Right. So that’s probably that’s one of the contributors to working capital benefit, the same on this legal provision we took in Colombia that was cashed out these periods. So that was also a contributor to working capital, we did have a large B2B project in Panama, that we were – that benefited us a bit on working capital, sort of, the timing sort of payments received versus payments going out to some subcontractors, and some of the equipment providers who are providing some of the information or some of the aspects of that project. So that benefit us a little bit as well on working capital. Those are probably the key items I would highlight. But look, I think was it was a good quarter, overall, from equity, free cash flow. I was cautious in terms of making sure you’re happy in terms of forward-looking.
What I did pull out and highlight a few items on a forward-looking basis on equity free cash flow, particularly spectrum in Q4, which is going to be a big uptick for us. We highlighted in June, in terms of full year perspective of higher spectrum costs this year, but particularly it’s going to be pronounced in Q4 for us this year on the spectrum costs, as well and just paying for some of the items that we took – we booked here from a service perspective this quarter, as well as what we expect to be booking next quarter.
Operator: All right, thank you Andre.
Unidentified Analyst: Thank you. Again, sorry, once again for the camera.
Operator: No worries. Thank you, Andre. All right, so next, we’ll take our last question from Fredrik Lithell from Handelsbanken. Fredrik, good to see you.
Fredrik Lithell: Good to see you. Thank you very much. Thank you for taking my questions as well. Maybe just a little bit of a housekeeping. Sheldon, you. I think you mentioned earlier about severance costs. Also in Q4, was that correctly understood? Or did we see a peak here in Q3 on severance costs? That’s the first one really. The second is, is on the Everest one, two, and possibly number three, and enlargement of all sort of that project as well. I’m just curious to get an elaboration on how deep you can cut in cost, before it starts to hamper your ability to push growth. At the same time, I’m just curious how you balance that going forward. So you don’t get four scores on customer care, or you’re not setting up the next base station, whatever it might be, I’m just curious to have a sort of reasoning around that balance would be interesting to hear.
Mauricio Ramos: Yes, I’ll start with a second one, obviously, Fredrik will be very, very careful. Very, very consensus. And obviously, we start with the areas that are less revenue generated and protect those definitely as part of the process. So you can rest assure that we are surgical in our approach, but everything gets reviewed with a payback analysis. And then we certainly protect the areas that are long-term revenue generating as part of the process. But there is room to be more and more efficient. The ambition on Everest was always significantly high. And we’re emboldened and supported by our new largest shareholder to take that opportunity. And as we’ve been discussing some of the markets that are part of the question.
We should also highlight that part of the reason why we see a path to better control in many of those markets, is because we see efficiencies, significant efficiencies there at all levels, as well. So that’s the full answer to your question. Sheldon?
Sheldon Bruha: Yes, I would say I mean, in addition to that Fredrik, I think for this cost, we’re trying to take complexity out of the business, and as application, which I think quite frankly, it can be beneficial from a customer perspective, as well as fewer product offerings, fewer complications in terms of how they interact with us, et cetera. So, some of the cost saving they are actually hopefully, you’ll be, I would expect the beneficial as well to the top line not just to, sort of cut. If you’re trying to push us towards that we’re cutting and muscle out of the business. And quite frankly, as we’re trying to improve the way we operate as a company. In terms of additional severance costs I mean, yes, we’re going as I alluded to it we are going through our budgeting process right now.
And we’ve taken the actions of the headquarters this quarter in terms of the space to, we’re finalizing our plans for the country we see here, as we finalize the budgeting, and there will be charges here in Q4, related to that. We’re not, going to give you the size and guide for that at this point in time, there will be 10s of millions of dollars of severance costs I would expect in Q4. And we’ll be giving you much more color on that once we complete our budgeting process here – and the full year results in February.
Fredrik Lithell: Perfect, thank you very much.
Mauricio Ramos: And consistent with that project, you should assume that the 135 million number will also increase commensurately.
Fredrik Lithell: Right. Thank you, Mauricio.
Operator: All right. Okay, thank you very much, Fredrik. So I think that wraps up the Q&A session. Mauricio, back to you.
Mauricio Ramos: Yes, just want to give you the 32nd wrap ups to make sure that the big points are clear. And they should be pretty obvious on our call today, Colombia is going well and it’s improving its profitability very quickly. It is now better capitalized. And we have received approval for merging our mobile network and spectrum positions in Colombia. Tons of work in Colombia, and that work is in progress. But we made a lot of progress this quarter, and we’re heading in the right direction, as we alluded during the call with a clear objective ahead of us. In Guatemala, as you have heard of us for a number of quarters our market leadership has been sustained, spectrum positions have now been equalized. So, we no longer have a spectrum or a level of disadvantage, and we’re putting that to use.
And there are initial signs of a healthy environment as to some price increases in prepaid in mid-September. So as I said, we’re cautiously optimistic in Guatemala. And as you heard our cost savings and our ambitions on efficiency have been increased with a broader phase 2 to a project Everest. And most importantly, all of these efforts are aimed at a single thing which we have alluded to before. And that is to make 2024 the year of our strongest natural delivery. So hopefully those points are clear. And thank you for joining us today.
Sheldon Bruha: Thank you.
