Peter Sakon: And speaking of your plan, usually EBITDA is specified during these calls. Is there any read through for a lack of a sort of like reaffirming, I believe goal for this year?
Jeff Rutherford: So what I would tell you, there is nothing to read into it. And remember, we’re in a strange situation where I wouldn’t call 470 — 470 is our operating plan. As we went through refinancing in Q3 and Q4, we didn’t put out guidance. We put out our operating plan, that is the plan that we’re operating against, that is the plan that our team is committed on hitting. So you should read anything into it. We feel that that is our plan. If we were to provide guidance, we could put higher and lower than that number. But since we’ve already shared our operating plan, that is our operating plan, that is what we’re driving to, and the units are key to that. So if we hit those units, we will be hitting our operating plan and that’s how you should think about our business.
Peter Sakon: Lastly, some other companies publicly traded have looked to the equity market to reduce leverage. Is that something that you’re currently evaluating?
Jeff Rutherford: So Peter, we are evaluating all. Deleveraging the company is clearly an area of focus, and all options to deleverage the company are options that we will evaluate. That is something that myself, the Board of Directors take very seriously, and we’re evaluating all options. And we look forward to communicating some of those actions as we kind of crystallize that plan and talk about that during our — during future quarters. But that — we’re looking at all tools at our disposal we’re looking at.
Operator: The next question today is a follow up question from Matt Summerville from D.A. Davidson.
Matt Summerville: Octavio, I was wondering, just with the ATM business. If you could sort of talk a little bit more specifically about the demand environment as we look ahead? And to the extent you can add regional color, maybe touch on North America, LATAM, EMEA and Asia-Pacific in terms of what you’re seeing there.
Octavio Marquez: So I’ll try to be very brief to kind of quote, Matt. But I would say North America, as you know, it’s a market that is embracing recycling technology as a good way to improve the cash efficiency in the branches and change the branch footprint service and the customers better. So we continue to see a strong refresh cycle happening in North America. As you know this is a multi year cycle but we see that new recycling technology plus the age of the fleet in North America will allow us to have — and our technology will allow us to continue having success in that market. Latin America, that has a very special place in my heart, but it continues being a cash world. So we still see strong demand from almost every market in Latin America.
We have a very strong leadership position in some of those markets, and I would say all those markets with plus 60% share in some cases. So we continue to work hard to maintain that leadership in Latin America, and demand there continues to be strong. They’re recycling is well accepted but they’re clearly more of a cash dispenser market still with just access points being the key point for that market. Asia Pacific to us is very important. As you recall, we had exited the Indian market, which is one of the largest ATM markets in the world. Through contract manufacturing, we are entering the — reentering the Indian market. And we feel optimistic that that will once again create some additional volume for us in India as we perfect this contract manufacturing model.
And lastly, Europe, I would say that Europe looks like a stable market. We continue to see the consolidation and the pooling of ATMs across countries and across banking institutions. But again, as that pooling happens, it does allow the opportunity to refresh those older machines. And so it’s a good opportunity, but we see that more as a stable market going forward. And importantly, as I described with different dynamics in the market, we are also working very hard to align our cost structure to those markets. So our cost structure needs to reflect the opportunity where the opportunities are and that’s something that the team is working very diligently on.
Matt Summerville: And just lastly been talking on a quarterly basis and sort of providing updates on the progress you were sort of seeing your infrastructure initiative. I’m curious as to where you ended 2022 in terms of number of ports or chargers under contract, and what your goal may be for 2023 and longer term in that business?
Octavio Marquez: So Matt, we met all the goals that we had for units under contract for AV charging initiative. Our goal — we have integrated that more tightly, that was kind of a separate growth initiative, run separately. We integrated that into our retail portfolio as we see tremendous synergies. Remember in our retail portfolio, we serve some of the largest fuel and convenience operators in the world that are also going to be large charge point deployers. We sell some of the large charge point operators. So we have integrated that into retail, because we see a lot of synergies and it’s a service that — and we have a large organization that can help us to position that in different verticals. So we are very optimistic. So we exceeded the target of 30,000.
We ended close to 50,000. And again, it continues to be an interesting opportunity. As you know, you follow that industry, those vertical very closely, there is still a lot of conforming and defining what the models need to look like. And as I said before, this is a longer term opportunity where we want to be on the starting point, and really adapt as that market continues to evolve.
