in today's call are Mr. Hein Deprez, founder and co-CEO, Mr. Marc Zwaaneveld, co-CEO of the group, and Mr. Geert Peeters, CFO. With that, I would like to hand over the call to Mr. Hein Deprez for his opening remarks. Thank you, Dennis Duinslaeger. As a start, I'd like to mention that we can present on the positive results of the last year, despite the tough macroeconomic context. We had an increase of 8% of our sales, net sales, to more than EUR 4.6 billion. We increased with 0.5% our EBITDA. The volumes that we did are flat over the last year. Marc will explain more about that later on. Our net profit reached EUR 9.3 million. We decreased our leverage from 2.4 x - 2.2 x EBITDA. What important is that the reason that we could further develop good results are mainly our ICR model that we implemented, the integrated customer relations, the partnerships with the retailers that we continue to build out. Also, on convenience products, we continue to develop further, and we created also a lot of efficiencies further in our organization. Implementing our strategy 2030 is going on and continues on trend with vision on the future of food. What means that further? That's like we explained already several times, and what Marc will go deeper into it, improve our current situation. We increase, for example, with convenience and the ICR models, and then imagine what we can develop further with a lot of new things that we have in our minds. We continue to invest in our future with innovation of new products. A small acquisition that we did, the Gigi Gelato, is a great example of that, of a pure-plant ice product that we brought into the market and that via our organization can go fast, into retailers all over Europe. Also sustainability is a very important topic in our operation, and we continue to develop that further. We published our roadmap also in our annual report, and our performance is on track. Marc, up to you for the further explanations. Yes, thank you, Hein, and good afternoon, everybody. Before I step into the details, I would like to remind you on our strategy, 2030. Maybe you can remember that we talked about improving our business, increasing our business, and to imagine where we are going to. If I look where we stand today on improving, I tell you that we gained another efficiency results in the last fiscal year, and it was, of course, very important during an unprecedented time of macroeconomic and geopolitical turmoil. Having said that, as Hein also mentioned about our ICR, we saw again that our model was very firm and robust in the difficult environment. On top of that, we announced yesterday that we had closed another ICR cooperation with Dohle/ HIT, which is important. It's a very nice and a very interesting supermarket chain, with more than average at the high side of the quality, and also, let's say, in a very important regional presence. Good news also is that we expect another one or two ICRs to be contracted in the course of this fiscal year coming up. What we also have seen is that, as Hein said, we are focusing a lot on sustainability, and sustainability is at the core of our organization, because by definition, our products, our fruit and veg, are sustainable products. On top of that, we are working very hard on making the whole supply chain better, and for that we have, as you know, set our targets going forward. This year, we were audited. We got the remark of auditor that we were one of the example companies, they have now been auditing. Also our ESG ratings have further gone up in the last fiscal year. We are right on the right track on, let's say, the improve side. If you look at the increase of our company, on one hand, we have the convenience products, and we have already put a lot of new products in the market, and also we are currently working hard in doing even more on that. That is one of the key focus areas we are working on this. Also, on increase is M&A. You might have seen also in the press today, and then also press release, that we believe that the market trends which are out there, give a lot of opportunity to further leverage on the way we have organized our way of working. Of the core of that is our ICR model. It is the long-term, deep integrated cooperation with our customers. By doing that, you see that this is successful in these difficult times. By doing so, you also see that this climate change, with more transparency in the market, with availability of products, more efficient products, a good price to your consumers, to your growers, we think that the consolidation of our sector is upcoming. There is a need, but also a very good opportunity to further work on all these positive elements by a consolidation. The consolidation can be done, for one example, on a regional basis, you can do it on a product basis to secure the future trends. You see that a lot of supermarkets are going more and more on a pan-European scale. We are, because of our footprint, we can follow and we can add the volume they are looking for. Also, if you have further corporations with other companies, in whatever form, you can also ensure the availability, as we are already doing, by the way, because you see that, even in the latest climate situation, because of our long-term cooperation with deep way of working together, we can ensure that the shelves are filled with fresh and the frozen and the prepared products as we are. That is something I believe we are really going forward with that. We want to play an active role in that. Then last but not least, on the strategy 2030 is about innovation going forward. We have very good innovation process in place. We are working with certain very interesting startups. As Hein said, we announced the Gigi acquisition, which is, let's say, in the early stage. We are also working on very interesting innovations with respect to, for example, the plant-based kind of products, in which you can increase the number of moments consumers will eat our products, and we are going to launch certain of those products in the upcoming time. Stepping into also last year. I told you, there were very difficult times, if you look in our society. Because of the crisis about consumption issues, the people did not have too much to spend. You saw that the per capital consumption on the fresh products in Europe, in the sector, decreased by almost 10%. That is huge. The good news was that because of our model, the way we are organized in the Fresh division, we did not decrease by almost 10%. We only decreased by less than 2%. The good news is that on one hand, this is then implementing that you, indicating, sorry, that you are winning market share compared to your competitors. That is good news, and that is, for us, a very trustful way forward. Second to that is, that we are a company who is not only delivering fresh produce, but also the non-fresh, like the frozen and the prepared products. What you saw is, and that is because people have to spend less on food, they can shift by downsizing to the little bit cheaper products, which still to be bought from our company. Because they have increased by 4.5%, you see that we were almost flat in volumes by last year. That, of course, shows our robust way of our organization. Also, it gives a much better stepping point at the moment, the consumer is coming back and eat more fresh fruit and fresh vegetables. That trend will come back, and then we believe that we will benefit more than our competition as we have increased our market share, and we believe we can benefit in the coming time. I think that is very important, that we have shown robustness in our way of working. If you then look, talking about the integrated customer relationships, it is so important because even with the extreme situation we were out there, we managed with our customers to also keep the market shares of our customers to a high level. We also gave further possibilities to optimize the whole supply chain. There are more and more companies out there who are interested in our way of working, and that is also why we have settled the contract as we have announced yesterday, and we have good faith that one or two more will be followed in this year. Also from an efficiency and inflation point of view, on efficiency, you know that we in the last years, have an ongoing focus on efficiency. We have managed out, quite an impressive amount further by optimizing transport, logistics, whatever efficiency you can, productivity, you can imagine that. Also on inflation, we were very clear and transparent from day one. We have told our clients this very open and controllable information, what the effect of the inflation was on their products. That is, I think, also the way, the reason why we were able to pass through the inflation, which were fair and honest. I think, it also shows that our customers understood that we are with them for the long term. Having said that, if you look now for the market trends going forward, there are a lot of market trends. Think about a lot of regulation going forward. The way we have to put in our sustainability and our social responsibility up to our growers, wherever in the world, is a huge task. You have the growing health consciousness. We have the climate change and extreme weather conditions, we have geopolitics and those kinds of things. The whole technology, digitalization, there are market trends, which we say, "Okay, how can we be an answer to our customers?" First, we have under the leadership of Hein, we have invested in the past in a broad footprint. We, we have a certain skill, and we, of course, are looking, what I told you before, to further look on that in the type of cooperation with other companies. We also want to play that role, and we believe that it is possible. It is without doubt, that there will be a change in those trends. The, the trend of less CO2, the trend of better health, the, the necessity of availability of our products, but also at a price level, which is doable for our end consumers, means a certain consolidation coming up, and we can play that role, and we believe that it will be done. Hence, we offer, Hein, to your a little bit explanation of the Gigi acquisition. Thank you, Marc. Gigi, our pure-plant ice, as a new, as an innovation, is something we are very happy with it because it's one of the possibilities to increase consumption of fruits and vegetables by creating products, convenience products, where you can consume fruit and veg, at different moments than the classic consumption moments that you can have with these products. Gigi Gelato, a product where perhaps consumers can feel them guilt-free, when they consume it, and it is a product 100% powered by nature. It's not an ice cream, it's pure-plant ice with fruit and with vegetables, but with a creamy taste. It is. The taste is fantastic, the texture is fantastic, and we are introducing it now to different customers. For example, we will roll out all the different products that we have in this range from the 10th of July, for example, with Delhaize in Belgium, nationwide. Step by step, it will be ramped up with different retailers over the next months and years. Next to this product, we developed also a lot of other new things, and one of the big examples is our meal kits. We produced last year, to give you once an example, more than 20 million units from this meal kits, and something which is built up over the last 3-5 years. These are big examples from in which direction certain products will develop in the future. Also very important is for us, like already indicated, is sustainability. We have a clear roadmap with defined targets, 5 important points are there on our agenda. First of all, the climate change. What can we do as a company to help to reduce climate change? We put very strict targets for ourselves. We have a reduction of 70% in Scope one and Scope two, CO2 emissions in our direct controlled operations. In the Scope three, we are also committed to the rules for our suppliers by 2026. There we started already. We have already there a reduction versus our baseline, more than 10% suppliers already science-based targets implemented, and a larger group they are actively working on that. We organize trainings and info sessions for our suppliers to come to this reduction of CO2. Food waste is also something which is, for us, is very important. The system and the concepts that we are introducing, like ICR, close partnership with retailers, listening to what consumers are needing in the market, and in function of that, developing products, is already bringing the food waste massively down. That lower percentage that we have today, we try to find further solutions for that. To, for example, to valorize all this residual streams and byproduct flows of our food production by 2025. To give you an example, we have more than 190,000 tons of product that is not directly going in our classic, in our classic chains for our customers, but that we are reusing for animal feed or for bioenergy. 58% of this flow is now reused, and we are increasing that year after year to bring that to a point that we have a full recycling process and that we reuse all what we produce or all what we source all over the world into valuable products. Water management is the third point, which is for us a very important issue. We work on our own distribution platforms and factories, like in our Long Fresh factories, where we try to reduce at a maximum our water intensity. We work also together with our growers to see in the future, which areas in the world are the right areas to have a sustainable production. We check and control our growers on that, and we see if we can come to a point together with these growers to sustainable water sources for sustainable production in the future. The water risk assessment is for 85% of this moment covered with our growers, and we like to bring that to 100% as fast as possible. Packaging, also something very important. What important is to mention is that packaging sometimes is also reducing waste. It is sometimes we have fantastic results in having a lower shelf life for our products by using the right packaging. But we continue also to work on packaging, which is 100% recyclable. That will be done by 2025. Further, when it is not necessary to have packaging or certain packaging's or certain plastics, we take them out of our product offering for the future. At the end, the fifth important point is responsible sourcing. We go for 100% certification for our growers in the high and medium risk origins by 2025 on level of social compliance, ethical behavior, and so on, which is for us really important that we can go with products where consumers are happy with and comfortable with, that these products are produced, sourced, and coming into the supply chain in a correct way. A few examples how sustainability is part of our everyday operations. First of all, in finance, we have since last year the new sustainability-linked loan, and we achieved our four KPIs that we had to fill in, with the direct results that we reduce also our margins on these loans, with a small%. It is a small%, but it's really important to have this in place and to prove to everybody around us, to all our stakeholders, that we are really working hard on that and that we achieve our KPIs. In logistics, uh, we started, uh, with our first e-trucks, and we are doing that on, um, on roads where we have, uh, um, distance and timing under control, but step by step, we see what opportunities in it to bring this type of trucks into our system and also, uh, to help us in our CO₂ footprint for the next years. We rolled out also a supplier code, uh, conduct- code of conduct, was rolled out, um, over the last years, step- by- step, where we, um, are focusing on responsibility, prevention, compliance, uh, obligations, uh, protecting environment, uh, safety in our factories and in the whole chain, and all sorts of guidelines and regulations that we have to follow from, uh, governments and authorities. In the operations, um, water projects, uh, are very important for us. Like I explained, we have in our factories several projects going on to purify water on site and to reduce this water in a constant way. We have corporations with Pidpa, for example, here in Flanders, which is one of the important water distributors, where we are working out in cooperation, important investment programs to have this water under control, this water use under control. On level of the products, like already mentioned, with certain examples, we go to pure-plant healthy product assortment. pure-plant, the power of pure-plant, not only important for our health, but in the future, more and more, I think consumers understand also that in our food habits, in our food diets that we have, we need to go to pure-plant. To have a possibility to save our world for the future and to keep climate change under control. It is the only way to obtain that, and with pure-plant food, which is possible to have that with more and more products, with healthy products, with tasty products, we can reach that, and we are really in the center of the possibilities for the future. Waste, as an example there, what we are doing, we invested in in the last year in an important in a citrus line here in the Benelux. You can say, there is no production of citrus here, but we bring products as close as possible to consumers at a certain moment, and we try to pack, to sort, to control quality just before we deliver to our consumers. We, and by doing that with high-tech operations, we can gather a lot of information, a lot of data on quality, on performance of growers, so we can select better and better for the future, the right partners, the right growers, the sustainable growers, so that we can have a better product for our consumer. A product which is, which will become cheaper because it is better, with higher yields, better quality. Despite the fact that we will remunerate growers a better price, we will have a cheaper product in the store. That's a very interesting paradox, that, if we can increase the pack outs of production of growers by having a lot better yield in the field, but also a lot more product, which is really adapted to the needs of the consumers, at the end, the kilo price will go down and will become more attractive and more sustainable for the future. This as a few examples from what we are doing, and we have been working on, up to now, and which will continue for the next, years. Okay. Thanks a lot, Hein. We're going to dig a little bit deeper in the figures now. Of course, you all know our key figures already a couple of weeks because of our press release. We just have reconfirmed them today with a lot more detail. If you look first at our sales figures, you know, it was already mentioned by Marc and Hein, we have a like-for-like sales increase of 7.9%. We're talking big numbers, because if you take it in absolute numbers, it's more than EUR 350 million. We're talking big amounts. Of course, this year is all in the sign of economic uncertainty and inflation. That means one of the main drivers is, of course, the prices. We come back to that later on. Out of the 7.9%, 8.5% was price increase. That means that there's a little small decrease of volumes left. As Marc already explained, we're especially proud as Greenyard in a market where the average consumption declines, based on the market studies of -10%, that the decline was really limited thanks to our ICR and thanks also to volume growth we have in Long Fresh. If you then take your, our EBITDA, we had a slight increase of 0.5%. If you take this in percentage margin, we go from 3.8% - 3.6%. Of course, in a market where prices are increasing every month, I'm referring here to the input prices, we charge through those prices, but there's, of course, always a delay because it was going so fast. We are also very transparent to our retailers. We charge absolute numbers. That means that, temporarily, we have a decline in margin percentage. You will see later on in our ambition that we believe in the coming years to grow back to 4%, or direction 4%. Leverage, we continue to deleverage. We're doing that already a couple of years now. We mentioned clearly that we wanted to end between 2 and 2.5, so we're now at 2.2, even at the low end. And, uh, that comes a lo- with a lot of advantages, of course, uh, it —Increasing, uh, uh, interest rates, uh, we have a leverage grid in our, um, in our margins, uh, with the bank, so that means also it's, uh, bringing down, uh, the margins, uh, which is, uh, very important in these times. Net results, uh, we have, um, a, a decline from sixteen point nine to, to just below ten million euro. We come back to that later on because it's mainly related to non-recurring impacts, uh, we have this year, and we don't expect, uh, to, uh, repeat in the coming years. More interesting to see is, uh, to look at the dynamics of, uh, both segments. You have Fresh and Long Fresh. It's probably already clear that we had some declining in EBITDA in Fresh, about a bit more than EUR 6 million, and we fully compensated it with an extra EUR 6 million in Long Fresh. In Fresh, there was clear, clearly a lot of pressure this year. First of all, you had the inflation. You all know that that inflation, you have all seen also the in press articles and results of retailers, that it's not easy to charge it through to the consumers for them. Also for us, we were able to charge through a big amount, but there's also some delay and it was not the full amount we were able to recharge. However, out of the 6.2% sales increase, we managed to do a price increase of 7.8%, which is still significant. Volumes minus 1.9, just to tell something about the dynamics of the market, the minus 10%. We already explained how important the ICR are, and we are still at 3/4 of our revenue. As we mentioned yesterday during the press release, we will add all the Dohle/ HITs in the future. So we will go above the 75% towards the future, and that makes us much more robust in volumes. Of course, volumes were difficult over the last year because of the purchasing power also of consumers. Mainly in the months of October, November, December, you see that consumers were very afraid of what was happening with the energy prices, were a little bit relented. I can tell you, over the last months, perhaps also related to salary increases, we see that volumes are improving again. Of course, we were also in the post-COVID period, Fresh was at quite some positive stimulus from COVID, because of the out-of-home consumption, which was not open, that reopened over the last year. On the other hand, we benefit in Long Fresh, that's the strength, of course, also of the business model of Greenyard. Important to know is also the term of downtrading. You see in times where consumers are more afraid, where there's pressure on purchase power, it means also people go more for private label. That's exactly, of course, what we do in Long Fresh. The other thing you see, they look for cheaper alternatives, and prepared and frozen are as healthy as fresh, but so much cheaper if you take it per piece of product that you consume. That means that volumes were positive in Long Fresh, exactly 4.5%, we had as an improvement. We did, of course, the price increases we needed to do to keep our company and also the value chain healthy, and that was around 12%. If we go to the net results, you know that EBITDA was slightly increasing. If we first go to the EBIT, then we have a decline of EUR 10 million. If you go in detail, of course, we have a slight increase of depreciation, because you know, we are gradually stepping up our CapEx program. You will see it later on in the cash flow. Last year, we also took the opportunity to further strengthen our Fresh organization. You see, in Fresh, there's clearly the trends of retail, but also the trends in the market, as Marc described, that you work closer over the different countries, and that means that we're continuing doing some adjustments. One of the most important we decided is that, is to go in Greenyard Fresh France to an asset light model, where we will continue serving the French market, but integrate the operational organization in the neighboring countries. And there we made a non-recurring correction, and that we're currently implementing in the coming months. We also announced in March last year to wind down the Greenyard Fresh UK operation. I repeat, that U.K. remains very important for us, but mainly in frozen. We're a market leader in frozen in U.K. In fresh, the wind down is almost completed, and of course, the costs related to it are also in our PNL, but are not coming back in the future. On cash flows, you can study that graph more in detail later on. I will just take some highlights. We did a nice deleveraging from EUR 303 million to EUR 277 million. Of course, the main drivers are the EBITDA minus CapEx and the taxes and interests we pay. Just to highlight first, we had some non-recurring items. It's related to the PNL, but the cash items are mentioned in this graph. We had about EUR 17 million which is not coming back, which were non-recurring. On the other hand, there were two big financing transactions over the last year, which brought some transaction costs, which are, of course, also one-off. First of all, the sale and leaseback with it in June on the operations in Bree. Very good operation because we could do it at a good yield with a fixed interest. We were automatically hedged on the interest also in that case, and we refinanced the company. As you know, we went from six to eleven banks with a package of EUR 420 million and very advantageous conditions. That was also in finance, an important event over the last year. Couple of things to mention still is the net working capital. If you study that one, you will see over the last two years, of course, we have increase of inventory. I can tell you this is hardly any volume increase because we manage the volume very strictly. We produce what's needed, of course, dependent on what the weather is bringing to us. We are very close on our inventories to be sure that we can deliver our customers for 12 months. Of course, there is an inflation impact on our inventories, and over the last year, it was EUR 37 million. On the other hand, you will see that the working capital improved and not deteriorated despite that stock. That's mainly about because of accounts payable and accounts receivable. We are further improving that there are several actions ongoing. For example, we continue talking to our retailers, definitely in long-term relations, it's something where what can bring a lot in accounts receivable, because we believe that long-term clients have to align their payment terms with what growers want to have. There's an Unfair Trading Practices regulation of 30 days, we stimulate them to pay quicker so that we also have less factoring. Our factoring increased with EUR 16 million, that's less than the inflation impact. Of course, a lot of other things we do to manage the working capital efficiently. On CapEx, just to highlight that one, last year, we did a CapEx of EUR 48 million in cash out, now it's EUR 56. To be honest, we want to do 65%-70%, in line with the Capital Markets Day, but of course, because of the volatility in the economy, uncertainty on the input material, to build new installations, there was some delay in delivering the projects that we approved. On interest, you see there is an increase of interest. Of course, what happens to us, it's the same as all companies. We have the EURIBOR below the floor of 0 in the periods before April, May. Luckily, we did quite some hedging. On average, it's about 75% of the factoring and the bank debt that we hedged so that we can mitigate that increase in interest costs. The next slide is just to show you the trends of the leverage. I think that I explained already before, and we see the pattern repeating from year on year, but we continue deleveraging. The last slide is just repeating our ambitions towards the future. It's also what you could read in the press release. We believe that this year, we go to EUR 4.9 billion of revenue. You see there's another big jump we will have. Of course, still an important part, price related, but we see also that volumes are recovering. We believe that margins might go direction 3.7%. Then two years later, we believe the guidance that we gave, and it's not a guidance, but an ambition, in the end. The ambition we gave during the Capital Markets Day, to go to EUR 200-EUR 210, that we believe we can make that by March 26th, and to have then an EBITDA margin close to 4%. I hand over to Marc. Thank you, Geert, coming to an end, I just want to briefly summarize our position today. I think that we managed well through a very complicated outside world. We improved on many aspects, financially and non-financially. We are working on very interesting and positive relationships with new customers, by the new ICRs, which we have closed, and we are going to close. Also, we are in the heart of the fundamental change to a plant way of living. I think the future looks bright, and it's up to you now to share any questions you might have. Here's this. Just before we start, can I just ask you, gentlemen, to also read out loud the question because the participants cannot see the questions? Okay. The first question that I see here is, does the economic context have an effect on the objective of external growth? I don't think so. I think the economic context for us is not pushing us back. The businesses where we invested in over the last year, maybe over the last years, in that new model to roll that out, that will create for us a continuous growth, internally, with existing customers, eventually, even with new customers, for the next years. The second question that I see is, we are focusing more on the Long Fresh segment, higher EBITDA margin in ME? Not especially. What important is this, Long Fresh has indeed a higher margin, but is also a lot more capital intensive. We have very big investments in factories. Don't forget, for example, in inventory. To give you all as an idea, I think we have an average EUR 350 million, up to more than EUR 400 million in inventory because of our Long Fresh operations. That is very capital intensive, they need also a higher margin to offset this. What important is this, when you look into convenience products, where we are focusing ourself? That means that, in a lot of this convenience products, we have possibilities in our Long Fresh division, in our frozen, and in our prepared. Automatically, we will see an attention into that direction to fill in the needs of consumers over the next years. The third question, in what segment are you expecting the most synergies when contemplating consolidation? In both sectors. What we will see more and more is that Fresh and Long Fresh, Long Fresh, frozen, prepared, is really linked to each other. That is something which is coming more and more clear for everybody around us. It was very difficult, more than 10 years, 15 years ago, when we started with that, to explain that to the people, where is the synergy between fresh and frozen, for example? Today, our customers, our retailers, they understand how clear this interaction. The interaction, the relation is at the consumer level. Consumers are looking to fruit and fresh as a food basket, not only fresh, but also frozen and prepared, canning. We saw that now this year with the buying power crunch and the downscaling of what consumers are buying, is that they go from expensive products to cheaper products. For example, in frozen and in canning, you can have per kilo, very interesting prices, cheap prices for a good quality product, with a lot of solutions, with a lot of possibilities. You see that we recuperated a part of the loss in volume of fresh in our Long Fresh division. That is really increasing in consumption on this moment. Last year it was like that, it continues in this year. We see a strong increase in volume there, and we succeeded to explain that more and more to our customers, retailers. I was very happy that one of our important customers, retailers, started over the last weeks in their promotion folders to put fresh, frozen, and prepared fruit and vegetables on the same page as one offering to the consumer. When I asked to that retailer, "What is the first reaction on that?" They were really very enthusiastic and had a good reaction in the market. Consumers are indeed picking it up and understand that as one portfolio of products, as one category management for the future, you have this both, these three segments that we have in our group to manage that together. That's a really important for all stakeholders around us and also investors to understand that this concept is the concept of the future, and it's creating already results today, and it will speed up these results. Important is to see, and certainly in fruit, is that fruit producers, they are not producing for the fresh market or for the industry market. It is the producers there, they have a product, they try to go maximum to the fresh market, but they have always qualities and sizes which are not acceptable for fresh market, which is going into what we call Long Fresh. There, we work also with our growers and concepts that we take, what we call the food tree, and with products that we are bringing into our Long Fresh divisions. We will see more and more examples of that in the next years, that we will develop further in Long Fresh, our convenience products, which is coming from products which are not suitable directly for fresh consumption. Okay, if you look at the next question, does current decline in energy prices give rise to opportunities for long-term matching? Of course, we follow that on a daily basis. I think that if you look at the price levels, and it's still relatively high, although it went down indeed, as you say. We also believe that it will not go back to the levels which were before the crisis. Of course, we have our opinion there, and we will be very keen on indeed, getting a certain hatching position there. Next question about a recently read about the test is Aldi Nord, was a commercial ICR agreement reached? We never give any disclosure about our clients. We also do not answer this one in particular. In general, we can say we are working with certain companies, and we expect one or two more ICR agreements to be reached in the course of this remaining fiscal year. The next one, to what extent did the conflict in Dohle have a material impact on your numbers? Again, I will not disclose anything about particular clients. I can say that the ICR model is in the way it is positioned, prevents us for any material impacts on our numbers. Next question is, unfortunately, the highly successful turnaround has not yet been reflected in a higher market capitalization. Do you see any catalysts towards a higher market capitalization? That's a very fair question, of course. What we see indeed, is that the consensus in the market is way above the current reflection in the stock market. There are, of course, always issues, you can talk about. We believe that we are very much looking in increasing the liquidity in our share. I think that is important, and we are working on that going forward, and I think that will help us going. To our levels of the share price. Second to that is that what we have told you in during the course of this meeting, is that we see a lot of positive effects on the RCR, on the trends of healthy food, on the innovations we are doing, and also on the whole consolidation. Consolidation is more than just takeovers, that is all kinds of partnerships, mergers, and whatsoever you can think about. We believe that, if you go everything together, we believe there are absolutely opportunities to reverse the current trend of keeping a little bit stable to low share price. Then, the question eight here, please, Geert, read it out? Forecasts on interests, CapEx, working capital, yeah, of course, we don't give forecasts at a detailed level. You ask guidance, we can, of course, look at the different drivers, and you find a lot of the drivers in our annual report. If you take the interest, you know what percentage we are hedged. We have the sale and leaseback here, that's fixed. We're currently continuing deleveraging, and that means we're at lower levels of our margin grids. I think you can pretty well make an estimation based on the interest curves, how it will evolve. I repeat what I said before, we still continue going for that EUR 65 million-EUR 70 million, except for, yeah, external growth or M&A, that would come. Of course, if there are big, nice new opportunities, we might deviate, but that's, I think the best guidance I can give. On a working capital, we will have this year, that's also what you read on food inflation. We will continue having inflation, of course, on our inventories. As I had mentioned, they're in at a top level, and top level that's for us in the months of October, November, there are more than EUR 400 million, so we're talking important amounts. So that will continue, that increase, but at the same time, we continue working also on improving accounts payable, receivable, so we believe we can probably partially compensate it. Then the year after, I think we can, hopefully assume, all of us that, everything stabilizes and that we're in our normal working capital evolution model again. All right. Thank you very much, Geert. I think that concludes the questions for today. We'll perhaps leave a pause for a few seconds to see if there are any last-minute questions, and then I would like to thank you for your participation. I think that concludes the question round. Thank you everyone for participating to the call. Thank you, Hein, Marc, Geert, for your explanations and details. If there are any further questions or any further remarks, please don't hesitate to reach out, and we'll be more than happy to respond. For now, we would like to thank you and wish you a good day. Thank you, moderator, and you can close the call. Thanks.