Good morning, and thank you for standing by. Welcome everyone to Dimed's teleconference call to present and discuss results relative to Q2 2021. We would like to inform you that this event is being recorded and will be made available at the company's IR website, and that all participants will be connected in listen only mode during the company's remarks. After that, we will start a Q&A session. By that time, further instructions will be provided.
Before moving on, we would like to remind you that forward-looking statements made during this conference call concerning the company's business outlook, financial, and operating targets and projections are based on beliefs and assumptions on the part of the company's management, and also on information currently available. Forward-looking statements are no guarantee of performance. They involve risks, uncertainties, and assumptions as they refer to future events, and therefore depend on circumstances that may or may not materialize.
Investors should have in mind that general economic conditions, industry conditions, and other operating factors might affect the future performance of Dimed, and thus lead to results that will differ considerably from those expressed in these forward-looking statements. Here with us today, we have Mr. Julio Mottin Neto, the company's CEO, and Mr. Antonio Napp, the company's CFO and IRO. I would like now to turn the conference over to Mr. Antonio Napp, CFO and IRO, who will start the presentation. Please, Mr. Napp, you may carry on.
Good morning. Thank you. I would like to thank you all for participating at our earnings call. Welcome, really, everyone. In the second quarter of 2021, we are very satisfied with the great numbers that we have posted. This is a moment where we are accountable and we assess all the commitments that and we offer our shares in July 2020. Without exception, we are in line with all those objectives and commitments. On slide two and three, you will see examples of that. This has been a period during which the company reached a record level of sales at 28.9%.
That growth was followed once again by a gain of market share across all states in the southern region, reinforcing our leadership position in the region. Our gross margin stayed at high level, reaching 30.2% at Panvel , a growth of 1.4 percentage points over last year, resulting from our right strategy of increasing medication inventories, service sales, and an increase of our private label. All that sales growth translated into higher results, numbers.
Our EBITDA reached 4.8% in the quarter, up 107% from last year, and our net income reached 12.9%, a growth of more than 240% over 2020. Even considering the comparative basis is weaker in the second quarter of 2020, there is no doubt that those indicators are very healthy and make clear the quality of our operation. We cannot forget that this growth also happens at a moment where we have a strong acceleration in store expansion and as we transition to a new distribution center, which is larger, more modern, located in Curitiba, São José dos Pinhais. It is also worth mentioning the clinic share and services share, which reinforces the role of a drugstore as a health hub, and also a highlight of our digital that grew 61% in sales.
A healthy growth of 0.8% compared to the first quarter, even as the in-store flow increased significantly. Another indicator that makes us all very proud is our NPS, it reached in June, the highest NPS level in our history at 80 points, a growth of over 4 points when compared to the first quarter. Putting the client in the center is the basis of our decisions, and Panvel is the only one that can combine a sales growth, digital and physically, geographic expansion, and high level of satisfaction. Because of that, we are sure it will be growing in a very robust way in the coming quarters. Last but not least, we closed the conversion of our preferred shares into common shares.
We are at the final stretch of migrating to the Novo Mercado and over a quarter to reach the highest governance level in the Brazilian stock market. We will go back to that as we get closer to the presentations. Moving on, when we talk about all the deliveries of those commitments, I would like to reinforce that this is not a surprise. On slide number four, we have how consistent Panvel has been throughout the years. When you look at the following indicators, gross revenue and average store sales, we have seen growth of 12% and 7% respectively, as you can see on the chart, way higher than inflation. This is a company that never had a loss throughout its history. It is over this track record that makes us all very confident in our capacity to execute those plans.
Talking about raw sales on slide number five, reinforce the exceptional performance of our sales in the second quarter. As I said, we grew by 28.9% compared to last year. That strong growth was driven by several factors that I would like to highlight. The resumption of in-person clients that grew by more than 35% when compared with last quarter. That is extremely robust and healthy. The average ticket did not fall. Actually, it grew a bit, which reinforces the concept that our growth strategy entails is well aligned with digital and physical efforts. I would like to highlight the very important role of services in that there, especially vaccination and COVID tests, which increased its share in our retail sales as well. When we look at growth of same-store growth and mature store sales, also strong performance.
We saw a growth of 19.9% in same-stores growth and 16.7% for mature store sales. In addition to that, we continued with our objective to increase the average sale per store. In the second quarter of 2021, we grew more than 17% when compared to last year. According to official data, our average sales grew more than the whole market in the southern region of Brazil. You cannot forget that we have reached that objective even as we opened 20+ stores in the second quarter. Of course, it is easier to grow if you do not open other branches. But it is not our case. If we were to exclude those stores, our average sales would have grown more than 20%. Speaking of expansion, we continue to expand, and the idea is to open 65 stores in 2021.
We resumed the second quarter this fast pace of 20 openings, and this should be expected for the next quarters. We are very happy with the ramp-up of all stores, and that makes us confident that the company's capacity will prove itself as it executes its growth plans. In the third quarter, we will reach a historical level of 500 stores, and I am sure we have a long way to cover. We started our new CD operations in São José dos Pinhais in Paraná, and we completed our operations in the city of Passo Fundo in the country's area of Rio Grande do Sul. Now we have two distribution centers, which are state-of-the-art in Porto Alegre and Curitiba. That will assure us an excellent level of service to all our current stores and the oncoming stores as well.
As a direct consequence of that growth in sales and physical expansion, on slide eight, we can see that the regional market share continued to grow, reaching 11.8% in this second quarter. An evolution of 0.7 percentage points when compared to 2020 and of 0.2% when compared to 2019, which makes it clear that our market share gain is consistent or has been consistent throughout the years. In addition, that market share gain happened across all our geographies, all of the states where we operate. I'd like to highlight also that we continue to have an enviable market share on the digital front as well. We have reached 42.2% of the market. Speaking of digital, moving on to slide number nine, our numbers make it clear that Panvel continues to be a benchmark for the pharma market in Brazil.
In the second quarter of 2021, the footprint of online sales reached the level of 16.1%, an excellent evolution when compared to the first quarter of 2021, even with an increase of the in-person client flow. We can see that it has been balanced across all states of the southern region, whereas in São Paulo, we see our share coming close to 50%, very much in line with our strategy, which is more focused on digital when we talk about São Paulo, the capital city. All that sales growth is linked to the quality of our delivery, our last mile delivery, one of our main concerns. We have, without a doubt, the fastest delivery in pharma retail in Brazil.
One-third of our deliveries happen in up to one hour, and that level of delivery is not higher than that because a significant part of our clients want to schedule the delivery. So they define the time of the day when they want to receive the products. We do all that with a high service level of 97%, another enviable indicator. We count on a structure of 130 stores and eight mini DCs, our stores. Not to mention our click and collect possibility, which is present in all our stores. It's not for nothing that we have been able to reach those indicators. With several years of investments in IT and processing, we were the first pharma operation in Brazil to use the omnichannel concept across the whole network since 2015.
Lastly, closing this virtuous cycle of our digital strategy and physical strategy, we look at our customers' satisfaction level, as we have shared with you on slide 10. Here we have gathered the main KPIs of service. We have been monitoring that on a constant basis. For example, we have those panels monitored on a weekly basis, and we are very proud of our teams because of their levels of satisfaction we have reached. Our NPS reached a record level of 80 points, a growth of 40% when compared to Q1. That growth, and it's important to say that, happened across all our channels, physical stores, the app, website, and so on. We have the best assessment in the pharma retail, have reached the score of 8.8. We are the best assessed app, both at Google and App Store.
In the second quarter, we also are awarded by the Top of Mind as the most remembered drugstore in the south of Brazil. That's in our DNA. For that, we continue to invest in digitalization of our operations and of our clients as well. We get to learn their consumption habits, and with that, we can offer more personalized offerings. We continue to invest in the expansion of our health ecosystem, where the drugstore will become a hub for health solutions. When we talk about health ecosystem, we're talking about our Panvel Clinic. There, we are positioned to capture that change in consumption, where we have now clients seeing drugstores as a health hub, not only a place where you can buy medications. On slide 11, we have numbers to prove that. It becomes clear throughout the second quarter, we continue to expand our vaccination rooms.
Have reached 286 rooms for the Panvel Clinic hub. Over 100 services provided in the second quarter. We have maintained our position as leaders in vaccination in the south, reaching a market share of 39.9%. We have administered over 250,000 vaccines in the quarter at a growth of over 300% over last year. On top of that, the amount of quick tests administered continued to grow, reaching over 250,000 tests in the second quarter. We have maintained our leadership in the South with a market share of 22%. I'd like to remember also that Panvel was a pioneer in making partnerships with the government in terms of COVID vaccination. Over 60,000 COVID vaccines have been administered through the end of June. This number will grow throughout the year. All that excellent work resulted in an increase of the service share in our sales overall.
In the second Q 2021, we have reached a record level of 5.4% coming from services, a landmark in the company's history that really transforms, in reality, our mission to provide health and wellbeing to our clients. Of course, I'd like to reinforce that as well, that the seasonal nature of services for drugstores might bring about some changes, some variations throughout the next quarters, but we have no doubt that this growth avenue is here to stay, and we'll continue to invest in more rooms and more services to our clients. Moving on to slide number 12 and closing our comments about sales. We reached our Panvel private label products, another important pillar of our strategy, both for brand and for gross margin. Panvel is the only chain where our clients can buy the brand.
In the second quarter, the private label share reached 7.4% in total sales and 19.5% over our personal care products, remaining as a benchmark in Brazil. That number proves that. The chart shows the success of our strategy across this last decade, which has aligned a strong sales growth and market share growth, and also a growth in gross margin for those products. That is why with over 840 SKUs of our private label, they are, without a doubt, a fundamental pillar for us. I would like to remember that about 30% of those products are made by Unifarm, our industry arm. That verticalized strategy ensures quality and ensures good margins across all our private label operations. Slide 13. I would like to leave you with a few images of some of our launches. Now moving on to slide 14, gross margin.
We can see a clear evolution of our gross margin. This was one of the highlights in the quarter. We have grown 1.4% when compared to secind Q last year. This good result was driven by a very efficient strategy in terms of buying medications, pre-adjustment, and increase in sales of services and an increase in private label sales. When we look forward, removing seasonal effects, be it from the pre-adjustment of prices or services, there is still a good outlook for the company's gross margin as we evolve towards our project, towards increasing generics sales, and the evolution of other lines linked to convenience and personal care. As we move to slide 15, the best leverage also allowed a good dilution with G&A expenses at 0.9% when compared to the second quarter of 2020. Our administrative expenses grew a little bit, but totally in line with what is planned.
We will continue to reinforce some strategic themes in technology, CRM, and others. Of course, it would be easy to generate more results in the short run if you were not to invest more, such as logistics, IT, and expansion. Our view is very clear of where we want to be, and we are in line with the planning which we have put together. It is important to reinforce that cost control continues to be part of the company's DNA. When we analyze our productivity KPIs, for example, employees per store, which is shared with you here on the slide, we remain as a benchmark in the market. When we analyze our G&A, we also have the best percentage in the market, in the sector. Well, after talking margins, expenses, and sales, we get to our results.
We had a very strong growth in our EBITDA of over 170% when compared to last year, 4.8% of our gross revenue. The result was above what we had planned. Even with the comparison basis, which was weaker in the second quarter, we cannot forget that in this quarter, we were able to accelerate investments, opening stores, investing in technology and logistics. Having reached this result makes us all very confident as we look forward. When we analyze the retail EBITDA, it becomes clear how consistent we are in terms of store operations. Retail EBITDA grew 1.2% when compared to 2Q 2020 and remains very much in line with the previous quarters.
In other words, even though we are accelerating the store opening, as you maintain consistency in results, that combination is an indicator of our success of operations, both for our existing stores and the very good ramp-up of new stores. In line with everything that was said before, we also saw a record growth in our net company income, which reached BRL 34.2 million, equivalent to 2.9% of revenues, a growth of more than 242% when compared to last year in terms of net income. In a very consistent manner, we continue to position the company as one of the most efficient pharma retail companies in Brazil when compared to market. I'd like to take the opportunity to reinforce our thank you to all the team who's worked hard to deliver those numbers, always with a focus on the client.
Now, talking about our cash cycle, we're going to wrap up this number-centered phase. On slide 18, we can see that our cash cycle has already started its normalization process, especially in terms of inventories. Inventories, when compared to a peak in the first quarter, have already dropped by 17 days, a significant decrease. That will continue to be so as we've been through the pre-adjustment purchases, and we are also past the transition in our distribution centers. That's all very much in line with our planning, and throughout the second half of the year, we'll resume normal levels for our cash cycle. So wrapping up the financial numbers part. Now we're going to be talking about our vision going forward, a bit of our strategic pillars, what we have in mind going forward.
As we have been sharing with you as of late, our strategic pillars translate our actions, materialize our actions. They are focused on digital health system, CRM, new stores, private label logistics. In this year, we have officially adopted ESG as a strategic pillar. I'd like to start this chat talking about physical stores and expansion. It's nothing new that physical stores is, and will continue to be for a long time, the gravitational center of the business. It's the main pillar of them all. Be it for its convenience, be it for the support, for the last mile, for experimentation. All the CAC, the cost of client acquisition, is also lower. So to be able to successfully expand directly is key to make all the pillars successful. We have a well-defined plan to expand in the next five years, focused in the south of Brazil.
For 2021, we are quite comfortable to say that 64 stores are duly prospected and in the pipeline. We're also working for 2022 with 50% of the prospecting already done. The idea is to open another 65 stores next year. On the same slide for 2021, I'd like to highlight the great economics that we've had for the last stores opened. If we analyze the 2018, 2019, and 2020 in terms of returns, the ROIC and EBITDA numbers, they are very much in line and looking very good. For 2018, 2019, for example, have already reached an average EBITDA in a very short period of time. We have seen that those new stores are bringing results in even shorter terms. The last stores have reached 80% of the average sales of the chain in less than 12 months. Those numbers reinforce the trust in our execution of expansion.
That strategy is also addressing the expanded middle class. Popular stores are a new thing. They account for 25% of our expansion this year, 2021. If we were to consider that our standard model, which accounts for the other stores which open as a hybrid model, servicing different clients, different publics, it is clear that Panvel is doing their homework really well to increase its reach across different social classes. When we have the physical store as the central pillar from which services and products and platforms are connected, Panvel continues to evolve in its digitalization journey. We are following our roadmap with several deliveries have already been done and many yet to come. We have a challenge to remain ahead of the market, either offering the best solutions and the best quality of service.
That's a very important point for us, the best quality of delivery. For example, we have evolved this year across our website, panvel.com. We have updated technology so that it can grow faster. We are investing heavily in several UX improvements at the website as well, and also in our search tool, always focusing on making consumers' lives easier when they need the most. This year, we'll be launching a renewed website and a much better app. Another important product is the long-tail project, from which we will offer a higher number of products from our CD that may be accessed by our clients through the store or through our digital channels. This is just the first step of our marketplace concept within Panvel. That's a project which is still ongoing and will be launched officially in 2022.
We are quite optimistic with the potential of bringing new sales and increase the consumption basket for consumers in the health and wellbeing front. Something we cannot forget, even if you have the best technology in place, the quality of the last mile delivery, it remains key to make a difference. It's no use having a very good marketplace and e-commerce if you cannot assure a high level of service and a fast delivery. That's what we have in mind, and that's what's basing our marketplace project. We're being very careful and paying attention to all details. Speaking of marketplace, you well know that Panvel has its service marketplace, the Panvel Clinic. We strongly believe, as I said, that the drugstores have changed in the eyes of the consumer.
Drugstores have become a health hub to offer quality services, as also directly linked in our mission of offering health and well-being solutions. We are quite focused within Panvel on digitizing, increasingly our services, so that marketplace will be physical and also digital. With a higher relevance of the operation, we continue to focus on bringing more options and a higher menu beyond tests and vaccines where we already lead. For example, we already offer a very wide range of remote testing, genetic testing, home care services. Panvel was also a pioneer in the online sales of vaccines and tests. We are also launching a new innovation, the sales of all our drugstore products through WhatsApp. We have no doubt that the addressable market for drugstores has increased, especially for prevention, and we are well-structured to face that.
All those services and many others that will come will play an important role as they bring more flow and a higher recurrence frequency to our physical and virtual stores. Clients do recognize that the Panvel brand speaks directly to health, and that's a strength that we have, and we'll be using it increasingly. I'd like also to highlight another operation that we have that gained a reinforcement. The special medication services. Panvel already leads that market, right? We have just invested in a new structure with the objective of getting closer to health insurers. Here, on top of selling products, we also offer complete monitoring to all patients, ensuring a better life quality and a control of MLR. Special medication is part of our health hub strategy and will strengthen the partnerships we have built and strengthen the upcoming partnerships.
It will bring us even more revenue streams. On slide 24, I'm talking a little bit more our clients through our relationship programs at Bem Panvel. For the last 2 years, we have been investing heavily in data science analytics with a focus on understanding clients, increased loyalty, and of course, always respecting data protection practices. The results are becoming increasingly clear. A base of over 11 million customers, all duly identified and categorized. Today, we have at least several categories of consumption within Panvel, and an important way to follow all those journeys, especially customer journeys, for those who have chronic diseases. Here we are applying concepts which in theory are very simple, but that require a very detailed data treatment, such as a reminder to buy medications, which is available at all our contact channels, including in the physical stores.
That near action when a clerk receives a message and reminds clients that they need to buy a medication, has a conversion rate of over 25%. Also, as we focus on digitizing services, as we digitize the client journey, we have just launched our 2.0 offering, a discount coupon. It goes beyond personalized offerings. It creates the possibility of providing a digital world for coupons. That's only natural, of course, it's organic, for a customer journey. That journey, a customer that uses the app, the site, and the physical store to buy their products. We're quite focused on their products, which materialize one of our main objectives, which is to increase the number of hybrid clients or omni clients, those who buy both in person and remotely. Those are the clients that have the highest frequency and the higher average ticket.
The efforts to digitize the processes are linked with those numbers, and you can see the potential is tremendous for growth. Now, moving on to the end of the presentation, I will share updates of our ESG. We are quite proud to have launched in this quarter our ESG platform called Tudo de Bem. On slide 25, you can see two QR codes which will lead you directly to the platform and to our manifesto. The company is deeply engaged in the four fundamental pillars, which are: our people, which looks at our employees, our clients, where we gather actions towards data privacy and data protection, our partners, where we reinforce our responsibility of bringing ESG to all our stakeholders, and our home, where we look at our planet and the environment.
The Tudo de Bem platform gathers initiatives which were already part of the company's DNA and brings along other targets for the next 5 years. I'd like to invite you all to please visit our platform through our QR codes, which can be seen on the slide, to get to know more about our ESG commitment. Then I have some more examples here on the ninth slide, with the fact that the Dimed Group has always addressed social responsibility items with a lot of responsibility. We are a very inclusive company, have been so for a long time. For example, women leadership position is a known thing here at the company. We hope to maintain that with an increasingly diversified team. Currently, women account for over 71% of management positions and 30% of directional positions.
Another inclusion indicator is that 90% of our leadership positions are occupied by Black or Brown employees. That's above the average in Brazil. As in terms of renewable energy, I'd like to highlight investments and renewable energy sources, which feed 40% of our stores. Our objective is to reach 100% of our stores using renewable energy sources until 2022. What's new here is that we're at the final phase of building a new photovoltaic plant in our head office in Ribeirão Preto soon to feed all our energy needs for our offices and our CD, the largest car park plant in the state and one of the largest in Brazil. To continue on that ESG, we're going to be focusing on the G, governance.
The company is now finalizing the most important step in terms of governance evolution, moving to the last stretch of the migration to the Novo Mercado. That was a very important commitment we took on since our offering. On the 19th, on Thursday, next Thursday, we'll have another shareholders meeting to approve the election of a new independent board member and of the last changes in our bylaw. The migration is scheduled to be completed in August. We have then closed our presentation now.
We are very happy with the results we've reached in the second quarter of the year, and we maintain a very optimistic outlook for the second half of the year. We'll continue to work strong in growing sales, and we'll follow our strategy to expand both physically and digitally. We'll also start periodically reap some benefits in terms of activity as we open our new CD in São José dos Pinhais. I wrap up this phase by thanking you, and I remain, myself and Julio, available to questions you may have. Thank you.
Thank you. We'll now start the Q&A session. To ask a question, please star star nine. You can also send your questions over webcast. Just type in the question on the left-hand side of your screen and then click on send. Mr. Gabriel Simões from Itaú BBA would like to make a question. Please, Gabriel, go on.
Julio, Napp, thank you for the presentation. I have two questions. The first has to do with the services front. We saw a very sharp increase in services sales. If you could give us some more color on the size of the potential, the footprint that you see going forward. I'd like to understand a bit of the economics of sales of services. How do you see that as a contributor to the revenue going forward in terms of margins? Or that you also expect to see a higher frequency because of that?
Number two, market share. You saw a very significant growth in market share sales. It would be nice to understand how you see the competition. That market share you are gaining, where is it coming from? From independents, chains, larger chains. So a bit more detail on your market share gain.
Thank you. Okay, Gabriel, thank you for your questions. I will start by talking about services. As I said, our view on services is very positive. The economics are important, of course, but we try to make a few differences. For example, when we look at vaccinations and testing, we are talking about services that have a very interesting growth margin. They also have a very strong seasonality factor. But because of new habits, we expect them to remain strong in the coming quarters. Maybe slightly lower than now, but they should remain strong.
We look at the services strategy as something that will bring more revenues, especially when we talk about testing and vaccination, COVID testing specifically. But in the future, other tests will be able to be performed. But as you said, Gabriel , the services within the stores, those services is also important to bring about recurrence and frequency, both physically and remotely. And we believe that is important for the sales of products so that we can increase our average ticket and the basket.
Our service strategy is based on the growth of revenue and also the growth or an expansion in recurrence. Because of the seasonality, we will see a share of services, which will probably be lower in the third and fourth quarters. But as I said, they should remain relevant in terms of share and helping with our final results. As for the market share and competition, when we talk about the data and we look at the market, the market share has been growing, both coming from independent and from larger chains. And as we have said before in other earnings calls, and of course, respecting all our competitors in the region and our competitors across the country, what we see is that the competition in the pharma market has remained as it has always been, a very fierce competition.
There are hundreds of thousands of drugstores, but the market is also huge. And we are growing, expanding that market, becoming more competitive. We have a very strong brand in the South, a very well-known brand. And that is why we believe we still have features that sets us apart, both in our chain, in our brand, that will ensure our footprint will grow in the future. And that market share gain also comes from the fact that the company placed a very strong focus on execution. So we are removing any potential distraction that will move us away from our focus. We want to deliver stores in the best locations possible. This year, we still have a higher participation in the South, but starting next year, the share in Santa Catarina and Paraná will become predominant.
We have also been working hard to control our inventory so that we have an increasingly better service levels at the drugstore, and that is key both for consolidation and for growth. People want to have a drugstore with a high service level. And of course, people development. For us to grow, we need to have talent, we need to have people. So we have been working hard to develop more talent. I think the avenue that other chains, not only ours, but all the good pharma chains are investing in e-commerce. Some habits have been adopted in these past years because of the pandemic. The digitalization wave will be better ridden by those chains who got ready for that. So irrespective of our physical expansion, we have not stepped back. We are continuing to evolve our data, our platform. We have a new app to be launched or relaunched.
And we, of course, we constantly invest in logistics. That is the main pillar of our e-commerce strategy. Nobody delivers as fast as we do and with such a high service level as we do. And when I say no one, I say no one in no industry. We deliver, as we said, in up to an hour, or they can schedule their delivery. So we are very efficient in terms of logistics, and that is one of our main strengths, and we will continue to invest significantly on that. In terms of innovation, the idea is to maintain self-service high as we move forward. So there are three very important projects going forward. One is data management and our larger footprint across chronic and continued use medications. We need to increase the recurrence factor in our stores.
Health hub is also important. But there are a few distractions we need to pay attention to. The priority here will be to digitize services that we do conduct at the store so that clients might be able to buy and use those services in a very seamless way. That is number one. And number two, marketplace. The marketplace, we have been a very solid strategy. We have been something we already do in terms of e-commerce. We are now at 16%. We do see potential to increase the number of SKUs made available to clients.
Of course, we are being very careful, and we are so that it will not affect our NPS of our number one focus, and I made it clear, is on delivery. Our value proposition sits around being the best drugstore chain in terms of execution with the best private label products. That is a very fundamental element as well in our strategy. And being the best will lead you to get more market share. If we are able to grow and to continue to execute in an excellent way as we have been doing, I am quite sure that the market share gain will come.
Okay. Thank you for your answers.
Thank you, Gabriel Simões.
Once again, to ask a question, please press star nine. We now close the Q&A session. I would like to turn the floor back over to Mr. Napp for his final remarks.
So everyone, once again, thank you on my name on behalf of the company, Julio. We are quite satisfied with our deliveries in Q2 and quite optimistic to the remaining of the year. Once again, thank you and have a nice day, everyone.
Dimed's conference call is now over. We would like to thank you all for participating, and have a nice day, everyone.