“On ZYN, Bonnie, we said somewhere in Q4, we will have the supply to the market, meeting consumer demand, which to clarify again, doesn't mean that we will have fully been replenishing all level of inventory.”

In context

“ewed momentum on a consumer off-take or what we call adjusted market sales, which is really what matters. That’s what is important because that’s what is talking about the health of IQOS. Bonnie Herzog: Yes. Okay. All of that makes sense and it’s really helpful. Thank you. And then maybe a second question on ZYN. So the supply constraints appear to be easing, which is great. So I just wanted to confirm, Emmanuel, that you are on track to fully restore supply levels this quarter? Or is there a chance this bleeds into maybe early next year? And then when this happens, how quickly do you expect ZYN to recapture some of the lost market share? And just curious what role will potential stepped up promos play, I guess, if at all? How are you thinking about that? Thank you. Emmanuel Babeau: Sure. On ZYN, Bonnie, we said somewhere in Q4, we will have the supply to the market, meeting consumer demand, which to clarify again, doesn’t mean that we will have fully been replenishing all level of inventory. Here at that point, we believe for what we can assess of the consumer demand that what we bring to the trade will correspond to what the consumer will take from the trade, will buy from the trade. But then there will certainly be – and I’m not able to tell you what is going to happen during this quarter. But I think we are still in this perspective then, but that’s probably more for 2025, there will be a replenishment of the out-of-stock situation. And we will gradually – but that’s going to happen only gradually probably through 2025, put back the level of inventory to what it should be normally and that certainly will take some months as we continue to increase the capacity. Remember, we said that for the full year 2025, we are targeting an overall capacity of around 900 million can. Of”