Good afternoon, ladies and gentlemen. We're here to present to you the new strategy of the CCC Group up until the end of 2025. Over the last one and a half years of the pandemic, the market has changed a lot, so the CCC Group has also gone through a major transformation, and that's why we've prepared a new strategy in which we can utilize all of the opportunities that we have. CCC has always been poised for rapid growth, and those are the type of goals that we have today. That's why our strategy is called Everything Fashion. Basically, the company, the group is continuing to develop. We're adding new brands and services online and offline. That's why we have the omnichannel platform. We've changed our logo. We have white and black that dominate the branding. This is actually something that determines the direction of our development. We're moving towards innovativeness, modernness, fashion. Our strategy is well thought out. It's a cogent plan, which I fully authorize, and that's why we decided to make an update or a vision of our strategy. Fashion is playing a bigger and bigger role. The meaning and significance of trends in the environment is gaining traction. Channels of sales are evolving. We see online and off-price segments actually growing by leaps and bounds. We're following the new trends in purchasing, payments and deliveries. The environment is changing very rapidly. New trends are appearing. The pandemic has changed a lot. Who is the modern client? Clients and his needs have really changed. Clients are much more online channel. They expect experience depending on the channel service. They're buying online, they're paying digitally. They pay attention to purchasing experience and additional services. They expect a personalized communication, rapid delivery, deferred payments. It's very conscious and involved, committed to persons. They look at the product through fashion prices, but also corporate social responsibility. The customer is changing very quickly and so is the whole market. The fashion market and the footwear market has changed and is being rebuilt after the pandemic in 2025. The market will reach the value of EUR 280 billion in the countries where we're operating. This is growth of 26% with respect to 2020. The major lever, the driver of growth is going to be online. E-commerce in the total market will be nearly 1/3. The point is Everything Fashion, and we're gonna be able to grow several times. Our new strategy is a continuation of the previous strategy. What we're planning to do is to achieve our goals that we had put in place for GO.22 too. I'd like to thank you very much. I'll now go ahead and ask our CEO to join us. The starting point for Everything Fashion is our GO.22 strategy, the foundation for our operations over the last two years. A good diagnosis and an action plan, combined with a wonderful team, have enabled us to strengthen our organization despite this period of enormous challenges. As a result of the lockdowns, 2020 was a very peculiar period, and the achievement of our strategic goals was somehow impeded. Even despite that, 2021 has been a successful year. We want to achieve and overrun our top-line target for 2021 in GO.22. As a result of the work we've done over the last two years, 2022 and then subsequent years will be further acceleration of the group. To recap, we can be quite satisfied with the sales results in 2021, and we gaze with optimism into 2022. What sort of actions will we take in order to achieve that? Basically, we have defined eight pillars of our operations. We have dozens of initiatives under the strategy, and we've actually achieved the bulk of them. Let's take a look at the most important achievements in each one of these pillars. Which pillar should I start with? Of course, I'll begin with the customer, because GO.22 is a journey that we started by walking step by step with the customer. Basically we talk about the customer everywhere we are and with a large capital C. The preferences and the needs of the customers determine the directions for the development of our products, services and tools. With this type of approach, we are implementing the most modern solutions in our sales channels. We attach a lot of information and a lot of importance to feedback from our customers. We're regularly polling customers and we're changing, we're evolving. We've also done a lot in technology and data, which is a very big change. You can see this outside on the outside because of the enormous number of awards that we received for the group. Technology and data have become the foundation of our activities. This is what we've assumed, is that 100% of our business decisions in the group will be based on the basis of data. We're building and developing systems to aggregate them and to process them with lightning speed. Loyalty clubs are a flagship example. We have nearly 12 million customers in our CCC Group. Our focus on technology has accelerated development in another area which is omnichannel. What does the ecosystem in the omnichannel trade look like in CCC Group? Basically, over the last two years, we've put a lot of focus on digital channels. Nearly 50% of the group's income comes from e-commerce, 10 percentage points more than our final goal for GO.22 2022. This is because of the rapid growth of our e-commerce platforms. Compared to 2019, we have added some 45 unique digital points of interaction with our customers. In less than two years, we've more than doubled the number of e-commerce platforms. Omnichannel is above all a way in which we can integrate online and offline and wipe out the differences between them, having the natural flow from one channel to another. We're digitizing our stores. We're adding unique and fascinating technologies like foot scanners, tablets, internet kiosks, express deliveries within 1.5 hours. We're combining stores with e-commerce using hubs, logistics hubs with our stores. To conclude this area, we're happy with the level of digitization in sales and the sophistication of our omni-channel approach. Where has a revolutionary change taken place in the last two years? We can say this is the product because the product is our greatest strength. We can multiply the examples, and we've mentioned them many times in our earnings calls. We focus on the strong brands we have and developing them. We've increased our team numbers by more than six times, team numbers that are responsible for our product development and procurement in the group. We're gradually adding new brands, we're reaching new groups of customers. We're adding apparel, and we're increasing the addressable market substantially. Our products have the best marketing backup, and we've talked about this during our earnings calls. Our innovative communication strategy of 360 degrees means that we're the most interesting company in the industry. Multiple times we've emphasized in our conversations with you that we're proud of how we've redefined the product and the communication in the group. CCC Group has gone through major changes as an organization that streamlines its processes. We've added tools which make it possible to effectively manage the organization based on data. We've also rolled out OMS, so Order Management System, which we launched last week. We've integrated our store inventory stock along with the warehouses, and we're very pleased with the business effects. We've centralized selected functions, organizational functions, and achieved synergies. We also have information about deliveries, and we have the portal for vendors and TMS, which is basically a Transport Management System. We've also increased our logistics capabilities several times in e-commerce in order to be able to scale up without any problems and adding fuel for online development. What sort of tasks have we achieved in financial stability? Well, we have run effectively the process of refinancing. As a result, we've been able to achieve a long-term structure for group financing. We have added or attracted new investors, very valuable investors for eobuwie, and we've also purchased stakes in eobuwie from its owner on terms and conditions that are favorable to the CCC Group. Another area where we're happy with the achievements is in sustainable development. The best metric here is that two years ago, we had wanted to have an A rating upgrade under the MSCI ESG. We did this two years earlier than we had anticipated. We're among the leaders, and we actually intend to go farther and higher. This is one of the many distinctions we've had received in the next few years. We're the eleventh globally and the third in the industry when it comes to inclusion, diversity and inclusion. We have LSEG, which is actually rating several thousands of entities. We've also been awarded as the most sustainable company in the footwear industry, according to the World Finance Magazine. We're the most sustainable company across the world, according to this World Finance Magazine. There are many, many other awards and distinctions that we've received, and we've advised you of those during our earnings conferences, and we've also talked about it through our effective channels of communication. One of our flagship projects is a responsible product. Basically we want to do ecological development, and we're doing that through our collection, which is called Go for Nature. The most important thing is the last one, and this is part of the development of the CCC Group. What is that foundation? We have people, inspiring culture and joint shared values. CCC is one of the most desirable employers capable of attracting the top talents. We're focused on continuous development of competencies, both specialist competencies, as well as managerial competencies. We're working as a team. We're aiming higher, further, broader. We've created a winning culture. You know, we've gone through the test of fire. Who are we today? Let me show you a short video to tell you, to illustrate who we are. As you've seen, today, we're a well-structured conglomerate with complementary brands, business lines, creating and forming a strong and ambitious group. These brands address different segments of the footwear and apparel market. For more than 20- years, CCC Group has successfully been building its market position and its market recognition among customers. Customers are at the very center of our strategy. They're the focal points. We've summed up now who the CCC Group is and how we've gotten to where we are. Let's take a look at where we wanna be in 2025. Our mission is for fashion to be available to everybody everywhere. We want to emphasize three things through this model. Above all, we're showing democracy. In our group, every customer can find something for him or herself. The other thing is fashion. Everybody can dress according to the utmost up-to-date trends. The third thing is that we wanna be available everywhere. Omnichannel approach, whenever and wherever you want. What is our vision then? We wanna be the biggest omnichannel fashion platform in Central and Eastern Europe. Above all, we're all about fashion, making fashion available through omnichannels. We're doing it the best in the region, and we wanna be even stronger. This journey hasn't come to an end. Basically, the journey is just getting started. What sort of values are we guided by? Our organizational culture is structured by the values which are a compass in terms of trying to achieve our ambitious goals that we're talking about. We're a company that is driven by customers. Basically, I mean, we're really driven by meeting their expectations. Basically, the individual in our organization are released as a result of working with our customers. We're proud of the product, we're proud of the service we're able to deliver to our customers, and we're looking for good ideas, out-of-the-box ideas that develop the business. We constantly look for areas where we're gonna be able to improve our effectiveness and efficiency. We wanna do this in a responsible fashion, responsible with respect to the world, responsible with respect to our business, to our customers, and we wanna be responsible for ourselves. Basically, responsibility means that we have respect. That means that's the basis for our cooperation. Basically, we're a place for the best people to work. That means that every member of our team has place, has room, and headroom to achieve his or her potential in terms of making it, realizing our vision in order to provide fashion to everyone, everywhere. What is the basis for doing this? First of all, we wanna triple the size of the business. The CCC Group story has always been about growing the business. It will continue to be growing the business. By the year 2025, we wanna triple the size of our business. If we look at the last 12- months top line, we're developing the categories, and we wanna grow even more. We have four major growth drivers, CCC, HalfPrice, MODIVO, and eobuwie. The strength, the momentum of the last two will become even bigger, and they will gain in importance. What will be the profitability of this business? It's gonna be a high level of profitability. We assume that it's gonna be at least 12% EBITDA margin. Of course, there's a lot of room for upside. This is a conservative assumption. That's certainly true. We want to strengthen our EBITDA margin. We wanna scale up our e-commerce channels, and we want the off-price concept to mature, which I mentioned was launched in May of this year. What will the product offering of the group look like in 2025? We'll have other categories growing other than eobuwie. From more than 15% to more than 1/3 in 2025, we have the apparel segment, which is three times bigger than eobuwie and than footwear. As a result of this direction, we're gonna be able to grow the potential of the growth, the upside potential in terms of the addressable market. We have a customer, we have a loyal customer, which is buying from us, footwear, and we're involved in cross-selling, and we wanna have the full look sales and to add new categories for our customers. We have experience in this area. MODIVO and HalfPrice are big formats on this market, and they are growing dynamically. Today, the CCC Group is Everything fashion. Our offering has fashionable footwear, fashionable apparel, as well as accessories. We can find everything here, everything that's fashionable and is related to fashion. Where will customers be buying our products? Above all, it'll be through our online channels. Online sales will achieve at least a 60% watermark in terms of our sales mix. Recent years have shown us that customers are more and more willing to buy online. We're coming back to normalcy in our stores and customers are still buying online. That's why we're developing our mobile applications. We're gonna have more storefronts with the web. We continue to develop our online presence. At least 60% will be of us will be a digital organizational platform in terms of omnichannel activities. How will we be striving to achieve customers? Above all, we're gonna be working on customer satisfaction. Our benchmark is going to be NPS. We want to improve that by 10 percentage points for each one of our brands, for each one of our strategic brands. You can see how important we've been able to grow NPS over the last two years. We wanna go farther. This is the most important indicator for every organization in terms of determining how client-centric a given organization is, and by constantly improving the customer experience and our digital product. We're proud of what we've done. We wanna continue improving it, and we're gonna be able to improve and enhance that customer satisfaction with respect to each one of our brands. What we'll be guided by? As we achieve or pursue our targets, we're gonna look at, of course, sustainable development practices, and we have goals like circularity, low emission, diversity and transparency. We're continuing to develop them. We'll talk about that further during the later part of our presentation. We talk about sustainable development. The metric of our success will be above all, our ability to improve our MSCI ESG rating to the level of A+. We also wanna have satisfaction from engagement, employee engagement surveys. We're gonna track that in terms we want to inspire even more employee engagement. We wanna have our best team in the world to be able to utilize its potential and achieving its full capability. Let's take a look at these goals that we've talked about, what our goals are. These are the KPIs for our strategy in GO25, Everything Fashion. It's well-balanced, very well-connected, interconnected. We have goals that will enable us to achieve our success. How are we gonna be able to achieve that? I'm gonna like to ask Karol Półtorak to join us on stage and tell us a little bit about how we're gonna be able to achieve those KPIs. Thank you very much, Marcin Czyczerski. We've told you about our goals. Now let me tell you a little bit about how, in what manner we plan to achieve those goals and what will drive us into the future. Let's begin by saying a few words about our business model. Over the last three years, it has crystallized. It's a truly omni-channel platform. It's a very voluminous platform. It's easily scalable, and it's well-structured. The key to this business model is what we see in this slide. We want to satisfy customer needs in a way in which customers will choose themselves. When we talk to each other, it's not so much to sell, but we wanna help people to make to buy. If I come back to the model, it seems that it's complicated, but it's really straightforward. The foundations of this model are all of the synergies and the joint resources, the know-how that we have within the group. It's knowledge about customer preferences. Joint purchasing, logistics, tools, and sharing knowledge and experience. This is also very important. The benefits of economies of scale. These are some of the examples. Basically, these are the kind of things that fill in our foundations. We have the brand names or the retail formats that we have. We have the full price segments, but we also have off-price segments as well. Since we have a large number of these brand names, we're gonna be able to achieve and reach various customer groups. As we move up, we can talk about the channels. Here, again, we're very strong in our stores as well as online in our own digital channels, but we also can be selectively in other marketplaces. Basically, what we wanna do is strive to allow customers to buy where they wanna buy. We have products. We started with footwear and accessories. Now we're in a phase of strong expansion into apparel. Later, we have other lifestyle categories that will be added. It's easy for us to join or add additional categories or brands. In the near future, we can be also a marketplace platform, which will make it easier and accelerate the ramping up of our offering. At the very top of the pyramid is our customer, right? Customers, we want to serve customers exactly the way the customers wanna be served. Our model also creates a relatively unique way for products to circulate through the variety of channels. This is actually illustrated by the graph. I think this is a pretty unique, but not easy to copy and this is something that forms our competitive edge. This model enables us to select the own brands and also the brands of global brands. If we look at the perspective of individual channels as well as the products that are placed here from the full price, and basically, we can move them from the full price to the off price. That way, if products haven't been sold at full prices, they, those products can be put into off-price channels. This is attractive to us as well as to the brands that cooperate with us. That's a little bit, that's it about the model. Let me go ahead and tell you a little bit about the outlook for the various brands. Let's start with the CCC brand, which over the last two years has gone through a major change. It's become more fashionable, at the same time offering wonderful prices, and at the same time, it's focused on stores, and it's grown its digitization. What sort of goals and aspirations do we have for CCC? Above all, we assume that the CCC brand business will represent roughly one little bit more than one quarter of the top line of the overall group. It will no longer be having the dominant position in our top line as up until now. Directionally, our aspiration here simply is the continued strengthening our position as the omni-channel leader in footwear in this part of Europe. If we look at the major growth drivers which we have in front of us, A, stores where we'll see more and more manifestations of digitalization as well as optimization in terms of store count and the conditions on which we run those stores. B is the development of CCC's own brands portfolio. I'll tell more about that in just a moment. C, continued expansion of digital sales based on ccc.eu, as well as our mobile application. We will describe these levers using specific strategic indicators. First, we wanna have 10,000 PLN of sales at the omni-channel level as an equivalent of 1 sq m of store space. Secondly, we want to push up our margins. We want to have margins in the range of 57%-59% when we talk about gross margins. The third thing we wanna do is we wanna develop quite substantially our product offering to give our customers a much greater selection, three times bigger selection, thanks to the opportunities that online gives us. At the same time, we wanna make this offer available in our brick-and-mortar stores as a matter of utilizing the digital solutions which we've already rolled out and which we will continue to roll out. Now let me say a few words about these, solutions, that we've implemented. Now you can see this. Basically, we're developing what we call an ecosystem, which is the world of CCC, and we invite customers to join us here. We're able, in a fluid basis, to mix the physical and digital experience, and this is the basis for our omni-channel approach. This is what we're betting on in the future. The store is and continues to be the most important center, focal point of this ecosystem, but it will be surrounded by a full plethora of, neighboring services based on digitization. Our CCC stores are very strongly digitized. We have wonderful kiosks which make it possible for you to order basically merchandise or a missing dimension. If it's not available in the store right then, it can be delivered to your home or to your work the very next day. We've got esize scanners. We have digital screens. We also have CCC Express, where you can have a delivery within 90- minutes and so on and so forth. We have a lot of good things here, but we're not stopping here. Over the next two years, we're gonna be working on more powerful tools to support our cooperation with customers for our staff, and we'll have supporting elements to underpin our communication, including, for example, RFID. Basically, we can say a lot of things are gonna be happening digitally, and this is something that will continually be happening. In CCC, we want to combine the best of the offline and online worlds, and this is simply what customers expect today. Now let's move on to discussing the outlook for eobuwie, the leader of online footwear in CCC. I give the floor right now to Damian Zapłata, who a few months ago joined the group as the CEO of the eobuwie company. Thank you very much, Karol. It's very nice and a great pleasure for me to be able to meet with you and represent such a dynamic and interesting company like eobuwie. I believe that eobuwie is one of the most interesting e-commerce projects in the region. This is one that has a lot of growth potential over the next few years. My first experience with this brand was roughly five years ago when one evening I bought some sneakers and they showed up at my house the next day around noon. This generated a wow effect for me as a customer. I can say that our team in its day-to-day operations is driven by being client-centric and entrepreneurial. Today I'm gonna tell you how we want to win the hearts of customers and continue eliciting this wow effect. Let me begin with the eobuwie brand. Our goal is to be the leader in sales of online footwear in Central and Eastern Europe. Basically, over the next few years, up by 2025, we want for eobuwie to be one-third of the CCC Group business, and this is roughly PLN 7 billion of revenue. How are we going to achieve this? Above all, we wanna focus on accelerating growth on international markets. The next important aspect is we wanna continue developing our offering by implementing vertical marketplace for brands and suppliers of footwear. We will also focus on developing a mobile channel, which is important for fashion, which would make it possible for us to loyalize our customers. One of our top priorities is also to enhance the level of international logistics to make sure that we can deliver our products on a next business day approach after purchase orders are placed. We want to focus also on growing conversion, where we wanna do that through the most modern e-commerce platform in this part of the world. Naturally, these activities and priorities involve the achievement of or pursuit of very specific goals. I'd like to talk to you about those goals. Above all, what we plan to do is for some 80% of our top line to be generated from outside of Poland. By focusing on local customer needs and the local aspects of our global offering and creating an international organization, I'm convinced that we're gonna be able to create and accelerate our growth abroad. The next goal is to focus on the mobile application as our biggest sales channel. This will enable us, above all, to satisfy our users for them to purchase conveniently and frequently using our platform. If you wanna be the leader of the online market in e-commerce, of course, you have to deliver products very quickly. Here again, our priority is next day delivery, next business day delivery. Up to 40% of our deliveries we want to have on a next business day approach, and that's why we wanna develop our logistics centers on other markets outside of Poland. In the future, in a few weeks, we'll open up our first hub in Bucharest, and this will enable us to strengthen our position on the Romanian market. At the same time, we're going to work on conversion, which over the next few years, we'd like to increase that by, ramp it up by 50%, and we're gonna be able to achieve that through personalization as well as optimizing the purchase path. We're building strong and modern team, a technological team, which will be capable of achieving this goal. Naturally, achieving and maintaining the leadership position is possible, thanks to our unique, unrivaled, and specialized business model. We're focused on customer needs who buy basically footwear online. There are very few companies of that sort in our region of the world, and this model has, in fact, four pillars. The first one is having the broadest and the attractive offering. We want to double the size of footwear in our offering, and we wanna offer global products as well as local products. This marketplace product will make it possible for us to achieve that in a cost-effective manner. The second pillar are basically convenient deliveries and returns. I've already mentioned that above all, we want for the bulk of our deliveries to be delivered on the next business day. Our team is also working on innovative forms of delivery, like same-day delivery or fully digitalized process of returns. Of course, we will invest in our technological team and our platform, which is already highly specialized. It's dedicated to footwear, basically a search engine, dedicated content, product base, which nobody in this part of the world holds. At the end of the day, an important competitive edge held by our company is our omnichannel approach. Right now, we have more than 20 points of sale in Poland supporting our online sales, and this makes it possible for us to offer a unique service like reserve and collect, and also the ability to try on shoes without paying. We think this is something that will drive our customer satisfaction results. As you can see, we see a lot of opportunities for rapid growth, some more than what we had imagined in the past. That's why over the next couple of years, we want to invest additionally in these four areas. In that manner, we'll be able to accelerate our growth, and we'll be capable of building our market share. Of course, this will entail some investments, and temporarily, we'll have a lower profitability over the next two years. As a result, we'll be able to strengthen our dynamic growth. One example illustrating our approach is the opening of a eobuwie store in Prague, Czech Republic. Basically, we can say this has exceeded our expectations and has clearly contributed to strengthening our competitive advantage on the online market. We're capable of offering rapid deliveries in the city of Prague and also reserve and collect service. We have very good business results in the store, and it's become profitable very quickly. This is the direction we wanna follow as we develop in other capital cities around the region. This is an example of how we're able to effectively build our competitive edge as a result of having a specialized model of action. Our team, over the last months, has prepared a very specific operating plan for the upcoming couple of years, and it's based on 15 core initiatives, which will enable us to achieve our objectives. To recap, we're gonna focus on having customers have the best customer experience. We wanna increase the number of customers to 10 million, and we want to bump up our conversion rate to 50%. The next area of concentration is the offering and the price, where we want to substantially increase the number of products. What we wanna do is for 80% of our product range to be in the best market price. If we look at logistics in turn, we wanna truncate or shorten the service time by 50% at the warehouse by automating things. We wanna build new hubs and develop our logistics network, and that means we're gonna be able to shorten the delivery time itself by 20%-25%. Post-sale experience is very important. Here we're gonna concentrate on lowering three times the number of contacts with customers while maintaining a high NPS score in excess of 70%. Basically, this is a well-tested model, business model that we want to bolster even further. Now we can go on to a second brand in a group, which is MODIVO. It's a young project which was set up in 2019, and from that time it has grown very dynamically. Over the last 12- years, we've generated more than PLN 400 million in revenue. Over the next coming years, we believe that we're gonna be able to maintain that pace of growth. What is our aspiration here? Above all, in 2025, we want MODIVO to generate some 15%-20% of the group's top line, which translates into a business worth more than PLN 3 billion. This success will be based on several pillars. MODIVO is above all the broadest multi-category offering, which is addressed to fashion trends and lifestyle. We don't want to limit ourselves just to footwear and fashion. We also wanna offer to our customers the ability to buy products in other areas like beauty, home decor, and lifestyle. It's the number one vertical lifestyle marketplace in this part of Europe. Today, many brands have limited capabilities of reaching customers online. We wanna make that possible, such that we'll be able to build these brands, their strength on the e-commerce marketplace, in opposition to other players on the marketplace that have a multi-category approach. This model proves itself and works quite well in lifestyle and fashion categories. Next area is focusing on purchase experience by, you know, delivering innovative services like the same-day delivery or, you know, digital trying on rooms and localization, loyalization, and personalization of our platform amongst, you know, the customers who are buying from us. Let's take a look at some of the key performance indicators for this business. This platform will have 2.5 million products, so SKUs. We'll have more than 3,000 brands and 15,000 suppliers or vendors. Our plans are for 1/3 of our top line would be delivered through a marketplace approach. What's important here is we would like for our top line per customer to grow three times. We wanna triple it. The growth of MODIVO, to a large extent, will be based on expanding our offering. Let's take a look at this in greater details. Today, MODIVO offers roughly 150 stock keeping units products. It's three times bigger than it was 1.5- years ago. In the meantime, we've built, put together a strong category team, and we want... We plan to roll out a marketplace in the first quarter of 2022, and this should make it possible for us to make our offering growth more dynamic to make sure that in 2025 we're gonna be able to achieve offers worth. We wanna have 2.5 million products by that time. Above all, this growth will come from new categories. They'll represent roughly one half of our offering categories like beauty, home decor, lifestyle. Well, these will set MODIVO apart, and they will basically deliver value to our customers. The development of this offering will be accompanied by higher customer numbers. Again, here we wanna deepen the synergies between eobuwie and MODIVO. By 2025, we wanna maximize the number of customers buying from MODIVO as well as eobuwie. People who are buying shoes have also needs in other areas linked to fashion, and we're very effective in terms of converting users in eobuwie into MODIVO. Today, more than 60% of our customers from MODIVO are also eobuwie customers. Let's imagine it. If we look at the potential we have, when we convert 60% of our customer base of 7.8 million customers, if we're able to convert that into MODIVO would have roughly four, you know, 4 million customers. As a result of this, we're going to double the frequency of purchases. We want 2 + 2 to equal 5. Let me go ahead and give the floor now to Adam, who will tell us a little bit about our newest project, which is HalfPrice. Thanks, Damian. I'm very pleased that I'm gonna be able to tell you a little bit about our youngest brand, which is HalfPrice. Let me tell you a little bit about the experience we've had from the moment in time when we launched our concept and about its further scale-up. Maybe first a little bit about our aspirations. Our aspiration, we wanna be the leader of off-price in Central and Eastern Europe. We want to have 15%-20% of the top line of the entire group to come from this brand. This would be roughly more than 3 billion PLN by 2025. How do we wanna do this? We wanna do this through development and expansion on the key markets, the markets the group considers to be key, by building and developing a strong online platform. We wanna, of course, utilize the competencies the group has in the full price segment, and basically this converts into the following, strategic KPIs if we look at expansion. Today we have 38 stores. We see potential ultimately for roughly 250 stores with an average, say, area of 1.5-1.6 thousand sq m. We're gonna take an analytical look at this. We'll verify, of course, performance on an ongoing basis. In the upcoming days, we're gonna start with our e-commerce, and we want for e-commerce to represent ultimately at least 20% of HalfPrice's top line. If we look at profitability, we're looking at a 45% gross margin and an EBITDA in the double figures. I propose that we go back to the beginnings of HalfPrice and sum up the plans and potential in a broader context. Once again, the diagnosis that we had, which turned out to be very on point, the development of the value for money segment and looking for occasions with respect to well-known and liked brands. This is something that our customers like. We have this market that hadn't been utilized, tapped into in Central and Eastern Europe. What have we achieved up until now? Let's not forget that we're still a young concept, and despite that, over the last 12- months, we've been able to build a very strong team. We've opened 38 stores in four countries, and another 10 i-stores are in construction and will be opened by the end of the year. We're just a few days before starting our online sales, and this year, customers will be able to enjoy making their purchases on this platform. We see further upside to scale up. Let's go ahead and take a look at some of the lessons and conclusions we've drawn. First, we see that there's very good uptake among customers, both in Poland and abroad. Secondly, if we look at the structure, the HalfPrice format, because it has many categories, generates higher sales and a margin per sq m versus CCC. We can say the incremental growth is some 20%-30%. On top of that, we're developing our brand offering along with accustoming, making customers accustomed to this format. These stores will go through a maturation process in order to improve their performance. The entire time, we see how much we can improve in operations, to become even more effective. It's this type of effectiveness that we want to enhance through sophisticated data analytics and by developing our synergies with the CCC Club. All of these aspects, taken together, give us quite a bit of comfort in terms of our ability to scale up. Let's go on to look at the fifth brand in the group. This is DeeZee. I wanna go ahead and give the floor to Karol to tell us about that fifth brand, which is DeeZee. Thank you very much, Adam. Today, DeeZee is the smallest of our brands, but at the same time, it's a strong and important brand in the overall architecture of the group's own brands. DeeZee, how do we see it in the near future, strategically speaking? Well, this should be a pan-European fashion brand that would be very strong in the social media, offering shoes, apparel, accessories, and other categories. It will be quick and agile. Basically, we're looking at the women segment, young and fashionable clients. We're gonna be in the e-commerce space on dozens of markets across Europe. We wanna tap in full into the synergies from the group, selling directly to customers, but also through external marketplaces, platforms, which will help us to build the recognition it has on new markets. If we look at the outlook up until 25, our plans are for DeeZee to represent nearly 5% of the top line of the group. Contrary to the appearances, that's not so small of a figure. business parameters we'd like for DeeZee to achieve, well, they're as follows. Above all, we want to increase the top line 10 times from 2020 to 2025. Let me remind you that DeeZee has already grown four times over the three years from the moment in time when it joined the CCC Group. Secondly, fashion should represent more than half of the sales, and sales outside of Poland and Europe should also concentrate a very clear majority of DeeZee's sales. Now, of course, we've come to the end of our discussion on the various brands. Let's go ahead and take a look once again at the outlook for the overall group. From the point of view of our customer segments, we are operating, and we will continue to operate, as a group of intelligently connected complementary brands. They're complementary in terms of the offerings, so ranging from footwear to apparel and on into new categories, but it also be complementary in terms of prices. We want to basically cover all of the important price shelves on the market. From a geographic point of view, the CEE region continues to be in place, and this is quite obvious. This is our home market, and this is where we want to focus our attention. We also plan on a selective basis to go beyond the CEE market. Here again, we have eobuwie, MODIVO, and HalfPrice in selected European, Western European markets. We also want to develop CCC in the CIS region, so basically Russia and Ukraine. If we look at market shares in the footwear category in our key nine markets, we want to increase our market share from 16%-22%. On top of that, we've already talked about this quite a bit. We're entering the market, penetrating the apparel market, which is much bigger, and our aspiration is to utilize our strongest brands, MODIVO and HalfPrice. We want to contend for another 3% market share. What does this translate into in terms of total revenue? We would have a realistic chance of actually tripling our business, size of the business. Well, on one hand, it seems that this is quite a bit, but as we bring together the upside potential for the various brands, and we have in mind these brands will grow, online will grow. We'll have new categories coming online. The triple growth is something we consider to be suitable and achievable, and now we have a unique opportunity to achieve that type of growth because the market is rapidly transforming, and we want to deliver this growth. Let's go ahead and look, go through a discussion of the plans in the various areas which will basically feed into our financial aspirations. Now we wanna discuss selected foundations of our online channel platform. First, the product. Here we're pleased with the extensive improvement in this area in the last two years. We wanna continue that drive towards improvement. We wanna be faster. We wanna propose clients more frequently, create opportunities, new things, what we call capsules during the season. We wanna continue emphasizing ecological or environmentally friendly lines of products in our offering, but we also wanna develop our collaboration with other brands. We wanna collect and use hard data when we make decisions, and we make projections in terms of what we want to order and what sort of quantities we wanna order. What's also important is we're following a separate strategy for sports, which is particularly important because we wanna generate some 30% of the growth of CCC under this brand and through this category. If we come from a pure product approach to the brand level, we have put together a very strong team in marketing. We've received some distinctions recently, and we're gonna focus in this area on six key own brands in which we've invested and continue to invest in 2021, and we're gonna continue investing in those brands. These brands will be a strong lever for our margin and an instrument for us to reach new client groups. A lot of things are gonna be changing in the CCC marketing. We are thinking about excellent creativity, also 360° marketing, so wonderful cooperation between reach campaigns and performance campaigns. We wanna track as many things as possible and place emphasis on the effectiveness of every single złoty we spend in marketing. What's also important is that we wanna be even more relevant to young customers. Here, even today, a big role is being played by our digital channels, and we see many more younger customers, and we're elated with that. Not only through digital channels will we be doing that. As you can see in this picture, for the first time in the history of CCC, we saw lines or queues into the stores, but not because of a promotion, but because of our store. In the back-to-school campaign, it became a relevant place for young people, a place where you could live through some experience something valuable, something that goes beyond just, you know, doing shopping. Here, the second picture, just to give you some explanation, visualizes our branding activity during a concert this autumn, during which we had the opportunity to reach some 40,000 young people. Let me go ahead and dwell a little bit more on our brand portfolio. If we look at our own brands, we've purchased a few strong and recognizable brands in Polish market like Badura, Simple Americanos. We bought, you know, basically the brands and the customers. What we see, this is a complete brand portfolio that combines the full map, but it's also complementary. You don't really see any overlap of one brand over another brand because brand development involves prioritization. This is what we call intelligent management, smart management. We have these six strategic brands, Lasocki, Gino Rossi, Jenny Fairy, Sprandi, DeeZee, and Badura. Each one of them, each one of these strategic brands has its own source of strength, clear identity, direction of communication, and customer segment to which basically it's targeted, it's delivered. We're gonna continue to consistently develop these brands. We're building from the ground up a team of brand managers. We're building them, sales windows and social media profiles. We want to allow them to develop outside of the group. One example is Sprandi, where we wanna reach new customers through Allegro. We want to use Allegro to reach male customers who are looking for their sports shoes. If we look at other brands, external brands, third-party brands, we wanna build the broadest possible portfolio available to our customers on our platforms, especially in eobuwie, MODIVO, and HalfPrice. What's important here is that we're going to focus our attention on strong relations, multi-dimensional relations and cooperation with our key vendors under a 1P and 3P formula, full price, half price, helping them realize the brand goals of our partners. Here we have a lot of experience. We've been cooperating with more than 1,000 brands, and we'd like to pump up that number of partners further. Our goal is to get to 3,000 brands being available on our platforms by 2025. Now if we could go on to brands, from brands to customers and customer bases. Today, we have 23 million unique customers in our group space, and this is our biggest asset. This asset base, this client base is something that we look at through various segments and through various cross-sections. We've basically greatly developed our analytics. We have a very strong data science team, and we have the right types of tools. For illustration, we're recording more than 1 billion events per month, online and offline. We're doing this to better understand our customers. As in the first half of this year, we have refreshed the CCC Club, which we call the CCC Club 2.0, and we're working with a group of well-known global brands that give benefits to our customers. As a result, we've been able to drive up the average margin per client in the loyalty segment, and this is in excess of 80%. That's a lot. This is one of our fundamental KPIs in order to increase the number of customers in the silver and gold segments and convince customers to change their status because this will generate benefits for them, and we'll be able to make our relationships with CCC more profound. In the future, we will continue to develop sophisticated analytics. We'll utilize a variety of models, predictive models. We'll utilize analytics to a greater extent in terms of how we build a customer lifetime value and how we manage it. We think this is gonna be a great lever for our value in top line and the volume of our margin in a given segment or cluster or per customer. As I continue this idea of customer lifetime value. Well, this slide illustrates the classic life cycle of a customer. At every stage of life, we wanna have the right goals, the right teams, the right tools, and the right measures. Intelligent customer lifetime value management is possible, will be possible to a greater and greater extent, thanks to analytics, thanks to data. We should also emphasize, thanks to great technology, which makes this possible, supports it, and will enable it to develop further. This is the best point in time to give the floor to Adam. Our Vice President, responsible for technology and digitalization. Thank you very much, Karol. The CCC Group has been developing for many years, and we can see this in particular in terms of digitalization and digitization, not only in electronic channels, but also in stores, traditional brick-and-mortar stores. You can see technology, the newest solutions like esize.me or the kiosks, the internet kiosks. I'm very pleased that I've been able to join this team because in the near future, we anticipate an even greater amount of acceleration, more and more investments over the next four years. My colleagues have already talked about that. This requires quite a bit of investment into the technology of the overall group. When we look at technology and the foundations that we indeed have in place in order for the strategy to develop at its own pace, we've basically put that into five business foundations. Customers, above all. Customers have to be served omni-channel fashion, in a convenient fashion, and in a way that they expect. Second, we want our stores to be modern places, venues where customers feel well served, employees feel that they have support from technology, and they have to be capable of providing services to customers in a professional way. The next thing is digitalization and intelligent utilization of data. A smart use of data. This is the fuel for the future. Customers should feel that we understand customers' needs, that we're able to recommend the products that customers need. At the same time, we should be able to tap into the modern technology in order to optimize our processes. We're talking about logistics, the supply chain. We're gonna use artificial intelligence, which we've implemented to some extent over the last few years, but also robotization, which will also improve the supply chain. All of this has to be done through innovation. We have to be an organization that has a modern approach with respect to the future. If we deep dive into the details, we look at the foundations for the operation of your company or organization of the future. Basically, people with skills, technical skills, technology, technological skills. Above all, people who are in the organization who are united with people in business, they're capable as partners to achieve and run the projects, the initiatives, implement them, sit down and create, that future together. All of this has to work under an agile methodology. In its foundation, this should be predicated on the newest technology. Above all, this should be services, microservices, containers which can be developed independently, but at the same time, interoperability is of crucial importance. In modern organizations, this is all situated in the cloud. The cloud is a standard where we have access to the newest technologies. We also have a certain level of safety, which means that we'll be able to run the company safely. What is the best that it gives? It gives us flexibility, the ability to utilize different models, artificial intelligence to process data and fulfill the needs of our employees and customers. When we look at this agile model, what's important is when we talk about internal development and the applications we currently have in CCC, we will try to develop them to the greatest extent within the framework of our own resources. All of this taken together should mean that the organization over the next three years will become much more digital. Above all, over the next 1.5 years, we want to hire some 200 people with technological competencies and skills to have even more internal development opportunities and to be able to apply the most agile methodology in terms of where the customer is. This should enable us to accelerate the time of making changes and providing the functionalities that the business expects of us and the customers expect. At the same time, it should make us much more efficient. We wanna do all of this by 2023 in such a way that in subsequent years, this environment would be fully optimal and needed in order to deliver the strategy. I've already mentioned a little bit about the supply chain, so I'd ask Igor to join us, and I think he's the best placed person to talk about that subject. I'll invite him to join us at this time. Thanks, Adam. As Adam said, we want for the value chain to be managed and supported by new technology. One good example here is the order management system we set up as a pilot a few days ago. Basically, it gives us 100% availability of stock in the warehouse as well as in our stores. Having in mind the current logistics challenges, we have the container crisis, we have production downtime, we have rising transportation costs and limitations to resources, and that means packaging. We have a strong supply chain, gives us a competitive advantage. One example of CCC's strength in this area is how well we've been prepared for the spring and summer season of 2022. What does our supply chain look like right now? We have a broad portfolio of suppliers with many years of relationship behind us. We have two well-organized hubs in Polkowice and Zielona Góra. The third thing we have, as an example, we have the ability to fulfill online orders within 2 hours from the moment when they're placed in nearly 40 cities across Poland. Now let me tell you a little bit about our plans with respect to the year 2025. Our growth strategy up until 2025 is predicated on three major pillars. First, operational perfection, digital integration, third is cost effectiveness. We're focusing on customers in a holistic thinking about end to end. From production all the way to the final customer. Under these pillars, what we will do among other things is develop our supplier base. In leaps and bounds, we want to increase our capacity and the effectiveness of our hubs, logistic centers. What does this mean? We wanna open up an e-commerce center in Romania. We wanna move a portion of our e-commerce operations to central Poland, and we want in that way to increase the percentage of deliveries directly to customers within a 24-hour period. We'll expand into eastern countries, so Russia and the Baltic States, but potentially also some new western customers. That means that we might be opening up some new logistic centers and with such a expanded network. Implementing this system of products being visible in real time is another initiative we have, which is RFID. Tapping into the experience from other industries, we're gonna start up a project, a program which we call Lean and Agile. It's not just a program for the supply chain, but it's also for our stores. It's a matter of standardization, shortening operation times, and at the same time will improve the quality. At the same time, we're gonna be able to speed up the flow of goods across the supply chain. This in turn, will basically, transfer or translate into reducing stock levels in the group. This is one of the more important elements of our strategy, which is part of the program to optimize our working capital. When we talk about optimizing working capital, this is one of the important factors contributing to increasing our operating cash flow in upcoming years. Let me go ahead and give the floor right now to, Kryspin, who will tell us a little bit more about the financial aspects of our strategy for 2025. Thank you, Igor. Ladies and gentlemen, the key question here is how we're gonna finance our new growth strategy. Well, we're gonna do that through our own funds and by improving our credit worthiness, credit capability. As we mentioned previously, we're coming out of the pandemic crisis even stronger. First, we see the outcomes of the work that we've done over the last two years. We've withdrawn, retracted from unprofitable projects, Switzerland, Austria, and providing support to the CCC Group. We've strengthened our presence in e-commerce and improved our gross margins, and this is converted into rebuilding our profitability. Our goal is to have at least 12% EBITDA in 2025. At the same time, we have a good start for HalfPrice, which at the level of the stores is already profitable. Basically, the entire time we've maintained a high level of profitability in eobuwie against the sector. The second thing is we wanna optimize our working capital. As Igor pointed out, we see a lot of potential to release several hundred million PLN as a result of shortening the turnover of inventory in CCC from 270 to 200 days. The third thing that we wanna do, look at is CapEx. These factors will basically have an impact on the cash flow, which we plan to utilize to finance our CapEx related to rolling out HalfPrice format, the technology and logistics and e-commerce. That represents altogether 90% of the planned CapEx. Our spend in eobuwie will be financed with the PLN 500 million that we've obtained from the SoftBank investment. Fourth, we want to utilize the improvement in our credit worthiness to finance the developmental needs through product banking products. Factoring, reverse factoring, guarantees or bonds. We have in mind, you know, green bonds as well as euro bonds. Now let's go ahead and take a look at another very important dimension of our strategy, which is sustainable development. Let me go ahead and give the floor at this time to Marcin to discuss that subject. Thank you very much, Kryspin. Ladies and gentlemen, the sustainable development aspects are very important to us, and we take them into consideration in all of the activities that the group follows. In terms of our ESG strategy, the foundations are product where we have, you know, sustainable collections, and we're making sure that we have the circularity. In terms of environment, we have ambitious plans to reduce emissions in all three Scopes. In terms of employees, they're the heart of our organization, and we're caring about their safety and their satisfaction in terms of the society. This is above all, but through the vendors' code of ethics. What are the detailed goals that we intend to achieve in terms of ESG by 2025? Each one of the product categories in the group will have a sustainable collection. Our customers will have and receive precise information about the composition and methods of production. By at least 40%, we'll reduce our emissions in Scope 1 and 2 and by 10% in Scope 3. We will continue to work on equality and diversity in the workplace, even though, as you heard previously, we have a high ranking in this area. We will demand that all of our suppliers abide by our code of conduct, even though business strategy expands the period up until 2025. With respect to ESG, we've gone one step further, and this is because of our understanding of the expectations of stakeholders but also bigger and bigger groups of investors. What sort of goals do we have for ourselves by 2030? Well, basically, these goals are linked to the goals we have in 2025, but they go farther. In 2030, 50% of the group's top line will come from sustainable products. Our emissions in scope one and two will be reduced by 80%, and in scope three, they'll be reduced by 40%. We will totally eliminate inequality in terms of pay. Let's go ahead and take a look at the last element of the omnichannel platform that CCC Group has, which is culture and people. Let me tell you a little bit about our values, which form the basis, and we're gonna achieve success through two strategic pillars. We have a unique organizational culture, and we have the best and most involved team. We want to create a strong and coherent brand as an employer, developing the group as a place of work where we can release in full the energy, commitment, and positive emotions that our people have. We wanna create a place of work for the best people, and that's why we have talent programs and also to develop the key organizational competencies, leadership and managerial competencies. We will continue to build strong succession plans on the key positions and also having management by objective goals. Basically, our strategic goals are to have a 10% uptick in the indicator in terms of engagement, three times higher in terms of fashion tech in our key competencies, and we want to bump up our NPS score by 10 percentage points. I'd like to thank you very much for your attention. I'll give the floor now to the Supervisory Board Chairman, who will sum up the assumptions of our new strategy and its objective. Thank you very much to our CEO. We've shown our platform, our omni-channel platform, the brands that are part of it, as well as the foundations for our further growth. What sort of priorities will we be guided by in terms of executing our strategy? We wanna continually focus on customers and their needs, developing the omni-channel platform for brands. At the same time, we wanna create high quality, fashionable, and affordable products. At the same time, our decisions and activities will be based on data. Our culture will attract and develop the best talents. We want to follow the ESG criteria in the whole group, and we'll have sophisticated technologies made available to our customers in the organization. This is how, in fact, we want to achieve our strategic targets. The top line of the entire group will be tripled. The EBIT will be above 12%. At least 1/3 of our top line will come from categories other than footwear. More than 60% of our top line will come from the online channel. We'll continue to work on improving customer satisfaction, so our NPS will be bumped up by at least 10 percentage points for our brands. We wanna be the best in ESG. This is something that all fits into our Everything Fashion strategy. These are our goals to be achieved by 2025. The CCC Group is today a totally different organization. It's modern, it's technological, it has a fashionable product. We have a strong management team, effective managers, and we've attracted new talents to the organization. This is how we've been able to put in place the most ambitious goals, and we know how to achieve them. I'd like to thank you very much for your attention, and now I'd invite you to join us for the Q&A session. Welcome. We're gonna go ahead and kick off the Q&A session, and we have the Supervisory Board Chairman, Dariusz Miłek, responding to questions, the CEO, Marcin Czyczerski, and we also have the Vice President, Karol Półtorak, and the CEO of the eobuwie Group, Damian Zapłata. Let's go ahead and look at the first question. You've posed a lot of questions. We have more than 50 questions. The first question is, on one hand, you plan to add 300,000 sq m of space. This is an increase of 44% versus 2021. On the other hand, you anticipate that e-commerce's share will grow to 60% of your top line by 2025. Are these goals not overambitious? It's a closed question. Let me say, no. We've actually done a really strong analysis. The growth of space comes from the new HalfPrice format in two markets, Romania and Russia. E-commerce is MODIVO, eobuwie, and CCC. These are different growth potential areas. Okay, let's go to the next question. Will you not have to have unrealistically high market share if your revenue would actually triple? Once again, quite to the contrary, based on Poland, we can see how much of a market share we can gain across Central and Eastern Europe. The key thing is we have 20% of market share in footwear in 2025, so we're starting from 16%. We believe that the growth is not too big. There's headroom for us to grow. If we look at the addressable market, which is a new market, so we're thinking about the apparel market, and this is where we say we're gonna gain significant position. We're talking about several percentage points in terms of market share. We feel comfortable with these goals. In terms of your strategy, how do you see the role of new investors in eobuwie? Will we learn about the synergies and the particulars of their participation? Well, this is a new investment. This is an investment that will make it possible to finance our dynamic growth, and the capital that's been injected will enable us to fund investments we plan over the next few years. This is access to new technology, new trends from across the world, and this will strengthen our shareholder base. Thank you. When do you plan the IPO of eobuwie? The market environment is not conducive. Perhaps I'll respond. The IPO will take place when the company is ready and the entire eobuwie team is working. We uphold the slot somewhere between 2022 and 2023. Of course, we look at the market. This is not the most important thing in terms of what's happening on the stock exchange with companies comparable to eobuwie. We can say that there's a small number of companies that have such strong growth, top-line growth, coupled with profitability. We feel pretty comfortable in terms of how eobuwie would be treated by the stock market. One of the questions, you've said investments in eobuwie. Do you know what sort of, what sort of, investment, what form this investment would take? Of course. The most sensible thing is for the CEO to inject money into the company, and we made the decision that this is the direction we would go. I can add, as I mentioned previously, I believe this is one of the projects that has the biggest growth potential in the e-commerce sector in our region. That's why my investment here. Let's stick with eobuwie. Your plans to develop logistics, which would bring you closer to Zalando, where the costs to revenue are much higher than what you have at present. Does that mean you're gonna have more pressure on your margins? I think what's the most important is we're not investing in logistics in order to raise the costs. We're investing in order to increase conversion and convince our customers and loyalize our customers. This is a profitable investment above all. This is how we should think about it. If we look at the development of, in our plans, and perhaps the increase in costs will be of 1 or 2%, but these logistics centers are being set up in Central and Eastern Europe, where costs are lower. Let me draw your attention to the fact that our development, our growth model is different from what Zalando offers, which is based on own logistics. Our model is more of a hybrid model, where we'll have our own, and outsourced elements. The next question has been posed in English. I'll try to read it in Polish. Is the production process something that you've automated? Are you close to having mass customization or do you intend to have on-demand products and made-to-measure products? Let me respond, starting from the end of the question. Our fantastic scope of scanning service and being able to select the inside of the shoe and the 3D approach, this is something that's unique and unrivaled, and it's something that can be done on a mass basis. This is a huge advantage held by CCC. We're very proud of that. If we look at the level of automation of production, it varies depending on the product category. If we look at synthetic shoes, it's much more automated. If we look at leather shoes, it's to a much lesser extent. In terms of automation, it's not that advanced, but certainly is highly advanced in terms of logistics. If I could add mass customization in terms of the inserts into shoes, that's a project that we're gonna implement next year, roll out. For individual customers, we're gonna be able to build fit for size shoes in terms of the inserts. Now we have several questions. Basically, we can merge them into one question. There's a lot of interest whether or not you anticipate in the near future the payment of a dividend or a buyback, which is more and more popular of late. We can say, as you can see, the company wants to triple business size. There are very few growth companies of this sort. Every company is thinking about investing in investments. Buyback, no. In the medium term, perhaps a dividend. It depends on the return to the profitability that we have on our path that we showed you. In the medium term, yes, but now we're focusing on development and growth. Do you see any threats in the form of the rising interest rates with respect to upcoming quarters? Does higher inflation give you the ability to transfer higher prices to customers, perhaps to a greater extent than necessary? Paradoxically, is this a positive situation for CCC? Let me say, we actively manage our pricing and promotions policy. We talk about that at our earnings conferences, and we see a lot of potential to build margins. As you can see in terms of our results, the margin is climbing. With respect to inflation, yes, and if we look at costs and the inflation on that side, in our models, we've incorporated that, and this has been put forward in the presentation that you've seen. The results and the ambitions we have already incorporate the price trends that we see today. Again, we feel comfortable because of the highly active promotion and pricing policy we pursue. In terms of, if you look at Ukraine and Russia and the escalation of that conflict, how would that affect CCC's position? To what extent could that translate into an impact on the strategic goals of the company? In terms of Ukraine and Russia, our exposure to this region today, unfortunately, it's not big. We certainly want to increase that exposure. If the situation is stable, increasing our market share to those two markets will take place more quickly. If it's gonna be less stable, the opposite will be the case, it'll be slower. Here we assume that this scenario would be rather positive. What's the opportunity to improve cost discipline in upcoming quarters and years? You can respond to this question that the customer will have cost discipline or it has cost discipline. You have to look at the structure of costs we have today. We can say that variable costs are growing, but that's because our revenue is growing even faster. Also in e-commerce. We're ahead of the marketplace, and costs are growing slower than top line. The cost base is an area, well, like in HalfPrice, in MODIVO, especially HalfPrice. HalfPrice is a wonderful example here in Bukowica. We have the dispatching center for e-commerce. We have the logistics. We have several hundred people hired in logistics. Today, under the test setup of e-commerce for HalfPrice, they've sent out 30 packages. We have revenue for sending out 30 parcels with 100 people. This shows you the relationship between revenue and costs. Here, in terms of these brands, we're comfortable that we're gonna have that type of cost discipline in place for the newer brands. If you look at the weakness of the Polish zloty and other currencies in the region with respect to the USD, US dollar, in terms of your strategy, your growth strategy. The dollar is more problematic than the euro. In here, we have a natural hedge in terms of the revenue and expenditures. In terms of the US dollar, we have an active hedging policy. Some of the streams are hedged with forward contracts. If we look at the rest, well, it does have an impact on us. as I said, we have cost inflation, where we feel comfortable because we're very active in terms of our pricing and promotion policy. Our margins are rising. We're speaking responsibly. There's quite a bit of possibility, headroom for us to work on those margins. Now we have a question about one of your most recent recruitment announcements, and this has generated a lot of interest. You're looking for an employee on the metaverse and crypto currencies and NFT. What sort of hope does the group have for these type of technologies? You can see that we're highly innovative. In terms of the metaverse and the technology referred to in the question, we don't wanna be the people who are just observing. We wanna be a retailer who's actively participating in these things. We wanna be one of the first movers to play a role here, and that's why we're building a team consisting of people who wanna be involved in these type of projects. At the beginning of the year, I think we're gonna be able to show to our customers much more in terms of the digital changes of our product through the mobile application. The digital world is part of CCC's world. Certainly what's happening here, you know, digitally and, so we wanna have that here in our ecosystem. We wanna be able to offer that to our customers. This is something that people need, especially young customers, and we wanna attract them quite actively into our world. It's very important to us, and you can see it based on our strategic. Our fashion tech will be three times bigger. The team is gonna be three times bigger. As Karol said, we don't wanna just be observers. We want to create this world. We wanna drive its growth. Thank you. The next question is about eobuwie. Please give a comment about your future growth plans in terms of the marketplace in the group. This is an important project, a strategic project. I think it will enable us to achieve our growth, ambitious growth. In Q1 of next year, we plan to kick it off, and we'll begin with MODIVO. This is a platform, thanks, where, thanks to the marketplace, we want to build our position in new categories, like in beauty, also in home decor. Today, we see a lot of interest of merchants. More than 100 merchants wanna join us. I'm quite optimistic that we're gonna have quite a bit of success. Another very important thing for eobuwie. In turn, the global brands of our key brands are asking when we begin the marketplace for eobuwie because the long tail offering is an area where the marketplace can actually support and underpin the reach of our customers. We're thinking about this project with respect to eobuwie, and this would be a very strong addition. To have the long tail for global brands as well as local brands, some of our plans are for our marketplace to function not only in a single country, but for it to span other countries where we have a footprint, and we hope this will take place very quickly. We firmly believe that we'll be able to have cross-border sales impact. Thank you. Now I have a question about the current epidemiological situation in the country. If another lockdown is implemented in Poland, could this affect CCC's business results in operation? If so, how? If another lockdown would be phased in, would be another failure in managing the pandemic. I hope it's not gonna happen. Of course, as a company, we have to responsibly prepare for such a scenario event, and we feel that we're well prepared. You can see that in every crisis, we talked about this loudly, that we've come out of every crisis strengthened. We have our scenarios for various events. What's very important to us as a leader in omnichannel business, last week, we set up a new functionality. Today, we're able to switch with a single press of a button all of our stores and put them into our e-commerce world and create, treat them as logistics hubs. This is already producing great results for us, excellent results. We're very pleased. This is a very strong and important link for us. We talked about the HalfPrice format. We have more strengths. E-commerce, so it's 55% of sales in November. The question is, what sort of, you know, digital company is able to handle that kind of situation? If we look at the upcoming period, is CCC planning any additional acquisitions? Perhaps I'll respond. We're focusing on organic growth. The strategy doesn't incorporate any new acquisitions. We're not planning anything specifically. We're thinking about the complementary and the customer journeys, CCC Express and investments in express delivery. If there are any technological companies that show up on the horizon that could actually put our business forward strategically, then maybe think about that. But nothing major in terms of. We're not intending in the near future to buy or acquire or merge with anybody. Okay, thank you very much. You've mentioned and talked about the development of e-commerce in CCC. What are your further plans for further logistics development, especially abroad, especially when you mentioned opening a logistics hub in Bucharest? The company is growing very swiftly, and that's why our logistics have to follow suit. In December, we will have a pilot of sending out parcels from our logistics hub in Bucharest. So we'll be able to shorten delivery times into the Balkans. This is an operational project, and we assume that as of next year, it will serve those markets 100%. We have a specialized center in Zielona Góra, which is a distribution hub for eobuwie. We need some additional capabilities there to serve the business that's growing so strongly. Work is underway on the strategic development of our hub abroad, and we'll be able to share those results with you in the future. Let me add, when we talk about logistics and new centers, we're talking about synergies, reaching customers more quickly. We want to reach customers as quickly as possible for customers to receive those products as quickly as possible. We have, you know, basically shared logistics centers, so for DeeZee, MODIVO, HalfPrice, and CCC. This is something that will be very noticeable. We're not investing in customers and clients in countries where work is much more expensive, and we're automating these warehouses. People who are joining us in logistics, these are people who are highly capable in terms of, you know, structuring those areas. What percentage of sales of your products comes from Poland? What are your forecasts looking forward? Again, you have to look at us as five different brands, and you have to look at brands a little differently. It's different for MODIVO, it's different for DeeZee, it's different for HalfPrice. Today, we can say at this stage in the mix, Poland is the biggest market for eobuwie, more than 30%. We're very strong in Central and Eastern Europe, and now individual brands have their strengths in this area. During the earnings conference, we talked about where eobuwie is strong, where MODIVO is, DeeZee and HalfPrice are strong. If we look at the strategy perspective, most of the growth will be outside of Poland, although we do see a lot of consolidation potential in Poland. As a big player, we become even bigger. You know, it's gonna be more and more difficult for the other big players. Let me add that if we look at footwear, we're an exceptional player, not only in Europe, but probably across the world. Nobody has more than 30% of the market in footwear sales in any market in the world. Our strategy has quite a few reserves, and the major reserve is the sales of our own products. You know, brands that have been... are entrenched in selling and also B2B, selling them through marketplaces. I'm convinced that we can sell our products in the western portion of Europe with a lot of success. Our brands in Greece and Italy are a great example. In some cases, you know, for several weeks, we were the top-selling brand, and we were tracking 600 strong brands. If you look at the price to value relationship, we've generated quite a bit of sales and we attract substantial margins. If you look at the MODIVO development, we can anticipate that it can replicate the success of eobuwie. What are the plans for this brand in terms of its strategy? Well, I would say it has at least the same potential, if not more potential than eobuwie. MODIVO is operating on a bigger market. That market is five times larger. That's why we anticipate that in the midterm perspective, that's gonna be bigger than the eobuwie business. The growth is highly dynamic, and we want to achieve it following by having the best offering, concentrating, having customer-centric, a wonderful platform that converts well with very strong logistics and marketing. This is what we wanna do, and I'm convinced that in this part of Europe, there is a lot of headroom for this type of concept for MODIVO to be developed and grow. It's already a success because the growth we've achieved in recent weeks is above our expectations. This is in terms of building the broader offering we have. We don't want to replicate the success of eobuwie because it's not replicable, 'cause it's the sole platform in this part of Europe where we are a specialist in footwear sales. We want to compete with the best in apparel sales and other accessory sales across Europe and in fact, across the globe. Basically, we're going to be competing with slightly different people. We have a new driver. We have unlimited capabilities, new categories where we can continue to expand them. Based on what we've done in eobuwie, we're convinced that we're gonna be successful here in terms of selling other products. If you'd take a look at these quarters that we started, the figures really underpin this. As scale grows, it's rarely the case that the growth rate continues to increase. We're talking about growth rates of 80%, 90%, 115%. We would have even greater speed of growth or pace of growth if we were to end the quarter today. We have a question about HalfPrice. Will HalfPrice be in e-commerce? Since you have such a strong e-commerce background, why weren't you able to put in place the HalfPrice e-commerce format before middle of November? Well, HalfPrice is a new idea for business. It's good that we have HalfPrice in the group, which on top of MODIVO, will give us a lot of growth in percentage terms. Of course, it's better to get started with a good e-commerce as opposed to poorly developed e-commerce. We're following our plans. We wanted to begin with digital sales. You had to add marketing to that. You have to build scale. All of this is happening, and it's going online with our plans. We mentioned that this would probably be done in November. November is not over yet. The question is, will we be in place prior to the peaks in December? For us, quality is more important than the pace, but work is going well. We're not trying to rush this. We wanna do it well. This is a fresh brand. We continue to build a new category, which we haven't had in the HalfPrice stores yet. Once we're ready with that, then we're gonna be able to broaden our focus, our scope. We're starting in Poland, and then we'll add new markets. Everything has its own time. I would add, it's not the most important whether we stop in November or December. We're following our plan. What's the most important is the upside we have for HalfPrice, 'cause this is a European format. HalfPrice is something that we can penetrate the entire European market. There's a lot of potential here. This is something we've talked about. Now we have a question about sales area, but from a different perspective. Under your strategy, do you intend to optimize the sales area of your brick-and-mortar network? Under the framework of this development of the situation, today we're not certain whether or not retail sales will be limited or not. We see that it has a second life, rejuvenation after these lockdowns. If you think about omni-channel approaches, where you have stores versus e-commerce, it's not 1 + 1 = 2, but we think it's gonna be 2.5, and this is one of the advantages that we have, because nobody who's strong in retail has built such a strong e-commerce position, and nobody as strong in e-commerce has built such a strong brick-and-mortar network. I think we're an example of an entity that you can blend the best of those two worlds. This is where we want to exploit our competitive advantage. We're gonna see how things, the directions will go. You know, lease rates are very low, inexpensive, and thinking about OMS and having stores function as warehouses. It's possible for all of our stores to be profitable. In the first quarter of next year, all of our stores across the entire network would be profitable. As you recall, we don't have stores in Switzerland, Austria, Germany, so that history is something we've put behind us. Okay, thank you very much. What does your sales look like in November? The whole month is almost behind us. I've mentioned a few things, like with MODIVO. Our sales in stores is better than in 2019 on a sq m basis. Sales density, we have slower discounts. We have much higher margins. E-commerce, it lives according to its own life, and it continues to grow strongly, tens and tens of percentage points in the biggest areas. Even though we have a very high base for 2020, MODIVO is writing its own history, its own story, and it's continuing to speed up. We have another month in which the group is more digital than it is brick and mortar. There are several positive signs. We have to remember that a quarter consists of three months, and then we'll have another month in front of us. Let me add, Marcin, that the traffic is lower than in 2019, but the revenue's up. This shows that our collections have been received very. We have two countries, Bulgaria and Romania, where we have lower results, but this is not a big area of our business because of the pandemic really. Romania is a very important market to us and we're gonna continue to develop there. The next question is in the English chat. Do you plan to have an incentive program based on the KPIs in the GO25 programs, so PLN 20 billion of sales and 12% EBITDA? Will the incentive program be based on those goals, KPIs from the GO25 program? To be brief and succinct, yes. The goals we have in the strategy, well, we're cascading them downward in a methodological fashion throughout the organization. The goals we've presented to you today are anchored at every level of the organization, where we should, you know, put those anchors. The incentive system we have will replicate that from top down all the way down to the line employees. So everything is we call it, you know, basically an orchestra. The orchestra has the same goals. The next question from the English language chat. Having such a large number of segments in your portfolio, is that problematic for you? Does it imply, for example, the necessity to incur additional marketing costs for MODIVO and for eobuwie? That's not at all the case. It enables us to reach different customer groups. Basically, these are complementary business models. Of course, we're able to catch some synergies in the back office and the platform and the method in which we purchase media. We're able to catch those synergies, seize those synergies, and we follow the same rules that you have in e-commerce, that our marketing spend has to be profitable. We invest more because we have two brands. That's not the case. We're investing as much as we can to make sure that the investment in our customer pays back, having in mind the customer acquisition. Now, this is the fundamental rule that we follow. Customer acquisition costs have to generate a positive return. We have basically a good model in eobuwie of reaching customers, footwear customers. This is a big portion of the market where customers want to buy shoes on an online platform. You have MODIVO, which is a much broader, a more voluminous platform, but it reaches a different group of customers. Let me add to what the CEO said. We also achieve synergies to a much greater extent in terms of logistics, procurement of products. In eobuwie and in MODIVO, we have the same brands, but we're a specialist and expert in footwear because this has generated success for us. Of course, it's called differently in each country in terms of the logistics of packaging, but I think we've mastered that now. The synergies we have with our vendors are coming down to HalfPrice. We have similar brands, but as you know, the final elements, end runs of products. We look at this from the logistics, purchasing media and joint transport, joint vendors and joint negotiations of prices with our vendors. Let's stick to eobuwie, and you assume that you'll have a temporary decline of profitability over the next two years. To what level will you fall, let's say, in terms of EBITDA? The pickup of the pace that we talked about in top line, it's an investment into logistics and to development of our international presence. We anticipate that the EBITDA level over the next two years would be somewhere between 7%-10%. This is something that's a profitable undertaking, and we'll see that in terms of the results produced in subsequent years, and achieving that scale of business would enable us to win the entire region. This is our strategic priority. At the same time, an important investment is technology, where we wanna continue growing, and we want to have that advantage coming from economies of scale. At this level of profitability, this is something that's unique and attractive business compared to other market benchmarks in terms of fashion. What are the sources of the expected improvement in inventory turnover? The guidance, what we're giving, we're talking about reaching 200 days of inventory turnover. We believe this is a conservative approach, and our ambitions are bigger. We've talked about that for a longer period of time. What's the most important? We've got great teams and tools that we have in place, or we're finishing up in terms of doing forecasting, planning, inventory, planning purchases. We have effects coming on board in 2022 in terms of better rotation turnover figures, selecting product offering, the method of allocation and transfers. Our OMS system will be of great importance, and we've strengthened the supply chain management responsible for supply chain. We wanna be able to have shipments coming into Poland or into Europe from Asia, and we'll have much smaller inventories. This will improve our turnover, inventory turnover. We've written that down into individual notes. We've been working on this project for quite a while, and this is how we're operating. Can you share with us some information about breaking out the EBITDA for 2025 into the various segments? I thought we showed you that during the presentation on the various slides. If we talked about this is gonna be somewhere between 7%-10% in 2020-2022, so 8%-10% in the long term. Let me add, we have the residual income in 2025, which is gonna be much bigger than we had anticipated. At HalfPrice all the numbers that I've mentioned are under IFRS 16, then we're at about 15%-18% in CCC over the 2025 outlook. What I've emphasized, we're saying that this is a conservative assumption. We would like for this to be an even higher number, but we're guiding at 12% as the blended EBITDA. Let's stick to the EBITDA profitability. There was a question about one of the slides that was presented during the presentation in terms of the finance pillar. The improvement to EBITDA that we presented on that slide is the budget replication of your assumptions for 2022 and 2023. The question talks about a profitability of around 10%. I guess this was read from the graph. I'm not sure which slide 53 is, but today we're not. I think you could look at it in the following way. In 2022, 2023, we should strongly improve the profitability in CCC. This should be a year with, or years without a lockdown. All of the outcomes, results of the labor that we've done, we can see it now, but we'll see it without the impediment driven by the COVID-19. We have growing scale through MODIVO. I've already talked about this a few times in terms of what the path is that we'll follow. Thank you very much. Please give some more information about the mix of DeeZee channels in 2025. We don't present the precise mix. We look at DeeZee in a very straightforward fashion. This is a brand. Perhaps it will go beyond 2025, but it should do PLN 1 billion in revenue. This is a brand that has a strong product, a really clearly defined product, where the number of categories can be expanded substantially. We saw that with respect to apparel. This is something that will happen to an even greater extent. This is a product that enjoys a lot of recognition in several geographies, in places where we're not present or on platforms where we have a presence. There are several methods in which for DeeZee to grow. Marketplaces, geographic expansion, product expansion, so enlargement of categories. We're talking about a mix of all these elements. We're not gonna provide the split. We're gradually wrapping up the Q&A session, so we have one of the last opportunities to pose a question. Let's go on to the next question. The most spectacular forecast is the growth of HalfPrice top line. What is the concept, sales density, for this HalfPrice? Well, generally speaking, today we're pleased with how HalfPrice has kicked off its operations. We're gonna be writing that history. Our plans suggest and where we wanna be in 2025, we wanna have sales of in excess of some PLN 850 per sq m. These figures are available in the presentation. We also have e-commerce sales, and we've talked about that delicately. It will get kicked off in a few days. I've already received two parcels from HalfPrice, so this is something that's. I'm a happy user, so it's started to work. We want e-commerce to represent more than 20%, so be prepared. This is an incredible format which is going to write its own story. I think we're gonna be elated with that, pleased with that. The next question is about the financial statements published by the group for the first nine months of the year. What does other financial liabilities of PLN 444 million mean? What's that line item referring to? According to the definitions under the accounting law and international financial reporting standards, these are liabilities with respect to provisions, liabilities with respect to employees and public law liabilities. This is very similar to what we have in the interim financial statements, you know, at the end of June of this year. That's how I would respond or the end of the midyear. Are you working on a green bond framework? When will you publish information about that? Kryspin talked about that today. We have two things. First, there's interest among the market in terms of green bonds at CCC, and the other thing, the subject matter. CCC, as you can see, treats this as a very important strategic objective, but we're far along the path in terms of our ratings and awards we've received, but in terms of having a closed economy and low emissions or zero emissions. We're at the early stage, conceptual stage of working on that. This is an area to which, you know, CCC is open. How are you thinking about what's happening in China in terms of video live shopping? Even though this trend isn't visible in Poland, do you plan to follow some plans in terms of, you know, pumping up the sales here? Once again, going back to recent past, we were one of the first retailers in Poland to start testing in terms of live shopping. Even today, we can invite you to join us on Instagram at 6:00 P.M., and you'll be able to see one of the sessions we're organizing at present for our customers. Next year, you'll be able to see much more, you'll be able to see much more live shopping under the CCC brand. Looking at the mobile application, among others, because our application, let me remind you, up until 2 million people monthly, on a monthly basis, comes through that. So, you know, lots of people every single day. We wanna give them the opportunity to do live shopping. We're gonna see what the take-up will be in Poland. Certainly we wanna be active in this area. Let me add, Karol talks about this modestly. He came in from China. He said, "Let's do this quickly because this is what the future is gonna look like." We did live shopping two years ago. Once we saw the numbers, it's not something that we have in front of us. It's something that we do, and we've been doing for a longer period of time. Those are all of the questions that you've asked. We'd like to thank you very cordially and for all the questions that you've posed, for being with us. I'd like to thank our speakers. Thank you very much. Once again, thank you very much. Bye-bye, and we look forward to seeing you at the next upcoming conferences with the CCC Group.