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3Q FY 2018 19 Financial Results – Reliance Industries Limited

Reliance Industries Limited · Jan 17, 2019 · 78 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

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  1. 3Q FY 2018 19 Financial Results – Reliance Industries Limited – slide 1
    3Q FY 2018-19 Financial Results 17 January 2019
  2. 3Q FY 2018 19 Financial Results – Reliance Industries Limited – slide 2
    Forward Looking Statements This presentation contains forward-looking statements which may be identified by their use of words like plans, expects, will, anticipates, believes, intends, projects, estimates or other words of similar…
  3. 3Q FY 2018 19 Financial Results – Reliance Industries Limited – slide 3
    Key Highlights : 3Q FY19 Record net profit of 10,251 crore first Indian private sector company to cross the milestone Robust earnings from energy businesses in a volatile and challenging environment Record consolidated PBDIT of…
  4. 3Q FY 2018 19 Financial Results – Reliance Industries Limited – slide 4
    Consolidated Financial Results : 3Q FY19 YoY turnover growth led by % Change % Change (in Crore) 3Q FY19 2Q FY19 3Q FY18 Q-o-Q Y-o-Y Petrochemicals volume growth - new capacity ramp-up Turnover 171,336 156,291 109,905 9.6% 55.9%…
  5. 3Q FY 2018 19 Financial Results – Reliance Industries Limited – slide 5
    Consolidated EBITDA: 3Q FY19 vs. 3QFY18 Consolidated segment EBITDA up 18.7% 1,416 427 22,628 Refining earnings impacted by challenging margin 23000 1,074 and demand environment 21000 2,581 38 Sharp fall in light distillate…
  6. 3Q FY 2018 19 Financial Results – Reliance Industries Limited – slide 6
    R & M Segment Performance RIL GRM at 8.8 /bbl, premium over Singapore at 4.5/bbl 11.6 Soft refining environment largely due to weak light distillate 10,000 12 9.5 8,000 8.8 cracks and demand, partly offset by 6,962 6,094 5,849 8…
  7. 3Q FY 2018 19 Financial Results – Reliance Industries Limited – slide 7
    Petrochemicals Segment Performance Record EBITDA, up 36.8 % YoY, 1.3 % QoQ 12,000 21.7 24 20.8 20.7 9,477 21 9,596 Strong QoQ performance driven by higher volumes 9,000 18 7,015 15 PE 10%, PP 9%, PX 3%, PTA 4%, MEG 5% 6,000 12 9…
  8. 3Q FY 2018 19 Financial Results – Reliance Industries Limited – slide 8
    Oil & Gas Segment Performance EBITDA improvement led largely by lower opex (de-hiring of FPSO linked to MA field) 600 50 511 500 473 385 40 Better gas realisations in domestic and US shale 29.1 43.2 400 30 operations also…
  9. 3Q FY 2018 19 Financial Results – Reliance Industries Limited – slide 9
    Retail Segment Performance Turnover at 35,577 crore, up 89% YoY, 10% QoQ 4.7 2,000 4.3 5 Revenue excl. Petro and Connectivity up 134% YoY 1,680 4 1,500 3.2 1,392 EBITDA at 1,680 up 177% YoY, 20.7% QoQ 3 1,000 EBITDA margin up 40…
  10. 3Q FY 2018 19 Financial Results – Reliance Industries Limited – slide 10
    Digital Services Segment Performance ( crore) 3QFY19 2QFY19 3QFY18 Best in class network supports unparalleled customer engagement Gross 12,252 10,901 8,114 Revenue 280.1 million subscribers Operating Revenue 10,383 9,240 6,879 Gross…
  11. 3Q FY 2018 19 Financial Results – Reliance Industries Limited – slide 11
    Refining & Marketing
  12. 3Q FY 2018 19 Financial Results – Reliance Industries Limited – slide 12
    Performance Highlights Sustained 4.5/bbl premium over Singapore GRM in a weak ( crore) 3QFY19 2QFY19 3QFY18 margin environment Revenue 111,738 98,760 75,865 Crude throughput stretched and mid-distillate yields GRM 8.8 9.5 11.6…
  13. 3Q FY 2018 19 Financial Results – Reliance Industries Limited – slide 13
    Business Environment Brent averaged 67.8/bbl in 3Q FY19 down 10% QoQ, up 10.4% YoY /bbl Oil Prices 100 Saudi Arabia, US, Russia and the UAE ramped up production; loss Price Quarter Quarter 3QFY19 (/bbl) Beginning End Avg of supply…
  14. 3Q FY 2018 19 Financial Results – Reliance Industries Limited – slide 14
    Global Refining Margins Environment Global Refining Margins Singapore GRMs down on QoQ basis 16 Strong gains in fuel oil unable to offset impact of 14 13.6 13.3 steep drop in light distillate cracks 13.0 12 11.6 Europe and US…
  15. 3Q FY 2018 19 Financial Results – Reliance Industries Limited – slide 15
    Regional Business Environment Middle Distillate Cracks Middle distillate cracks remain supported 18 15.4 15.8 15.6 Gasoil cracks held firm 15 14.4 14.1 13.3 Low inventory levels especially in the U.S. where 12 demand growth has…
  16. 3Q FY 2018 19 Financial Results – Reliance Industries Limited – slide 16
    Regional Business Environment Light Distillate Cracks Lower Light Distillate cracks 20 Gasoline cracks down 6.8/bbl QoQ 15 14.4 Slower demand growth in major markets with record 11.5 pump prices 10 Weaker car sales in China…
  17. 3Q FY 2018 19 Financial Results – Reliance Industries Limited – slide 17
    Regional Business Environment Fuel Oil and AL- AH diff Fuel oil cracks strengthened seasonally 3 2.3 2.3 2.2 Supply reduction from continuing refinery upgrades and 2 lower Iranian fuel oil exports owing to sanctions 1 Seasonally…
  18. 3Q FY 2018 19 Financial Results – Reliance Industries Limited – slide 18
    Robust Domestic Fuel Demand Growth Domestic Demand YoY RIL refinery product sales YoY MMT 1.7% 25 MMT 20.9 21.3 12.0 20 10.3 10.8 -2.4% 10.0 15 13.0 12.7 8.0 7.8% 0.9% 10 6.0 6.5 7.0 9.2% 4.6 7.9% 6.0 6.1 4.0 -11%…
  19. 3Q FY 2018 19 Financial Results – Reliance Industries Limited – slide 19
    Domestic Marketing Retail Strong retail volume growth Retail Outlets Gasoil: 10% volume growth vs. 2% for industry Gasoline: 25% volume growth vs. 8% for industry 1355 outlets maintaining highest per pump throughput in industry…
  20. 3Q FY 2018 19 Financial Results – Reliance Industries Limited – slide 20
    Domestic Marketing Bulk and Other Businesses Volume growth of 24% YoY; Market share improved to 8% Bulk HSD Well diversified customer portfolio spanning rail, STU, fisheries, mining and industries Maintained priority position with…
  21. 3Q FY 2018 19 Financial Results – Reliance Industries Limited – slide 21
    Strategic Advantage Continued to take advantage of arbitrage opportunities by sourcing US light grades and Responsiveness Canadian heavy grades Optimized opportunities for term contract with Arab Gulf / Latin American suppliers 3…
  22. 3Q FY 2018 19 Financial Results – Reliance Industries Limited – slide 22
    IMO 2020 Demand Support for Middle Distillates Revised bunker sulphur regulations (from 3.5% to 0.5% S) to be effective from 1st Jan 2020 Non-availability of adequate LSFO to result in Higher gasoil demand for blending/direct-use…
  23. 3Q FY 2018 19 Financial Results – Reliance Industries Limited – slide 23
    R&M Business Outlook Global oil demand growth estimated at 1.3 mb/d in 2018 and 1.4 mb/d in 2019 with impact of lower oil prices being offset by headwinds to economic growth and trade conflicts Refinery capacity addition estimated at…
  24. 3Q FY 2018 19 Financial Results – Reliance Industries Limited – slide 24
    Petrochemicals
  25. 3Q FY 2018 19 Financial Results – Reliance Industries Limited – slide 25
    Robust Financial and Operating Performance Financial performance reflecting strong volume growth and positive margin ( crore) 3QFY19 2QFY19 3QFY18 environment for key products (PX and PP) Robust operations leading volume growth,…
  26. 3Q FY 2018 19 Financial Results – Reliance Industries Limited – slide 26
    Business Environment 3Q FY19: Macro View Naphtha prices eased in 3Q amidst falling crude prices and lower gasoline blending demand 3Q Naphtha down 15% QoQ and 1% YoY Integrated naphtha crackers regained cost advantage over CTO…
  27. 3Q FY 2018 19 Financial Results – Reliance Industries Limited – slide 27
    Polymers 27
  28. 3Q FY 2018 19 Financial Results – Reliance Industries Limited – slide 28
    Business Environment Polymers 3Q FY19 domestic polymer demand up by 2% YoY Domestic Demand Growth (3Q FY19 Vs 3Q FY18) (9M FY19 demand up 6%) 12% 11% Infrastructure led cement demand growth resulted in healthy demand in Raffia sector…
  29. 3Q FY 2018 19 Financial Results – Reliance Industries Limited – slide 29
    Polymers Margins witnessed modest gain QoQ PP-Propylene HDPE-Naphtha PVC-Naphtha-EDC PP- Propylene 5 Year Avg HDPE-Naphtha 5 Year Avg PVC-Naphtha-EDC 5 Year Avg 319 800 582 600 300 626 494 259 590 600 557 216 410 400 200…
  30. 3Q FY 2018 19 Financial Results – Reliance Industries Limited – slide 30
    Polymers Operating Performance RIL Production Key Highlights Production 3Q FY18 2Q FY19 3Q FY19 RIL Polymer production up 17% YoY and up 5.7% QoQ (KT) Continuous efforts to achieve best-in class performance PP 697 698 763 across…
  31. 3Q FY 2018 19 Financial Results – Reliance Industries Limited – slide 31
    Business Outlook Polymer Chain Volatility in global crude prices likely to continue with geo-political uncertainty, trade tensions Feedstock and protectionism Global cracker operating rates likely to dip with ethylene supply from…
  32. 3Q FY 2018 19 Financial Results – Reliance Industries Limited – slide 32
    Polyester Chain 32
  33. 3Q FY 2018 19 Financial Results – Reliance Industries Limited – slide 33
    Business Environment Polyester Chain Slowdown in Chinese economy and industrial output impacted polyester and textiles markets Business in Canton Trade Fair recorded a dip from prior year event - first time in a decade PET markets…
  34. 3Q FY 2018 19 Financial Results – Reliance Industries Limited – slide 34
    Sustained Integrated Chain Margins Integrated Polyester Margin Overall polyester markets remained weak due to: 900 *Last 5 year Avg Margin Slump in crude oil and Naphtha prices impacting sentiments 800 700 US-China trade tensions…
  35. 3Q FY 2018 19 Financial Results – Reliance Industries Limited – slide 35
    Business Environment: Weak demand on global slowdown Polyester demand recorded negative growth of 8% YoY due to Domestic Demand Growth limited downstream buying (9M FY19 demand up 6%) (3Q FY19 vs 3Q FY18) Global volatility, cautious…
  36. 3Q FY 2018 19 Financial Results – Reliance Industries Limited – slide 36
    Polyester Chain Operational Highlights Production (KT) 3Q FY18 2Q FY19 3Q FY19 Production (KT) 3Q FY18 2Q FY19 3Q FY19 PX 975 1124 1159 POY 272 279 256 PTA 1157 1215 1257 PSF 177 172 153 MEG 367 415 438 PET 290 289 288 TOTAL…
  37. 3Q FY 2018 19 Financial Results – Reliance Industries Limited – slide 37
    Business Outlook Polyester Chain Global textile industry dynamics will be influenced by outcome of the US-China trade dispute, particularly after the end of the 90-day truce period Textile and polyester market to be guided by revival…
  38. 3Q FY 2018 19 Financial Results – Reliance Industries Limited – slide 38
    Oil & Gas
  39. 3Q FY 2018 19 Financial Results – Reliance Industries Limited – slide 39
    Domestic E&P - Production Update 3Q FY19 (JV Production) KG D6 Panna Mukta CBM Gas Production (Bcf) 6.08 13.47 3.21 Oil Production (mmbbl) - 1.08 - Gas realization (/mmbtu) 3.36 (GCV) 5.73 (NCV) 8.53(GCV) Oil realization (/bbl) -…
  40. 3Q FY 2018 19 Financial Results – Reliance Industries Limited – slide 40
    Project Updates KGD6 R-Cluster Development on track for first gas in 2H FY21 Drilling and Lower Completion completed for 2 wells out of 6 wells and 3rd well currently in progress First offshore installation campaign underway…
  41. 3Q FY 2018 19 Financial Results – Reliance Industries Limited – slide 41
    KGD6 Future Projects - Schematics Integrated Development Approach utilising existing infrastructure 41
  42. 3Q FY 2018 19 Financial Results – Reliance Industries Limited – slide 42
    Oil & Gas Shale Gas 42
  43. 3Q FY 2018 19 Financial Results – Reliance Industries Limited – slide 43
    Price Environment: US Natural Gas US NG Production Trends Dry Gas production at 85.0 Bcf/d, up 3.2 Bcf/d QoQ. 3Q FY19 avg. HH Gas prices at 3.64/MMBtu, +26% QoQ Marcellus differentials (discount) to HH improved 10% QoQ at…
  44. 3Q FY 2018 19 Financial Results – Reliance Industries Limited – slide 44
    Price Environment: WTI, NGL and HH WTI / NGL Q-o-Q WTI average lower by 10.1/bbl at 59.43/bbl in FY3Q19 Increasing US Production and US waivers on Iranian sanctions resulted in market to sell-off in November US oil production at 11.5…
  45. 3Q FY 2018 19 Financial Results – Reliance Industries Limited – slide 45
    Business Performance Highlights % Chg vs. % Chg vs. 3Q FY19 2Q FY19 3Q FY18 9M FY19 9M FY18 3Q FY18 9M FY18 Production (Bcfe) 20.9 21.2 32.4 -35% 65.9 100.6 -34% Revenues ( MM) 78 81 98 -20% 246 272 -10% EBITDA ( MM) -1 13 32 - 31…
  46. 3Q FY 2018 19 Financial Results – Reliance Industries Limited – slide 46
    Reliance Retail
  47. 3Q FY 2018 19 Financial Results – Reliance Industries Limited – slide 47
    Financial Highlights 3Q FY19 Revenues at 35,577 crore, up 89% Y-o-Y and 10% Q-o-Q 3Q FY19 EBITDA at 1,680 crore, up 177% Y-o-Y and 21% Q-o-Q EBITDA margin of 4.7% vs 3.2% last year Core Retail EBITDA margin at 7.2% vs 6.1% last…
  48. 3Q FY 2018 19 Financial Results – Reliance Industries Limited – slide 48
    Operational Highlights Registered 139 million footfalls during the quarter, a growth of 21% Y-o-Y Extended physical store presence to 6,400+ cities across India Added 780 store (1.1 mn sq. ft), now operate 9,907 stores covering 21…
  49. 3Q FY 2018 19 Financial Results – Reliance Industries Limited – slide 49
    Reliance Retails Growth Journey 9,907 Revenue 9,146 8,533 PBDIT 7,573 35,577 Revenue growth of Stores 32,436 3,634 3,679 3,751 24,183 25,890 102% CAGR* 18,798 Amongst the worlds fastest 14,646 1,680 growing retailers in…
  50. 3Q FY 2018 19 Financial Results – Reliance Industries Limited – slide 50
    Birds Eye View of Reliance Retails 3Q FY19 Performance 139 million 75 million 3 million Footfalls across all stores; Web visits on AJIO; AJIO app downloads; growth of 21% Y-o-Y growth of 56% Y-o-Y growth of 14% Y-o-Y 31 million…
  51. 3Q FY 2018 19 Financial Results – Reliance Industries Limited – slide 51
    Key Performance Highlights All Figures in Crore % Change wrt % Change wrt 3QFY18 Metric 3QFY19 2QFY19 2QFY19 3QFY18 18,798 Segment Revenue 35,577 32,436 9.7% 89% 606 EBITDA 1,680 1,392 20.7% 177% 3.2% EBITDA Margin % 4.7%…
  52. 3Q FY 2018 19 Financial Results – Reliance Industries Limited – slide 52
    Contribution from Consumption Baskets Revenue Mix 3Q FY19 Revenue Mix 2Q FY19 10% 9% 17% 17% 34% 34% 31% 33% Grocery Consumer Electronics 8% 7% Fashion & Lifestyle Connectivity Petro Retail 52
  53. 3Q FY 2018 19 Financial Results – Reliance Industries Limited – slide 53
    Reliance Retail Store Network Store Presence as on Dec 31, 2018 Reliance Retail Store Count by Region* Dec 31, Mar 31, 2018 2018 North 2,278 1,740 South 2,687 2,130 East 2,230 1,635 West 2,712 2,068 Total 9,907…
  54. 3Q FY 2018 19 Financial Results – Reliance Industries Limited – slide 54
    Performance Highlights Fashion & Lifestyle (1/2) 100 stores added across fashion & lifestyle consumption basket 10 Trends own brands with annual turnover Rs 100 crore of which 4 Trends witnessed strong growth backed by largest…
  55. 3Q FY 2018 19 Financial Results – Reliance Industries Limited – slide 55
    Performance Highlights Fashion & Lifestyle (2/2) Reliance Brands launched new multi-brand store The White Crow Featuring brands like Diesel, Marc Jacobs, Onitsuka Tiger, etc. Reliance Jewels crossed a milestone of 100 doors, now…
  56. 3Q FY 2018 19 Financial Results – Reliance Industries Limited – slide 56
    Partner of Choice for Global Fashion Brands 56
  57. 3Q FY 2018 19 Financial Results – Reliance Industries Limited – slide 57
    Performance Highlights Consumer Electronics Consumer electronics store network continues to grow rapidly Added 21 Digital stores and 640 Jio Stores Robust growth in retail revenues driven by Rapid store expansion Healthy…
  58. 3Q FY 2018 19 Financial Results – Reliance Industries Limited – slide 58
    Performance Highlights Consumer Electronics Wide portfolio of own brands across segments and categories offering aggressive opening price points Offers over 200 national and international brands Reliance Digital received awards…
  59. 3Q FY 2018 19 Financial Results – Reliance Industries Limited – slide 59
    Performance Highlights - Grocery Grocery category witnessed robust growth: 53% revenue growth during the comparable Diwali period1 driven by upbeat customer demand Robust growth across Staples, Home & Personal Care,…
  60. 3Q FY 2018 19 Financial Results – Reliance Industries Limited – slide 60
    Performance Highlights - Grocery Launched several new SKUs across food FMCG, home & personal care strengthening own brand portfolio Retail all major Food, FMCG & HPC brands Reliance SMART won Rapid Expansion with SMART Hyper…
  61. 3Q FY 2018 19 Financial Results – Reliance Industries Limited – slide 61
    Performance Highlights - Petro Retail Owned Outlets 514 owned retail outlets operational as of Dec 31, 2018 Recommissioned 2 outlets during the quarter Witnessed strong volume growth across petroleum products Ongoing initiatives…
  62. 3Q FY 2018 19 Financial Results – Reliance Industries Limited – slide 62
    Retail Summary Retail continues to double revenue Healthy festive season sales and new store openings resulted in another robust quarter Well balanced growth across all consumption baskets, driven by growth in footfalls and bill…
  63. 3Q FY 2018 19 Financial Results – Reliance Industries Limited – slide 63
    Reliance Jio
  64. 3Q FY 2018 19 Financial Results – Reliance Industries Limited – slide 64
    Q3FY19 Highlights Best in class network supports unparalleled customer engagement 280.1 million 32.7 million Rs 10,383 crore Rs 4,053 crore Subscribers Gross adds in Q3 Operating Revenue up 51% YoY EBITDA up 54% YoY 794 mins…
  65. 3Q FY 2018 19 Financial Results – Reliance Industries Limited – slide 65
    Jio continues to gain customer trust Jios mission is to connect everyone and everything, everywhere always at the highest quality and the most affordable price Subscriber Market Share (%) 23.9%* Best in class Network Performance…
  66. 3Q FY 2018 19 Financial Results – Reliance Industries Limited – slide 66
    and remains the service provider of choice Revenue share well ahead of Subscriber share Subscriber Market Share (%) AGR RMS (%) Jio is the Primary SIM as reflected in per capita voice and data usage 36.7%* 33.7% 29.6% Higher share…
  67. 3Q FY 2018 19 Financial Results – Reliance Industries Limited – slide 67
    Robust Customer Engagement Per capita voice usage (mins/ month) Per capita data usage (GBs/ month) 794 744 761 11.0 694 716 10.6 10.8 626 9.6 9.6 9.7 Sep-17 Dec-17 Mar-18 Jun-18 Sep-18 Dec-18 Sep-17 Dec-17 Mar-18 Jun-18 Sep-18…
  68. 3Q FY 2018 19 Financial Results – Reliance Industries Limited – slide 68
    Jio is now a 3 Exabyte Network Monthly Data Traffic (EBs) Live-TV, VoD & Music Multi-media content 3.1 2X Dec-18 Social Media 2.3 Per Capita data consumption stays E-Commerce healthy at 10.8GBs / Jun-18 month 1.5 Largest…
  69. 3Q FY 2018 19 Financial Results – Reliance Industries Limited – slide 69
    Next Generation Network Network scaling up with sustained All IP Network with largest fibre optic performance backhaul Data volume (cr GB) LHS Speed at Q-end (Mbps) RHS 21.8 864 Lowest call drop rate & improving every 20.6…
  70. 3Q FY 2018 19 Financial Results – Reliance Industries Limited – slide 70
    Financial Performance (1/2) Gross Revenue (Rs cr) Operating Revenue (Rs cr) +51% YoY +51% YoY 12,252 10,383 10,901 9,240 +12% QoQ +12% QoQ 8,114 6,879 Q3'FY18 Q2'FY19 Q3'FY19 Q3'FY18 Q2'FY19 Q3'FY19 *Gross Revenue is value…
  71. 3Q FY 2018 19 Financial Results – Reliance Industries Limited – slide 71
    Financial Performance (2/2) EBITDA EBITDA (Rs cr) Net Profit (Rs cr) +54% YoY Margin: 4,053 +65% YoY 39.0% 831 3,573 +13% QoQ 681 2,628 +22% QoQ 504 Q3'FY18 Q2'FY19 Q3'FY19 Q3'FY18 Q2'FY19 Q3'FY19 Industry leading…
  72. 3Q FY 2018 19 Financial Results – Reliance Industries Limited – slide 72
    Strong Operating Leverage 300 Op Revenue EBITDA All-IP LTE network 250 200 Substantial capacity creation 150 Operational efficiencies 100 50 Alternate revenue streams - Sep-17 Dec-17 Mar-18 Jun-18 Sep-18 Dec-18 *Op Revenue…
  73. 3Q FY 2018 19 Financial Results – Reliance Industries Limited – slide 73
    Key Operating Metrics Strong subscriber addition run-rate Net adds during the quarter at 27.9 million Lowest churn in the industry at 0.6% per month Double digit volume growth across voice and data Industry leading ARPU…
  74. 3Q FY 2018 19 Financial Results – Reliance Industries Limited – slide 74
    Jio Apps catering to multiple customer segments Full service app with MACD Prepaid Postpaid Indias no. 1 magazine app; Unparalleled content payments, Voucher, Loyalty, Troubleshooting, Virtual 800+ magazines from 50 publishers My…
  75. 3Q FY 2018 19 Financial Results – Reliance Industries Limited – slide 75
    JioSaavn Update Launch of integrated JioSaavn music app during the quarter New app combines the music services of Jio Music and Saavn Key initiatives new original content releases and programmatic ad deals 45M+ tracks under…
  76. 3Q FY 2018 19 Financial Results – Reliance Industries Limited – slide 76
    Home IoT Solutions from Jio Voice Assistant Home Automation Security Elderly/ Kids Care Smart Safety One stop control of Monitor visitors Control your home all lighting, and Secure your Monitor elders & Pro-active via voice…
  77. 3Q FY 2018 19 Financial Results – Reliance Industries Limited – slide 77
    Update on Scheme of Arrangement RJIL proposes to transfer its fiber undertaking and its tower undertaking to separate companies, through Scheme of Arrangement RJIL to enter into lease arrangements for long-term uninterrupted use of…
  78. 3Q FY 2018 19 Financial Results – Reliance Industries Limited – slide 78
    Growth is Life . . . . 78

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