So now with this track record, we’re slightly ahead of our internal plans for cost out and as such, we have raised the ambition now by 1 billion to SEK12 billion of run rate savings until the end of the year. And we will continue to take additional and decisive cost action, cost out action as needed over time. So we can move to the outlook for Q4. We are guiding basically for four key parameters. We expect gross margin and networks to learn within the range of 39% to 41% in Q4, so up from the guidance we had for Q3. Top-line seasonality between Q3 and Q4 in networks will be somewhat less than normal. And this is mainly actually due to specific factor and that’s the fact that India is expected to be sequentially flat Q3 to Q4. In Cloud Software and Services, EBITDA is expected to reach at least breakeven for the full year, as we’ve said before, but with a lower sales top line seasonality than normal between Q3 and Q4.
And again important here to know that given the characteristics of this business, we don’t expect a linear result development quarter after the quarter, results will vary between quarters depending on software deliveries, project acceptance and so on. And then looking at group EBITDA margin for fourth quarter, we expect to reach around 10%. We see similar market trends from Q3 continuing in Q4, but we will see increased support from the cost out program. And here on the slide you see a few other planning assumptions related to OpEx amortization restructuring. But as usual, please refer to the report for the full set of planning assumptions there. So with that, thank you and I would like to hand back the word to Borje.
Borje Ekholm: Thank you, Carl. So, while near term dynamics are uncertain, our long-term confidence remain undiminished. In the current environment, we focus on what’s within our control and executing on our strategy to extend our leadership in mobile networks, grow our enterprise business and drive a lasting cultural transformation. As we look ahead, we see that mobile networks investments intensity is on the lower end as our customers are cautious with investments. And this gives us good confidence, the recovery will come. Until then, we will continue to take actions that position Ericsson in the best way to create value, which with the market recovery of course will create good operating leverage. I’m very confident in our team and the work they do every day.
So our goal is to make Ericson a more profitable company, returning to our cash flow target and capturing the next major wave of network innovation with a substantial platform business. With that, I think it’s time for some Q&A Peter.
A – Peter Nyquist: That’s correct, Borje. So, we will now then start the Q&A session. [Operator Instructions] So let’s look at the queue here. I think I have the first question from Aleksander Peterc at Societe Generale.
Aleksander Peterc: The first one will be just in broad terms. I know we don’t guide on ’24, now that we no longer have this 15% EBITDA margin targets, but could you give us a sense of whether you think network’s gross margins will towards plateau around 40% that you hold in the third quarter and also into the fourth quarter despite the adverse developments of the U.S. market? So, would you be able to hold this into next year or maybe improve it given the cost actions you’re taking? And then just a very quick follow-up on India is that now leveling off at high levels and may roll off into the decline next year or do you see further expansion there?
