“we have great confidence in sustainable, adjustable EPS growth in both currency-neutral and dollar terms.”

In context

“ansformation to drive continued value creation. I would encourage anyone with an interest in how and why we are transforming to read it. I will now conclude today's presentation with some key messages. Following an excellent start to the year, we are now on track for another year of strong performance in 2025. While no company is immune to macroeconomic volatility, we believe we are well positioned to navigate external dynamics. We have three powerful growth drivers with pricing power and positive smoke-free categories on top of volume growth, where we target our fifth consecutive year of extension, led by IQOS, ZYN and VEEV. As we continue to invest strongly behind our smoke-free brand, these drivers are also profit-accretive, and combined with our proactive measures on pricing and cost, we have great confidence in sustainable, adjustable EPS growth in both currency-neutral and dollar terms. Finally, we will remain a highly cash-generative business with an unwavering commitment to our progressive dividend policy. We look forward to further rewarding our shareholders as our transformation delivers sustainable growth. Thank you, and we are now very happy to answer your questions. Thank you. Operator: [Operator Instructions] And our first question comes from Bonnie Herzog of Goldman Sachs. Bonnie Herzog: All right. Thank you. Hi, Emmanuel and everyone. I had a few questions on ZYN. Could you maybe give us some more color on the out-of-stock issues you might still be experiencing in the U.S.? I know you touched on this, but then just curious how long you think it will take for retailers to rebuild their inventories. And I know you raised your shipment guidance for ZYN for the yea”