“And we should see less headwind on cost of goods, which is probably good for the combustible cigarette profitability.”

In context

“he 9.7% in Q3 was a remarkable price increase. Don’t take that for Q4 as a guidance, but that was very good in Q3. And that shows that in this category, where I think we’ve been clear on our objective, which is really to maximize the performance on combustible in order to accompany and help the fastest transition to smoke-free. I think this strategy on combustible is working and delivering. And remember, we also said that in 2025, we expect a number of positive evolution for combustible cigarettes when it comes to cost of goods, where we’ll have a lower level of headwinds. So there will be continuation of price increase in the future without a doubt. Nevertheless, don’t take the 8% to 9% as the guidance for the future. We always said that we were more mid-single digits on the medium term. And we should see less headwind on cost of goods, which is probably good for the combustible cigarette profitability. On excise tax, at that stage, there is nothing really material I can report, I would say, traditional discussion, but we’re still a bit early. You know that many, many decisions are made in November, if not in December, so probably we’ll know more at the end of the year. But so far, I would say nothing specific or unusual to flag. Gaurav Jain: Sure. Thank you. And my second question is on your e-cigarette comments. So what you told us is that you have shipped 1.2 billion sticks year-to-date. And if I understand correctly, you are using the conversion factor is 1 ml is 10 sticks. And if I assume 1 pod is 0.7 ml then you’re shipping 160 million pods. So that would suggest that your e-cigarette revenue run rate is $300 million to $400 million, at which your contribution basis breakeven. So a”