“I don’t expect our fiscal year numbers to be different than that, but they will look different obviously H1 versus H2 because of base period, but the general model is still the same as we executed over the last 19 years.”

In context

“on led and some pricing also led by innovation. Thank you. Andre Schulten: Hey Andrea. Yes, I mean, pricing and mix have been a positive contribution to our results for 19 years. I don’t expect this year to be different. I think it will be pricing for foreign exchange headwinds in some of the enterprise markets, which is in line with what the market generally executes. I also expect innovation base pricing and trade-up as we have a strong innovation pipeline in the year. From a promotion environment, we see stability at the moment. We have pockets of incremental promotion. We’re still operating at about 85% versus pre-COVID levels, and we see general stability, so as I said in the guidance deconstruction on the top line, roughly we see the market half price mix driven, half volume driven. I don’t expect our fiscal year numbers to be different than that, but they will look different obviously H1 versus H2 because of base period, but the general model is still the same as we executed over the last 19 years. Operator: The next question comes from Filippo Falorni of Citi. Please go ahead. Filippo Falorni: Hi, good morning everyone. I wanted to ask about the commodity outlook. Andre, you mentioned $300 million in headwind expected in fiscal ’25. Can you maybe talk about the components of the headwind, some of the key commodities including pulp, resins, and also on the transportation side, given the recent rise in ocean freight, any potential impact there? Then in terms of--I know some of the commodities, you cannot hedge, but just the level of visibility given your contracted rates on that headwind, thank you. Andre Schulten: Yes, hey Filippo. The commodity portfolio is actually at the moment relatively stable. Most of that headwind that is in the guidance is pulp at the moment. We continue to”