Good morning, ladies and gentlemen. Welcome to the Eletromidia earnings conference call to discuss the first quarter of 2021. Pardon me, 2023. We would like to start with some instructions before we begin. Should you need simultaneous interpretation, please click the globe icon at the bottom of the screen and choose Portuguese or English. The video and the slides of this video conference will be made available on the company's IR website, ri.eletromidia.com.br, and on the CVM after the end of the trading session. Please note that all participants are in a listen-only mode during the video conference, and after that we will open the call to questions and further instructions will be provided. We would like to inform you that these forward-looking statements are subject to risks and uncertainties which may cause these expectations not to come to pass or to be materially different from our expectations. These forward-looking statements are based on the beliefs and assumptions of the company on the date they are made and do not need to be updated. With us today we have Alexandre Guerrero, CEO, and Ricardo Winandy, our CFO and IRO. I'd like to turn the floor over to Mr. Guerrero. Mr. Guerrero, please. Good morning, everyone, and welcome to our earnings video conference for the first quarter 2023. 2023 starts off with a movement that continues what we had in 2022, our focus on execution, robust growth, new concessions, and digital transformation. These were the pillars that guided the start of this year. Major events have resumed in the country, our investment in strategic projects in the course of 2022 delivered in the first quarter 2023 a record in gross revenue, BRL 196 million. That is a 48.5% increase year-over-year. As we increase our numbers and improve our results, our adjusted EBITDA reached BRL 51 million. That is a 142% increase compared to the first quarter 2022. Obviously, all of that takes into account the seasonality that is characteristic to our business segment. This year, Carnival was celebrated again, and with that, a company like ours had the opportunity to transform the urban experience. Major projects that allow brands to have visibility and reach their target audience. This is a competitive edge that the out-of-home, OOH, makes very powerful, and it's crucial for unique experiences, also reducing the cost of acquisition of our clients. In the first months of 2023, we executed a number of creative and immersive projects all over the city. Some examples are the Carnival campaigns that you can see on the screen. We also had a major festival, Lollapalooza. We had a number of creative solutions used. The Lollapalooza was an event where 100% of these lots were bought. We'll share with you some of the Eletromidia experience in this event. These videos are important because they give color to the figures that we present in our earnings presentations. Speaking of creativity, we have some other examples in our innovation hub that was once again responsible for many creative experiences in the main streets in the main cities of the country. We can see that this innovation hub has allowed the OOH creativity to reach a new level, and brands are really embarking on this experience. This is an interesting project that was also carried out over Carnival in the underground of Rio de Janeiro. With Lacta and Americanas, we created this egg vine, so to speak, transforming the urban experience. Talking about the Tembici partnership. We're taking content and information to the bike stations, and the bike stations are becoming more and more important as bicycles become a sustainable choice to move around. We're more excited to be now present in four new cities. Curitiba, where we're expanding the street furniture we already had in the city. Florianópolis, which is a new market to Eletromidia. Belo Horizonte, strengthening our presence in the streets. Porto Alegre, a complementary circuit to our city presence with a ramp up of our street furniture. This is a project that is created 100% digital, consolidating our experience, or our presence rather, in the streets vertical. That is in line with what we have been doing in the other cities of the country. This project represents a very important progress, one of the key changes that we're implementing in OOH. We're expanding our reach in 10 out of the 11 main cities under the Ibope monitor with an impact, a weekly impact of 163 million people. This is a watershed. This is a project that heralds a new era in the industry. Another important point we'd like to share with you is that in this first half of the year, we had our sales convention, and the main motto was reset. A new sales model that is based on the audience and using our ads platform as a key tool to plan, buy and promote campaigns. This is a very important milestone to our company, and you've been seeing that in our past earnings calls. Not only how our platform has been improving, but we now have this whole team working with ads. We had this training session, and all of the execution is now per the platform. We're going to be delivering planning per target and defense per target and products focused on the target. This tool already gives us some important insights, not only in sales but also in building and elaborating new projects. I'm gonna mention some of them to you. There is the Blast Ruas. That is a new product that is created already reaching 10 cities in street furniture with 100% digital itineraries. We have the Urban Isles. We have the Cities project, that alongside the naming rights is going to allow big brands to use the CPTM train stations, and the TV Minuto, which according to our survey is very efficient as an alternative for two-minute ads. These are alternatives for brands to relate to their audiences in different ways. Data and technology transforming our industry and giving us more interesting opportunities in the advertising market. We know that a company that is committed to innovating and bringing the best solutions to clients has to be attentive to the ESG impact. All of our initiatives are worth mentioning, but one is the diversity and inclusion project, Eletrovozes, that was launched in February this year. Since 2021, we've been working with a specialized consulting firm that has helped us in defining and setting our goals and with mobilizing the affinity and groups, training with leaders and talks with all of the teams. We're making very good progress, we now have the Women's Week and the diversity census. With that, we see the first impact of these actions, be it in new hires or in the organic dissemination with the staff strengthening the company's culture. Now I'd like to turn the floor over to Ricardo, who's going to be talking about the results, and then I'll come back for the final remarks. Ricardo, over to you. Thank you, Jairo. Good morning, everyone. I'd like to first and foremost thank everyone for being interested in joining our call today. In 2023, we see that audiences are back to a more normal level and with events that are very important to the sector, with carnival, with music festivals having more out-of-home impact. We also started the year with the main events that we had made in 2022 having an impact on our results. We had BRL 196 million in revenue in the quarter. That is 48% higher year-over-year, and it is a result of the performance, especially in the verticals streets and buildings. In our operating leverage we had an adjusted EBITDA that was BRL 51 million this first three months. It's 5.4x what we had in 2022 with a margin addition of 18 percentage points, getting to 27% EBITDA margin in the first quarter. This operating performance resulted in a net profit growth of BRL 9.8 million, getting to BRL 3.5 million in the quarter. We had operating cash at BRL 70 million, BRL 56 million higher than the previous year. Excluding the interest paid, which was. We had BRL 114 million in cash at the end of the period. We had 64,000 advertising panels, and 45,000 of those were digital. We had an increase of 4,500 street panels, adding 1,100 digital panels to the vertical in comparison to 300 in the previous year. That shows that we're improving also in the bus shelters, which is a concession that we had last year. An acquisition rather, that we had last year. We also see the growth in strategic partnerships with example of the Brazilian installations and the bicycle stations. Also with the effort in the digitalization or digitization of the installed base with 400 new assets in the streets of São Paulo. This quarter, we had 30,000 digital assets in buildings. That's an important milestone considering the efforts made in the two past years, especially in the residential vertical, which was created more recently. We had 3,300 new panels, new screens in the last year, increasing the network in 12% or 516 the last quarter. That's a very important growth in the vertical at an even faster rate since the IPO. In shopping malls, we added 88 panels on a nationwide base, that is a growth of 5%. We have also added new cities and shopping malls. With that, we now have an increase of 7,800 screens year-on-year, 4,100 of which are digital. In transport, we have given back two contracts in 2022, and in the Bahia Metro, that is in line with our strategy to focus on better projects with better margins. It's also worth mentioning that we have the objective of following the market standardization. As of 2023, the verticals in transport and airports are consolidated in the airport line to simplify the data. As we assess our sales development in the first quarter 2023, we noticed a gradual return to normalcy in comparison to the previous year. Some significant events such as the carnival and music festivals affected footfall in the main urban centers, and that increased appeal for brands that want to be associated with these occasions. Some areas that had been impacted as that of 2022 recovered in 2023, such as the passenger lifts in buildings. Would also like to highlight that we see a significant growth in gross revenue, 48% year-on-year, with BRL 64 million additional cash, especially in the street furniture vertical and building vertical, with a 144% and 33% increase, respectively. With this development, with this performance, the streets vertical now accounts for 49% of our revenue in comparison to 11% last year, and the building vertical is now 17% of total. Looking at a more normalized scenario and the investments that we have made, we're now redesigning our sales mix, always focusing on projects that will give more profitability. It's important to remember that advertising OOH sectors have clear seasonality with the first quarter being lower in revenue, and this year, specifically with the new administration taking office. Historically, the first quarter normally accounts for 15% of the revenue of the year, and the last quarter normally accounts for 35% of the year. This quarter, we had BRL 900. Or pardon me. With the results that we had this quarter, we reached BRL 938 million in the past or in the last 12 months, an increase of 71% year-on-year, and that's comparable with BRL 874 million that we had in 2022. Looking at that result, looking at our leverage in operations and our sales mix and our projects, we had an adjusted EBITDA of BRL 51 million and a margin of 27% in comparison to 9% year-on-year and 9% in margin. With this performance, our EBITDA was BRL 193 million in the last 12 months and a margin of 33%, almost threefold higher the figure we had last year with a 10 percentage points increase in margin. With this operating result, in spite of the impact that we had with financial expenses, with the increase of the Selic interest rate, we had an increase in our net profit that was BRL 9.8 million, getting to BRL 3.5 million in net profit in the quarter. In the last 12 months, we total rather BRL 115 million in profit with a net margin of 13% comparable to BRL 92 million from the previous year and BRL 93 million added to the net result, almost tripling the margin in the period. I'm gonna talk a little bit more about the cash flow. In the first quarter, there was a cash generation of BRL 70 million in comparison to BRL 14 million in 2022. That represents an growth of BRL 56 million year-on-year. If we exclude the BRL 44 million in interest that we paid, the cash generation in this period was BRL 114 million. That was impacted with the payables that we had last quarter, and that was historically favorable. The change or the impacts in the growth in this period also had an impact in our development. We invested BRL 33 million in the purchase of devices, especially for the streets assets such as the digital clocks in Recife and the digitization of bus shelters in Porto Alegre, as well as with devices that were bought for commercial and residential buildings. We also paid a concession fee upfront, BRL 18 million, referred to the bus shelter and clocks concession in the city of Salvador. That contract for the concession was signed at the start of the year. The installation should begin in June 2023. With that, we have BRL 56 million in investment in the quarter. We now had an amortization of debentures and loans that total BRL 84 million in the 3 months, and they were recomposed and they raised BRL 110 million capitals with the cost close to the current debentures. Our cash was BRL 205 million at the end of the period, and the net debt, BRL 515 million, 1.8 times the EBITDA of the last 12 months. With that, we present solid results in the period, maintaining the trend to grow margins and to have strong operating cash generation. We're confident that our strategy and investments in projects with better margins, combined with efficiency in capital generation management and working capital management, will allow us to continue to grow. Now I'd like to turn the floor back to Guerrero. The first quarter was consistent and based on a lot of discipline to execute that consolidates our vision and long-term strategy. We continue to prepare to make use of the best opportunities to seize them in the market and to forge technological and strategic partnerships. We continue to have a balanced, solid strategy in out-of-home, prioritizing growth and profitability. We're bold and we're determined, and we have a strong, powerful culture. That allows us to continue to make progress in the advertising market, especially in the out-of-home market. We can mention a few highlights in this first quarter. One is that major events are back, and that boosts our industry that benefits directly from this urban transformation. The digital urban furniture was expanded and combined with the four new Cities that all strengthens our streets vertical thesis. All of that is captured with an increase in margin. We have the first major national product in coverage and frequency, in digital coverage and frequency. The ESG agenda has become more and more important in our company and has been creating true impact. Our operating efficiency also is worth being mentioned. We had improvements in margins and also in cash generation. The new sales models based in audience. Based on audience rather, they should continue to grow and develop in the course of the year, ever more based in data and in indicators, taking our industry to a better level. I'd like to thank the Eletromidia team for the dedication and engagement in this first quarter. I'd like to thank the board of directors, our managers, our teams, and all of our clients. We'll continue to move ahead. Thank you all for this quarter with a lot of determination and devotion. Now we'll start the Q&A session. Thank you. We'll now start the Q&A session. To ask a question, please click the Q&A icon at the bottom of the screen and write your name, your company, and the language you're gonna be asking the question in. Once your name is called out, you will get a pop-up to unmute. You can then unmute and ask your question. If no one asks a question, our operator will read out the question that was sent in in writing. Just bear with us a second while we're collecting the questions. A question for Bernardo Guttmann from XP. Hello, everyone. Good morning. Guerrero, Ricardo, and Eletromidia team, thank you for taking my questions. I've got two questions. The first has to do with margins. The EBITDA margin was really consistent considering the seasonality of the start of the year. Last year, you had 8% and got to 45% at the end of the year, and now we have a much better or much higher starting point. What do you expect for the course of the year? Do you expect positive surprises looking at your business plan or from a commercial expenses, we could have more discounts because of the challenging macroeconomic scenario? The second question has to do with Grupo Globo joining your social capital. Is there any expectation for the antitrust authority to approve that? If you can give us any further information, that would be very interesting. Thank you. Thank you, Bernardo. First of all, let's speak about the margin. As I said when I was looking at the numbers when I was speaking about them, this year is more normalized with the audience levels closer to what is expected in some verticals that were distorted last year, such as residential buildings. We see the streets vertical playing a more important role, and that's what we have been investing most since the IPO. The new margin reflects this new scenario with this new product mix in a normalized revenue level. Of course, we'll always work to have positive surprises when it comes to margins. We know this is a challenging year. We are working with these initiatives and agreements and contracts to grow year-on-year. Of course, we'll always keep our fingers in the pulse looking at the macroeconomic scenario to see if there should be any adjustment considering the increase in revenue being the main driver in our margin growth. We're keeping our eyes on that. First of all, thank you, Bernardo, for your question. We start capturing value from this new mix in the streets and with some items bouncing back, such as buildings, right? Commercial activities, they're anxious, right? We have a team working with the advertising market to seize the best opportunities and also to be aware of any market fluctuations that can lead to more challenges in ours. As for the antitrust authority approval, Globo and Eletromidia, both companies have notified the operation. We have been interacting with the authority as we should, and our expectation is that the document be published in May, anytime now. The operation is probably going to be analyzed in the normal meeting. The project should be accelerated as much as possible, and we expect the transaction to be approved without any limitations or restrictions. We believe we'll be able to talk more about that in the month of May. Thank you very much. Thank you. Next question comes from Lucas Chaves from UBS. Thank you very much for taking my question. I actually have two. I'd also like to try and understand a bit more the 45% share of streets in the revenue, right? What should we expect for the future? Should it stay on this level, or was this a mix, you know, combining shopping malls as well? I know that there's more investment in streets. What should we expect in the course of the year for the streets vertical? That's my first question. The second has to do with investment. How did investments play out in this first quarter, and what do you expect for the rest of the year? Thank you. Lucas, thank you for your question. I'll take the first, and Ricardo will take the second. As for the streets vertical revenue, this is a trend we expect to continue in the year. It drives the out-of-home industry as a whole. To our company, this phenomenon has been taking place since we acquired Otima, more precisely. We closed the deal the first of April last year. The new concessions that will ramp up operations also have a component that should add value to revenue in this front. We expect it to grow this year. We don't give guidance as a company, and we won't say how much that front should go, but we see a growth trend, not only because the streets vertical continues to develop, but also because of digitization projects as well as new markets we're tapping into. That allows for the advertising market to have a demand that didn't exist before. That 10-city circuit is the first major project in the streets that we have standardized following the IBOPE monitor, and that is certainly an opportunity to capture value and to continue to grow the revenue of this vertical in our company. As for the investments, we are rolling out some concessions that we won last year, such as Recife and Salvador. Of course, we're making major efforts to accelerate the installation of these assets as much as possible and to start capturing revenue at the start of the year already. We continue with the installations in residential buildings too. We've done 560 in this first quarter. We're analyzing opportunities for digitization as well. In the form we published our proposal for investment, it's BRL 109 million when you look at devices and equipment in 2023. In this first quarter, we allocated BRL 23 million in total with a concession fee of BRL 18 million that goes in intangible assets. One point to complement the CapEx agenda. There's a clear plan for the execution as the market performs. People will look at organic growth, openings and digital transformations. We always try and do that as fast as possible to capture value in the course of the year. These are complementary agendas that add up to BRL 109 million, as Ricardo mentioned. They operate differently. Thank you. That's very clear. Thank you. To ask questions, please click the Q&A icon at the bottom of the screen. Please type your name, your company, and the language you're gonna be asking the question is in. When we call you, there will be a pop-up asking you to unmute your microphone. Then you can unmute and ask your question. Please bear with us a second as we collect new questions. We have a question from Cristian Faria from Itaú BBA. Can you hear me? Yes, we can hear you, Cristian. Hello, Ricardo and Guerrero. Congratulations on your results. I'd like to ask a question. We see good results in revenue growth, also in organic growth, right? When you compare Otima year-on-year. I'd like to understand from you, what do you expect in terms of this growth performance and the breakdown? Is it new clients that are coming to the market and are now using OOH when they weren't in the past? Is it an upsell in existing clients? Can you just give me some more color there, please? Thank you for your question. Both avenues complement each other. As we said in other instances, our return is virtually zero, our return rate. We see brands that already invest with us, and they continue to grow their investment in out-of-home, and that's really based on data and metrics. With that makes the whole conversation more comfortable and sophisticated, and also because they know more about this medium, and they feel more comfortable about investing there. This growth should be constant and continue in the coming years. The second point has to do with newcomers. We have tiers one, two, and three, and the long- tail SMB. That's a project that's going to take off this year, but we're not going to be capturing value there yet. There is a major universe in many categories and many industries for us to continue to address, to bring new brands to the out-of-home environment. There is a cycle in result generation and comfort generation and in creating a new cycle, new investments, and the budget definitions are normally yearly, so you don't necessarily capture value in the short term. Another important term, the brands have had a deep dive, especially during the pandemic in the digital front. We see that this movement has slowed down. Digital is growing but at a different pace, and the out-of-home is also going to benefit from that being a powerful tool to reduce acquisition costs alongside digital and open TV. I really believe these two avenues are complementary. We have been making good progress not only in the brand development that already invests with us, but also in getting new brands and new categories. There are categories that started three months ago and are already top 10 in some verticals. I think this is a bit of the context that I can give you around the growth avenues. All right. Thank you. We have a question from Yuri Golar. Good morning, and thank you for taking my question. Can you give us an update on the line of investment once the company has changed its levels when it comes to new business lines and the changes in concessions since last year? What is the level of CapEx maintenance that you expect from now on? Thank you for your question, Yuri. Last year, we invested BRL 83 million in the purchase of new devices. A part of that was from maintenance CapEx. We see a similar performance. Hundred and nine that I mentioned in the previous figure, BRL 109 million, about 10% is going to be for maintenance CapEx as it was last year, 10% out of the 83. This could be used as a proxy for revenue, and it should be between 1.5 or 2 or less for the expected maintenance CapEx in the future. We have two questions from Peter Tedesco, Global Ventures. Can you talk a little bit about the tax benefits, PERSE, P-E-R-S-E, and the impact on the results, and how long do you think this impact will last? Thank you. Congratulations on your results. PERSE is an emergency program for companies that were impacted during the COVID times. Basically brings to zero the PIS and COFINS taxes as well as other taxes for an undetermined period of time. With the provisional decree that we had at the start of the year, we had this benefit in this first quarter. This provisional decree is to be approved by the Congress as well. As of April, we should have normal rates when it comes to tax on the revenue. In income tax, the benefit should extend to the end of the year. Once again, if you would like to ask a question, please click the Q&A icon at the bottom of the screen, type your name, your company, and the language you're going to be asking the question in. There are no further questions, this is the end of the Q&A session. I now give the floor to Alexandre Guerrero for his final remarks. Thank you very much for joining the video conference to talk about the earnings of the first quarter. This is a year that starts off going in the direction that we wanted to go. There are loads of opportunities for us to seize. We hope that in the course of the year, we can continue to execute and follow on our thesis in a disciplined way. Thank you very much for joining. Have a great day. This is the end of the Eletromidia video conference call. Should you have any questions, please send them to the IR team on the email ri.eletromidia.com.br. Thank you very much for joining. Have a great day.