I call the meeting to order.
Welcome, ladies and gentlemen. This morning, we will be hearing from Mr. Toews, Mrs. d'Auray and Mr. O'Sullivan.
I would like to simply mention that Mr. Toews will be with us until only 10 o'clock, but that Mr. O'Sullivan and Mrs. d'Auray will remain here in order to answer any of your supplementary questions. We will therefore begin with Mr. Toews. After his presentation, we will have a first round of questions and answers.
Mr. Toews, good morning. We're happy to have you with us this morning.