Good morning, everyone, and welcome to Alsea's third quarter 2022 earnings video conference. Today, we will have presentations from our Chief Executive Officer, Armando Torrado, our Chief Financial Officer, Rafael Contreras, Miguel Cavazza, our Supply Chain Director of Alsea Mexico, and myself as the company's IRO. Now, I would like to hand over to Armando for his initial remarks. Please, Armando. Good morning, everyone, and thank you for joining to our third quarter 2022 earnings video conference. I'm excited to discuss this quarter results, our regional and brand performance, and other strategic developments. Looking at the results of the third quarter, we are pleased to report a year-over-year increase in net sales of 25.5%, reaching MXN 17.5 billion, representing more than MXN 3.6 billion increase the third quarter of last year. Same store sales posted an increase of 30.5% compared to the third quarter of 2021, and an impressive 31.4% compared to pre-pandemic third quarter 2019 results. EBITDA post IFRS 16 was MXN 3.5 billion for the quarter, up 10.6% year-over-year, leading to an EBITDA margin of 19.9%. Our operations cash generation was healthy, at MXN 5.1 billion compared to MXN 3.6 billion in third quarter of 2021, allowing us to continue to deleverage our company. We continue observing a strong trend in consumption in all our geographies, and the results third quarter reflects this, with demand holding up, despite the backdrop of challenging macroeconomic conditions, especially in our region of Europe. During our third quarter of the year, we were impacted by important increase in energy expenses in Europe, where in the previous quarter this represent only 2.6% of sales. In the current quarter, this was 4.2%. That was in the report that you already saw. Given that at the end of June, a contract, we had a fixed prices expiration there in our fixed prices that we already report. In this regard, I want to point out a couple of points regarding electricity. During the quarter, the highest point in price, which was 584% higher versus historical cost and approximately EUR 45 per megawatt. This was observed in the most of the month of August, but has now been showing a down trend until today. Actually, I'm gonna present later on. I mean, here you have the chart that you can see how is the trend coming down, especially in the month of October. We have reviewed the various options offered by the market in terms of contracts for the supply of electricity at stable prices. Given the current market conditions and due to the lack of visibility of what will happen in Europe, we prefer to be cautious and not close a long-term deal at this moment. We will be monitoring the situation closely, trying to make the right decision in case we see a good opportunity to lock in a fixed cost for the next 3-5 years, if possible. Since my appointment as CEO back there in July, I have visited more than 100 stores across our regions. I was able to connect with our talent and hardworking team members, affording me with some valuable insights, including ways that we might be able to deepen ties with some of the clients and other suppliers. Additionally, I was happy to verify that Alsea has a solid portfolio in our brands with a diversified offering of products and consumption occasions, and the right team to operate our brands and support a successful business model. Also, I came away with a deeper understanding of our strengths as a company and areas of opportunity across our regions and brands. One such area is very clear: the potential that we have as an opportunity to upgrade our technology that we are going to have a better operation, so as the same in digital platforms in our brand countries where we haven't developed them yet. We added 37 new corporate restaurants across all regions in the third quarter, totaling 92 for the first nine months of the year. We are in line with our guidance of opening more than 170 stores in 2022. We plan to build on the success that we've seen over the past years with our expansion strategy. We are currently working on our strategic plans towards 2026. Looking into the opportunities we have ahead in the current market, holding capacity data that we have been sharing in our Investor Day in the first quarter in 2023. We find ourselves now in a good position to take advantage of the market opportunities despite all the macro conditions that are outside of our control. We ended the quarter with more than 4,300 stores, and more than 74,000 collaborators in our company. Finally, I would like to give a quick overview of our main achievements in sustainability matters. Regarding ESG strategic, within the work done with our balance pillar, we have invested over MXN 186 million since the beginning of the year to acquire ENERGY STAR-certified equipment for 72 new stores in Mexico. This give us our store efficiency electricity uses. We are also progressing with our many offerings toward healthy plant-based products. During this quarter, as part of our growth pillar, we made an alliance with NotCo to respond to the demands of our consumers, and we are looking for other delicious and balanced options in plant-based products alternatives for our customers. This alliance also has a positive impact in our balance pillar and contributes to our goal of reducing our carbon footprint. In line with the strategy in Spain and Portugal, the offer of espresso drinks made of plant-based milk reach over 20% of all espresso products sold, and we are already offering new vegan snacks at Starbucks. Also, in Burger King Argentina, we have expanded our vegan menu, adding meat-free nuggets in addition to already existing Veggie Whopper and the Veggie King. As well, I would like to share that as of today, Alsea remains in fifth position out of 95 companies that are evaluated in the restaurant category for the S&P Global Corporate Sustainability Assessment of the Dow Jones Sustainability MILA index. We know that much remains to be done regarding ESG to meet expectations and need of all our stakeholders. We are working on a critical route and plans to achieve key milestones on ultimately our world 2030 goals. Now, I will have you again with Salvador for him to have a more detailed overview on our sales and report trends. Thank you very much. Thank you, Armando. As Armando mentioned before, sales during the quarter increased 25.5% year-over-year, and we continue to see a better performance compared to pre-pandemic levels with 20.9% growth versus the second quarter of 2019. Excluding FX effects, sales increased close to 38% versus 3Q 2021. Our solid business model and the strategic calls made over these past couple of years have proven to be effective. After the pandemic, our customers began returning to our restaurants. However, performance in food delivery continues to be solid, making a 15% year-over-year sales increase in the third quarter. We served more than 11.1 million orders by home delivery, accounting for 16.7% of total sales in the quarter. A slight slowdown in share versus last quarter, mainly related to the upward trend in on-premise sales. Digital channels and technology-based solutions continue to be fundamental pillars in our long-term growth strategy. We are currently working on exciting digital solutions for our Starbucks and Domino's brands that will be rolled out over the next few quarters. In Starbucks, for example, the all-encompassing digital platform called Starbucks Digital Solutions will expand e-commerce, delivery, loyalty programs, and payment methods. While at Domino's Pizza, we're developing advanced in-store displays to help our customers better explore our menu options, improve ticket size, and reduce labor costs. Regarding our core brands, the same-store sales growth year-over-year of Starbucks in Spain and France was in the mid- to high-30s range, while in Chile and Mexico were close to 30%. This quarter marked the twentieth anniversary of Starbucks in Mexico. We are very proud of this achievement and what it means for the country. We were also glad to announce the MXN 4.5 billion investment in Mexico from now until 2026 that we will earmarked for Starbucks new store openings, renovations, and improvements. Domino's Pizza in Spain and Mexico represented a 15% and 12% comparable sales growth. Domino's Pizza in Colombia reported a mid-single digit decrease in same-store sales compared to the third quarter of 2021, mainly due to a menu restructure, cutting out some aggressive promotions with impact, which impacted orders, however, improving margins. Finally, Burger King presented increases in Chile, Mexico, and Spain of 15%, 14%, and 13% respectively. Vips continue as well with a strong recovery in Mexico, reporting a 30% same-store sales growth compared to the 3Q 2021. While Vips in Spain reported a strong same-store sales increase of 28% versus the same quarter of last year. We are introducing innovative products to our breakfast menu that have been very well received by our Spanish customers. In spite of the cost increase, mainly due to inflationary pressures in raw materials and non-recurring benefits related to agreements negotiated with some of our strategic partners in the 3Q 2021, pre-IFRS figures, EBITDA figures in the third quarter 2022 increased 12.9%, reaching MXN 2.1 billion with an EBITDA margin of 12.3%. Excluding the exchange rate effect, EBITDA increased 22.7%. Costs as a percentage of sales rose 200 basis points year-over-year, reaching 32.9%. Given the ongoing inflationary pressures, we have demonstrated how the cost control strategies we have deployed to counter inflation are working. We have also been proactive as a company in mitigating the global inflation scenario. Later on, Miguel will be talking through some initiatives that we have implemented, particularly in Mexico, that have helped us navigate through these cost headwinds. Looking at our regions and geographies, Mexico sales increased by 25.3% year-over-year, with an adjusted EBITDA increasing by MXN 558 million to MXN 2.5 billion. We are pleased with Mexico's continued excellent performance in the face of rising inflation and declining purchasing powers in real terms. Sales in Europe grew by 12.5%. However, due to increased costs and expenses, adjusted EBITDA was MXN 386 million lower, at MXN 1.1 billion. In the face of major increases in inflation and energy expenses, the sales number in this region showed the resilient demand and consumer preferences for our brands. The contraction on adjusted EBITDA margins in the region were also impacted by non-recurring benefits from the previous year related to some agreements with our strategic partners, both on the cost side and in royalties. At the same time, we're working on mitigation efforts, such as carefully studied price increases, negotiating long-term agreements with suppliers, and using our dynamic display menus and apps to guide customers towards higher margin offerings. Finally, in South America, we posted a strong 51.9% sales increase, while adjusted EBITDA was MXN 865 million, representing a 56% increase year-over-year. South America's solid figures are mainly the result of strong demand, decreased SG&A, successful product innovation, and digital strategies. Now, I will leave you with Rafael for him to give you a more detailed overview of our results and balance sheet situation. Rafael, please go ahead. Thank you, Salvador. Our net income for the third quarter increased 13.2% to MXN 336 million. This increase was mainly due to a MXN 328 million peso increase in operating income, resulting from the continuous positive trend in sales, commercial strategies, product innovation, development in digital applications, as well as improved cost and expense control efficiencies. We have been able to keep the strong recovery trend since the first quarter of 2021, achieving an earnings per share of MXN 1.90, including IFRS 16. Our EPS rises to MXN 2.26 per share. Regarding our debt profile, as of September 30, 2022, our gross debt decreased MXN 4.1 billion year-over-year, closing at MXN 27.8 billion. This reduction in debt corresponds mainly to the devaluation of the euro exchange rate against the Mexican peso and debt amortizations during the period. Year to date, we have paid down MXN 1.3 billion, with MXN 275 million to be paid in the fourth quarter. We feel comfortable with the current maturity curve and debt ratios that we are achieving. Our debt ratings were upgraded by Fitch Ratings and Moody's in the quarter. On September eighteenth, Fitch Ratings upgraded our foreign and local currency long term to double B, along with our unsecured and senior unsecured notes. Fitch Ratings also upgraded our local currency long and short-term ratings. Likewise, Moody's upgraded our CFR and senior unsecured rating with a stable outlook. These upgrades recognize our operating performance, quicker than projected deleveraging, revenue growth across all regions, improved margins, our portfolio of brands that continues to gain market share, superior product offerings that meet consumers' preferences, and our investment strategy focused on expansion, modernizations, and innovation. Regarding our covenant, we complied comfortably during the quarter. On the gross debt to EBITDA ratio, we ended the quarter with 3.2 x, EBITDA to interest paid in 3.6 x, and net debt EBITDA 2.6 x. The minimum liquidity covenant is set at MXN 2.2 billion, with us posting MXN 5.1 billion in cash for the quarter. The debt structure at the end of the quarter was 96% long-term, with 66% in Mexican pesos and 34% in euros. We expect to deleverage going forward and meet our, all of our debt covenants, thanks to our healthy and ongoing cash generation. In line with our CapEx plan, without sacrificing needed investments, we spent MXN 2.5 billion during the first nine months of 2022, of which 40% was allocated to maintenance as we keep catching up following the pandemic. 49% went to store openings and remodelings, and 11% for IT and some other strategic projects. Out of the 98 store openings that we achieved in the first nine months of the year, 60% are Starbucks and 22 Domino's Pizza units. I would now like to hand the call over to our Supply Chain Director of Alsea Mexico, Miguel Cavazza, who will give us a deeper insight on our supply and sourcing strategies. Thank you. Thank you, Rafael. Good morning, everybody. Today, I want to share with you what improvements have been done for last years to mitigate supply chain constraints that we are all aware of them, such as lack of availability of products, lead times, transportation cost, inflation, and quality. Since 2020, when the pandemic started, we took some specific actions to mitigate the lack of availability and prices increase. We work with vendors to reduce costs and also to improve our logistics key indicators, expenses, and results. From procurement, we have some key initiatives. We do hedging in commodities and also in FX rates. We follow key market indicators such as the Chicago Mercantile Exchange, USDA, INPC, Índice Nacional de Precios al Consumidor, and others. We are negotiating mid, long-term fixed price agreements. Also, we integrate the planning process with strategic suppliers. One year in advance, we plan our demands, we adjust our lead times, volumes, and the suppliers can secure raw materials, so they can have an anticipated manufacturing plan. With that visibility, for most parts, we have win-win agreements and have the best logistics indicators and costs for the companies. Also, we anticipate seasonal purchases, and we're looking for new items around the world to support the innovation program. Also, we execute some physical pre-buys and for example, our cheese vendor is the most important supplier for Alsea Mexico. We have consolidated strategic partnerships in 1990. Over 30 years, he has been the main cheese, the main pizza cheese supplier for Alsea Mexico. Under Domino's Pizza umbrella, the supplier has developed for Alsea a unique best-in-class pizza cheese formula, key to Domino's Pizza success. Year-over-year, we have increased our volume supply partnership. We have integrated the planning process, so we adjust the volumes and delivery one year in advance. We execute a pre-physical buying during some key months of the year, where the cheese price is lower than the average price of the whole year. Supported by annual volume forecast, the supplier is one step ahead securing milk supplies in advance to cover Alsea volume demand. With this process, we secure both price and availability. The last year results of the Alsea Mexico price list versus the national consumer price index, the team has been delivering better cost than the market. We continue working hard to mitigate price increases, as we mentioned, having long-term relationship with our strategic vendors. Also, we spend a lot of effort improving our key logistics indicators to become competitive advantage for Alsea Mexico. In-stock, we achieved 99.3% availability of products for our brands. We have increased 42% in all-in productivity since 2019. Finally, our transportation cost since 2019 have a reduction of 19%. Also, we can mention that after doing benchmark, our total logistics cost is 25% lower than other logistics food service competitors. From the quality perspective, we have a strong quality program in the company. There is a supplier approval and development program implemented for food and packaging materials. We will include food safety, quality, and social responsibility criteria. Regarding food safety, our suppliers are required to be certified based on international criteria established by global food safety initiatives. Additionally, there is a surveillance program implemented in-house with our own laboratory, where we test products from our suppliers randomly. All our distribution centers have been food safety certified on SQF, Safe Quality Food, standards in the last two years. Our cold chain management is being monitored and controlled daily with a detailed traceability program from the vendor to our stores. Our internal quality assurance system, named SIHICA, Alsea Food Safety and Quality Integrated Management System, has demonstrated compliance with international requirements. In the last two years, our manufacturing operations are SQF certified. Before closing the presentation, we want to share with you that we're very proud because Logistics in Mexico has won the Premio Nacional de Logística 2022. The Logistics National Award is the highest decoration that is given to the logistic sector, to professional companies that, due to their contribution to the supply chain, have managed to become synonymous with efficiency, competitiveness at the national level. Thank you all. We can go to Q&A. We will now start the Q&A session. If you have a question, please press the question button in the browser. Please make sure you are not in full screen mode to see the button. The first question is from Mr. Sergio Matsumoto from Citi. Please go ahead. Yes, thank you. you. Thank you for taking my question, Armando and Rafael. I wanna ask a question about the European businesses. We heard from your presentation that energy is higher, but not as big as maybe then. How about the customer base? Are you seeing anything in limited service or there are, you know, less discretionary spendings? If you can give us some sense of the customer base. Also, does the current situation affect the store development plans in the next couple of years? Thanks. First of all, I would say, Sergio, we have seen a strong trend in terms of consumption still in Europe up to this quarter as well. Like we mentioned in the presentation, Vips in Spain having close to 30% growth same-store sales. Same Foster's Hollywood as well, has a mid-20s same-store sales figure. We haven't seen actually a slowdown. Third quarter for sure, we still saw positive tourism effect and people going out quite a lot. So far we haven't seen any major slowdown, and that's what's been helping pretty much overall the business in Europe. Like we mentioned before, and you also mentioned recently, the main concern right now is energy prices going up. On the comp base, if we take a look at what happened in 3Q21, we did have some benefits from some arrangements that we reached out with some of the main suppliers that we had on the cost side, and as well in some royalties that helped out in 3Q21, and it's not helping right now because of the comp base. For your second question, I guess on the expansion plan, we do not see any setback on what we are right now planning going ahead. The target to open between 170-200 stores for this year is still on. For the whole company. For the whole company. Exactly. Even with the concerns that we see in Europe, we're not moving away from the current guidance in terms of openings. Mr. Thanks. Thank you very much for your question. Our next question is from Mr. Álvaro García from BTG Pactual. Please go ahead. Good morning, gentlemen. Thank you very much for the space for questions. I have one question for Armando on the general defensiveness of Domino's and Vips. I was just curious if you could sort of speak to affordability strategies and how you're thinking about transaction growth, or defending transactions into next year. I was just wondering how you think of those brands and how defensive they may be into next year. Thank you very much. Thank you very much for you, Alvaro. Regarding Domino's, I mean, we have still, I mean, very strong in the consumption of our customers. Especially, we are raising around 1,100 orders in Colombia, 1,000 orders per week here in Mexico and also in Spain. I just was with the people of Domino's, and we are looking to a strategy of service anyway. Just to make you an idea, we are delivering right now our average of delivery in pizza is less than 21 minutes. Regarding the service, we are putting a new technology around all our geography next year, starting in February or March, that is called DSS. That DSS technology also with a GPS in our system will get us to around 21-19 minutes for stores delivery, you know. That is a big advantage with all the consumers. Whenever we would see lower times of delivery, we will see increase of orders and increase of NPS and increase of satisfaction of the consumers. I mean, with the name of the game for us in Domino's, that will be the strategic of get the best service and the best product, and that will keep us up to getting better orders in order to the competition. Regarding Vips in Spain, as Salvador said and Rafael said, is very strong. We've been seeing just tremendous growth in all the company since August 15, more or less, and the trend of sales has been going up, and it's been every week better than than ever, you know. In Mexico, I mean, just the mobility of persons still around, still going up. We have a lot of stores here in Mexico City area that are tracking better numbers every week regarding over 2019, but it's been not recovered at the levels or at the pace that we wanted to see. That's gonna be a challenge for next year. I think we are in a better and a good situation regarding our portfolio brands that we see. I mean, in all geographies, as Salvador said, we are having just a good demand of our consumers and in all brands too. I think we feel very secure or with a very favorable view of what is going on, especially we have next eight weeks that our growth, we're gonna open quite a lot of stores in that next eight weeks. 94? 94? For this quarter. 94 stores we're gonna open in this quarter, being probably the record that we ever done. Christmas is in November fourth. We're gonna launch our Christmas strategy in Starbucks. That is gonna be very strong as it's been in the past years, and also with the Navideños also in Vips. You know, there's gonna be the World Cup coming on also in 28 days. That for us is just gonna be an amazing opportunity for Chili's, you know, for Domino's of course, and other brands. We are ready to close a great year regarding demand. Wonderful. Thank you very much, Armando. Thank you very much for your question. Our next question is from Mr. Antonio Hernández Vélez Leija from Actinver. Please go ahead. Hi. Good morning. Thanks for the space request and congrats on your results. My question regarding you know, given the different consumer trends, in one end you have higher mobility and of course, that's helping casual dining and the different formats, just as you mentioned, Vips, for example. On the other hand, you have of course, the inflationary pressure. Is that driving a kind of a trade down in any of your different geographies? Or have you seen any shift or any impact from a trade down perspective within the different regions? Thanks. As we mentioned, we don't see it a trade down yet, no? What we are forecasting if something is going on in terms of demand or in terms of a recession in Europe or in the U.S that can affect Mexico, we think we have the portfolio of brands that can catch up this trade down, no? From fine dining to casual dining, from casual dining to QSR or to QSR to a family dining like Vips, no? We think that we have the diversified portfolio to catch that trade down if it's gonna be in the next year, no? We don't know exactly the amount of trade down that we can have for the next year. We don't see it yet, no? We see a- No suggestions yet. A pretty strong demand in the top line of the company. Okay, perfect. Thanks a lot. Have a great day. Thank you very much for your question. Our next question is from Mr. Rodrigo Alcántara from UBS. Please go ahead. Hi. Hi guys. Can you hear me? Hello? Yeah, we can hear you. Yeah. Go ahead. Thank you. Thank you, Xavier. My first question would be for Armando. Just curious on the comment that you said at the beginning of the call of the areas of improvements that you see mainly on the digital front. 'Cause you partially already answered this with the case of Domino's in Mexico. Just curious if you. Well, first is it fair to say that Domino's Pizza in Mexico is already like you know the standard for what you want to achieve for digital for the rest of the countries at the case of Domino's? And what about the differences that you perceive on the digital space in let's say on a Starbucks, perhaps? That would be my first question to you. The other one for Rafa would be, you know, I don't know if as a way to take advantage of the strength of the Mexican peso, I don't know if it's on your plans, you know, to perhaps accelerate some amortizations there that you have in your debts. I was curious about the net loss that Alsea appears to have reported in the quarter. If you can comment also about that would be helpful. Thank you very much. Rodrigo, yes. Thank you for your call. Regarding the digital aspect, I mean, we've been working in Domino's in the last 9 months with a company in Canada called Bounteous, and we're gonna launch. I mean, we are already in pilot tests. We're gonna launch in the first quarter of next year our new web, our new app and our new native app that it will be just an incredible journey for the consumer. Very close to, like, that journey or experience that the U.S. have. That has a lot of, especially in convertibility of orders, we will see a better performance in our application. I mean, we wanna achieve a 75% digital orders in Domino's. Also in Starbucks, I think we have a good strength there to digitalize all the orders that we can. As soon as we digitalize a customer, we can see that there is more loyalty, better ticket average, and better frequency. We are aligned to do that. In any order of Starbucks is the same. We are gonna show you probably in the next quarter conference. We will show you a little bit of what is gonna be our strategic plan for the next year, and there is, like Salvador says, there is a new technology called SDS, Starbucks Digital Solutions, that we already are putting in place. In all Latin America, we're gonna do the implementation next year, and that's gonna be also a native app run by us that will give us mobile order and pay. It will give a different kind of loyalty program that is called Stars for Everyone. That's already live in the U.S with extraordinary results, and that's gonna be also a platform for delivery. We are very anxious and optimistic about our digital strategy for the next year or so. I will show you that in the next quarter for sure, so you can be a little bit more aligned with our future regarding digital. Okay, for the second question. That's great. Thanks. In terms of the Mexican peso, we decided to increase the number of months in terms of the FX hedge that we have for the imports that we have here in Mexico. Right now we have hedged 65% of the next 18 months of the imported products that we're gonna have, no? The average of that hedge, it's around MXN 10.20. In terms of the cash position that we have, or the capital allocation, we're gonna decide next year first in terms of the CapEx that we are gonna invest next year, because we have, in terms of IT, some pretty good investments for Starbucks. We're gonna change all the POS and all. Some of the IT product that we have in Mexico and Latin. We already did that in Europe. In Europe, that's gonna help us to put my Starbucks Rewards in Europe that we don't have. Colombia yet, and in Colombia also. If we have some free cash flow for the next year after the CapEx, we're gonna decide if we prepaid part of the variable credit that we have here in Mexico, no? We have some part with Sabadell that we can prepaid next year that is variable. Also the bank credit that we have with Bancomext that also is variable. We can decide to prepaid part of this, of those credit that are with a variable rate. Because of the pretty good cash position that we have right now, we decided to buy back some of the shares. We see that the share is with a pretty good price to make a buyback of the shares, and we already buyback MXN 700 million in shares. We're gonna decide next year if we cancel some of those shares. We're gonna decide it in the board meeting next year. Okay. That's great. The idea there is that you can potentially cancel the share, right? Of these shares, we can potentially cancel it. Yeah. Great. About the net loss or the minorities that we saw in the quarter. Well, in the net loss that we have in the quarter was mainly due to the European. FX exposure Participation and the FX also that we have in Europe, no? That we have euro lower than the 20 pesos right here. That help us in the debt position because in Europe we have EUR 460 million in debt. When we put it in pesos, that help us around MXN 3 billion, more than MXN 3 billion. Okay. Yeah, that's great. Thank you very much, Rafa and Armando. Ciao. Thank you very much for your question. As a reminder, if you have a question, please press the question button in the browser. Please make sure you are not in full screen mode to see the button. As a reminder, if you have a question, please press the question button in the browser. Please make sure you are not in full screen mode to see the button. That was the last question. I will now hand over to Mr. Armando Torrado for final comments. Please go ahead. Okay. Thank you very much for your time. Thank you very much for the conference. I mean, as I said, we are pretty busy right now in the best quarter that we will report then in February when we see you again. Things are coming along well. External situations, such as energy, came to a negative effect of the quarter, but I'm sure that with the strong sales that we have and the good momentum that Alsea is having, and all the openings that we have, I'm sure we're gonna see you here with better results and another record quarter as we've been presenting and we've been really reporting. Thank you very much and have a wonderful day, and just thanks again. Thank you. Thank you. Thank you, everyone.