It was a good quarter. So it's a pity to have this hiccup. It was actually the best quarter ever when it came to revenues, which were ending at NOK 2,700,000,000 which was an up 4% for the growth after currency adjustments spearheaded by collection solutions. So really a strong performance. And if I may say so.
A good ending of this difficult year with a pandemic. Also the earnings came in strong. That partly helped with the revenue growth by solid gross margins predominantly driven by improvements in collection and good operating expenses or cost control. So earnings EBITDA moved from 408,000,000 Norwegian krona up to 505. And on the operating side, I'd like to say I'm very pleased with How did the entire team of Tomura has managed this.
We have had a difficult period. We had Significant reduction in activities in the beginning of Q2 last year actually starting in the Q1 but then really culminating in the Q2. We have had challenges to travel. We have had challenges to be together to operate and a lot of people have been forced to work from home offices. And the whole culture, the whole spirit to keep this alive and continue operating to serve our customers, To make sure we could produce machines in time is something I don't know how to describe.
It's just almost like, if I may use the word miracle, that is When it comes to operating expenses, we have, of course, the spend. We have had hiring freeze. We have held back on investments but we have not blocked the long term strategic initiatives. We have all the way seen as the pandemic is a temporary event temporary challenge. But we do believe that our core strategies when it comes to building a circular economy when it comes to equipping countries to support DRS systems when it comes to sorting plastic metals and digging out minerals or when it comes to sorting grading food.
We see that the demand is going to be coming back And it's critical for a society development going forward forward. So therefore we have been very cautious in Holding back on on tactical expenses that we could do without harming the long term also catering for that we have maintain the workforce in place so that we have these people which we will need when we see the acceleration coming back because we are convinced there will be an acceleration. So just wanted to emphasize a little bit on that area where I think it's worked well. The whole attitude the whole planning the whole response to managing costs in this period. Some costs came automatically down like traveling like marketing like exhibitions.
But all in all it was a balancing effect that the whole team had to support And they've done so wonderfully. Also great cash flow all time high ending at 890 up from 600,000,000 last year. So that's that's all in all good. The area we have been a bit worried about in the last year was Definitely the order intake both in recycling and in food different dynamics. I will talk more about them late Later we saw towards end of the year for both divisions and uptick.
So really in the Q4 towards the end of that We could see an improved momentum and there are signs that the situation is improving. And that's obviously very important going forward. The board of directors at the latest board meeting have recommended a dividend of NOK 3 per share which will then be decided on the annual general meeting. With that on the next page. I'd like to talk a little bit deeper about collections.
So Inside of this graph here, you can really see the collection activities, number of Objects being collected bottles and cans throughout the entire 2020 and comparing that then with 19. So you can clearly see in the end of Q1 and in the beginning of the 2nd quarter order to large degree in the Q2 we had major disruption. If you look at the Light blue curve there which represents North America. You could see we have a significant dent there almost down 50% as It's worse. And also Australia lighter down quicker recovery but also there a disruption.
Europe you can also see here has been trading fairly flattish throughout the period. So no disruption. And we know this with these facts behind because every item being collected is registered in our machines online and instantly. So we had this access to data all the time. So this is our cockpit so to say to see what's happening out there.
So Europe was really stable here throughout the year. And if I look into the quarter Europe was also strong towards end of the year both due to high activities in Northern Europe where we also launched a new technology are 1 where you can you don't need to feed every object 1 by 1 but you can empty whole container or bag into the collection zone there. Higher speed. Higher convenience. It's been extremely well perceived.
And we have launched that successfully now in a number of stores in the northern Europe. And we will continue going into other markets with that of course. We also had good development in Central Europe driven partly in Holland by the deposit expansion there. I will come back to that shortly. But also German market was strong.
So all in all Europe good in the quarter Good in the year and very stable situation. North America as I said before First to Q2 as you can see on the graph back to normal very stable. I'm very pleased with that. And Australia very much the same. We have a slight growth there since the systems are fairly new.
But in general we can label that as stable business. So business as usual. And as you can see as of the 3rd and the 4th quarter absolutely stable. And that's very reassuring for us since also especially collection makes out about 50 percent of the Tomura Group. Let me then talk quickly on the right side Side of this page here the new deposit markets.
It's quite a pleasure for Tom Keene people to look at what's ahead of us. Never ever in the history have we had so many new markets coming alive in such a short period of time. And hopefully that is also a reassurance confirmation of that. The European deposit legislation is starting to take effect. And we see moments.
First out is the Netherlands already mid next year. We will have expansion of the existing systems where we will have small bottles Plastic bottles being included in the system. So that will drive activities in the beginning of the year here. Then and end of next year we will also have cans included in the system. So that would be exciting.
So Netherlands will now see over quite a long period of time high activity levels I assume. Slovakia will introduce a deposit legislation as of January 2022. So that's moving on here now. The same with Latvia February 2022 And then Scotland July 2022. So within rather short period of time we can hear with big confidence talk about for new markets for collection solutions and DRS legislations.
If I then move to the next page, I would talk about recycling and mining. Here we are dealing with end customers like we're trying to like plastic upgrading or recycling of plastic or metal companies. We also have a small business in the mining sector. The industry has been partly challenged last year especially the metals Metal recycling and mining as metal demand has been lower. Commodity prices have been Volatile at least they have climbed up a bit later in the year but they have been volatile.
And the whole sentiment for investment in metal and mining was slow all the way. And just we started seeing a recovery in metals towards end of the year. Waste sorting and plastic recycling however has been solid throughout the year and that Actually made some 2 third out of the business. So as you can see on this orange outer layer there that indicates the size of that business in our portfolio. So that's the biggest lion's share of the portfolio.
And that has been more solid. We do see some changes here also driven by more demand for circular economy Higher legislation pushes for you know caring for waste. So we see as a result of that We also see larger projects emerging. And that in itself also leads to somewhat longer planning times more complex operations more patients more equipment coming in not only tonnage equipment of course but also other equipments like washers conveyors separators etcetera. So so we see that effect which in the long term will be positive because Tom Mack is excellently positioned.
We have Strong technology which covers all the needs. We have good ecosystem partners. We have the right references. We have a lot of know how And we have a lot of capable people supporting our customers in this regard. So so We see this kind of shift towards larger orders.
We see the time delays much driven by the fact that people cannot come together. But all in all the business sentiment has remained strong in that. And you can partly also see evidence for that on the right side of this picture. If you look at the price level for recycled PET compared to virgin PET You can see that the light blue line here demonstrates that recycled P. T.
Has a significantly higher market price than Virgin P. E. T. That indicates the demand for recycled P. E.
T. Predominantly driven of course by the bottle industry who want to create new bottles out of recycled PET. A lot of that material of coming also from the reverse vending machines remains strong. But also there you can see that the overall price has moved down less dramatic reduction than for Virgin P. T.
But also here a reduction. So a certain you know investment instability for our customers in that regard. If I look down into very important areas at the bottom right corner here we have the 2 important legislations to talk about here. 1st I start with the European Union Plastic Tax directive which is going live January 21. So it's live now.
And it says that You have to pay a Levi of €800 per ton for using virgin plastics. If you are not using plastic recycled plastic in plastic packaging material and if you go up And look at the price levels up there where you can see that Virgin P. T. Is trading just you know somewhere 89100 Europe a ton. You can see that this Levi is really impactful.
It's basically doubling the price for Virgin P. E. T. If you use that compared to recycled plastic. So so of course that will have big impact on the industry will drive the whole concept of circular economy which by the way is intention by the European Union really to create this the green deal here and starting to treat resources as the resources they are and not as waste and making full value full use out of them.
And good to see is also that United Kingdom is going in the same way. They will as of April 2022 also Introduced a similar Levi lower though it's €200 per 200 per ton. But also that is of course Significant signal here. And that applies if there is less than 30% recycled content in the material. So again we should anticipate investments to come in this sector to respond to these new legislations.
If I go to the next page I would like to talk a little bit about the food business. We are proud being number 1 in the world in food sorting grading. We are servicing both the sector what we call processed food and a sector called fresh food. And for your information there is only one company set up this way and that is Tom Rah in the entire industry in the year as we have reported before processed food was challenged. They are to a large degree servicing sectors hotels restaurants etcetera that are you know being has been dramatically affected by the COVID situation.
So a lot of Close down of restaurants hotels etcetera has challenged this industry dramatically throughout the year. The fresh business and you can see they are more or less half half in size has been very solid supported by home consumption supported that people actually have more money to buy high quality food Whilst they don't spend so much in their food services that business has been strong on a global level throughout the year. We start seeing some signs of recovery in the processed food now. Fresh remains on a good momentum. But luckily the processed food sector our customers there are seeing a recovery as they have learned to adapt to the new conditions And as some processed food activities like in the service sector also are starting to reactivate.
And I would like to talk about 2 areas here today. 1 is the potato sorting which is actually our biggest activity in the processed food area where we say that we have a market share globally about 35% to 40%. So it's an important category for us. And we have seen now a strong development in order intake in the Q4. And we have signals that this sector is starting to revitalize and come up again.
Another important sector for us is nuts and dried So we were also global number 1. We have here a global estimated market share of 30% to 35%. So it's the 2nd largest of our categories. And here we have seen also good recovery in Q4 order intake. It was low in the earlier parts of the year but I hope these two areas can signal to you that we are of the belief that there is a certain improvement in the market ahead of us.
If I then turn to the next page. This is an illustration of something really exciting. As you know, TOMRA has shaped up what we call circular economy division that we have handpicked Some of the absolute best experts within the Tomura Group to form this division. It's really to work throughout the value chain finding solutions where neither collection or sorting by themselves would go after because they are bridging where we are combining the technologies together. We have now recently opened up the facility in Germany to get this place called Zimmerman together with Borealis.
We have created a state of the art demonstration facility. This has a capacity of about 10,000 tons per year. And what we want to do with this one is that we want to demonstrate to brand owners to customers that we can produce high quality and high volume plastics beyond. It is fairly well established today But we have so many other fractions. You know P.
T. Only makes out some 10% of the overall packaging plastic packaging as a share. Polyethylene polypropylene PVC P. U. R.
P. S. And other plastics are making up the rest. And they we of course also want to address and create a closed loop circular economy system for like we have done for PET. So this facility is capable of taking post consumer waste do pre sorting of that washing flake sorting compounding and delivering raw material for production of new goods.
So this is really exciting. So our intention is really to Tracked brand owners to this facility take a post consumer or household waste running through and have dialogues with them to see that we can demonstrate that we can meet their specification their needs and also how we can work on them how we can scale up to get the right quantity and enabling them then to transform into a circular economy. This is exactly what the brand owners want to do but exactly what they had been missing in order to do this transformation. So we are really excited about this investment. And we will follow through, and I hope we'll come back to you also with some really interesting stories down the drain because or down in time, because this is really a significant signal from Tom rather we are serious about you know leading becoming a leader and leading The industry in creating circular economies as are the very far right on that page.
You can also see that we have now Successfully already tested recycling of polystyrene for food contact. So actually in this case for yogurt containers We have been able now to prove that we can produce that product. It's medically, genetically tested. It is having the right properties from a functional point of view. And it can be used now as we speak for delivering yogurt in a sustainable packaging way to the world.
With that I have come to the end of my presentation. I would like to hand over to Espen to go through the numbers with you. And again I apologize for the little hiccup in the beginning. That was entirely my mistake.
So looking at currencies on Slide 9, as always, this quarter not a very big effect So on the P and L side, as the euro and the dollar is going different ways. That said, Yes. Looking at the Quickfoods division, we have some headwind with more dollar Revenues and unless the dollar is also leaning towards the euro, that creates some headwinds. Moving to the next page on the consolidated figures for the group. As Stefan said, we are 4% off I think the quarter of SEK 2,000,000,000, SEK 742,000,000.
And it's collection that's the driver there, which is actually 10% in the quarter. We report strong Gross margin improvement, both collection and CRM are improving. And with good cost control Where we have actually down on the operating expenses down to $7.16 from $7.26 currency adjusted. We have an all time high EBITDA of 505 and also an EBITDA in margin of 18.4%, which is above our Long term financial targets. Since this is also the year end report, a quick look at the consolidated figures for the year.
It's a strange year in many ways. We have 2.5 months without COVID and then 9.5 months with COVID. But it's good to see that overall we have a resilient business and then we actually managed to end up flat versus last year on top line. And it's actually felt that, that measure on a yearly basis is improving, offsetting some of the short in Recycling Mining when it comes to the top line revenue development. Margin is stable, not only on group level, but also down on the division level.
And good cost control, cost is actually down, currency And after cost increases in Q1 and the measures and the incentives we took I have taken down the cost for the consecutive 3 quarters. So we are proud to present 2020, which on top line or bottom line is actually better than last year. Also, not just for currencies. That's Other achievements in our opinion. Moving to Collection Solutions.
Strong, actually all time high performance in Northern Europe, which is Really, our whole markets in the Nordic region and the Baltic region, as Stefan mentioned, R1 has Well received is a contributor in this region. Rest of Europe, the Netherlands It's starting to have an impact, preparing for the 1st July this year. And also, Germany And cost control, only 1% on OpEx line brings us to 96% 21% EBITA margin. For the year, Northern Europe or Europe in general is I think the somewhat slower development in North America, and we are consequently, of course, adjusting Top line in collection. North America, as you know, we are hit by lockdowns in Q2 and we lost volume in that region, which explains why we also are below on a yearly basis.
Margin has been stable, 41%. Operating expenses slightly down ending the year of €881,000,000 on EBITDA line. If you look at The next page, you see the recycling mining figures. It's the first time you see them. This has been a journey all the way back from 2,004 when we acquired TTEC.
And that was the start of the Segment, Alenigma, Comba Dux in 2006 and then Basalt in 2008. All those key acquisitions were in the cycling mining space. So All the way up in 2010, tonnra sorting was recycling mining. But then, as you know, Odenberg We acquired an 11 best in 2012. And then the compact and BBC in New Zealand, the later years, all Those 4 acquisitions were into the food space.
And through this journey, the food business through And organic growth has become a bigger unit, at least revenue wise, compared to Recycling, Mining. And Because of the size and to get the right focus, it was decided to split this internally. Michel Dickandier was appointed as Head of Food from the beginning of 2020. And Volker Hermos will continue the position ahead of Recycling Mining and also the Certainly, a common middle division. So reflecting how we look at our organization internally and providing more transparency Made us decide to just split the figures.
So now you see them. It's been also sent out First off, it changed to this Friday morning. The figures for the last 2 years broken down on quarters and geographies. For those, that's interesting to have somewhat more information about how does the performance looks on division level. So looking at the Q4, in total, FUD and TRM Came in good.
We indicated conversion ratio of 80% to 85%, and we came in at 84.5%, so high In the rates of this SEK 438,000,000 is stemming from recycling Mining. 54% Gross contribution or margin is very strong margin driven by mix effects. And also here, OpEx under control And NOK 103,000,000 of EBITDA is 23% EBITDA margin. For the year, we are down. COVID has an influence here on Metals And mining segments, in particular, have a sloper development, again, as Stefan pointed out.
But the margin development has been good, also 54% for the year. And the costs have been under control even though this unit is Absorbing the circular economy investments, which in total comprised SEK 50,000,000 this year From SEK 9,000,000 last year. So significant costs has been absorbed in these very important initiatives That we are organized under certain look on the measurements. After the COVID hit us, we have been somewhat lower on the order intake. And also this quarter, we came in at the 364 compared to 4 28% the comparable quarter last year.
And therefore, also, the order backlog has gone down somewhat that we are now more or less back from on the level we've been 1 year ago at 552 compared to 561 at the end of 2019. If we go on to the food financials, as you see, Americas is the most important region for food. But it's also differences between the segments, very processed foods So the Fresh Food business is still doing better than the process part. SEK 878,000,000 on top line, slightly down from last year. The margins are stable at 44%.
Good cost control also here. Cost is down to €54,000,000 on operating expenses, Brings us to 132% on the 15% EBITDA margin for the quarter. For the full year, Yes, actually managed to increase activity despite the challenges and the year over Slightly about SEK 3,300,000,000 on top line. Slight improvement in gross margins and then good cost controls Makes the EBITDA margin increasing from 9% last year, currency adjusted to 11% this quarter. And The order intake is picking up after 2 weaker quarters.
We are happy to see We are now at 865 and almost back on the level we were before COVID, which was 905. And consequently also we see a small uptick in the order backlog, which is 9.18 compared to IH-891 on the same quarter last year. The conversion ratio, meaning the assumed Orders to be taken to P and L or the revenues in the upcoming quarter compared to the current backlog is 70%, seven-0 percent. And for TRM, the same figure is 60%, six-0%. As always, it's not intended to be guiding.
This is just for those that want to model us on a quarter basis, giving you indication on Next page, The balance sheet and the cash flow, we have rather strong balance sheet. The dollar has increased 6% So in the euro, it increased 6% and the double 3% from measured from the end of 2020 versus 2019. So consequently, The balance sheet has grown somewhat because of currency. But if just for that and you get the For the high line items, you will see that we have a positive development on the working capital, particularly inventories now. So the net currency adjusted assets part of the working capital is down and in particular the accounts payable part on the Reported on noncurrent interest bearing sorry, noninterest bearing liabilities is also significantly up.
So Net working capital is now lower, significantly lower than it was in Q3 and also lower than it was 1 year ago. And that is also reflected in the cash flow from operation. And as you can see on the graph, we have Very strong Q4. We always have strong second half years, but this has been Exceptional in that respect. So happy to see cash flow from operation of SEK 890,000,000 in the 4th quarter.
Close to 50 percent equity, gearing of 0.9 €400,500,000,000 if we take out IFRS 16. CHOBRA is committed to provide us steady Dividends and the policy says 40% to 60% of the earnings per share. The Board Has decided to suggest a dividend of SEK 3, which is up from SEK 275,000,000 and is high in the range because it's equal to 57% of our reported EPS. Looking at the financial position, we are also here in a good shape. In December, we established a €150,000,000 credit facility, 3 plus 1 plus 1 year replacing the facilities that was about to expire in 2nd Q4 this year.
So now we have Average debt maturity of 3 years and a very solid liquidity situation. We have our unused Credit lines is almost SEK 1,500,000,000. The next slide is just for references purposes showing how The new segments is reconciling back to the old segment. I don't need to comment on that one. And then we have The outlook, starting mid collection.
Overall, It's good momentum in Tom and Greg collection, a lot of recurring revenue and a stable business in the bottom. And currently, the expansion in the Netherlands will have a positive impact, In particular, in 1st and second quarter this year, we will continue to carry ramp up costs Throughout 2019 and also throughout 2020, we have on average So SEK 25,000,000 on the OpEx, on top of, say, regular OpEx related to in preparation for upcoming deposit systems. And we That will continue into 1st and second quarter this year also. And then it remains to see what It turned out to be for the second half and going into next year. The projects in pipeline that Stefan mentioned, It's not true to believe that OpEx will increase due to more ramp up related As we are approaching the start dates, I'm assuming that we will get a role in these markets, for instance.
But for now, I think 25% is a good indication at least for 1st and second quarter this year. When it comes to Recycling Mining, the underlying momentum is there. But there are different segments. And mining and metal, it's still down compared to previous years. And The conversion ratio indicated 60% compared to and also with the strong comp figures in Q1 It's indicating that Q1 will be down compared to Q1 last year.
But that's also the last Quarter when we compare those against pre COVID situation. So and then this also was a Strong comp figures, but we have seen a lot of good underlying momentum in the segment and are sort of strong believer in the Longer term opportunities here. In the food segment, we have indicated Conversion ratio was 70%. So consequently, Q1 will not be very different from Q1 last year if that Kicksin, as we assume, and it's consequently a good start of the year because, again, we Compare ourselves with pre COVID figures. Remember that for both The 3rd and the TRM business, the Q1 usually is lower than the other quarters.
You see that also on historical figures when you go back and look at So that's normal in this regard. I think that completes My partner presentation. And we open up for questions on the weather.
Thank you, Espen. The first question is from Christian Stettal from Arctic. What drove the very strong 10% growth and 21% EBITDA margin in collection? How much of revenues was driven by new demand versus Business as usual
markets. Yes, it was a strong quarter in collection. When you say business as usual, the only thing that's not business as usual, Maybe you could say is the Dutch expansion that started to kick in. But it's still a minor part of the total. So Germany had some additional deliveries, more than usual.
But beside that, everything is Business as usual, so it is not very much on top to point out here. And the margin, EBITDA margin is a consequence of higher volume, in particular. And that, as you know, additional volumes Just not necessarily increase the OpEx and then the gross margin is hitting the bottom line.
Okay. Thank you. I will continue with the question also on new markets. Any other markets we Similar expansions as the Netherlands is coming from Jurgen, Bruin, Serta, Nordea.
No, Netherlands is rather unique in this context because you have The only market where you have kind of deposit on some Bottles in Netherlands, it was the big plastic bottles, been like that for 20 years. And but it didn't have for the small bottles, neither the plastic nor the can. And we do not have, To my knowledge, an example of this expansion is coming. So it's more that markets that, that for practical reasons are with all deposits Or maybe just order fillable systems that's going through flex deposits. And those In the kind of the near term, it was mentioned in at least the most important one was mentioned in Stefan's presentation.
The next question is about food. Also from Jurgen Bruasit from Nordea. Food was highlighted as a key solid contributor in Q2 and Q3, but the Q4 numbers show negative year over year development. Can you provide some color on this? Also any one offs In the 2020 margin that we should be aware of?
Or does this represent a normalized level to expect forward?
Yes. I think as a general comment, you would see fluctuations And then the recycling mining figures separate, we will see that, that dependent upon timing of orders installations, you will see Some fluctuations that maybe was not that visible when they reported this as a consolidated Unit, I think it's been a good development in 3rd, both in second and third quarter, knowing the challenges the COVID has created. So we have been good in Delivering orders that we have received, the order intake has been somewhat slower and consequently, we have seen a negative impact on the order intake. And so that is also the explanation. My 4th quarter is Lower than the comparable Q4 last year.
But with the momentum we now see and the order intake is 4 in Q4 is not given that it will be a trend going forward, but we will have Challenges both in food and TRM related to the COVID situation until the world is completely normalized Traveling is easy, and fares are opening and so on. So that's the reality we are living in.
Thank you. We have one question about M and A from Tommy Saucoupi at SEB. Any further M and A opportunities or is COVID and or multiples putting a lid on it?
Stefan, maybe a question for you.
So we feel that we have a Strong portfolio in Tomura which is very suitable for the strategic ambitions we have. So having said that we have a strong platform for organic growth and that will remain our main focus going forward. So there is no major changes on here. Having said this, we are continuously observing if we can complement a portfolio that goes in terms of technology category served geographical areas or some kind of disruptive technologies. So I would not rule out that we will do something.
On the other hand I would say that the majority of growth is to be expected to come from organic development in the following periods.
Thank you. The next question is about food and recycling mining. From Kristians Petalen at Is there any difference on lag from order intake to revenue recognition in Food and Recycling and Mining? Or is it 3 to 9 months for both segments?
Yes. It's if you look at the conversion ratio, you can see that TRM Has a conversion ratio around 70%. And the food is around 85%. That's if you calculate the average over the last 8 quarters. So yes, there is a difference.
And it takes somewhat more time to take the TRM orders Into revenues than the food, maybe too detailed, but there is one snag here and that's In food, at least in compact, we use percentage of completion accounting because the orders and installations are rather big. So that explains to some extent why the food has a higher percentage also, when that is, when you measure The book to bill ratio on backlog versus revenue. So if we take to income as we produce, So that influenced the figures also. So just for that, it probably will be closer to 70%, which is the TRM figure.
Thank you. The next question is a clarification question from Erik Twestad at Anaxo. Can you please repeat what you said about cost ramp up in sorting solutions? Was it not €25,000,000 per Quarter in Q1 and Q2 and that remains to be seen for Q3 and Q4.
I didn't say there's no Ramp up in sorting solution, the ramp up is related to collection, and it's about new deposit markets opening up. Of course, Domra will always have future oriented costs preparing ourselves for new activities. But since there are so many markets in parallel that assume to come in particularly generate other synergies plastic directly in the EU, We have to build an organization, having people on the ground and also some central staff functions Because we have to be prepared for this and come to this venting really start to roll. And That is kind of above and above the normal cost we are absorbing. And those cost So it's what we call ramp up cost, and it has been SEK 25,000,000 per quarter or SEK 100,000,000 per year, both for 2019 2020 and also the first two quarters of this year, around 25 €1,000,000 per quarter.
But then as the new markets is coming closer, it's Likely that this figure will increase as we have to further expand into new regions and hiring people Before at the time, they do not generate revenue yet because the deposit systems are not upper revenues.
And thank you. And we have one more question, perhaps the last question. It's about order intake. What was the organic order intake growth in Food and Recycling and Mining?
Yeah. It's It's a little difficult to calculate because there are different ways to do that. But you can assume maybe we are around 20% down on TRM side. And It's only a few percentage down on the field side.
Okay. I think that concludes the Q and A session. We have no other questions.
Then we would like to express our gratitude for your support and for your attendance. And I hope that by the next quarter I will be more skilled in starting my presentation. Have a great day, and we look forward to talk to you continuously. Thank you, and goodbye. Goodbye.