And there is no detriment in terms of closing of stores. No detriment in performance and profitability. We have made this adjustment to make it very clear for you what our investments are about. And I will explain to you why we have proceeded as we did. The Pão de Açúcar stores that we opened or the last five stores that were opened this year were opened through a new format. We have a contract with an investor, who will make the investments for the store opening. We opened the store once these investments are made with a third party investor. From the accounting viewpoint, this is presented in a somewhat different way. In accounting terms, in the CapEx, what you will see is the cost, the investment as part of the CapEx, and in the bottom line, you will see this as a sale of the investment.
So the end result is a net result, but it does appear as CapEx, as we don’t truly have to disimburse money, but in terms of accounting, this appears as an investment and a sale and CapEx. We decided to show you this vision because in truth, we have invested in the opening of stores. And of course, we have other investments throughout the year of 2023. It’s as simple as this.
Operator: The question-and-answer session ends here. We would now like to return the floor to Marcelo Pimentel for the closing remarks.
Marcelo Pimentel: Well, thank you all very much for taking part in this earnings release call for the last quarter of ’23. The year of 2023 was a year of consolidation and confirmation of our turnaround strategy. We have maintained focus and consistency on our strategic plan, and we have really progressed very positively our business. We are going back to basics, but doing it well, taking the Company back to its leadership position in food retail in Brazil. We’ve overcome significant challenges such as the change of model of hypermarket, category management, actions to reduce expenses and out-of-stock store just to improve our profitability indicators. And we’ve defined new guidelines in our multichannel initiatives. We’ve resumed our organic expansion of stores, and we’ve decided to place customers in the center of our decisions.
We’ve made important actions to reorganize our capital structure. The achievements in 2023 really confirm that we have evolved very firmly, consistently, transparently, with discipline and focus. We’ve started 2024 in the last — third and last year of the turnaround plan. I’m confident that it’s going to be a year of acceleration and consolidation of our strategy, expanding the games, focusing on strengthening our mainstream banners and expanding Proximity and Pão de Açúcar. We are better positioned with a lighter simplified company with a value proposition that’s very clear. I would like to take the opportunity to thank the best efforts of all our team, and we just move on together. Thank you all very much. Have a great day.
Operator: Well, thank you. With that, we close our earnings call, and the Investor Relations team is available to answer any further questions. Thank you all very much. Have a great day.
