Okay. It's 4:00 P.M., I'm told, so good afternoon and welcome to the annual general meeting of Chr. Hansen Holding. My name is Dominique Reiniche, and I'm the chair of the board. It's a pleasure to be once again able to welcome shareholders and stakeholders in person and also on the live stream in parallel. Also, a warm welcome to Anders Ørjan Jensen, who has been chosen by Chr. Hansen Board of Directors to be the chair of this AGM. Anders is a lawyer and a partner at Gorrissen Federspiel Law Firm, and in this capacity, he has a long-standing professional relationship with Chr. Hansen. And Anders, it's a pleasure to have you with us today, and I leave you the floor. Thanks a lot, Dominique. And as you all know, as chair, it's my initial role to establish whether the meeting today is lawfully convened and able to transact business around the items on the agenda. And the articles of the company prescribe that the convening notice must be sent out three to five weeks before the meeting, and that is certainly satisfied because the notice went out on the 28th of October. And all the ways that the company was meant to send it out has also been fulfilled. It has been sent out through Nasdaq and also as letters to those shareholders that have so requested, and it's also been posted on the company's website. As to the content of the notice and the information presented to shareholders, I have in advance checked all the information and have concluded that it satisfies the requirements in the Companies Act and the articles of association. As to the location of the general meeting, as you may have seen, the company's home domicile is now under construction, reconstruction, or something is being built there, so we certainly couldn't have the meeting there. So fortunately, the articles allow us to have the meeting more generally in the capital region of Copenhagen, so that's satisfied as well. We have a webcast running, so you all know, that allows other shareholders that are not able to participate today to follow the meeting, and also other parties will be able to follow the meeting. As you all noticed, or you may have seen an email that due to the new COVID-19 restrictions, this site here was required to request corona passports, and thank you all for bringing that along. There are a couple of shareholders that were not able to present that at the entrance, and therefore there's a small meeting room over at the company's site where we have a couple of shareholders sitting and following the meeting. They will be able to ask questions virtually to us, so it might be that we have a short pause where I will read out those questions in case they arise, but it's just so you know. As you've all established also by now, we are speaking in English here, and that is completely consistent with the articles, and it's something that the company has been doing for a couple of years by now. There is interpretation available. As you saw outside, there are some headphones that you can use, so if any of you need interpretation into Danish, you can go out and pick it up there if you have not already done so. My conclusion as to whether the meeting is lawfully convened is that that's certainly the case and that we can go ahead. Looking at the agenda, which is behind me, it is a standard agenda for general meetings, and then there's one proposal from the Board of Directors regarding indemnification arrangements. All of the proposals on the agenda can be adopted by a simple majority, and there are no quorum requirements. That means that the general meeting here today can pass resolutions on all the items on the agenda. I will later on, when we get past the initial presentations, give you more information about the participation here today, but for now, as we have customs to do here at Chr. Hansen, we will take the initial subjects in conjunction, meaning that the first four items will be dealt with and presented at the same time. So Dominique will be the first one taking the floor here, presenting the report of the company's business for the past year, and then Mauricio will present highlights from the annual report, and Dominique will then come back and comment on various topics, including board diversity, the board's self-assessment, and also bring out some highlights from the remuneration report. After that, I will open up for the debate, and I will give you a few practical details when we get there. So Dominique, the floor is now yours, and I kindly ask you all to check that your mobile phones are on mute so we can have a peaceful presentation. There you go. Anders, thank you very much. So as planned, the financial year 2021 marked an important milestone in the history of Chr. Hansen because it was one year of becoming a focused pure player in bioscience. And as a consequence, it has been a transition year for the company where the focus has been on recent portfolio changes. In March 2021, the natural colors business was successfully divested to EQT, and I'm pleased to report that both the integration of UAS Labs and HSO Health Care are largely completed. Both of them are now contributing positively to the growth in our human health business unit. Following the acquisition of Jennewein, a new HMO division has been successfully formed, and while we have faced some initial difficulties, we are very confident about the long-term market development, and we are excited by this emerging space where Chr. Hansen can help bring infant formula closer to breast milk. As I said in my introduction, all of these portfolio changes reflect the ambition to transform Chr. Hansen into a differentiated bioscience company. From a strong history of pioneering science, Chr. Hansen has the ambition to bring products to market that enable healthier living and greater sustainability. The pandemic has triggered a renewed focus on immunity and healthy living, and Chr. Hansen is uniquely positioned to be a sustainability enabler for food producers, farmers, and the health industry, providing natural microbial solutions from farm to fork. As we, as a global society, are progressively recovering so-so from the pandemic, we are faced with another very big problem that is climate change. The conclusion from the most recent report published by the UN's climate panel, so-called IPCC, is alarming. The report underscores that climate change is irreversible. Business as usual is no longer enough. We see how consumers are increasingly looking for sustainable diets that offer both nutritional benefits and healthy lifestyles, and to drive this transition, Chr. Hansen has a unique product offering that enables its customers to prevent food waste, produce more with less, reduce the need for antibiotics and pesticides, and drive the plant-based revolution. Microbial science is an important part of creating a more sustainable food system. Now, let's look at this year's financial performance in light of the prolonged impact from COVID-19 and the focus on our portfolio changes. First, I'm satisfied to report that Chr. Hansen delivered on its overall guidance for the year, although, like you, I am disappointed by the share price development, and I will come back to that later. We reported a revenue of EUR 1,077 million delivering 7% organic growth. This was in the upper end of our original guidance range of 5%-8%. The largest business area, which is, as you know, food cultures and enzymes, grew by 8% and was ahead of expectations. Health and nutrition grew by 5%, which was below expectations as the human health business experienced adverse market conditions in the second half of the year, in part due to destocking at key customers with dietary supplements. Revenue from the acquired businesses came in at EUR 105 million, somewhat below our original expectations of EUR 130-EUR 140 million. The performance was impacted by our new HMO business, as I said before, which fell short of expectations as the market developed slower than anticipated, essentially due to COVID causing a delay in regulatory approvals. Reported EBIT before special items for the year was EUR 298 million. The group EBIT margin before special items was 27.7% and in the upper end of our guidance of 27%-28%. Lastly, free cash flow before acquisitions and special items was EUR 196 million, which was significantly stronger than our original guidance of EUR 120-EUR 160 million. As regards dividends, an extraordinary dividend of DKK 6.54 per share, or in total DKK 860 million, was paid out in May this year following the natural colors divestment. The payout equaled a normalized dividend of 50% of profit for fiscal year 2020, and this was in line with the decision at last year's general meeting to postpone a dividend to prudently manage the level of debt following the acquisition of HSO Health Care, UAS Labs, and Jennewein HMOs. The successful divestment of natural colors reduced the company's leverage from an elevated level of 3.1 times net debt to EBITDA before special items during fiscal year 2021, and we are back to 2.3 times financial leverage, which is consistent with a solid investment-grade credit profile. For fiscal year 2021, the Board of Directors proposes an ordinary dividend of 6.54 DKK per share, or in total DKK 860 million, which is exactly in line with last year and represents an increase in the payout ratio from 50% to 58% of the profit for the year. In terms of share performance, the Chr. Hansen share closed the year at DKK 581, which represents a decrease of DKK 135 per share, or 18% down compared to last year's closing price. So clearly, a disappointing performance, which was below both our peers and the C25 index. But no doubt that we aspire to deliver a stronger share performance, and we are fully convinced that with our recent portfolio changes, we are building a stronger company, a company ready to deliver industry-leading profitable organic growth, and this will be enabled by a relentless focus on innovation, efficiencies, strong customer relationships, and needless to say, very motivated and passionate employees. Let me now touch upon the guidance for the coming year. Considering the high macroeconomic uncertainty and continued COVID-19-related disruption, we expect organic growth for 2021-2022 in the range of 5%-8%. Food cultures and enzymes are expected to deliver solid mid-single-digit organic growth throughout the year, while the organic growth in health and nutrition is expected to be supported by the businesses acquired in 2020. The EBIT margin before special items is expected to be in the range of 27%-28%, as cost synergies from the probiotics acquisitions and production efficiencies will be offset by continued ramp-up of activities post-COVID-19, progressive investments into the HMO business, and to a lesser extent, inflationary pressure on certain input costs. Moving on now to our free cash flow guidance, it is expected to be around € 140-€ 170 million. In connection with the announcement of our guidance for fiscal year 2022, we also updated our long-term financial ambitions to reflect the latest portfolio changes, the sale of natural colors, and the acquisition of Genevine. The update confirms the original ambition of industry-leading organic growth margin progression and strong cash flow generation during the strategy period that we aim to deliver. So in more detail, mid to high single-digit organic growth averaged over the period, an increase in our EBIT margin before special items over the period with production efficiencies, scalability benefits, and acquisition synergies that will be partly reinvested into the business. Average growth in free cash flow before special items to exceed average growth in EBIT before special items. Financial performance and steady growth have always been a cornerstone for Chr. Hansen's continued success, but over the past decade, our commitment has grown, and today, sustainability and ESG are vital components of our commercial success and an integral part of Chr. Hansen's purpose, culture, strategy, and products. Chr. Hansen is committed to deliver a sustainable profit to the benefit of all stakeholders. We, of course, remain committed to continue to track now how much of our revenue supports the world's most pressing challenges, and we are proud to say that 82% of Chr. Hansen's revenue directly supports the UN Global Goals, especially goals number two, three, and 12. Chr. Hansen has worked strategically with sustainability for many years, but there is still much to be done in order to demonstrate our ESG commitment, so we have adopted a number of actions in the past year. In recent years, investors, regulators, and proxy advisors have clearly articulated the need for ESG oversight at board of directors level. So Chr. Hansen's board of directors fully supports this, and we see it as our fiduciary duty to represent the interests of the company shareholders as well as other stakeholders. The board of directors, therefore, decided to enhance its oversight of ESG starting from this financial year. This direct stewardship has been implemented at board level as well as at committee level. An annual wheel for ESG oversight has been put in place to ensure that topics like climate risks and opportunities or science-based targets will be regularly reviewed by the board and in relevant committees. We will evaluate this setup over the coming years. Chr. Hansen is committed to push for social equality through a strategic focus on diversity and inclusion. This is not just the right thing to do. A diverse and inclusive workplace is simply good for the business. So we want employees to feel acknowledged for their uniqueness regardless of age, gender, ethnicity, nationality, etc. To establish such a workplace, we believe that what gets measured gets done. Let's look at some of the progress we have made in the past year. With the launch of Chr. Hansen's 2025 strategy in August 2020, a pay link between executive remuneration and ESG targets has been established. This means that shared non-financial KPIs, including ESG elements like diversity and environment, constitute 20% of the corporate leadership team's short-term incentive. Now, having worked for many years on getting more women in directors-plus positions, I am happy to share that we are above target for women in directors-plus positions. Chr. Hansen now has 32% female leaders in senior management, and this demonstrates, of course, the corporate leadership team's focus on driving significant progress. Fairness and transparency in the remuneration of our employees are key in creating an inclusive workplace. After a few years of maturing our approach and improving the quality of our internal data, we have reported on gender pay for the first time. So the number we report represents the difference in average earnings between the female and male workforce in countries with around 250 employees or more. This data constitutes approximately 80% of the total workforce. The analysis showed that we currently have an average gender pay gap of 6.2%. As gender pay is a new diversity and inclusion target, there are a number of points to address, of course, to reduce this gap, and I can tell you that Chr. Hansen is firmly committed to this agenda for the coming years. Now, let me provide a status on the two proposals that we received, as you will remember, at last year's annual general meeting from Akademiker Pension and LD Fonde, both of them ESG-related. The shareholders proposed that Chr. Hansen adopts climate reporting in line with the recommendations of the TCFD, which is the task force on climate-related financial disclosures. This proposal was rejected last year, not at all for a lack of relevance, but due to other priorities with our climate agenda. As you will remember, I made it clear at last year's AGM that Chr. Hansen supported the principles behind the TCFD recommendation and that we had already shared a lot to assess the steps needed for their implementation. So in spring 2021, I was very pleased when we officially communicated our support to the TCFD. Since then, we have assessed the climate-related risks and opportunities that impact Chr. Hansen's business, and to ensure strong governance and solid processes, we have chosen to integrate TCFD into our enterprise risk management framework. In this year's annual report, you can read about our progress, and we expect to fully report on these recommendations in our 2021-22 annual report. Akademiker Pension and LD Fonde also propose the adoption of country-by-country tax reporting. In Chr. Hansen, we view tax governance as an important and integrated part of our business operation. During fiscal year 2021, we have made an update of our tax policy, which now also includes elaborate details on our tax governance structure and how our tax model supports our ambitions as a sustainable company. A review of tax processes in respect to the Global Reporting Initiative, also called GRI 207 framework, concluded that it is well-suited for a balanced approach to tax transparency, including the country-by-country data points. So I'm pleased to share that the Chr. Hansen Board of Directors has approved to prepare and publish a GRI 207 report as of the next financial year, 2021-2022. I talked earlier about the urgent need to tackle climate change, and beyond the positive handprint, not footprint, but handprint of Chr. Hansen's microbial solutions, we also see it as our corporate responsibility to decarbonize our own footprint. So an ambitious climate program under the name Think Climate Naturally has been launched, and with these specific science-based targets too. So now Chr. Hansen has embarked on a decade of climate action. You can see on the board the concrete targets. So in line with the recommendations of the Paris Agreement, the company commits to reduce emissions across Scope 1 and Scope 2 by 42%, a target which is limiting the global temperature rise to 1.5 degrees Celsius. Let me briefly explain that Scope 1 covers direct emissions from our own operations, while Scope 2 covers indirect emissions associated with our energy consumption from the grid. Emissions across Scope 1 and Scope 2 make up 13% of the total GHG emissions calculated in our fiscal year 2020 baseline. But in our eyes, we have to go beyond Scope 1 and Scope 2 emissions and take a broader responsibility across the value chain. Therefore, we have set a 20% reduction target for what is referred to as Scope 3 among climate professionals. Scope 3 is more complex because it covers the direct emissions associated with activities across our entire value chain, upstream and downstream, from the sourcing of raw materials to the transportation of products or employees commuting, to give you a few examples. And this Scope 3 makes up 87% of our total emissions. Let me outline something very important. In addition to the programs that we will drive ourselves within Chr. Hansen, to achieve the Scope 3 reduction target, we also need future technological advancements and a general maturing of the producer-supplier ecosystem. So this is vital to succeed. So these are truly ambitious targets for the organization, and in order to succeed, all employees must adopt a climate mindset. So, for instance, as a company, we will have to integrate climate factors in the innovation pipeline, in our purchase decisions, and in our dialogues with customers and suppliers. It will not be an easy job to decouple Chr. Hansen's carbon footprint from our own economic growth, but we have a responsibility to act and thus prepare Chr. Hansen for a low-carbon economy. Let me now invite CEO Mauricio Graber to talk about strategic highlights. Mauricio, the stage is yours. Thank you, Dominique, and good afternoon. I'm Mauricio Graber, CEO of Chr. Hansen. In August 2020, we launched our 2025 strategy. Overall, we are making good progress in transforming Chr. Hansen into a fully focused bioscience company based on our unique microbial and fermentation technology platforms. As Dominique highlighted, we have delivered on our guidance despite the challenges of COVID-19 and the portfolio changes. That said, I am the first to recognize the poor performance of our share price during the last financial year. We will continue to focus relentlessly on commercial execution and creating value from the acquired businesses while actively managing our cost base and advancing our 2025 strategic priorities and goals to deliver our results for this financial year, as well as our long-term financial ambitions. Through the acquisitions we have made recently, we have built a more balanced business globally between food cultures and enzymes and health and nutrition, reconfirming the strategic rationale for these acquisitions. Driven by our ambition to develop and expand the global probiotics market, we have diversified and broadened our human health offering. By acquiring UAS Labs, our largest acquisition, we have expanded our global leadership in probiotics, strengthened our strain-to-solution manufacturing capabilities, and online sales presence for more solution selling going forward. This has increased our flexibility and capacity to produce and has also created a better balance in our geographic footprint. The acquisition of HSO, an Austria-based business-to-business company specializing in probiotics for human health, will also strengthen and expand Chr. Hansen's global microbial platform. HSO has been a leading player in the women's health segment, which has demonstrated a very fast growth throughout the globally recognized portfolio. With the addition of the Astarte strains, we will be able to deliver innovation to a much larger market faster. Next to these acquisitions in the probiotic space, we have also extended our microbial platform by the addition of HMO to our technology portfolio. The emerging HMO market offers attractive growth prospects and great synergy potential, but it's true that the market has been delayed due to longer registration and project timelines. I will come back to HMO later when I discuss our newest lighthouses. We didn't only acquire new businesses. An essential part of our journey to becoming a dedicated bioscience company has also been the successful divestment of Natural Colors. We concluded the review process of Natural Colors with the divestment to EQT in March. Looking at the overall business activities, our employees delivered a strong financial and non-financial result in 2020-21, despite the many challenges we had with COVID-19. We continue to reinvest in our core businesses while leveraging our microbial and fermentation technology platforms to grow our lighthouses in new areas. We have had an all-time high product launch activity in dairy, animal health, bioprotection, and fermented plant bases. In spring, we launched the next generation FreshQ bioprotective food cultures. We have launched a new portfolio of probiotics for pet food and supplements. Finally, BacThera, our joint venture with Lonza, is ready to start supplying live biotherapeutic products for clinical trials. Only two weeks ago, BacThera announced together with Seres Therapeutics, a leading microbiome therapeutics company, a collaboration to manufacture SER-109, a leading product candidate for C. difficile infection. In general, we have seen increased consciousness around living more healthy and caring for good immune defense. We do not expect that this trend will suddenly disappear. Also, the consumer interest in probiotics has grown strongly. This is one of the reasons why we have launched the Probiotic Institute on a global level, providing educational and scientific content around probiotics and the human microbiome. As the world reopens, we focus on getting our sales force and innovation teams even closer to our markets and customers in order to fuel the innovation agenda on all the markets that we serve in terms of both new applications and efficiencies. With travel restrictions easing up, this will positively impact our ability to run trials with customers, which is an important part of our sales process, particularly for new innovations. We will keep on raising the bar for innovation and customer proximity, defending and further strengthening our market position in food cultures and enzymes, animal health, and human health by investing in new product development, scientific differentiation, and our go-to-market strategies. Now, with the launch of our 2025 strategy last summer, two new exciting lighthouses saw the light of day. One of them, fermented plant bases, and the second one, HMO, were added to our portfolio. The increased consumer interest in health and sustainability has sparked a demand for functional plant-based options. Our new fermented plant bases lighthouse captured the trends toward alternative protein sources and healthier beverage choices, encompassing our activities in dairy and meat alternatives, as well as fermented beverages. This lighthouse delivered double-digit growth rate in 2020-2021. With the launch of VEGA Culture Kit and our new FreshQ dairy culture offering fermentation-enabled bioprotection to plant-based dairy alternatives, we have applied our 145-year legacy of work within the dairy industry to this highly innovative and rapidly-growing segment of the market. Now, our HMO is our new lighthouse. HMO, or human milk oligosaccharides, are carbohydrates or complex milk sugars that are only found in human breast milk. HMOs are the third most abundant solid component of human breast milk. And by adding HMOs to infant formula, we can bring infant formula even closer to mother's milk with a number of beneficial effects for the baby. It was through our acquisition of Jennewein that we entered this pioneering space, which is a strong fit to our microbial portfolio and offering strong functional synergies with our probiotic bacteria, such as LGG or BB-12. Jennewein has been a leader in the HMO industry with a superior product offering and IP portfolio. We intend to maintain and expand the acquired portfolio of intellectual property rights covering HMO and the production thereof and will keep enforcing such IP rights. We reached beneficial settlements with Glycom and Nestlé over several patent disputes. In connection with the acquisition of Jennewein, we also acquired the facility in Kalundborg, previously held by BASF. We are in the process of evaluating the timeline and the level of investment for the additional production capacity of human milk oligosaccharides. So far, the revenue from this lighthouse has been lower than originally expected, but we have seen good momentum in securing customer contracts. Both of these new lighthouses connect directly to the UN Sustainable Development Goal number three of improving good health and well-being, which has been a burning platform throughout the pandemic. Let me comment on our employees. Not only has the pandemic triggered an enhanced global focus on health, it has also strengthened Chr. Hansen's internal focus on employee well-being. COVID-19 impacted their ability to meet customers, to connect with colleagues, and made it difficult to keep a sustainable work-life balance. That is why we have launched a range of initiatives to help our employees and to support both their physical health and fitness, as well as their mental health and well-being. Also, we provided our people managers with extra support in remote management. A global flexible workplace guidance has been implemented to leverage and respond to a new reality of hybrid working. Let me put it this way. Our employees are simply the most valuable asset that we have. Investing in our people is investing in our business. Looking back at the financial year 2020-2021, I can only echo Dominique that this was a true transition year for Chr. Hansen into a fully focused bioscience company. This new financial year, we will be focused on commercial execution and anchoring the new businesses while making progress on our 2025 strategic priorities. Mega trends, such as the growing world population, demographic shifts, increased health awareness, and the strong climate agenda continue to support the Chr. Hansen business model. We keep fully committed to our purpose to grow a better world naturally and delivering on our long-term financial ambitions. I am humbled to lead a company with such a strong purpose and growth perspectives, and I am dedicated to create stronger value for all our shareholders and stakeholders. I now, Dominique, give the floor back to you. Thank you, Mauricio. So now, change of subject. Let's look at the board composition. Provided the annual general meeting follows the board of directors' recommendation, four out of the seven board members elected by shareholders will be women. Let me say that I'm very happy that we have already achieved our 2022 targets of having at least three women shareholder-elected women at the last year's general meeting. So to ensure that the board continues to have a gender-balanced composition, it has set a new target of having at least three board members of each gender elected by the general meeting by 2025. Overall, the board considers that its proposed composition in terms of experience, competencies, age, gender, international background provides the necessary diversity to ensure very effective board work. Now, over to the evaluation of the board. In 2021, like every year, we have reviewed the work of the board of directors as a whole and also for each board member individually. This review assessed, among other things, the efficiency of the board, the board composition and dynamics, the processes supporting its work, the contribution of individual members, the chair's performance, and last but not least, the collaboration with the executive team composed of CEO Mauricio Graber, CFO Lise Mortensen, and CSO Thomas Schäfer. In addition, each member of the board of directors was provided with feedback on their individual performance in one-to-one sessions with me in my role as chair, and in turn, a member of the nomination committee provided feedback to me on my own performance as chair based on the input from the whole board. Like in 2020, the board decided in 2021 to conduct an internal board evaluation facilitated by the corporate secretary, and the participants anonymously, it's important, completed a comprehensive online questionnaire, and their responses were summarized in a report. The outcome of this evaluation gives the picture of a strong and professional-performing board having a very good collaboration with the executive board, and this was presented at our September board meeting. I am also pleased to say that the areas for improvement identified in last year's board evaluation have all been addressed. The areas identified for improvement in the fiscal year 2021 evaluation focus primarily on strengthening the enterprise risk management reporting and following up on the market execution of the recent acquisitions and the lessons learned. There is also a point about continuing to look at the right balance between presentations and discussions during Board sessions and reverting mostly to physical Board meeting, COVID-19 permitting. As regards remuneration now, let me remind you that Chr. Hansen's remuneration policy is designed to promote the creation of value in the business. So it is imperative that we are able to compete with other companies and attract and retain highly qualified top executives by rewarding them on market terms. So on top of base pay, incentive pay is therefore an integral part of the remuneration of the Executive Board designed to support both short and long-term objectives and, of course, align the interests of shareholders and the management team. The Executive Board remuneration is designed in accordance with the remuneration policy which has been approved by the Annual General Meeting in November 2019. Let me say that the substantive provisions on bonuses and incentive schemes in the remuneration policy of this year remain unchanged. What is up for approval today under agenda 6.A is a specific amendment of the remuneration policy regarding indemnification arrangements. The total remuneration of the executive board for the financial year was 6.1 million EUR. The largest element of this, which is 2.1 million EUR, relates to base salary and pension, while short-term bonuses make up 1.3 million EUR. Matching shares of 1.4 million EUR were granted for the long-term incentive programs. The board finds that the current remuneration structure and level of remuneration satisfy the objectives and that the various requirements set out in the remuneration policy are complied with. Anders. Up to you. Thank you. That brought us through the presentations for the first four items on the agenda, and I will now open up for the debate. I should mention that you're allowed also to speak in English if you have any questions or comments up here. So there will be immediate translation to those here on the panel here that don't speak Danish natively at least, and then the answers will be provided in English. So I already know that we have a couple of participants that would like to speak today. One is Klaus Bjerg Møller from ATP, and the other one, I think I can see Anders there in the shadows, Anders Schelde from AkademikerPension. And then I know Bjørn Hansen has also requested to speak. If there are others, you're welcome to come up here later on, and if you are sitting way in the back, you're welcome to sit up here next to Anna, as she will just make herself known there and wait until it's your turn. I promised just to give you a few details on participation here today. So there are in total 56 shareholders and 17 companions or advisors, and then we have a number of guests as well. So on the number of shares represented, we have a share capital of 843 million, approximately, represented, and the vast majority of that is represented by proxy or voting instructions. That is actually 98% of the votes present that are represented by proxy or postal votes. And that represents 63% of the total capital that are here today. So I will open up for the debate. Claus, you're welcome to come up here. Thank you for the floor. My name is Claus Bjerg Møller, and I'm representing ATP as co-head of Danish equities. First of all, thank you for the 2020-2021 report. Chr. Hansen has experienced some difficult years regarding volume mix growth, the reason for this being both external and internal issues. The external issues are naturally the COVID-19 pandemic, but also some changes in the marketplace. Regarding the internal issues, my rhetorical question is, was Chr. Hansen fully prepared for the changes in the market and in the forefront of innovation? I think the answer is no, but I was pleased to see how fast Chr. Hansen made some changes by divesting natural colors and making three acquisitions, namely HSO Health Care, UAS Labs, and Jennewein. The transactions have been successfully completed, but not without challenges, especially relating to Jennewein. As an investor, I'm happy when companies act promptly when they face problems, and hopefully, we will see better volume mix growth over the coming years. We can already observe an all-time high product launch activity in several areas, hopefully the first evidence that Chr. Hansen is still a growth company. Chr. Hansen is a leading company within ESG. As a shareholder, ATP is delighted to see a company, on one hand, having products which make the world a better place, and on the other hand, takes responsibility for own actions. Here are a few examples. Investing in a large solar plant to provide energy for own energy consumption. Investments are done in partnerships with local developers and contractors. Sustainability targets are set, disclosed, and progress is satisfactory. Also, Chr. Hansen has joined the Science Based Targets initiative. A new important area in companies' ESG efforts and reporting is biodiversity. To that, I have the following question. Has Chr. Hansen assessed how the company is either dependent on or has a negative impact on biodiversity? A new tax policy was also released during the year. I noticed the promise to country-by-country reporting after an analysis of possible issues for the company. I'm pleased with that decision. In conclusion, I would like to congratulate the management and employees on the result for 2020-2021. Thank you for your attention. Thank you for that, Claus, and Dominique will be responding shortly, and Anders, you will be up next. First, I would like to thank you for your fair assessment of where we are, what we have achieved, where we need to make more progress. I can tell you that we are fully aligned with what you just described as the necessary steps for Chr. Hansen next year. We are also pleased that you acknowledge all our efforts in the ESG arena because it's not easy. It's on top of all the rest because it's not either/or, it's both. And of course, the financial targets and the organic growth targets have to stay preeminent, and so you have seen that we have now adopted the Science-Based Targets, which was the most recent achievement, but it was a lot of work, more than one year of preparation across the organization because this is not something that can be accomplished by one person. It has to be really a collective achievement across the organization to be serious about it because these are quite ambitious targets, so to your specific point about biodiversity, I must say that Chr. Hansen is, of course, following very closely all discussions related to biodiversity. We know that it is a critical topic for future generations and to keep a planet in good shape. We are also closely, our public affairs team is closely engaged in the EU Commission's work on the biodiversity strategy for 2030, so at this point, I cannot say that Chr. Hansen has yet formulated a biodiversity strategy. We feel we are not fully ready for that and as you've seen, we have also made a lot of other things happen this year, so we have to be careful to do everything very seriously. But what we are already doing, and to a point that you mentioned in your intervention, is that naturally, Chr. Hansen contributes to preserving biodiversity by proposing microbial natural solutions which allow to lower or avoid sometimes the use of chemicals, and we know that chemicals are very detrimental to biodiversity. The more we can promote our natural microbial solutions, the better it is for biodiversity. And this is what we do. The other thing that I mentioned in my presentation today is the Think Climate Naturally program, which is very active now at Chr. Hansen. And we know that climate change can have a very detrimental effect on plants and on animals, habitats, etc. This program, per se, even if it's not directly a strategy of biodiversity, it strongly contributes to biodiversity. And the last thing I would like to mention, and honestly, it's work in progress, is we already require from our suppliers of raw materials that they take measures to conserve biodiversity. But as I said, it's work in progress. And one of our big focus areas for next year is to work on supplier engagement even more and with a specific emphasis on biodiversity. Thank you. And now it's Anders Schelde from AkademikerPension. Welcome. Okay. [Foreign language]. I'll be speaking on behalf of LD Fonde and AkademikerPension. We have investedDKK 78 million in Chr. Hansen. Chr. Hansen, for us, is a good example of a Danish company with high quality. You have proven that you take responsibility. You want to drive positive change through your microbiological and fermentation technological platforms. 2021 has been a difficult year. Investor trust has been going down because of the pandemic, which has been a challenge for all of us, but also because of uncertainty concerning your expectations regarding the future and the effect of your acquisitions. We believe that over time, your innovative solutions will create the basis for a healthier, stronger, greener society. That makes you relevant today and for the future. And therefore, we are making long-term investments in Chr. Hansen. As a long-term investor, we would like to focus on elements of your work with responsibility and transparency that we see as important to future guarantee the business. We'd like to praise the board for the follow-up on the LD Fonde and AkademikerPension proposals concerning taxes and climate. Thank you for following up on those. The thing about tax has to do with examining what business implications would it have for the company if transparency is increased in the direction of country-by-country reporting. We thought that Chr. Hansen and Danish companies in general can help drive a significant development, create more transparency. And if more transparency becomes the norm, fair taxation will also be the norm. That will give a level playing field for companies, and it will oppose the erosion that we see in the tax base in many countries. The board supported the proposal that was adopted by the AGM. When we can now see from the most recent annual report, the audit committee has assessed the consequences of the country-by-country reporting, and the company has decided to use the GRI 207 standard in next year's annual report. So we appreciate that. And in addition, the company's tax policy has been updated, now also emphasizes the importance of transparency. We pay a lot of attention to Chr. Hansen. We know it's a rather small organization in a global context, but at the same time, it has a global spread of its business. And that means that your report here is stronger. It looks like a very full initiative. It will strengthen the high degree of trust that we have in you, and we believe that Chr. Hansen also enjoys trust. And we look forward to the coming reporting. Next proposal. The proposal on tax says, "Well, it was an appeal to the board for more transparency concerning long-term business risks and not least opportunities in relation to the climate crisis." The proposal said that the annual report should have more business-related information about the climate, including governance, risk management, data, goals, SBTi strategies, etc., all in line with the so-called TCFD recommendations that are gaining ground this year and will also be part of legislation in a few years, I believe. This proposal was not adopted. It did not win the support of the board. The timing was wrong, it was said. But the board agreed that within a relatively short horizon, it would be the right thing to do. And it's against that background. It's very positive to see in this year's annual report that you already have it. You have said in 2022, you will implement TCFD. You've not only analyzed on TCFD for reporting perspective. You have spent the year assessing TCFD across your organization. You've done an impressive piece of work here. It's the right way you've done it. We're pleased that the board has really put climate-related business risks and opportunities on the agenda. On today's agenda, as usual, we have a number of fixed items. I'd like just very briefly to emphasize the remuneration report. Reporting on remuneration is a rather new discipline at AGMs. And that is why in our work, with our portfolio, we have paid extra attention to these reports. Here, we very much favor increased transparency. Unfortunately, in many companies in Denmark and abroad, we do not see that they are there yet. That also applies to Chr. Hansen. We would like to see better transparency in regards to the comparison with other companies, the so-called peer group, and the use of KPIs. So that means the link between pay and the achieving of the predefined targets. So we hope that you will work on improving that one going forward. You've chosen. We have voted to. We decided to vote against the remuneration report here. But thank you for your attention. We look forward to following your development in the coming years. [Foreign language]. Thank you, Anders Schelde. I know Dominique will come up here and give a reply to your presentation. I think there are others that might want to speak. When Dominique has finished, you can have the floor over to you. Quickly into English. So Dominique, welcome to take the floor. Thank you. Thank you, Anders. And, ooh, it's going down. Thank you, Mr. Schelde. Thank you for acknowledging our progress following last year's discussions on the proposal. So you've seen that we were in listening mode, and I can tell you we are still in listening mode this year. We try to improve every year, step by step, because we have many priorities to deal with, but we are very pleased to do so. In terms of the remuneration report, as you said, it's quite recent in this type of format. So of course, we will be evolving every year. We are also listening to the messages we get from our investors, of course, and from our stakeholders. So what I would like to outline is that in this year's report, we have already increased the level of disclosure. And I will give you two examples. The first one is for the incentives. We now mention whether it was below, at target, or above target. And we have, sorry, also increased our level of disclosures as regards sign-on bonuses. So little by little, we are looking at it. Every year, we are reviewing the situation and trying to improve progressively. And from what we heard from you and from other investors this year, we will probably be looking to further transparency without damaging the interests of the company, so without disclosing competition, which would be a competitively negative force to do. But we are looking at working on more disclosures around the peer groups. So this is what we have in mind now as we already think about next year's remuneration report. But be sure that Chr. Hansen takes transparency and clarity and full disclosure very, very seriously. Thank you. And I can see Bjørn Hansen moving up here. And if there are others, you're welcome to sit next to Anna and prepare. I can see that Jens Frederik Demant is also requesting to speak. So Bjørn, you will be the first one speaking. Goddag. Mit navn Bjørn. Hello. My name is Bjørn Hansen. I have been on this podium for a number of years now, and I represent shareholders of different sizes. Unfortunately, we weren't at the AGM last year. We couldn't be here physically due to COVID-19, and that caused a number of problems for the company and also for their future, I think, because COVID-19 will continue, and we are getting vaccines and vaccines. But one thing will continue throughout perhaps the next five years or more, and that is that traveling with no restrictions like you did before COVID-19, and any board of directors and any board member could travel to any country in the world within 24 hours. That's definitely over. Also, with the climate challenge, we need to cut back on air travel and so on. We hear so much about the climate, and you should always start with yourself. That's a good place to start. I have a question about growth and dividends. For the past five years, I've brought some documents here from other companies in Denmark, in the Novo family. And the Novo Nordisk family is always seen as the crown jewel of Denmark together with A.P. Møller - Mærsk. And I believe that this company, even though it's perhaps in a bit of crisis, I'm sure it will get back on its feet, and I really hope that you will. Nordnet hasn't really realized that you divested a division because it says that you trade in colors. I don't know what kind of colors that is, but I printed it for you because I thought, "You've got to be kidding me," but it's true. And I brought it for you to see. And there's something else that I was surprised looking at Nordnet, and they say that they have the largest and best platform in all of the Nordics, perhaps in all of Northern Europe even. That might be well and true, but the total debt, and we talked a lot about that at last year's AGM, and we have four different numbers here from Saxo Bank. Danske Bank will not inform us of the exact number. But Nordnet, they call it short term, and others also call it short term. And then you can say, "It's a short-term debt." Should it be paid out the day after tomorrow or in two years? We can't see it, but the numbers vary a lot. Whoever works with IT in this company will have a lot to say. Anyway, I want the board of directors to look at this so that the individual shareholders that I represent will again say that they can recommend this company because it is a company that has developed fantastically for many years, but unfortunately not in the past few years. I have nothing against the fact that the chair of the board is a woman, and I would be even more glad if she lived in Denmark from time to time. But of course, I understand that's not the case. Then we have our CEO, and we looked it up on Nordnet today. We couldn't see any name, and I thought, "That's not true." And then we tried to contact the banks, and they say, "Who's that? What is this?" I mean, don't you update your own information? You do all these analyses, and in Nordea Bank, I deposit DKK 10,000 a day, and then I sort them according to countries and companies and so on. So we cannot recommend you to do business with Nordea Bank because today they have a small problem, which was that they couldn't figure out with the VP Securities how many shares they had. So one of the shareholders here suddenly said that they had no shares at all. And that is something the tax agency really likes. I'm sure about that. We saw some late payouts of dividends last year, and we were informed online from London that this transaction had already gone through, that you had divested Natural Colors. And we did get the payment, but it was postponed about six months. And I don't think that's a good thing when you live in Denmark. And we normally believe in our companies, and we also believe in this company. But who runs the banks and the media, and how can they influence a company like Chr. Hansen? In the U.S., they know how to produce color, and you can see if the strawberry doesn't have enough color, they will really be darn sure that they give it some more color. And Natural Colors, that's great, but it has to be natural. I still didn't really understand why you sold it, and I hope that the new company can make some money, and I hope that we can learn something from it and that we can invest some of the capital that was supposed to be used for reducing our debt, as it was said last year. But I can see that you have reduced debt, and one of the biggest banks today informed that next year it will increase. It's not just by three Danish kroner, and that is Saxo Bank. So have a look at that as well. And the debt ratio, some of the people I know, if they see a debt ratio, they say that if the debt ratio is like so and so, they won't touch that company. Chr. Hansen is a company that I trust, but the numbers need to be truthful and correct. We have gotten a partial answer, but we asked which owners abroad have significant influence with more or less than 5% of the shares in Chr. Hansen. I mean, we know that Novo Holdings, luckily, they have shares, and I hope they still do. I don't know if they reduced their share of the company because that is our guarantee. And finally, I would like to say to those who want to invest more in Chr. Hansen that they should wait for things to be corrected and then invest again. But currently, with the share price from last year, that wasn't really all that good. Thank you very much. All right. Thank you, Bjørn Hansen, for those questions. I know Mauricio and Dominique have been conferring to split the questions between them, and we'll provide comments, not necessarily Bjørn, in the same order as you raised them, but we should cover all the points raised. Yeah, because you made a lot of points, Mr. Hansen. We are sharing, so I'm taking those which are directly related to the chairmanship and to the AGM, and Mauricio will tackle some of your business questions. So your question related to first, I'm pleased that you appreciate diversity and that it's okay for you that the chair is a female, because I'm a big believer in diversity, both male and female, and you've seen that for the future, we are not talking about putting more women. We are talking about keeping the right balance because this is the value of diversity. It's not about having too many of one kind or the other. It's really having a diverse mix. And in this diverse mix, diversity is not only gender, it's also nationality. And so I'm very pleased that we have several nationalities represented on the board. And of course, you cannot expect all these nationalities to live in Denmark. So they are traveling to the board. We have also learned during the pandemic that we were pretty good, I must say, also at working remotely. So it means that if ever there is an impediment for traveling, it doesn't mean that the board work stops, not at all. It means that we have a very strong platform, which is called Microsoft Teams, on which we worked very efficiently during the COVID pandemic. So of course, you cannot expect all foreign board members to all live in Denmark. By the way, I would say it's good because, of course, the headquarters of Chr. Hansen are in Denmark, but Chr. Hansen is a very global company. And so it's very good to have people living in different countries to bring different insights when we talk about infant formula, probiotics, plant health. It's very good to have FCNE, of course, dairy, very different consumption patterns, different customers. So it's very good to have board members who live in different parts so that we can exchange our experience. So I hope that this will reassure you that it's a good thing. Not only it's not negative, but it's very positive in my view. To your other question, which relates to the payment of dividend, I chose to take it also myself because I remember very clearly that last year at the AGM, I had said exactly that we would pay an extraordinary dividend, slightly delayed, as soon as we got the proceeds from the sale of Natural Colors to EQT. It was said very clearly in the board, and we have held, sorry, our promise, and we have paid in May the DKK 6.54 dividend per share that I mentioned for a total of DKK 860 million, which was exactly what we had promised to do. I think here we did what we had said very officially in the AGM. With that said, Mauricio, would you like to take some of the business questions asked by Mr. Hansen? Thank you, Dominique. Let me try to complement some of the other questions if I got the translation correct. So there was a question about the growth of the yield over the past five years. I would say consistently with what Dominique presented in her speech, our share price growth over the last five years has been 56%. That compares to the Euro Stoxx Index of 44%, but appears to deliver 117%, taking into consideration that we also distributed excess cash to shareholders in the form of ordinary dividends and extraordinary dividends. To your question on the divestment of Natural Colors, the Natural Colors was divested because it did not have synergies with our microbial and fermentation technology platform. It was, in essence, a very different business that did not have the same level of growth and margin entitlement as our microbial platform. I think you asked a question about debt. I would say we published every year together with our results a fact sheet that really provides a lot of the summary and the information, and probably the most relevant number in relation to our debt will be the net debt to EBITDA ratio. That was 3.1 times at the end of last fiscal year and is 2.3 times at the end of this fiscal year. I would consider that probably the most relevant number in connection to debt. Some of the other questions about which accounting standards do we use as a global and international company? Of course, we report according to IFRS rules that would be the appropriate standard for us to report, and we adhere to that principle. As far as for my own name and residence, I think that's a public record that is available to everyone. Even when I check, my address in Oslo Plads shows up as I'm residing here in Copenhagen. I think there was a question about foreign owners or substantial influence, and I would say if you look at our Danish shareholders, it's Danish shareholders hold about 35% of the Chr. Hansen capital. Obviously, that includes the share of Novo Holdings. And we have one foreign investor which holds more than 5% that is APG from the Netherlands that holds just above 5%. I think with that, I have responded to all of the other business-relevant questions. Thank you for your questions as well. Thank you. And Jens Frederik Demant, do you want to come here up now? Okay, we'll wait. Thank you. Erlander Dørensgaard. Does anyone else wish to speak in connection with the first four items? If not, I'll go over to the more formal treatment of the first four motions, so just to make clear, is there any other questions for the first four items on the agenda? It seems that's not the case, so what I'll do now is just to go through the four proposals and conclude what is adopted here. So first of all, we have the report from the company's chair on the past year, and if there are no further comments, I'll just note that the general meeting here has noted the report. That's concluded, and then we move on to the next point on the agenda, which is just approval of the annual report. And I can mention here that there is an on page, let me see here, so we have on pages 69 to 72. There's the statement from the independent auditors, which is without qualifications or supplementary comments. I want to confirm that there are no further questions to the annual report. That does not seem to be the case, so that is adopted. Then we move on to the proposal for dividends that was explained by the chair in her presentation. So the proposal is for an ordinary dividend to be paid out in the amount of DKK 6.54 per share, corresponding to a total of DKK 860 million, or 58% of the profit of the Chr. Hansen Group for the year. And the proposal is stated in the convening notice, but also in the annual report on page 29. Any objections to dividends? I suppose not. Or any comments otherwise? All right. That is adopted as well. Then we move on to the remuneration report, which were commented on by the chair, and we also had a few questions under the debate. I want to note that there was a small correction made to the remuneration report. There was an error in a calculation of a sum of certain amounts. The detailed amounts or the individual amounts were correct, but the sum somehow got incorrect, so that has been corrected, and a new report was uploaded on November 19th. I just wanted to make that clear. If there are no further comments to that, I will also conclude that that has been adopted, noting that this is an advisory vote from the general meeting, and Anna, your comment was duly noted. I can say that the total support based on the voting instruction is 95% for the remuneration report, then the next point on the agenda is remuneration to the members of the Board of Directors. As explained in the convening notice, the company hasn't adjusted the fees since 2016, and the company has then conducted a general review of the Board fees here in connection with the general meeting. And that is a review of the general levels of listed companies, but also of other peer companies. And based on this review, the company is now submitting this proposal, which is essentially a 5% increase of the base fee for Board members. And as you know, the Chair and the Vice Chair fees are calculated as a multiple of three and two times the base fee. So with an increase of 5% of the base fee, there's of course an adjustment to the Chair and the Vice Chair fee as well, but there's no change to the multiplier. The second element of the proposal is also a 5% increase for the committee seats, and that gives the amounts that are stated on the slide behind me here. You can also see the multiples that apply for the different committee positions. Are there any questions or comments to this proposal here? If not, I will also conclude that that is adopted. It is adopted. Then we move on to item 6A on the agenda, which is a proposal regarding indemnification arrangements and an amendment to the remuneration policy in relation to that. So basically, the proposal is to allow the company to provide indemnification arrangements, and I'll just explain what it is in Danish. D&O insurance is to cover members of the Board of Directors and the Executive Board, and that this also be reflected in the remuneration policy. As mentioned in the notice, this is a consequence of developments recently in the insurance market. As you know, it's all commonplace to have D&O insurance, and both the prices and the terms have developed adversely in the past couple of years. So in order for the company to be able to provide proper coverage and also in the end to protect the board members and thus attract board members and members of the management board going forward, the company would like to have this opportunity to provide such indemnification arrangements. Again, to make it clear, and it's also reflected in the proposal, this authorization, so to speak, to give these indemnification arrangements will only be used if the company's board of directors considers that what is offered in terms of D&O insurance is either insufficient or associated with disproportionate costs for the company. The resolution also makes it clear that, of course, no indemnification can be paid if in case of fraud or willful misconduct by the relevant members. So this is just to clarify that, and it's reflected in the proposal. So the remuneration policy contains different elements of remuneration and other benefits to members of the board, and that's why it's proposed to make this proposal also reflected in the policy. So we can see there this specific arrangement that these specific arrangements can be provided. And Jens Frederik Demant, you asked for the floor in relation to this proposal, and of course, if there are other questions, people can take the floor afterwards. So I'm Jens Frederik Demant, and I'll be speaking under this item concerning indemnification. I can mention that I addressed it the first time at Tryg A/S ATM and two other C25 companies' ATMs. What I have against this proposal is that I deem it to be wrong. I can't recognize the reason that's given. I don't accept that. They say that there is fear that any coming new board members or new members of the top management could fear, "Oh, we could risk something." No, I don't believe that's relevant. My point of view is that board and management are given exorbitant pay, and if any potential new board member or member of the top management doesn't trust himself or herself and their ability to act honestly, then we shouldn't have them. So I'm against this proposal. I'm going to vote against it. Thank you. [Foreign language]. Any other questions or comments concerning this proposal? Comments or questions to the proposal here? That does not seem to be the case. Jens Frederik Demant, I'll note your opposition to the minute book, and then I can ask if there are no further questions. I'll conclude that this proposal is adopted, and we can move on. The next point on the agenda is the election of board members. As you all know, the board members here are elected for one year at a time, and it's divided into two proposals. The first is relating to the Chair of the Board, and then the other board members. The first element here is a proposal for the Chairperson of the Board, and you will recognize her quite well, both from the picture and, of course, Dominique is sitting right here. I would like to know if there are any questions or comments to this proposal. If not, I can wish. Yeah, congratulations on that. Then the next element, of course, is a selection of other members of the board, and Dominique, you will present the proposal from the board in this regard. Yes, Anders, thank you very much. It's now time to look at the composition of the board. The board of directors proposes the re-election of Jesper Brandgaard, Luis Cantarel, Lise Kaae, Heidi Kleinbach-Sauter, Kevin Lane, and Lillie Li Valeur. Mark Wilson, who has served on the board since 2010, so a very loyal board member, has informed the board of directors that he will not seek re-election to this board. Let me thank Mark for the long service and strong contributions to the board. This will decrease the number of shareholder-elected board members from currently eight to seven, which is within our normal range. An election for employee representatives was held in June 2021, where the current employee representative, Charlotte Hemmingsen, Kim Ib Sørensen, were re-elected, and Karen Lauesen and Casper Gammelgaard were elected for the first time, and will join the board today just after the annual general meeting. At the same time, the former employee representative, Lisbeth Grubov, and Per Poulsen, will step down from the board of directors. So the board would like to thank Lisbeth and Per for their very dedicated contribution to our board. Karen and Casper, welcome and well done with your election. Charlotte and Kim, well done with your re-election. So the four employee-elected board members are all up for election again in 2025. Anders? Thank you for that. And for the general meeting-elected board members, I would like to refer to the convening notice, which in Annex II contains all the details about the background and other offices that the individual board members hold in other companies. So any questions or comments to the proposal here described by Dominique? If not, I think you can also applaud and congratulate the board members for another year. Good. And then we get to item number eight on the agenda, which is election of the company auditor. And here we have a proposal for the re-election of PwC, and they're represented here today by Kim, and Kim Tromholt, and Allan Knudsen, who sits right here behind the board members. I'd like to know if there are any questions or comments to that proposal. There's one. So Bjørn Hansen is making his way up here. Yeah. Yeah, I don't know how many years that you have audited this company, but I would like for you to receive my email. The numbers from three different banks are different. I don't trust them. I need to trust your PricewaterhouseCoopers. Isn't that PricewaterhouseCoopers they're called? The auditors who are here today, I need to trust them. And I expect that you know the company and some other companies in the Novo family, I expect. I know the debt numbers. They're wrong. I'm not sure we can claim that PwC is responsible for the figures on some of those platforms, but I'm sure they will be available afterwards to answer some of your questions, Bjørn, on that one. Other questions or comments? If that's not the case, I can also congratulate PwC and another year, the company. Let me get to the last point on the agenda, which is an authorization to me, as chair of the meeting, to file the resolutions that have been adopted here today with the Danish Business Authority. If anybody objects, they will be welcome to do it on my behalf. All right. So that's approved as well. And Dominique, I'll leave you to conclude the session here today. Yeah, thank you. We have now been through the entire agenda for today, and I would like to thank all of you for listening in this afternoon. Chr. Hansen has been through a transition year to become a bioscience pure player. With its unique microbial and fermentation technology platform, the company is very well positioned to be a sustainability enabler for its customers. With a continued focus on both financial, of course, and non-financial targets, Chr. Hansen is determined to successfully execute on its 2025 strategy in order to create value for all the company stakeholders. On behalf of the board of directors, I wish you all a very good evening, and I hope to see you again next year. Thank you very much for your attention.