{"id":928,"date":"2020-09-01T10:49:28","date_gmt":"2020-09-01T08:49:28","guid":{"rendered":"https:\/\/newnordicinvestor.com\/vdn-har-ordet\/"},"modified":"2026-07-31T07:34:27","modified_gmt":"2026-07-31T05:34:27","slug":"vdn-har-ordet","status":"publish","type":"page","link":"https:\/\/newnordicinvestor.com\/sv\/vdn-har-ordet\/","title":{"rendered":"VD har ordet"},"content":{"rendered":"<div class=\"wpb-content-wrapper\">[vc_row][vc_column][vc_single_image image=&#8221;2089&#8243; img_size=&#8221;full&#8221; alignment=&#8221;center&#8221;][\/vc_column][\/vc_row][vc_row][vc_column]<div class=\"norebro-text-sc \" \n\tid=\"norebro-custom-6a758ff63fc55\" \n\t \n\t>\n\n\t<p><span style=\"font-size: X-large;\">VD uttalande \u2013 Karl Kristian Bergman Jensen<\/span><\/p>\n<p>2026-07-31<\/p>\n<p class=\"p1\">Det blev ett kvartal med rekordoms\u00e4ttning och det starkaste resultatet vi har levererat p\u00e5 l\u00e4nge. Den h\u00f6ga oms\u00e4ttningen under kvartalet drevs fr\u00e4mst av en stark utveckling hos v\u00e5ra distribut\u00f6rer i Asien, men vi uppn\u00e5dde ocks\u00e5 en stabil tillv\u00e4xt i Norden och USA. Lanseringarna av innovationer inom v\u00e5ra varum\u00e4rken Hair Volume\u2122 och Magic Magnesium\u2122, liksom introduktionen av produktserien Longevity, har varit framg\u00e5ngsrika och bidragit till \u00f6kad f\u00f6rs\u00e4ljning.<\/p>\n<p class=\"p1\">Bruttomarginalen minskade n\u00e5got till 63,5 procent, fr\u00e4mst till f\u00f6ljd av en relativt st\u00f6rre andel f\u00f6rs\u00e4ljning till v\u00e5ra distribut\u00f6rer, d\u00e4r bruttomarginalerna naturligt \u00e4r l\u00e4gre \u00e4n p\u00e5 de marknader vi betj\u00e4nar direkt genom v\u00e5ra dotterbolag. Vi ser att \u00e5terf\u00f6rs\u00e4ljare i flera l\u00e4nder minskar sina lager och i vissa fall har likviditetsutmaningar. Det \u00e4r paradoxalt att detaljhandeln har det tufft samtidigt som marknaden f\u00f6r kosttillskott forts\u00e4tter sin l\u00e5ngsiktiga tillv\u00e4xt. D\u00e4rf\u00f6r genomf\u00f6r vi ocks\u00e5 initiativ som vi p\u00e5 l\u00e4ngre sikt f\u00f6rv\u00e4ntar oss ska \u00f6ka v\u00e5r direktf\u00f6rs\u00e4ljning till konsumenter.<\/p>\n<p class=\"p1\">Oms\u00e4ttningen \u00f6kade med n\u00e4rmare 15 procent under kvartalet, samtidigt som vi begr\u00e4nsade \u00f6kningen av r\u00f6relsekostnaderna till 7 procent. Under \u00e5rets f\u00f6rsta halv\u00e5r \u00f6kade oms\u00e4ttningen med drygt 3 procent, medan kostnaderna steg med 1 procent. Resultatet efter skatt f\u00f6rb\u00e4ttrades med 5,2 MSEK under kvartalet till 7,3 MSEK. Det positiva resultatet under andra kvartalet uppv\u00e4gde f\u00f6rlusten under f\u00f6rsta kvartalet, vilket inneb\u00e4r att vi efter \u00e5rets f\u00f6rsta sex m\u00e5nader kan redovisa ett resultat efter skatt p\u00e5 4,4 MSEK.<\/p>\n<p class=\"p1\">Kassafl\u00f6det fr\u00e5n den l\u00f6pande verksamheten uppgick till 5,3 MSEK under kvartalet. V\u00e5r finansiella st\u00e4llning \u00e4r fortsatt stark och g\u00f6r det m\u00f6jligt f\u00f6r oss att finansiera v\u00e5r fortsatta tillv\u00e4xt med egna medel.<\/p>\n<p class=\"p1\">Norden<br \/>\nOms\u00e4ttningen i Norden \u00f6kade med 10 procent under kvartalet, vilket bidrog till en positiv utveckling under \u00e5rets f\u00f6rsta halv\u00e5r. Detta uppn\u00e5ddes trots att h\u00e4lsokostkedjan LIFE \u00e4nnu en g\u00e5ng genomgick en rekonstruktion, vilket \u00e5terigen medf\u00f6rde f\u00f6rluster f\u00f6r New Nordic \u2013 denna g\u00e5ng i Norge. Tillv\u00e4xten drevs av lanseringen av nya produkter och \u00f6kade marknadsf\u00f6ringsinsatser, med en s\u00e4rskilt stark utveckling i Danmark och Sverige.<\/p>\n<p class=\"p1\">Europa<br \/>\nI Storbritannien, v\u00e5r st\u00f6rsta marknad i Europa, har vi ut\u00f6kat v\u00e5r distribution s\u00e5 att v\u00e5ra b\u00e4sts\u00e4ljande produkter nu \u00e4ven finns p\u00e5 hyllorna hos Boots. Holland &amp; Barrett, v\u00e5r st\u00f6rsta detaljhandelspartner, \u00f6kade sin f\u00f6rs\u00e4ljning av New Nordics produkter under kvartalet. Trots detta minskade f\u00f6rs\u00e4ljningen i Storbritannien b\u00e5de under kvartalet och under \u00e5rets f\u00f6rsta halv\u00e5r, till f\u00f6ljd av att \u00e5terf\u00f6rs\u00e4ljarna reducerade sina lager.<\/p>\n<p class=\"p1\">I \u00f6vriga Europa fortsatte \u00e5terf\u00f6rs\u00e4ljare och grossister ocks\u00e5 att minska sina lager till f\u00f6ljd av det os\u00e4kra marknadsl\u00e4get. Risken f\u00f6r recession upplevs fortfarande som h\u00f6g och konsumentf\u00f6rtroendet \u00e4r svagt. Detta har haft en tydlig negativ p\u00e5verkan p\u00e5 v\u00e5r f\u00f6rs\u00e4ljning b\u00e5de under kvartalet och under \u00e5rets f\u00f6rsta halv\u00e5r.<\/p>\n<p class=\"p1\">Vi arbetar m\u00e5lmedvetet med att \u00f6ka f\u00f6rs\u00e4ljningen genom lansering av nya produkter och andra kommersiella initiativ. Trots de utmanande marknadsf\u00f6rh\u00e5llandena f\u00f6rv\u00e4ntar vi oss en f\u00f6rb\u00e4ttrad utveckling under \u00e5rets andra h\u00e4lft.<\/p>\n<p class=\"p1\">Nordamerika<br \/>\nSammantaget utvecklades Nordamerika positivt. F\u00f6rs\u00e4ljningen minskade n\u00e5got i Kanada, medan utvecklingen i USA var stark. Under kvartalet genomf\u00f6rde vi en omstrukturering av v\u00e5ra marknadsf\u00f6ringsaktiviteter i Kanada, och de f\u00f6rsta resultaten har varit uppmuntrande. Vi f\u00f6rv\u00e4ntar oss d\u00e4rf\u00f6r att f\u00f6rs\u00e4ljningen i Kanada f\u00f6rb\u00e4ttras under \u00e5rets andra h\u00e4lft. I USA drevs tillv\u00e4xten fr\u00e4mst av justeringar i v\u00e5r mediemix och marknadsf\u00f6ringsstrategi. Vi ser mycket positivt p\u00e5 m\u00f6jligheterna i USA och kommer att \u00f6ka v\u00e5ra investeringar i marknadsf\u00f6ring, forts\u00e4tta att ut\u00f6ka v\u00e5r distribution samt etablera ett ehandelskontor i Kalifornien.<\/p>\n<p class=\"p1\">\u00d6vriga v\u00e4rlden<br \/>\nF\u00f6rs\u00e4ljningen i Vietnam och Kina \u00f6kade under kvartalet till f\u00f6ljd av nya produktlanseringar och ett f\u00f6r\u00e4ndrat produktfokus, vilket resulterade i betydande best\u00e4llningar fr\u00e5n v\u00e5ra distribut\u00f6rer. Samtidigt arbetar vi aktivt med att etablera nya distributionssamarbeten i bland annat Sydkorea och Mexiko. Vi f\u00f6rv\u00e4ntar oss att dessa samarbeten blir verklighet under \u00e5rets andra h\u00e4lft.<\/p>\n<p class=\"p1\">New Nordic Extracts<br \/>\nUnder de senaste \u00e5ren har vi arbetat med att f\u00e4rdigst\u00e4lla ett antal av v\u00e5ra unika v\u00e4xtextrakt f\u00f6r f\u00f6rs\u00e4ljning som r\u00e5varor till distribut\u00f6rer och tillverkare av kosttillskott och kosmetiska produkter v\u00e4rlden \u00f6ver. Intresset f\u00f6r dessa extrakt har varit s\u00e4rskilt stort bland kunder i Asien och USA. Den kommersiella f\u00f6rs\u00e4ljningen har nu inletts och vi f\u00f6rv\u00e4ntar oss att New Nordic Extracts redan under 2027 kommer att bidra positivt till resultatet.<\/p>\n<p class=\"p1\">Fokus<br \/>\nVi \u00e4r fortsatt fullt engagerade i v\u00e5rt strategiska m\u00e5l att konsolidera och st\u00e4rka v\u00e5r n\u00e4rvaro p\u00e5 samtliga befintliga marknader, samtidigt som vi etablerar distributionssamarbeten i ytterligare strategiskt viktiga l\u00e4nder. Med en v\u00e4letablerad f\u00f6rs\u00e4ljnings- och marknadsf\u00f6ringsplattform i Europa, Nordamerika, Kina,<\/p>\n<p class=\"p1\">Vietnam, Hongkong och Australien samt webbutiker i 23 l\u00e4nder \u00e4r New Nordic v\u00e4l positionerat f\u00f6r fortsatt tillv\u00e4xt p\u00e5 den snabbt v\u00e4xande marknaden f\u00f6r kosttillskott. Fram\u00f6ver kommer vi fortsatt att ha ett tydligt fokus p\u00e5 att skapa organisk tillv\u00e4xt, f\u00f6rb\u00e4ttra den operativa effektiviteten och \u00f6ka resultatet per aktie. Jag \u00e4r \u00f6vertygad om att de initiativ som planeras f\u00f6r 2026 kommer att st\u00e4rka aktie\u00e4garv\u00e4rdet ytterligare och positionera New Nordic f\u00f6r l\u00e5ngsiktig och h\u00e5llbar tillv\u00e4xt.<\/p>\n<p>Karl Kristian Bergman Jensen,VD<br \/>\nNew Nordic Healthbrands AB<br \/>\nS\u00f6dra F\u00f6rstadsgatan 3 C<br \/>\nSE-211 43 Malm\u00f6<br \/>\nSweden<\/p>\n\t\n<\/div>[\/vc_column][\/vc_row]\n<\/div>","protected":false},"excerpt":{"rendered":"<p>[vc_row][vc_column][vc_single_image image=&#8221;2089&#8243; img_size=&#8221;full&#8221; alignment=&#8221;center&#8221;][\/vc_column][\/vc_row][vc_row][vc_column][\/vc_column][\/vc_row]<\/p>\n","protected":false},"author":1,"featured_media":262,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"footnotes":""},"class_list":["post-928","page","type-page","status-publish","has-post-thumbnail","hentry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>VD har ordet - NewNordicInvestor<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/newnordicinvestor.com\/sv\/vdn-har-ordet\/\" \/>\n<meta property=\"og:locale\" content=\"sv_SE\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"VD har ordet - NewNordicInvestor\" \/>\n<meta property=\"og:description\" content=\"[vc_row][vc_column][vc_single_image image=&#8221;2089&#8243; img_size=&#8221;full&#8221; alignment=&#8221;center&#8221;][\/vc_column][\/vc_row][vc_row][vc_column][\/vc_column][\/vc_row]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/newnordicinvestor.com\/sv\/vdn-har-ordet\/\" \/>\n<meta property=\"og:site_name\" content=\"NewNordicInvestor\" \/>\n<meta property=\"article:modified_time\" content=\"2026-07-31T05:34:27+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/newnordicinvestor.com\/wp-content\/uploads\/2020\/04\/Screen-Shot-2020-04-26-at-23.47.37.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1366\" \/>\n\t<meta property=\"og:image:height\" content=\"878\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Ber\u00e4knad l\u00e4stid\" \/>\n\t<meta name=\"twitter:data1\" content=\"3 minuter\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/newnordicinvestor.com\\\/sv\\\/vdn-har-ordet\\\/\",\"url\":\"https:\\\/\\\/newnordicinvestor.com\\\/sv\\\/vdn-har-ordet\\\/\",\"name\":\"VD har ordet - NewNordicInvestor\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/newnordicinvestor.com\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/newnordicinvestor.com\\\/sv\\\/vdn-har-ordet\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/newnordicinvestor.com\\\/sv\\\/vdn-har-ordet\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/newnordicinvestor.com\\\/wp-content\\\/uploads\\\/2020\\\/04\\\/Screen-Shot-2020-04-26-at-23.47.37.png\",\"datePublished\":\"2020-09-01T08:49:28+00:00\",\"dateModified\":\"2026-07-31T05:34:27+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/newnordicinvestor.com\\\/sv\\\/vdn-har-ordet\\\/#breadcrumb\"},\"inLanguage\":\"sv-SE\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/newnordicinvestor.com\\\/sv\\\/vdn-har-ordet\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"sv-SE\",\"@id\":\"https:\\\/\\\/newnordicinvestor.com\\\/sv\\\/vdn-har-ordet\\\/#primaryimage\",\"url\":\"https:\\\/\\\/newnordicinvestor.com\\\/wp-content\\\/uploads\\\/2020\\\/04\\\/Screen-Shot-2020-04-26-at-23.47.37.png\",\"contentUrl\":\"https:\\\/\\\/newnordicinvestor.com\\\/wp-content\\\/uploads\\\/2020\\\/04\\\/Screen-Shot-2020-04-26-at-23.47.37.png\",\"width\":1366,\"height\":878},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/newnordicinvestor.com\\\/sv\\\/vdn-har-ordet\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/newnordicinvestor.com\\\/sv\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"VD har ordet\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/newnordicinvestor.com\\\/#website\",\"url\":\"https:\\\/\\\/newnordicinvestor.com\\\/\",\"name\":\"New Nordic Investor\",\"description\":\"New Nordic Investor\",\"publisher\":{\"@id\":\"https:\\\/\\\/newnordicinvestor.com\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/newnordicinvestor.com\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"sv-SE\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/newnordicinvestor.com\\\/#organization\",\"name\":\"New Nordic Healthbrands\",\"url\":\"https:\\\/\\\/newnordicinvestor.com\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"sv-SE\",\"@id\":\"https:\\\/\\\/newnordicinvestor.com\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/newnordicinvestor.com\\\/wp-content\\\/uploads\\\/2020\\\/04\\\/newnordicreg.jpg\",\"contentUrl\":\"https:\\\/\\\/newnordicinvestor.com\\\/wp-content\\\/uploads\\\/2020\\\/04\\\/newnordicreg.jpg\",\"width\":478,\"height\":478,\"caption\":\"New Nordic Healthbrands\"},\"image\":{\"@id\":\"https:\\\/\\\/newnordicinvestor.com\\\/#\\\/schema\\\/logo\\\/image\\\/\"}}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"VD har ordet - NewNordicInvestor","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/newnordicinvestor.com\/sv\/vdn-har-ordet\/","og_locale":"sv_SE","og_type":"article","og_title":"VD har ordet - NewNordicInvestor","og_description":"[vc_row][vc_column][vc_single_image image=&#8221;2089&#8243; img_size=&#8221;full&#8221; alignment=&#8221;center&#8221;][\/vc_column][\/vc_row][vc_row][vc_column][\/vc_column][\/vc_row]","og_url":"https:\/\/newnordicinvestor.com\/sv\/vdn-har-ordet\/","og_site_name":"NewNordicInvestor","article_modified_time":"2026-07-31T05:34:27+00:00","og_image":[{"width":1366,"height":878,"url":"https:\/\/newnordicinvestor.com\/wp-content\/uploads\/2020\/04\/Screen-Shot-2020-04-26-at-23.47.37.png","type":"image\/png"}],"twitter_card":"summary_large_image","twitter_misc":{"Ber\u00e4knad l\u00e4stid":"3 minuter"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/newnordicinvestor.com\/sv\/vdn-har-ordet\/","url":"https:\/\/newnordicinvestor.com\/sv\/vdn-har-ordet\/","name":"VD har ordet - NewNordicInvestor","isPartOf":{"@id":"https:\/\/newnordicinvestor.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/newnordicinvestor.com\/sv\/vdn-har-ordet\/#primaryimage"},"image":{"@id":"https:\/\/newnordicinvestor.com\/sv\/vdn-har-ordet\/#primaryimage"},"thumbnailUrl":"https:\/\/newnordicinvestor.com\/wp-content\/uploads\/2020\/04\/Screen-Shot-2020-04-26-at-23.47.37.png","datePublished":"2020-09-01T08:49:28+00:00","dateModified":"2026-07-31T05:34:27+00:00","breadcrumb":{"@id":"https:\/\/newnordicinvestor.com\/sv\/vdn-har-ordet\/#breadcrumb"},"inLanguage":"sv-SE","potentialAction":[{"@type":"ReadAction","target":["https:\/\/newnordicinvestor.com\/sv\/vdn-har-ordet\/"]}]},{"@type":"ImageObject","inLanguage":"sv-SE","@id":"https:\/\/newnordicinvestor.com\/sv\/vdn-har-ordet\/#primaryimage","url":"https:\/\/newnordicinvestor.com\/wp-content\/uploads\/2020\/04\/Screen-Shot-2020-04-26-at-23.47.37.png","contentUrl":"https:\/\/newnordicinvestor.com\/wp-content\/uploads\/2020\/04\/Screen-Shot-2020-04-26-at-23.47.37.png","width":1366,"height":878},{"@type":"BreadcrumbList","@id":"https:\/\/newnordicinvestor.com\/sv\/vdn-har-ordet\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/newnordicinvestor.com\/sv\/"},{"@type":"ListItem","position":2,"name":"VD har ordet"}]},{"@type":"WebSite","@id":"https:\/\/newnordicinvestor.com\/#website","url":"https:\/\/newnordicinvestor.com\/","name":"New Nordic Investor","description":"New Nordic Investor","publisher":{"@id":"https:\/\/newnordicinvestor.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/newnordicinvestor.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"sv-SE"},{"@type":"Organization","@id":"https:\/\/newnordicinvestor.com\/#organization","name":"New Nordic Healthbrands","url":"https:\/\/newnordicinvestor.com\/","logo":{"@type":"ImageObject","inLanguage":"sv-SE","@id":"https:\/\/newnordicinvestor.com\/#\/schema\/logo\/image\/","url":"https:\/\/newnordicinvestor.com\/wp-content\/uploads\/2020\/04\/newnordicreg.jpg","contentUrl":"https:\/\/newnordicinvestor.com\/wp-content\/uploads\/2020\/04\/newnordicreg.jpg","width":478,"height":478,"caption":"New Nordic Healthbrands"},"image":{"@id":"https:\/\/newnordicinvestor.com\/#\/schema\/logo\/image\/"}}]}},"_links":{"self":[{"href":"https:\/\/newnordicinvestor.com\/sv\/wp-json\/wp\/v2\/pages\/928","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newnordicinvestor.com\/sv\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/newnordicinvestor.com\/sv\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/newnordicinvestor.com\/sv\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newnordicinvestor.com\/sv\/wp-json\/wp\/v2\/comments?post=928"}],"version-history":[{"count":39,"href":"https:\/\/newnordicinvestor.com\/sv\/wp-json\/wp\/v2\/pages\/928\/revisions"}],"predecessor-version":[{"id":2969,"href":"https:\/\/newnordicinvestor.com\/sv\/wp-json\/wp\/v2\/pages\/928\/revisions\/2969"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newnordicinvestor.com\/sv\/wp-json\/wp\/v2\/media\/262"}],"wp:attachment":[{"href":"https:\/\/newnordicinvestor.com\/sv\/wp-json\/wp\/v2\/media?parent=928"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}