Good afternoon. Welcome to the Alupar Teleconference for the results of the fourth quarter of 2024. This is being recorded and translated into English. Just click on the button at the bottom of your screen. Interpretation and the presentation is also available for the download. All the participants will be just hearing it, and we will have the Q&A session, and the future events can have some uncertainties, and some expectations can't be carried out. Those predictions have only the date when they are carried out, and the company mustn't update it. We have here José Luiz de Godoy Pereira, as the CFO of Alupar, and Mr. Luiz Coimbra, the Investor Relations Head. Now I'll give the word to Mr. Coimbra. We'll start the presentation. Please, you can start it. Good afternoon. Thank you for the participation here. If we look at the program of our call, I will highlight the main events of this year, and then we will talk about the projects. We'll present the numbers of the company, and at the last, I will talk about the performance of the company in the capital market. The first thing that we have here is the dividend payment for the quarter. It was BRL 36.6, which is BRL 0.0366 per share. The payment was in the beginning of this year on January 6th. This amount represents a significant growth of this regarding the number that was distributed last year. Going to the next slide, we have another relevant highlighting, which is the rating of the company on January 10th. Fitch kept our rating with a national scale because it gives access to the market, and then it turns us into a competitive market. Everything was the contract of this company for the acquisition of the [Audio Distortion], which is the whole transmission line of Bahia. And the number of it is BRL 20.6 million. That's the value. And this is related to June 2024. And it includes the operation and regulatory approvals as well as ANEEL, among others. Going to the next session, we'll talk about the status of some ongoing projects, some that are significant. The first one is the TCE, the transmission line that we are building in Colombia. It is very advanced, but it was depending on the license of seven powers. So last October, we had the approval of those powers, and now actually six ones. Now in the end of January, we had the approval of the last one. Another one that is very important was the North region of ECP, and it has 35% of this physical advance. Then another project that was very important was the ELTE that had a very important relevance to us, and it's well evolved. It's inside your expectation as well as our deadline. We intended to conclude it to the end of this year. The last one, which is 8% of physical advance, and it has five steps, and we have the recognition of the revenue according to every step. Now we are in the first step of it, which is 11.8% of the total revenue. After that, we have another block with five projects, one in Colombia and three in Chile, one in Peru. They are well advanced. We had the environmental license, and the other ones we haven't had express advance. They are still in the engineering, hiring steps. So once they evolve in the next quarter, we bring more details about them. Continuing here with our program, now we'll go to the company's numbers. Starting here with the 3Q FY, the net revenue was BRL 1.123 billion. So a growth of 27.9%. The main impact here on this account was the increase of the monetary correction because of the inflation. So the IGP-M was 3.48% in view of the other ones that was last year. And the IPCA was 1.43% in the third quarter, 0.78%. Looking at the EBITDA, it was BRL 700 million around that. So a growth that was very similar to last year. The main thing that I would like to highlight here is the revenue growth, which was also we had another growth for the infrastructure for the projects of transmission that are being deployed. We had a growth of 6.2%. Actually, we had the PLD that was the average of BRL 260 in the view of BRL 78 before the same number that we had last year. The same account, the same growth that I highlighted is this 39% that it was because of the improvement of the TME because of the evolution of the deployment of the project. Going to the profit, it was BRL 100. Actually, it's a growth of 63% regarding the same growth in 2023. Here, I just would like to explain about the tax, which was BRL 81 million. This is because of the acquisition of the fiscal incentive in three transmissions. Still speaking of this, now we have the regulatory results. This revenue was BRL 787 million, which had the growth of 10.8% regarding the last quarter of 2023, and the transmission contributed to a transmission of 33%. We had two impacts. First, the commercial segment for the South region, and the second one was the resolution from ANEEL in 2024 that established the adjustment of those areas. Then another one, mainly because of the PLD, increased the operational sales, sale operations, especially Monsul, which is in Colombia. Going to the EBITDA, it was a number of BRL 654 million, so it was higher than the same higher than the number last year. Here, we had an increase of the revenue, and it was compensated by BRL 43 million for the acquisition of energy. The same impact that we had on the revenue. So looking at the profit, it was a total of BRL 98 million. The main impact was the increase of 38% in the EBITDA that I have just mentioned. We had an inclusion in the financial result because of the financial expenses. Here, we have these three main ones. The TCE, which was 55% of it. The second one was the devaluation of the real. We had the impact on the currency impact. And the last one, we had the hedge. And then this, so then it impacted the result. Going to the next slide, then we have presented here the debt. So it's BRL 835.3 million with the position of the cash of around BRL 1 billion. And then we had this net debt of BRL 471 million. And then we paid the last debenture, which has a cost of BRL 1.40. And then we also did a new chapter, which is six more, which goes to the CDI, which is 96.35. And then we have here consolidated debt, which is the growth, which is BRL 12 billion and 630 million, which the cash, which is BRL 90.138 billion, and the debt, which is the debt. And when we look at the consolidated debt, we didn't have significant improvements. The debt is 55%, which is related to the IPCA, and to the currency that was 15%. So going on here, now we show the results. So in compliance with all the dividends approved in the end of 2024, the board recommended this for the approval. And then we will have another distribution of dividends of BRL 76 million, which is BRL 0.29 per share. All the shareholders that are registered in the company by the end of this date will start being paid again on April 17th. We'll have the results at the end of April, which will represent the growth of 2024. Going to the last slide, the board here also recommended for the approval the increase of the capital, which is BRL 349 million, with the emission of other shares. The ratio here will be one new share for every 100 shares. We have here 38 million shares going with the ratio of it. We have the main numbers for the market. We have the value here of 80.45%. We have Ibovespa. Another point here that I have always highlighted here is our liquidity, which was BRL 27.8 million, which shows an increase of 15.5% compared to 2023, which was 2024. I finished my presentation here. Now we can start the Q&A session. To ask a question, please click on raise your hand. If your question is answered, you can leave the line. If you want to write your question, you can use the Q&A button. Please, you can wait until we have all the questions. Our first question here comes from [Audio Distortion]. Your mic is open. Good afternoon. Thank you for accepting my question here. I'd like to ask about the intermittency. So even though the company is not so representative, everything that is part of the assets of the company, which was below the third quarter of 2023, but I think that it has helped the company to have other costs regarding the acquisition of energy. So if you can talk a little bit about the regulatory issues such as reimbursement, layers, and everything regarding the renewable energy. Thank you. I think that the fourth quarter reflected on a project that we had of wind energy that had curtailment because of a delay of a transmission line. It was a project that belonged to Sterlite, but then it was sold, and it had a great delay, and then it is clear that it's a restriction because of some things. Regarding the general information, we need to have lots of dialogue among players from the sector and all the bodies. I think that we need to have an agreement in order not to have a problem as we had in the past, as well as other ones. We need to think about this model. I also think that there was a general failure because many agents shouldn't have access to some things. It has. So we should have a broader study to see who we should give access to and see how robust this system is to support everything. You must be following the media because we have lots of things regarding this topic. Let's see how things will be in the future. Our next question is from [Audio Distortion]. Good afternoon. Can you update us about the TME project? What is the expectation of the company about the RAP? And what is the value that you would like to have? And what is the operation? When does the operation start? And what is the expectation regarding LATAM projects? Can you talk about the leverage trajectory if you are going to continue with the bonus regarding the shares? Regarding the TME, the projects well advanced, 75% of physical advance. I think that we are going toward the right direction. We will get to the end of the year with this project, even though it's very challenging, but I'm sure that we'll get to the end of the year. There isn't a definition regarding value. I don't know if there is any schedule for that, but regarding, I don't remember what the last question was. The journey of the leverage, if you are going to continue with the bonus of the shares. Yes, we work with this leverage. We work within something that is reasonable. The bonus, we've been doing this in those last years, and I think it's been and it has been very important to the company, to the shareholders. And I think it's a policy that we can keep, as well as our dividend policy that we've developed, we've presented to the market, and we are going to fulfill this. Thank you. Next question comes from Mr.[Audio Distortion]. Good afternoon. Thank you for accepting my question, and congratulations for the outcomes. The first question is about things regarding abroad and LATAM. Is there any country that you'd like to focus on this year? And the second question is about Chile, if there will be an increase of opportunities. Thank you. It's very hard to say. I don't know exactly. I think there should be an analysis about the root cause for this blackout of this breakdown of the system. It's very hard to say what happened. Only after this investigation that we will have the conclusion of it. Regarding LATAM, we are present in those three countries, Peru, Chile, and Colombia. We've been there for many years. And every time we see an opportunity, we try to do something, but we are focusing on those markets where we know better. Thank you. Our next question comes from Mr.[Audio Distortion], and he says, has the company started exercising its buyback plan? Could you talk about the four-yearly reimbursement and how this impacts or benefits the company? We have this plan, this open plan, and we are going to keep it. When we think that it's a proper time, we will acquire it. Of course, there are other remarks, which is the liquidity, which is another concern that we have. So we have to look at the market. But our expectation is to keep this open buyback program. Next question comes from Mr. Peterson Silva from Alfa. He says, the electricity sector is highly attractive to investors due to the high yield distributed to the shareholders. However, when we compare this to other companies in the sector, including those with higher levels of debt, Alupar stands out as one of the companies that distributes the least dividends. How does the board see this, and what are the prospects for the future with regard to the dividend distribution policy? We have a policy that was approved and was communicated to the shareholders, and it's available here on our website, which is the dividend distribution. Regarding the payment of it, I think the main point here is to generate value to the shareholders. So I think if we compare ourselves to other companies, so as we are smaller, we have a growth that has been higher than the sector if we compare it to the average. So we can retain some part of the profit to keep the company. So the Q&A session is closed. The teleconference is closed. Thank you for attending this teleconference.