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Operating EBITDA in the fourth quarter of 2022 reached US$630 million, decreasing 1% on a like-to-like basis. EBITDA was higher in in three of our four regions, with the US and Europe growing double digit and high single digit, respectively.
Operating EBITDA margin decreased by 1.7pp from 18.0% in the fourth quarter of 2021 to 16.3% this quarter. While EBITDA margin declined, the contraction was the lowest of the year,