Good morning, everyone, and welcome to Citycon's first half 2021 result audio cast. We have this morning published our financial statements, and as usual, those can be found on our webpage under the investor section. My name is Laura Jauhiainen. I'm the Vice President of Strategy and Investor Relations. Today in this call, as usual, you have our CEO, Mr. Scott Ball, and our CFO and Executive Vice President, Eero Sihvonen. We'll start today with the presentation of the Q2 results and the main events of the quarter. After the presentation, as usual, you will have a chance to ask questions. Scott, please go ahead. Thank you. Good morning, everyone. We're pleased to present Citycon's Q2 results. I'll start with a summary of Q2 and H1, as well as the highlights from the quarter. Eero will review Citycon's financial results and where we stand now after the first half of this financial year. I will conclude our presentation with an update on our portfolio transformation strategy and the most recent developments on the residential side. In addition to outperforming the sector during the pandemic last year, Citycon's financial and operational results continued to improve in Q2, with increases in NRI and valuations compared to both the prior quarter and Q2 in 2020. NRI for the period was EUR 50.8 million, which is 1.2% over Q2 2020 levels and a 0.7% increase over Q1 of this year. The operating profit is similarly ahead of Q1 and 2020 levels, standing at EUR 44.1 in Q2 of 2021. Portfolio valuations continued to grow for the second consecutive quarter. During the first half of the year, the total increase stands at EUR 140.5 million, with EUR 24.4 million attributed to fair value gains. On the operational side, footfall continued to increase. Like-for-like footfall standing at 11.9% over Q2 2020 levels. Tenant sales grew accordingly, with like-for-like tenant sales 1.8% above the first half of 2020. It's noteworthy that in June, tenant sales have recovered to pre-pandemic levels of June 2019. Rent collections have remained at high levels, and for the first half of the year, we stand at 95%. Final collection rates are again expected to increase beyond this already high level. I should note that these are non-adjusted collection figures. We signed over 50,000 sq m of new leases during the quarter, with average rents being higher than Q2 2020. The ongoing solid performance demonstrates the strength of our strategy, which is based on a large share of necessity tenants and assets in densely populated Nordic urban markets with a connection to mass transportation. It is worth highlighting that this Q2 2021 improvement is on top of last year's already strong and resilient performance, as Citycon clearly outperformed the industry averages during the pandemic. On the financing side, one of the important highlights was the upgraded outlook from both Standard & Poor's and Moody's. We now have investment-grade ratings with stable outlook from all three rating agencies, Standard & Poor's, Moody's, and Fitch. On the heels of our successful senior bond offering in Q1, we also issued a green hybrid bond of EUR 350 million with great demand from investors. The bond issuance, combined with the divestment of three non-core assets in Q1, improves our liquidity, which allows us to speed up our portfolio transformation strategy. It also reduced our loan-to-value to 38.9%. As we have communicated previously, one of our key initiatives is the recycling of capital and transforming our portfolio towards more residential. The Nordic transaction market has been active during the first half of 2021, and we've had reverse inquiries for several of our assets. The current transaction market also supports selective strategic acquisitions that we may pursue in the residential space. This transformation also entails active development of building rights in our portfolio. At the moment, we have identified EUR 220 million worth of building rights, which is approximately EUR 20 million above the previously communicated figure. Of this, approximately EUR 50 million of this is on our balance sheet, leaving the large majority of value as additional upside for the company. Last but not least this quarter, we appointed Bret McLeod as CFO elect to continue Eero's great work as he retires at the end of the year. Bret will become CFO and a member of the Corporate Management Committee in January of 2022, after which Eero will continue to support us as an advisor through June of 2022. We warmly welcome Bret, and we thank Eero for ensuring a seamless transition. Another benchmark of our continued strengthening is the second consecutive quarter of fair value growth. This is a result of the positive development of the financial and operative key metrics, combined with the fact that the Nordic commercial real estate market is proving to be very attractive to many international investors. We realized a fair value change of over EUR 24 million during the first half of 2021. As we previously mentioned, the spread between cap rates and interest rates is at historically wide levels, and we are beginning to see some cap rate compression in some markets which revert to the mean. The Nordics have proven to be a safe haven, which provides stability in our business. Consumer confidence has remained at relatively high levels throughout the pandemic and has grown significantly during the 2nd quarter of the year. It is one of the most important metrics in forecasting consumer behavior and demonstrates that we are on track for a rapid recovery from the pandemic. Consistent with our strategy, we have a large share of necessity and municipal tenants, which adds to the resilience of our portfolio and brings stability to the business and cash flows. Over 35% of our GRI comes from stable necessity tenants, and only 5% of our leases are turnover-based. We do not see this turnover-based leasing population growing. I should also point out that 92% of our leases are tied to indexation, providing protection against potential inflation. The public sector continues to be a growing part of our business. Currently, public sector and healthcare services account for 10% of our contracted GLA. With strong credit behind these leases, we have continued to increase this proportion of public services. As mentioned, footfall and tenant sales are showing positive development. like-for-like footfall was approximately 12% over the comparable period to Q2 of 2020. Tenant sales also developed positively in the first half of 2021, with a 5% increase in grocery sales and 2% increase in like-for-like total tenant sales. Towards the summer in June, we have even exceeded comparable pre-pandemic tenant sales figures from 2019. These are all forward-leading indicators. Rents typically follow these trends. We continue to see progress on the leasing front as the number of leases signed has grown both quarters this year. We have signed over 100,000 sq m of new leases this year, putting us in a good position for the remainder of the year. In Q2 2021, the new leases measured in sq m almost doubled compared to Q2 2020. The occupancy rate has also remained at a high level, thanks to our strategy of necessity-based urban hubs. In Q2 2021, the retail occupancy rate excluding Kista was at 94.1%, compared to 94.1% in Q2 2020 when the pandemic first hit our markets. To summarize, quarter-over-quarter growth has highlighted in several key metrics, including NRI and fair value changes. The trajectory of the Q2 results also bodes well for the remainder of 2021. As a result, we have tightened our previously announced guidance. I will now hand it over to Eero, who will give a more thorough view on our financial development. Thank you, Scott. I will start from the page 11 Q2 financials. Like Scott mentioned, we had a strong 2nd quarter and strong first six months. For the three months ending at the end of June, basically, we had a net rental income of EUR 50.8 million, which was EUR 600,000 better than one year ago or 1.2% over. EPRA earnings ended up at EUR 32.7 million, which is close to previous Q2's level, EUR 3.6 million below. Earnings were slightly below due to somewhat higher financing costs, JV results, and due to the deferred tax items, which were still positive, but we had quite extraordinarily positive deferred tax items in Q2 2020. Quite notably also, our net replacement value improved. Net replacement value, of course, most of you already know that replaced net asset value as a new EPRA KPI. NAV/NRV also did improve. Going over to the first six months. Net rental income for the first six months was EUR 101 million, which was only EUR 1.4 million below last year's level. I say only because the comparison year obviously naturally included Q1, which was pre-COVID period. Partially, we are comparing ourselves to the pre-COVID situation, but still we're very close to that level. Overall, a good strong quarter and six months. On page 13, the exchange rates. Both Swedish krona and the Norwegian krone were impacted by the beginning of the pandemic and were quite weak, particularly around Q1, Q2 last year, but have thereafter strengthened. In a while, I will go through the exact impact of the currencies. On the net rental income level, we were supported by strong both NOK and SEK. A more detailed net rental income bridge. Here you can see that the impact of currencies for the first six months was indeed positive, approximately EUR 3 million. We had a like-for-like result, which was only modestly negative. Again, I would say modestly negative because we are comparing ourselves partly to the non-COVID period. On next page, you can see the estimated COVID-19 impact on our rental income. Of course, this is not exact science, and these are not exact numbers, but based on our best estimates. Here can be seen that the estimated COVID-19 impact on our net rental income for the first six months was EUR 4.3 million, and can be seen here how it splits between different line items, i.e., slightly higher vacancy, rental discounts, turnover-based rents, specialty leasing, parking, credit losses, and so on. A very important aspect of our results was the positive valuation, we had a 2nd consecutive positive valuation quarter. This quarter we had a full external valuation by CBRE for our Norwegian, Danish, and Estonian portfolio, by JLL for our Finnish and Swedish portfolio. We conduct a full external valuation 2 times a year, i.e., Q2 and Q4. Can be seen here that positive valuation for the quarter was EUR 15.5 million, for the first 6 months, EUR 23.4 million. Here the change has really been significant. Can be seen that last year in Q2, we had a EUR -76 million. The impact is approximately EUR 90 million better valuation result on a quarterly basis. Naturally reflects the stability of our business model and the quality of our centers, but also reflects the investment market and M&A market, which is picking up, and there are more comps in essentially all of our markets, particularly now recently in Norway. I already mentioned that the NRV is up, and here can be seen the bridge. The biggest component, of course, is the good positive results. Also, we were this time helped by the translation reserve, and that means a positive currency effect on our equity in the Swedish and Norwegian subsidiaries. EUR 11.66 NRV for the quarter. A few words about the financing. We had a particularly successful hybrid issuance in the beginning of June. We issued EUR 350 million of hybrid securities, which are subordinated to our debt obligations and treated as equity in our IFRS statements. The rating agencies essentially give the hybrids a 50% equity credits. Much of these proceeds are still in our balance sheet, waiting to be employed to expedite our strategy execution and drive the net rental income and earnings further. A very successful transaction. As a result of the hybrid issuance and as a result of our stable and improving results, like Scott mentioned, both Moody's and S&P upgraded our outlook to stable, and now all three ratings are stable. This is naturally very important also for us, as management is extremely committed to the IG investment-grade ratings and because a majority of our financing does come from the bond markets. Main financing metrics can be seen here. We are mostly based on fixed interest rates, so we are not among the companies who would suffer when the interest rates eventually would start to increase. Essentially, all of our financing is unsecured, so essentially, most of our assets are unencumbered. Part of the EUR 250 million of the revolving credit facilities is secured, but none of that is drawn currently. We do, of course, now have a substantial liquidity buffer, i.e., EUR 800 million, and don't have any refinancing needs anytime soon. The next maturity, apart from the short-term commercial papers, is in September 2022, EUR 162 million maturing then. Financing key figures can be seen on page 21. Most notably, loan-to-value IFRS is now within management target of 40%-45%, or actually even slightly better. That is very important from the rating aspects and also generally. Other main KPIs as can be seen here. The liquidity position, as mentioned, is reconciled here, and most of the liquidity, of course, derives from the totally unutilized revolving credit facility, committed credit facility of EUR 500 million. We have certain other facilities, and as mentioned, we still have approximately EUR 285 million of the Hybrid proceeds in liquid money market funds, and they are in liquid money market funds because maintaining those funds in bank accounts would cost money. As mentioned, these funds are awaiting to be employed in strategic purposes, and the plan B, of course, could be to repay our next maturing bond, this EUR 162 million, which can be quite flexibly called, and that is EUR 162 million and maturing in September 2022. Turning over to the outlook. Due to the fact that the results were strong, following our practice of previous years, we have narrowed the guidance, maintaining the same midpoint apart from the adjusted EPRA EPS. In the adjusted EPRA EPS, which includes hybrid coupons, we have maintained the previous low point and narrowed that as well. The midpoint has there not been kept the same because, since the previous updating, we have issued more hybrids, and the hybrid coupons do impact this line. Otherwise, the same midpoint and clearly narrowed guidance ranges. That concludes my part. Back to you, Scott. Thank you, Eero. As we previously highlighted, our strategy reflects a stable core business partnered with attractive organic growth opportunities which have clear synergies with our business. We have assets in prime locations and are located in the top 2 cities in each country with strong urbanization and direct connection to public transportation. The tenant mix is primarily necessity goods and services, layered with a growing share of municipal tenants. On top of the stable assets, the densification plans associated with our urban hubs provide significant growth potential. This entails developing new residential, office, and municipal services space adjacent to our existing assets. We also have strong social and community relationships, which makes us the preferred partner for municipalities to develop the areas around our assets. We continue to remain deliberate in our efforts to dispose of non-core assets at pricing that confirms our valuations. We've been very vocal about our intentions and have not deviated from this plan. We have a strong development pipeline and look for opportunities to exploit our improved liquidity for strategic acquisitions. Speaking of our development pipeline, we have approximately EUR 220 million of building rights embedded in our portfolio. These building rights provide significant organic growth potential, mainly in residential developments close to our existing hubs. It is worth keeping in mind that a large majority of this value is not on our balance sheet, with over 75% of the estimated value as additional upside for the company and its investors. The estimated building rights value is backed by a detailed project pipeline. We have this detailed by specific asset, but what we provided for you here is a detail by country. This pipeline stretches across our operating countries with around half of the total building rights value in Sweden. These building rights include a total of approximately 5,400 apartment units and is in line with our strategy of densification through diversification. To give you some further color on our residential pipeline, we have over 300,000 sq m of residential building rights. Over 20 projects covering all of our operating countries are in various stages of the development pipeline. This means that we anticipate having a steady flow of new residential buildings coming online every year over the upcoming 5- 10 years. Lippulaiva will be a showcase of this strategy and will open in April of 2022. This project will consist of 44,000 sq m of grocery stores and necessity-anchored retail space, along with a significant quantity of residential units, offices, and healthcare, all connected to a mass transit hub. The residential portion will consist of 8 towers with 450 units. 7 of these towers are now under construction, including the picture that you see on the cover of this presentation. This will be a textbook example of what we will accomplish with our development pipeline, and we estimate an annual NRI uplift of approximately EUR 19 million from Lippulaiva. 2 other interesting projects which are currently in development are Herkules in Norway and Liljeholmen in suburban Stockholm. We've just begun the construction of the first 2 residential blocks in connection to Herkules and have had strong interest towards the apartments being developed there. Liljeholmen, on the other hand, is a large-scale development project already connected to a train station. The project is being done with the City of Stockholm, and the area will become an attractive urban environment with approximately 120 new apartments and 3,000 workplaces. In addition to the organic development pipeline, we are also now in a position to accelerate this transformation through select acquisitions. The market has continued to pick up, and we've gotten reverse inquiries from potential investors in several of our assets as we continue our capital recycling initiatives. Thanks to the Q1 divestments and the successful hybrid bond issuance, our liquidity position allows us to accelerate our transformation through select acquisitions of residential buildings. To summarize, in terms of quarterly performance, financial and operational results were positive with quarter-over-quarter growth both against Q1 this year and Q2 of last year. Rent collections remained strong, and our leading indicators in our business are signaling a positive trajectory. We received upgraded credit rating outlooks from both Standard & Poor's and Moody's, meaning that we now have 3 investment-grade credit ratings with stable outlooks from all 3 major credit agencies. We completed a successful issuance of a green hybrid bond of EUR 350 million, with high demand from investors, leading to an LTV of 38.9% and a very strong liquidity position. Our densification through diversification strategy is progressing well. In addition to the organic developments, the Nordic transactions market is looking very attractive, and select acquisitions could be used as a tool to accelerate the portfolio transformation. These positive results allow us to narrow our full-year guidance. With that, I'd like to thank you for your time and hand it back over to Laura. Thank you, Scott and Eero, for the presentation. We now have time for questions, and we turn the line on. Operator, please go ahead. Thank you. Ladies and gentlemen. if you have a question for the speaker, please press zero one on your telephone keypad. There'll be a brief pause while we register any questions. Our first question is from Erik Granström of Carnegie. Please go ahead. Thank you. Good morning. I have a few questions. If we could start off a little bit with the value changes in Q2. I noticed that there were some changes to your yield requirements, and they seem to have decreased about 10 basis points compared to Q1, mainly in Finland and Norway. Could you say something about how the external evaluations have taken place, and why those markets seem to have strengthened more than perhaps Sweden? Hi, this is Scott. Thanks for the question. I think it's interesting. We've been kind of beating the drum that grocery-anchored retail is a different animal than traditional shopping malls that are geared towards fashion. I think that we're beginning, because of the results that we've generated last year as well as the first half of this year, I think we're kind of proving the point, and the appraisers are recognizing that performance. Not just the appraisers, but also, obviously, the rating agencies as well. We have seen, and as mentioned in the call, we are seeing the beginning, some green shoots in terms of yield compression in some of our markets, including the markets you just mentioned. I should also add that we mentioned that we've had reverse inquiries on some assets. There is an asset that we may trade on that I think kind of further validates the position that we've taken, and I think the trade that we made in Sweden in the first quarter with the three assets also validated valuation. I think it's a combination of the strong performance as well as the fact that we have transacted and continued to show that we can continue to transact at pricing that is at or above our valuations has convinced the appraisers that they can begin to compress yields a bit. The only other thing I would like to highlight, this is Eero. Hi. There has been particularly in Norway real transactions and new like comps where the appraisers can basically hang their hat and can basically compare to our properties as well. There has been clearly more transactions. This is one of the background. Good point. All right. Fair enough. In terms of these inquiries, do you consider them to be interesting and enough to actually make some transactions, or have they been made at levels that are not interesting enough, or at assets that you simply don't want to divest? I think that the inquiries are clearly at levels that are interesting for us. We are going to remain very deliberate about which assets we will transact on. As mentioned, I think there is at least one of the reverse inquiries that we will in fact transact on, which will further validate our pricing and is of a non-core asset. There's a second one that we are also considering. We haven't made the determination just yet, I think the pricing on the ones I'm mentioning are at or above our book. They would validate our pricing. We of course, you always get reverse inquiries on a regular basis at pricing that is not something you would even consider or transact on. The ones I'm referencing are only the ones that we would actually consider. Yeah. Understood. In terms of potential acquisitions, it sounded almost like you were perhaps looking at residential acquisitions in terms of perhaps building rights, I don't know, or actual portfolios. How do you view your position on the residential market? Is it still going to be purely construction in terms of development of your own building rights, or are you perhaps looking at other types of transactions within the resi space as well? Great question. We have been focused on our building rights, and the organic growth that we reference is our existing portfolio and where we have densification opportunities. Now that we have this improved liquidity, we are looking at how we might accelerate our transformation by buying existing residential buildings and existing income. What we're trying to do is obviously diversify our income stream away from predominantly retail. Any potential acquisitions would not be of building rights, because we have enough of that already in our pipeline, quite frankly, and would be of existing buildings with existing income stream. The other thing I would remind you is that, and we've mentioned this in the past, we have sufficient building rights in our portfolio that we could also use some of that as currency, if we wanted to transact, because we have a lot of, again, reverse inquiries from residential developers who would be interested in buying or partnering up with us on these building rights. Frankly, we're not focused on selling those building rights at this point, but we could potentially use them as currency to JV or look at other opportunities to acquire some existing residential units and existing income stream. It's kind of a two-prong approach, if you will. We have our organic piece, and then we have potential acquisitions as a way to accelerate it. Okay, good. Thanks. My final question is regarding like-for-like NRI development. You mentioned that it's progressively getting better as we're moving along. Does that mean that you think that you could end up in a positive like-for-like development for the full year this year, or is that still too early to sort of make any decision or any comment on that? Well, we certainly hope so, that we would end up positive. As you can see, we are already very near, so it's not by any means impossible that that would be the outcome. We haven't given any guidance on the like-for-like NRI. Yes, we are very close at least. I think, again, as Eero mentioned in the presentation, Q1, we were up against pre-COVID numbers, then starting in Q2, we're starting to compare kind of apples to apples, if you will. We haven't provided any guidance, but I think it's our anticipation that we will continue to see this improvement that we're seeing quarter-over-quarter. Yeah, because you did make a comment about the fact that footfall was, if I understand it correctly, or turnover in terms of the tenant base was back at 2019 levels. If that continues, that should by all means mean that like-for-like development for 2021 versus 2020 should be positive. Absolutely. Or am I- Yeah, no, I would agree. Yeah. The month of June was at 2019 levels. If we're fortunate enough for that to continue, and again, some of this is dependent on macro conditions with the Delta variant and other things outside of our control, but if that trend were to continue, then I think your assumptions are accurate. Okay. Thank you so much for taking my questions. Yeah. No. Thank you for the questions. Thank you. Our next question is from Robbie Virdee of Green Street. Please go ahead. Morning, guys. A couple of questions. Just on the expediting your strategy of diversification through densification. You talked about new strategic acquisitions. Firstly, where would they be? Would they be adjacent to your existing shopping centers? Is that where you're primarily looking? Secondly, capital requirements for those, and also for realizing those EUR 220 million of building rights. With the new acquisitions, is it purely through capital recycling, or are there other ways you're looking at funding this? How do you get that EUR 220 million of building rights? How much CapEx is required for that? To answer your first question, we will be focused in the markets that we already operate in. We're not looking to go outside of the major cities in the Nordics where we already operate our business, because we know those markets well. We already have boots on the ground, if you will. We understand the markets. It makes sense for us to look at opportunities in those cities. We're not looking at this point to grow outside of that. Ideally, they would be close to our assets. That being said, if we found something in suburban Stockholm that wasn't next to one of our assets, but was still within reasonable driving distance, we obviously would absolutely take a look at it. The challenge in it is obviously, I'm not telling you anything you don't already know, Rob, but the challenge is obviously, as we look at these acquisitions, yields are lower than the yields for our existing portfolio. That being said, we do believe that between the densification and what we're doing with our existing assets, along with any potential acquisitions, when you put those together, I think at the end of the day, the company should trade at a lower yield overall. I think there is a benefit to the macro portfolio. Again, we're not deviating away from our key strategy of densifying our sites. We're just simply trying to figure out how do we do this quicker. We've got Lippulaiva coming online next year, so I think that'll be a big deal for us, and I think it will also show the market and be a great example of what it is we're trying to accomplish and how this all kind of fits together. Quite frankly, we'll start to see a diversification in our income stream when that comes online as well. I took so long on the first question, I forgot what your second question was. Can you repeat, please? It was on the capital requirements for realizing the EUR 220 million, and also how you'd look to fund any of these potential acquisitions. I think, potential acquisitions, I think, capital recycling is the way that we've identified the opportunity at this point, and I think that will continue to be a lever that will be available to us, particularly as the transaction market opens up and we're seeing more and more activity. In a presentation we saw yesterday, I think there were more transactions in Q2 or the first half of this year than there have been historically in the markets we operate in. Clearly, the transaction market is opening up pretty significantly here in the markets we operate in. I think recycling of capital is the predominant way we'll look at this. As Eero mentioned, we do have money. We have plenty of liquidity at this point as a result of the hybrid. We could put some of that money to use as well. We also could use those funds to pay for the remainder of Lippulaiva. As Eero mentioned, we could also use those funds, if we don't find the right acquisition, and we're going to be very diligent and deliberate about this, just as we've stated and how we've been on the disposition side, we will be equally deliberate on any potential acquisitions. It will have to make economic sense for us. If we don't find something, then frankly, we could pay down debt and further reduce our LTV, if that be the case. I think, we're in a strong position right now as we look at all of this, and we have plenty of options available to us. As it relates to the funding of the development rights, again, I'll remind you that securing these development rights is relatively inexpensive. I mean, it really is more time-consuming than it is capital-intensive. There's not a big expense or a big capital outlay associated with securing these building rights. Once you get them and you start to construct, then obviously, then you have to start spending money, and at that point, then you have to decide, are you going to do it yourself, or are you going to JV it, or what are you going to do? What we're finding, quite frankly, Lippulaiva, I think, is the one we pointed to in the past, where we sold the rights to 2 of the buildings, and then we're developing 5 of the buildings ourselves. Now we have 1 remaining, and frankly, we've decided we're going to probably build this 1 ourselves as well, just because there's too much upside that we would give away in a potential JV. Frankly, we now have the financial wherewithal to build this last one ourselves as well. We're getting a lot of interest in all of the resi, not just the stuff we're building, but also the condo developer who's building the other two has indicated that they're doing quite well in terms of their sales. There's a variety of levers here for us to pull. Thanks, Scott. May I just ask one more? How much of your income stream do you think needs to be diversified away from traditional shopping centers before the capital markets start to reward you? Honestly, Rob, you're probably a better person to answer that than I am. I would correct one thing you said. You said traditional shopping centers. We are not traditional shopping centers. I know you know that's a pet peeve of mine, but we are grocery-anchored, necessity-based. We're not fashion-oriented. As it relates to when will the market recognize that, again, you probably frankly know better than I do. When do you think? I think we have said at the end of the day, we think we're probably going to be kind of half and half. We'll see at that point. We would argue, and I think beginning to see some green shoots around the fact that the model that we already have deserves a lower yield than traditional retail. I think, hopefully we start to get some credit for that. When you layer on that, the residential, hopefully it all comes together and at some point, the market recognizes it, but we'll see. I think what we've stated in our previous presentations is we're looking to be roughly half necessity-based, grocery-anchored retail and half roughly residential. Great. Thank you very much. Sure. Thank you. Thank you. Just a reminder, if you wish to ask a question, then zero oneon your keypad. There'll be a brief pause while any further questions are being registered. There are no further questions at this time, so I'll hand back over to our speakers. Thank you for all the questions, and if you have any more, please contact Eero, myself, or the rest of the investor relations team. Thank you attending for the call, and we wish you a very nice day. Thanks, everybody. We appreciate your time. Thank you.