No negative surprises from the Q2 results. On the contrary, the expected weak performance in the US after the Bud Light backlash was offset by resilience elsewhere. Pricing was highlighted as a positive factor and the FY guidance was reiterated. Increasing volumes in the US is crucial to boosting profit margins. We want to emphasize once again that, given the recent drop in the share price, investors may view this as a chance to invest in a stock with solid fundamentals.