Mobility and flexibility are more central to technological progress than ever before. To deliver the freedom it promises, we need bespoke and reliable energy storage solutions. VARTA takes a three-pillar approach to achieving that aim. We are pathfinders. Curious, creative and courageous. Our industry's think tank. Innovation, numerous patents, custom-made production systems, and international research networks are what make VARTA a technology leader for manufacturers, retailers, and end users. We are German-engineered. 100% reliability, perfectionism, and absolute motivation have been part of our DNA for the last 130 years. VARTA is both partner and advisor to its customers. Excellence is our benchmark. We deliver the best value for money to every business segment by maximizing efficiency and maintaining a lean organization. We're engaging with the future. Reflecting our commitment to being a good corporate citizen, we assume responsibility for the intactness of our environment. Energy efficiency is central to VARTA's efforts in this area. Our networked expert pools are working hard to reduce energy consumption and improve energy efficiency. In everything it does, VARTA is driven by the vision of improving the quality of life for future generations. With the help of these three pillars, we are defining the future of battery technology and making lives more independent. VARTA, empowering independence. Hello everyone, welcome to VARTA's First Capital Markets Day. This is an important time for us. Our day-to-day life is changing, and batteries become more and more important. Devices become wireless. Households store the energy they generated through their PV system, and our mobility becomes carbon neutral and fully electrified. VARTA is very well positioned. We are enabling this transformation with our products, which are the lead in their markets. With this, we are empowering independence. Today, we want to help you to better understand the dynamic of our company. During the event, Herbert Schein, our CEO, will share insights on what will come next from the strategic view. Armin Hessenberger, our CFO, will follow with the financials, and VARTA's CTO, Rainer Hald, will dig deep into the secrets of our technology. To make our Capital Markets Day most efficient for you, let me share some housekeeping items. The three presenters will run their presentation right after this introduction. This will take approximately one hour, so 20 minutes each. We will then have a break for 15 minutes. After that, a Q&A session will follow. Your questions can be sent through the chat function, which you can see online. It's now open. You can add your questions during the presentation. To give as many participants the opportunity to ask questions, we limit the number of questions to two. Two per person. If we get similar questions, we will group them together. In case we cannot answer all questions in the given time, we will send written answers later via email. We will record this event and share it afterwards online on VARTA.com. With this, we are ready to start. Herbert Schein, our CEO, will begin. Herbert, the floor is yours. Thank you very much, Bernhard. Ladies and gentlemen, welcome to VARTA's first Capital Market Day. Today, it is my pleasure to introduce to you our future. Our future that will see new products, new innovations, new opportunities. VARTA is starting the next growth era. Today, I would like to explain our route to success and our vision for the future. VARTA is a technology company with a strong and successful proven growth strategy. We have come from a revenue of EUR 100 million, and will reach EUR 1 billion next year already. Over the last four years alone, we have more than tripled our revenue. CAGR in this period is 53%, and our EBITDA has increased by more than 6x during the same time, and EBITDA margin has almost doubled. VARTA has increased profitability year by year, and this year we target an EBITDA margin of 30%. VARTA is a thoroughly healthy company. Thanks to profitability and our low level of debt, we have the opportunity to continue investing heavily in the lithium-ion business. At the same time, we were able to pay our shareholders a dividend for the first time. Our shareholder benefit from both our investments into future growth opportunities, which leads to larger company valuation and from dividend payments in the future. Armin Hessenberger will talk more about this later. Ladies and gentlemen, this is what we have achieved until today, but more important for you is what can you expect from us in the future? By end of this decade, VARTA will be a multi-billion company. For this, we will need to invest. Our future growth needs to be based on a strong financial foundation. For this, we are already laying down the track towards a future in which we will continue our successful business model and strategy. Success is no coincidence. It is the result of hard work. VARTA's success is based on a clear strategy and a broad portfolio. We have both a very strong B2B and a B2C segment, and all of our business units contribute to our growth and secure our success. The acquisition and integration of the consumer business was a massive effort for us, and it was a really good decision. The focus on brand business clearly pays off. The segment household batteries today represents around 40% of our net sales and around 25% of EBITDA. In our lithium-ion solutions and micro batteries segment, we see a continuing strong position in the global market for hearing aids. Even here, rechargeable hearing aids see an increase in demand. Lithium-ion batteries have the highest growth potential. We have three strong lithium-ion product groups. With CoinPower, we have a share of 50% in the TWS market for lithium-ion coin cells. This market will continue to grow. I will talk about it later, but let me tell you, the premium manufacturers will start bundling smartphones with TWS. We will be ready for this, and there will be additional attractive markets where we plan to introduce CoinPower. We also know that the new standard for Bluetooth 5.2 will be introduced next year. We expect chipsets for this standard by mid-2022. These chipsets will have a better audio compression and therefore need less energy for transmission. Same quality, but half the power. This supports the trend towards smaller batteries, higher performance, and longer-lasting cells. A standard capacity with 65 mAh then achieves 10 hours runtime. We develop batteries with only 35 mAh hours, which then equals a runtime of five hours. This is a good thing for us. The smaller the battery, the better for us. Our housing technology is beneficial for smaller form factors. In the market for tailored battery solutions, our strong growth continues. We are seeing more and more projects coming in, and we are entering new and very promising markets like e-mobility in the e-scooter and e-motorbike segment.The lithium-ion solutions and micro batteries segment represents around 60% of our net sales and around 75% of EBITDA. VARTA is benefiting in this segment from economies of scale and proves that our new technologies are very profitable. This is the proof that our strategy is working, and the world has become mobile. The desire for freedom, for independence, for mobility is a key feature of life in the 21st century, and it will continue and intensify. To meet this desire, the world needs even more powerful batteries with longer service life that can be charged faster. CoinPower proves this point. It is the battery that made the latest development in TWS possible. When we developed CoinPower, the premium TWS manufacturers waited for a battery that would allow them to include advanced features into a small design. CoinPower was what they were looking for. Today, we mass produce CoinPower in highly automated and highly efficient cell factories in Germany. The majority of them is shipped to Asia, by the way, not the other way around. Just recently, we opened the new facility in Nördlingen, which features an additional 15,000 sq m of production floor. With 60,000 sq m in total, we now have the infrastructure to produce up to 400 million CoinPower cells per year. This is what I meant when I said that VARTA is ready for bundling of TWS with smartphones. We now have the ability to deliver the amount of coin cells needed fast. We have become technology and innovation leader in lithium-ion technology. We secure our leading position with strong patents. We are not resting on our laurels. We stay highly innovative and have already increased energy density in our CoinPower cells by 30%. We will add another 20% by end of next year. We are ahead of our original plan. We will triple production speed to produce even better batteries in an even shorter amount of time. This also means that we will be able to reduce costs by faster and more efficient automated production. Despite the competitive price development in the market, we are therefore very confident to keep the relative profit contribution margin constant. I have said before that the world needs better and more rechargeable batteries in all segments. The chart you see shows tremendous growth in the lithium-ion market until the end of the decade. The main growth here comes from e-mobility. This lithium-ion technology will be driven by the automotive industry. This is the reason why VARTA must be part of the e-mobility sector, and we are ready for it. CoinPower enabled us a highly successful and highly profitable entry into the lithium-ion market. It proved that our strategy was correct. It proved our market competence. It proved that we can actually build highly efficient lithium-ion plants in Germany. CoinPower was just the spearhead. Today, we are preparing the pilot production for our ultra-high power lithium-ion round cell, V4Drive, in the 21700 format and will start mass production soon. When we developed V4Drive, we asked ourselves: What will tomorrow's battery look like? It must have more power, and it has to be charged even faster. It has to remain efficient, even at low temperatures. V4Drive is the answer to all these questions. V4Drive can be charged in just six minutes. It is possible to charge it up to 80% in just three minutes. After fast charging, our test shows that even under these condition, it stays below 35 degrees Celsius. This improves service life as well. It also has an improved performance at low minus temperatures. In cars, V4Drive in the 21700 format is ideal for use as a booster or for better recuperation. It can be combined in 48-volt systems and other hybrid concepts. The field of application also extend to home and garden and drones. Going back to our lithium-ion strategy, we said that CoinPower was the spearhead into this market, and that we have very successfully entered this market. With V4Drive, we have taken the next step in offering a unique ultra-high power lithium-ion round cell that already meets high interest on customer side. We are already thinking one step ahead. We will transfer the technology used in the V4Drive in the 21700 format to even larger cell formats. Innovation is the driver of our success. With every step, with every innovation, VARTA has opened new opportunities and has entered even larger markets. The selection of the target markets is strategic. We go where we can make a difference. With hearing aid batteries, we laid down the strategic approach that we have adapted for all our success stories. We choose areas where we can take leadership position because we deliver superior products. Innovative battery solutions which makes a difference. Devices will be better if they are powered by VARTA. Hearing aid batteries were the beginning. We secured a leadership position in the market through innovation. We then combined our expertise we had gained from micro batteries with lithium-ion technology to introduce CoinPower and turned it into the next success. Now we continue with V4Drive in the 21700 format, which once again is based on our CoinPower technology, combined with new features. The next step is the production of cells in larger formats for the use in battery electric vehicles in the performance sector based on the V4Drive technology. This means excellent power features. This is not all. We will offer complete battery solutions for the automotive sector, tailor-made to customers' demand. These batteries can be integrated in drive concepts. Today, we already have a high competence in this area due to our expertise in the solutions segment, which we will extend further. There is more to come. We see the future markets in the field of battery electric vehicles as follows. OEMs of value vehicles will rely mostly on prismatic or pouch cells. OEMs for premium cars will prefer prismatic cells and to some degree, pouch or even round cells. With our innovation, the premium OEMs can differentiate themselves in the performance segment by choosing round cells. This is the segment VARTA is targeting. We believe that our round cell formats are excellent alternatives for building battery electric vehicles in the performance sector due to their unique features. An important one is that V4Drive has proven advantages in the propagation test. When one cell is ignited, it will not light up other cells, a security feature increasingly demanded by the automotive industry. The key advantage, however, is V4Drive's performance. VARTA is putting performance into e-mobility, ladies and gentlemen. Today's energy batteries provide automotive engineers the ability to build cars offering a long driving range. V4Drive will offer performance qualities on top. This makes it ideal for the performance sector of the automotive industry. An electrical car powered by V4Drive cells will be able to cover large distances and at the same time offer more dynamic driving, and it can be charged much faster than it is possible today. It will give drivers of electric cars more freedom and flexibility in driving. By the end of this year, we will decide on the scale at which we will end the production of V4Drive, depending on the demand we have confirmed by customers by then. We have proven that our business model rests on realistic and reliable estimates. We have proven this with CoinPower, where we now have the infrastructure to produce up to 400 million cells per year. Had we done the same with V4Drive, we would today have a production capacity of several gigawatt hours per year. There are a lot of synergies between V4Drive and CoinPower, as many steps in production are same or similar, and we want to use these synergies. All of this means that we will have to massively expand our facilities. We have a vision of where we want to go. Let me show you. What you have just seen here are our existing plants. You have seen the new buildings which we have moved into this year. Our vision is to further expand the sites by creating a multi-gigawatt factory. We will decide when we have secured commitments by customers. Ladies and gentlemen, while we are staying highly innovative and continue to grow, we have a clear sustainability concept for the future. We at VARTA take a holistic approach to optimize the carbon footprint of the battery sector. A series of measures will ensure this. Our new facility in Nördlingen will be carbon neutral by end of next year. All our cell factories are running on green electricity since the beginning of this year. We have reduced resource consumption over the last years. Since 2005, we have reduced electricity per cell by 9% per year, waste by 10%, and wastewater by 15% per year. We further reduced the use of problematic raw materials in our cells. By 2027, all of our production in Germany will be carbon neutral. In parallel, we are already working on the decarbonization of our supply chain. I said that we look at sustainability holistically. For this reason, we must include recycling in our calculations. From our R&D activities, we know that cells can be recycled and the raw material can be used again. The good news is this recycling process is profitable from what we know today. This means that all cells will have a value even if their lifespan has expired. The first step is to dismantle the batteries to recover the cells for recycling. Battery cell recycling could be an option for VARTA's value chain in the future, depending on upcoming regulations and demands from our customers. Ladies and gentlemen, I have promised to give you insights into why VARTA is a successful company. I have so far talked about profit, about growth, about innovations. All of this would not be possible without the people who work at VARTA. I am often asked, "How do you want to compete with the big Asian lithium-ion companies?" My reply is always the same. They may have more resources. We have the better company culture. Our will to win is at the heart of this company culture. We want to be the best always. In order to be the best, we must trust each other. Without trust, there is fear, and fear kills innovation. Let's hear from our team. [Non-English content] [Non-English content] [Non-English content] [Non-English content] [Non-English content] [Non-English content] [Non-English content] [Non-English content] [Non-English content] [Non-English content] [Non-English content] I feel honored to be working with such a great, motivated team who give their best every day. I trust in their innovative strength, their ideas, their opinion. Together, we have led VARTA to where we are now. We have proven to be top performers in our field, and we will continue to explore for a better tomorrow. The world needs better solutions for the future. VARTA is the place where we develop and build them. Thank you very much for your attention. I will now hand over to Armin. Armin, please. Thank you, Herbert. Ladies and gentlemen, also from my side, a warm welcome to our Capital Markets Day. In my presentation, I will cover the basis of VARTA's success and how we will replicate this know-how into the future expansion of the large rechargeable lithium-ion batteries. Herbert Schein presented the impressive development of VARTA in the recent years, especially since the IPO. However, the basis for this development was made already long before. The spirit of VARTA is working together as a team to develop better batteries, which enables the industry to develop better products. The success started at the beginning of the last decade. At that time, VARTA was one among many players in the hearing aid battery business. Through innovation in the battery design, in the electrochemistry, together with a highly efficient and automatic production technology, by the way, which is based on our own knowhow, VARTA was able to increase its market share to more than 50% and still holds this share today. In 2017, when VARTA went public, the primary batteries based on zinc-air technology were the basis for the success. At the same time, the foundation for the development of lithium-ion technology and CoinPower batteries was built. Indeed, the development, the R&D of these batteries already started some years earlier and long before the IPO. When the product was finally presented to the industry, it turned out to be what the industry was looking for. These coin-shaped batteries provided much more energy in smaller size than the technology before. It had the ideal shape to enable the new generation of true wireless headsets with features such as active noise cancellation. Especially from 2018 onwards, the sale of these products were the basis for the success in increasing the net sales, EBITDA, and EBITDA margin. Since the beginning, VARTA has produced almost half a million CoinPower cells. With that experience VARTA has gained in producing small lithium-ion cells, VARTA is now transferring this knowhow into the production of larger rechargeable lithium-ion cells. Here again, VARTA's approach is to provide cells to the market with a better, with a different property than what is available on the market today. Herbert has already highlighted this, and Rainer, our CTO, will provide more details later on. The high cash flows VARTA has generated so far with the primary zinc-air batteries, with the consumer business which we recently bought, and now with CoinPower, supports the cash flow to finance the R&D and industrialization of the large lithium-ion cell. The investment demand in the future can be fulfilled as well. I will come back later on that topic with a separate slide. As you see, VARTA will do the next steep increase in sales with the large lithium-ion cell once the production capacity here is installed. Let me give you some details on the development of the profitability of VARTA with the next two slides. One of VARTA's success parameters is its efficient and highly automated plants here in Germany. How do we know that? Simply because a lot of our products, and especially CoinPower cells, are shipped to Asian countries. This means that with our technology and automatization, we are highly cost competitive, also compared to our Asian counterparts. We are a global innovation leader. We are setting new standards in battery performance. Here you see the development of the net sales per employee for the VARTA Group since 2014. While VARTA started with net sales slightly below EUR 100,000 per employee, the company by 2020 was able to increase this by more than 50% and now registers net sales of more than EUR 150,000 per employee, and this while still being in a ramp-up phase. The figure 2020 here is without consumer business, which was bought in 2019, so it shows only the organic growth and performance. At the same time, VARTA managed to increase the adjusted EBITDA per employee by roughly five times. The adjusted EBITDA per employee now reaches more than EUR 50,000. In 2014, it was slightly above EUR 10,000. Again here, the figures in 2020 without consumer business. Similar to that is the development of the personal expenses per CoinPower sale. Over the last four years, the costs were reduced significantly by more than 50%, and this was achieved despite still being in a ramp-up phase. VARTA is able to generate economies of scale and productivity gains even in such a period. With this decline of material costs and fixed costs, we managed to increase our adjusted EBITDA margin by 19 percentage points. You see the comparison between 2017 and 2020. In the first column, the bar represents the material and fixed costs, including personnel. As you see, nearly 50% were material costs and slightly above 50% were the fixed and the total personnel costs. Compared with the base in 2017, VARTA was able to reduce the material share to 36% and the fixed costs to 45%. This resulted in a higher adjusted EBITDA margin of 19 percentage points. If we look into the development of the large lithium-ion cell, and here you see this just from the point of the view of the large lithium-ion cell, we intend to start with a 2 GWh production. The final investment decision on this will be taken by the end of this year. Here we are sure to be able to provide a similar development as we have achieved in the period 2017 to 2020 with the VARTA Group. Through economies of scale and efficiency gains, we intend to again increase the adjusted EBITDA of this large lithium-ion business as we expand our business from 2 GWh- 10 GWh production capacity. Compared to the small lithium-ion cells, we will see a higher share of material cost and a smaller fixed cost share. Moreover, there is another analogy we can draw when we look into the investment revenue relations. We consider the investment cases of the small and the large lithium-ion cells to be very similar, as three out of four main production steps are practically identical. Consequently, the investment demand will not differ a lot. In the past, we managed that for every euro of investment into the small lithium-ion cell, we generated additionally yearly revenues of EUR 1 with a range of ±EUR 0.15. For the large lithium-ion cell, we consider more or less the identical relation. EUR 1 investment generates EUR 1 revenue. Now let me come to the financing of the investments. In order to build up the production capacity, which is necessary to become a multi-billion company, VARTA has to invest. On this slide, you can see that VARTA can invest up to EUR 2 billion within the next four years. On the one hand, VARTA generates a strong cash flow from the existing business. We calculate that in the next four years, we can generate a cash flow of around EUR 800 million. Additionally, VARTA can increase its debt levels even further. In the half year statement 2021, VARTA has reported net debts of only EUR 100 million, which results in a net debt to EBITDA ratio of less than 1x. In case VARTA increases its net debt to an EBITDA ratio of 3x, which is shown with the second bar of the graph, VARTA would have the ability to raise another EUR 550 million. This calculation is based on the reported EBITDA of 2020. An increase in reported EBITDA in the future would further increase the debt capacity. All in all, this would give VARTA the possibility to invest significantly more than EUR 1 billion. Moreover, in case VARTA reaches prepayment agreements with future customers, what we have successfully negotiated also in the past, we could generate another additional funds for further capacity investments. Ladies and gentlemen, VARTA has the strength to become a multi-billion euro company by the end of the decade. VARTA has already proven in the past that it can develop new and better batteries, and by doing so, develop new profitable business. This gives us the confidence that we can replicate the great success we had with our small lithium-ion cells, also with our large lithium-ion cells. With this, let me hand over to Rainer. Thank you, Armin. Ladies and gentlemen, as we have just heard and seen, VARTA is starting the next growth era. You have learned about our vision, about our growth, and our lithium-ion strategy, and about our financial planning to reach our goals. It is my pleasure as the CTO of VARTA to take you through the technologies that serve as the backbone of our success, technologies that are leading and which secure us our advantage in the battery industry on a global scale. The world needs better, and most importantly, rechargeable batteries. First, because people demand ultimate flexibility and mobility without having to sacrifice any of the comfort they have become used to. Second, because an increasing number of devices today are powered by integrated batteries. At VARTA, we have proven that we are able to deliver the technology and products needed to empower our customers. With our help, they are able to build better and more powerful devices. We have also proven to build upon product innovations and grow consecutively by entering new and larger markets. Herbert has shown you already that innovation follows innovation at VARTA, and that this is the driving force of our success. We do not rest. From hearing aids to CoinPower, to V4Drive in the 21700 format, to even larger cell formats and complete battery packs for the future of electromobility. VARTA is continuing to offer what the world needs, better and rechargeable batteries. I would like to explain this with our CoinPower cells. Our technologies build on each other. We have transferred the innovative foil-seal design of the hearing aid batteries to CoinPower and combined it there with other further innovations. We are now doing the same with V4Drive. We are transferring CoinPower's know-how to V4Drive and adding further innovations. What is it then, ladies and gentlemen, that makes us successful? The three key elements are, first, in-house machine and tool construction and strong process development. Second, high vertical range of manufacturing. Third, the knowledge of how to bring high-quality products into mass production. VARTA has a high level of vertical integration and keeps the entire battery manufacturing process in hand. We are not just experts in electrochemistry. We design and manufacture many of the critical machines ourselves. We know exactly where processes can be optimized, and we can then implement the optimization quickly. We have a clear roadmap for our products. With CoinPower, we currently have the A3 version and for new products, the A4 version, which is already in production. We are already working on the next generations and further improvements. Our A series features NMC on the cathode side and carbon on the anode side. From A4 version onwards, the cells will feature higher charging cutoff voltage of 4.3 volt and up to 3C fast charge capabilities. The B series will switch to a silicon-dominated anode. The advantage is that this cell type will have an increased energy density, however, at the expense of a limited cycle life. With the C series, we will see the introduction of LCO on the cathode side. It will feature a charging cutoff voltage of 4.45 volt and up to 5C fast charge capabilities. This means the series will feature quite high energy. As you can see, we have the fitting technology for every customer and every application. Especially with the B series, we are the drivers of technological innovations. VARTA's product innovations are based on combinations of mechanical design optimizations and energy and performance-enhanced electrochemistry. This can be illustrated by our V4Drive cell in the 21700 format. There is a clear roadmap to increase gravimetric and volumetric energy density. We have mechanical measures like thinner materials and further innovative design improvements in order to have a better volume usage and more space for active materials, but also weight reduction. On the electrochemistry side, we will introduce improved cathode materials as well as silicon for the anode in combination with advanced electrolyte recipes. For the silicon-based anodes, a so-called pre-lithiation will further increase the energy density by 40% and improves the cycle life by more than 100%. We work here on an efficient roll-to-roll solution, which can be implemented into the existing manufacturing process. I have already mentioned that the V4Drive has unique features. I would now like to explain what makes this cell technology special. V4Drive has the lowest internal resistance of all lithium-ion cells in a round cell format. This is a unique feature. As you can see in this chart, the third generation of cylindrical cells is currently in production by our competitors. Our V4Drive today already has significantly lower internal resistance than the next generation of our competitors' cells. This offers us a cutting-edge competitive advantage. In this comparative rendering of our cell and that of a competitor, you can see the heat dissipation. During fast charging, our cell heats up only slightly and remains within the permissible temperature range. Due to the innovative design, the heat generated dissipates quickly. The current and temperature distribution in the cell is very homogeneous, which is important for a long service life. However, this is not where we stop. As you have learned from the previous presentations, the next step will be larger lithium-ion round cells, again, based on the V4Drive technology. As you can see here, the larger formats will not only feature increasingly lower internal resistance, but at the same time, increasing levels of energy. In short, the larger the cell, the higher the energy and the lower the internal resistance. This is why the larger formats are ideal for powering battery electric vehicles, especially in the performance sector of the premium segment. A rising number of innovations mean that we are increasing our patent portfolio. Over the last 10 years, we have secured more than 400 patents in the VARTA Group, and that's only the relevant ones. We have more in the application process to ensure that we can secure our intellectual property and thus our investments. We only apply for patents where we can trace any potential infringement. In all other cases, we protect our know-how through proprietary machine and process design. Our patents are strong, and we defend them. The cases against patent infringements are being fought before court in the U.S., the biggest market for TWS. While court decisions there are currently still delayed due to the effects of COVID-19, we are confident to win the pending cases. The same goes for the cancellation orders we have been faced with. We will see decisions in our favor, just as we have seen in the past. Innovation as the DNA of VARTA stretches beyond product innovations. We have set ourselves an ambitious goal. We will triple our production speed. How will we do this? By innovations along the complete production process. Some examples: with the introduction of the new winder generation, we have a specified output of 250% of the existing winder. Highlights and main improvements are a fully automatic splice unit for anode, cathode, and separator, more than 60 servo axis to synchronize all the movements to reduce the cycle time, and a flying cut on the dynamic electrode guiding unit. We also developed a new generation of assembly line. Its key features are 300% output compared to standard assembly line. The main improvements here are 100% remaining electrolyte weight measurement, self-regulating adjustment of the electrolyte dosing amount, and a cell transport system without any size parts. A new machine in process flow will further assist in reaching our aim. We are combining three production steps, leak testing, X-ray scanning, and pick and place, in one machine. The anode, cathode, overhang measurement data and the X-ray pictures of each single cell are stored in innovative cloud solutions. We again tripled the output versus the existing process. During the product development phases, we look at the possible production processes as well as the machine technology. Process development begins as early as possible in parallel with product development. This is necessary in order to minimize possible risks in production already in the early phase of the development project. Taking a look at CoinPower, there are 52 production steps necessary to produce one cell, from producing cup and lid, to electrode production, to winding, sealing, and so on. At VARTA, we developed a process where half of these steps are completed in only one machine. Process technology does not stop at hardware. In order to optimize our production processes, digitalization is raising potentials through connected processes. Our production lines will be faster and the products better if processes are monitored by data-driven analysis and optimized by artificial intelligence. Our digital vision is driven by the conviction that connected processes lead to database-based decisions, which are faster and more precise. Currently, we are in a process where we digitally acquire essential process data. By 2025, we will have key processes fully digitalized, and by 2030, we will see end-to-end digitalization of the processes in a digital twin. This means that we can have every process step in a digital model that is controlled by artificial intelligence. The aim is a fully networked process where data stored in the cloud will lead to a self-regulating process. We will start using AI already in setting up the production for V4Drive. Digitalization, in short, means that we are decreasing costs in production while we raise efficiency. We are accelerating the complete production process using data and are delivering higher quality to our customers. The world needs better and rechargeable batteries, ladies and gentlemen. VARTA is the place where we develop and produce them now and in the future. Thank you very much.