VSH
#Thank you
No, no it's purely costs out.
It's purely costs out.
Otherwise I wouldn't dare to say that, so to speak.
It would not be in our hands.
Basically this is what we intend to do, because of course we will have the impact of our cost reduction program on the one hand.
On the other hand you have inevitable impacts of inflation, named salary increases.
So our cost reduction program, which is going to be implemented as indicated, as promised, will offset the wage increase of next year.
We have built inventory in the third quarter still and we are going to reduce inventory in the fourth quarter, so this makes a difference.
Well, we are on the way to until it gets better.
But at the moment it's still ---+ we are still negative on that.
We are still cash-wise in the US negative.
But it's getting better.
No thoughts at this point in time.
At least nothing which I ---+ we always talk about these things, but there's nothing which is really a decision at all.
Well we have done buybacks in the past, and this is always discussed with the Board by nature and decided by the Board.
And of course this stays on our agenda principally, but at the moment we do not feel that this should be rediscussed.
But I cannot exclude that this will come up again.
There are no firm rules, I believe.
It's an opportunistic thing.
Thank you.
Thank you, <UNK>a.
This would conclude our earnings call.
