Good afternoon, everyone. How's it going? Welcome to our earnings call for the Q&A on the results of our second quarter of 2023, also our transformation plan. Before we open up for Q&A, we'd like to recap on the material that we shared yesterday, our release and our presentation, as well as the video where we go over the main pillars of the transformation plan. Please, we can move on to the next slide. First of all, just wanna make it clear, the change in Via's positioning and what we are at Via. There's always a concern and some issues related to new generic platforms or marketplaces that are coming into the market, why this is not a concern to us. Well, Via is a company with a very clear asset, a unique positioning. We're really concentrated in our core. In our 1P, we have our core categories, which are furniture, refrigerators, freezers, screens, portable devices, and electro home appliances, et cetera. The tail is complementary to our customer categories, so it's very different than our generic platforms. B2C as an opportunity. We even have some contracts we've signed, and we're starting to provide this kind of service. Next. Quickly, we wanna discuss the shift in the strategy. Our first four years, from 2019 to 2022, ever since we had a shift in the company's control, were essential for the construction of this mega platform, the expansion of our stores, new sales channels, marketplace, construction, and even technology solutions. We are starting a new phase with a big focus on profitability, cash generation, and returns on invested capital. Please, you can move along. This means that the main indicators in the company that we would look at, like GMV, the gross margin, the EBITDA margin, et cetera, and the main indicators are the free cash flow, with a commitment to have a robust free cash flow with a good interest coverage. The main indicator to measure performance at the management and team is return on invested capital, the ROIC. We're gonna work on this to deliver good spread on the cost of capital. Having said that, the EBITDA and GMV are just a consequence and not predefined targets that are isolated, and they did not necessarily deliver a robust cash flow and return on invested capital that was that attractive to our investors. Moving on. Here, we're sharing a slide that we think is fundamental, which is a bit of the mindset shifts. We were looking at GMV and the gross margin, which included the variable expenses, and now we start including the direct expenses of each business and product that we sell, the cost of the stock, and the cost of funding to consumers. This changes the company's decisions, the governance, KPIs, and of course, it changes our targets and culture of the company. That was a new mentality that really unleashed what we have on our new slide, that made it possible for us to bring levers and initiatives with a level of maturity that's a little more robust and others we're still working on. We have over 100 initiatives in these 18 levers that go through our P&L and cash generation dimensions and capital structure. Bringing this slide, some non-exhaustive examples of these levers. We already brought this, and some examples here add up to BRL 900 million, for example, in the renegotiation of indirect expenses and lease contracts. It brings in about BRL 100 million. Other, and direct negotiations going on. We have a plan for BRL 1 billion of improvements in P&L and improvements in the LAIR. The shift in the culture and this process with clusterization, more granularity that releases BRL 1 billion in stock that will be used for our cash. It's fundamental to bring a new oxygen to the company and allocate value and use this cash for initiatives and business opportunities that have a really high tier in the company. Moving on. As we look into our capital structure, you've seen Elcio's presentation and video with everything we're doing, I want to recap the main points here. The deployment of FIDC as a model and a financial instrument for our Buy Now, Pay Later is a structural change. We're talking about half of the cash debt that's gonna be migrated to the capital market, releasing room in our balance sheet with the banks, for other purposes. In the long term, of course, we will probably have a cost reduction and especially more stability, unleashing our capacity to sell more of the Buy Now, Pay Later and increase penetration. There's a transformational shift from a business perspective and also from a balance sheet perception and from a vision perception in the credit areas in the banks, which is very relevant. We can move on. Besides this, we have other initiatives as we access more banks, other sources in the capital market, investment agencies, and a lot of things that are going to extend the duration of the debts. Initially, we don't expect to reduce the cost respect, but increase the duration. We are going to start working on liability management, consistently reducing the cost of capital and the spread as the company gains more strength and it becomes bigger. Move on. Besides this, the monetization issues were all accelerated. We already had this part with the tax credits expected, these BRL 2.5 billion that were recurring for 2023-2024. We brought some initiatives. The stock I've already mentioned previously, there's some real estate assets that we are operating to consider a sales back, actually, up to BRL 200 million. There's a sale of some subsidiaries that we have with fiscal credits that we can also sell. That's about BRL 4 billion in monetization of the assets that we can try to work on also in the short term. We can move on. I reached my last slide here, so we can get into Q&A, where we reinforce the attributes of the company and our assets that are our customers, the brands, our leadership in these categories, our unique positioning when it comes to logistics and commercial strength, and also the training of our team, our omnichannel approaches, and iconic final operator. All of these will unleash major potential. A lot of growth and value creation, but it won't be our focus in the first two years, because first we want to generate value, apply the cash into what we already have in-house, and it will bring quick return, right? Without a risk of execution. As we generate more value and we have leftover cash, we'll apply this into some opportunities. When we have the appropriate time, we'll present this, generating more value. This is a summarized agenda that we presented in more details on the video yesterday and it's also in our material. Now I'll pass the floor on to Gabriel to start with the Q&A session, and so we can get into more details that you guys consider to be important or maybe give you guys some more color on some points. Thank you all again for your presence. Gabriel? Thank you, Renato. Good afternoon, everyone. We're gonna start off with our questions and answers. The first question is from Victor Pini at Safra. Please, Victor. Thank you, Gabriel. Good afternoon, Renato, and everyone. I think I wanted to talk about this new plan. I think that by what we saw yesterday, that you guys published and a little more details now, what I really liked is that it's relatively simple. It seems simple. It's not easy, but we have clear levers, and they're all quantified. I think the main point here now is how you're gonna have the execution at the end of the day. It's gonna be made by people. I wanted you to talk about this and give us some more information on how you've aligned your incentives here at the top management level, but also the guys at the commercial operations that had sales targets, that maybe that would maybe they would harm the working capital in the long term or even the negotiation with suppliers. I wanted to understand how, at the short and long term, you have this alignment with incentives so that the plan can be well delivered. Thank you, Victor, for that question. We really have this transformation, incentives, and targets in the company. When we look at the entire commercial team and stores, the main indicators were GMV and gross margins, and we changed this, and we create margins one, two, three, and four. Now you have a net margin that incorporates the working capital. Stock, when stock to the category, kind of impacts the target, and the same thing applies when you have stock that's closed and went to the store. The shift in the KPI helps to change the culture when we talk about the short-term target. When we talk about long-term targets, we're incorporating the ROIC and the TSR. Of course, the program is still being reviewed, and we're looking into all of the long-term compensation for the senior management team. So we have triggers that are compatible with the returns for all the stakeholders. That's why TSR and ROIC as triggers, but we're still designing and balancing out this proposal so that we can submit this to the board and approve it, transforming it into the long-term plan for the company. A last question here. I don't know if you could maybe give us some more details about the timing for the deployment or capturing of these gains that you guys described. That's the last question. Thanks. Great, Victor. Two initiatives had the timing, and we tried to illustrate this well in those little balls with how advanced these are. The examples that are not complete, of course, they're all basically having decisions made. The impact depends on the initiative. When you look at the personal, you have write-offs in July and August, and you start the saving in September. When you look at the stock, of course, it's gonna be this stock, and then whatever's left over in the fourth quarter, in November, Black Friday will finish. We're gonna hope that by December, we can already capture the full benefits, except for the FIDC. As soon as they're launching that, we'll start capturing this, and then we have the capacity to have under BRL 700 million per month, and this migration is gonna take about a year to have full migration for the moment when we start doing it. We'll see no full benefit by the end of 2024. Some will start noticing in the beginning of 2024 when we do P&Ls. Other levers will start having more disclosure up ahead. That will impact us a little more up ahead because they take longer, and they have more complexity. We brought what's really low risk of execution and allow us to commit to them without a risk on January performance, and the rest will be more left to the second semester of 2024. That's why we consider the plan till 2025, so we can have this ramp-up of 2024 and delivering and fixing the company, and then by 2024, we will start this new cycle. Thank you very much. Thank you, Victor. Our next question is from Pedro, Bradesco. Pedro, you may proceed. Thank you, Gabriel. Hi, Renato and team. I'm gonna add two quick questions here. The first one is about suppliers. How have they been reacting to this new plan? Because kind of considered a bit of a downsize. Maybe you guys were negotiating terms, this negotiation kind of following the same track. I wanna understand this a bit. Also another question is about the gross margin. Maybe it's a little bit early to try to establish the expectation, but here we have some indications that are very important of a shift in the 1P, 3P, final ventilators and categories. Do you guys think that you can already have an idea of what will be a reasonable level for this gross margin from now onwards? Well, thanks for the question. First, about suppliers, there's a good side, which is we're so relevant to our supplier chain, that everyone is very has a strong buy-in to whatever is gonna strengthen the company. We have a lot of support normally, from a manager's perspective, and our conversations with partners are really good. Of course, this is not gonna match the short-term demand. Everyone wants to sell more, and we're trying to bring more discipline to this and being more selective and careful. They're trying to find ways to make it feasible because we have to deliver this return on invested capital, but we want to also have profitability in our operations. It's important to say that our core product line that really engaged the company, here we don't have much of a reduction. The reduction we have is normally on tail and other categories that are not core, and that we're in some way destroying value. When we take core products, we see opportunities. Now we're being a little more selective on the SKUs and families, because some give us more returns than others. We have a more optimized stock. When you ask about the question... Sorry, what was the question? Oh, the gross margin. Yeah. The gross margin will have is impacted, and now in the third quarter, it's gonna be more impacted because it is. That one is long term. We see opportunities to have this just as the past or a little bit higher, with an incremental improvement in the gross margin. Of course, not counting on shifts in the market. We believe that the market is going to improve at certain point in time, but, you know, some categories kind of push the category upwards, so like just furniture, et cetera. This will help the gross margin get better. Without considering this, we would consider the gross margin similar to what we had in the past year, with some possible incremental improvements due to this pricing and mixed reviews. It's not going to be the main driver, because the gross margin is just 1 more way for this, and it's not necessarily what's going to guarantee the profitability in the last line. Sometimes it's better to have a smaller gross margin in an item that will deliver a lot of returns in the last line because there's low capital investment than the opposite. This stock turnover is really important, and the EBIT or LAIR margin would be a lot better and easier to see the evolution of the company's profitability. Thank you, Renato. Very clear. Thank you, Pedro. Now we're gonna talk about a question from Felipe from Citibank, please. Hey, good afternoon, everyone. Renato, Renato, and everyone. Here on, we wanna understand a bit more, because you talked about what is the plan and chapters over quarters, so now plus EBITDA margin. Do you think we can imagine or have been looking at a double-digit for next year, maybe? Second point would be, you also highlighted the share gain in the core items, which is a strong point for Via. Considering this vision in the market awareness, what are you guys thinking about in regards to the Black Friday second semester? Do you guys think you're gonna invest in stock more in the third quarter? This is something we wanted to understand more about, regards to this, core. Well, thank you, Felipe, for the question. When we start off with the second one, we look at core and Black Friday, there is seasonality. We do hope to have a semester that's stronger, but we still have recovery in the market. It should be similar, but there's still a seasonality in the quarter, and that helps a lot. We have some marketing initiatives, and we're using this new technology, and we do hope to have a lot of share points, because, of course, this will help with our sales a bit. We understand that there's a market to do a lot about this. We're gonna bet on the core. We're gonna have growing stock, and then in the third quarter, we have to compare and see how we're gonna use this because there is seasonality that you buy to have Black Friday. This is gonna be considered. When we talk about the EBITDA margin, we're not giving you a guidance. We're just saying that the company's target is not EBITDA. How much do you need to have a healthy free cash flow? We look at the initiatives of the P&L. If you look at this on a, and the ROIC above the cost of capital, there's an increment, and it's going to be delivered in the EBITDA margin, and it's gonna be to reach this point where it's close to what you mentioned. We understand we're close to that. We're just not providing a guidance from an EBITDA margin perspective. There is an improvement to be delivered, and that's what we're working on. It is significant. Okay, thank you. Very clear. Thank you, Felipe. Our next question is from Danni Eiger from XP. Hi, guys. Good afternoon. Thanks for my question. My question is really related to the competitive scenario. Now, you guys have this strategy on focusing on core categories. Maybe you'll leave this more competitive market, generalist marketplace. Even in these categories, there's a bit of competition, right? From some players that are omni or a little more physical. We think some players also adjusting this discussion to categories that have been higher to average ticket. It's important to look at the view of the competitive scenario and what you guys consider to be the main differential at Via. The second question is about the main risks that you've mapped out for the execution of this plan. What you guys got, I think, is really cool because you have a lot of transparency, and it's really clear to understand the levers, and they seem relatively simple when it comes to deployment. Relatively, right? Because nothing is totally simple, but there doesn't seem to be such an execution risk. What have you guys focused on more, and what should we focus on more towards this plan? Thank you. Danni, thank you so much for the questions. First of all, on competition, we really have been trying to have the market with a more rational competition, and we've seen the major players of this trend. If you look at the month of July, we've already tried to find ways to tighten up a bit of the payment methods. If you reduce the installments, free of interest, you really change profitability, and that's a huge lever. Where else can we have, maybe where we could see a little more competition? When you have regional small players that are on the point, front of the field due to cash needs, end of the month, sometimes they have more aggressive professional sales that are a little, more irrational. We're not getting involved in this struggle because we think Via has competitive advantages that have been strong. Our brand is a destination, but an important lever is the Buy Now, Pay Later. When we look at the Buy Now, Pay Later, we have good conversion at online. It's a market with more competition, where it's an issue of being fixed with unique pricing, in payments and installments, free of interest or different price, options, et cetera, which really helps the last line profitability. We're seeing that the market is a little more rational, no doubt the industry is pressured because there's a lot of volumes, so people need to adjust production, but there's not time to adjust, et cetera. Eventually, we'll see different conditions, and when things get tight, this kind of brings in concentration of the special sales on our channel, which allows us to have prices that are very aggressive, but they also generate good margins and good value. This is how we're looking at it. We haven't seen a big change in demand or overall scenarios. This is gonna help the market be more rational about the risk of execution. As you mentioned, we wanted to show and take on as a commitment here that we'll have some simpler initiatives. We have a lot of operational work and execution. There's nothing that's too complex. It's really back to the basics and delivering what we know how to do. There's some other levers that are a little more strategic, that have more complexity, so we're not considering the bandwidth of those because they involve external factors and negotiations that are more complex. Then, we need to attract the right partners to make those feasible and monetize some other strategic assets. These things, we're gonna We just consider what we believe has a low execution risk, have under promise and over delivery. As we mature these levers, we'll have a more controlled risk and disclose this to the market, so that we can create this with a lot of consistency. After a few quarters, we would really bring credibility, and then we'll be able to get into this new cycle with a lot of support from the market for everything that we have to do. That's a bit of our agenda. Thank you so much. Excellent. Good luck with the execution. Here also just I wanna highlight that this plan was built, and we discussed this in the video, that it depends on our management and our action plan. It doesn't depend on an improvement of external scenarios to be able to execute and have the company financially sustainable and stable in the reality that we expect to achieve. It just depends on our management. It doesn't depend so much on external scenarios. Thank you, Danni. Our next question is from Nicolas, from JP Morgan. Nicolas? Thank you guys for taking my question. I wanna talk about the CDCI, which is one of the competitive levers in the company that now should operate under, the FIDC. How do you look at the penetration of this product up ahead? It already represents about 25% of the store, a little less online. How do you consider this product would be able to reach when it comes to penetration? Thank you, Nicolas. CDCI really has many opportunities. Having the Buy Now, Pay Later, we'll use the funding from the FIDC. In the history, when we had a bank limit exceeding this, we had 30%-31% at the store. We understand that at least to recover the 30% or 31% is what we should do. The second quarter was really impacted by the drop in this limit, and it's kind of a little bit below this percentage you mentioned. Plus the 22, it's really impacting the profitability, but recovery to the 30% really brings in those BRL 250 million we had in the last line, which is the first line of that summary that we mentioned of initiatives in the P&L. We have initiatives to increase a bit of our penetration in the stores and online. We are not placing this limit yet because these initiatives are not mature yet to be able to take on this commitment for penetration above this level. Today, what we're considering is resuming historical levels and keeping online at a very conservative level. We think we need to have an improvement in the market to have higher penetration without having credit risks. Today, we currently prefer to be more conservative, so we don't have risks in the execution. That's pretty much it, getting back to the 30%. Well, thank you. Thank you, very clear. Thank you, Nicolas, for the question. Now I'm going to call Felipe from Goldman, please. Thank you, Gabriel. Thank you, Renato. I, first of all, had a quick follow-up on Nicolas' question. In regards to the Buy Now, Pay Later, besides structuring the FIDCs and understanding that the market dynamics when it comes to call, it's not the most favorable. I want to understand what other measures besides the structuring of the FIDC will be implemented so we can get back to scale up on the Buy Now, Pay Later. As I mentioned, and you guys have always said, this is a very important lever for the profitability and for sale in the company. If I could submit another question that's not related within the transformation plan, I understand that there's some categories that are gonna go from 1P to 3P. I wanna understand from a marketplace scenario, From the technological perspective, the onboarding of the sellers and everything is pretty general consensus, and it works well. I want to understand it from the competition perspective, have the sellers been kept on the platform? What's the churn of these sellers? If you could give us some more color on that. Thanks. Perfect. Thank you, Felipe. About the Buy Now, Pay Later, to get back to the 30, it's a lot more about pricing, and then we'll reach 30% about increasing. We have some levers. First, we talk about the UX, right? From the customer and the seller, that affects this. We're getting into. This month, for example, we began the App 2.0 for the stores, and that really changes the customer service journey, facilitating the sale of the Buy Now, Pay Later, and also the offering of additional services. This is already in certain stores, we improved conversion rate, and we're rolling it out to all of the stores for the end of the month. That's one of the initiatives. On the website, you have the revision of the customer journey, so we have some deliverables to push up to production. Every two months, we'll have this so we can change customer journeys and really favor the hiring of these additional services. Of course, when we have funding that's a little more mature and we can bring in these additional offerings for funding, this will allow us to price things differently. A lot of what we do today, considering supplement, have like a tier that's above 30%. Eventually, you can see that you have a, a tier that's a little bit more volume. We're always going to maximize the bottom line. This is a lot of room. I'm just giving you some examples. There's a team that's working to bring in other levers to improve the Buy Now, Pay Later. We have a squad just for the Buy Now, Pay Later and services. When we look at 1P and 3P marketplace, you're right, it's really well structured, and we can actually accelerate growth, but we were really concerned with the health. How do we improve profitability? Well, competition is what it is, so the products become a little more commoditized. When I look at our strategy here, if I consider investments in Google to bring customers to go into my website and pick, pick up a 3P product, profitability becomes harmed, and that becomes really expensive. When I use this to be complementary to those customers that already get into our site to buy another product, it becomes a lot cheaper, and I make more money. What we're doing is that since we have a really big customer base and redirecting these investments in marketing, and this costs 0.1% instead of 5% or 3%. When you go to the open ocean, the best result is 2%. There's a lot of items that go up to 5%. There's items that even go over this. You look at the average ticket, you can see like BRL 7 or BRL 8, but it gets really heavy. This strategy will bring more health, and it's already changing the health of the marketplace. About leading this transformational plan, now it's a lot lighter, and I'm more focused now, and we're gonna have smaller growth. We do hope to have growth in the marketplace, but we think it's gonna be more organic and not just bringing in new customers. It's about recurrence. The seller churns, we have some negotiations going on, and there is a bit, but nothing that's gonna leave the normal panorama. We're already at this level of 150,000 sellers, and this gives us a lot of granularity and diversity and the SKUs. Some things, with less competition and, short, shorter, slower, turnover, and then that's where we're gonna really start making money. Instead of using money to build money and make more, we want to profitabilize what's already done. Thanks, Renato. Thank you, Gabriel. Thank you, Felipe. Our next question is from Eric from Santander. Eric, you may proceed. Thank you, guys. Good afternoon. On our side, we have a little more of the modernization of the assets and the foreign potential for the year 2023. It's a lot more about understanding how your expectations are and what you guys think is a little easier, and what could be a little more difficult, and what you guys consider could possibly even have an additional potential? Thanks. That's pretty much it on our side. Thanks, Eric. Let me take that question. We mentioned BRL 4 billion invested in 2023, on which BRL 2.5 billion of tax credits. We performed the semester with BRL 1.2 billion, and we're saying and reaffirming and confirming the performance and expectation for the second semester, which is gonna be BRL 2.5 billion in a higher margin than what it was last year. There's the crescent and the monetization, and this is also really important because now we start seeing. When you look at the balance of the ICMS, as we can see, it's already the third quarter where the total balance is already at a reduction, indicating that we're monetizing more and the actual generation of the credit. Stock with BRL 1 billion already underway, and we began the non-purchase of categories that we're migrating. These purchases were already suspended. Now, as Renato mentioned, we have the next few months, where slowly but surely, this cash will come into the company. Of course, we have seasonality, and structurally, after this period, we will reduce the company's stock at this level. It's important to mention that the stocks, there's a lot of benefits. We have the release of cash. There's a benefit of how we're doing things that will also improve the profitability, since we're going from business categories that have low margins, and these should improve overall. Then they'll bring, as we mentioned, this migration and the shift in the mindset, and we place the cost of capital in a very visible and relevant way for our day-to-day decision making. We want to sell without losing the sales, so you'll be generating a healthy friction, with logistical management, and you have to position the stock in the best way possible. Finally, the reduction of the stock will also lead to smaller accumulated and accumulated credits in ICMS that we have here. There are many benefits. Here we have the assets and some stores here. We're gonna have a lot of these processes already taking place in the past, and now we're at this phase where like a final stretch in the process. We have these BRL 150 million-BRL 200 million to continue to monetize the short term. The sale of subsidiaries is a company that actually has over BRL 500 million of tax losses. We actually discussed this in the financial statements. When we talk about income tax and when we talk about non-recognized tax losses, this is something that we're gonna be working on with the execution. These are all levers that are under our management. BRL 3.5 billion are the main ones that we've already mentioned, and the other ones we already mentioned as well, and we're working on them till the end of the year. Okay, Elcio, thank you very much for the answer. Eric, now we're gonna call Iago. Iago, you may proceed. Thanks for taking our question, and congratulations on the details. We had two questions on our side. The first one is about the closure of stores. Those 50 to 100 stores that you estimate to close. Is this closure is concentrated in a specific brand? We saw there's a lot of closures in the Pontofrio stores. Could we imagine that this would be more concentrated in Casas Bahia now? If it's concentrated, it may be in commercial spots that are in shopping malls or more on streets. Could you talk about more details in regards to the closings? Is there some example of categories that are gonna go from 1P to 3P? We can have more details about this. Thanks. The Pontofrio brand had some adjustments to keep it in regions where we're stronger. In some regions it's stronger, but so there wasn't a concentration of brands. In Rio, we didn't have any kind of utilization, and now we decided to push a little more, but we tried to look at opportunities in cities where we have stores open. It's nowhere where I'm gonna lose the market, and we can see a negative margin, that we can capture part of the sales and other support. We see that the opportunity to close is the best solution. The other 50, we can possibly keep open. We are renegotiating the rent and also the reduction of the stock in these stores, optimizing working capital, and depending on the performance, part of it can be more profitable, so we can keep the stores open. When you go to 1P to 3P, we're giving a lot of granularity on the plans because we think that the company needs to conquer and trust, but this opening and breakdown brings some strategic decisions. These are products with very low average ticket, and there's a lot of volumes per day. We sell a lot, but the cost of service was pretty expensive and including the stock we have. We had BRL 150 million in stock. Like the personal hygiene items. It's like just the 23 categories that we have a lot of granularity, KL items that customers buy frequently, but it involves less than 5% of our customer base. I'm not gonna lose these clients because the difference is that instead of having a gross margin of 15%, but it costs maybe 14%, 15% or 16% to meet every, I can make, like, 10% or 12% at the take rate, and that's clean. Cash in ours, this improves a lot and without investing capital. When you look at the ROI, it gets healthier. Okay, perfect. Thanks, guys. Thanks, Iago. Our next question is gonna be in English, and I'll invite Andrew to submit his question, and we can answer in Portuguese. Go ahead. Thank you. Thanks. Andrew, sorry, we can't hear you. Thanks very much. Can- Andrew, please. We cannot hear you. Maybe if you can write, because we can't hear you. I, I believe you have a problem with your mic. Yeah. Please, I don't know, Gabriel, if you can text him, so he can ask his... I will make it. Okay, thank you. Hi, Andrew. Can you hear me? [Foreign language]. I can't hear you. [Foreign laguage]. I guess mine is not coming through. I can talk. Okay, we got some words. I believe that you mean that you will follow up with Gabriel later, right? Yes. Cheers. Okay. Sorry about that. I believe that now we can hear you. Oh, yeah? Please, try. Okay. Go ahead. Thank you. Sorry about the difficulties. The two items I'm curious on is how you think about the impact, omnichannel sales as you close the stores. Second, an update on full commerce, how the logistics as a service is progressing. Thank you. Perfect. Perfect. For comprehension of all here, I will answer in Portuguese, okay? You have some translation. Okay. omnichannel affects the understanding that the stores were closing, and we're still having stores in the region or online. There even be a migration, maybe from physical to online, but we think they're different markets. We believe that this store will probably migrate more to a neighboring store than an online operation. It's all under control. About the second question, sorry? Full commerce, full commerce, full commerce. Oh, about full commerce. Yeah. About full commerce, actually, fulfillment and the fulfillment plus, as we've been doing more of, so it's something that we really believe in. This migration of categories is actually a stimulus to bring in more sellers here. It's a business that we're gonna invest in, carry it margins and not much capital invested. It's worth saying that since we have idle capacity in our logistical infrastructure, which is the only one this size, the 29 PCs in all of Brazil, we do plan to accelerate full commerce. Fulfillment suppliers, but also logistical services, and not necessarily fulfillment, but that I can work on just the higher logistics with the margins. Here we have retailers, fashion retailers, generic platforms for marketplaces and manufacturers, industry suppliers that are hiring our services as well as logistics. The actual full commerce that's operating with pricing and white label, we practically don't do. We have just a little bit of fulfillment plus, where we perform a little bit of the website's operation. I hope that was clear. Let me know if you need more clarifications. Great, thanks. Thank you, Andrew. We do not have any other questions. I'll pass the floor to you, Renato, for your final remarks. Thanks, guys. Anyway, I just wanted to leave this last message here that we're really excited. One thing I've noticed that I think was really surprising was the capacity of execution. We didn't expect to reach the 100 days with so many levels already at maturity. We're working on this plan with a lot of feet, and it's allowing us to have a deeper and anticipated perspectives of initiatives, which gives us comfort to understand that we have a solid transformational plan, back to the basics, low risk. We really reach the end of the year with a whole another company and maybe take one, two, or three quarters, so the market starts noticing this and looking at the balance sheet, cash flow, and say, "Look, here is a company that's not only solid and sustainable, but, but there's a lot of capacity to capture other possibilities." We have been profitabilizing the platform a lot, and we really wanna thank you for your trust and participation. Count on us, and especially I want to thank the huge, great team at Via that's delivering a lot and really... I wanna thank everyone with such full dedication. Let's go, guys. Thanks. Thank you. Special sales for Father's Day. Special sales for Father's Day. Access our website and download the app.