As part of our strategy we continue to focus the Group portfolio and capabilities towards areas of faster growth, better profitability, and scalability. Over the past cycle we have concluded that we are not the best owner for Mavic which only represented approximately 3% of our sales and which has distinct business drivers and little synergies vs. the broader Group. We believe that the iconic Mavic brand has strong potential, which would be better realized as part of Regent. Amer Sports continues to capitalize on its strategic priorities, especially Softgoods, Direct to Consumer, China, and United States. — Heikki Takala, President and CEO of Amer Sports