“We have this outlook of moving into positive bottom line for VEEV in the second part of the year, which would be very good news.”

In context

“ank you. Very helpful. And I just add one more. I want to talk a bit more about Vape. And what sort of volumes do you think you can do here for the year? And if I heard you right, you said you'll be profitable already in H2, which would suggest volumes have been really healthy already. And just any kind of commentary on which markets you're seeing the strongest traction so far? Emmanuel Babeau: Sure, Owen. Of course, there is modest versus IQOS and ZYN in terms of impact at the group level. And we stick to our strategy, which is we don't want to be big in vaping if it's to lose money. We want to be really going with VEEV in markets where we are having the right commercial impact where VEEV can make a difference and in a profitable manner. Indeed, the year started well in terms of volumes. We have this outlook of moving into positive bottom line for VEEV in the second part of the year, which would be very good news. And we are prioritizing markets where we have the critical mass, where I would say the nature of the vaping market is interesting. And we are developing today very nicely, I would say, in markets such as Italy, Czech Republic, France, UK, developing in Canada. These are markets where we can reach, if you want, the size, the mass and where we have the impact to make our vaping business successful and profitable. Operator: Our next question comes from Faham Baig with UBS. Your line is open. Faham Baig: I have a couple as well, both on heated tobacco. Firstly, could I get your view on any implications that you see from the recent EU court ruling on the supplementary excise tax in Germany to any other of the European countries? And when are you expecting a decision from the finance court in D”