Welcome to the Arjo Q3 presentation for 2024. During the questions and answer session, participants are able to ask questions by dialing pound key five on their telephone keypad. Now, I will hand the conference over to CEO Joakim Lindoff and CFO Niclas Sjöswärd. Please go ahead. Thank you very much, and also from our side, welcome to Arjo's Q3 2024 earnings call, where Niclas and myself look forward to give you some details on the Q3 report. Next slide, please. We'll start with a business update from Q3, a financial update, and our outlook for 2024 before we open up for questions, and as always, we intend to keep this call to an hour and be ready by 9:00 A.M. Next slide, please. At the time for the Q2 report, we talked about a slightly unsure situation for capital sales in Europe due to political uncertainty in some of our major markets. This uncertainty has resulted in lower than expected capital sales in Europe in the quarter. In addition, we saw some unexpected shortfalls in China and Japan, also on capital side in the quarter, and in total, we therefore report only a 1.5% organic growth in the quarter, which is around two to two and a half percentage points lower than our expectations that we had when we spoke last time in the beginning of Q3. On the positive side, we have a solid order intake on capital and also a good development of our service and rental business, which gives us stability for the coming quarters. But with low visibility into European market for capital, we currently see that we will have to navigate these circumstances for quite some quarters to come. Our gross margin came in at 42%, an improvement versus Q3 of 2023, despite the current headwinds. The lower capital sales down approximately 40 million SEK in comparable currencies and more in volume versus last year is generating a negative mix effect and lower utilization in our factories. And this is a trend that we will continue to see as long as our capital sales remains on the weaker side. In addition, we had significant negative transaction effect from currency, and altogether, these effects are the main headwinds on gross margin for the quarter. Our current activities around price adjustments, internal efficiency, and product mix continues to generate results and are compensating the higher cost levels driven by mainly salaries. We see a risk for continued weaker capital market in Europe over the coming quarters, and we will therefore need to accelerate our efficiency activities, both in cost of goods sold and OpEx, to safeguard our profitability development. On OpEx in the quarter, I think it's fair to say that we have continued to have good cost control throughout the organization, and OpEx, as a% of net sales, is so far stable versus last year, despite the high inflationary salary increases and lower than expected net sales development. Adjusted EBITDA decreased to SEK 434 million in the quarter. Adjusted EBIT decreased to SEK 164 million versus 186 in Q3 of 2023, impacted by the lower capital sales and significant negative currency effect, totaling to a negative delta of minus 34 million versus last year. Operationally, we are trending better on EBIT, but the lower than expected capital sales could not compensate for the significant drop in currency this time. Our operational cash flow for Q3 was SEK 437 million, leading to a cash conversion of 102% for the quarter, and we are well aligned with our target for the full year of at least 80%. Niclas will take you through further details in his part. I'm also happy to inform you that Maria Fagerberg will join us as new EVP for QRC, latest on the seventh of January of 2025, and we have a solid interim set up in place until she joins. Maria comes with extensive QRC background within MedTech and will, with her track record, be a very good addition to our leadership team. I'm also very pleased to announce that Jonas Cederhagen has decided to stay with Arjo in his role as EVP for Supply Chain and Operations, a decision that creates continued stability in our work to optimize our supply chain and operations efforts throughout the group. In summary, Q3 was a quarter where we, despite a lower trend on capital sales in Europe and some countries in Rest of the World, managed to grow the group with 1.5% organically. Our business in Canada continues to grow. U.S. starts to show signs of recovery in capital sales, and our rental and service business develops very well globally. The end of the quarter saw better development on both order intake and capital sales than July and August, but there is headwind and lower visibility for capital sales in especially Europe for the coming quarters, and we will make sure that we navigate this situation well going forward. Next slide, please. North America grew with 2.4% organically in the quarter and is now up 4.9% on organic net sales after the first three quarters. Canada had a good quarter with rental, service, and capital all developing according to plan. We continue to grow our market presence in Canada, and I foresee that Canada will continue to be a very important market for us also over the coming years, both driven by needed investments into the Canadian health system and obviously good internal work.... The positive trend in the U.S. continues. Healthcare providers are step-by-step strengthening their financials, and with that comes also a gradual improvement of capital investments. As previously mentioned, the nature of our business does not put us first in line for these investments, that in the first phase goes more towards processes in the operating room, but we are now starting to see a better momentum towards our projects and solutions. DVT continues to be a drag on organic growth based on the previously signaled price pressure and loss of customers because of that. We have seen this development in Q1 and Q2 as well, and only in Q3, we have lost approximately $2 million, and expect that to be the case also in Q4 and in Q1 of 2025. Meanwhile, for the most parts of twenty twenty-five, we expect this trend to have bottomed out, and are foreseeing a return to growth in this area from Q2 of twenty twenty-five and onwards, as before. Our service and rental business in the U.S. continues on a positive momentum, and especially in rental, we foresee this trend to continue as we have now secured additional customer implementations. It is also good to see that our transactional patient handling sales develops well, with one of the drivers being our air-assisted business, where the acquisition of AirPal, the product range from AirPal, develops above plan. The development of transactional sales is especially good in acute care, where both long-term care and governmental sales yet have to pick up to get to the expected levels. Even though the quarter, as expected, was low in regards to outcome programs, we are now in a realistic way looking at a Q4, where we believe that we will return to needed pace in this area. My previous mentioning around further stability in the financial situation of healthcare in the U.S. is the main driver, and we expect this to develop step by step also for the coming quarters. Overall, a solid quarter in North America, with potential, especially in the U.S., to develop the organic net sales in the quarters to come. Next slide, please. Moving over to our global sales region, where the net sales declined somewhat versus last year's Q3. Western Europe was down with 0.5% in the quarter on organic net sales. We continue to have good clinical demand for our products and solutions, but decision-making has been significantly more volatile in countries like France, Netherlands, and the UK, leading to lower capital volumes. We continue to have a good development of both service and rental, which is performing slightly better than forecast in this area. We have talked about the uncertainties around capital spend levels in European healthcare in previous telcos, and for Q3, that has been clearly visible. Our pipeline is good and growing. We do not see loss of market shares in any of our main markets, but we continue to see postponement and delays of capital spend decisions. Based on our current information standpoint, this is something that we believe that we will have to continue to navigate for some quarters to come. It is still encouraging to see the long-term commitment from both UK and France to invest into solving the large-scale problems facing healthcare around demographic change and the need for more efficient care of patients. But it is clear that financial deficits will be a headwind for us to navigate in the short term. Also, countries like Germany, the restructuring of healthcare will give some short-term bumps in the road, but we feel positive around the possibilities moving forward on a market where we are already well established. Our diagnostics business grew versus low comparables in the quarter. Also, in this area, given the dependency on especially UK, we are lower than forecast and expect this to continue throughout Q4. We do expect to see a quite okay growth in this area going forward, but again, from a low base from 2023, and we still have work to be done to get net sales to where we expect it to be, given our product and overall offering standing. As a summary for Western Europe, continued good momentum in rental and service, a pipeline that continues to grow, but lower visibility on capital spend. The latter part of the quarter was better than July and August, but we will remain very focused when navigating this environment in the quarters to come. Next slide, please. Moving over to rest of the world then, where Q3 saw organic growth of 2.5%. Australia, India, and South Africa, three important markets in this region, continued to see positive momentum and growth with capital, service, and rental growing. Our business in Singapore was lower than last year due to some large projects in Q3 of 2023, but it is developing well aligned with plans overall. The big disappointment in the quarter in Rest of the World was China, where we, in Q3 last year, saw some good capital projects, but where we have experienced an almost dried up capital projects market this year in Q3. Based on information stand as of today, we believe that these low activity levels will continue for some time in China, and we will have to adapt to this significantly lower capital spend environment from an internal perspective. Japan also saw a decline versus last year, but this is, in our view, mainly due to a delay in our shift of business model, and we feel comfortable that we will be on growth track in Japan in the quarters to come. The significant EU funding to Poland, with large amounts being allocated to the refurbishment of health, to the healthcare sector, has been slightly delayed versus expectations by the end of Q2. This has caused what we define as a tsunami effect, where very few capital investments have been made in Q3 in anticipation of the investment funds, but where we are expecting a significant inflow of projects in Q4, that will have a main effect in 2025 and 2026. We are well positioned to gain good market shares of these products, which obviously is very good for the long term. Next slide, please. The improvement journey on profitability continues, and gross margin improved to 42% for the quarter versus 41.4% in Q3 of 2023. An improvement, yet lower than forecast after end of Q2, mainly due to lower capital volumes affecting both mix and supply chain utilization, but also significant impact from negative transaction currency effects. As in previous quarters, we have higher salary costs in supply chain, rental, and service, which we have mitigated through continued work with internal efficiency and continued focus on price alignment, something that we expect will continue also in the coming quarters, and as discussed also in the Q2 telco, our forecast is that we will see price adding between 1% to 1.5% growth on top line for the full year, and we are currently trending at around 1% after Q3. Given the low visibility on capital spend in Europe, this is obviously significant fine-tuning going on into this area. From a category perspective, we have continued to perform well on patient handling across, on the patient handling gross margin, and with additional traction in this category, we expect to see a continued improvement of our product mix over time. Service sees slightly weaker margins in Q3 versus Q3 of 2023, but this is almost only due to negative currency effects. And we also continue to improve our gross margin in rental, despite the high pressure on salary cost. Transportation came in higher than expected versus last year. The continued pressure from the situation in the Middle East and harbor strikes in the U.S. will continue to be a smaller negative in our comparisons, also into Q4, both versus forecast and last year. We expect to see negative effects from the lower capital sales also in Q4. On top of already committed efficiency projects in supply chain and continued work with pricing, we will accelerate efficiency programs further to be able to navigate a shorter, lower short-term capital development. Extensive work is ongoing to further detail these activities, and we are confident that we will have solid plans in place effective beginning of 2025. Next slide, please. OpEx continues to be well managed within the group, and we are seeing an increase of 2.3% or SEK 23 million in comparable currencies, despite significant salary inflation on these lines. OpEx, as a percentage to net sales, grew slightly in the quarter, on par for full year, mainly due to the lower than expected capital net sales development. We continue to drive initiatives for profitable sales development as before, but will actively review structures in OpEx, where we are experiencing lower demand than planned. R&D gross investment is trending at almost 3% for the quarter, which is, as before, aligned with our product development plans. As stated also after Q2, we are planning for larger launches in hygiene in the end of this year and interesting launches in pressure injury prevention and patient handling in the beginning of 2025. The main factors impacting adjusted EBIT this quarter are total negative currency effects and reevaluation of our accounts receivables and accounts payable of -SEK 34 million, and obviously the lower than expected capital sales. We obviously also saw the same factors impacting adjusted EBITDA. The structuring came in slightly lower than expected in the quarter, and we are still trending towards the indicated approximately SEK 45 million for the full year. Next slide, please, and here I would like to hand over to Niclas. Thank you, Joakim, and good morning from my side as well. The operational cash flow improves sequentially in quarter three versus quarter two, but is down versus quarter three last year, due to difficult comparison with the strong release from higher than normal inventory last year, which is not repeated this year based on the more balanced inventory levels. Working capital improved in the quarter, coming from good work with all parts, including inventory, accounts receivable, and accounts payable. Our long-term improvement activities regarding working capital is continuing to pay off, and this focus will, of course, continue. Working capital days sees a significant improvement year over year in the quarter, down to 78 days, compared to quarter three last year, with 86 days. It's also sequentially down from quarter two, which had 79 days. The improved working capital gives a stable operating cash flow of SEK 437 million, sequentially up from quarter two, which was SEK 344 million. The operating cash flow for quarter three last year was SEK 565 million, mainly driven by the strong release of higher than normal inventory levels I mentioned before. Cash conversion improved sequentially to 102%, versus the 70% in quarter two. We are well on track towards our target of 80% cash conversion for the full year. And for your information, cash flow from investing activities was -SEK 190 million, versus -SEK 134 million in quarter three last year. Mainly containing investments in our rental fleet, product development, and fixed assets, but also now in quarter three, the payment of the Geromed acquisition. Next slide, please. Our net debt is down year over year from SEK 4.7 billion in quarter three last year to SEK 4.4 billion in this quarter. Sequentially, the SEK 4.4 billion net debt is also down versus the SEK 4.5 billion in quarter two. Our financial net, as well as our interest net, has decreased compared to the same period last year, and it's mainly connected to our lower funding and lower interest rates. We expect our reduction journey on net debt to continue in the coming quarters, and together with lower interest rates during the rest of 2024, we see now decreased financial cost during the year. Our cash position remains strong. Our leverage, net debt to adjusted EBITDA, improved year over year and came in at 2.2 in this quarter, versus the 2.6 in Q3 last year. This is a consequence of the last year activities regarding improved profitability, our working capital focus, and cash flow. Sequentially, the leverage is also down versus the 2.4 in Q2. And for your information, 2.2 is the lowest leverage since spin-off. Equity ratio came in at 50.2%, which is a small increase from the 50.1% last quarter. Then I hand back over to you, Joakim. Next slide, please. Thank you, Niclas. As you know, we made two smaller acquisitions in the quarter. Geromed in Germany is a good example of what we look for, in the first of our three M&A buckets when it comes to strengthening our footprint in rental and service. Techmed, as a clear market expansion possibility for our diagnostics business, also fits well into both overall strategy and M&A focus. These two small acquisitions will generate smaller positive effects, to Arjo from twenty twenty-five, and again, are good examples of targets that we're in contact with. Next slide, please. Shortly to our outlook for twenty twenty-four, where we, based on the information that we have today, still forecast to be within our target interval of 3-5%, of organic net sales, despite the slowdown in capital sales, mainly in Europe. Next slide, please. With that, I would then like to summarize today's telco. We closed Q3 with a 1.5% organic growth, which is lower than expectations due to the lower capital sales in some European markets and also a few of the rest of the world markets. The low visibility on decision-making around capital sales, especially in Europe, is estimated to continue for some time, and we will have to continue to navigate the situation in a good and focused way. We continue our improvement journey on gross margin, despite headwinds from lower capital sales and negative currency effects, and we continue to manage our OpEx in a good way. Apart from the lower capital sales, currency is also affecting EBIT with approximately a negative minus SEK 34 million versus Q3 of 2023. Our profitability journey, excluding currency, continues, but we obviously have to adapt cost structures for all effects going forward. We continue to do a solid work around our cash flow, and as a result of that and other activities, we register at 2.2 as leverage, which, as Niclas said, is the lowest level for Arjo in the spin-off. We now enter into Q4 with a continued high activity level, where we will need to navigate a lower visibility around capital sales. We still estimate that we can reach our outlook for 3-5% organic growth for the full year. And finally, I would like to let you know and inform you about that we will host a capital markets update in Stockholm in conjunction with the release of our Q4 report on the thirtieth of January, 2025. More information will follow on this as we get closer. With that, we can open up for questions, moderator. If you wish to ask a question, please dial pound key five on your telephone keypad to enter the queue. If you wish to withdraw your question, please dial pound key six on your telephone keypad. The next question comes from David Johansson from Nordea Markets. Please go ahead. Hi, good morning. Thank you for taking my questions. I want to focus on Western Europe a bit. I think, you know, listening to your comments around weakness in capital goods here in the beginning of the quarter, but perhaps ending here on a higher note, do you anticipate more of a bounce back now for Q4, or should we expect these markets to remain on a lower level? Then, more on this capital goods weakness you're experiencing. I mean, your comment on the political situation having an impact, but it also sounds like you're expecting almost a structural weakness here for some time. Is this something that you're seeing, or is this more, maybe related to the markets alluded to previously with France and the UK? Thank you. Well, thanks, David. We are not foreseeing a bounce back on capital sales in Q4, not based on the information we have today. We believe that we will have to navigate a lower visibility and a lower decision-making speed in Western Europe and some of the rest of the world markets also in Q4, and some quarters to come, as I said in my presentation. It is difficult to know when, so to say, the spend level will be back on the levels that we have expected. Again, as I said, the interest to invest is there, it's just the allocation of funds from state budgets that needs to come. I can't judge how long this will take, but it's obviously something that we continue to navigate. As I said, we are not losing market shares, rather the opposites. We are well-positioned in these countries. On top of that, we continue then also to see a good development of our rental business and our service business to continue, both in Western Europe and also in other parts of the world. The political environment, I mean, I believe that it's fairly clear what is happening in the UK. We are expecting a budget proposal to come out here in the end of this month, where we are not foreseeing anything else than an intention of continuing to invest into NHS in the UK, which will be positive for us long term. But then there's obviously a question of getting that, those funds from the paper to the actual investment side, and it's difficult to say how long that will take. In France, still forming a government, and to get a clear picture about the financial environment in France will probably take a few weeks or months more. And until then, we are expecting a low visibility on when to get capital sales going again in France in the way that we want. We are selling capital in France, but we want to be on a higher level, always. Netherlands has the same type of issue. When it comes to... Yeah, I'll stop there, David, and see if there's any additional questions. Yeah, yeah. Thank you for that. Then, you know, perhaps on the gross margin then, with this, you know, lower utilization, you know, that you're, you know, expecting, and with the visibility you have now on the product mix, do you still think that you're able to drive the improvements that you're expecting on the gross margin, I think, for Q4? I think you're, you know, ended Q4 very strongly here, looking back a year. So do you expect to see improvements then, you know, exiting the year? If you take all factors into consideration, both the fact that we have most probably negative transaction effects coming into to the gross margin side, also in Q4, we have significantly lower capital volumes and value in Q4 of this year than we had last year, which has a negative product mix, and the fact that it takes some time to adjust our cost base in supply chain. I believe that we will see sequential improvement, obviously, from Q2 into Q4, but it will not be improvements on the gross margin versus where we were last year in Q4. Okay, then. Then just one last one from me. I think on the cost initiatives that you're taking, are you able to quantify the expected cost takeouts from these actions or... And do you expect this to have an effect earlier by this year, or will this be more tilted towards twenty twenty-five? Thank you. As I said, I mean, what we are doing is that we are continuing. We already had a fairly nice amount of activities ongoing on cost continuous improvement, both on our OpEx and also on our supply chain. But obviously, given the situation in the markets where we are seeing a downturn on capital sales, we will need to do adjustment also on the OpEx side and in other areas. I would not be able to quantify the amount right now, but I am very much expecting that we will see our OpEx to net sales to have a steeper downwards trend than what we thought in the beginning. But the effects will only come from twenty twenty-five and onwards, as it takes time to do these changes. Okay, thank you. Those are my questions. The next question comes from Mattias Vadsten from SEB. Please go ahead. Hello, and good morning. Thanks. Take my questions. I have two. So the first one, I guess, that would be on sales ahead as well. I mean, rental, I think is solid and service as well, but for how long do you think you can sustain the strength in service without really improving momentum in capital sales? So I guess the question is relating to service in that respect. Yeah. Because I guess that will come down if capital sales doesn't improve. Yeah, it's a good question, but good for us is that I don't think that the effects will be negative. If you look over ten years, most probably, Matthias, but not in the short or midterm when it comes to service. We still have a significant amount of under-penetration when it comes to our service, when it comes to our current installed base, and we have a lot of work to be done on the service side. When countries are not spending on capital, we, as we have been discussing before, you have a reversed effect where they need to service their equipment more. If we have a lower visibility on capital in the coming quarters, we will continue to see a good development of our service business also in 2025 and 2026, which we will do anyway. I have good hopes that, based on what I see today, that service will continue to grow also. Rather the opposite, with the decline of capital sales, we'll probably see service grow slightly quicker. Rental, as you say, stable growth, and our biggest rental market being the U.S. has, as I said during the teleconference, secured further implementations, and we are foreseeing good growth in rental also in 2025, very much driven by the U.S. market. That's all clear. Sorry for the noise around me. The next question is on the comments on better capital trends in the U.S. Should we read this as supportive for Q4, or is it mainly comments that will support sort of the trends that you see in 2025 in terms of sales volumes? That's the next one. We will have good growth. As far as the information we have today, we will have good growth in the US in Q4. We are trending well on transactional sales, especially in patient handling. We are securing more or less the first outcome programs in patient handling going into Q4. Service is developing well, rental is developing well, so growth in the US is also for Q4. Obviously then also going into 2025, which is really good to see. With the new management in place, with the changes that we have made, I believe that we have a good momentum also organizational-wise in the US. No red flags currently. We can always be better, and we need to be better in the U.S., and we're gonna continue to work very hard on improving from that position. But, there are positive signs in the U.S. right now. Thank you very much. The next question comes from Kristofer Liljeberg, from Carnegie Investment Bank. Please go ahead. A few follow-ups here on the previous questions. First, I wonder, how much visibility do you think you have to grow at least 3% in Q4, which you would need to, to reach at least the lower end of the financial target? If I may say so, enough visibility, Christopher. I think we are, as we always do, we have very tight follow-ups with countries in a situation like this. We have obviously even more tight follow-ups with those countries to make sure that we understand the development and that we can take the right mitigating actions or ask for the right mitigating actions. I believe that we are as well informed as we can be. We have good traction on service, we have good traction on rental, we have a U.S. market that is continuing to develop favorably. Where we have weakness is on capital sales in Europe and some of our rest of the world markets, and there, we believe that we have captured the possible downsides, and it's about now making sure that the product that we have tangible in our pipeline, to get them over the line for year-end, but yes, I do believe that we have enough information to say that we're comfortable to have a Q4 that is within the 3%-5% interval. That helps us to get within the interval of 3%-5% for the full year. And then I just wonder what has happened here in the last, since last time you reported, because then you sounded quite confident that the weakness in Europe was only temporary. You talked about the elections in UK and France, and now it seems, listening to what you're saying, it seems more structural than before. Structural, I'm not really sure, because I do still believe that there is a huge investment need in many of those European markets that we spoke about. So, and that will not go away and cannot be solved in other ways. So I don't think that we have a structural problem. What we do have is a budgetary problem in these major European countries. What has happened since we spoke after the Q2 report is clearly a continued weakness that we did not anticipate when moving into Q3 around capital sales. To give some light on that, but when we were sitting after Q2 versus where we are now after Q3, we have approximately SEK 100 million less in capital sales than what we thought at that time. And those are spread out from France-... Netherlands, UK, but also a Chinese business that last year actually saw some really good projects, and this year, more or less nothing. We also thought that the EU money in Poland would give us a possibility to grow already in Q3, which has not been the case, and there we know that money will come in and help us growth-wise from Q4 and onwards, but it is, I would say, a misinterpretation, if you could put it like that, of how the capital market would develop. Service and rental is developing better than what we expected. But that means if I compare with what you said after the second quarter, obviously, you have a much more cautious view on capital sales here for Q4. That is correct. That is correct. Oh, okay. Thanks. And then, your previous comment on the gross margin not improving year-over-year, should we even expect the gross margin to be lower Q4 this year compared with Q4 last year? I believe so, yes. Given the- I believe so, given the product mix with less capital and the headwinds of currency, I would estimate that, yes. Okay. And then for the full year, does this mean a more flattish gross margin for the full year, or do you still expect to be able to improve it for the full year? Again, we don't necessarily guide on that one, but given a lower development in Q4, I believe that an assumption that we will be, yeah, just slightly better than last year is probably a good one. Okay. Great. And then my final question, on the financial net here with lower interest rates going forward, could you give some sort of indication where you expect that to be in Q4 and maybe run rate when you move into 2025? Thank you. Yeah. Almost what we see is that we will see the lower average interest rates coming in now to our funding. Some of that is visible already in quarter three, but we will see more of that coming in in quarter four. So from a sequential perspective, we should see lower interest net and finance net in quarter four. I think I will stop saying that. Of course, we believe also that next year that will continue, but it's of course dependent on the market pricing of interest rates. But we have peaked on our interest rates as we see it, for sure. Okay. Thank you. The next question comes from Sten Gustafsson, from ABG Sundal Collier. Please go ahead. Yes, good morning. A question on coming back to the capital goods sales here in Europe. Could you remind me how much of total sales typically would be related to capital goods in Western Europe? Sten, I was about to say that that's something you can read in the quarterly report, because I don't have the exact number myself. For the group, in total, it's around 40% of our turnover that is capital goods. The rest is coming from consumables, service, and also our rental business. But yeah, I know we can see the total there, but for Western Europe, is that more or sort of on average with the global average, or? I would probably say that it's slightly less than the global average because we have a bigger service business, we have a bigger rental business than if you take in, you know, if you take Rest of the World. But on the other hand, you have kind of the same mix in the U.S. and kind of the same mix in Canada. So I would say, without knowing exactly, it's around the group average, Sten. Okay. And how much do you need in order to reach the full year guidance here of 3%-5%? What we need to do for the full year guidance is obviously to execute on the realistic pipeline that we have for Q4, both in terms of our book to build, service and rental, and in and out business that we have for capital. As I said, in my view, we do have enough visibility to say that from the current standpoint, that Q4 will have a growth within the interval of 3%-5%, probably more in the lower range of that one, which will then take us and keep us within the interval of 3%-5% for the full year. Okay. Secondly, you talk about our new Insight and perhaps you can share with us what you know, what kind of potential do you see on that one? And when will that start to materialize really into your numbers? Yeah, it is, our new Insight is already materializing into our patient handling numbers, and that is why we continue one of the reasons why we continue to see patient handling becoming more and more important for us, which is obviously going to be good also from a product mix perspective. You should see the Insight project as kind of a middle step in our journey from transactional sales to really pure outcome programs, where we believe that with insight, we help the customer to realize value, but not necessarily implementing a full outcome program, which is also helping out in transactional sales in countries where we are significantly more tender driven. So if you, if you look at the zero being transactional sales and one being the outcome, the insight program helps us to maneuver together with the customer along that line to create value. So it is a way of helping the customer to understand what type of needs that they have, how they best over time exchange and replace, and add new products to that, and how they, in a more efficient way, should work with those products. So it's a step on the way to a full-blown outcome program, something that we very much believe will help a lot of the markets going forward. We are currently implementing in European markets, and we are looking forward to implement our Insight in the US in the beginning of the year. Our Insight is one of the reasons why we have such good growth on, or in Canada, as an example, on patient handling. So it's there, and I believe it will be a key tool for us going forward to make sure that we have continued good growth on our, especially on our patient handling side, going forward. Okay, thank you. I'll get back to the line. The next question comes from Rickard Anderkrans from Handelsbanken. Please go ahead. Good morning, and thank you for taking my questions. Could you elaborate a little bit more on the further cost reduction initiatives, sort of magnitude of the impact and timing, and maybe a bit more on where you're looking to take out costs a bit more specifically? Thank you. I'll start there. Yep. If I start with the final part of your question, we are going for OpEx, obviously, when it relates to the areas where we are seeing lower capital sales, and where we believe that we need to make adjustments in our structure to better suit the capital levels that we have. We always are cautious to make sure that we are not cutting where we believe that we have an opportunity and possibility to have a change of trend in the short term. As I said earlier on, we can't quantify right now on the exact, but what we do know is that the activities that we are going to drive is going to help our cost of goods sold, and it's also going to help our OpEx trend versus net sales, so it will be a possibility for us also, or give us the possibility also with lower capital volumes, to make sure that we set ourselves up for increased profitability in twenty twenty-five and onwards. If we're now looking at a 2024 with more moderate improvements than what we thought in the beginning, I believe that we will, based on these activities, be back on a better improvement on profitability from 2025 and onwards, both from a COGS perspective, but also from an OpEx perspective. All right, very clear. And then follow up, how is the progress going with the new product launches in, you know, Q4 and into next year and into 2026? And how does the new rollout and the acceleration of new products sort of align with cost cutting? It sounds like, you know, two different forces, I guess, in terms of accelerating the new launches there. Maybe you can elaborate a little bit. Yeah, we are not touching our R&D and product launches part. That is something that is now tracking well after both the external and new internal structures that we have. So our intention is not to touch that part. We believe that we will have a good structure on that part going forward. We're looking forward to the launch that is in a very active phase around new hygiene solutions and new bathing solutions, and we're looking forward to launch new products in patient handling and pressure injury prevention in the beginning of next year. Currently, all on the plans that we had from, let's say, you know, beginning of Q2 of this year. That is running well, so we are not cutting there, and I don't think that we should be. We are obviously always looking into doing things more efficiently, but here is about making sure that we have enough resources to continue to drive a positive portfolio updating. Very clear, and just a quick final one. Was it correct that there was roughly one percentage point tailwind from price on top line in the quarter? We are currently year to date. We're trending at around one percentage point on organic growth from price. Okay. Thank you for taking my questions. There are no more questions at this time, so I hand the conference back to the speakers for any closing comments. Thank you, and thanks for joining in on this Q3 earnings call. A quarter with 1.5% organic growth, headwinds obviously being capital sales in mainly Europe, but also some of the countries in rest of the world. Good continued development of our service business, good continued development of our rental business, and the North American market that continues to see traction in the right direction so we are heading into Q4 with high activity, and are going to do everything we can to continue to grow the group in a profitable way going forward. Thank you.