Unidentified Analyst: All right. Thank you.
Operator: The next question is from Curtis Moiles with BNP Paribas Exane. Please go ahead
Curtis Moiles: Hi, yes. Thank you for taking my questions. So you, in the BDS Segment, had commented that you’re seeing strong demand for syringes. I just wanted to check, can you give a little bit of color around the demand that you’re seeing for the cartridges as well?
Franco Stevanato: You know that we are a market leader in cartridges since many years because the cartridges are the containment solution for pen injectors. So the growth of, generally speaking, the self-administration and even more the expected growth in pen injectors is driving volume for the future. In this space, the adoption of higher-quality standards and the protection of quality that is more pronounced when they use ready-to-use configuration is accelerating the demand of such containment solution in the market. So our CapEx are really in line with these trends, and we expect to take opportunities mostly in biologics because of the quality of our containment solution and because of our ability to serve them in ready-to-use configuration. That is also linked to the positive impact in the business we have from the same trends in Engineering for our assembly lines and visual inspection systems.
Curtis Moiles: Super. Thank you. And if I could just add another one on the Engineering Segment, you had previously mentioned that there were long lead times for electronic components. I’m just curious, have you seen any improvement there? Or do you have a timeline of when that will be kind of normalized? Thank you.
Franco Stevanato: The comments of Franco before was mostly related to what happened in 2022. Now the situation is much more normalized in terms of reliability of the supply. There are still lead times that are longer than five years ago. What is now needed to be ordered two months in advance, a few years ago was out-of-the-shelf supply. But now we adjusted our planning to the new situation. And so, we are dealing with the tail of what happened one year ago or more.
Curtis Moiles: Super. Thank you.
Operator: [Operator Instructions] Ms. Miles, gentlemen, there are no more questions registered at this time. Floor is back to management for any closing remarks.
Lisa Miles: Thank you. Franco Stevanato will add some closing remarks.
Franco Stevanato: Thank you, Lisa. So despite this near-term headwind that we are facing in 2024 for vial, that is more pronounced than what was expected, what for me is extremely important to reassure all of you that our strategy is extremely solid. We are confident in our future. We are so proud and honored to invest in these new greenfield plants because we are behind big customer program, in particular, for syringes, Nexa, EZ-fill cartridges, and we are today laser focused to execute. Nothing changed on our strategy to deliver to our customers a high-value solution program for them. So today, the organization in a humble approach is going to more and more reinforce attention on execution and efficiency in order to deliver what we presented during the Capital Market Day in New York. Thank you.
