Good morning, ladies and gentlemen, and welcome to our usual investor call on our Q2 2022 trading and operational update. The investor call will be opened by Carlalberto Guglielminotti, CEO of NHOA Group, and with him to explain all details about the quarter and the full year main KPIs will be Giuseppe Artizzu, CEO of NHOA Energy, Stefano Terranova, CEO of Atlante, Gabriele Tuccillo, Chief Integration and Strategy Officer of NHOA Group, and Mr. Alessio Caruso, Deputy CFO of NHOA Group. Guglielminotti will open the call and then will leave the floor to Artizzu for the global business line storage, and Terranova for Atlante, the EV fast-charging infrastructure business line. At the end of the call, the management team will be available to answer all questions you may have. Please note that this investor call will be recorded. If you could not attend the whole call, the webcast and the presentation will soon be available on our corporate website on the dedicated page. Please note that all participants will be in listen mode. If you wish to ask a question, you may raise your hand or write in the Q&A chat if you are connected via Zoom, or if you are connected via call, enter the queue by pressing star one on your telephone keypad. Before we begin, I just want to point out that any forward-looking statements made during today's call are subject to the risks and uncertainties mentioned in the safe harbor statement, which is included on page two of today's presentation. This also includes the risk that the transactions discussed during today's call remain subject to standard conditions for this type of transactions, as well as any other risks and uncertainties associated with the execution of transactions of this type. As customary, the call will be governed by that plan. With that, I will leave the floor to Carlalberto. Thank you very much, Chiara. Good morning, everyone. Well, let me first elaborate, even before discussing the results of the NHOA Group on the context in which this extraordinary growth has been achieved. We all know how complex 2022 has been for anyone in every sector. 2022 started as the first of the post-pandemic, in February, a war hit the world like we haven't been used to seeing for a century, the conflict in Ukraine. This also had consequences for NHOA Group in terms of raw material procurements, cost of financing, and components procurement for all three of our business lines. Needless to say that the support of TCC, our majority shareholder, has been vital in the last 12 months and will continue to be crucial in 2023. Here we see the benefits of being part of a larger project which goes well beyond the NHOA's equity story. I mean, a project that will embrace a long-term vision which we share with TCC on a broader commitment towards our people, towards our planet, towards our future, towards all our stakeholders. 2022 has been a year full of consequences, it comes to a crucial historical moment as never before in the wake of an unprecedented series of political, economical, and social circumstances. This year, to give an idea, I had the privilege of contributing to some of the works of the World Economic Forum, but at the same time, I was able to realize the complexity of the year we have lived, and the NHOA has lived. I mean, all humanity risks losing the fight against climate change and missing the opportunity to really invest in mitigation and adaptation policies and actions due to the current global economic crisis and the intensification of geopolitical tensions, I mean. With an economy that, in the meantime, has faced a sort of paradox because it has continued to grow in terms of numbers, but it had to suffer the blows of a rising inflation and energy crisis. A crisis that is being defined as the worst ever by the International Energy Agency. More serious even than the oil catastrophes of the '70s. Well, our results must be read in this context. They're built around the three axes of the energy transition that are the three axes of the NHOA Group. Number one, the context of a group that meanwhile, with its energy storage business line led by Giuseppe Artizzu, NHOA Energy, is competing on a worldwide scale against giants like Tesla, Fluence, NEC, and Wärtsilä. That in 2022 has delivered five times the 2021 revenues, leading to a triple upward revision of our revenue guidance over the course of 2022 to eventually beat even our last upward revision that was slightly above EUR 160 million revenues. The second axis, the context of a group that meanwhile, with its e-mobility business line led by Mathilde Lheureux, so Free2move eSolutions, is competing first and foremost against the necessity to serve its most important customer, and by the way, shareholder of the joint venture, which is Stellantis, one of the largest car maker of the world with world-class products to be developed at record speed. Record speed that's generated also some collateral volatility in the execution strategy, like it happened in these circumstances, like the change in the Free2move leadership in the middle of Q4. In the context of which we remember that we announced with our November trading update that in order to drive the electric vehicles market evolution and potential, Free2move was first reshaping its operations to focus its portfolio on the short term on sales through different channels of eProWallbox, then will mainly devoted to fulfill the Stellantis customer needs. Secondly, we announced also that this new direction would have led to a slowdown of the revenue growth in this transition phase until the Q1 2023, before setting the so-called new impetus and acceleration of growth and profitability from the Q2 2023 onwards. We also announced that the streamlining and refocusing effort was and still is fully supported by NHOA Stellantis to pave the way for a sustainable future for Free2move eSolutions growth. Starting from Q2 2023. In all core markets, which are Europe and USA. This is the reason why Matilde is not here today. I mean, we are in the middle of this refocusing effort and transition phase, and we already announced the growth that will be starting from the Q2 this year, and we are at the beginning of the Q1. Please be patient. Give us time to do what we promised, and we will revert to you with the outcome of our efforts. We are referring with Free2move, we also announced today a restatement of our revenues. I mean, a restatement of our accounts in terms of revenues that is immaterial for both our 2021 and 2022 financial results, meaning that irrespective of these restatements, we would have achieved our 2021 and 2022 guidance in any event. What you can clearly see here is the NHOA Stellantis commitment to be extremely disciplined in recognizing our errors, our weaknesses generated by the speed required by the market, but at the same time, our commitment to make this amazing JV happen successfully with full trust in Matilde, who is leading as new CEO, Free2move eSolutions. Then a third axis, finally, a group that meanwhile with its infrastructure business line, Atlante, has the ambition to develop the largest network in Southern Europe of electric vehicles, fast and ultra-fast charging stations. Competing on a daily basis with the national incumbents in Italy, Spain, France, and Portugal, which by coincidence, are also the largest utilities of the world and oil players of the world, like Eni, EDF, Engie, Enel, Total, et cetera. Atlante you see today has over 2,000 points of charge online under construction. Is a result that is beyond any expectation, seeming definitively to be on track with the ambition to become the largest EV fast charging network in Southern Europe. Yes, our M&A activity obviously contributes materially to those numbers, like the KLC acquisition in Portugal. I think Atlante demonstrated in the last 12 months to be able to develop the network organically at an unparalleled speed. The 40 M&A activity is simply a testament of the solidity of Atlante, showing its capability to develop a record speed with both organic and inorganic growth, thanks to its world-class management. In short, before leaving the floor to Giuseppe and Stefano, I give you the usual general overview of our results. I mean, we already discussed about the difficult scenario that we managed in the context of which we managed to achieve impressive results. This disrupted supply chain didn't stop our extraordinary people from making things happen at Group level. As I was saying before, 2022 revenues reached over EUR 165 million, so over 5 times our 2021 revenues. Energy storage, as I told you many times before, is the driving force of the whole Group, the backbone, the history and the future at the same time of our growth. We have over EUR 300 million backlog of orders, 1.5 GWh of project under construction all around the world in 5 continents, with our colleagues traveling from U.S. to Australia, from Peru to Taiwan and back to Italy sometimes. We've EUR 1 billion pipeline of projects. Atlante, on the other hand, was not just installing points of charge. I mean, at year-end, we counted already over 2,000 points of charge online under construction. The pipeline of new sites of over 2,700 clearly in accelerated mode compared to 2025 targets. This is the reason why 2023 growth is right in front of us, we can share with you a very clear guidance. I mean, revenues at group level ranging from EUR 220 million-EUR 280 million. NHOA Energy, our global business line for energy storage, will not only be EBITDA positive, we step up in terms of maturity of our financial communication, we announce a guidance between EUR 5 million and EUR 10 million of positive EBITDA. Atlante will push the development of its network even further, I mean, reaching over 3,000 points of charge online under construction by the end of 2023. In all these amazing results, what I really think is important are actually the three numbers which are missing from the table in the press release and in the slides. I mean, the number on which the financial community is not really looking at, but are the most important ones to me, which are the fact that today we are over 450 extraordinary people, strong majority engineers, many PhDs. We do have a unique technology team that nobody has in the market, with 36 different nationalities. That over the last 10 years devoted their lives and their commitment to make this world a better place for next generation. Embracing NHOA, embracing our values, embracing our vision and sharing goals and objectives. The ones I told you about are their results, not only mine or Giuseppe's or Stefano's. They are results made possible by our extraordinary people that I take the opportunity to thank you, and this is what I'm proud of every day. Let me say today more than ever. Having said that, as usual, I hand over to Giuseppe to give us his insights about the results of NHOA Energy, our global business line dedicated to energy storage. Giuseppe, the floor is yours. Thank you, Carlalberto. I mean, NHOA Energy's results are in front of everybody. We achieved revenues that significantly exceeded our rosiest expectations in 2022. In the H2 of the year, in particular in the last quarter, we have seen a significant acceleration in origination, so in new order intake. This is important because it's a sign that the industry has adapted to the volatility in commodity prices. You may remember, when doing the conference call earlier in 2022, that we were managing the market expectation about the ability to bring in projects in the first six months of the year because of the challenges in fixing project prices with our client, as we had up pressure from upward in the value chain to index the price of our project to volatility in the commodity prices in the battery materials. We seem to have stricken a good balance in our location on commodity risk, and the effect is that new contracts are flowing at a very satisfactory rate. We are closing 2022 with over EUR 300 million of backlog, and our order intake in 2022 overall has been at EUR 240+ million. This is very remarkable because it clearly says that the acceleration that we had in 2021, it was not an accident, it was part of a trend. Importantly, consider that around 75% of this order intake is coming from related parties. 2021 benefited from a very significant commitment to energy storage by our shareholder. Around 50% of our order intake in 2021 was actually from related parties. This is something that we care a lot. I mean, our reference compatible company in the market is Fluence, and Fluence is often pointed by investors, analysts for its dependence on AES as a shareholder and client. We very much care about a strong balance in our order intake between related party and third party clients. What I can say is in 2022, over 70% of our order intake is coming from outside, the extended NHOA Group, let me say. In terms of installed capacity, we brought three projects to ready to backfill. The three large ones that we have that we originated in 2021, that are the project with Synergy in Australia and the two project with ECC, they are still in either in commission in advanced contruction phase, so they are not reflected in this online capacity. This number of online capacity will see an acceleration over the next six months as the projects that we have built and made our revenues in 2022 will actually be physically interconnected to the grid and commercially exchanging energy with the grid. Project under development. In total, we are building over 1.3 GWh of projects. This is a huge figure. It spans all continents. We have large projects in Asia, in Australia, in the United States, in Europe. We are operating across four geographies. We are strengthening our local execution capabilities in the four regional hubs that are Milan, our operating headquarter, Taipei for Taiwan and wider Asia, Perth for Australia and Houston for the Americas. We are strengthening our execution capability and our risk control capability. This is also giving us ability to service our client properly and of course to boost our origination capacity. From an origination perspective, as you see, we have a very discipline growth in pipeline. This is a sign of discipline on one side, but it's also a sign that the conversion rate of pipeline into backlog, so our ability to convert tenders into orders is actually better than we were envisaging. This is important because it's, we have to manage our growth in headcount and we have to balance the demand from execution and the demand for origination. So the ability to feed our backlog in a profitable way and in a efficient way from an origination perspective, it's very important in terms of managing our growth from a revenue and from a profitability perspective. We convert the three projects in which we were shortlisted in the last part of the year. We have largely replenished that. This indicator of shortlisting is a partial indicator because the average size of the project for which we are shortlisted is also a relevant metric. We continue giving this metric, even though I like to manage a little bit the perception of significance of this metric. First there are situations in which win-win projects without a shortlisting phase. Second, the size of the project which we are shortlisted also significantly affect the underlying significance of this metric. So far so good. We are entering in 2023 with a major inertia coming from the end of 2022 from an execution, from an origination, and from an operational growth perspective. We look at 2023 as a year of confirmation of our ability to execute projects on time and on budget, fulfilling our profitability targets, while at the same time, boosting our origination and execution capabilities in view of even more ambitious objectives for 2024 onwards. Carlalberto, back to you. Thank you. Thank you, Giuseppe. We can now move to comments on the Atlante results. I immediately give the floor to Stefano. Thank you. Thank you, Carlalberto. as you can see, and as Carlalberto has anticipated, we closed 2022 with amazing results in terms of network development. Let's be clear about that. In the end, the main challenge we had during our setting up period, the setting up year, 2022, was the ability to generate enough leads and convert those leads into sites which would then transform into stations, into fast charging stations. That was a massive challenge for all of us at Atlante and together with some support from NHOA as well, we managed to overcome the challenge, I would say brilliantly. As you can see, the numbers speak for themselves. At the close of the year, we had more than 2,000 fast charging points of charge online and under construction. Obviously, the majority of those would be under construction, given the time it takes to build up the fast charging stations. Spread across more than 500 sites across the four countries. We have increased pretty much all of the metrics that we report, with one exception that I will explain briefly. You can see that the EV based and stationary storage equivalent went down slightly. This is because we had not planned to install storage at the stations yet in 2022. The rollout of storage at stations will start in 2023, in fact, in Q3 and Q4 2023. We had to decommission the pilot phase of the Drossel project. We removed storage. The other figures show all the very important growth. Most importantly, as you can see from the map, we have a good coverage already for a network that in our ambitions, has to be very much comprehensive and allow citizens in the 4 countries to travel freely among within their own countries. Also, if they wish so, that they can travel across the four countries. That, that's of Atlante set up with, as I said, very high ambition, 35 points of charge by 2050. That means a very, very comprehensive network with the, which will allow as I said, us to accomplish our mission of a free mobility, freeing up the mobility in zero emission. In terms of Carlalberto also mentioned inorganic growth. I personally believe this is, even though we achieved it through M&A, I consider it as part of our planned growth in the sense that, of course, we need to have strategies to acquire sites at scale. And one of those strategies, one of the pillars of the strategy of the let's say, the multi-channel strategy for site acquisition, is to carry out some controlled acquisition of smaller players, which as the case would be, had, I would say, boldly started this business at, before Atlante was even created. They have done their part in the sense of fostering e-mobility. Let's say they have run out of resources, and that's where we take on the baton and we continue the race. Of course, also improving the assets that we will purchase by installing more fast chargers, installing storage wherever possible, and even solar canopies, again, where it is possible. I'm talking about in terms of these two acquisitions that I'm talking about, you can see the logos in the slide. KLC in Portugal is the biggest. This was announced before the end of the year. We have signed the documents, the binding documents for acquisition of 60% of KLC before the end of the year. We are just about to complete a few last requirements before we can actually take over the 60%. The most important requirement was an antitrust procedure, which was required locally, and we have almost completed that successfully. As we already mentioned when we announced the transaction, the transaction also foresee that we will purchase the remaining 40% of the share capital of KLC sometimes in 2024. This is important transaction. Why? Because Portugal is a complex market per se. Just to give the most important feature of the difference between Portugal is normally the CPOs cannot sell directly energy to the customers. The energy is purchased and resold by the EMSP players. We will have to work around. We will have to create also an EMSP play in Portugal to make sure that we can serve our customers just as well as we plan to do in the other countries, always with green energy, with the regulated prices. We decided to fast-track different sites by acquiring KLC and focus our development efforts more on the business model. That's, I would say that's absolutely great news, and I compliment my team in Iberia, Giovanni Fiolo, CEO of the geography, in the KLC partnership and implement. This would really boost our network in Iberia and together with the rest of the countries. We recently announced another small acquisition along the same vein of acquiring a small, smaller player, but still important that have courageously started a business way ahead of ourselves. Again, now they have done their part of the mobility revolution, and we have to continue their work. In this case, we have announced the acquisition of 100% of the e-mobility branch of Resola. Resola is a small, regional entity in Italy, already well committed to energy transition via, for example, EPC in various renewable plants. They had started an e-mobility charging business, and they have decided that they would sell the business to us via... In this case, we're not purchasing a company. We're not acquiring a team of people, which we do not require. In Italy, we have a strong team already, and therefore, we will just be acquiring assets as soon as the conditions present for the transactions are completed. Yes, we obviously, technically speaking, are inorganic, but they pretty much form part of a well-planned network expansion plan that, as I said, in our strategy, we have several channels. For example, as you might remember, we have also dedicated resources to participating in some public and private tenders, mainly public. When I say public, we also include concessionaries of public assets. Now, in the case of Italy, unfortunately, the situation is still not clear. We cannot participate, for example, in the tenders for motorway for position in the highways. This has not been fully cleared. We have participated in tenders in France, in the highways in France. We're expecting the next few months to be able to report some good news. Overall excellent setup for the year ahead, which allows us also to give a guidance in terms of what we expect to be at the end of the year. At the end of the year, we would expect to have 3,000 points of charge, fast charging only in terms of online and under construction. That means, of course, a 50% increase on what we have today. Of course, you might also notice that the pace of increase is slightly less than in the past, but that is because during the course of 2023, we plan to perfect the timing that it takes us from origination to opening of the stations. So initially, of course, we had to deal with a lot of learning curves, especially on the delays that we need to incorporate in our planning for opening up of medium voltage stations, where there is a lot more work from the distribution companies in terms of, obviously, of connection and building up substations, which normally is our responsibility, but needs to be done in coordination with the distribution companies. Having learned and having incorporated those long lead items in our planning, we plan to have a stock of sites under construction, which is not as big as it is now, relative to the overall picture. I would say we would keep a stock of the next 6 months of those stations to be opened rather than more 12 or 15 months that we currently have. That's the plan. Of course, if during the year we understand that we cannot shorten those time frames, then we will increase the stock of stations under construction. I think that's it. Unless Carlalberto wants me to speak about other topics, I would say this encompasses the great achievement in 2023. Of course, I would add, in fact, one more topic. We cannot express the same kind of development in numbers as we do for the network. In parallel, of course, Atlante in 2022 accomplished many other tasks in the sense of building up the development platform. First of all, people. We have crossed the 100 people mark. We have now 100 Atlantes. We started with gross model 10, 15 last year. Almost 10 times, tenfold increase in professionals. We have opened up offices in all four countries. Of course, we set up, most importantly, the digital platforms that allow us to run the station perfectly well, monitor the functioning and, most importantly, we also are progressing very well on building up the other platforms which are quite unique to Atlante. For example, the energy management system is a platform that we have originally inherited from NHOA, and we have transformed into a very sophisticated tool to manage the energy flows between, for example, the batteries at our stations, the charging requirements, and sometime, whenever it is possible, the solar canopies, as well as, of course, interacting with the grid. That's it. A year of great success. The most important figure is what you can see in the development of the network, which frankly, as I said at the very beginning, was the biggest challenge for a company coming with no background in real estate development. We have overcome that the big challenge, including, of course, by hiring great professionals with a lot of experience. I just mentioned one name, Jacques Galvani, my CEO of Atlante France, has an amazing background in real estate development and therefore he brought a lot of competencies and a lot of experience in that sense. Thank you, Stefano. Thank you very much. Thank you, Stefano. I think we can now move to the Q&A session. Together with Giuseppe and Stefano, together with Alessio for all financial aspects, we are ready to take any question you may have. Clara, the floor is yours to open the Q&A session. Thank you very much. We are now ready to open our Q&A session. Remember that if you wish to ask a question, you may raise your hand here on Zoom, or you can enter the queue by pressing star one on your telephone keypad. We already have a few questions lining up. I will just first ask you to open the microphone to Mr. Pozzi from Mediobanca. Please go ahead. Good morning, all. Thank you for taking my questions. 2022 certainly a strong year for NHOA. It looks like 2023 is going to be another strong year in terms of growth. I have a question for each of the division. Maybe starting with an easy one on the battery storage, that would be what are the assumption and the P&L in the top end of the revenue guidance for 2023? The second one is on e-mobility. I appreciate that you're going through a bit of a change- I'm sorry. I think that there is a problem with your microphone. We cannot really hear you very well. We cannot hear at all? No, we can hear, but it is very loud and there's a lot of kind of, noise. Really? All right. I'll try to be slower maybe. Yes. Maybe try to take some distance from the mic because. Yeah. It sounds like you're speaking too close to the mic. Okay. That's fine. I understand. I understood your question, you don't need to repeat that. Okay. That's fine. We can start. That was it. The first- On e-mobility, I didn't get the second one. Giuseppe get the first, fantastic. I didn't get the second one that was on e-mobility. If you can kindly repeat. On eMobility, I appreciate you're going through a bit of a change in the commercial strategy. But that is going to be a key part of the equity story for 2023. I was wondering if you can give us a bit of more color on how that change is going through the business at the moment. What sort of growth, even on a qualitative basis, you're expecting from eMobility in 2023? The last question on Atlante. I was wondering how important is L.A. for the growth of the business in 2023 and how many sites you have acquired with the recent acquisitions and how many sites you plan to have under development by the end of 2023 as well? I hope it's clearer now. Yeah. We get it. Thank you. Thank you very much for your question. I first send over to Giuseppe for the first question that was related on storage, and then I will take the second one, and then I'm handing the floor to Stefano for the third one. Giuseppe. Thank you, Carlalberto. Thank you, Alessandro, for the question. What are the main underlying assumptions that we are giving as far as the stationary storage business is concerned? From a revenue perspective, we have a EUR 300+ million backlog, and which is higher than the aggregated guidance that we are giving for the group. We have an extremely high level of visibility on top line growth. It is basically a matter of timing of conversion of our existing backlog without considering potential revenues coming from projects that won in 2023. While 2023. While it is... I mean, most of our revenues for 2023 will come from conversion of existing backlog. Projects that we may win over the next three-six months may still even contribute positive. Largely, from a top line perspective, we have an extremely degree of visibility on growth. From an EBITDA perspective, the same applies. It is a conversion of, let's call it, EBITDA backlog, with two important qualifications, however. First, we need to keep a range, because while we have full control on our execution, having some cost overrun, some variation in currency, some variation in price of components, obviously. We need to, we need to keep a relatively ample range of viability because it is our business. We execute projects on a turnkey basis, and not everything goes always right. The second, there is another element. While top line is unequivocally is an element of success, EBITDA growth is a trade-off between converting the gross margin that we make on projects in direct EBITDA or investing part of that in building up our headcount and talent pool in order to deliver 2024, 2025. This is what is behind the guidance for EBITDA. It is conversion of our EBITDA backlog, educated for, on one side, factor in the chance that something may not necessarily go right on project execution, and most importantly, try and leave space, and we will find out during the year how much space we need to accelerating the growth in headcount in order to be able to originate and execute projects looking forward to 2024, 2025. What are the key projects that could swing the revenue in 2023? The projects that are more meaningful than others in terms of volume contribution? Largely, our project portfolio, the last projects that also are the largest from a margin contribution perspective are in the public domain. We are closing the commissioning of the Synergy project in Australia. We have two large-scale projects in Taiwan in advanced execution. Two of the newly awarded projects in the Q4, one is the other project in Australia. Another one which is not public yet that is in Asia. Those are the big margin contributor. Without forgetting the other projects that we have in the United States, in particular, in the Americas in general, there are very profitable projects. I mean, from a relative contribution perspective, the projects that I mentioned that are in the public domain, this is what is going to make our, largely our gross margin and the for large part of our EBITDA in 2023. Thank you. Okay. Let me take the second question on e-mobility and the kind request to get some color on the new strategy. I will remain really on the color perspective because, again, as I said, you have to be patient because particularly when it comes to a company that is a joint venture between NHOA and Stellantis, we have taken the decision to be extremely prudent, extremely disciplined, and extremely focused on the refocusing plan and extremely committed to deliver what we promised to the market. Revenues growth that will start on a profitable way from the Q2. Okay? Again, this refocus, to give you some more color, I can use the word that I used in the November press release, in the November trading update. If you look to that communication, we mentioned the refocus effort of our portfolio. Okay? On the short term, certainly on the eProWallbox. Okay? And the second, let me say, important word was Stellantis customers needs. Okay? Free2move was born with the intention to obviously serve Stellantis customers, but also to serve other customers. Other customers that not necessarily are out of the Stellantis ecosystem. I give you an idea, one of our core markets that we announced is not just Europe, but also USA, okay? In USA, you know, the development of electric mobility has been slower compared to Europe for many reasons. In that context, when we talk about the U.S., you can easily imagine that the first electrification that U.S. have to do is on dealers, on infrastructure and so on. While in Europe, which is a more developed market, the focus is on Stellantis customer needs and the four AC charging and the four residential application for people, for EV drivers, okay? That are buying a Stellantis car. While in USA, you can easily imagine that the focus is the first electrification of the most important infrastructure that you typically do in every beginning, which is dealers and infrastructure in general. Meaning that you might see more residential AC charging in Europe, while more faster and DC charging in the U.S. What I can tell you is that none of these words that we used in the communication of the November trading update has been written, let me say, in a easy way. Any single word has a very important weight. First, the Stellantis commitment together with NHOA. We continue to strongly believe in. We do see clearly the brand's appetite for our products. We see clearly the first orders that are giving us confidence in what we promise to the markets, and confidence on the fact that the refocusing plan that is currently on execution under the leadership of Mathilde Lheureux is working. It's working. The only real color I can give you is that the refocusing plan is ongoing. ePro will be crucial in the brand's development within the Stellantis strategy, within the Stellantis perimeter. U.S., we have clear signals of growth potential in the coming weeks and months and therefore we are committed more than ever. I see a clear commitment from Stellantis, ironically, one of the highest one I ever seen in the last year and a half. Focus, focus. Please be patient. Growth will restart from the Q2. Please expect communication in that sense with the output of our, of our job and the output of the commitment of Stellantis and NHOA to be very disciplined. I mean, you've seen the restatements, but very focused and very committed to make this amazing JV happen, as I mentioned. It didn't really change. Obviously, we would have loved to see the growth there in 2022. It didn't happen. It doesn't change the plan, it doesn't change the vision, it doesn't change the fundamentals. Okay? When you have to follow the market at that speed, to follow the customer needs at that speed, and you play with in one shot with 25% of the European market, then 16%, 17%, I don't remember precisely the market share of Stellantis in the U.S. I mean, you can make no mistake. Okay. In one shot, we can achieve the highest market share in e-mobility that no other players, even the independent players that are listed in the U.S. with hundreds of millions and billion market caps. I mean, in one shot, we are in the position to rank number one in Europe and rank number one in the U.S. as well. We cannot fail. We don't wanna fail. The strategy is clear. That's the reason why. I mean, we accept it, what happened in 2022. We decided to. We agreed on a leadership change which we strongly believe in. Team is there. The focus is there. Therefore, with a bit of patience in the next couple of quarters, you will see the results of that and a contribution to the NHOA Group growth that everybody expects, and that we believe in because even our guidance has, in the middle, obviously, a contribution of Free2move eSolutions. I leave to Stefano, the color on the portion of the science acquired and the portion of the science or organically developed. Stefano, back to you. Yes. Yes. Thank you. Thank you, Alberto. I think the question was manifold. The first sub-question was how important the M&A would be in 2023. The current instructions for my team is that no additional M&As in 2023 because we have a full backlog of many other things to do. We have to be careful with our resources. Our time is limited, and our plan and our mission is very ambitious. We have to keep focused. In 2023, we do not plan to make additional acquisitions. We will keep our eyes open and we can act very fast with one part of having built such an important platform so quickly with experts and professional in all fields of our business means that we can react very quickly to opportunities. We can do most of the due diligence in-house. When I say due diligence, meaning the real stuff, going and checking the stations, opening up the hardware, making sure that the software works, et cetera, et cetera. We can do that. If, if the opportunities will present themselves, we will react, or we can even proactively act. The plan is not to do other M&As in 2023 because we have a very, very strong pipeline between the M&A we just conducted and the rest of the work done in the past 12 months. That's, in a nutshell, we don't plan to do more in 2023. It gave us an important boost on sites. I would say approximately of the 2,000 points of charge online and under construction, the two M&A operation represent approximately one-third. It's an important boost, make no mistake. Which allows us to be ahead of the curve with respect to where we want it to be. To adjust it or to stay within our targets. We don't need to run as fast as we have done in previous year. The while we will increase the pace of increase is 1.5 x rather than 3 x, roughly. I would expect there to be, as we said, more than 3,000 points of charge online and under construction. Therefore, as a comparison, there would be, I would say, between 4,000 and 5,000 sites under development. Sites under assessment. This number, though, is my current philosophy, and this is bearing in mind I have been, as of now, I'm acting as the Chief Growth Officer title. As you remember, we divided some of the roles with the existing senior management team as we build up the strength of the organization. In the next few weeks, in fact, yes, very brief, in two weeks time, we will onboard a new chief growth officer who comes from a very important background in developmental sites. Therefore, I would expect that our new colleague might have a different approach, maybe more sophisticated. My approach was a little bit less sophisticated in the sense that I wanted to see a very large pipeline of options, and always careful and always believing that there would be a high mortality rate in the sites under development. Maybe there's a possibility that the new Chief Growth Officer would have a more sophisticated approach and target a more reasonable ratio or let's say only on board in the pipeline sites that have a less a lesser mortality rate. Currently, just to make it short, I would expect under my old philosophy, we would end up with 4,000 or 5,000 sites under development. If, under assessment, if we change, if we become more sophisticated, maybe the number will decrease, but doesn't mean that we will slow down the pace of growth. We will just be more sophisticated. Very clear. I'll turn it over. Thank you. Thank you. Thank you very much. We now have other questions lining up. I think that we have Mr. Paul. I do not get your surname. I will just ask you to open your microphone for your question. Hello. Do you hear me? Yes, perfectly. Thanks. Thank-- Congratulations for those good results. I would have two questions maybe. The first would be on the financing of Atlante. If you could provide us any information on how it's progressing. Another question, Atlante again. If you could provide us some information on what metrics... I know it's a bit early, but what kind of metrics you can start to see in terms of the utilization rate, et cetera? If you think that the guidance that you provided in terms of possible profitability are still achievable despite all the challenges like increase in electricity prices? Thank you very much. Thank you. Thank you very much, Paul. This is Paul, just to clarify, it's Paul from Bryan, Garnier & Co. On your first question, financing of Atlante. I mean, we have been very clear in the context of our regulatory filings, and this is the reason why when some leaks happened in the Italian press, mainly, we issued company statements, it was in early January, clarifying that, I mean, the leaks that happened are, in reality, nothing more than what we have very transparently represented in our universal registration documents, in our company disclosure. First, we are constantly reviewing options to improve the shareholders value. The shareholders value. That's for sure, okay? And options to finance the development of Atlante, including the possibility of opening the capital to a third party. Okay? This is not, this is not a secret. The development of Atlante is today run with our own resources according to the resources devoted to that, in the context of which we raised very successfully the capital increase the rights issue a year ago, okay? Then obviously there are many options that we have in order, again, to finance the development of Atlante. We will keep the markets and the financial community posted on that. So far, we continue with our own resources. Obviously, you see the development, you see the accelerated path that Stefano has been able to create. You see that certainly the plan is well more advanced than we imagined a year ago when we launched the capital increase. This is obviously absorbing more cash from a timeline perspective. That's the reason why constantly improving and constantly considering all options we have. We are very confident for the simple reasons that, even if the Stefano. Directly on.[audio distortion] Sure. A difficult question when you say that how about given the energy crisis and the prices of electricity spiking in 2022? I will, without mentioning names, if you look at the most advanced markets, the... With not 4 countries, by the way, and that's by design. We are targeting the markets which are behind the curve to be there early enough and build out the network. In fact, company, the transition to foster and even accelerate the transition. We have to be a bit ahead of the actual demand in building out the infrastructure. If you look at most mature markets where the EV penetration rates are really quite high, players there in Europe, what do they do? They simply say, they say in the official communication that they charge a fixed margin on top of energy prices. There's which is the same model, by the way, that you could see in a petrol station. I hate to compare ourselves to petrol stations, but in this case it's a fitting example. There is a commodity, and everybody knows that the commodity has to be paid on top. The commodity price is just a pass-through. That's what happened in times of crisis. That's why most established operators last year have increased the pricing of the charging price. That's also what is believed will be long-term. Long-term, we also believe that these prices are not sustainable for the long-term development, economic development of Europe as a whole, let alone the industry. Our business. It doesn't often... I encourage you to look at the players which have established business and much of my report, the results, and pretty much they pass on the commodity element of this business to final consumers. Of course, again, at the macro level, the more we move towards renewables, the more we will be, let's say, insulated from shocks. Right now, the electricity prices are driven by gas driven. Why, if you had a portfolio of options which are all renewables, you should be able to have much more stable prices and perfectly insulated from gas prices. We're not there yet, Europe is moving in that direction. The utilization rate. Utilization rates currently are low-digit, in the single-digit, let's say bracket, percentage-wise, but this is what we expected. Perfectly in line with what we expected. In fact, we expect low, this kind of low utilization rates for the next couple of years as well. As the demand for charging increases with the EV park in the four countries, which is, let's remember that it is very small. It's tiny in Italy, and Spain even tinier. France is with a lot more EVs circulating. We haven't had the stations operating. In terms of opening up stations as fast as possible because of what I said at the beginning, this effect of fostering, accelerating, and promoting. Thank you, Mr. Amoroso, of Société Générale. I will just ask him to open his microphone and to introduce himself. Hello. Can you hear me? Yes, perfectly. Thanks. Yes. Hello, everyone. Thanks for taking my questions and for the presentation. I have three, which are from the three divisions, and mainly follow-ups on what you mentioned earlier on. The first one on storage, Giuseppe. You said at some point that when you were doing the guidance for 2023, you are factoring in the chances of project execution issues or delays. Could you be a bit more specific? Is it related to supply chain issues, to potential delays in commissioning? I.e., how do you see in 2023 and going forward, the storage market evolving, particularly considering the 2022 was in a certain way, a transitional year, with regards to inflation in components, shortages in some components as well, et cetera. That's my first question. My second one in e-mobility, I guess it will be for Carlalbert o. Very clear on what you mentioned as well as on your previous statements. However, should we or how should we look at the previous guidance that you communicated in the e-mobility front? Should we not take them into account going forward, or what should we take into account from this previous Masterplan 10x guidance on the e-mobility front? Moreover, you mentioned that Stellantis is now more committed than ever. Should we assume a joint communication with Stellantis perhaps and the Free2move eSolutions for their respective targets? That's for mobility. Third and last one is for Atlante. If I understood correctly, Atlante's objective in 2023 will be a bit more operational rather than securing sites. Just a simple question. How long does it take to open a station? Is this timeline evolving in a certain way? Are you expecting to start generating revenues in 2023 at the Atlante level? Thanks. Thank you. You can take the first question, Giuseppe. The floor is yours. Thank you, Carlalberto. Thank you, Guillaume.[audio distortion] Yes, we have communicated with in the context of the Masterplan, the joint guidance with Stellantis was on EBITDA breakeven in 2022. That in November we announced would have not been reached for obvious reasons, because the revenue level is not in line with expectations. It was impossible to achieve it. Having said that, in terms of color, many times we mentioned that in the medium long term we would have expected Free2move contributing approximately half of our total revenue base at the group level. In that context, on the breakeven, we didn't announce today a guidance for Free2move for the reasons that I clearly explained. We are in the middle of the plan, we wanna deliver and we will update the markets and our guidance going forward. Okay? We bring the results, we communicate on the outlook, right? Before having the results, it doesn't make any sense to guess and share with the financial market the expectations that are not based on solid results, which is the case today for both NHOA Energy and Atlante. We clearly believe that it's going to happen for Free2move, and once we will have delivered the results, we will communicate to the markets accordingly also the guidance and the outlook. Having said that, on EBITDA, yes, we didn't communicate, but if you look at the press release we issued with the November trading, we mentioned profitability. Okay. Profitability is a core value of our joint project together with Stellantis. Therefore, this is what we're looking for, and this is what we're looking for also for 2023. Do we have visibility now on that? No, we don't. That's the reason why we didn't communicate it with an official guidance on that. Certainly, this is a top priority along with the growth. Okay? By the way, achieving profitability for Free2move eSolutions is absolutely easier than compared to NHOA and to NHOA Energy because that's totally different, totally different company, product-based, higher gross margin, volumes driven, and therefore it's just a matter of, it's just a matter of making the margin for the products you sell in the respective quarter, which are higher than the fixed cost base, which is when volumes will achieve the minimum level, very, very limited. We have a gearing effect, which is very, very high. Obviously, we are not yet there. EBITDA will certainly not shine this year at the level of Free2move eSolutions for obvious reasons, but we are fully committed. On the joint communication with Stellantis, I mean, we are now in a different phase. We love making joint communication with partners and so on a few years ago, when essentially the credibility of NHOA was obviously relying on the credibility of our partners, right? You will remember at the very beginning, many joint communication with Engie, with Vanessa. Frankly speaking, now we are on different stage. We communicate our on a different phase of our growth. We will million revenues this year we are committed we do deliver and then we communicate. We don't need any joint communication. What we need is what we have on the table now, which is the commitment of Stellantis, the commitment of NHOA and the commitment to find solutions to make things happen. We will bring to you the Yes. Hi. Yes. You asked me whether this is 2023 is more about execution than origination. I would say in a sense, yes, there is more focus on execution. The balance of focus is more on execution and a bit less on origination, but we will be relentless in our efforts to originate more sites because the network we need to develop is gigantic compared to what even what we currently have. We cannot rest on the lower, so we have to continue pushing. Yes, indeed, I would say in the sense of the balance of focus, you correctly guessed that we will put more emphasis on the execution of what we have originated last year. You asked how long it takes to open up stations. It depends on whether the stations are connected to the low voltage via low voltage connection, which again, it depends on the country. In Italy, up to 100 KW of power is low voltage. Above is medium voltage. You therefore need a substation. In France, for example, as a country example, you can get a low voltage connection up to 250 KW. If you do need a medium voltage connection, normally the times are very long. Medium voltage connection, which are most of our stations, the times are quite long. They can go between nine and 12 months or sometimes longer. Whereas a low voltage station can be open in six, nine months or sometimes even less if the permitting is not so complex. there's a wide range of time frames. What is important is that we have created a large enough pipeline. We're following up scientifically this pipeline, and we know when the stations will come online, more or less. There are always some surprises, so you need to have a little bit more than what's strictly necessary according to your plans to deal with the surprises. Then you said whether there are learnings. Yes, there are lots of learnings on how to shorten the time frame. Right now it's not a gigantic topic, to be honest, because, again, we are dealing with a growing market, so we can afford to be patient for the opening of the stations. However, we have already studied the matter and our response is normally via technological angle. We have reviewed, for example, deployment plans for 2023, and we have, in wherever feasible and wherever made sense from also an economic perspective, financial economic perspective. We have, for example, swapped medium voltage connection for storage. With smaller connection, but a little bit of storage to provide the same experience for the customer, but with a shorter timeframe for delivery of the station. Revenue. Sorry. The other part is whether we expect to record revenues. Yes. This year would be... We made some revenues last year. You will see in the accounts. I had said it at the very beginning, if they come, it would be a nice surprise for 2022. We were not planning to make revenues. We made a little bit of revenues. Very happy about that. In 2023 is different. In 2023, we have targets. We have targets that go alongside with the development of the network in each country, and therefore each country will or each country's manager will be working hard to deliver the revenue targets. They are very tiny, again, compared to the NHOA figures overall. There's no need for us to give a guidance as such in 2023. Internally, you rest assured that we do have our own targets. Thank you. Okay. Thank you very much. Yes. I think we have just time for one last question. I will ask to Mr. [audio distortion] from, to unmute his microphone for the last question of the day. Yes. Thank you very much. Can you hear me? Yes. Perfectly fine. Okay, great. Many of my question has already been answered. Just maybe a broader question on your guidance range, which is pretty wide. Could you share with us the basis of your reasoning for both the low hand and the high hand of the range? Also, the underlying question is trying to assess what is your expected growth rate for the e-mobility segment next year. Thank you. Thank you. Thank you for your question. Obviously, the guidance has been structured in a very sophisticated way with a series of scenarios that we shared also at the board level. The main is built on a series of on a series of different configuration of low and high for both new energy and Free2move eSolutions. Even Atlante certainly a major contributor unless some positive surprise. Atlante is not really the driving element within the range. Essentially we have many scenarios, essentially the worst and best, and so on. Let me say that on the low end, we consider the potential delays in the supply of batteries for the largest projects that are contributing revenues in Q4. Essentially, we have assumed we have delays which means shift in the revenue recognition, okay? According to IFRS 15, what is at the very end of the Q4 of 2023, which is the very conservative case and the most prudent approach. While all the other deliveries that are planned in Q2, Q3 and beginning of Q4, given the current market situation, I mean, are secured, are paid, the suppliers are committed, so we don't see any reason to further stress testing our scenarios, right? This is the perspective from NHOA Energy. For Free2move. On the high end for energy storage, we consider essentially the base case because we might have some upside, but let me say that the revenue recognition, at the level of NHOA Energy, I mean, at the maximum level is the best case, because we have a very clear flow of revenue recognition on a monthly basis based on supply deliveries and the execution. We do not consider any kind of upside from NHOA Energy perspective. We might have, but we do not have enough visibility. That's the reason why we didn't, we didn't embody any kind of upside in terms of new contracts won, new contract wins in the coming months for obvious reasons of prudence. While from the Free2move perspective, we consider the, in the low end, a minimum, a minimum level of revenues that on which we have today, clear visibility. Again, we do not communicate yet the backlog for a series of reasons. One of that is also the very early stage of the processes of the company and so on, that the company was born a year and a half ago. For obvious reasons, processes are not at the state-of-the-art, right, and cannot be compared to the NHOA Energy's one. NHOA Energy's one. Again, we will revert to the market shortly on, also on that aspect. The minimum level on which we already have visibility, when I was referring to the very first positive signals from the market, and from Stellantis, obviously we do have visibility, and that visibility has been, in a very prudent way, embodied into the low end of the guidance. I will say approximately 20%-30% of that visibility, just from a prudence perspective. While in the high end of the guidance, we have considered essentially the budget that we have, that is backed by a solid visibility that I was referring to. While the high end do not consider the upside. In the case of Free2move eSolutions, we might be able to make the budget the orders, the inflow that we have here, and that was unexpected. That's the reason why it's a good signal. I mean, we said forget the growth, not only forget the revenues for Q4 and Q1. We had the very first positive signals in terms of orders, inflow, and therefore, we might have an upside on top of the budget and therefore on top of the high end. Those are the scenarios. This is how the guidance was bid last year. I think we have proven. Again, you mentioned that the range is large. In relative terms is tighter than the range we announced last year. You will remember that we announced first EUR 100 point and 50 million, okay? So EUR 50 million out of EUR 100 million, now is EUR 60 million out of EUR 220 million. So technically is less large. In reality, you have seen our prudence and our solidity in managing guidance to the market last year. Okay. So we revised the tightening also the range three times the guidance last year. I think we have proven, we have proven to be very, very very, prudence and, very professional in managing, the financial communication to the market. That's the intention we have this year, obviously. That's the reason why the guidance range is wide, and that's the reason why it's built on very different scenarios, that might evolve, as they evolved last year. Free2move was expecting to contributing, more to the, to the revenues obviously, than eventually, NHOA just being more successful. We revised and we updated the market almost on a quarterly basis with guidance update. This is, the intention we have. I would like to give you more precise figures, but given given the stage, the growth stage of the company, the high the high speed at which we are developing the network of Atlante and and also the the revenues recognition at the group level, this is the situation. You have to be patient. Hopefully, in the next couple of quarters, we are gonna be more precise, tighten the range and hopefully increasing it. I mean, I would love to make free guidance upward revisions also this year. In principle, the range that we communicate to the market is the range in which we believe in, and therefore, what we expect is simply to tighten this range over the course of the year. Okay, got it. Thank you. Thank you. Thank you Thank you very much. Okay, thank you very much. I think we have no more questions for now. I would like also to thank the ones who wrote their questions in the Q&A chat, even if the question in the meanwhile has already been answered by our management team. Carlalberto, back to you. Thanks, thank you, Chiara. Thank you Stefano, Giuseppe, and Alessio. Thanks to you all. I think this investor call is closed. Have a nice day. Thank you. Thank you. Thank you. Thank you all.