Welcome to the DP Eurasia trading update conference call. Throughout the call, all participants will be on listen-only mode, so there's no need to mute your own individual lines, and afterwards, there'll be a question-and-answer session. Just to remind you, this conference call is being recorded. Today, I am pleased to present Aslan Saranga, Chief Executive Officer, and Selim Kender, Chief Strategy Officer and Head of Investor Relations. Please begin your meeting. Good morning, everybody. Welcome to our trading update for the 10 months ended 31 October 2021. Our trading performance across the group has continued strong momentum since our interim results in September. Our Turkish and Russian operations system sales have increased 62.1% and 28.2% in Turkish lira terms. This has been driven mainly by delivery sales and reflects the continuation of COVID-19-inspired shift to home delivery. Our group system like-for-like growth in Turkey has been 52.7%, in Russia 12.4% based on ruble. In Turkey, the temporary reductions in the VAT rate came to an end in October, and the operations restrictions lifted in July remain so. In Russia, we have experienced some restrictions on dining from time to time. Our like-for-like growth rate compared to pre-COVID 2019 period reached 87.1% in Turkey, a strong performance which significantly outpaced inflation of 34.1% over the same period. Our Russian like-for-like growth rate over the same period was -5.8%. However, recent Russian figures continue to be encouraging, and we were pleased to report a positive like-for-like growth rate compared to 2019 in September and October. Increased store demand is continuing in Turkey, and we have reached the milestone of 800 stores across the group. We have opened 27 stores in 2021 to date and are continuing to build a solid pipeline for 2022. We have opened 52 stores year-on-year. Digital continues to be the main driver of the business as our channel mix has tilted more towards delivery due to pandemic, reflecting broader shifts towards online consumerism. Online ordering as a percentage of delivery reached 78% for the period, an increase of 3.4 percentage points over the last 12 months. Despite recent devaluation, we have a strong liquidity position in the company. We have TRY 121 million of cash at hand and additional available bank lines of TRY 270 million as of 31 October. Jubilant FoodWorks Limited, our biggest shareholder, through its wholly owned subsidiary, Jubilant Foodworks Netherlands, increased its shareholding to 39.8% via reverse bookbuild process. COVID-19 continues to be a dominant factor in both our markets. However, encouragingly, percentage of fully vaccinated citizens continues to rise in Turkey and Russia to 60% in Turkey and 39% in Russia. Since the board is conscious of the potential continued risk posed by the pandemic, we remain on target for our 2021 guidance in our markets, and the board expects the full year adjusted EBITDA for 2021 to be in line with expectations. Thanks for listening to us, and if you have further questions, we'll be happy to answer. Thank you. If you wish to ask a question, please dial zero one on your telephone keypads now to enter the queue. Once your name has been announced, you can ask your question. If you find your question is answered before it's your turn to speak, you can dial zero two to cancel. Once again, that's zero one to ask a question or zero two if you need to cancel. There'll be a brief pause now while we register your questions. Okay, currently, we've just got one question in the queue. That's from the line of Anahad from Hofler of Delbrinc. Please go ahead. Your line is open. Hi, Aslan. Hi, Selim. Congratulations on the good set of results this morning. I just wanted to ask a couple of questions. First, on Russia, could you give an idea on what the store opening pipeline looks like going to next year? I guess you would be focused more on opening corporate stores initially than franchisee stores. Maybe if you can give an idea on how far progressed you are in terms of finding new sites and progressing in doing the legal work on them, et cetera. And then second, what has been the reaction so far you think, if you have measured it in any way, of the marketing campaign that you have done in Russia, and have you seen any positive feedback from that? Thank you. Okay. About Russia, actually, we start to see positive demand in terms of store openings. Our relationship with the franchises are much better compared to previous year. For the first time since the pandemic, we'll open seven to eight stores until the end of the year. These sites are found, and we are finalizing the locations, and we'll open these stores until the end of this year. We'll have some closures around these numbers. The number of stores in Russia will be flat for this year. We have a strong pipeline of store openings. The number is between 30-40. We'll finalize the guidance when we declare our 2021 results on March. About the marketing, as I mentioned earlier in my speech, we are -5.1% compared to 2019. In the last two months, we are seeing a low- single- digit increase in our ADS. That's a very good sign showing that we started to beat 2019 numbers, and the business started to improve. Overall, we see good results on our new marketing campaigns and in our new leadership team and demand in the opening of the stores. Thanks, Aslan. That's very helpful. Can I just ask a follow-up on that? You mentioned that you will be opening seven to eight new stores in Russia, and there will be a similar number of closures to net zero. Can you give me the gross opening for the full year in 2021? How many stores, gross, do you expect to open? We also, you know, I don't have the exact number. We have already opened two stores. Okay. We'll open seven to eight. Okay. There will be some closures, but overall the number will remain the same for 2021. Great. Got it. Thank you. Thank you. Once again, if there are any further questions, please dial zero one on your telephone keypads now. We have a follow-up from Anab of Liberum. Please go ahead. Your line is open. Hi, guys. If there are no other questions, if I may ask a follow-up then. I wanted to ask on how the relationship with Jubilant FoodWorks has been going so far in terms of how has the interaction been with them. What has been their contribution so far on the strategy, particularly in Russia, given that they have been on the board for some time now? Were there any talks with them before they decided to go for the recent attempt to increase the stake in the company? Was that communicated to you beforehand, and what were your thoughts on it? Thank you. Selim, do you want to answer that? Sure. They have been on, as you said, Anab, they've been on the board for about seven to eight months now. They obviously have immense experience in India running the system along with Sri Lanka and Bangladesh to a certain extent as well. They have been hugely contributive to the board discussions throughout this period. I'm not gonna give details as to, you know, they said this, they, you know, they contributed point A, point B, et cetera. It's been a pleasure having them on the board wherein they also have such in-depth experience with the with the with our with our sector basically. With respect to their attempt, reverse bookbuild process that they announced in an attempt to increase their shareholding in the company, no, we were not privy to that information prior to the launch. You know, obviously I cannot comment on the reasons why they want to do this. I think, other than that, you know, they're long-term investors, and I guess they wanted to increase their shareholding exposure to the business. Thanks, Selim. That's very helpful. Those are all my questions. Thank you. Thank you. Once again, if there are any further questions, please dial zero one on your telephone keypads now. Okay, there seems to be no further questions coming from the phones at this time, so I'll hand the floor back to our speakers. Thank you for listening to us and see you on our yearly update. Thanks everybody.