€0 to €1 Million: Exact 5-Year Plan for Building One Blog From Scratch

money

Building a blog from zero and turning it into a business capable of generating €1 million is one of the most attractive ideas in online entrepreneurship.

You do not necessarily need a large investment.

You do not need an office.

You do not need employees on day one.

You do not even need a large audience when you start.

What you need is a combination of a valuable niche, consistent publishing, search visibility, audience development, monetization, and the discipline to reinvest what the website eventually earns.

The important thing is to understand what “€1 million” actually means.

There is a major difference between:

  • generating €1 million in cumulative revenue over five years,
  • generating €1 million in annual revenue,
  • generating €1 million in profit,
  • or building a blog that could potentially be sold for €1 million.

This plan focuses primarily on the first objective: building one blog from €0 toward €1 million in cumulative gross revenue over five years, while also showing how the business can evolve toward much larger annual revenue.

The numbers below are illustrative targets designed to create a business model and operating plan. Real results can be dramatically different depending on the niche, competition, content quality, search visibility, conversion rates, monetization, and execution.

Google’s current guidance also emphasizes that successful search content should be helpful, reliable, original, and created primarily for people rather than simply for search-engine traffic.

That principle should be at the center of the entire five-year strategy.

The Core Business Model

The business can be reduced to a simple formula:

Content → Traffic → Audience → Trust → Conversion → Revenue → Reinvestment → Scale

Every stage matters.

A blog without content has nothing to attract visitors.

Content without distribution may remain invisible.

Traffic without trust produces weak conversions.

Trust without monetization produces an audience but not necessarily a business.

Monetization without reinvestment makes scaling difficult.

The objective is therefore not simply to “write a lot of articles.”

The objective is to build an increasingly valuable digital asset.

By the end of five years, the ideal result is not merely a blog containing thousands of articles.

It is a website with:

  • strong organic visibility,
  • a recognizable brand,
  • thousands of useful pages,
  • multiple revenue streams,
  • an email audience,
  • commercial relationships,
  • returning visitors,
  • direct traffic,
  • proprietary content,
  • data,
  • systems,
  • and a repeatable publishing process.

That is a business.

Before Year One: Choose the Right Business

The biggest mistake you can make is starting with content before deciding what the business is going to be.

Do not begin with:

“What should I write about today?”

Begin with:

“What problem am I going to solve, for whom, and how can solving that problem eventually generate revenue?”

That question changes everything.

Choose a niche with economic value

A potentially attractive blogging niche should have several characteristics:

  • enough search demand,
  • large numbers of long-tail queries,
  • recurring problems,
  • commercial products or services,
  • affiliate opportunities,
  • opportunities for consulting or services,
  • opportunities for digital products,
  • opportunities for sponsorships,
  • opportunities for email marketing,
  • and enough depth to support years of content.

Examples could include:

  • technology,
  • AI,
  • software,
  • SEO,
  • digital marketing,
  • business,
  • careers,
  • education,
  • specialized hobbies,
  • travel,
  • professional services,
  • consumer technology.

You do not necessarily want the biggest niche.

You want a niche where attention can be converted into economic value.

The niche should support multiple monetization models

Imagine two niches.

Niche A has enormous traffic but almost no products, services, affiliates, or commercial intent.

Niche B has less traffic but offers:

  • software affiliates,
  • consulting opportunities,
  • advertising,
  • sponsorships,
  • digital products,
  • memberships,
  • and lead generation.

Niche B may be considerably more attractive as a business.

This is why niche selection should happen before keyword selection.

The Five-Year Target

A useful high-level target could look like this:

YearRevenue TargetMain Objective
Year 1€10,000Validate the business
Year 2€50,000Build predictable traffic and monetization
Year 3€150,000Scale content and commercial pages
Year 4€300,000Build a serious digital business
Year 5€490,000Scale toward €1M cumulative revenue
Total€1,000,000Five-year cumulative target

This is intentionally aggressive.

The first year is not supposed to look like the fifth year.

You start by proving that strangers will visit the site.

Then you prove that they will trust it.

Then you prove that some will buy something.

Then you scale the system.

Year One: Build the Foundation

The objective

The first year is about validation.

Do not obsess over €1 million during the first few months.

Your first question should be:

Can I build an audience around this topic?

Your second question:

Can that audience eventually be monetized?

Your third:

Can I repeatedly produce content that attracts that audience?

Months 1–2: Build the website

The first two months should focus on infrastructure and strategy.

You need:

  • a domain,
  • reliable hosting,
  • a content management system,
  • analytics,
  • search monitoring,
  • a simple design,
  • clear navigation,
  • category architecture,
  • author information,
  • About page,
  • Contact page,
  • privacy/legal pages where applicable,
  • XML sitemap,
  • basic technical SEO.

Do not spend months designing the perfect website.

The website is the container.

The content and business model are the engine.

Google recommends logical site structures and relevant internal linking so users and search systems can discover important pages efficiently.

Months 1–3: Build the first content architecture

Before publishing hundreds of articles, identify approximately:

10–20 core topics.

For each core topic, identify:

  • broad questions,
  • beginner questions,
  • advanced questions,
  • comparisons,
  • tutorials,
  • commercial queries,
  • alternatives,
  • case studies,
  • tools,
  • common problems.

For example, an AI-focused blog might have:

AI Tools

AI for Business

AI Productivity

AI Writing

AI Marketing

AI Automation

AI Software

Each category becomes a content cluster.

Publish the first 50 articles

A reasonable first milestone is:

50 genuinely useful articles.

Not 50 pages written simply to fill the website.

Fifty articles that collectively establish what the website is about.

A possible distribution:

  • 10 pillar articles
  • 20 supporting guides
  • 10 commercial articles
  • 5 tutorials
  • 5 original research/case-study articles

The exact numbers can change depending on the niche.

Months 4–6: Find the winners

By this point, you should begin analyzing which subjects receive:

  • impressions,
  • clicks,
  • rankings,
  • backlinks,
  • engagement,
  • email signups,
  • affiliate clicks,
  • leads.

Do not treat every article equally.

Some pages will perform poorly.

Some will outperform everything else.

The winners tell you where the market is.

If five successful articles all belong to one topic, that is a signal.

Build more around it.

Months 6–12: Start monetization

Once the website has meaningful traffic, introduce monetization gradually.

Possible options include:

Affiliate marketing

Recommend relevant products and services.

Advertising

Use display advertising where appropriate.

Services

Sell consulting, audits, development, writing, design, or another professional service.

Lead generation

Connect visitors with relevant commercial providers.

Digital products

Sell templates, guides, courses, reports, or tools.

Do not cover the entire website with advertisements from the beginning.

The goal is to build an audience first.

Year One target

An illustrative Year One target could be:

€10,000 cumulative revenue

The actual number could be €0, €2,000, €10,000, or much higher.

The real achievement at the end of Year One is not the revenue number.

It is proving:

People are finding the website, reading the content, returning, and taking commercial actions.


Year Two: Turn Traffic Into a Repeatable Business

Year Two is where the project changes.

You are no longer asking:

“Can this blog work?”

You are asking:

“How can I make the system work repeatedly?”

Increase the content library

A target could be:

150–250 total high-quality articles by the end of Year Two.

That does not mean publishing low-value content simply to reach a number.

Google explicitly advises against producing large amounts of content across many topics simply in hopes that some pages will rank, and emphasizes original, comprehensive, people-first content.

The important metric is not:

articles published

but:

useful assets created.

Create content clusters

Suppose the site has 15 major topics.

Each topic should eventually have:

  • a pillar page,
  • supporting guides,
  • comparison pages,
  • commercial pages,
  • tutorials,
  • FAQs,
  • case studies,
  • internal links.

This creates depth.

Start updating old content

Do not assume that publishing a new article is always better than improving an existing one.

Every month identify:

  • pages losing traffic,
  • pages ranking on page two,
  • pages with high impressions but low clicks,
  • pages with outdated information,
  • pages receiving traffic but generating no revenue.

Then improve them.

Google’s documentation recommends keeping content up to date and making meaningful improvements rather than simply changing dates.

Build an email list

This becomes increasingly important.

Search traffic is rented attention.

An email subscriber is a direct audience relationship.

Offer something genuinely useful:

  • a checklist,
  • a guide,
  • a report,
  • a newsletter,
  • a database,
  • a template,
  • a useful tool.

Then communicate regularly.

Begin direct partnerships

Once traffic becomes meaningful, contact companies directly.

Instead of waiting for advertising networks, you can potentially sell:

  • sponsored articles,
  • newsletter sponsorships,
  • featured listings,
  • banner placements,
  • commercial partnerships,
  • lead-generation packages.

Year Two target

Illustrative target:

€50,000 annual revenue

Cumulative:

€60,000

At this point, the business should ideally have several revenue streams rather than only one.

For example:

Revenue SourceIllustrative Year 2
Affiliate€20,000
Services€12,000
Advertising€8,000
Digital products€5,000
Sponsorships/leads€5,000
Total€50,000

These numbers are an example of diversification, not a forecast.


Year Three: Scale What Works

Year Three is where you stop treating every article as an experiment.

You should have enough data to understand:

  • your best topics,
  • your best keywords,
  • your best traffic sources,
  • your best conversion pages,
  • your most profitable products,
  • your strongest affiliate relationships,
  • and your most valuable audience segments.

Now you scale.

Expand successful content clusters

If “AI tools” is responsible for a large portion of traffic and revenue, do not randomly move into gardening, celebrity news, automotive content, and recipes.

Go deeper.

Build:

  • software comparisons,
  • individual software reviews,
  • alternatives,
  • tutorials,
  • use cases,
  • pricing guides,
  • industry-specific applications,
  • beginner guides,
  • advanced guides,
  • case studies.

This creates topical depth.

Create original research

This can become one of the strongest assets on the website.

Instead of another article saying what everyone else says, publish:

  • surveys,
  • statistics,
  • experiments,
  • original tests,
  • datasets,
  • industry reports,
  • case studies,
  • comparisons,
  • benchmarks.

Original information gives other websites a reason to reference your work.

Google’s guidance specifically highlights original information, research, reporting, analysis, and first-hand experience as characteristics of useful content.

Build a recognizable brand

At this stage, stop thinking only about rankings.

Build:

  • recognizable visual identity,
  • consistent authorship,
  • expert contributors,
  • newsletter,
  • social presence,
  • direct traffic,
  • community relationships.

You want visitors to remember the website.

Introduce a premium product

By Year Three, the blog should ideally have at least one high-margin product.

For example:

€49 guide

€99 course

€199 professional package

€499 consultation

€999 service package

The exact product depends on the niche.

The key principle is:

Turn expertise into something people can buy.

Year Three target

Illustrative annual revenue:

€150,000

Cumulative:

€210,000

A possible model:

Revenue SourceAnnual Revenue
Affiliate€50,000
Services€35,000
Digital products€30,000
Advertising€15,000
Leads/sponsorships€20,000
Total€150,000

The important development is that the website is no longer dependent on one monetization source.


Year Four: Build a Real Digital Company

By Year Four, the blog should no longer be viewed as a personal project.

It should operate as a business.

Create systems

Document everything.

Create procedures for:

  • keyword research,
  • article production,
  • fact checking,
  • editing,
  • publishing,
  • internal linking,
  • updating,
  • image production,
  • outreach,
  • affiliate management,
  • email marketing,
  • analytics,
  • conversion optimization.

The goal is to make the business less dependent on your individual daily effort.

Reinvest aggressively

At this stage, revenue should finance growth.

Suppose the business generates:

€25,000/month

Instead of withdrawing everything, allocate some of it toward:

  • writers,
  • editors,
  • developers,
  • researchers,
  • SEO specialists,
  • designers,
  • content updates,
  • software,
  • original research.

You are buying back your time.

Build multiple content formats

A mature blog can become a media platform.

One article can become:

Article

Newsletter

Video

Social post

Podcast discussion

Infographic

Lead magnet

One research project can therefore create multiple distribution assets.

Develop direct revenue

The more successful the website becomes, the more important direct relationships become.

Potential revenue can include:

  • sponsored content,
  • premium listings,
  • advertising packages,
  • enterprise services,
  • consulting,
  • licensing,
  • data products,
  • premium memberships.

Year Four target

Illustrative annual revenue:

€300,000

Cumulative:

€510,000

At this point, you have passed the halfway mark toward the €1 million cumulative objective.


Year Five: Push Toward €1 Million

Year Five is about scale.

You now have something extremely valuable:

data.

You know:

  • what people search for,
  • what they click,
  • what they buy,
  • which pages convert,
  • which topics produce revenue,
  • which products work,
  • which partners perform,
  • which content needs updating.

You should not guess anymore.

You should make decisions based on actual business data.

Expand the winning areas

If one section generates 40% of the revenue, it deserves serious attention.

Expand it.

If another section generates traffic but almost no revenue, either improve monetization or determine whether its strategic value justifies keeping it.

Traffic is useful.

Revenue is useful.

Profit is even more useful.

Increase revenue per visitor

One of the most important Year Five objectives should be improving:

Revenue per visitor

Suppose you have:

1,000,000 monthly visitors

and generate:

€50,000/month

That equals:

€0.05 per visitor

If optimization increases that to:

€0.10 per visitor

the same traffic generates:

€100,000/month

You doubled revenue without doubling traffic.

This is why conversion optimization becomes increasingly important as the business matures.

Develop high-value offers

If the website has authority, introduce higher-value products.

Instead of selling only a €20 ebook, you might have:

  • €29 guide,
  • €99 course,
  • €299 premium package,
  • €999 consulting,
  • €5,000 business service.

The right price depends entirely on the market and value delivered.

Year Five target

Illustrative annual revenue:

€490,000

Cumulative:

€1,000,000

The five-year model therefore becomes:

YearAnnual RevenueCumulative
1€10,000€10,000
2€50,000€60,000
3€150,000€210,000
4€300,000€510,000
5€490,000€1,000,000

Again, this is a business-planning scenario, not a prediction.


The Content Production Plan

A five-year business needs a serious content strategy.

One possible publishing schedule could be:

Year One

100 articles

Focus:

  • foundations,
  • topical authority,
  • long-tail searches,
  • initial commercial pages.

Year Two

150 additional articles

Focus:

  • expansion,
  • commercial content,
  • comparisons,
  • tutorials,
  • supporting content.

Year Three

200 additional articles

Focus:

  • advanced topics,
  • original research,
  • commercial expansion,
  • international opportunities.

Year Four

200 additional articles

Focus:

  • scaling successful categories,
  • high-value topics,
  • industry research,
  • commercial content.

Year Five

200 additional articles

Focus:

  • strategic expansion,
  • high-value keywords,
  • content gaps,
  • emerging opportunities.

That would produce approximately:

850 published articles

over five years.

But there is another possibility.

Instead of creating 850 new articles, you could create 500 exceptionally strong articles and spend substantial time improving them.

Quality and usefulness matter more than hitting an arbitrary article count.

Google explicitly says there is no preferred word count that content should target.


The Keyword Strategy

Do not build the entire website around the biggest keywords.

A more practical structure is:

10% broad topics

Large concepts with substantial competition.

30% medium keywords

Specific subjects with meaningful demand.

60% long-tail searches

Specific questions and problems.

For example:

Instead of targeting only:

“SEO”

you might target:

  • how to audit a small business website
  • how to improve internal linking
  • SEO checklist for WordPress
  • how to find technical SEO errors
  • SEO strategy for local businesses
  • best SEO tools for freelancers

Thousands of smaller searches can collectively become a large traffic source.

Google’s current documentation also notes that its language systems can understand how pages relate to queries without requiring creators to anticipate every exact wording variation.

That means you should write for the topic and user intent rather than mechanically repeating exact keyword variations.


The Internal Linking Strategy

Internal linking becomes increasingly important as the site grows.

Imagine you have:

20 main topics

with:

40 articles per topic

You now have hundreds of relationships between pages.

Create logical connections.

A beginner guide should link to the advanced guide.

A comparison should link to individual reviews.

A pillar page should link to supporting pages.

A supporting page should link back to the pillar.

Google says its systems analyze site link structures to understand useful shortcuts and recommends logical navigation and relevant internal links to important pages.

The objective is to create an information architecture that makes sense to both visitors and search engines.


The Monetization Ladder

Do not wait until Year Five to monetize.

Introduce monetization progressively.

Stage 1

Affiliate links.

Stage 2

Display advertising.

Stage 3

Services.

Stage 4

Lead generation.

Stage 5

Digital products.

Stage 6

Sponsored content.

Stage 7

Memberships or premium products.

Stage 8

High-ticket services.

This creates several ways to monetize the same audience.

A single visitor might:

  1. read a free article,
  2. join the newsletter,
  3. click an affiliate link,
  4. purchase a product,
  5. later become a consulting client.

The lifetime value of that visitor can therefore be substantially greater than the value of the first pageview.


The Email Strategy

Email should start early.

You do not need 100,000 subscribers.

Even a small but relevant audience can be valuable.

Imagine:

20,000 subscribers

and only 5% purchase a €100 product during a campaign.

That would be:

1,000 customers × €100 = €100,000

The actual result could be much lower or higher.

The key is that email gives you a distribution channel that is not entirely dependent on search rankings.

Build multiple email sequences

For example:

Welcome sequence

Introduces the brand.

Educational sequence

Provides useful information.

Product sequence

Introduces relevant offers.

Weekly newsletter

Keeps the audience engaged.

Reactivation sequence

Brings inactive subscribers back.


The AI Strategy

AI can become a productivity multiplier, but it should not replace the value of the website.

Use AI for:

  • brainstorming,
  • research organization,
  • outlines,
  • summarization of your own notes,
  • content repurposing,
  • editing,
  • data analysis,
  • idea generation,
  • workflow automation.

But the final content should contain something that is genuinely yours:

  • experience,
  • testing,
  • original research,
  • examples,
  • analysis,
  • opinions clearly presented as opinions,
  • unique data,
  • practical knowledge.

Google’s current guidance says AI-assisted content still needs to meet its general quality and spam requirements, and warns against using automation primarily to manipulate rankings.

The winning model is therefore not:

AI → 1,000 generic articles

It is:

Human expertise + AI assistance + original information + editorial quality


The Backlink Strategy

You do not need to purchase thousands of backlinks.

A better long-term strategy is to create things worth referencing.

Examples include:

  • original studies,
  • statistics,
  • free tools,
  • calculators,
  • research reports,
  • industry surveys,
  • useful databases,
  • visual resources,
  • comprehensive guides.

Then promote them.

Potential outreach targets include:

  • journalists,
  • bloggers,
  • industry publications,
  • researchers,
  • communities,
  • relevant businesses.

The best link-building strategy is often connected to something genuinely useful.


The Traffic Milestones

A possible five-year traffic progression might look like this:

StageIllustrative Monthly Organic Traffic
First 6 months0–10,000
End of Year 110,000–50,000
End of Year 250,000–200,000
End of Year 3200,000–500,000
End of Year 4500,000–1,000,000
End of Year 51,000,000+

These are not expected results.

Some websites will grow faster.

Some will grow much slower.

Some will never reach these levels.

Google itself notes that search results are dynamic and that there is no guarantee that changes to a site will produce a particular ranking or traffic outcome.

Therefore, these figures should be treated as planning milestones, not promises.


The €1 Million Revenue Architecture

By Year Five, the business should ideally not depend on one revenue stream.

A hypothetical mature revenue structure could look like:

Revenue StreamAnnual Revenue
Affiliate marketing€250,000
Services€200,000
Digital products€200,000
Lead generation€150,000
Advertising€100,000
Sponsorships€100,000
Total€1,000,000

This is only one possible model.

Another website might generate €700,000 from services and €300,000 from affiliate marketing.

Another might generate €500,000 from products and €500,000 from advertising and sponsorships.

The exact distribution should follow the economics of the niche.


What You Should Do Every Week

A five-year plan becomes manageable when converted into weekly actions.

Every week:

Content

Publish useful new content.

Updating

Improve existing pages.

SEO

Review rankings, impressions, clicks, indexing, and technical issues.

Monetization

Improve commercial pages and conversion rates.

Audience

Build the email list.

Promotion

Reach out to relevant websites and communities.

Research

Look for new topics, products, trends, and opportunities.

Analytics

Identify what generated traffic and revenue.

Strategy

Double down on what is working.

This cycle repeated for five years can create a very different business from the one you had at the beginning.


What to Stop Doing

A major part of the five-year strategy is knowing what not to do.

Do not:

  • publish random topics,
  • copy competitors,
  • produce thousands of low-value AI pages,
  • chase every trend,
  • obsess over keyword density,
  • buy questionable backlinks,
  • depend on one affiliate program,
  • depend entirely on Google,
  • ignore email,
  • ignore conversion rates,
  • spend months designing the website,
  • constantly change niches,
  • delete successful pages without analysis,
  • measure success only through traffic.

Google’s current Search Essentials emphasize helpful, reliable content and warn against tactics designed primarily to manipulate search rankings.


The Biggest Difference Between Year One and Year Five

In Year One, you are the system.

You research.

You write.

You optimize.

You publish.

You promote.

You analyze.

In Year Five, the system should work without requiring you to personally perform every task.

You should ideally have:

  • documented processes,
  • editorial calendars,
  • freelancers or specialists,
  • content editors,
  • automation,
  • analytics dashboards,
  • repeatable SEO workflows,
  • standardized publishing,
  • predictable monetization.

Your role gradually changes from:

writer

to:

publisher

to:

operator

to:

business owner.

That transition is critical.


The Reinvestment Flywheel

Suppose Year Two produces:

€50,000

Instead of treating all of it as personal income, reinvest a significant portion.

For example:

€20,000 → content

€10,000 → development

€5,000 → marketing/outreach

€5,000 → tools and infrastructure

€10,000 → owner/profit

The following year, better content and systems can potentially produce more revenue.

Then more revenue can finance more growth.

This creates:

Revenue → Reinvestment → More Assets → More Traffic → More Revenue

The flywheel is one of the most powerful characteristics of a digital publishing business.


The Three Numbers You Should Watch

Do not track 100 metrics just because analytics software provides them.

Three numbers are particularly important.

1. Organic traffic

How many relevant people are discovering the site?

2. Revenue per visitor

How effectively does the website monetize attention?

3. Profit

How much money remains after operating costs?

A website with 1 million visitors and poor economics may be less valuable than a website with 200,000 highly commercial visitors.

The ultimate objective is not maximum traffic.

It is maximum sustainable business value.


The End Goal Is Bigger Than €1 Million

If the five-year plan works, €1 million should not necessarily be the end.

The website could eventually become:

  • a media company,
  • an affiliate business,
  • a software business,
  • a consulting company,
  • an educational platform,
  • a marketplace,
  • a membership business,
  • or a combination of several models.

The blog is simply the starting point.

The real asset is the combination of:

Audience + Brand + Content + Search Visibility + Data + Distribution + Monetization

That combination can be worth significantly more than the individual articles themselves.

Final Five-Year Roadmap

The entire strategy can be simplified into five stages.

Year 1 — Prove It

Build the website.

Choose the niche.

Publish the first 100 useful articles.

Develop topical authority.

Get the first visitors.

Make the first money.

Target:

€10,000 cumulative revenue.

Year 2 — Systemize It

Expand the content library.

Build email.

Improve SEO.

Introduce more monetization.

Create commercial content.

Build partnerships.

Target:

€50,000 annual revenue.

Year 3 — Scale It

Double down on successful topics.

Create original research.

Launch digital products.

Increase affiliate revenue.

Build services.

Develop the brand.

Target:

€150,000 annual revenue.

Year 4 — Professionalize It

Create systems.

Build a team.

Expand content production.

Increase direct partnerships.

Improve conversion rates.

Build high-value offers.

Target:

€300,000 annual revenue.

Year 5 — Optimize It

Scale the best categories.

Increase revenue per visitor.

Expand products.

Expand services.

Improve email monetization.

Develop direct traffic.

Build the business as an independent asset.

Target:

€490,000 annual revenue.

Cumulative:

€1,000,000.

The Final Principle

The most important lesson is that a €1 million blog is not created by writing one incredible article.

It is created by building a system that repeatedly produces useful content, attracts the right audience, converts that audience into customers, and reinvests the resulting revenue into the next stage of growth.

The journey begins with €0.

Then comes the first visitor.

Then the first email subscriber.

Then the first affiliate commission.

Then the first €100.

Then the first €1,000 month.

Then the first €10,000 month.

Then the first €100,000 year.

Eventually, if the economics, market, execution, and traffic all develop successfully, the numbers can become much larger.

The crucial transition happens when you stop thinking of the project as:

“a blog that I hope will make money.”

and start treating it as:

“a digital business that uses a blog as its primary customer-acquisition engine.”

That difference in thinking determines how you choose the niche, how you create content, how you monetize visitors, how you reinvest revenue, and how you build the company.

The objective is not simply to publish 1,000 articles.

The objective is to build 1,000 digital assets that collectively create an audience, authority, traffic, leads, customers, revenue, and business value.

That is the real path from €0 to €1 million.

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