Good morning, and welcome now officially to the twenty twenty one Capital Market Day of Sika. I also would like to welcome very much the virtual participants. This time, a few less than last time, fortunately, because we have more faces here in the room. I think that's a very positive sign. I think it's not only positive for us being here, it's also positive for the economy that we slowly but surely go back to life and back to normality.
With the protection available, we can also enjoy a relatively risk free atmosphere here, and that's what we are doing. Today, I would like to emphasize four pillars of our success story: the profitable growth, the innovation power, the digitalization and the enabling topic. You also see on the right hand side, probably more the soft factor of our success. It's our people, it's our 25,000 employees that, at the end, deliver these impressive results in a very unique way. We call it the seeker way, the seeker spirit.
And I hope you will also experience some of that during today. We also have added Raffaella to talk about HR or our culture a little bit more in specific because we believe it's one of the very important ingredients that make the Sika story so successful. But let's look at our strategy to start with. I think the strategy is well known, and it is delivering outstanding results. These are the half year results that I don't need to go into details, but it's just for a moment to reflect an impressive long term story that this strategy is delivering on the top line as well as on the bottom line, especially also the over profitable over proportional profit evolution.
The strategy is built on the known megatrends. I don't want to go into the details, but some of these megatrends have further raised in importance and some have really, let's say, made it significantly to the forefront. And I want to talk about digitalization here and later on. I think the last two years or this pandemic has shown that digitalization in all aspects of life are going to play a much more important role, and we will also show how we are integrating that into the current strategy. All the other megatrends are still around and are still rising in relevance and haven't lost any importance for our strategy.
I think here, very important, even under the very special conditions of last year, these years, we can reconfirm that our strategy works and we'll deliver the results that we have outlined several years back. I think I don't want to go too deep into the details, but it's clear. Market penetration for us, having a 10% market share globally is still a huge field for future growth. With presence in 100 countries, having a sales force everywhere available for cross selling, for utilizing all our technologies, our target markets is just an amazing platform for future growth. Being local and having a strong global network via the regions, via our corporate functions is a very important engine for our growth strategy.
Innovation, I think courage for innovation, one of our values that we put very high, of course, plays an important role in the past, today and even more in the future. I think here, our promise to deliver 25% of sales with new products is in the strategy well reflected. Now more and more, we see that performance and sustainability are almost synonyms that go together and offer another excellent platform for us to innovate and to drive the, let's say, decarbonization of our global task furthermore. So here, we have a great opportunity with our five core technologies to deliver. Operational efficiency has been integrated in our Strategy 2023 and replaced the emerging market pillar that we had in the past.
It's very clear for a company of our size with our footprint, we have a lot of possibilities to leverage and take advantage of the size that we have built. In the meantime, mass, and it goes not only in operations, logistics, it goes also into our chemistry and our formulations. It goes into procurement, of course. We see it also now during this, let's say, a bit challenged, the supply chain situation. Size matters very much.
We have a premium status with our suppliers. Doesn't mean that we can dictate the price, but we get the volumes certainly at a higher level than others. Acquisitions. I think this is just the inorganic part of our growth that is built on the organic accelerating in many, many locations in many, many ways. Later on, Adrian will go a little bit into the details, but it's clear Sika is an acquisition machine.
And it's an acquisition machine from small, mid to large scale, and all of them mean a lot to us. Small acquisitions in a rather small country have a big impact in regards of our standing in that country. So we do not neglect small countries and just focus on the big countries. But of course, we also have the big countries where we can also integrate larger acquisition, and I think Parex is an excellent example how successful we have been able to integrate that. And there's still a lot out there that can be integrated.
So there's plenty of opportunities. People, people, people, that's what deliver our results. Our culture is unique. Our culture is very much people oriented. Our interaction is people oriented.
Our slogan, building trust, is putting the relation between people in the center. And therefore, this let's say, this time or these constraints over the last eighteen months, they were certainly not easy to bridge. Since we have excellent relations with our customers and suppliers also amongst us, Certainly, it was for us a time we could certainly bridge. But at the same time, we go back into business, we go back into the battlefield, helping our customers on the construction side, also meeting ourselves in person to talk about the future, talk about acquisition, the strategy and all the things that have come have been a bit reduced during the pandemic's time. And here also, Raffaella will further elaborate on this very important factor.
Sustainability has certainly elevated in relevance and importance over the past years very much. Everybody talks about it. I think we have an early start into this topic. Almost 70% of our products already have a positive impact from a sustainability perspective. And when we look on the sorry, we'll come back to that later on.
The focus for us over the past ten years has been on sustainability to optimize our energy, waste, water consumption, health and so on. But now we talk much more about the CO2 impact. And here, we added the Scope one and two, as you all know, with a 12% target until 2023. We have achieved amazing results so far, and we are moving further on reducing our own footprint on Scope one and two, but we also want to tackle Scope three, and I'll come back to that in a moment. Unlimited opportunities.
This was also a bit disloyal last week when we had our 150 senior managers all together here in Switzerland. Our company has a leading position. We have very supportive megatrends. We have needs of our customer markets. We have the footprint.
We have an excellent organization. Now what drives us further is not that we are looking for benchmark or leaders in the market. We are driving ourselves by being curious, by using the empowerment of the 25,000, the collaboration spirit that we have and, of course, also the competence in relation to what's relevant in the market, but also what is relevant that we can provide to the market. Just coming back to some of the innovations that we have presented in the past. You may remember curing by design, an adhesive system that almost on time when you want is curing in full.
Today, here, we have expanded this into the flooring. I mean, you see it here on the ground. A floor is also a system that needs some time to be laid out. But once you have done it, you want to have it cured immediately. And traditionally, this takes time.
As you can see, seventy two hours until a traditional floor can be utilized after the installation. And with this curing by design mechanism, we can do all the work as usual. And then by having the chemistry kicking in and curing it so fast, we can reduce from three days to one day and have two more days of availability of the floor. And this, of course, means a lot depending on the kind of projects that are going in refurbishment. Another very significant trend is on the construction side to move from the side to industrial manufacturing.
We have seen it for decades where prefabricated concrete elements were produced, so called precast and of course, windows and facade elements. But it is now moving more towards the center where these elements are already preassembled and create modules, which then are put on-site together in a leg or like construction. For us, of course, a fantastic evolution since our industrial competence to manufacture not only cars, but also anything that needs to be bonded and sealed and manufactured in an efficient way. This is exactly where we can put our competence together for the future of modular building. And modular building is growing at a nice growth path of 6% compared to the traditional overall growth of the construction market.
There are several underlying elements to it, labor availability being run, time constraints on-site, space constraint, for those that remember our Capital Market Day in New York City, these are all elements that are fueling this trend to modular construction. Then, of course, a very exciting story. You have seen it already. And for those that are virtual, you will see it during the lunch break. You will see a video what we have seen earlier this morning on this fantastic process to recycle concrete waste and not just to crush it down and have, let's say, inactive ingredients that you can then feed back into concrete eventually.
But by having a smart process, adding CO2 to the process and some zika to make this process efficient. And the output then is the aggregates from the original concrete plus and the magic powder or the supplementary cementitious material. So a material that can be used to replace cement to a certain degree. And then, of course, also the CO2 that is captured in this process will play a more important role. So we will have also in the afternoon out sessions some more information, but just sharing my excitement about this very unique process that we have seen this morning in a scale up version.
And we'll keep you updated in the afternoon and going forward as well on this innovation. Digitalization, I think this has gained a lot of relevance. How do we tackle that in Sika? We tackle that as an integrated part of our strategy, of our value chain. So this is not just one area.
This goes across. This starts, of course, with the customer centricity approach that we have smart B2B platforms online, that we have apps and services online available for our customers. It goes, of course, into our own operation, Industry four point zero. It offers new business models for us that we are exploring. And of course, also it is, let's say, up scaling the knowledge exchange within the group to a level that is offering excellent opportunities.
Of course, in line with our digital presence in the online platforms, it's playing much more an important role than ever. And here, we have the aspiration again to lead and make for our industry don't compare us with maybe industries that have been on that track for long. But in our industry, in the construction industry, we want to be the forerunner in the customer experience regarding Sika. E commerce, I will also come back to this, but e commerce is a reality, started somewhere else. Now it's across all businesses and also the construction business.
And you will see some examples where we already are quite well set up and much more to come. And the last point, the big data point, it's very clear. This is an endless opportunity for us to utilize these data to the benefit of stronger, better solution for our customer, for our markets. And this is clearly a future direction that we are going to take on. This picture, I would say, five years ago would have been not available.
It's reality. It is clear that our brand, our standing in the industry is pulling our products from the Internet even in small deliveries, one or two cartridges, things we couldn't imagine five, ten years ago. But the reality is it's there and it's growing fast. And here, we see clearly the power of our brand, the power of our products going through various channels. And the forerunner here clearly is China, is The UK and others to follow.
It all comes back to the Zika brand. I think here also a transition and the recognition of the power of the Zika brand over the past years. When you look at the brand value just a few years back and the brand value today And just imagine the brand value in a few years. The Sika brand has a very strong recognition. And this is, of course, just going back to the e commerce slide before, this is a strong pool for our products.
And when you go and search online, you will see us very often in the top heat list when it comes to waterproofing, when it comes to sealing, when it comes to bonding. Sustainability, a key topic today, and I would like to go a little bit back. As mentioned before, sustainability is not the new thing for Sika. We started more than ten years ago. And even before that, it was never neglected.
But it was a journey where we committed ourselves to the UN Global Compact. We committed ourselves with our more valueless impact initiatives. We have evolved through the years when we also included the Scope one and two to the strategy, the 12% reduction. So this has been always near and near to our organization to also take care of the resources, to take care that we are not wasting, that we are optimizing utilization, that we also are providing smarter solution to the market. Now certainly, that's good, but going forward, not enough.
The expectations are changing for the right reasons. We have, I think, globally an understanding that we need to change the carbon footprint, that we need to get to a net zero goal 2050. We are all committed to this, governments, companies, individuals. And that's also what in the background Sika has been working on. And you can see here over the last few months and then also going forward, we take this serious.
In one year time, We would like then to talk about our net zero target and road map and our pledge, how we achieve this. Science based targets will be rolled out and shared. So this is for us a major exercise that's ongoing. We do it the Sika way, which means we rather think first, have our thoughts together, align ourselves before we go out and just make some commitments without any idea or clue how to achieve. So we don't want to just make a promise and later on scratch our heads about how to get there.
And you can all compare what's going on at the moment. I'm certain you will be impressed with what we are going to present, how concrete and how detailed we are going to tackle this topic when time comes to share. Zika is an enabler. We believe this is absolutely of essence that our solutions, our products have the power to make a big difference, a big difference in the way we build, we renovate, we build infrastructure, make our cities in a smarter way. Sika has the power to support this.
And it has elements in it, which first sight may look a bit strange, but durability. Many, many of our products have a durability and the lifespan, which is beyond what the current solutions are. And we believe to use these solutions in a more effective way. And we talk here about floors, roofs and so on. We have an excellent track record of durability being a key factor.
Sometimes it's not recognized, but it will become much more important. A building that can be utilized five or ten years longer has a huge impact on its overall CO2 footprint. For this, you need, of course, quality solutions. You need high performing products that also can deliver the wear and tear over this time. But here, Sika has already invested a lot, and we will further optimize this aspect.
The clinker reduction, clearly a topic that we have seen earlier. Cement is emitting a lot of CO2 just by the natural process of creating clinker energy, CO2 emission. Here, it's clear, anything to reduce the cement content in cementitious products, concrete to start with, but also, of course, in molts and so on has a huge impact. And here, we don't need to wait. This is available, and we will also see later in the breakout sessions excellent examples how significant it can be to reduce the cement content and use smart replacement material, one of them being the powder from the recover process.
And again, roofing, coming back to the durability of solutions, typical example where much more focus will be going forward. The impact of pandemic. I started in regards to what it meant to our organization. It's not over yet. You see here, we had these red zones where almost everywhere we had lockdowns.
We shall not forget that we still have lockdowns in Southeast Asia and other parts of the world. And at the moment, we have a relatively open situation, but this may change. I'm not too concerned about the lockdowns anymore. They will probably, with the vaccinations also, reduce in significance. I'm more into the long term impact of the COVID situation.
We see that our supply chain is constrained. We see also certain regionalization going on. The transport chains from the past are no longer open or, let's say, inexpensive as in the past. So this is going to certainly play a role. Digitalization, as just mentioned.
So here, we expect that there will be no way back to the normal as we have experienced this last ten years. Absolutely no concern for us. If our decentralized organization, we can follow this trend and we can also make ourselves available. But it's very clear, this is similar to probably the nineeleven impact where things came back, but they were never the same again. This will happen here as well.
But for us, very positive. Ultimately, the need for solution, the demand is there. It will be more regional. It will be more local than probably five years ago. This is a topic that, of course, is driving a lot of activities globally to bring this carbon neutrality into life that not only the pandemic, let's say, restart of the industry, but also the reshaping of the industry is taking a high priority on government incentive programs.
And here, also in the afternoon, you will see a little bit more details from our regional managers, but just the numbers are just outstanding, 10,000,000,000,000 are at the moment planned for infrastructure stimuli. A lot of that in Asia, where still there is a lot more to be built. There are still more megacities to be formed and infrastructure needed, but then also in the more developed areas like Europe and North America, huge significant investments into infrastructure. Finally, most important, what do we see ahead of us? And I would say here, we see and reconfirm what we have shared in July.
We will end this year with an overall growth between 1317% on top line. We will deliver the 15% EBIT for the first time this year despite all the up and downs that which is shared on the raw materials and so on. So we are well on track for this year's commitment, but also for the longer term, Strategy '23 and the key targets in there we can reconfirm. Good. With that, I hand over to Adrian.
He gives some more input and details how we achieved this.
Very good. And thank you, Thomas. Again, welcome to all of you here in the room and also participating remotely. After the strategic highlights and I think talking about many opportunities we have, particularly as an enabler in our industries we serve to become more sustainable. I would now like to talk about how our profitable growth strategy is driving our margins, and it's particularly the consistent execution across all the different elements across these four buckets, which are driving and will continue to drive our profitability into this 15% to 18% margin band.
And also here, organic growth is relevant, not only in sort of adding additional contribution, making us more relevant in the market, but also leveraging our existing cost base more effectively. So growth is clearly also a margin driver. We'll come to that. Material margin management, obviously, particularly now given the supply chain disruption and the strong input cost increases vis a vis pricing, very important. But there is also many other elements sort of feeding into this innovation, structural projects also improving our material margin or other ones.
I'll come to this in a minute. Then operational efficiency also here, very consistent set of initiatives across the value chain, across our group and also over many, many years delivering this 50 basis points per annum. And last but not least, M and A, not only contributing on the growth side, creating additional growth platforms, closing gaps, but also improving profitability. I will zoom in on this a little bit in the second part of my presentation, how and using the examples of the seven transactions we have done this year, how we're going about it and what it does to our overall business. Growth, I mentioned it, growth is not only increasing relevance and absolute contribution.
I think EVO, the ones that have heard it this morning, has given a perfect example with the circle, obviously, how we can through cross selling, through selling different applications into particularly these large projects, not only increase the top line, but obviously, it also comes at a higher profitability given the relationship, given the resources we have and increasing our share of wallet. I mean, this also works in the indirect channel, adding additional projects products to the shelf and going into different categories with larger builders merchants and many other elements, also e commerce. So clearly, these growth initiatives are also a profitability driver. In terms of the magnitude, obviously, the higher the organic growth there is, the bigger the potential. This is also clearly one of the reasons here why we will see quite a significant contribution from this operating leverage this year, given the amount of growth, but also how we have basically worked on our cost base, particularly during the pandemic year of 2020.
Material margin, second element, clearly a very important topic here. Here, we target a 54 to 55% material margin through the cycle. Also here, I mentioned it, innovation, but also procurement programs in terms of really attacking certain spend broadening the supplier base, eliminating single sources, but also on the formulation side, many elements that constantly maintain and drive this margin. And clearly, particularly now, input cost and pricing, very important. We are making very good progress on the pricing side, continuous increase in prices across the company on an ongoing basis, while obviously the unprecedented and ongoing raw material price situation will again lead to a certain timing gap.
This is also the reason why we will not be within this 54% to 55% band this year, but roughly at around 53% acquisition adjusted, which on the one hand means a very clear upside going forward when the situation normalizes, where we can keep basically then pricing on that level, managing this on an ongoing basis, but also continuing to increase prices. And we talked about leverage before. Here, clearly, this additional and higher operating leverage will mitigate the impact this year. Also here, the specific examples, and we will see this also later on then on the, let's say, replacement of cement in our mortars, for example, in Asia, where we have a very strong program running here to reduce cement in our mortars, which on the one hand has a very clear cost impact also, but even more so a very significant CO2 reduction in our chain. This obviously is Scope three, but if you think about the amounts here, very significant reduction of CO2, which comes along this sort of formulation efficiency, if you will.
Or then on the other side, also on the packaging side, an example here from The UK, using recycled material for our cartridges, on the one hand, clear customer demand, this is also something which is becoming much more prevalent, but also more effective on the cost side and again, sustainable. So we have many examples like this at the end of the day also supporting our profitability. Going on to, let's say, the operational efficiency element on the cost side, here a very structured program. Here we have also set out a very clear target of 50 basis points of improvement per annum. We have achieved this last year.
We will certainly also achieve it this year, very well on track across the spectrum. And also here, very clearly, many of these initiatives also come with a tangible sustainability element and improved element what our sustainability elements are concerned. Here, again, two examples, one where there is a lot of opportunity also going forward in terms of simplification and alignment of our footprint here in Southern California in The U. S, basically realigning our production and warehousing network, combining facilities, which at some stage have come through acquisitions, for example, but also have organically grown. Again, here, cost element to it, but also through the optimization and the better customer service, for example, these elements always sort of also drive the broader targets, not only on the cost side and then obviously on the energy side, again, here solar roofs where we have a number of projects ongoing also here energy saving on the one hand and with a clear sustainability benefit.
Last but not least, on the M and A side, M and A, I mean, we are using, as many time talked about and we'll go into a bit more detail, as a growth platform to really close gaps we see in our business, be it geographical or also in terms of channel, for example, and also at least locally in terms of products and applications. But also here, this is also a clear profit driver after the initial impact, particularly on the PPA side. And currently, particularly Parex is continuing to drive this element here in improved profitability. We can fully confirm the originally targeted €100,000,000 of EBIT run rate by 2022. We will be hitting €80,000,000 this year, which represents about a €30,000,000 absolute increase and also a relative improvement, again, feeding into this margin expansion.
More specifically, here you can see how sort of the development is and has been on the contribution side, on the synergy side when it comes to Parex. We're currently running at around €7,000,000 per month. Clearly here, I mean, supporting this €80,000,000 target of this year. A lot of the elements have been concluded on the procurement side, very strong impact positive impact on SG and A, also operations really ramping up and the heavy lifting basically has all been done. We have talked about the formulation element also here, a lot of good input and tangible benefits.
And also on the cross selling, here, momentum is a little bit impacted by shortages, but a lot of initiatives driving synergies further up. If we now look more specifically on the M and A side, and I want to use basically the most recent acquisitions to sort of illustrate how we think about M and A and what it does. If you look back a few years, that's sort of the 28 transactions we've done in the last six years. And it really spans across the different target markets, across many geographies, where we specifically look market by market where it makes sense to grow through acquisitions, be it on improving market position, closing certain gaps in terms of the product offering or market access. And this particularly also goes when we talk about different channels.
Historically, you all know, we have been much more coming from and been exposed to sort of the direct channel, whereas the market overall is about fifty-fifty. And even looking five, six years back, we've been about 30% in the indirect channel, about 70% of our business direct. And organically and through acquisitions, we have sort of rebalanced this over the years. Generally, we're sort of agnostic to the channel, but obviously, serving our customers in the most effective way. And that's been one of the drivers of our acquisition activities and here, particularly Parex has had quite an impact.
Now just for illustration, looking at the most recent acquisitions here we did in 2021, seven targeted acquisition and you can see here on the chart, it's really in many geographies. We have The U. S, we have Mexico, we have Brazil, Russia, China, Japan and Thailand, these seven transactions here, so a wide geographical spread. And if you sort of break that down in terms of what are the sort of strategic elements and what is sort of this platform, you can, on the one hand, see that there is in three transactions, there is a geographical sort of footprint extension element to it. That's typically in sort of the larger or the big markets and quite often emerging markets where, for example, in Russia, we have not been present with manufacturing, but also on the market in St.
Petersburg and Ekaterinburg, for example. In Brazil, the same in Minas Gerais, really sort of trying to also build and add and improve our market access. And Bexel goes into the same direction on the motor side, a clear extension of our footprint and therefore, relevance. Quite often closely related to this is, let's say, that the customer or the channel access, Also here, there is an element of this with crepes in Russia, again, particularly the distribution channel, the same with Bexel in Mexico. And if we look at the Hematite transaction in Japan and in other markets, it's really a very nice combination of construction business for the Japanese market in facade sealants, but particularly also in automotive adhesive significantly improving our access to Japanese OEMs.
So a very strong element here. And then last but not least, at least for the local markets here, a product and solution extension, also a number of transactions falling into this bucket here. Again, Hematite then on the solution for the facade in construction, where, for example, in Japan, we're very strong on the roof. But now with the facade sealants, we can much better serve and touch the whole building envelope. And the other transactions also here have this product element.
Maybe last but not least, American Hydrotech in a very strong and attractive field of green roofs really enable us to leverage this very strong market leading position in The U. S. To now also complement with other solutions in the North American market. This being all said here, graphically in terms of what has been the impact here over the last few years, you can see very significant and meaningful on the top line, But very importantly, also in terms of profitability contribution here on EBITDA level, a very strong improvement over the years in 2020, even a little bit above sort of the group average in terms of EBITDA. And this are sort of these 28 transactions we've done in the last five years.
So a consistent improvement really showing that growth is one element, but improving margins is also very much driven by M and A over the long term. With this, I would pause here and hand over to Raffaella, who will talk about another very key success factor, our people, our culture. Thank you.
Thank you, Adrian. So our values are an integral part of our strategy that was mentioned by Thomas at the beginning. And our culture, we believe, is the foundation of our success. So while we embrace a fast changing world, we need to preserve our attractive and inclusive environment. We need to make sure that we offer a place where everyone is treated fairly, with respect and has equal opportunities.
A place where everyone can be the true self and develop a strong sense of belonging. It's all about empowering our people at all level of the organization to really contribute actively to building our sustainable future. And Adrian just showed how we grow with acquisition. And over the last ten years, the number of FTEs has doubled. But still, our foundation, our corporate culture is extremely strong.
And this has been confirmed in our last global employee survey, where Sika scored an exceptionally high rate on engagement, 86 index points out of 100. And the survey also confirmed that our people are highly dedicated and loyal to the organization that our teams are proud to work for Sika and strongly committed to their jobs and to make Sika a successful company. We live in an environment that is built on trust. And this is a good foundation, but we don't give anything for granted. So in 2021, to preserve this strong culture, we launched three campaigns in a coordinated way, focusing on leadership, diversity and integrity, promoting an integrated set of values.
And leadership, I think, has proven in the pandemic is more important than ever. So the first campaign aim was really to embed successfully our new leadership commitment in the whole organization and engage all our people to drive change, unlock potential, inspire and win together. And our entrepreneurial spirit is what brings the best out of everyone. And this is how we create value for our customers and great results for Sika. The second campaign aims at fostering gender balance within the organization.
It's a Women at Sika campaign. And we have developed a very specific and tailored strategy aiming at attracting, engaging and promoting more women at all levels. And to support this strategy, we're further developing our employer branding. And the group management has decided to establish a global diversity steering committee that will preside over this initiative. And similar working groups will operate at regional and at local levels.
Our aim is really to broaden our women talent pool and also to create development opportunities so that many and more women can advance into leadership positions. The third campaign is a sort of a renewal of our commitment to fight and stand united against corruption. The initiative included a poster campaign with a theme around protecting our employees and workshops at local level to raise awareness. It also included an e learning on anti corruption addressed to the population that is mostly exposed to this risk at Sika. So 12,000 employees have been enrolled.
And the response to our call once more confirmed the strong commitment of our people to integrity. So within only five weeks, we had reached an accomplishment rate of 80% on the e learning. But the campaigns culminated in a celebration day, the first Global Seeker Day on the June 11. And it was a way to reconnect globally, a way to mitigate the negative impact of the pandemic on our togetherness culture. It was a day of high participation and high engagement across the region, a day with initiatives that were locally adapted under one joint motto that perfectly mirrors the passion and the loyalty that connects our people to Sika.
We love Sika. That's why we care about our culture. And together, we're committed to leadership, diversity and integrity. What do you love about Sika? Oh, Sika, what can I say?
Sika is my home. So this is how we grow and win together. And I think this is really the Sika spirit today and in the future. Thank you.
And to be quite honest, I love our performance. But when I see these videos, these messages, this gives me the energy that I need every day to the maximum for this company. It's the people that make it happen. And we enjoyed it on the June 11 globally under different circumstances, some very open, some still online. We enjoyed it last week.
That's the picture from Flims, where we met the senior managers, and we still have some here. We have the General Manager of Australia here. We have Mike from Singapore here. So we have Evelyn from Lyon here. So we have many of them here.
They stayed a bit longer to be with you here also for the afternoon to answer your question, to give you the perspective of our global organization. It is a true and honest reflection of our culture is. So glad that you are here and take the opportunity also to ask them questions. But now we come to the end of the presentations. And we would say, are there any questions to what you have heard or what you would like to address here now?