“expect margin on smoke free to stay high and expect, of course, the progress year on year to be reduced because we are facing higher margin last year on the smoke free business.”

In context

“t's gonna be necessarily at seventy, but I think we are ballpark in this area where there is a very nice gross margin rate for Smokree. Higher than combustible, and you noted that the gap has been narrowing a bit. It's still significant. I mean, four point five for for the full H1. And it's because CC has been improving a bit which is price and mix of of the combustible sales in in the quarter. So when I look at the at the second part of the year, I think I would really insist on the fact that the improvement of margin on the smoke free business was very important on H1 as we were facing easy comps because of a lot of Illuma device sales last year as we were launching Elooma I. Fundamentally, this is not the case again in HQ. So we don't have the same easy comps, and therefore, as I said, expect margin on smoke free to stay high and expect, of course, the progress year on year to be reduced because we are facing higher margin last year on the smoke free business. For combustible, I think we said that we have the ambition to increase the gross margin as well, and that is valid for Eric Serrano: for for H2. Emmanuel Babeau: I'm not going to repeat on Forex first off because I've I have to admit I haven't been looking at exactly the latest position. I've been giving it because after, I think, so after Q1, we wanted to illustrate where where where we were in term of of of Forex edging, but that's not something I intend to do each time. To be clear. Faham Baig: Okay. Thanks, Emmanuel. Thank you. Operator: Thank you. Our next question comes from Callum Elliott with Bernstein. Your line is open. Callum Elliott: Great. Thank you very much for the question. Matt Smith: Emmanuel. Callum Elliott: Hi, Emmanuel. So my first question is on Aviv, if that's okay.”