Good afternoon. On behalf of Montega, welcome to the earnings call of the New Work SE regarding the fiscal figures of the fiscal year 2022. CEO Petra von Strombeck and CFO Ingo Chu and Patrick Möller from Investor Relations will give you a presentation on the results in a moment. Afterwards, there will be enough time for our Q&A session. Questions can be then asked by audio line or chat. We are looking forward to the results, I hand over to Mrs. von Strombeck. Hello, welcome everybody to our prelims result presentation for 2022. Thank you for your interest, thank you for being with us today. As you're already aware, today we are presenting prelims, as in recent years, we obviously don't expect any deviation from prelims to finally audited numbers, which will be published with our annual report of March 22nd. As always, Ingo is sitting next to me. He'll guide you through the financials later. To start with the summary of 22. After almost two quite challenging years impacted by the pandemic, 22 was a very successful year for us, we achieved our core financial targets. Our top and bottom line KPIs performed nicely, while our key performance non-financial indicators showed good growth throughout 22. We expanded reach and visibility of our core SE destinations, XING and Kununu. We started our journey of repositioning XING from a social business network to a jobs network and introduced the first version qof our new flagship recruiting suite, Onlyfy One, at the end of Q3 last year. Let me do a quick deep dive into three core financial KPIs. As you can see, revenue, EBITDA, and net income are up. Our pro forma revenue grew by 10% in line with our targets. Our pro forma EBITDA grew to EUR 104 million. Both pro forma KPIs line up with reported numbers. Pro forma net income grew by 10%, while reported net income growth is slightly lower. Ingo will elaborate on the minor one-off items that we exclude in our pro forma net income. How did our two core SE destination develop last year? Let's start with Kununu, the clear market leader for workplace insights in Germany, Austria, and Switzerland. Kununu managed to grow their inventory by almost 30% to 8.1 million valuable employer insights. Our inventory is super important, as the data collection from employees is highly valuable for anyone about to change jobs. Every employer review, salary data point, or even corporate culture analysis helps people make a far more informed decision as to which employer is the best fit for them. In turn, reducing frustration and ideally also early employee churn when Kununu matches people with companies based on numerous filters and criteria. This is why Kununu is important for our future strategy and success. We deliver transparency to the working population. This is real value nobody else is able to deliver in such depth. At the end of last year, we also relaunched our Top Company seal. As soon as five different criteria are met, an employer can buy the seal and use it for employer branding and marketing purposes to attract new and more candidates, for instance. Our customers like it a lot. Moving on to XING, this is clearly a more challenging environment given the competitive landscape in conventional social networking. In view of this, we've sharpened our strategic positioning for XING during the last couple of quarters and will gradually move in a different direction when compared with our U.S. peer. We grew our membership base by 1.2 million in 2022, now hosting 21.5 million people, mainly white collar workers on our platform. We have a clear strategy to develop XING from a general social business network to a job network going forward. During the last couple of quarters, we started a few initiatives centered around someone's career path. We started to leverage data from Kununu and launched a culture assessment that helps our XING members find the best fitting employer for them. In addition, we started a job satisfaction survey, which, after completion by our members, provides recommendations and guidance on how to improve job satisfaction, what needs to change in their job life, et cetera. In the end, we want to ensure that members are found by companies where the job role and culture matches their own lives and needs. More than 20,000 HR managers are specifically looking for talents for their companies on XING. As a result, XING ensures that members don't miss out on any opportunity and are found by great employers. Moving on to our B2B recruiting or to put it in a better way, our HR solutions business. In 2022, it accounted for two-thirds of our revenues and is growing nicely at around 20%. As you can see on the left side, the pandemic impacted our business negatively in 2021. Since then, we've very solidly added 300-400 net new corporate customers per quarter to our subscription business. For the full year 2022, we added more than 1,500 net new corporate customers to our B2B SaaS solutions. On the right-hand side, you see the quarterly revenue development. Growth rates were quite high in the first half of 2022, given the very weak comps to 2021. We saw these numbers stabilize at around 20% towards the end of the year. Given the high growth rates of our HR solution, the business already accounts for two-thirds of the group revenues now. During the last 12 months, our bundle products and the job ads business in particular, have positively contributed to this growth. Let me add, though also still in small terms, absolute revenues that our software developer matching platform, Honeypot, which we acquired back in 2019, grew by more than 80% compared to 2021. What can you expect from us in the future? Given that the demographic change and the growing scarcity of talents are pushing our business forward, we confirm our strategic approach. We are on the right track. Actually, we carried out an annual job survey just recently with forsa. Are you aware that almost 40% of German professionals, this was based on white collar, are open to changing jobs? For us, this is good news. Scarcity and reduced retention means need for recruiting tools and talent access. Coming to our strategic framework, I'll do a quick recap. We thrive for a better working life. That's our North Star. This chart shows our strategic framework, i.e., how we think of our business. You can see the two parts of our business. A B-sided business at the top, starting with HR customers, and a C-sided business at the bottom, starting with C-side users. Our ambition is to become the recruiting partner number 1 for HR in DACH by winning talents. This is our strategic priority. Obviously, this will only be possible by leveraging our strong C-side talent access. In view of this, we'll continue to work on winning talents in the DACH region and will strengthen and invest both in Kununu and XING. The same is true for our B- side. We'll fully focus on its HR Solutions and expanding our leading market position in employer branding and recruiting. In September 2022, we launched our new B2B brand, Onlyfy, and the first version of our new recruiting suite. It's all about focus. We are convinced we can create more value by focusing on our core value propositions of finding and hiring talent on the B- side, and enabling our users to live a better working life through our C-side propositions. Thus, we have defined three core investment areas for 2023. The first is we will invest in talent access through Kununu. The second, we will reposition XING from a social business network to a jobs network. The third, we will invest and expand Onlyfy One as our core talent acquisition platform. Let's start with investment area one, talent access through Kununu. I do a quick recap for everyone who hasn't been following us in the past. Kununu is the market-leading employer branding destination actually in the German-speaking region, with more than eight million workplace insights, including employer reviews, salary data, and information on corporate culture. Today, every second job seeker consults Kununu to get qualified insights, salary data, et cetera. With the growth of our salary data insights in the last years, Kununu has opened up to all professionals, not just job seekers. To get transparency whether the salary is fair, whether one could earn more with another company out there is very relevant for everybody. Furthermore, Kununu's talent access is not limited to white collar, which is the focus of XING, as you know. Kununu provides insights and is used by both white and blue-collar segments. That leads me to our ambitions and investment fields for this year. Certainly, we will continue to invest in content and data growth, as this helps our members and users to make better and more informed decisions when choosing the right employer for them. We will invest in increasing our market penetration within Kununu's total addressable market of about 42 million working professionals, white and blue collar, in German-speaking countries. Let's move to XING, our second C destination that provides talent access for employers. We will reposition XING from a social business network to a jobs network to regain an identity for XING that clearly differentiates it from other social networks. XING already has numerous strengths today. XING has the largest number of relevant jobs and the highest number of actively searching recruiters in Germany. With millions of profiles, which are CVs, we have unique insights into our members' possible career path. Based on these insights and user preferences, XING can offer the most relevant job recommendations tailored to individual needs. Combined with our insights from Kununu, we can provide the best jobs and most trustworthy job guidance on the market. We will revamp the network and gear it towards this relevant use case of recruiting. In fact, we've already started communicating our new value proposition on our new XING logged out page. Going forward, we will invest in building features and solutions that help our users and members to get better understand their career path options, finding the right job, getting found by headhunters or the right employer, and making sure we act as matchmakers for them. Moving to our HR solutions. Irrespective of potential short-term challenges that might negatively affect the employment market and demand for talent acquisition solutions this year, we are absolutely convinced that demand for talent access will increase over time. That's why we've invested our resources into building the first version of our new talent acquisition platform called Onlyfy One, which we launched at Zukunft Personal in September 22. onlyfy helps companies to find suitable candidates quickly, easily and efficiently. facilitates recruiting by not only automating processes and simplifying complex procedures, but also by supporting HR managers thanks to AI. In 2023, we'll focus on further expanding the suite with two more release cycles that will add important features to the current version one of Onlyfy. These are our core investment areas for this year. Let me now share our dividend recommendation with you. As you know, and you will also hear that from Ingo, we are a very profitable and cash generative company, creating more cash than we need to develop, i.e., invest into our business. We will thus increase our regular dividend from EUR 2.80 to EUR 3.16 per share. In addition to that, we decided to recommend a special dividend of EUR 3.56 in addition to the regular dividend, given our net cash position of more than EUR 120 million at the end of 2022. Both dividends will not limit our ambition to grow or do M&A. This is it for my part, and with that, I hand over to Ingo. Thank you, Petra. Good afternoon, everybody. This is Ingo. I'm going to lead you through our preliminary figures for the full year 2022 and Q4 2022. Overall, 2022 has been a successful year for us. The year turned out better than expected. More importantly, it confirmed our strategy, our winning aspiration of becoming the number one recruiting partner by winning talents. Let's start with the key message points. Number one, revenues came in at EUR 313 million. With that we have accelerated our top line growth to 10%. Number two, we continue to increase our access to talents on the C- side. Both XING and Kununu have grown their non-fin metrics. That is important because it is the basis for our monetization, especially in e-recruiting. Number three, EBITDA came in at EUR 104 million. Number four, free cash flow came in at EUR 44.1 million. Number five, we propose to increase our regular dividend to EUR 3.16 and to also pay a special dividend of EUR 3.56. Now let's go into our P&L. Reported service revenues came in at EUR 313.4 million. That's up 10% year-over-year. Pro forma service revenues equal reported service revenues. With that, we met our upward adjusted revenue prognosis. Growth was driven by our e-recruiting business, which is at the core of our group strategy. Reported EBITDA amounts to EUR 104.1 million, which is up 6% year-over-year. Pro forma EBITDA equals reported EBITDA. With that, EBITDA meets guidance that we have given. EBITDA margin came in at 33%. As you know, in investment mode, we are aiming for an EBITDA margin in the low thirties. Depreciation amounts to EUR 37.9 million, which is down year-over-year. Last year, our depreciation from rent was EUR 4 million higher, mainly due to double rent from moving into new offices. Reported financial results amounts to EUR -2.8 million, which is down year-over-year. The year-over-year development is mainly driven by non-operating, non-realized book losses on investment of our cash reserves. If you eliminate this effect from cash invested, this year's pro forma financial results amounts to EUR -1.1 million. That consists of non-cash effects, mainly, according to IFRS. Reported net income came in at EUR 46.1 million, which is up year-over-year. Reported EPS amounts to EUR 8.20. If we adjust reported net income for the non-operating effect, which this year is only the book loss on our cash and rents, pro forma net income comes in at EUR 47.3 million. That's up year-over-year. Pro forma EPS comes in at EUR 8.41. On the next chart, I'll give you some more context on profitability by segment. These are reported figures. You can see B2B e-recruiting segment contributed EUR 140.2 million profitability. That's up year-over-year. Margin came in at 68%, which is up year-over-year, despite our continued investments into future growth. The B2C segment contributed an EBITDA of EUR 20.6 million with a segment margin of 23%, both down year-over-year. As you know, this development is driven by the decline in direct B2C monetization as well as increasing investment in growing our talent access through XING and Kununu. The B2B advertising segment EBITDA came in at EUR 9.5 million. Margin is 58%. That's slightly down year-over-year. The key driver here is weakening advertising spend on the back of a weak macro situation. As you know, these segments are not independent of each other. For example, our recruiting business is based on our strong talent access from XING and Kununu. While revenues are shown in the e-recruiting segment, the cost for the talent access is shown in the B2C segment. This separation makes it difficult to connect our numbers to our strategy, and therefore, we've decided to adapt the segment reporting to our winning aspiration. I'll tell you more about that later. We move on to revenues. You can see our revenues here by segment. Again, there is no difference between reported and performer revenues. The B2B e-recruiting revenues have grown 22% to EUR 207.6 million. Growth was driven by all revenue streams, all revenue streams have grown double-digit. Passive recruiting has done particularly well. We have changed our thesis here. While in the past, we have invested mainly into growing our active recruiting business and our employer branding business. In the future, we also see opportunities in passive recruiting and we'll also invest into growing our passive recruiting business. Looking forward, we expect double-digit growth in our recruiting business in 2023. However, we are more cautious short term than we used to be at the end of last year. The past six weeks, we've seen significantly more restrained demand for recruiting solutions in the market overall. It seems that the macro impact on recruiting is stronger than anticipated in the short term. Long term, however, we remain bullish. As you know, demographics drive increasing scarcity of talent, which in turn drives increasing demand for recruiting solutions. With XING and Kununu, we have very strong access to talent, which allows us to deliver on that recruiting demand. B2C revenues came in at EUR 89.3 million. That's down year-over-year as expected. Key driver is the paid memberships business at XING. Whereas InterNations, after having been strongly impacted by the pandemic, has returned to modest growth. XING paid membership revenues have declined significantly. We have discussed this. Financially, that hurts, but strategically, it is right. If we want to become recruiting partner number one by winning talents, we have to maximize talent access. As a consequence, we have to prioritize growing the talent base over direct B2C monetization. That is what we're doing. For this year, 2023, we expect direct B2C monetization to decline further and have included that in our plans. Long term, however, we do not expect direct B2C monetization to go down to 0. B2B advertising revenues came in at EUR 16.4 million, which is basically our previous year's level. Next to our cash flows. As usual, we exclude for transparency purposes, organizer cash. Also, we show the cash effects from discontinued operations in a separate line. Operating cash flow before organizer cash amounts to EUR 79.2 million, which is down year-over-year. Key drivers are cash flows from changes in net working capital. As you can see, unlike normal, cash flows from changes in net working capital are negative. The reasons are one time. For example, we had a larger prepayment for our Q1 media campaign. Also you will see in the balance sheet that our liabilities from goods and services are significantly lower this year. That's because in 2022, we've paid faster to avoid negative interest on our cash reserves. Going forward, given our business model of prepaid subscription, we expect positive cash flows from changes in net in terms of growth. Cash outs for investments in our operating business amount to EUR -28.2 million. That's significantly down year-over-year. As you know, we had moved into the new offices last year and had a one-time extraordinary CapEx for that. Cash outs for rent amount to EUR -5.7 million. That's up year-over-year. This includes a positive lease incentive, which became effective this year of EUR +2.8 million. Actual cash outs for rent are EUR -8.9 million. The rest is exchange rate effects and interest. Last year included a positive lease incentive of EUR +7.2 million. In 2022, we did not have any cash outs for investments and acquisition. Some smaller items, that leads to a free cash flow before dividends of EUR 44.1 million. That's up year-over-year. Out of that, we've paid out a regular dividend of EUR 15.7 million and a special dividend of EUR 20 million to our shareholders. With that, free cash flow after dividends amounts to EUR 8.3 million. That's it for the full year 2022. To sum it up, we have increased our revenue growth from 5% to 10% driven by e-recruiting, which confirms our new and old focus strategy. We have continued to grow our talent access on the C- side through our consumer brands, XING and Kununu, and we've grown EBITDA while continuing to invest into our long-term growth. Let's quickly go through our Q4 numbers. Reported revenues came in at EUR 82.1 million. That's up 8% year-over-year and up 4% quarter-over-quarter. Reported EBITDA amounts to EUR 23.5 million. That's up year-over-year. Reported EBITDA margin amounts to 29%. Depreciation amounts to EUR 13.3 million. This includes the usual one-time extraordinary write-offs on software. Reported financial result is EUR +0.3 million. This includes a non-operating effect from a revaluation of our financial assets in the amount of EUR +0.5 million. If you take out that positive non-operating effect, pro forma financial results amounts to EUR -0.3 million, which is basically on previous-year pro forma financial result of EUR -0.2 million. Reported net income came in at EUR 8.4 million. That's up year-over-year. Pro forma net income amounts to EUR 8 million. Let's go over Q4 revenues really quick. B2B e-recruiting revenues came in at EUR 56.4 million. That's up 19% year-over-year. B2C revenues came in at EUR 21.3 million. That's down year-over-year. We've talked about the situation. B2B marketing solution revenues came in at EUR 4.3 million, down year-over-year. Now let's talk about our dividend. You know that we are paying a regular dividend and that generally speaking, our policy is to pay that dividend continuously and sustainably. Based on that policy and based on our results in 2022, we will propose a regular dividend per share of EUR 3.16, which is up 13% versus last year. We've taken into account that in reality we had the events business, although in our numbers we had to exclude it according to IFRS 5. You know that we believe in having a strategic cash reserve, which we can use for strategic opportunities such as acquisitions. At the same time, we do not want to have more cash than necessary. When we look at our cash reserves now on the one hand and our potential uses at this point in time, we currently have more than we need. As a consequence, we've decided to pay a special dividend of EUR 3.56 or EUR 20 million in total on top of our regular dividend. As always, let me emphasize that paying the regular dividend and paying a special dividend does not prevent us from further growing the company. Given the generally speaking, high profitability, prepaid revenues and low capital intensity, our business remains very cash generative. Regarding potential large opportunities if you take into account our remaining cash, our authorized capital, and our debt capacity, we could easily fund projects up to EUR 500 million. Finally, let me give you an update on our planned change in segment recruiting. Far, we have reported three segments: B2B e-recruiting, B2C, and B2B marketing solutions. As you know, these segments are not independent of each other. Our recruiting business is based on our strong talent access on XING and Kununu, but while the revenues are shown in the B2B e-recruiting segment, the cost for talent access are shown in the B2C segment. This makes it difficult to connect the numbers to our strategy and therefore we have decided to adapt the segment reporting to our new winning aspiration. Going forward, we will have one segment called HR Solutions and Talent Access. In this segment, we will show revenues from recruiting, cost for the go-to-market for our recruiting solutions and cost for the talent access. That segment will show the heart of our new winning aspiration. On top of that, we will have a segment B2C, which will show the business based on direct B2C monetization. This is XING paid memberships business and respective costs and donations. That is our former historical core business, which is now a cash cow. Furthermore, we will have a marketing solution segment, which will show the advertising business at a respective cost. That is non-strategic by-product business which with contribution margins. Also, what we will do is we'll allocate formally centrally managed costs such as shared services, real estate, et cetera, to the units. Revenue-wise, not much will change. However, costs will be more appropriately allocated to take into account our strategy of growing our revenue through recruiting solutions which are based on talent access from our consumer brands, XING and Kununu. That's it about the 2022 numbers. Let me give you an outlook for 2023. As you know, our long-term opportunity continues to be very attractive. Talent will become increasingly scarce due to demographics. This development is inevitable. As a consequence, demand for recruiting solutions will increase. With our market leading C destinations, XING and Kununu, we can offer our recruiting customers unique access to scarce talent. Short term, we've gotten more cautious. During the first weeks of the year 2023, the market of recruiting customers has become more reserved. Nevertheless, we expect double-digit growth in our recruiting revenues. In conjunction with decreasing B2C revenues, you all know the strategic reasons for that. At this point in time, we expect single digit growth on group level for the full year 2023. We expect year-over-year revenue growth to be lower in the first half of the year and to increase in the second half of the year. For our guidance, we use, as you know, absolute pro forma EBITDA as a KPI. For the full year 2023, we're aiming for an absolute pro forma EBITDA between EUR 108 million and EUR 111 million. This year we are opting for a range because of the prevailing macroeconomic uncertainty. We want to preserve some flexibility to invest into our long-term growth independently of our revenue development. Much for our outlook 2023. With that, we open up the floor for questions. Thank you very much, Mr. Chu and Mrs. von Strombeck for the detailed presentation. We will now move over to the Q&A session. If you would like to ask your question directly to the management, please raise your virtual hand. If you have dialed in by phone, please press star key followed by number nine to enter the Q&A queue. You will be then asked to unmute yourself by pressing the star key followed by number six. We already received the first question. Please go ahead, Mr. Fuhrberg. Hello. I hope you can hear me well. Can you hear me? Yes. Yes, we can. Oh, perfect. Two questions from my side for my first one, especially on your cautious outlook with regards to the current economic situation. I mean, we saw some workforce reductions, especially in listed companies as well. Is that something you also experience in your other broader customer base for HR Solutions? What is your assumption basically for the remainder of the year, when this should change or do you expect this to change at all in 2023? That may be a little bit broader outlook from an economical perspective from your side. The second question with regards to the new segments, is it fair to assume that the revenues in the B2C segment will still decline quite significantly in 2023? Also with this, the new segmentations, and also with regards to the margin. I mean, the margin in the B2C segment is now quite significant, and if we continue to assume a decline of about EUR 10 million of revenues in this segment and assuming this high margin, that would have quite some impact on the EBITDA development as well then. Okay. Let me start with the economic outlook. Happy to answer that one. Obviously, economic outlook is always a difficult thing and some kind of a crystal ball. When we look at the business climate indexes, we see that actually they go back up already. What we also see is that the number of open positions in Germany is still at a quite high level. There still is a recruiting demand. On the other hand, especially for small and medium enterprises, that's our main client target group, we see that they are more cautious. They are more reluctant to invest. That is combined with a factor that we see on the talent side, i.e., that fluctuation and retention figures are changing in the industry. The talent currently in the economic climate seem to be less willing to change job or, the retention is increasing to more normal levels, which we haven't seen in the past. The overall turnover of talent is a bit less. How do we see the outlook? As the indices for the business climate go back up, we consider that the second half of the year will certainly be better than the first half, and that everything will level out and add up to the business judgment on our side that Ingo has given, which will be a single digit growth for total group revenues. I hope that answers the question. Yeah. I leave the second part to you, Ingo. Yeah. Okay. When it, you know, when it comes to the new segment reporting, actually on the revenue side, not much changes. What changes is how we do allocate the cost and to make it more, you know, to allocate the talent access cost towards the e-recruiting business because one doesn't work without the other. In terms of the B2C revenues in 2023, yes, we do expect a decline. Might be even a little bit stronger decline than in 2022. We have included that in our plans. Okay? Including that decline, our guidance for EBITDA is EUR 108 million-EUR 111 million in absolute pro forma EBITDA. That's included. Okay. Thank you very much. We will now move on with Mr. James Bodner. Please go ahead. Hi, guys. Hope you can hear me. Thank you very much for the presentation. We're excited to be roadshow with you next week in London. Just a couple of questions from me, please. The first is on Kununu. You gave an insights growth number, I believe, but I was just wondering of around, was it 28% year-on-year? I was just wondering how that. Thank you. How does that translate to sort of a revenue growth number or an earnings growth number if you give that kind of granularity on a product-by-product basis? Maybe you don't. Actually, we're given the overall number of our B2B segment, that number is. 22 ... is as you have seen, 22. The Kununu part as well as the other parts showed a nice growth last year. As I also pointed out in the presentation, the transactional business of job ads was even higher than in the other segments. Overall 22, special high on the job ads business, which makes that we now end up with about roughly 1/3 Kununu related employer branding, 1/3 job ads and 1/3 active sourcing if you look at the B2B segments. Okay. Thank you. Just a two or three questions around the Onlyfy One launch then. I'm just, you know, I'm wondering when might we get some sort of number around how successful that's been. I appreciate very early days. Also just an idea of what you're deemed to be a successful launch, maybe in sort of year one, and whether those kind of definitions of success may have changed recently given what you say about a softening in demand in eRecruitment over the last few weeks. Well, if you look at the strategic direction we took with Onlyfy One, our idea is actually to create a recruiting suite where we get generate a high lock-in and a very high comfort and ease for the clients. We will step by step over the next releases, integrate all our solutions into that product. How would we define success? That we would actually define it in a way that ARPU increases, for example, because we see higher cross sales that are possible in those in that product. We would also continue to grow the total number of customers. What we are not going to report is actually detailed number of single product subscriptions. That's for competitive reasons, actually. Okay. Understood. Will we get some idea of how of kind of the Onlyfy One impact upon that B2B business? I think on the overall numbers, what we report is the ARPU. You should see a rise in ARPU going forward, and you should see a rise in new customers going forward, and that those are the main drivers and are partially obviously driven by the Onlyfy product. Okay. Understood. We do not plan. I mean, obviously it's an important strategic initiative and I think we've said that it's a journey that over time, and it will go at least until 2024, we will integrate more and more of our current standalone solutions into that product suite to provide a better user experience for our customers and also to, you know, through the combination, provide new value propositions. What we are not going to do is to change the KPIs that we report externally, but we will certainly comment over time on the progress of it. Understood. That's clear. Thank you very much. Thank you very much. We will now move forward with Nichola Neiser. Please go ahead. Good. I hope you can hear me. Just a couple of questions from my end. Firstly, on Onlyfy again. Is there any way you could quantify the investments you would need in 2023 to sort of get this off the ground and really drive traction? Also curious to understand why you decided to go with an entirely different brand and not sort of leverage the existing brands that you may have already sort of established. Some color there would be great. Secondly, on Kununu, could you give us some color as to what the average ARPU is and how this has been growing, and if that sort of monetization has increased with sort of growing ARPU as well? Lastly, on M&A that you may consider, what sort of verticals are you looking at if you would consider future M&A? Thank you. Okay. I'll start backwards with the M&A part and then work my way through the questions. Well, our M&A strategy is perfectly aligned with our general strategy. If we do M&A, we do it with the target of fulfilling our strategy either quicker or easier or with more security. What are we looking at? We are looking at talent side. Can we get access to certain talent groups that are demanded, or how can we integrate more talent access into our marketplaces? That's one potential invest field. We obviously also look at the HR solution side. Are there solutions or assets that we can add to the scope of our products that would help us on the HR side of things? We also look at combined marketplaces like Honeypot is one. Those are actually the factors. So either HR solution side or talent side or entire marketplaces, that's our search field for M&A. I hope that answers the question. Now coming to Onlyfy and the Onlyfy brand. Actually, We use XING in combination with Onlyfy because we call it Onlyfy by XING, but our, and thus leveraging the strength of our brand XING. Given that we have completely different target groups and also different Seaside brands, and that we are launching a complete new set of things that combines our strong Seaside brands. We came to the conclusion that a new brand reflects that best. Actually, the name of the brand, it keeps the promise or gives the promise already that we recruit the one and only and do the best matching. That's the story behind the brand Onlyfy, and that's why we decided to launch that new brand. The final question was? I can't remember. Well, it was the quantification of the Onlyfy investments. Mm-hmm. Actually, we don't really communicate externally the breakout for individual initiative investments. On group level, we stick to what we've communicated, that in investment mode, and we are in investment mode, we will keep our group EBITDA margin on a full year basis in the low 30s. That was the, you know, the quantification part. In terms of Kununu and average ARPU, you know, your question was, does it go up, does it go down? How is it developing? It is actually staying more or less constant. You know that pricing is depending on the company size and bigger companies pay more, smaller companies pay less. On average, as we grow the customer base for our employer branding solutions, that stays the same, more or less. Great. Thank you very much. I mean, abstracting from price increases, which we felt that of course increases it for everybody. Understood. Thank you. Thank you very much for your question. We will now go ahead with Lukas Schwenk. Yes. Hi, good afternoon. A quick follow-up on the investment topic, to ask it in more general, what is your CapEx budget for this year? CapEx is, in my definition, without leasing. Well, in general, if you look at our in our management view cash flow statement that we also use in investor relations, that would be, that will be. There will be CapEx and actually there is no rent in there because that would be in financial investment part. That is mainly. That is used to be, is a little bit over 10% of revenues. That has come down and you should, you know, going forward, you know, have it around 10% of revenues declining over time, but you should not go below 8%. Mm-hmm. Of revenues. On your group revenue target for this year, single-digit percentage grow as a wide range can go from, let's say, 3% to maybe 7%-8%. Would you be able right now to a little bit narrow this single-digit revenue grow, or are you still too cautious and maybe narrow it in the course of the year? Yeah, that's it. The latter. Okay. On the B2B segment, you said that you are target for double-digit grow, but we also have this increasing ARPU topic. Is it fair to assume that the number of new B2B customers will grow just in the single-digit percentage this year? Not necessarily. No, not necessarily. I mean, it, you know, it's. It could be high single-digit. It could be very, you know, it could be low double-digit. I wouldn't put too much emphasis on that in the model. Okay. That's from my side. Thank you very much, Mr. Schwan. Just a quick reminder, if you still have questions, you can place them in the chat or raise your virtual hand. We received one via chat regarding your marketing campaign, which is the largest in company's history. Can you report first success from this? Well, actually, we do track all KPIs that are necessary to track campaigns. We also do checks of the performance of the campaigns compared to previous years, et cetera. We see a good performance of the campaign, but I can't give any details here. Okay, thank you very much. You will propose a special dividend this year. Can you put this into perspective with your dividend policy? Do you aim for a long-term payout ratio or something similar? Okay. Our dividend policy is We continuously want to pay a sustainable dividend, and by that I mean regular dividend. That is a non-quantitative dividend policy as most of our peer companies also have. That goes for the regular dividend. If you look at the past years, but you have to take care a little bit with the IFRS special cases that need to be taken out or not. Usually, we had a payout ratio of about 40% on our pro forma IFRS net income, but that is not our policy, okay? That is just to give you an impression. The special dividend is a special dividend and therefore there is no regularity or principle in it. Basically, we look on it on a case-by-case basis every year, looking at what is basically the size of our funds and what is the potential uses of the funds. If we believe that this is more than we need, then we're happy to give it back to shareholders. The past three years that has been the case, but that does not necessarily have to be the case next year. Thank you very much. It seems that there are no further question. Thank you very much for the questions, and thank you very much, Ms. von Strombeck, and Mr. Chu, and Mr. Möller for the presentation and your time answering all the question. For some final remarks, I will hand over to Ms. von Strombeck. Well, thank you, everybody, for joining, and thank you for your interest. See you in one of our next calls. Bye. Have a great day. Thank you. Bye.