Good morning to all. Thank you for waiting. Welcome for the conference call for the earnings of Q2 2021 for Lojas Quero-Quero. My name is Flavio Abrantes, manager of investor relations. I have with us Mr. Peter Furukawa, Chairman, and Jean Pablo de Mello, CFO and Investor Relations Officer. This webcast is being transmitted exclusively via the Internet, may be accessed at the address ri.quero-quero.com.br. For the Q&A session, questions should be asked through the webcast platform. Apart from this webcast is being recorded and will be placed on our website. Before proceeding, we would like to clarify that any declarations that may be made during this webcast concerning the business perspectives of the company's projections, operational financial goals are based on beliefs and assumptions of the management of Lojas Quero-Quero and also on information currently available to the company.
Considerations about the future are not guarantees of performance and involve uncertainties and assumptions. They refer to future events and therefore depend on circumstances that may or may not occur. Investors should understand that general economic conditions, industry, and other factors may affect the future results of the company and may lead to results that may differ materially from those expressed in these considerations about the future. To begin the presentation, let's please go to slide number two. Our agenda today will cover updates concerning the operation during the pandemic, general results, progress of the expansion and Quero-Quero stores, and results for the Q2 2021. Finally, we will have a Q&A session. Now, slide number three, now we will hear the Chairman of Lojas Quero-Quero, Peter Furukawa for Q1.
Good morning. It's a great pleasure to be with you once again and to talk about Q2 for Lojas Quero-Quero.
Obviously, we're very concerned with COVID. We have told all our employees to be very careful. Some people believe it's almost over, but in reality, we don't know. We always tell our employees and collaborators to continue using masks, alcohol, distancing, et cetera. In Q2, we had very few interventions in stores. All the stores were able to operate. We had very few restrictions. You can see here in orange the days when there were restrictions for the operation of stores. Stores that we were able to open only for construction material in yellow. We were not allowed to sell within the store home appliances and furniture, but few stores had these restrictions due to the coronavirus. The next chart, please. Here, the numbers for Quero-Quero. Our growth in Q2 in same-store sales can be seen here, 35.2%.
The revenue from retail grew 45.3% in Q2 versus Q2 2020 and almost 17% in relation to Q2 2019. We closed the semester with 48% growth versus last year and almost 63% versus 2019. EBITDA BRL 46.1 million, which is a significant growth versus 2020, 2019. As we had already commented during the IPO a year ago, as we grow, as we gain market share and open stores, our results are increasing as we have seen in the last five years. We hope to continue this way in the next few years. The chart on the right shows here on the upper right, we continue to gain market share. You can see that the curve went up even more. Most of this is market gains. We hope to continue gaining market share as we evolve.
Reminding you, we have 78% market share in the cities where we are present, so there is a lot of space to grow in the next 10 years. Our profit is BRL 16 million, 27.6% higher than Q1. Significant growth versus previous years, and we can see this with the curve. The next chart, please. We have three pillars where we're doing very well, we must continue, and a fifth that we're learning. I always tell you that people talk a lot about opening new stores. Our focus is to gain market share with new stores and in the markets where we are present. In the markets where we're present, we have gained market share by transforming the stores. We have basic stores, then one, two, three. As we change the format of the stores, normally we increase sales significantly with each one of these changes in the stores.
We continue to convert stores as I will comment a little later, and also to open new stores. We had a growth of 45% in retail, same-store sales of 35%. I will comment on this. Obviously, we are being helped by the construction cycle. People are still in their homes, so they are improving their homes due to the pandemic, and we believe there will be a carryover in the next few months also with people still investing in their homes. We also have the benefit of being in an area with a lot of agriculture, and agriculture is doing very well. Agribusiness is doing very well. I believe it should continue to do well, agribusiness, even with some problems in the harvest, but the prices are high, compensating the problems in the harvest. We're gaining market share and we should continue to gain market share.
Second, excellence in credit and collection. We have done this with a team that is totally focused on this. We were able to reduce the delay on the VerdeCard, on our credit card. We decreased from 30%, the delay in default, from 13%- 9.4% at the end of Q2 2021. This is something we know how to do. We should continue to do this very well. Another cost is on cost. We have to reduce costs, leverage, do more with less. Nominally, we can continue there. We have to always decrease costs, we know. This shows our operating leverage. We have been successful doing this. Operational expenses have grown less than our profit. I'd like to talk about we continue focused on being better than we were in the past.
We have aggressive goals and people always trying to do better, not only for the company, but they are striving to be better professionals, better people in everything they do. We had 65 store managers that graduated in the training course, 115 being trained, 53 that have potential. Visiting stores, it's good to see those who have potential. These are the future managers. We have 421, this gives us comfort for the next three years. We must continue always growing this number. We still don't have one potential manager per store. This is our goal. Some stores have more than one person with potential to be manager, but we should strive to have people with potential to be managers in every store, especially on the stores that are farther away because we need people in these stores to become future managers with expansion.
We have constant evaluations, performance evaluations. The fifth pillar, the one we're learning how to do, and I believe personally that this project can really be a success, phygital retail, using our store as the sales points of more products than are present in the store. We already do this, but with a greater assortment, more SKUs, stores can sell to the communities products that are not physically at the store. It's good to say that in the interior, things are more healthy. They are not very frenetic. It is a little slower than in larger cities. There is a learning curve. We will learn more and more how these communities will react to phygital sales with the sale of products that are not physically in the store.
A great variety of products with fast delivery, with the clients buying from a salesperson inside the store. If they have a problem, they can solve their problem at the store. The guarantee that if it's not delivered in two days, then they don't have to pay for it. We will have to teach the communities where we are present, showing that they can have even more beautiful homes with this variety of sales of these products. We are doing this in 60 stores as a test until the end of the year. We will learn in order to expand this next year. It's only a test. It may work, it may not work.
It's a bet that we made, approved by the Council, and we are now working with an excellent team implementing this, doing fantastic things during difficult times, and with the support of the organization to make it a success. That's the phygital retail sales. Next, please. Here the evolution of the stores. We opened 17 new stores in Q2, and we revamped, I will show in the next chart, another 12 stores. You must also know that 80% of our stores continue to be in cities with less than 100,000 inhabitants. These are the stores we opened this year, especially in the state of Paraná, state of Santa Catarina, and some in the state of Rio Grande do Sul. We still have opportunities in the state of Rio Grande do Sul. Santa Catarina has medium opportunities, and the state of Paraná has a lot of opportunities.
Our desire is to open 70 new stores this year. Our expansion team believes that we will be able to open these 70 stores this year. We had times when we questioned this number, 70 new stores, because construction of some of these stores ran into problems with the team having problems with the pandemic, with COVID, lack of products. Reviewing things, the expansion team believes that we should be able to open the 70 new stores this year. Next chart, please. Here we have the stores that we revamped. 12 stores were revamped in this quarter, sorry. Today we have 67 traditional stores still, basically because we didn't find a way to expand them, to transform them. As soon as we have the right opportunities, we will be transforming them too.
We have 253 stores in phase I, 83 in phase II, and 15 in phase III. We should have 20 new stores in phase III. This model is doing very well, and ROIC continues well, even increasing the investments in products, in inventory. I believe we should have 100 stores in phase III, and eventually, as we learn, we want to implement phase IV. We are learning little by little. We don't want to give a leap larger than we can, because this compromises working capital. We're very conscious. We're firm to preserve also working capital. This is what I said about the phygital process. We are preparing the showroom where these products will be placed with the technology that will be necessary for this. We're working very hard on this. We're doing this in the distribution center of Sapiranga.
We have the sales team, people working specifically on this project of phygital sales. Also sales tax area, everyone working to really sell these products in the stores. We would like to have the maximum number of SKUs implemented by the end of this year. We probably won't be able to have all 20,000 new SKUs by December, but we will be close to this number. We're working to get close to these numbers by December. New categories being included. There is a great learning curve during this project. We see that people in the stores are motivated for phygital sales. We want to implement this as soon as possible. Once again, we will begin with a test in 60 stores. We will learn, correct, and then expand to the other stores next year. This is the concept that we're using. We have knowledge about our client.
We have our relationships. We know how to sell. This opens new possibilities for us. We have also logistics capacity. All stores receive at least two visits from the Distribution center every week. Our dream is to get to three deliveries from the distribution center to each store, even the smallest stores. We have guarantees of delivery. If we don't deliver on time, the customer doesn't have to pay. It may be a great opportunity for us, but also it may not work. We're doing our best to make it work. Next, please. Here, showing to you in Q1, we had already moved our distribution center from Santo Cristo to a new facility, and now we also moved to Sapiranga. The inauguration. We're inaugurating another distribution center in Corbélia, in the west of the state of Paraná.
This, we will be able to work very well until the middle of next year, and we will be talking probably at the end of next year, a new distribution center in the southeast of the state of São Paulo for the stores in São Paulo and south of the state of Mato Grosso. We're very efficient in logistics with a fantastic team working so we can cover with our project Quero-Quero. Everyone knows that if we don't deliver on time, they don't have to pay. On my side, this is what I had to say. Now Jean will go into detail about the numbers, and then we come back to answer the questions during the Q&A session. Thank you.
Good morning to all. It's a great pleasure to be here once again, talking about the details of the results for Lojas Quero-Quero.
Peter gave us a summary of Q2 and this year. I'd like to go into the details of the results, the strong result we had, the positive result we had. We begin our discussion with slide number 10 with revenue. Revenue has three business activities, retail, credit card, and services. In retail, we grew 35% in same-store sales. Even last year, we had a positive growth during Q2 in same-store sales. In 2019 also, we had growth of 4%. Consistent growth in comparison with last year, but also in terms of 2019. When we consider the total sales with the opening of new stores with expansion, this year in Q2, we grew 45.3% retail revenue, which represents a growth of practically 70% versus Q2 2019. We see a strong growth, gaining market share in same-store sales and also expansion.
In the semester, here we have 48%, first semester of last year in comparison, 63% versus 2019. Growth, of course, we had the pandemic, but growth also versus the period before the pandemic. This has a positive impact on financial services. Financial services are showing a recovery gradually. During the pandemic, we were more conservative in credit concession, so there was a small drop, but the portfolio is growing, and it's a healthy portfolio of credit cards. Today, we have in Q2 a growth of 30.3% on revenue financial services, and here we have BRL 230 million of revenue from financial service, a growth of 21.9% versus the previous year. Our third activity, credit cards, which is the vehicle, the means by which we offer credit to increase sales in retail.
We had a relevant growth in the usage, both inside and outside the stores of the credit card, 30.3% growth outside the stores, and within the stores, 43.9% growth versus the same quarters in 2020. More revenue, 9.7%. We have growth, accelerated growth. Now going to the next slide, we will show on slide 11 the accumulated growth. With this strong performance in retail and financial services growing, we had a growth of 41.5% in Q2 2021 in relation to the previous year. I reinforce that it represents a growth of almost 63% in relation to Q2 2019. In the semester, also a great growth, 40.3%, getting to a total revenue of BRL 1.154. Net operating revenue, same trend in growth. 40% in the semester until now. Going on to the next slide. I would like to comment on gross profit and gross margin.
You can see that we grew, yes, revenue 42%, and the profit also with the same trend, gross profit with the same trend. We had growth of gross profit in the quarter of 41.8%. You can see that our margin was 39.6%, the same margin that we had in Q2 of the previous year. This also represents a growth of 63% versus Q2 2019. It's important to comment that we had improvements when we look at retail margin, financial services margin, they grew versus the previous year. Financial services grew a little less than retail, and the consolidated margin is the same as last year. We got to the end of the semester, a 40% growth in gross profit, a margin here that you can see, and a margin that is higher than in the first semester of 2019.
It's important to see that we continue to grow, gaining market share, but maintaining the profitability of the margin in the company. The next slide, we maintain this margin, this growth, and also we have operational leverage. We can do more with less, and thus we see the adjusted EBITDA. We got to an EBITDA of BRL 60.9 million in second Q2. When we look at the adjusted EBITDA, excluding the effects of IFRS and also the stock option plan, we get to a growth of 78.8% in the quarter, BRL 46 million at a margin of 9.3%. You can see that comparing with Q2 2020, 2019, there is a nominal growth, also an expansion in the margin. The full accumulated year to date, we can see here we had this EBITDA margin of 9.3%.
Truly, it's a growth that is very healthy, and this shows the operational leverage. The same operational leverage will be seen in the next slide, where we will comment, slide 14, net profit. The same way we leveraged EBITDA, we also leveraged the net profit. We have a net profit of BRL 16 million in Q2 2021 with a net margin here, an expressive growth of 3.2% versus the same period in 2020. Year to date, BRL 27.7 million, nine times the results of 2020. It's truly this operational leverage that can be seen and also in net profit. We got to BRL 27.6 million with a margin of 3%. Reminding you that since the IPO, we adopted the stock options plan, which had a net effect of BRL 3.1 million in the quarter. If we exclude this effect, the net profit would have an even greater growth, BRL 19.1 million.
In the semester is a little larger, excluding the stock option plan, BRL 33.3 million for the semester. This is the result that we present in the quarter and in the semester, strong growth and operational leverage. I'd like to comment a little about the components that led us to have this strong and positive result. Next slide. We will talk a little about the growth of the credit card portfolio. As we mentioned previously, it has been growing since the beginning of the pandemic when we were more conservative in giving credit. You can see that between Q1 2020 and Q2, we made restrictions, after that, we had a constant growth. We closed Q2 this year with BRL 552 million in the credit card with interest.
You can see here a growth of 22.6% in comparison with the same quarter last year, a growth of 35% in relation to Q2 2019. Continuous recovery of growth, but in a very healthy way. You can see that in the graph below, which is the delay above 90 days default amount, above 90 days, the index was 9.4%, and this is due to seasonality. It's also inferior to 13% last year and inferior to 11.6% that we had in Q2 2019. This growth of the credit card is happening in a healthy way, and this is the effect of our credit operation, but also our collection operation, and also the economic situation of the clients is improving better than we imagined in the beginning of the pandemic. This brought the growth of revenue from financial services. Next slide.
This is to show the usage of the credit card, because this will really generate the receivables from credit cards. The card suffered a little more during the pandemic, especially purchases outside the store. In Q2, we had a growth of 36.5% in relation to the previous year, 36.5% in relation to 2020, and a growth of the usage of the card within the stores and outside the stores. This recovery is important within and outside the stores. Year to date, BRL 903 million with our card, BRL 475 million outside the stores and BRL 429 million within our stores. Especially, it's a recovery in the usage of the credit card outside our stores. The next slide. We already mentioned credit. Let's talk about cash management.
In this quarter, we took out additional loans at a lengthening of the maturity of these debts that would be payable in the Q2. We have a gross debt of BRL 373 million. We had a new issuance of shares. We had this FIDC operation to finance the growth of the credit card. This issuance was made with a BR AAA rating and for the amount of BRL 300 million. You can see the cash of the FIDC. In adjusted net debt, where we do not consider FIDC, we ended the quarter with a net debt. We're growing without financial leverage. Reminding you that in Q2, we had the payment of BRL 16 million to shareholders. Distribution of BRL 16 million in earnings to shareholders. The next slide, the investments we are making. Peter mentioned the inauguration of the distribution centers.
We inaugurated a new structure in Sapiranga. We also inaugurated a third distribution center, the first outside the state of Rio Grande do Sul in the city of Corbélia, Paraná, an investment of BRL 20.9 million in Q2. In this investment, also the inauguration of 17 new stores. This is an acceleration versus the 9 stores that we opened in 2020 and 13 in 2019. Also we made the transformation of 12 stores from phase one to phase two and some to phase three. Year to date, we have been investing in order to grow, to be ready for this growth, but you can see that we have maintained the net debt controlled. We total investment of BRL 36.1 million in year to date. This was the last slide that I had to present, to commenting on the details of how we got to this result.
Now I will pass the floor to Flavio, and we will begin the Q&A session.
Thank you, Jean. We'd like to begin the Q&A session. The first is from Bob Ford, Bank of America, and will be answered by Peter. The question is, Peter, the growth in same-store sales was impressive. We see great changes in terms of mix. Can you talk about the change in mix and also the phygital sales? It seems to be a great part of the sales, although we have a small number of SKUs. How is the consumer accepting these phygital sales? How is this being done in the stores? How do you plan to deal with bottlenecks when you offer the digital offers, when you increase digital offers?
Bob, great pleasure to talk to you.
Well, I would like to be able to say to you that most of this growth comes from phygital sales, it's not true. It would not be true. First, I'll talk in terms of category of product. What is growing a little more is construction material. Construction material has grown more than home appliances and more than furniture. Our phygital is still based on home appliances, phygital sales. Our growth is coming from construction material, which is a category that is the normal type of sale in the stores. Our sale of products that are not in the stores, that we call phygital sales, represented 12%-13%, continues to represent 12%-13%. Of course, sales have grown. 12%-13% today is more than 12%-13% in the past. How the clients are absorbing this, Bob, it's very early to talk about this. We're not making great investments.
We're not placing a lot of information on digital platforms in these cities. Our salesperson using WhatsApp with their clients. It's difficult to measure this now. What makes me happy is that it's growing at the same pace of the company. It's a good sign. I don't know if I answered your question. It's very difficult to really say more. In December, we should have the 60 stores with the implementation complete. We will be able to talk more about what we learned. What we're seeing is that what the client likes in the platform is the variety, greater variety of products through phygital sales. We made a survey. The variety of products increases the possibility of receiving them quickly with the guarantee that if we don't deliver in two days, it's free of charge.
They attach a lot of value in buying from the salesperson because they know the salesperson in their city. This is even more important than the guarantee of non-payment if we don't deliver in two days. The important thing for them is greater variety of products, speed, 3-5 days, and buying from the salesperson, someone they know already. Also, if it's not delivered on time, it's free of charge. For me, the clients we surveyed said that the fact that they're buying from someone they know is very important. We will explore this in the implementation of the project. Let's see what will happen. For the time being, this is the information that I have that I can share with you.
Thank you, Peter. The next question is from Richard Cathcart, Bradesco BBI, and will be answered by Jean.
The question is: Can you comment on the competition? Do you have any competitors leaving the market? Do you see a reaction from competitors who are losing market share to you?
First of all, good morning, Richard. Thank you for the question. In relation to what we have seen in the market, as we mentioned, the market is being very positive for us. It's construction material that became popular. People are staying at home because of the pandemic and are revamping their homes. Also, people have more income because they're not spending their money outside the home, so they have more income available. Right now, we're also having a benefit. The market as a whole is having a benefit because of a better macro environment due to the good performance of agribusiness, cattle raising, and these are important in these cities. It's a market that is growing.
When we look at the market data and from populational growth and so forth, it's a market that is growing, especially for construction material in retail. These 35% of same-store sales that we delivered and 45% growth since the market is growing. The pie is larger, and we have a larger piece of the pie. This doesn't mean that local competitors are having less billing in relation to past year. They are also benefiting. They have a little growth. They don't all have the same growth as we do. We're not seeing stores being closed because the market is still positive. They are having a benefit right now, but with our strategies, we have been able to take advantage and increase our market share even more.
This is what we have seen, and also this is what we expect in the next quarters, more positive scenarios than we had imagined at the end of last year.
Thank you, Jean. The next question is from Bradesco BBI and will be answered by Jean. The assortment, the strategy on assortments. When will we see the perception of consumers concerning this?
Truly, as Peter mentioned, we're investing the phygital sales. We are implementing this, investing in a showroom, and it will take some time. As Peter mentioned, if Peter wants to supplement, we will have to make this pilot test in the 60 stores to see what we have to improve with new products maybe. Our initial perception is that, yes, this additional assortment SKUs will be well-received. This is what we believe.
We have to wait a little more to have a better vision, a better idea of the potential, and how we will do this implementation in all the stores next year. If Peter wants to comment.
Well, as I said previously, Richard, thank you for the question. It's very difficult to talk about this now. We believe that it can be a success, but I may be here next year saying, "Look, it didn't work." It's a possibility. Clients don't want as much as we thought they would want. My expectation is that it will be slow, gradual. It will grow gradually, slowly. We will begin with 60 stores, and these stores will begin to sell more and more. We're not going to double, triple sales in stores. We will grow slowly and during the whole year, during all of next year, and I will explain to you the evolution.
I'm not expecting a great growth immediately, even in these 60 stores. It's going to be gradual. It's going to be slow. I've been in the company for 12 years, and we've seen continuous growth. We have grown continuously. It's constant growth during the years. We haven't seen a growth in leaps. Another idea leaps. No, it's continuous growth. We have growth that will come with the stores we have opened. We have continuous growth of these stores that we transformed to phase I, phase II, phase III. This is the growth we should expect for the time being, Richard. It's difficult to say how much we will grow based on this initiative. When I presented the plan during the IPO, we didn't have it yet, and we had a growth, we showed a growth that would be attractive to investors.
If we can deliver more than this, we're going to be very happy. For the time being, it's risky to say this, and I tell you, it may happen that it may not work. I believe it will work, but I don't want to come here next year and say if it doesn't grow very much, I don't want you to be disappointed with this. Once again, there is a learning curve, and we will grow gradually with everything we did. We had more construction in construction phase I, then we learned, then phase II, we learned phase III. We had three stores, now six this year, another 20 stores. It takes years. We do this one year, we learn, we improve, and then we take off. It's not going to be a quick change, a rapid change.
Thank you, Peter.
The next question is from Helena Villares from Itaú BBA and will be answered by Peter. The question is, in relation to the pilots of the new projects plus construction, can you share with us more details? What were the main things you learned? What are the next steps for the initiatives, new initiatives?
Okay, Helena. Thank you for the question. Well, I mentioned to you, I'll talk about more construction phase III. We invested a lot in phase III. We have a greater variety of products, of floor tiles, metals, wall tiles, and paints. We had a significant growth in these categories. Once again, six months learning, then adjusting, and now we're transforming 20 stores. What did we learn? One of them is that in paints, we need professionals that are already working with paints in these cities.
Bringing some of these sales people that work in other companies and have more experience is important. Curtains in the stores. The client wants to touch, even if it's a small piece, and talking to vendors about this, to suppliers, ceramic tiles or vinyl, we need to have small samples so clients can touch. This we will have to improve. We will have to do more. This is one of the learning points. I can share with you this. Concerning the expansion of more phase III stores, I believe we have 20 stores, and we have another 100 that we can transform from more construction two to three. We will transform 20 stores. We have to remember that we need space. Sometimes our store doesn't have space to expand.
Some we can expand, others we have to wait and find another location or a piece of land where we can build a new store. This is a limiting factor also for these transformations. I believe that in the next three years, we should have 100 stores. In three, four years, 100 stores from two to three. We will test this. Maybe we will start a new phase IV. There is a lot of space to grow in these cities where we are present.
Thank you, Peter. The next question is also from Helena Villares, Itaú BBA, will be answered by Peter. An important point that you raised concerning expansion is recruiting and training managers. Going into new regions, how are you evolving in terms of training in the new regions?
Helena, thank you for the question.
I remember at the time of IPO, I said that the variable that I was concerned with would be the quality of the new managers. The results come from managers. A good manager that has a good team, that knows how to form a good team, will grow. This is my concern, leadership, capacity of having a good team in each store. I can tell you I'm very happy. We don't have this problem. One expense that is above our budget is training and preparation of managers, and I believe that this investment has been very good. Today, we have 421 people with potential to be managers. At the time of the IPO, it was 240. In a year, we have 431 people with potential. For the next three years, I'm happy.
If we continue this way, we will always be able to open the number of stores that we have in our plan. What I can share with you, which is very good, is that more and more, these new managers, the new stores, are giving us better and better results than they had in the past. When I tell people that the 50 stores we opened, we analyzed the payback, and payback in 28 months. There is so much competition between the regions to see which store will be better after one month of opening. I'm even concerned they're selling really too much, these new stores. In Paraná, it has been a fantastic success. Cities with 20,000 inhabitants, even 15,000 inhabitants, sales are very good in these new stores, and this should guarantee sustainability in terms of the payback and ROIC of almost 40%. We're okay.
It's been very well. The quality of our managers is very good. The whole team that prepares these managers from our human resources area and the areas involved in training, they're doing very well. Don't know if I answered your question.
Thank you, Peter. We'd like to close the Q&A session. Thank you for the questions. Now I'd like to pass the floor to Peter and then Jean for their final comments.
I can tell you that we had a good quarter. We continue to grow. We are striving to growth. The whole market is growing. It's not only us that are growing. We're gaining market share. We have a very committed team, the team that is very committed, and suppliers are also impressed with our teams, their motivation. I believe this was shown in the exercise we made, Great Place to Work.
We had an excellent result for the first time, this said by the people in Great Place to Work. The team is very motivated, a very competent team. I can tell you that in spite of Peter, the company is having excellent results. I'm very, very happy with the team I have, the quality of the people in Lojas Quero-Quero. Very happy to be a member of this group. This is what I had to say. I thank you for the support, our council, and the investors. Thank you.
I'd like to thank all the participants and reinforce, as Peter said, we had very positive results in Q1, Q2 above our expectations. Even now, the market is positive, but we see results in growth very similar to previous semesters and quarters. Now even more positive and we're available. All our team, Investor Relations team is available.
We'd like to say that the results are on our website. This webcast will be made available on the website. We wish you a good week and good health. Thank you.