Good afternoon, dear listeners. Welcome to AUGA Group meeting with investors. I'm Emilia from Nasdaq, and I'll be moderating today's event. We will start with a presentation from the management, which will be followed by the Q&A session. Please be informed that this webinar is being re-recorded and will be available for rewatch. As always, I encourage everyone of you to share your questions in the Q&A section at the bottom of your screen, and you can submit them either anonymously or with your name. With that said, I'm pleased to introduce today's presenter, Chief Financial Officer, Mindaugas Ambrasas. Please, the floor is yours, and good luck. Emilia, thank you for the introduction, and good afternoon to everyone. As we have the slides, so I just repeat that my name is Mindaugas Ambrasas. I'm CFO of AUGA Group. I'll try to tell you a little bit more how AUGA Group was performing and what was happening in AUGA Group in the first quarter of 2023. We'll try to answer your questions later after the presentation. For the start, we have this standard slide just giving short information. What is AUGA Group for today? I will not go through those figures because I really believe that every one of you know the group and know what we are doing. Personally, I really believe and hope that starting from the third quarter of this year, we will have one quite important change in this slide. Quite important change in our financial reports because, according to the plan, from the third quarter, we will start to report and start to disclose results from our new activities. Activities related to our sustainability or strategy related to sustainability and results related to activities related to that. I really hope that, you know, that for the last couple of years, we really were working on quite a few things. We had an event 2 weeks ago, where our General Manager and main shareholder, Kęstutis, told a little bit more and a little bit in more details, how AUGA Group will operate in the future. What are, like, 3 key areas of our focus in the future, and those 3 key areas, which are related to those sustainable activities, which we said in our strategy we want to implement almost 4 or 5 years ago. Lastly, how all this can be implemented in AUGA farms in the beginning, and how this can be shared with other farmers in Lithuania or in other countries in the future. I will get back to this information later in the presentation. For the start, let's get back to our standard current activities, and talk about results of those four current business segments for the first quarter of 2023. If just to talk about overall results of the AUGA group for the first quarter, I would say that there are, like, two most important messages about our activities and results. First of all, that. I think it's a good news that production activity is really stable because we had quite a few years with different problems in different segments. I think partly because of that, sales they are growing. Yes, I have to add that one of the reasons, it's not only about, like, growth and the new things, prices were also one of the factors which allows us to grow in terms of revenue, comparing 2023 with 2022. You know, prices for agricultural products, they increased quite significantly last year. Now, when we sell remaining part of last year harvest, of course, it's in higher agreed prices, and this allows us to have this growth as well. Nevertheless, I think stability in production was also one of the key factors. The second message, unfortunately, you know, we have a net loss for the first quarter. I will provide more details when we will talk about agricultural segment regarding the reasons why this negative result was accounted for the first quarter, because growing activity or agricultural activity is really the biggest factor in this result. I can say that this loss reflects, first of all, decrease in prices this year in agricultural products and, most importantly, decrease in our forecasts for harvest or prices of the harvest for this year. As I said, we will talk about this in more details. As always, we will go segment by segment. As always, let's start from crop growing. For the start, just like, I think the most important factor this year, and where the biggest changes come from, it's changes in pricing. I don't think that, you know, it's a news for participants of the webinar, but prices for majority of crops decreased from, I would say, record level we had in 2022. As you can see from the graph, which we always show, prices of conventional and organic wheat in Germany, and then prices we have in Lithuania. We see the same tendency, that prices were really going down. In organic, we are still slightly above what prices we had in 2021. I think the most important thing regarding organic markets, that still there are lots of uncertainties, what could be the price level when the new harvest will come? This also reflects in the market activity. I think it's we didn't see such low activity in at least organic market in the last five years. It also shows in contracts we made already. You know, we start to make a contract from new harvest, generally from February, March every year. This year was really exceptional, that market was really very passive. I think everyone is really looking, trying to understand where this new level of prices will end up. That's why activity was very limited. If you see the contracts, or amount of contracts we have for the harvest, it is lower comparing to the level we had a year ago, and comparing to, I would say, historical levels we had every year. It's of course, difficult to predict what could be the level of prices after the harvest. You know, first of all, of course, the trend is that prices had decreased from the peak we had last year. Of course, there are questions, what would be the harvest, not only in Lithuania, but in Europe as well, because this will also be a huge factor how the prices will change. We also have quite high costs coming from the last year, which, I would say, act as some kind of stabilization for prices to go even further down. There is also a question about stocks remaining from the last year. You know, we are conservative in our forecast, and you will see how this affects our results. We believe that, you know, we will have clear picture of price levels after the harvest only because this year really has lots of uncertainties, at least in the organic market. If we talk results of crop growing for the first quarter, so gain on the biological assets is really the biggest factor. This gain is really based on our forecasts, how we see result of crop growing activities will end up when the season will be over. This year is also quite different from figures we had historically. Because if you remember, for the last 3, 5 years, at least those two we have here in the graph, you know, we had some changes in our forecasts and gain valuation only in the third or fourth quarter. Because unfortunately, those were negative changes, and they were related mainly to the forecasts of yields. If we had lower yields, so we had to recalculate this gain on biological assets, and then we had smaller negative results at third or fourth quarter. This year, we're really trying to have, I would say, even more conservative approach. Starting from the first quarter, we did revaluation of our forecasts we had in the beginning of the year. What has changed? Cultivated area, of course, is very similar. It's almost the same because we didn't have any problems after the winter. Generally, what was sowed in the autumn, all those areas are growing grown. If we talk about our yields, we still think that, as I said, the conditions up to now are not bad, generally, we don't see reasons why to change to the positive or to the negative side of our forecasted yields. Maybe important thing to mention is that for the last couple of years, every year, looking at our historical results, we start the year with, let's say, lower expectations and lower forecasted yields. You know, trying to be more conservative in this area as well. We did quite substantial changes in our forecasted prices. Prices, yes, we are partly based on the contracts we did, if you remember from the previous slide, number of contracts is quite low at this point of time. If we see development in the market, our forecasted sales prices, and based on that, our gain on biological initial recognition of biological assets. You know, this had a negative change. This change we did in the first quarter of this year, just trying to be more conservative on our forecast and be more, let's say, stable on the results, not to have fluctuations we had for the last few years. The last big part in this populations costs, we, let's say, started the season with quite a high level of cost, because last year, we had substantial growth in various cost elements. This will have effect on cost, overall cost for the season. We see, at least in some areas, quite positive development. For example, fuel costs, they really decreased from the peak last year. Now we are now buying fuel on much lower cost comparing to the last year. Effect on the season, we will be able to evaluate after at least the second quarter or finally after the first quarter only. Right now, we didn't make any adjustments. Though, as I said, you know, there is possibility at least that, you know, we could have lower costs than forecasted, but we still need to go through second or maybe through the third quarter to confirm that and make that change. For time being, big changes were made in the forecasted price, and this led that for the first quarter this year, our gain was only EUR 100,000. Generally, it's almost EUR 3.5 million lower than we had last year. As you will see, from the results of the whole group or results of crop growing segment, that's where really the difference between last year result and this year result comes. Just to sum up, result of crop growing segment for the first quarter. As, as I mentioned, it's almost EUR 3.5 million difference in gross profit year-on-year. Generally, it really comes from this gain, which is based on more conservative forecast. Of course, you can't say that, you know, this decrease in prices is more like a, in effect, in model only, or is just in forecast. We understand that this is the trend, and we see that decrease in prices, they put pressure on our sales results because still part of the harvest from last year was not contracted. You know, if it's not contracted, of course, decreasing prices, we could have lower or negative result from sales activities, when we will have to sell remaining uncontracted part of the harvest. Second important note, that we don't expect and don't calculate any significant or major changes in the subsidies we receive as a group. Generally, this should be in very similar level to what we had in 2022. As I said in the very beginning, it, at the end, we have a gross profit of EUR 1.5 million for the first quarter in crop growth. Definitely, decrease is very similar to what we have in gain on revaluation of biological assets recognized in current period. That's where the difference in results comes from. Second segment, dairy. Generally, I would say it's in very similar situation because prices, they grow, grew last year in crop growing and in dairy. Now we have the opposite trend in both segments as well. Just to go through, let's say two key dynamics. First of all, production. If you remember, last year, we had this dip in production, in the second and third quarter, just because of some changes we did in the feed of the cows. The new harvest and feed getting back to the original plan, we were back on, let's say, track with the production. I would say that this continued in the first quarter as well. As you can see from the graph, our production level was much higher than or higher than it was in 2021, in the same level, of the production we had in 2022, before this dip in the second and third quarter. Unfortunately, you know, this okay news in production was not compensated by milk prices, which decreased quite substantially starting from the end of the last year. In the first quarter, you can see from the graph that this decline was very steep. You know, decline in organic milk prices or milk prices in general, you know, was one of the steepest in Lithuania and the neighboring regions comparing to price changes in all EU. This really led, you know, to the very symbolic, but still gross loss from dairy segment for the first quarter. Another reason why our sale and production volumes were a little bit lower than we had last year, it's slightly lower number of cows we are operating. As you can see from the figures in the left, I would say it's more like a technical. I think there are some cycles in period. Generally, yes, we have no point of time than the number of milking cows has decreased a little bit, but as our number of heifers and bulls is much higher than we had a year ago. Generally, it's just a matter of time, then our production capacities will get back to maximum, and then from production side, as said, I believe situation is quite okay. Price level is like the biggest concern and the biggest challenge for time being. Another segment is mushroom growing, and here I would say that we are in a situation that after 2 years of constant problems, issues, finally, we are really much more sure that the segment is really back on track. If you remember from our previous presentations, we mentioned that there are, like, 3 key factors which affect what would be result of the segment: costs, prices of product, and production volumes. If we talk about the first one, costs, you know, I would say that they are really in control, and not, we are showing here a graph of electricity and gas prices, and all of you know latest development in those prices. They are really favorable for mushroom growing segment because we had really the very tough third quarter last year, and it's obvious reason. You see the prices of electricity and gas at that point of time. Now they are much lower, but it's not only about that. I think the company implemented, and they are controlling other costs as well. You know, we are in good situation there. Secondly, which is, I think, even more important, and it's even bigger factor in our improving results in the segment, that we managed to increase prices of our products every quarter for the last five quarters. You can see that even if we compare prices in the first quarter this year to last quarter last year or first quarter last year, so we have an improvement. Yeah, if we take just overall figure, the growth of price was a little bit lower, but if we take out the effect of transportation, product mix, and so on, so generally, we have almost 22% higher price for mushrooms. We believe that it's not temporary trend, that it's not the same situation we have in dairy or crop growing, where prices, you know, went up and went down quite significantly and then quickly. Here we have much more stable situation, and then we believe that due to changes in supply after those, 2 quite bad years for the industry, we will have this higher level of prices, which will allow us operate successfully in this segment as well. The third part is production. You know, you can see from the graph that, you know, it's not a very good result, I would say. I think we still have improvement there, because it's, you know, lower of first quarter production than we had, for example, in 2021. The good news that we didn't have any fluctuations. You know, we had a stable production for all 3 months of the quarter, and generally, we have the same stable production and in slightly increase in production for April and May this year as well. Generally, issues we had previously, you know, It seems like they are solved, and, you know, we are back on normal operation in the segment, and it really shows in the results. You know, after, I would say, very difficult year, 2022, we have a gross profit of almost EUR 600,000. This is even better than we had in 2021. This is positive developments, and we still see some room for further improvement there as well. Last of our current segments, FMCG. Generally, I would say it's also quite stably good quarter, if, if I may say. The good news that we are still growing in terms of sales. What is also, I think it's achievement of our sales team, that, you know, for quite a few years, we've managed to successfully launch our activities in U.S. market, some other markets, but, we were always trying to get into one of the larger EU markets. In the first quarter, Germany became the second largest export market, for FMCG segment, with the sales of almost EUR 400,000. I think, you know, this is a good step, you know, first of all, getting into markets which are, you know, you can say, even home markets for us. Secondly, diversification of our export markets, 'cause, you know, we had quite a big dependence from U.S. Of course, when you are that small in U.S., maybe it doesn't create that big risk, but still, diversification is always good. This is, I think, quite a good achievement. I think the most important news what happened in the segment this year, it really happened in the second quarter of this year. We launched our new product line. This product line launched in May. It's related to all those new activities I mentioned in the very beginning, implementation of our sustainability strategy. What we are generally doing, you know, we are trying to create a new product category. We are creating basic everyday products, and we are offering those basic everyday products for consumers. You know, the products are produced from organic raw materials, from our own farms. You know, right now, we can't claim that our production process is 100% sustainable, you know, being CO₂ neutral, et cetera. That's why we call it even mission no cost to nature. You know, we are starting to implement those principles, and we are, you know, giving a promise to the consumers that, you know, we will work towards that our end goal is really to provide those products with not only mission, but actual no cost to nature. This new product line, as I said, was launched in May. You know, right now, you can find those products in almost 400 locations all over Lithuania. You know, we are working with almost all key retail chains. You know, we are working to extend our distribution network. We started from 9 SKUs, but there is a plan to increase number of products we are selling. As I said, we are not planning to go into some niche products. The products is to produce raw material in Lithuania, in our farms, in using sustainable technologies we already have, and sustainable technologies we will develop in the future, and to offer those products to local consumers in Lithuania. You know, that's also part of sustainability story, to sell products you produce locally to the local consumers. Right now, it's a little too early to talk about the financial impact of this launch, because we just have, you know, less than one month. This is really important for our group, and this is one of the key areas where we see, you know, where we see our future, and this is one of the priorities for implementation of our strategy. Getting back to transformation of AUGA group, as I mentioned in the very beginning, we had a presentation, and I hope that at least some of you were able to participate or were able to listen to this presentation later on. I will try also to go through, like, through key elements of the transformation, and how we see this will happen, and how this could affect operational activity and results of our group as well. First of all, you know, we had to make, I don't know, some homework and to have structure ready for those changes. In AUGA group, we had created a subholding called AUGA Community, which generally will control all those new activities which are related to sustainability. AUGA Community will have, like, three key new business units or business lines, and these are, like, three key pillars of our future business model. First of all, AUGA Tech is a company which is developing new technologies and then will scale them. You know, like the first technology, which was, I would say, widely introduced, tractor, which we developed and which we are testing right now. AUGA Trade will be the company or is the company which working with manufacturing companies will produce consumer products, will be engaged in brand marketing, and in the future will do some maybe co-branding in AUGA sustainability labels. Third, I would say the newest company in this subholding is AUGA SOFA. Generally, this is the company where we would have all know-how of our way of doing agriculture. First of all, it's more like a shared service center, providing knowledge, standards, certification. It's also a structure which will allow to use principles of sharing economy, not only for the AUGA group, but for the third parties as well. Thirdly, the company has already developed some and will develop in the future, digital tools, how to make all those operations more effective and more efficient. How, you know, this will affect and how this will be transferred to our agricultural entities and agricultural activity? What we already did, we had established 11 agricultural cooperatives, which will concentrate specialists and employees, which will concentrate the machinery. Generally, they will provide the agricultural services to other farms in the start, but to all third parties in the future as well. Just to visualize those cooperatives I mentioned. Here you can see where those cooperatives are established, where they do operate, where we are building or already built biomethane plants, which will be used in our activities. Generally, this structure allows us that those 11 cooperatives, together with their hubs or centers. You know, first of all, now we can cover those 38,000 hectares AUGA group is cultivating. You know, we see that how they are created, theoretically, they will be able to serve farmers in 25% of territory in Lithuania. You know, I can't say that, you know, this is like a target, the goal, but, you know, we believe that this is a potential, you know, what we can offer and to whom we want to offer those services in the future. The plan is that, you know, we will start operating this structure from beginning of July. You know, the this will be a test for ourselves to test and then to make sure that everything works. In the second part of the year, you know, there will be possibility to the first parties, to the farmers, to join our AUGA Community as well. You know, first of all, for them to use technologies we will be having. Secondly, to use those sharing principles and to benefit from that, to benefit from our know-how we have in our competence center, and to benefit producing sustainable raw material, which can be transformed to FMCG goods sold to the final consumers. This is also the... I think it's important question for the investors and the shareholders, current shareholders and future shareholders, you know, how this will affect our revenues and then, you know, how and what we will earn from those new activities. Generally, with those new 3 activities, we have 3 new revenue streams for AUGA Group. If we talk about our AUGA Tech Farm, I think it's the most obvious one. You know, producing technology, selling, and maybe with some financing structure, leasing it to users of the technology. It's the first revenue stream. Secondly, if we talk about AUGA SOFA, generally, this will work as a franchise structure, then users or parties which will join our community, will be paying the franchise fee. This is the second revenue stream. The sustainable food basket or AUGA Trade activity, I think it's also quite obvious. You know, producing, branding and selling products generates the third revenue stream for AUGA group as well. It's not only this. I think it's also important to mention that it's not only new activities will generate new revenues for the group. You know, technologies we are developing, you know, we believe they will have additional positive effect to our current agricultural operations. For example, you know, if we talk about production of biomethane, you know, we will have digester as outcome of the process, which will be used as a fertilizer in our farms. You know, there are some researchers saying that applying liquid state of fertilizer could give you a boost in yields comparing to the current operational model than, you know, it's a hard form of fertilizers used. You know, scaling of our activities will also allow us... Scaling, we mean, by attracting third parties to our operational model. You know, this can be done in Lithuania, this can be done in other countries as well. Generally, scaling the operations will allow AUGA Group to be more efficient as well, to have, let's say, more or better negotiation power regarding your suppliers and so on. It's not only those three areas, but, you know, additional improvements in our results will come from the technologies and scaling of the operations, we plan those changes we are doing. Here is a timeline of things we are doing right now. I don't think maybe it makes sense to go through in any details, but one of the important things is on the very top of the slide. Generally, up to today, all those innovations, they were financed from group's internal resources.... We understand that, you know, if we talk about scaling of technologies, you know, if we want to change our existing fleet of tractors, the tractors developed by our group, for example, you know, we need quite a substantial amount of resources, and the group doesn't have that kind of resources at the moment. You know, we fully understand, and we fully plan that all future steps of this transformation should come not from internal resources of the AUGA Group, but we will be looking for external financing for that. We believe that, you know, we did some homework. We prepared, let's say, legal structure for that. We will have more development running in the second part of the year, so, you know, we will be able to have very clear message, you know, what we are doing and why we need this additional funding for. Generally, of course, we will have to go for, you know, venture capital, you know, as an option. Second, and I think it's also very important, option is EU funding for implementation of green economy or change of current economy to the green economy. For example, at least in Lithuania, there is almost EUR 1 billion allocated for such programs for the next 2 years. Generally, companies which has ideas, which has plans and can come up with a very detailed plan, what we want to do, they can get fundings like that from this source. We see that, you know, we have quite a big potential to be among the companies which has something to offer, and which has not only idea, but which has, you know, prototypes in place. We have testing in place, we have legal structure, and we have already operating model in our farms. Of course, hopefully, in the future, when this model will prove itself, we can get back to, say, standard bank financing for at least some part of the businesses. This is really important task for us for the second part of the year, because as I said earlier, we understand that, you know, need is quite substantial. You know, the goal and the target is that all this transformation should be done from external financing, but not putting pressure on our, let's say, daily operations and daily cash flow of the group. As always, just a short update of the logical developments we are doing. I think the most important is or the one everyone is waiting for some news, is the 2nd one, the biomethane infrastructure, because there are not so big news in the 1st and the 3rd one. You know, we have a 1st facility operating already in April. We are finalizing remaining 2, what we're doing right now, because the situation in the market is that, of course, gas prices have increased quite substantially as well. Generally, the focus is. We are in negotiation process, 1st of all, to supply the gas to the grid. This, you know, allows us to change the market we are operating. Because, you know, we can transport the gas to our buyers, but this will be mainly limited to Lithuania or nearby regions. If we have possibility to supply to the grid, generally, we can sell the gas all over Europe. That, we are also in negotiations to sell the gas, not only as a gas, but the gas with the green certificate. This, and this changes pricing level quite substantial as well. Just because we are in negotiation process right now, we are not able to provide more details about this, but, you know, hopefully, you know, we will have more news in the next presentations, or maybe if we will have some substantial news, we will have separate announcement regarding that in the future as well. As always, information about our share price, we have maybe one change. Previously, we had three companies following us and doing the research. Unfortunately, LHV decided that they will decrease the list of companies they are following. Now we have Enlight Research and WOOD & Co., two companies doing analysis and then making equity research for us. That's it. As always, here you can find all additional information, legal disclaimer, and, I think now I'm ready for your questions. Thank you very much for the presentation. Indeed, now let's proceed with the Q&A session. Before we start, I would like to remind all the attendees that you can send in your questions in the Q&A box at the bottom of your screen, and I will read them out loud. Let's begin with the first question, which is as following: The cash flow statement shows that there was EUR 5.88 million inflow from newly issued bonds in Q1 2023. What are these bonds? Could you please provide such details as interest rate and maturity? Thank you. Yes, thank you for the question. First of all, yes, that's right. We issued, or I think one company of the group, issued bonds for almost EUR 6 million. I don't think, you know, we will be able or we would not, just because of some commercial information, we will not provide specific details as interest rate right now. Maybe the reason why those bonds were issued, we see and we saw development in the market, that liquidity is quite low in terms of future contracts, future agreements, because every year for the last, I don't know, many years, when we started to do pre-contracts, we also had agreements for advanced payments. With the low market, we saw that, you know, we need to secure additional funding to be safer on our liquidity situation. That was done having this bond issue. Maturity is it's one and a half years, I believe. As I said, more specific information, I don't want to disclose just because from the commercial side. All right. Thank you very much for your answer. Let's continue. The next question is as following: Financial results have worsened while debt remains high. Could you please comment on potential risk of breaching debt covenants? Thank you. That's very. It's a question where you can either answer very shortly or you can give very long answer. Yes, for the last couple of years, we breached several covenants with our partners, financial institutions. We had substantial breach after very poor year 2021. You know, we had some issues regarding some standalone covenants last year. We also will have some breaches this year after the first quarter, but I would say this year, it's more like a technical breach because if we calculate the covenants for last 12 months, so generally now, we will include a very poor first quarter this year, and we will exclude quite good first quarter last year. Generally, I think, this situation just shows that, first of all, we are working very closely with financial institutions to try to explain our situation, to explain situation in the market and how we see a situation going further and how we want to improve that, how we see to change that. For the last couple of years, we really had the trust from financial institutions, so in much worse situation, you know, we had all the waivers from them in terms of breach of the covenants. I don't expect that after the first quarter, you know, we will have a substantial increase of this risk, because definitely we are currently working for, like, technical waivers from financial institutions. I think they also understand the situation in agricultural business right now. They understand the situation because of seasonality in our group results. You know, this is a constant work with our partners, but I think up to now, we were able to explain and have their trust, and I really believe that, you know, this will continue. Thank you very much for your answer. What was the average cost of debt in Q1, 2023? Could you please comment on that? Unfortunately, I don't have a figure right now, so I don't want to say the figure, which will not be exact. Of course, obviously, the costs has risen substantially if you compare the costs year-on-year, just because a year ago, Euribor was 0, and more than around 60% of our portfolio is floating interest rate. You know, when you add up increased Euribor, you have a substantial increase of financial costs. Sorry, I can't give an exact figure right now, but just need to check it. Thank you very much. We have one more question remaining. Thus, I would like to remind all the attendees to send in your questions now, and we will discuss them in this session. The next question would be as following: Could you please comment on what interest you have received so far from potential buyers of AUGA tractors? Thank you. I think, what, I maybe try to explain that, we don't want to become just a tractor producer. Yes, we had some interest, from, I would say, from all over the world, you know, when you will have a tractor available, can we buy something not only from agricultural companies, but, for example, companies involved in construction business, which has some sustainability goals, and that could be one of the areas we can improve. Our goal and idea is that, you know, first of all, our production of tractors, you know, should be targeted to the users of AUGA, or members of AUGA Community, because it's not only about the tractor. You know, you will provide the full solution for the buyers. It's not only tractor, but it's also biogas. It's not, you know, if you're using tractor, and you could also benefit from that just because of, you know, lower costs of using gas comparing to fossil fuel. You will produce food in more sustainable way, and you can benefit from that if goods you are producing, they, for example, are transferred to FMCG goods and sold to retail customers. I would say that, first of all, and the biggest focus is to have this tractor used by members of AUGA Community. Of course, if there will be third parties willing to buy that, you know, we would be more than welcome. We will be more than welcome to do that. Thank you very much for your answer. In your view, how do you explain the muted market reaction to the share price after the investor day two weeks ago? Thank you. You know, that's a very tough question. I don't think I have ability to explain market reaction, you know. Market knows better all the time. Honestly, you know, we expected a little bit more reaction, you know. That's why also, you know, we halted trade of the shares for a day. I believe that, you know, this is quite a big change, and it's quite a complicated change. You know, we need to provide more information what we are doing and how this will affect the company. Because even today, from my presentation, I understand that everyone, you know, would like to get specific figures, specific numbers, you know, what we will do, what will be, I don't know, sales, EBITDA, from that activity. You know, it's still a little bit too early to do that. If we do very generic forecasts, you know, they will not show actual situation. I think, as I said, it's quite a big change, and we just need some time and more information to explain and maybe just to prove that this works, and hopefully then we will see reaction from the market. Thank you very much. It seems that all the questions are answered. On behalf of AUGA group and Nasdaq, thank you all for joining. Dear management, thank you very much for the presentation and the Q&A session. The recording, as always, will be available in the company's website and Nasdaq Baltic YouTube channel. Have a good evening, everyone, and goodbye.