“So we could have indeed a gap that could continue to expand between smoke free product and and combustible in the in the coming years.”

In context

“u know, not only is that an opportunity, but also continued margin expansion on Smokefree is what you just mentioned. So do you foresee that gap expanding? I mean, does it go to fifteen points? Spread or, you know, could it go to twenty? It's just kinda trying to think through that in the next couple of years. Emmanuel Babeau: Look. On on the consumable, we we've already highlighted the fact that there was a ten percentage point gap and and it has been expanding in the last few years. So, indeed, we have the ambition to do better on, the gross margin for combustible, and we explained why. But as we continue to progress also rapidly on smooth free products, and both, you know, with the mix effect coming from from ZYN, but separately on IQOS and and and ZYN, we want to continue to progress. So we could have indeed a gap that could continue to expand between smoke free product and and combustible in the in the coming years. Bonnie Herzog: Alright. Thank you. I'll pass it on. Thank you. Thank you, Ben. Operator: Our next question comes from Grav Jay of Gaurav Jain: Good morning. Emmanuel and Jace. Emmanuel Babeau: Thank you for asking my questions. Gaurav Jain: Kevin, I have a couple of questions. One is on Zendesk. So if I look at the scatter data, Jacek Olczak: the volumes have decelerated to mid teens growth. And your guidance is for thirty four percent to forty one percent growth. Gaurav Jain: Then you also mentioned that the supply normalization would only happen in two h twenty five. Emmanuel Babeau: So, you know, just wanted to understand what gives us the confidence that the sooner we can we'll be accelerating to Gaurav Jain: This almost forty percent growth rate again. Jacek Olczak: Yeah. So I I woul”