Pernod Ricard S A

The conference will begin shortly. To raise your hand. Good day and thank you for standing by. Welcome to the EMEA LATAM conference call. At this time, all participants are in listen-only mode. After the speaker's presentation, there will be the question and answer session. To ask a question during the session, you will need to press star 11 on your telephone keypad. You will then hear an automatic message advising your hand is raised. Please be advised that today's conference is being recorded. I would now like to hand the conference over to your speaker today, Charlie Monte. Please go ahead.

Good morning. Good afternoon, everyone. We are very pleased to welcome you to our EMEA LATAM conference call. We are today hosted by Gilles Bogart, Chairman and CEO of Pernod Ricard EMEA LATAM. I guess most of you would have seen the video we posted on our website this morning. So in the interest of time, I suggest we go straight into the Q&A session. Operator, could you please open the line to the first caller?

Thank you very much. Dear participants, as a reminder, if you wish to ask a question, please press star 1 1 on your telephone keypad. Now we're going to take our first question. Please stand by. And the first question comes from the line of Olivier Nicolai from Goldman Sachs. Your line is open. Please ask a question.