“I think as you look at the Q1 revenue pacing, we are going to have a revenue maybe number that is a little bit below the full year algo.”

In context

“he brands. And so we feel good about that. Remember finally that through the integration of Ricolino, there will be synergies coming to fruition. We are literally going live with SAP in few days and hopefully that will unlock both revenue and cost synergies for 2024. Ken Goldman: Thank you. And then quick follow up. You mentioned disruption a little bit more in 1Q this year, with the understanding it's quite early, is there any way we can get a little bit more of a quantitative sense just to how to think about some of the impact potentially on the top and bottom line in the quarter? I realize, like I said, it's impossible to kind of completely forecast it at the time, but just any kind of magnitude at this point would be helpful as we think about our models, perhaps. Luca Zaramella: Look, I think as you look at the Q1 revenue pacing, we are going to have a revenue maybe number that is a little bit below the full year algo. I think you're going to be hopefully happy with the numbers you see across three regions out of the four. Europe is going to be more impacted in relative terms versus the impact that we have already in the base in '23 in Q2, and most likely volume mix, excluding the customer disruption is going to be a nice number and positive. I believe total volume mix might be tilted to slightly negative because of the disruption, but I can't go any further than that. We are in the middle of negotiations and conversations with retailers, and we have planned, we have a sense of what might happen, but time will tell exactly how we will land pricing in Europe. Ken Goldman: Understood. Thank you. Luca Zaramella: Thank you, Ken. Operator: Our next question comes from Bryan Spillane, Bank of America. Bryan S”