“So in terms of Smokefree portfolio, expect even IQOS to accelerate. We expect ZYN continue to grow very fast.”

In context

“3 twenty twenty four. And this is what you should expect in the future. But taking that into account, I'm happy to repeat that we expect ZYN In this new normal or in this normal, I would say, situation to remain very nicely the best in class margin in the group. Matt Smith: Thank you for that clarification. And you talked about the single digit operating profit growth on an underlying basis in the fourth quarter. Can you you provide a little bit more detail behind the drivers behind that? How much of it is related to related timing for IQOS and ZYN versus investment levels remaining high in The U.S. Or other considerations? Thank you. And I'll pass it on. Emmanuel Babeau: Sure, Matt. I mean, the message, if I was to simplify it, is the momentum for the business is going to continue in Q4. So in terms of Smokefree portfolio, expect even IQOS to accelerate. We expect ZYN continue to grow very fast. Of course, we expect a good performance in The U.S, but it goes beyond The U.S. And we also expect this to continue to grow very nicely. So in terms of underlying consumer offtake growth, everything is the same. All the elements in terms of margin are exactly the same. And that there is nothing changed. So this is really what is going to impact the number and the reason why Q4 is going to be lower than the first nine months that, of course, are impressive in terms of growth. I would say, all level in terms of operating income and and adjusted EPS growth is really the move on inventory. Nothing has changed in the momentum. When it comes to combustible, and it's still 50% plus of the group, we expect to be again between 3% to 4% decline in volume, so nothing has changed in our vision of H2.”