Andres Lopez: Yes. So with regards to the progress on adding or enabling the current assets to use alternative fuels, we’re making very good progress. The final target is 50 . The circumstances have been improving. So that give us a little bit more relief in that process. But we started very early last year and we’re in a very good place at this point in time to be able to respond if that is necessary.
John Haudrich: Then on the other question on the energy contracts, just a little background for everybody. We’ve taken for years a sophisticated structural approach to the energy procurement. As a result, a number of years ago, we established best-in-class long-term energy contracts and that was done prior to the run-up in the cost that we’ve seen in the last few years. This — as you alluded to, this long-term position extends well beyond the current year. So we should have an enduring competitive advantage here for that period of time. And keep in mind, we do believe we need this. It’s not only just the inflation that we’re seeing directly but we have SG&A inflation, higher interest rates, CapEx inflation and things like that.
So, at this point in time, we don’t feel the need to get into the marketplace. And Anders alluded to it a little earlier is, is even though natural gas has come off in Europe off of its high, it kind of averaged €120 per megawatt hour last year. It’s still quite elevated at around €60 per megawatt hour compared to maybe pre, call it, pandemic numbers of €20 per megawatt hour. So, at this point in time, it’s still quite elevated. And of course, we’re seeing probably a little bit of a lower window given the warm winter but we believe that there’s still a structural challenge over in Europe on energy. So again, I think we don’t feel any pressure to get into the market.
Operator: Our next question today comes from Kyle White from Deutsche Bank.
Kyle White: Congrats on the strong quarter and a strong year. I guess just first, I think you mentioned you’re looking to introduce an actual guidance range for the full year and the future as you gain more market clarity. What are you waiting on here to get more clarity on? Is it more — is it consumer demand? Is it inflation? Just any more detail you can provide behind that decision?
John Haudrich: Yes. I think it has to do with all the macros. I think the first variable that we’re looking at more than anything is what is the likelihood of recession in particular in the back half of the year, the implications. We don’t really see any tripping any wire between now and midyear in our business. Now we just don’t have the visibility into the back half of the year. So we’ve intentionally tapped down our expectations and what we’re showing here in the back half of the year because of that uncertainty. And so obviously, what happens on interest rates and everything like that has a big effect on how people view the economy and potential harder soft landing and things like that. So obviously, that’s a big determinant of, I think, whether we drip into recessionary pressures or not. So we’re clearly watching that and of course, the volume activity and sentiment from our customers.
Kyle White: Appreciate it. And then on volumes, looking at the Americas, do you have a sense if the decline this quarter was the result of any destocking? Or was it just consumer weakness, given inflation? Just what’s your best sense of the driver here? And I would appreciate if you’re also giving any kind of target range for volumes for 2023 by the segments or by the region?
