“We are well covered for oil and packaging costs for the remainder of the year. And quite frankly, also into 2027, but some regulated market do not allow us to do anything in terms of protecting ourselves, and that's the cost headwind that will materialize in the remainder of the year”

In context

“nd that's a quite profitable business. And so there was a little bit of additional leverage coming into the P&L. The supply chain folks are doing quite an amazing job between procurement and manufacturing. We are delivering year-on-year benefits to the P&L. So whether it was the usual high-performance supply chains of Latin America and EMEA, we added quite a bit of upside even in places like North America this quarter. So all in all, I think between the volume mix, us pricing in line with expectations, costs coming a little bit better due to productivity. I mean all of that resulted in the upside. Now that upside would have resulted in a benefit to the year, quite frankly. But at this point in time, as I said, there is a little bit of cost headwind coming out of the Middle East situation. We are well covered for oil and packaging costs for the remainder of the year. And quite frankly, also into 2027, but some regulated market do not allow us to do anything in terms of protecting ourselves, and that's the cost headwind that will materialize in the remainder of the year, for which we have to account and that's where we decided to guide for clear EPS in line with what we said the last time. We have also unlocked additional investments in a couple of places. As we look around, we see that there are things that work extremely well that are gaining momentum, and we still believe there is upside in there. So that's where we decided to invest more in A&C and other things. Operator: We'll now move on to Michael Lavery with Piper Sandler. Michael Lavery: Could you just maybe elaborate a little bit on your innovation strategy? And it seems like now with COVID in the rearview and the supply disruptions that kind of changed some of the thinking of that for a few years, it's a focus again. Can you maybe point to where you've got a particular focus or maybe key consu”