Juan Carlos Bueno: No, what we want to do is, for example, for this year, we’re very confident that as quarters progress, our order book will continue to increase. We keep on executing on projects, so that reduces the order book, and the same time we lock in future projects, and that makes it — continues to grow. When I’m talking, that we have $100 million or close to $100 million in order book, not all of that is into 2024. So some of those projects are already looking into 2025. So you have locked in projects that will already go beyond the one year. So that’s the way this thing works. You have quite a bit of lead time in some cases, and it’s all tied up to the individual schedules of these projects. So we will continue to grow.
We will bring more projects into 2024 that will allow us, as I said, to double our revenue this year versus 2023 and for sure keep on the pace that this industry is showing overall. When you look at the mass timber industry in North America, it’s growing at more than 20% a year, as a matter of fact. So this is a very significant growth engine for us. And obviously, we intend to ride that wave and do investments in our facilities to make sure they’re even more and more cost-competitive so we can take full advantage of those opportunities ahead of us.
Kasia Trzaski Kopytek: Okay, awesome. Thanks, everyone. That’s all I had. Have a great weekend.
Juan Carlos Bueno: Thanks.
Operator: [Operator Instructions] Our next question comes from Sam McGovern with UBS. Your line is open.
Sam McGovern: Hi, guys. Good morning. With regard to the sale of the sandalwood business, any plans in terms of what you’re doing with the cash that comes in? Is it just reinvest in the business, increase liquidity, or is there anything else that you’re planning to do with that?
Juan Carlos Bueno: Sam, as it comes to that, obviously we have some interesting growth projects that were given all the unrest that we went through in 2023, a lot of projects that we kind of put on hold, and we’re very eager to bring them back in. So that is obviously part of the equation. As we see the year progresses and we see what we believe to be an improvement overall in how the market prices behave, obviously this will be something that we will be keeping an eye on so that we can bring some of our — more of these CapEx projects to fruition. The sandalwood sale process will obviously add to that picture. So we see ourselves looking into what other potential projects we can bring forward that can have a good and quick return for a company.
And we have quite a bit lined up. There’s so many things that we want to do in Torgau to increase our lumber production there with a very quick payback and obviously, mass timber to increase the competitiveness over there. So, yeah, there’s plenty of things that we can work on if we have — hold additional cash in hand.
Sam McGovern: Awesome. Thank you very much. I’ll pass it along.
Operator: Thank you. That concludes the question and answer session. At this time, I would like to turn the call back to Juan Carlos for closing remarks.
Juan Carlos Bueno: Okay. Thank you, Abigail. And thanks to all of you for joining our call. Rich and I are available to talk more at any time. So please don’t hesitate to call any one of us. Otherwise, we look forward to speaking to you again on our next earnings call in May. Bye for now.
Operator: Thank you for your participation in today’s conference. This does conclude the program. You may now disconnect.
