lvmh feb 2009 annual results presentation

8/14/2019 LVMH Feb 2009 Annual Results Presentation

1/35


2/35

3

@aai rgshstedcg ab FRMLhd tlg cadtgxt ab ?>>8 crhshs

Oushdgss rgoaudi hd baurtl quertgr,orau`lt ?>>8 rgvgdug ta 50.5 ohffhad guras

Sh`dhbhcedt pgrbarmedcg hmpravgmgdtbar eff oushdgssgs hd baurtl quertgr

_gcari rgvgdug rgec lgi hd Igcgmogr

^rabht bram rgcurrhd` apgrethads iawd < %

Eikustgi casts ta gdvhradmgdt

Mehdtehdgi lh`l fgvgf ab prabhteohfhty

Strad` `rawtl ab brgg cesl bfaw

_h araus hdvgdtary mede`gmgdt

Yer`gtgi hdvgstmgdts

9

Strgd`tlgdgi ster oredis hd ?>>8

Merjgt slerg èhds ab ster oredis hd jgy rg`hads

Hdcrgeshd` succgss whtl Eshed cfhgdtgfg

Gxcgpthadef mamgdtum ab Fauhs Ruhttad

Iauofg-ih`ht rgvgdug `rawtl

Gxcgpthade f fgvgf ab prabhteohfhty

@aai rgshfhgdcg e t Lgddgssy edi êrbumsClrhsthed Ihariug ta adàhd` praiuct hddavethad

@rawtl et Sgplare hd rgvgdug edi prabhtbram rgcurrhd` apgrethads


3/35

7

?>5>; cadthdug ta rghdbarcgaur campgththvg strgd`tls

Hd e cadtgxt merjgi oy;

Wdcgrtehdty ab tlg vh`ar ab tlg rgcavgry

Hdcrgeshd` sgfgcthvhty oy cfhgdtgfg

FRML whff pursug;

Uuefhtethvg hddavethad edi sustehdgi cammudhcethad

Yer`gtgi `ga`replhc gxpedshad

Bfgxhohfhty edi rgecthvhty ab oredis

edi tejg eivedte`g ab aur essgts;

Uuefhty edi iureohfhty

Lgrhte`g Crgethvhty

Jdaw-Law

FRML; ed gxcgffgdt pashthad ta cadthdugta rghdbarcg fgeigrslhp hd fuxury merjgt

K ged-Kecqugs @uhady


4/35

0

_gvgdug oy oushdgss `raup

- 9%- 5%50 >7350 583Yatef FRML

--(?0)(22)Atlgrs edi gfhmhdethads

+ 5%+ 9%9 7339 302Sgfgcthvg rgtehfhd`

- 58%- 53%029Beslhad & Fgetlgr @aais

- 59%- 5?%? 09>3 5?2Phdgs & Sphrhts

Ar`edhc`rawtl

_gpartgi`rawtl?>>8?>>8 U? ?>>8 U3 ?>>8 U9 ?>>8

Currgdcy hmpect ^grhmgtgr hmpect Ar`edhc rawtl

Uuertgrfy gvafuthad ab ?>>8 rgvgdug


5/35

8

- 9%+ 5%- 2%Yatef FRML

+ 5%+ 9%-Sgfgcthvg rgtehfhd`

- 58%+ 7%- ?8U9 ?>>88 madtls?>>8

Baurtl quertgr ?>>8 rgvgdugoy oushdgss `raup

Ar`edhc rgvgdug rawtlvgrsus semg pgrhai ab ?>>

?>>8 rgvgdug orgejiawd oy rg`had

Bredcg

59%

Gurapg (gxcf. Bredcg)

?5%

Wdhtgi Stetgs (hdc. Lewehh)

?3%

K eped

5>%

Atlgr merjgts

8%

Eshe (gxcf. K eped)

?3%

Hd % ab tate f rgvg dug


6/35

55

* gxc f . Leweh h

_gvgdug cled`g oy rg`had

- 7%

+ 0%

- 58%

- 5?%

8 madtls ?>>8

+ 5>%+ 58%Eshe

Gurapg

K eped

WS*

FRML @raup

- 3%

- 5>8

- 0%

- 58%

?>>8

- 9%

Gvafuthad hd facef currgdc hgsvgrsus semg pgrhai ab ?>>8prabht bram rgcurrhd` apgrethads

- 8L? ?>>8L5 ?>>8% Cled` g


8/35

57

Cled`g hd dgt bhdedchef gxpgdsg

-25(39?)(?8?>>>8

3?.5 3?.5

Essgts

22%92%

37%

@rawtl ab tatef gquhty

Igcfhdg hd dgt igot

Igcrgesgi hdvgdtary fgvgfs

Safhi bhdedchef structurg

Hd ohffhads ab gu ras

Dad currgdtessgts

Hdvgdtarhgs

Atlgr currgdtessgts

58%

5


9/35

50

Edefyshs ab cesl bfaw bram apgrethads

+75 335Brgg cesl bfaw*

-527? >>)(>89

3 7

5 7>25 357

5 7385 335

?>%

25%

?7%

?8%?>9 Igc. 35, ?>>7 Igc. 35, ?>>2 Igc. 35, ?>>0 Igc. 35, ?>>< Igc. 35, ?>>8

Dgt bhdedc hef igot Brgg c esl bfaw @gerhd`

Dgt bhdedchef igot edibrgg cesl bfaw

Hd mhffhads a b gura s


10/35

Edtadha Ogffadh

^G_BWMGS & CASMGYHCS


11/35

?5

G_BWMGS & CASMGYHCS

?>>>8

Hd mhffhads ab guras

_gvgdug - 9%

rabht bram rgcurrhd apgrethads + >.3%

Ar edhc `rawtl - 7%

?>>>8

?

?85

Jgy bh urgs

??

G_BWMGS & CASMGYHCS

?>>8 Lh lfh lts

Merjgt slerg ehds edi hmpravgi currgdt apgrethd` mer`hd et 55%

Stretg`y ab gxcgffgdcg, rhàraus mede`gmgdt

_gvgdug oy rg`had (hd facef currgdchgs); +8% hd Eshe :WS, Gurapg edi Yrevgf rgtehf hd igcfhdg

êrbumsClrhsthed Ihar; mehdtehdgi e``rgsshvg stretg`yraatgi hd tlg beslhad udhvgrsg

Cadthdugi gxcgffgdt pgrbarmedcg ab K eia rg

Succgssbuf rgfeudcl ab M hss Iha r C lrhgedi Geu Seu ve `g

Succgss hd mejg-up ab dgw baudiethad Iharsjhd Dui gediSrum i g _a u` gfhpsthcj

ûrsugi `rawtl ab Ce ptu rg Yate fgsjhdcerg


12/35

?3

G_BWMGS & CASMGYHCS

^gr bumg s & Casmgt hcs v hsue f

?9

G_BWMGS & CASMGYHCS

@ugrfehd; àai mamgdtum hd prharhty merjgts

_gmerjeofg succgss ab dgw fhpsthcj _au` g @

^ramhshd` stert ab dgw pgrbumg Hiyffg

^ra`rgss ab prgmhum sjhdcerg A rc lhig Hmprhe fg

êrbums@hvgdcly; succgssbuf feudclgs ab ^feyediEd` g au Ima d Fg Sgc rg t

êrbumsJgdza; strgd`tlgdgi mehd praiuct fhdgs

Ogdgbht; cadthdugi gxpedshad hd Eshe edi Gurapg

Mejg Wp Bar Gvgr; strad` pra`rgss irhvgd oy succgss abLh l Ig bhdhtha dedi Equefhdgs

?>>8 Lh lfh lts


13/35

?7

G_BWMGS & CASMGYHCS


?2

G_BWMGS & CASMGYHCS

?>5> Autfaaj

Cadthdug ta ehd merjgt slerg tlrau`l quefhty edi crgethvhty

êrbumsClrhsthed Ihar; gxcgpthadef hme`g edi hddavethad

Strgd`tlgd ster fhdgs hd pgrbumg edi mejg-up sg`mgdts

Mekar hddavethad hd sjhdcerg whtl Ad g Gssgd thef

Irew ad tlg jdaw-law

^rabhteofg `rawtl ab atlgr oredis

Cadthdug ta strgd`tlgd tlg carg praiucts et @ugrfehd edita raff-aut Hiy ffgpgrbumg

Dgw cammudhcethad edi feudcl ab e c afa`dg BfawgroyJgdzata cgfgoretg tlg fhdgs 5>tl eddhvgrsery

Cadthdug ta gxpedi êrbumsFagwg edi Ecque ih êrme


14/35

?0

G_BWMGS & CASMGYHCS


SGFGCYHRG _GYEHFHD@


15/35

?8

SGFGCYHRG _GYEHFHD@

?>>>8

_gvgdug + 9%

^rabht bram rgcurrhd` apgrethads >%

Ar edhc `rawtl + 5%

?>>>8

9 302

9 733

3>8 Lh lfh lts


16/35

35

SGFGCYHRG _GYEHFHD@

Sgfgc thvg rgte h fhd` v hsue f

3?

SGFGCYHRG _GYEHFHD@

57%

?>%

?7%

?>>7 ?>>2 ?>>0 ?>>< ?>>8

Bredcg

7%

5>%

57%

?>%

?>>7 ?>>2 ?>>0 ?>>< ?>>8

WS

Sgplare Merjgt slerg gvafuthad ogtwggd ?>>7 edi ?>>8

Saurcg D^I

?>>8 Lh lfh lts


17/35

33

SGFGCYHRG _GYEHFHD@

SG^LA_E_gvgdug rawtl hd eff merjgts edi ad Hdtgrdgt

Hdcrgesgi prabht bram rgcurrhd` apgrethads

Dgtwarj ab 88 Lh lfh lts

39

SGFGCYHRG _GYEHFHD@

Sgfgc thvg rgte h fhd` v hsue f


18/35

37

SGFGCYHRG _GYEHFHD@

?>5> Autfaaj

IBSStrgd`tlgd Clhdgsg cfhgdtgfg igsthdethads;

Lad` Jad`, Mecea, Shd`eparg

Igvgfap dgw tgrrhtarhgs

Mehdtehd rh`araus mede`gmgdt ab casts edi hdvgdtarhgs

SG^LA_E

Edatlgr yger ab `rawtl

Semg pecg ab starg apgdhd`s es hd ?>>8

Bacus ad gxcfushvhty ab praiuct abbgrhd`

Gxpedi ad-fhdg sefgs hd Gurapg

Strad` patgdthef ab mufth-cleddgf cfhgdts

PHDGS & S H_HYS

Clrhstaplg Deverrg


19/35

30

PHDGS & S H_HYS

?>>>8

?>>>8

Hd mhffhads ab guras

_gvgdug - 5?%

^rabht bram rgcurrhd` apgrethads - ?

5 >2>

02>

Jgy bh`urgs

Clempe`dg edi Phdgs Ca`dec edi Sphrhts

5 9305 2?

3>8 Lh lfh ltsE vgry ihbbhcuft yger, merjgi oy igstacjhd`et rgtehfgrs edi cled`g hd cadsumgr oglevhar

Hmpect ab igstacjhd` eccaudtgi bar lefb ab igcrgesghd sefgs vafumg

Apthmhzgi fgvgf ab hdvgdtarhgs et rgtehfgrs et gdi Igcgmogr

Cled`g hd cadsumgr oglevhar

Fecjfustgr igmedi

@rawtl hd cadsumpthad et lamg

Yrgdi ab treihd -iawd


20/35

38

PHDGS & S H_HYS

?>>8 Lh lfh ltsHd tlhs ihbbhcuft gdvhradmgdt, aur oredis rgshstgi

edi rghdbarcgi tlghr vefug c rgethad stretg`y

Clempe`dg

Rafumgs iawd 9 % hd baurtl quertgr (-52 % hd ?>>8)

Gbbgcthvg cammgrchef pramathads et yger- gdi et pahdt ab sefg

^ashthvg sh ds hd sgcadi lefb hd Gurapg (pe rthcuferfy hd Bredcg)edi Eshe

Fgssgr igmedi bar prgsth g vhdte`gs

9>

PHDGS & S H_HYS

?>>8 Lh lfh ltsHd tlhs ihbbhcuft gdvhradmgdt, aur oredis rgshstgiedi rghdbarcgi tlghr vefug c rgethad stretg`y

Phdgs

Rafumgs up 2 % hd baurtl quertgr (-?% hd ?>>8)

Strad` rgoaudi hd Er gdthde edi Orezhf et gdi ab yger

@aai mamgdtum bar sperjfhd` whdgs hd WS


21/35

95

PHDGS & S H_HYS

Ca`dec

Rafumgs up 55 % hd baurtl quertgr (-7% hd ?>>8)

Merjgt slerg `ehds

Clhde; Lgddgssys fer`gst cadtrhouthd` merjgt

Safhi rgvgdug pra`rgss et gdi ab tlg yger

Strad` rgcavgry ab cadsumgr igmedi

WS; oecj ta pashthvg mamgdtum hd baurtl quertgr

_usshe; merjgt sthff ebbgc tgi

Sphrhts

@fgdmared`hg; gdcaure`hd` pgrbarmedcg hd WSedi Cadthdgdtef Gurapg

Ogfvgigrg; `aai rgshfhgdcg hd WS merjgt edi strad` `rawtl hdeff atlgr gxpart merjgts : sustehdgi praiuct hddavethad

?>>8 Lh lfh ltsStrad` rgoaudi ab ca`dec oushdgss hd baurtl quertgr

9?

PHDGS & S H_HYS

Phdg s & Sphrhts vhsue f


22/35

93

PHDGS & S H_HYS

?>>8 Lh lfh lts^ursugi hddavethad stretg`y edi

strad` edi ter gtgi cammudhcethad

Scerfgtt K aledssad, becg ab Mat & Clediads dgweivgrthshd cempeh`d

Dgw pecje`hd`; tlg Igsh d Oaxet Rguvg Cfhcquat editlg Jru` Yrge surg Oa xet Jru`

Clempe`dg oucjgt Bushad, bar _uhdert, cadcghvgi oy tlg erthstMeertgd Oees (damhdetgi es Igsh`dgr ab tlg Xger ?>>8 hd Mhemh)

Feudcl ab Lgddgssy Ofecj hd tlg WS

Cadthdugi raff-aut ab Lgddgssy Erthstry pfetbarm tlrau`laut tlg warfi

Succ gss ab davgfthgs et Eriog` edi @fgdmared`hg Eriog` redjgi ogst wlhsjy hd ?>>8 bar tlg sgc adi c adsgcuthvg yger(K hm Murreys Plhsjy Ohofg)

Feudcl ab Ogfvgigrg H\ edi mecgretgi vaijes

99

PHDGS & S H_HYS

?>>8 Lh lfh ltsCadbhrmgi vefug crgethad stretg`y, caupfgiwhtl strad` rgspadsg ta c rhshs

Mehdtehdgi prhcgs, edi gvgd sfh lt hdcrgesg

Strgd`tlgdgi cammgrchef pramathad

Eieptgi apgrethadef casts

Eikustgi c ammudhcethad casts Apthmhzgi ihstrhouthad dgtwarj Cadtraf ab eimhdhstrethvg casts

Apthmhzgi suppfhgs ab geux-ig-vhg edi `repgs

Cephtef gxpgdihturgs eieptgi ta crhshs shtuethad

_ephi rgecthad ta crhshs ab udusuef ihmgdshad


23/35

97

PHDGS & S H_HYS

5?7

57>

507

?>>

??7

?7>

?07

3>>

3?7

37>

307

5800 5808 58>7 ?>>0 ?>>8 ?>55 ?>53 ?>57

Clempe`dg slhpmgdt bargcestsoy CHRC

Saurc g; CHRC

2 ygers7-2 ygers

7 ygers

Hd mhffhads ab o att fgs

Ogttgr tled bargcest gdi ?>>8

_goaudi fhdjgi ta pest igstacjhd`

92

PHDGS & S H_HYS

?>5> AutfaajE``rgsshvg hme`g edi vefug c rgethad stretg`yta ogdgbht mast bram rgcavgry

Dgw stretg`hc hdhthethvgs ta ec cgfgretg `rawtl hd jgy merjgts

Strgd`tlgd merjgthd` pra`rems

Cadthdug praiuct hddavethad, bar sphrhts es wgff es clempe`dg

Mehdtehd prhchd` pafhcy cadshstgdt whtl oredi pashthadhd`

Shmpfhby fgèf structurg hd clempe`dg edi apthmhzg fa`hsthcs

ûrsug rhàraus cast cadtraf

Cadthdug ta strgd`tlgdfgeigrslhp hd fuxury whdgs edi sphrhts


24/35

PEYCLGS & K GPGF_X

^lhfhppg ^escef

9>>8

_gvgdug - 53%

rabht bram rgcurrhd apgrethads - 90%

Ar edhc `rawtl - 58%

?>>>8


25/35

98

PEYCLGS & KGPGF_X

?>>8 Lh lfh lts

Igcrgesgi igmedi, igstacjhd` et rgtehfgrs

Hmpravgi trgdis hd U9 edi hd Igcgmogr perthcuferfy

Strad` gxpasurg ta WS edi K eped,`aai rgshfhgdcg hd Gurapg edi pra`rgss hd Eshe

Merjgt slerg ehds bar YE@ Lgugr edi Luofat

Cadbhrmgi praiucthvhty ab rgtehf dgtwarj

_ghdbarcgi jgy fhdgs tlrau`l hddavethad edi pursuht ab

upmerjgt pashthadhd

Cast rgiuc thad, apthmhzethad ab hdvgdtarhgs

Yer`gtgi stretg`hc hdvgstmgdts

7>

PEYCLGS & KGPGF_X

Pe tcl gs & Kgwg fry vhsue f


26/35

75

PEYCLGS & KGPGF_X

?>>8 Lh`lfh lts - Petclgs

YE@ Lgugr Feudcl ab Madeca R9bar tlg 9>tl eddhvgrsery ab tlg caffgcthad

@aai pgrbarmedcgs ab Cerrgreedi Made c a fhdgs

Hdvgstmgdt hd mavgmgdts praiuc thad

Starg apgdhd`s; Yajya, Lad` Jad`, Oghkhd`, Sled`leh

Succ gssbuf raff-aut ab Mgrhihhstpladg hd Eshe

Luofat @redi prhx ig FLarfa`grhg ig @ gdvg

Succgssbuf feudcl ab Jhd` aw gr

Dgw eutamethc clrada`repl mavgmgdt Wdhca

Hdeu`urethad ab medubecturhd` pfedt hd Dyad

Starg apgdhd`s; ^re`ug, Iale, St Ylames, Hstedouf...

[gdhtl _gstructurgi medubecturhd` pfedt

9>tl eddhvgrsery ab mavgmgdt Gf rhm g raedi rgbacus ad c fesshcs

Starg apgdhd`s; Mascaw edi Iuoeh

Madtrgs Ihar Dgw vgrshads ab Clrhsteffhdg

Feudcl ab Mhdh I edi Clh bb rg _au` g i hv hd`

7?

PEYCLGS & KGPGF_X



27/35

73

PEYCLGS & KGPGF_X


79

PEYCLGS & KGPGF_X

?>>8 Lh`lfh lts - K gwgfry

Cleumgt

Rgry aai rgshfhgdcg a b awd rgtehf stargs

Succgss ab Fhgdsedi Et t repg-Mahfhdgs

Feudcl ab Fudg i g M hg fcaffgcthad

Igvgfapgi wetclgs; kgwgfry maigfs edi Iedi y Erty

Ig Oggrs

Cadthdugi pra`rgss ab cfesshc caffgcthads edi safhtehrgs

Feudcl ab Fatus fhdg

Brgi

Succgss ab kgwgfry vgrshads ab Barc g 5>fhdg

Feudcl ab eutamethc clrada`repl @fei he tgur


28/35

77

PEYCLGS & KGPGF_X

?>5> Autfaaj

Aokgc thvg ab merjgt slerg ehds hd e rgcavgry gdvhradmgdt

Mehdtehd rh`araus cast mede`gmgdt

Bacus ad igvgfapmgdt ab jgy merjgts, dateofy hd Clhde

Hddavethad edi praiuct crgethvhty cgdtgrgi ad hcads

Cgfgoretg YE@ Lgugrs 57>tl eddhvgrsery

^rharhthzg hdiustrhef hdtg`rethad ab YE@ Lgugr edi Luofat

Hmpravg praiucthvhty ab gxhsthd` rgtehf dgtwarjs

Rgry sgfgcthvg starg apgdhd`s

72

PEYCLGS & KGPGF_X



29/35

70

PEYCLGS & KGPGF_X


BESLHAD & FGEYLG_ @AAIS

Xvgs Cercgffg


30/35


31/35

25


Be slhad & Fge tlg r @a ai s vhsue f

2?




32/35

23


?>>8 Lh lfh lts

FAWHS RWHYYADGxcgffgdt pgrbarmedcg ab Iem hgr @rep l htg fhdg

edi ab avgreff Mgds oushdgss

Dgw papufer maigfs ab lhstarhc fhdgs

Succgss ab caffgcthads hd trhoutg ta Stgplgd Sprausg

Strad` pra`rgss ab atlgr praiuct cetg`arhgs

Feudcl ab lh`l-gdi kgwgfry fhdg crgetgi oy Fargdz Oumgr;F Emg i u Ra ye ` g

Mehdtehdgi strad` cammudhcethad Dgw hcadhc sters bar hdsthtuthadef cempeh`d

Dgw eivgrthshd cempe h`d cgdtgrgi ad jdaw-law

Ih`htef cammudhcethad

Hdcrgesgi gbbhchgdcy edi bfgxhohfhty ab Suppfy Clehd Dgw slag praiucthad shtg hd Htefy

Yejg-avgr ab e teddgry hd Ogf`hum spgchefhzhd hd praiucthad abfgetlgr teddgi whtl pfedt gxtrects

29




33/35

27


?>>8 Lh lfh lts

Bgdih; àai rgshfhgdcg edi gbbhchgdt hdvgdtary mede`gmgdt

Cadbhrmgi succgss ab fgetlgr àais fhdg ^ggjeoaa

Sgfgcthvg gxtgdshad ab starg dgtwarj

5>8; apgdhd`s hdMhiifg Gest edi Eshe

Iadde Jered; rgcari rgsufts hd e ihbbhcuft gdvhradmgdt

@aai rgcgpthad ta Beff ?>>8 beslhad slaw

Dgw Ceslmgrgfhdg

22


?>>8 Lh lfh lts

Merc K ec aos; safhi pra`rgss ab Me rc o y Merc Kec ao s fhdg,àai stert ab kgwgfry edi succgss ab dgw pgrbumg Fafe

@hvgdcly; succgssbuf hdtraiucthad ab cepsufgs caffgcthadsedi succgss ab Dh`lt hdèfgfhdg

Fagwg; strgd`tlgdgi abbgr hd fgetlgr edi eccgssarhgs

Ogrfuth; àai rgshstedcg iug ta succgssbuf feudcl ab chty slagsfhdg ^hgrrgedi pgrbarmedc g ab dgw tgrrhtarhgs(perthcuferfy Clhde edi Jarge)

Jgdza; rgarèdhzethad ab ihstrhouthad dgtwarjedi feudcl ab g-cammgrcg wgoshtg

Bhrst caffgc thads ab dgw igsh dgrs et Cfhdg edi ûcch


34/35

20



25> Autfaaj

Cadsafhietg tlg aai budiemgdtefs ab Bgdih

Strgd`tlgd hcadhc fgetlgr àais praiucts

Sgfgc thvgfy gxpedi starg dgtwarj, dateofy hd Eshe edi Gurapg

Cadthdug ta igvgfap tlg ster praiucts ab gecl fhdget Iadde Jered

Eccgfgretg tlg igvgfapmgdt ab Merc K ecaos,perthcuferfy tlg sgcadi fhdg

Yurd crgethvg rgdgwef ab Cfhdg, ûcc h, @hvgdcly edi Fagwghdta c ammgrchef succgssgs

Iydemhsm ab crgethvg tgems

Sgfgcthvg hdvgstmgdts hd starg dgtwarjs, pe rthcuferfy hdgmgr hd` merjgts

ûrsug rgar edhsethad ab atlgr oredis


35/35

28


?>5> Autfaaj

FAWHS RWHYYAD

Strad` mamgdtum hd crgethad edi cammudhcethad

Cadthdug hddavethad hd fgetlgr aais

Beslhad cempeh`d whtl Fere Stadg ediigvgfap Jdaw-Law c empeh d

Dgw gxcgpthade f fac ethads bar tlg Fauhs Ruhttad Yraply

Yer`gtgi gxpedshad ab starg dgtwarj

^rharhty ad mekar erclhtgc turef prakgcts

Apgd dgw Mehsad hd Fadiad

Shd`eparg starg hdeu`urethad

Dgw tgrrhtarhgs

0>



lvmh feb 2009 annual results presentation

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