Morning, and welcome to our Quarter Three Results call. I would like to start this time around with the key takeaways for you. First of all, yes, we completed the sale of Fabreeka and Tech Products. As you all know, starting 1st of May, we had the signing and the closing. The signing on 7th of May, the closing was on the 23rd of June in 2026. Very important to our business is for sure our personal related measures we are taking as a very important pillar to improve our business and to do a business transformation. This transformation program is basically completed, right? All personal measures have been taken, we are enjoying the fruits of this success. Important to know is also that we increased our covenant headroom, our covenant now is also 3.9 throughout the year 2027. This is just to have some more safety and also to consider the requests of some of the shareholders and analysts who say we are getting too narrow in terms of the headroom we are having. Now we have a sufficient headroom also for the next 12 months in rough waters. This was a great achievement of our team negotiating with our banks. You've probably read it over the course of the past week. We have an intensive work along with Synapticon and are working on robots technology. This is something I will elaborate on at a later stage. Pointing out the two most important numbers,EUR 299 million, close to EUR 300 million. That's the revenue number for the past quarter with 10.8% EBIT margin. Yes, the revenues are under pressure. We'll talk a bit throughout the conference why that's the case. This is something I right away tell you at this page. It's right away driven by China and some China weakness in the market, that we are, at the end of the day, 4%-4.5% below prior year's sales number for the third quarter. However, we managed, even with these lower sales, having a better EBIT margin, this is something we are particularly proud on. A big share is driven by also all these efficiency programs we are doing along the line. Last year we have been at 10.5%, this year is 10.8%, increase on EBIT margin despite of some lower revenues on the third quarter this year compared to prior year's third quarter. Technical stuff. On the next page, you see some more details in terms of the transaction overview for the sale of Tech and Fabreeka. Tech Products and Fabreeka have been a good asset for us. We, at the end of the day, acquired them with a big acquisition in 2016. However, they are basically not in the core of our business, we put them held for sale 1st of May. Had the signing 7th of May. It was a flawless process to selling it to the VMC Group. They, at the end of the day, have a broad portfolio in that term already, it's very complementary to their portfolio. They've been, from the beginning, very interested. It was at the beginning kind of a process where we had more interesting people or companies in the scope. At the end of the day, we did narrow it down to the best option we had in both thinking about the portfolio fit and also in financial terms for us. The enterprise value was EUR 92 million at that stage, and it was a successful business for us. We did grow it a lot and the margin was exceptionally good. It was in a range of 30%. Revenue and EBIT margin 2025 were also remarkable. The closing did happen on the 23rd of June. What did we sell? Just a reminder for everybody. This is basically, yes, some things in relation to management of vibration and velocity control, however, not really fitting in a perfect way to our portfolio. You know that we are concentrating now on expanding on the automation side, the robotic side, and these elements, they have been to vast majority components for mechanical movements, rubber and plastic mounts. This is at the end of the day, what we sold. We have now a stronger focus on our core business with the electromechanical, intelligent motion control and automation business. That's something to concentrate on because we'll hear something on this playground later on with a great collaboration we've been starting along the line. What did we do in terms of this transaction? At the end of the day, as I said already, it's a wise move to basically concentrate on the core portfolio, which we do with that. We had limited synergies way forward, and we used the monies we got for de-leveraging our balance sheet. It's perfect fit to VMC Group. They took on the complete business from us. This was a strategic decision, value creating for both sides. Yeah, I've been touching that point already. We are progressing in a big way with our move towards industrial business. Not only that, a couple of years ago we bought this DESTACO, which is a great success in terms of beefing up our margin, which is a great success in terms of sales opportunities we have. But also we're investing now in the smart rotary actuator business for humanoids. This is just another pillar for us to strengthen our business. Why is that? You see that over the course of the past years, it's wise for us to invest into the industrial space. I've been mentioning that our sales have been with EUR 300 million, a little less than last year, around about 4.5%. However, our industry business, and we'll see that at a later stage, is actually improving. It is year-over-year, 8%+ on the industrial space. It was exactly the right decision we took to invest more and to foster our business on the industrial side, because also we are generating, aside of higher sales, we are generating nowadays majority of our profits in this playground because the margins we are tackling with the businesses are exceptionally good. If you see as an example, the DESTACO business and also other business opportunities like the rotary actuators for humanoids. Please think about that. It's 30 rotary actuators per robot, per humanoid robot. You find them in all joints. We have basically a USP. What's our USP? We started along with a well-known partner, which is Synapticon, where we hold more than 10% of their shares, a collaboration where we invested a low single-digit million number to make sure that they develop along with us these robot joints. They are basically experts in motion control when it comes to software and safety. You need a safety layer for these kinds of robots. The humanoid robots, they need a safety layer in case power is down or other things happen. This thing, they're pretty heavy, can't fall apart or can't fall onto people. This is why there is a safety mode. Synapticon is working on the software. We are working on the mass production. As you all know, we are experts in mass production, this is why we've been expanding our business in there and are now exclusive working with Synapticon and are jointly selling these applications into the robotics supplier, robotics manufacturer. The important thing to know is we did talk about that last week, we're talking now about it because we wanted to gather some facts before we get to our shareholders, because we are known for executing what we talk about. This is what I also can tell you here. It's not like on these PowerPoint charts, we already sent first samples to our customers, not only the hardware, but also including the software. This was a great success, is a great success, and there is great growth coming up in that playground, as you know. There is for sure headwinds we are currently dealing with. I also would like to give you an update on the headwinds. The light vehicle production on the year-over-year comparison is now for the third quarter on 22.9 million. If you add that up, we will not reach even the 90 million of produced vehicles this year. This is some headwind we for sure see because the automotive business is a volume business, we're just shy of 90 million, so we're behind expectation of the market here. The market actually, the original thought was that we would be above 90 million. Now it's below 90 million for the year, this is for sure adding some pressure, along with competitive pressure in China. Asia Pacific is and remains an area of highest competitiveness, predominantly in China. We see here some pricing pressure, this will continue. We know how to deal with it, right? We have wonderful actions in place to deal with this pressure and to come down with our costs. We're working on the purchasing side, on the operation side, dealing with our customers. However, this is just something which we, this is same for everybody else in the market, have to deal with. Customer sentiment. I mentioned customer sentiment, we'll talk a bit about that on the next slide, that we talk about the split of the business. This is a concern as well, that the consumer sentiment is low. As I said, the industrial business is improving now. We see a light at the end of the tunnel. On the automotive space, it's still fragile. For sure, with all the geopolitical stuff around, there is a high attention of everybody on supply chain and supply chain disruption. Talking a bit about our business setting, one thing you will see here, and this is different from last time we talked, the industrial business is gaining ground. We are now seeing an organic growth year-over-year of 8%. You see that on top left in this box, 8% revenue growth versus the third quarter last year. Unlike automotive, which at the end of the day, in organic way, was suffering - 15% over last year. This also confirms the great initiatives we did to foster and strengthen our industrial business. Strengthening our industrial business is and remains a main focus point. Automotive is extremely important for us because the nucleus of our success is automotive, because with economies of scale, highest level of quality expectations, this market of automotive drove us as Stabilus where we are, being a leader in many, many different segments, leading by a very nice cost setting and also extremely good performance and quality level. This is why we are known in the industry for very robust product, and this is why we also have no issues at all expanding into the robot market. It's also a market which is highly competitive and asks for a lot of quality and quality aspects, at the end of the day, quality guidelines, but we are able to deal with it. What did happen in the market over the course of the past quarter? This is an important chart for you. Automotive, yes, if you see the year-over-year change, it's even beyond the 13%, it's rather 15% organic side driven by market weakness and pricing pressure. Then we see the automation and industrial machinery sector stabilizing. Distribution independent aftermarket is growing. Commercial vehicle segment is growing. Energy and construction is growing. Aerospace, marine, rail, and defense is growing to an extent of 35% even. All the initiatives which we've been doing over the course of the years, particularly also now with defense, are carrying fruits. We're growing on the industrial side 8% organically, and we are growing in the sector where it really matters. The sectors which are highly profitable for us and where the customers really value our quality. This is something which was extremely important in the past quarter that we saw and see now the light at the end of the tunnel in that term. Let's talk a bit about the numbers. On the next page, you will find the first or the quarter three numbers. The revenue at the end of the day in organic way was - 5%, almost 4.4% to 5.2%. However, you see that the organic area was -4.4%. Some areas of FX were slightly positive even, but the soft market, particularly in the Asia-Pacific, knocks us down in terms of revenues. As I said, the important thing is that the industrial business is holding up and getting stronger. EBIT margin, likewise, we have had 10.8%, which is remarkable considering this weakness on the revenue side. This is driven because of our high share of industry business and also driven by the good initiatives we did to strengthen our portfolio in the industrial side. On the profit, you for sure see the effect now of our divestiture. You see the sale of Tech and Fabreeka, Tech Products and Fabreeka, this number, which was very good in terms of our profits. On the cash flow, you don't see this effect because for sure we adjusted all these effects and are currently a little lower than last year, same time around, and in terms of percentage is 9.5%. This is basically driven by the lower sales and thereby less EBIT average generated driven by sales. However, the profitability is holding up very strong, and it is and will remain stable because of the good and healthy mix we have now between automotive and industry. On the next page, you see the nine months view, so year to date. Actually, you see here that in terms of sales, there is a minus almost 6% in organic ways. Here the FX rate is even more and having a bigger impact. The FX rate impact on the quarter three was only 0.6%. On the year to date, it's 2.2%. That means the organic side is kind of flat over the course of the year, and the FX impact early the year was higher than it's now, and we also think that for the rest of the year, it will be rather reflecting the quarter three FX rate than the yearly average. However, on the performance for the complete year, we are at 10.7%. There is versus last year, for sure, this divestment effect of M&A. That means the divesture of 1.1% negative for us. Then you also see here that there was good cost synergies with this takeover the course of the year, EUR 1.7 million. Overall profitability also here in this view impacted massively by the sale of Tech Products and Fabreeka and the adjusted cash flow in the same range than last year. A little softer driven by less revenues, however, on a strong position nevertheless because of the healthy business setting we have. Good. We would need to switch to the next page. The next three pages, you basically see or the next four pages is by region, starting with an overall view on the Stabilus as a group. You see here over the course of the past five quarters how sales were doing and how profitability we're doing. Over the course of the quarters, a pretty stable picture, right, in terms of the EBIT margin, the adjusted EBIT margin in the range of 10.5%-11.2%, with a very good upside in 10.8% even in the quarter three with a + 0.3 basis points movement. In terms of sales over the quarters, pretty stable. However, as I said, the third quarter was less than the third quarter prior year. However, the business mix for us was positive, and this is why we've been generating good EBIT margins. We would move on now to the different regions, starting with Americas. You know that early the year we told you that we are suffering some performance issues on the side of America. You see here the EBIT margins gradually improving over the past two quarters. We've been at 8.8% in quarter two and now at 9.5%. This is a good indicator that not only the business gets a little stronger now in terms of also the industrial business, but also here some of these effects of our performance-related issues in our plant of Mexico we have been already settling and we are on a good way to also complete this journey in order to improve our business substantially and sustainably and this is what we are working on. On the next page you see the EMEA picture. Here also similar picture, kind of stable this time around, right? You see the upswing towards the end of last year, in the range of almost 12% margin Q3. The organic growth was also similar, 0.1%, pretty stable compared to last quarter. Also not too spectacular here. We go on the next page and see the APAC region, and this basically comes down to China. Here you see a big swing, right? We see 20% over the course of the past year, this is something which is an issue which we saw coming. That's why we've been talking over the course of the last quarters about it. The economy in China is particularly soft. We saw this effect right in the Chinese New Year, if you remember back, that's our Q2. We saw it being soft with February, March, after the Chinese New Year, where many people thought it would go upwards in terms of consumer sentiment, actually it did not. It is and remains soft. This is driven by the automotive market, for us hitting predominantly on the side of Powerise likewise and similar is the margin. When we've been talking about the margin in various meetings, I always said that I expect that the Asia-Pacific margin in the long run is stronger than the company margin, in the same range than the company margin. This is something which we see as important for us. We are actually year to date on 15%, we'll be in a similar range as a target for the quarters to come. The organic growth we see also for the next quarter as an issue, particularly in China when it comes to discussion on the Asia-Pacific region. Good. We continue our charts here. We see the adjusted EBIT margin improved by 30 basis points in the past quarter. This is also the Q3 view. We are coming from 10.5% - 10.8%. I've been highlighting that already. Similar absolute range of around EUR 32.2 million. You see here on the right-hand side, this big swing of the divestiture gains for sure the adjustments, because whatever we've been making in a net way from our sale of Fabreeka and Tech Products, we for sure adjusted, this is the upside. The net effect was EUR 44.4 million. We adjusted almost everything outside of some costs which we had. Other than that, there are some impacts in terms of lower sales. Revenues, you see there on the left-hand side. As an effect out of that, we see that the EBIT margin in the third quarter came down a little bit, it is in a similar range. The EBIT margin in percentage improved to 10.8%. In the next page, we see also here for sure in that view, basically the cash view in terms of Fabreeka and Tech Products impact. On the left-hand side, I will start with that. You see the starting point of EUR 66 million for the last year, basically some ups and downs in terms of M&A process, the divestment initiatives, with which also some sales related impact. For sure, we also here adjusted the effect of the sale of Fabreeka and Tech Products. You see this big EUR 79 million green bar on the right-hand side, and then the adjustment of EUR 73.2 million, which at the end of the day brings us to a like-for-like cash flow, EUR 28.5 free cash flow third quarter year to date for 2026. There is still a lot to do. However, we all know that this last quarter of the year is the strongest quarter for us in terms of cash generation. We are confident that also here we achieve our guidance, and also as we did narrow down our guidance, we'll anyway later on talk about the latest view on that. I would switch to the next point, and this is extremely important chart for us d eleveraging. Without a doubt, selling Fabreeka and Tech Products was driven as a strategic element. We want to concentrate on automation technologies, we want to concentrate on humanoid robots, and we want to grow in the industrial space. This is working, coming back to that point. You saw that quarter three last year to quarter three this year, the areas of industry are growing in almost all areas, predominantly in the area of independent aftermarket commercial vehicles, but also the areas of rail, air, and defense. This is something which is very positive for us. However, we've been selling Fabreeka and Tech Products because it doesn't fit to this core strategy, and we want to concentrate on the technical things which matter to us. We took the money and did pay back debts, and that's what you see here on this chart. The debt came down from EUR 631 million -EUR 554 million. Basically a delta of EUR 80 million or most. This is something which we're extremely proud of, and it brought down our net leverage ratio to 2.77. You would for sure ask now: Why do you then go into the range of 3.9 with your net leverage ratio, you take the covenant. We did that just to be on the safe side and because we got that hint also from investors and analysts and shareholders that we basically are better off if we increase the headroom, which we did with our banks, and this is the result, and this is what you see here on this chart. Just a reminder what we owe to the banks. There is EUR 100 million and EUR 150 million in terms of term loan facilities. One of them will basically run out next year, so we are on a refinancing for next year. There is EUR 350 million in terms of a revolving credit facility. With a net leverage ratio of 2.77, we are actually in a safe side because now our maximum leverage ratio, net leverage ratio, is 3.5. It will be 4.0 throughout the financial year 2026, and then 3.9 throughout the complete year in 2027. You would ask, why is such an odd number, 3.9 and not 4? This is something where we wanted to balance risk factors that the banks we are discussing with and wanted to get it for a minimum premium, and this is why we have been staying below the four. We are very stable with that. We achieved to delever and to pay back debts. Now our debt is EUR 554 million, which is, along with 2.77 at net leverage ratio, absolutely moving into the right direction and will continue keeping that as a main priority to delever and to reduce our debts, for sure. Net working capital is at 20.5.% There are also things to do. We have certain initiatives which we are executing as we speak. We have some financial initiatives which we're still doing, but also we have biweekly calls now with all entities to bring our inventories down, because here we are also facing some headwinds. Our inventories, they are basically coming down a bit and the accounts receivable and payable as well. You see here on the bottom right a business mix, which at the end of the day is typical for a movement to more industry. Payment terms are a little longer and for sure inventories are a little higher, but we are fighting this effect. You see us being successful already on the inventory side to a certain share, and we'll continue that path because the more we get into the industrial space, the longer payment terms in average get, and also the more inventory we need because in many cases, you can sell products only if you have them on the shelf. This is something which we need to acknowledge. It's a little more capital intensive than the automotive industry, and this is something which we are balancing and fighting against, and we are pretty successful on that and you will see that in the coming months. On the next page, cost savings project. I can't repeat it often enough because we are progressing very well. This slide is pretty similar to the slides we've been showing over the course of the past quarters. The restructuring expense has been executed to EUR 7.6 million, so that's the utilization as we speak. The cash outflow in the first nine months was EUR 7.3 million, so there's quite some cash still sitting there. Along from this accrual sitting there, because the accrual was way higher, it was in double digit EUR million, the cost savings in the nine months was EUR 15.4 million. You see the ratio, the cash outflow was EUR 7.3 million, and now the cost savings are EUR 15.4 million. It's a highly effective and good program for us. The expected savings will even further increase. The full year 2027 effect will be EUR 19 million cost savings because you know we have been starting in the first quarter and step by step we are coming up with these savings and the EUR 32 million recurring cost savings in 2028. You see that in all angles, we do what we promised. We've been growing the industrial business. We invest where it matters. We know what to concentrate on with this divestment, and at the end of the day, we are executing our cost savings initiatives. On the next page, I would like to lead you through the transformation program. It's well on track. Organizational transformation. The adjustments are in the execution phase. We have a stronger customer focus with what we do here. We are reacting faster to the market, and this is something which we further want to strengthen and work on. There are location-related measures. You know these measures are the ones which take the longest because you need to be very sensitive on which locations you do what because they are, at the end of the day, the front runners in terms of your customer interface and they are sometimes more difficult to move than other initiatives you're doing. This consolidation of offices, production facilities is also here well on track and there is more to come. That's definitely something which we concentrate on in the coming months. Personnel-related measures, we've been talking about that. It's executed and that's what we're proud of. Investment, also here, I gave the strong commitment that we will be below 6% in this year. Year to date, we've been below 6%, 5.8%. We know it's a tricky time. Some of the investments have a long introduction phase, particularly the ones which are important to work on the cost position. We will continue to invest in the new technologies and to get more cost-effective. With the current business setting, we also acknowledge and see that there is less investment needed for capacities, for sure. The business is flat on the automotive side, and we'll see this effect, and this is something which will also continue. I would like to highlight, we're coming to the last couple of slides here, the priorities which we're working on. The swift execution of the personnel-related measures. The footprint optimization, organizational streamlining, and then the cost management itself. That's something which is on the cost side, right-hand side of this chart here, very important. However, we continue to delever with that. We are ramping up the factoring. We also investing nevertheless in our future with good investments in terms of humanoid robots and working partnerships in order to make it happen. On one hand side, we're managing the costs in the short, mid, and long term. That's what you can be assured of. On the other hand side, we don't miss out on jumping onto the trains of success for the future, which is equally important for us. Always having in mind that yes, automotive is our core business where we came from, but we want to strengthen our industrial business. This basically leads me to the summary of nine months. For sure, we are impacted by the market environment. Our local-for-local initiatives help us a lot to make us resilient. We have 10.8% EBIT margin in difficult waters and have been able to delever massively. We did pay back EUR 80 million in terms of debt. For sure, with all I told you, we are very stringently executing the STAR 2030 strategies we have on hand. With that, we go for the page where we talk about the market and economics. There is a moderate outlook for the quarters to come. We see some softer growth in Europe and stronger momentum in U.S. and China going forward. As I said, particularly in the area of industrial business, things are holding up. Geopolitical tension, we always keep in mind, also in terms of securing our supply base. The basic broader light vehicle production is in the range of 90 million. Here is 92 million. Let's see where finally the number comes up. This is something which has in the past quarter been with 22.9 million vehicle produced, a little shy of this number if you extrapolate it to four quarters, but it should be in the range of EUR 90 million to conclude the year for us. Talking about conclusion, I would like to also point out our guidance, which we did narrow down, but within the original guidance we gave. We will end up being at EUR 1.15 billion roundabout. We will be in the range of 10%, maybe a notch higher, but in the range of 10% in the EBIT margin adjusted and the free cash flow at EUR 90 million roundabout for the year. There is only two more months, as you know. For us, the year ends on the end of September. There is August and September to go, and we are confident, very confident that we reach these numbers. Good. With that, I would hand over back to our host, and we would start the Q&A session. Absolutely. I am happy to do that. First of all, we talk about these growth angles, right? You mentioned the door actuation. The door actuation is going very well. We have been launching it with Xiaomi in China. We are now filling the pipeline of parts, and they start the Xiaomi production in August. Similarly, in Europe with BMW, we are the supplier for door actuation starting with the X5 series, and they are also here now in filling the pipeline in terms of sales. Both activities happen over the summer period, which actually is August and September. It is too early to say yet how this progresses then for the next year, coming back to your question also in the future, but for the time being, it is absolutely in accordance, slightly a notch higher than our expectation. That is in terms of door actuation. When it comes to the defense area, we are in the execution. You mentioned the propulsion system. There is a rocket propulsion system, a nuclear propulsion system where we deliver the remote handling equipment. This is running on track. It is exactly in terms of our forecast, running on our forecast level and also making good progress. The humanoids is currently on a stage where we see first sales for next year. This will be on the low single-digit million sales for next year, but kicking in as well next year, however, this year only by sample parts. This is important to know. The thing which goes positive is in general terms, all these industrial businesses. However, that is the point, and you are referencing also to the information we gave to the capital market two weeks ago, the industry of automotive, in general terms, is lagging behind. This is something which we, and I mentioned that as headwinds, we took into consideration narrowing down the guidance. Why is that? We know that, and we had exchange with our OEMs beforehand. For sure, we always know this information from their EDIs a little beforehand. Nowadays, you probably heard over the course of the past last days that the majority of the bigger scale automotive customers have been dampening their outlook for the next quarter a bit. This is something which we saw coming already couple of weeks ago. This is why we said, "Okay, let's consider that in our doings." Hopefully, it turns out a little better than this expectation is from the OEMs. Our current guidance on one hand side includes this cautiousness of these automotive suppliers because we got this heads-up a little earlier for sure with our EDIs. On the other hand side, we see very positive development on the door actuation, the defense area, and in general terms, industry. This is something which we see also going forward because I mentioned that our automotive business in an organic way is down 15% quarter-over-quarter, Q3 last year to Q3 this year. However, the way more positive and profitable industry business is up 8% year-over-year, and this is something which we think will be also strong in the quarter two. However, it will leave some marks on the sales side in terms of this automotive space. We are making up some of it with more profitable industry business. This shift from automotive industry, which is volatile, to the industry business with a good margin profile is working very well. We've been putting basically the money into the right basket with this initiative to strengthen industry business. I hope that answers your question, Claus. The incremental savings will be the EUR 4 million. As we stand here today at EUR 15.4 million, we will add another almost EUR 4 million for the rest of the year because there is only two more months to go now, and we had this steep ramp-up. We wanted to execute all the savings early in the year. There is EUR 4 million to come, and then we have the run rate for 2027, which is the EUR 19 million. Then out in 2028, it will be up to EUR 32 million even because then there are some more operational savings coming. Absolutely. Thank you very much for your question. Are there further questions? Okay. That is good. Let us start step by step, Yasmin. The first question is, in Asia Pacific, we have been down 18% year-over-year. As you know, that is what we have in the numbers, and you are absolutely right, the light vehicle production, in general terms, was basically flat. However, if you look into the details of the light vehicle production, the light vehicle production was predominantly strong in the small segment cars, in those OEMs also where there is low technical fitment of product. We are strong there with gas springs, right? This is also why we see there on the gas spring side a positive sign. However, if you go to the typical vehicles where you would have a Powerise, like the Cherys, like the Western OEMs, unfortunately, and we hear in the press that the Western OEMs are just losing market share. Also to certain shares, still Tesla there, but also the known bigger Asia- Pacific suppliers for bigger cars or producers for bigger cars like Geely, they are having had their difficulties in the last quarter, particularly in the last quarter, and this is basically what we saw. Our biggest customer is, as you know, on global scale, VW, and this is also something where we are strong at in China. Unfortunately, for example, VW, and you hear it in all the media, is basically suffering as well this weak market and particularly a competitiveness issue. With these lower sales on that end, for sure we have a good stake in the Western world customers on the OEMs side, and they're a little softer than we would have seen last year. This is the reason overall light vehicle production, yes, they produce the cars, but if you go into the segment analysis, then you divide it between Western world and local Chinese OEMs, then you see some shifts, and there are some vehicles out there. I mean, BYD is also losing some shares, but they're still doing good in their volumes. As you know, they produce their Powerise on their own, and this is something in conjunction with the Western world OEMs being a little softer, which hurts us there. The second part of your first question was the 10% EBIT margin. The 10% EBIT margin we will defend, and will be even a little higher than that. Why is that? There are two elements to that. In Asia Pacific, one thing is we still have some cost levers we do. The Chinese now, as they're under pressure, they are rapidly working on technical changes. Our technical change is to come down with costs. They are on the run, they're in progress, and we'll execute upon to them, and this will help us to maintain this margin position. That's one point, we also will further strengthen our industrial business, not only in the region Europe and North America, but also China. This is why I'm confident that I stabilize the margin in China, even if the competitive pressure will continue. I hope that's answering your first question. I would say we see a softening of the price erosion. There is still year-over-year 5% price erosion then, almost 6% This kind of the pressure on the pricing side, they will maintain in China. This is a given, right? Because everybody in this industry is under pressure in terms of pricing. The important thing to know is that we have these technical levers to counterbalance this deterioration of the pricing. The other part is, as you well said, is the market softness predominantly of Western world and higher-ranked vehicle segment classes. These two elements are important, and 6% is around about, 5%-6% is price erosion in this basket. The content for the time being, we are talking now still at premature levels, we are producing on sample purposes, but you can calculate that depending on the size of the joint, it's anywhere between, in a final stage, in two, three years, at EUR 100-EUR 250 per joint. The value creation in that term between Stabilus and Synapticon is probably rather 30%-40% is on Synapticon and in the range of 60%-70% on Stabilus. The hardware is still the more expensive part because it requires a lot of precision parts, and the software is pretty much scalable. I'm a little cautious with this number, and I tell you why. This pretty much depends on the volume, right? Because software you do buy a license, then the software do you buy 1 million, 2 million or 3 million or 10 million parts? Then the software costs per part come down significantly, whereas a lot in terms of the mechanical parts is driven by the bill of material. As a harsh estimation, in years from now, EUR 100-EUR 250 would be the cost of such a joint. That's too early to, in detail, talk about it. For sure we do a goodwill analysis every month and every quarter. For the time being, we are confident, and that's why also we passed the third quarter with the goodwill which we have in place. For sure, the reduced sales is something to consider in this equation. These considerations are ongoing, and it pretty much depends on how also the business will develop in the fourth quarter, particularly when it also comes to the humanoids and the effect of the humanoids. We are currently in discussions with various customers and are in the preparation of our outlook. The outlook for next year will be, and this is, we're in just the midst of the budgeting planning, basically go hand in hand to the fourth quarter and the full year result. This is basically something which we will review over the course of the next two months and then come up with eventually changes on it. Pretty much depends on the budgeting, and it's too early to say how the effect over the year will be, because there are a lot of moving elements in there. For the quarter three, we've been confident and had the goodwill on a level which was still good and acceptable. Thank you very much, Yasmin. Further questions? Good. If there are no further questions, that's also understandable because we are in the midst of vacation time, right? Early August. If there are no further questions, we would close the call, and I would wish you a still good summertime, and if you haven't had them, good vacation.