Good morning, ladies and gentlemen, and welcome to the Eletromidia Earnings Conference Call to discuss the third quarter of 2023. We would like to share some instructions with you before we start. Should you need simultaneous interpretation, please click the globe icon at the bottom of the screen and choose Portuguese or English. The slide deck of this video conference is available on our IR website, ri.eletromidia.com.br, and on CVM. The video will be made available later on. Please note that all participants are in a listen-only mode during the video conference. After that, we will open the call to questions and further instructions will be provided. We would like to inform you that forward-looking statements are subject to risks and uncertainties, which may cause these expectations not to occur 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, our CEO, and Ricardo Winandy, our CFO and IRO. I would now like to turn it over to Mr. Alexandre Guerrero, who will start the presentation. Mr. Alexandre, please. Good morning, everyone. Ladies and gentlemen, welcome to our third quarter earnings conference call. Eletromidia has achieved significant milestones, which reflects our commitment to the media and technology market. We have solid financial results, and we have consolidated our presence in the main Brazilian advertising market segments. With continuous investment in innovation and technology, we are shaping the future of out-of-home media in Brazil, showing our transformative role in the cities. This operational growth can also be seen in our financial indicators, which will be presented in more detail by Ricardo Winandy later. Our revenue was BRL 667 million year to date. That is a 15% increase year-on-year. Our EBITDA was BRL 180 million. That is a significant increase, 41% year-on-year. These results reflect our ever-growing importance in the advertising market and the consolidation of the investments that Eletromidia has been making in the past years. In September, we announced an achievement, the concession of a substantial part of the Santos Dumont Airport in Rio de Janeiro. That strengthens our presence in the airports vertical and in Rio de Janeiro. We are already present in the Galeão Airport. With this concession, we will have an exclusive offering to both airports in Rio de Janeiro, reaching 100% of the public or audience visiting the Rio de Janeiro city, called the Marvelous City by Brazilians. We have also increased or extended our partnership with Tembici. Now we have urban mobility in Belo Horizonte as well, the third largest market in advertising. The project has 100% electric bikes. That's the first one in Brazil, and just like Curitiba, it's already launched with the sponsorship of the Estácio University. As you know, one of our objectives is to have a positive impact on the journey of people and cities. In August, we have officially launched the Guarded Bus Stop. We had Tarcísio de Freitas, the governor of São Paulo, and Ricardo Nunes, the mayor of São Paulo, with us at the event. We have announced over 100 stops over the country, 70 in São Paulo City and 20 in Campinas to start the project with, and 1 in Rio de Janeiro, and pardon me, and 10 in Rio de Janeiro. This is a project that allows women to feel safer while waiting for buses unaccompanied. We have so far had 1,200 calls of women requesting company. That shows that we really are contributing to these women who are waiting for their bus unaccompanied at night. I am going to show you a video to give you a better understanding of what it's like. Guarded Bus Shelter... wait safely without fear. Eletromidia created the project with partners, Guarded Bus Shelter. This is an initiative that created a lot of conversations. We use technology to make sure people are safe in a position of vulnerability. How do you feel with this new Guarded Bus Stop? I love it. Especially being a woman, I have had to wait for the bus late at night, and now I feel privileged to be at the bus stop that I always use and now have the Guarded Bus Stop with me. My bus is here. Thank you. Bye-bye. Take good care of yourself. It's more than a project. It's an out-of-home project that transforms. Guarded Bus Shelter. This is a project that won the Golden Lion in Cannes, and now it's helping women in Brazil, too. Over 1,200 so far. In this quarter, we had the first The Town, and Eletromidia had a fantastic commercial performance as usual. We were present at the event, and thanks to us, São Paulo looked like the new city of music in the 15-20 days prior to the event. We had a number of partners with us for this great project, and I also have a video to show you what we did. I think it... This is a good way to bring to our earnings call, what our delivery is like, and how the brands are transforming the city, and how we can, with event like this, transform São Paulo and have a great commercial leverage. We have been growing with every event that we do and with every year that goes by, so that we can deliver a better experience and more transformation to the brands. And the advertising market is making use of this narrative more and more. And we have now signed a contract with Rock World. It's an exclusiveness, pardon me, an exclusivity agreement. So we are the official partner for the next 5 years in Lollapalooza, Rock in Rio, and The Town. In Rock in Rio, next year, we will celebrate 40 years, and there's a lot to come. In 2024, we're going to accelerate our innovation journey even further. We are going to have a new approach in creative technology, the Augmented City. It's a new out-of-home media offering, right? That is going to be boosted by creative technology and creative production. That will allow for new ways to be communicative and to activate new services. This is an initiative that is based on the belief to extend reality with the idea of maximizing the reality of cities, with more technology and more creativity. This is a step in the direction of the certainty that the merging of real and virtual worlds can and should make the whole world more interesting, and that will enable new features and new use cases and opportunities for our business and for our advertisers. In 2023, we tested this theory. We were trailblazers in having the largest augmented reality experience in Brazil, in the largest music festival of the country, The Town. Working with the Dreamers Group, we were able to augment and improve the journey of over 500,000 fans at the event. We created a geospatial layer that was connected to the app of the festival. Through the The Town app and through our street furniture items, we delivered a new dimension, a new experience. There was a new way to interact with the festival and with the whole content we had at the app. At the core of this experience, we had our navigation system that allowed the fans to explore everything around them. They just needed to point their mobile phone to interact with over 350,000 square meters in the music town, with over 200 attractions around them. And there were filters or lenses that would allow them to focus on food or beverages, toilets, attractions, the agenda, and so on. And they didn't need to take their eyes off the stage to do that. We had validation of our proof of concept here when we noticed that 20% of the 300,000 fans that downloaded the app interacted with it. But it's not only interaction, right? It's a lot of interaction with high quality time being spent on the app. In 2024, we have news. To give more momentum to the market, we have devised with content the eight models for production and technology that are going to be used for more relevant experiences for our clients. These are the eight avenues that are going to allow our users to have a new format palette. Our sales upfront event, called Tomorrow, was where we launched it, and this is going to be available for all of them in special quotes for our main events and seasonal dates and special projects. As a creative exercise, just to understand better, make more palpable what the Augmented City project is going to be like, we can now imagine that, say, during Easter, we can go beyond adverts for a chocolate egg maker. We're now able to deliver, say, a platform that is even more thorough, connecting physical and digital and mobile out-of-home. We can have new engagement models with, say, an egg hunt, right? A virtual egg hunt. In October, we had Tomorrow, right, our upfront sales event that always takes place at the end of the year, and we talked about our media strategy for 2024. For two weeks, we had our main clients come over, and the main agencies come over to meet us, and we shared these new initiatives that we are going to have in 2024. As everyone expected, we already announced the partnership with Globo for the shows they have for this year, with the Big Brother Brasil, soccer matches, carnival, and other initiatives. Also with Valor Econômico magazine for the business journey. We also announced our already very important participation in the events that I already mentioned, right, in media and entertainment. Lollapalooza, the LGBTQIA+ Parade, Rock in Rio, Formula One, and so on and so forth. This is just an example of how our schedule looks in 2024 with our events, with our projects. Of course, the backbone is this, with that layer of technology on top of it. In 2024, there'll be more novelty to share with you. Our Eletromidia Ads platform has also got news. The platform was responsible for over 6,000 plans with a number of brands and over 100 agencies using their projects alongside Eletromidia. So now, with out-of-home, we have the same experience as in digital. Well, these were the main items, sharing with you some of our strategic approach, what we're going to be seeing in 2024. And now, Ricardo is going to be sharing more details around the financial figures we had in the third quarter, 2023. Good luck, Ricardo. Thank you, Guerrero. Good morning, everyone, and thank you for joining our call. Let's start off with the main highlights of this quarter. Our gross revenue was BRL 159 million, totaling BRL 667 million in the year, and that is 15% higher year-on-year. And the street vertical is a special highlight. Our EBITDA was BRL 79.5 million, and our margin was 35%. That's 59% higher quarter-on-quarter and 32% higher year-on-year. That totals in the year-to-date figure BRL 180 million and a 41% increase. Our net income was BRL 67 million in the last nine months, and that is a twofold increase year-on-year, with a net margin of 11%, and with operating cash flow before interest at BRL 31 million in the quarter and BRL 194 million in the year. Which shows that there's an EBITDA to operating cash flow conversion that is 108%, and we have a 39% increase year-on-year in operating cash flow. Talking a little bit more about our ad assets. We had 64,900 panels, 47,000 of which are digital. That is 72% of the whole network. There is an increase of 700 new assets quarter-on-quarter, especially in the digital front. In the street vertical, we had 153 new digital panels. Additionally, I mean, comparing to 2022, and we also had, now in total, 1,500 street furniture pieces, 62% higher year-on-year. We are now rolling out the assets in the concessions in Porto Alegre and Campinas we started last year. We also have the digital clocks in Recife, and we continue to install the bus shelters and the clocks in Salvador. We can also see the rollout of our strategic partners, the bike-sharing company, for example, that was announced in 2023, and we have already started implementing them in Belo Horizonte and Curitiba. In buildings, we now have 31,000 screens with over 2,000 elevators in the last year, mainly residential buildings here, and that's a 7% increase year-on-year. There were 330 installations in this last quarter. This is a vertical with a broad addressable market, and we continue to invest to increase our presence in it. In these verticals, we had an addition of 2,700 new points in the past, in the last 12 months, and 97, pardon me, 95% of those are digital. In transportation, we had 125 new assets installed, especially due to the digitization of our agreement with SuperVia in Rio de Janeiro. We had a decrease in transportation in the year because of two contracts that came to an end in São Paulo in 2022, and that is in line with our focus in project, our focus on projects with larger margins, and also considering the mix of products with new concessions in street furniture. Our revenue was BRL 159 million at the end of the quarter, and that's 22% higher quarter-on-quarter. Year-to-date, BRL 667 million in revenue, 15% higher year-on-year. We had a 9% increase year-on-year when we look at the same quarter, or 21% if we exclude the discontinued contracts. In the street vertical, we had a 42% growth year-on-year and 33% growth quarter-on-quarter. This figure already shows the impact of our investments in digitization. In transportation, we had a 28% increase quarter-on-quarter. The asset base is comparable. So there's the seasonality effect, but we also had the The Town event in São Paulo, and that had an impact on our contract with the CPTM trains for specific media and projects for those who were sponsoring the festival. And in the year-to-date figure, as I already said, we had BRL 667 million, that is BRL 87 million more year-on-year, a 15% increase, especially due to the performance we have had in street furniture and buildings. In the streets vertical, we had an increase of 81% comparing the last nine months to the same period in 2022. Now, this vertical accounts for 46% of our total revenue in comparison to 30% last year. This performance is a result of the consolidation of our investments, and that includes the new concessions, as well as the digitization of our base in São Paulo. Buildings was the vertical that grew most after streets. This especially because of the increase in residential and commercial buildings. We now have BRL 124 million, and the period is close to 19% of the total revenue. The out-of-home and advertising segment have their seasonality, right? And there is a concentrated result in the last quarter. It's normally 35% of the total revenue for the year. With this result in the third quarter, our gross revenue amounts to BRL 961 million in the last twelve months. That's a 22% increase year-on-year. As for our sales mix, considering our focus on projects with better margins and our cost control and expenses control, our EBITDA was close to 78, pardon me, close to 80 million. It was BRL 79.5 million, with a margin of 35% and a growth of 32%, excluding the PERSE effect in 2022.... that showed a 55% rise in comparison to the second quarter, and also the margin expansion of 8 percentage points quarter-on-quarter, considering our sales performance and our operating leverage. We had BRL 108 million in EBITDA in the first nine months or in the last nine months, right? With a margin of 30% and BRL 188 million in the year. I mean, comparing to BRL 128 million that we had last year, with 24% margin, right? I t's a 41% growth. We now have 47% in gross margin against 37% in the same period, and we are suspending contracts with lower margins. We continue to invest in technology and in the long-term projects in this period. Our EBITDA was BRL 204 million in the last twelve months, with a 35% margin and 60% growth in the same period last year. 60% growth year-on-year, of course, right? As for cash flow, in 2023 up to September, we had a conversion of 108% of our EBITDA for operating cash flow. Our operating cash flow was under BRL 94 million or BRL 98 million net, with the interest paid and the income tax, which is comparable to the BRL 70.5 million we had last year, a 39% increase year-on-year. We had investments around BRL 26 million in the quarter, and we had debenture capture of BRL 350 million, with a term of 5 years and a grace period of 24 months. That's in line with our previous emissions or issuances. This is in line with our extension of our indebtedness, focusing on the management of our liabilities, and our cash is BRL 105.8 million, with a net debt of BRL 577 million, which accounts for 1.9 times the EBITDA of the last twelve months, compared to 2.3 times last year. With that, we had yet another quarter with solid results. That is in line with the first quarter of the year, which already had substantial growth and a historical comparison, and we continue to increase our margins and digitization. We continue to digitize our approaches. And now, Guerrero, I would like to invite you back. Turn it back over to you. All right. I would just like to stress some important points concerning our results for the third quarter and the last nine months. So 41% rise in our EBITDA in the last nine months, right? That's a 41% growth year-on-year. That shows solidity and continuous growth. We had some important progress in our operating efficiency with ever more solid results. Another important point is the Guarded Bus Stop, where we already have had significant results with over 1,200 women calling us when they are waiting for the bus unaccompanied at night, and that's our purpose: to transform cities. We also want to highlight this new layer of technology, adding to the experiences we have and the new opportunities we're going to have over the year in connecting to the future of our business. I would like to wholeheartedly thank the whole Eletromidia team for their devotion and for strengthening our out-of-home position. I would like to thank our shareholders, our board of administration, and our clients. Our board of directors, rather. I would like to thank you all for joining us for another, very important quarter. N ow I am going to turn the floor over to the operator so that we can start the Q&A session. Thank you. We will now start the Q&A session for investors and analysts. Feel free to send your questions in writing using the Q&A icon at the bottom of the screen. We will then unmute you so that you can read your question. If you prefer not to read your question, our operator will read it. When you are called, a pop-up will ask you to unmute. Our first question comes from Bernardo from XP. Bernardo, please. Hello, Can you hear me? Hello, can you hear me? Yes, we can, we can hear you. Thank you. Good morning, Guerrero, Ricardo, and Eletromidia team. Thank you for taking my questions. My first question has to do with PERSE. I know that the comparison with last year was a bit distorted because of this fiscal incentive that you had in the period. So if you can just try and clarify this comparative base and what the impact was last year. M y second question has to do with the project pipeline with Globo. Can you give us some color on the roadmap that was presented, the start date, and how important these projects are for you? Thank you. Perfect, Bernardo. Thank you for your questions. Starting with the PERSE question. Again, PERSE is the emergency program to resume the events segment. T his was a program for companies that were impacted by COVID, and that had a BRL 14 million impact on our results in EBITDA and net income. And if we deduct that effect, considering that we don't have this benefit this year, the benefit applied for 12 months last year. So without that, we have a 12% increase in net income, and our EBITDA increase is 32%, as I mentioned in the presentation, and our net income is 76%. And in the year-to-date figures, it was BRL 17.6 million, the impact, when you compare the last nine months and you look at the year-on-year comparison. If you exclude that, the impact is 58% on EBITDA. A 58% increase. Thank you for your question. As for the partnership with Globo, as I mentioned in the presentation, we have had this first contact with the advertising market at our event called Tomorrow. And Manzar, our partner from Globo, the Chief Business Officer from Globo, and the teams are working together to start to plan for 2024. We have business. Wait, pardon me. We have Big Brother Brasil, one of the biggest products in the advertising market. All of the shares have already been bought for advertising in the show, and we already start working with the experience in the journey, right? We're a complementary tool for streaming, open TV, digital, printed press, so we are a complementary layer on their experience. So the advertising teams are working together. Many projects are already being planned. The idea is that we can have complementary actions to open TV, and that's going to permeate the main events, right? Be it Big Brother Brasil, soccer matches, and carnival. The business journey, which is also very good with the Valor Econômico Magazine and CBN radio station. We are going to be speaking about the connection between São Paulo and Rio de Janeiro flights, the main buildings in Faria Lima, and the opinion makers mall. This is something that we have been mapping from the side of this partnership. The projects are getting to the market. Now, the commercial teams are working with the brands, and these projects are also going to have this layer of technology with augmented reality. Globo is a partner of Lollapalooza, Rock in Rio. These are events where we're also our partners, and this will also contribute to this complementation that we have between the two of us. So there is this approach where we're complementing each other, and we're writing a new chapter in the out-of-home chapter, right? We have never tapped into that. We have always planned out-of-home through that universe, and now we start looking at the 360 perspective, right? The whole of the consumer's journey. The deliverables, the products, and certainly the results at the end of it, be it the sales of businesses and services, is going to be much better for the brands. So that's already begun. It's going to continue in the coming months, and we're going to test models. We are going to have open innovation and a lot of complementation going on, so that Globo and Eletromidia can make these initiatives come to fruition. Thank you. Thank you. Bear with us a second while we are getting the next questions. I would like to remind you that questions should be sent in writing using the Q&A tool at the bottom of the screen. You will then be asked to unmute your microphone so that you can read your question, and if you should prefer not to read your question, our operator will read it for you. When your name is called, a pop-up will ask you to unmute. Cristian Faria from Itaú BBA has the next question. Cristian, please. Good morning, everyone. Can you hear us? Yes, we can hear you. Thank you. Morning, Guerrero. Morning, Ricardo. Congratulations on your results. I have got two questions. I would like to understand a little bit more about the Tomorrow event and what the feedback from the clients was, looking at out-of-home budget allocation, especially in 2024. If you see an increase in demand compared to 2023, you mentioned new projects alongside Globo and new assets that start to be traded in 2024. I would like to understand this dynamic and also your expectations for the fourth quarter. In the third quarter, we already see an acceleration, but the fourth quarter has a very strong comparison basis, right? So I would like to try and understand these points, too. Thank you. Good morning, Cristian. Thank you for your question. Starting with the Tomorrow event, we innovated this year. The two previous years, when we had the first additions of the event, it was a virtual event for 1,500 people, 1,500 people looking at the advertising market. What we did this year was, at our office in São Paulo, we had our 25 main clients visit us so that they would have two weeks to be able to hear about the new points that are coming this year, next year, and also organize the package renewal and contract renewal. With that, there's better planning, not only for us, but also for the brands. They can look at their business in more advance. The out-of-home industry has been planning more ahead, right? As the market grows, the sophistication of conversations is also increasing, and people have been looking at business challenges and how they can be addressed. That was great. So, in 2024, our sales potential is around BRL 600 million. That's our target and when you look at our whole project pipeline that I showed you. When I showed you the calendars, Lollapalooza, Formula 1, other more specific initiatives that we have for Carnival. So we still have the opportunities with Globo and Augmented City. So these are new initiatives that we are developing. T hat all points towards a very interesting year in 2024, and we understand that what we're doing is really in line with what should be happening with the out-of-home industry. We understand that this industry is still growing two digits a year, and it's going to continue to do so for the years to come, from the information that we have, not only from abroad, but also looking at the expectations in investments. There is tailwind. An industry like ours should continue to grow, as should other industries. The Tomorrow event was very positive. Our clients were very happy with our initiatives, and the teams are working side by side with the brands. The idea is that we have the 30-35 days. We're going to have 30-35 days for the JBPs, the joint business plans to be put together. This is the first point around Tomorrow. The second point, your question was around our expectations for the fourth quarter, right? As you said, there is very clear seasonality in our business, and we have been delivering in line with the seasonality the whole year. The fourth quarter is the one with the highest amount in sales. We see that in October already, and November and December should follow suit. We have most of our revenue and our results in this period. We have the Black Friday event, we have Christmas. There's the end-of-year behavior, which is also very recurrent. And that also points to a better 2024 for Eletromidia and the whole out-of-home market to continue to grow. So what we have been planning our forecast, and we can't give you guidance. Remember, we don't give guidance. So we're in line with what was planned for the end of the year, and our commercial activity and our execution increases a lot in this last quarter. We're capturing value not only from seasonality, but also, there's a whole movement that started in the past, which is the new assets that we have been rolling out the whole year, looking at new markets such as Salvador, Curitiba, Porto Alegre, Recife, and the digitization round we had in São Paulo, that is coming to an end in the next fortnight, and it started in September. A ll of that will give us a broader menu, a better geography for a company like ours to boost our operations at the end of the year, increasing our sales volume and improving our sales and our results. That's crystal clear. Thank you. If I may just ask a follow-up question. So the pre-sales value for the PSV for tomorrow, can you compare it to 2022 so that we have a reference? There are different characteristics for different companies, right? Eletromidia is changing every year because we have been awarded new concessions. We have had new challenges that we have overcome, so we will probably be a different company in our next video conference call with new public and private opportunities that we are to garner in the next three months. In the last Tomorrow event, also considering our maturity levels, was around BRL 300-400 pre-sales value. So we have made an important progress here that shows not only that our business is more mature, and then the whole company and business are more mature. We're learning how to deliver a better experience, a more robust experience. The Town broke records in revenue. We have now the 40-year anniversary of Rock in Rio in 2024, and the Carnival and the summer are going to be very intense, right? Because this, the one we had last year, was the first one after the pandemic, so it was a bit more challenging, so next year should be better. And there are other opportunities, other important business opportunities for us to be present in many other cities in the country. We have, for example, the agribusiness event in Rio Grande do Sul. There's the summer festival in Salvador, and there's the carnival with our presence in Florianópolis, Belo Horizonte, Recife. So this is something we have never had. A platform like Eletromidia never had that. So it is a rise of 30%-40% in pre-sales value for 2024. All right. Crystal clear. Thank you. Thank you, and congratulations on your results. Thank you for your question. Eduardo Rubi from UBS has the next question. Mr. Rubi, please. Good morning, everyone, and thank you for taking my question. Could you give some more color on the transportation to streets, verticals, transfer in investments? Right. You touched on it, but can you just go into more detail? Thank you for your question, Eduardo. The streets vertical is the most important vertical in the out-of-home universe, right? There is a clear service provided to the population, and historically, it has high margins. The pre-acquisition had an EBITDA margin of 40%. As we grow our presence in this vertical, we announced some new concessions in locations such as Campinas and Porto Alegre. There are five new ones that were announced this year, and also the long-term agreements in Salvador and Recife. With that, we penetrate the vertical further. We increase our reach with the vertical. The transportation vertical is important, too. We continue to have good representation in it, a good share in it. It accounts for 27% of our revenue, so it is still very significant, and it contributes to our mix in the journey, right? We see good opportunities in infrastructure development in Brazil with new calls for proposal, new bids in other cities that didn't have a lot of street furniture. So we see a good opportunity for long-term agreements with good margins and with this increase in the share, right? So streets is now 46% of our total revenue. It used to be 30%. It was 11% in the first quarter last year. Just to complement on what Ricardo is saying. A company like ours plays a very important role in transportation. We have three subway lines in São Paulo, the whole of CPTM, and also our presence in Rio de Janeiro. T his is a, a business that contributes a lot to the journey. So we work in the five verticals that we do, the five main ones, and we grow as the market opportunities arise. An example is the Santos Dumont Airport. Airports has lower margins than, the streets vertical, but it's very important when you think about the business, the audience, right, and, and people who travel between São Paulo and, and Rio. We're going to be reaching out 100% of the, flyers in, in Rio with both airports having our concession. So we can have a balance for brands to find their audiences. So when we don't renew a concession, there is an impact on our revenue, but not necessarily, an impact in margin. Because we're growing in streets, we're taking advantage of opportunities that present themselves. In concessions, there are new concessions that are on our radar, and we're going to be taking part in the bids, and we really believe that we need to have an IRR that is healthy, and well, these are the outlines of our business. So transportation continues to be important, and having our presence in the five verticals is an advantage of our company. So all right. Fantastic. Thank you for your answer. Thank you for your question. Our next question comes from Fred. His question is the following: What were the main drivers for the margin pickup year-on-year, and also the concessions that are being ramped up? Thank you for your question. When we compare our third quarter margin on a year-on-year comparison, we have substantial growth with 35% EBITDA in this period, 5 percentage points higher year-on-year. When we delve into the details, the results come mainly in the gross profit, right? It goes from 37%-47% in a yearly comparison. Also, considering our transfer costs with the concessions. That is related to our project review. There are projects that we decided to let go of because they had lower margins, and we have increased our street share. We have talked about that already. So when you have a year-on-year comparison, there's a 42% increase in streets and an 18% decrease in transportation, and that has an impact on the margin that works along the revenue composition, considering our operating leverage. Thinking about the concessions that are ramping up, Fred, we have many execution fronts. We have been saying that on all our calls. There's Porto Alegre. When you get a concession for a street furniture, a very important point is that it's 3-5 years, a lot of execution, so that you can renew everything out there in the city, especially when you talk about bus shelters. Clocks are a bit simpler and faster. In Recife, we're very close to concluding the project. We will probably finish it in the first quarter next year. Salvador, Porto Alegre continue to move on very powerfully. In Campinas, we have the last year of investment in the post-MOOHB acquisition, MOOHB. In São Paulo, we continue to grow. We continue to increase the digitization of our assets. That's a very important item, very important data, because that has an increase in value added for campaigns and ads. And in markets with Tembici, for example, such as in Curitiba, I think we have 95% of the rollout already. Belo Horizonte starts this month, and Florianópolis starts next month, as well as Salvador, as well as Porto Alegre. So we have a lot of execution going on, many fronts. We can make available on our IR website what the indicators are for our rollout in every agreement, so that you can also keep track of what's going on there. Next question from uncertain. His question is the following: What is the expectation for revenue growth in 2024 and 2025? Thank you for your question, Alexander. We don't give guidance around growth in 2024 and 2025, but as I said, our expectation for the out-of-home industry is that it will continue to grow with favorable tailwind. I think this is the first point that is in our favor, and the second point is when you look at Eletromidia, we have many products, pardon me, many projects that are maturing because of the ramp-up of the installations, which is what we just covered in the previous question. W hen we look at 2024 and 2025, we can see that we have the capacity to capture more revenue from the advertising market in a more substantial way. So we have more maturity in some projects, new projects, and there's a tailwind in the industry. The Eletromidia Ads platform is being more and more used. We have over 6,000 plans being devised in the platform, and this number is continuing to grow. There are other initiatives that are going to take place, and that will allow for this, whenever there's a new public-private concession, we should grow, our industry should grow, our company should grow, and out-of-home continues to have a greater share. T his is something that happened all over the world, where out-of-home has a better development. In Brazil, it has been growing and is going to continue to grow in the coming years. We're very optimistic about our market, and I think this is a good backdrop to wrap up this message around the two coming years. If there are no further questions, we will now end the question and answer session, and we will turn it over to Alexandre Guerrero for his final remarks. Thank you very much. I would like to thank you all for joining our call. To wrap up, I would like to show you a video. It's a very interesting video that shows how Eletromidia finds its position in a more and more technological market. So thank you very much, and we're going to play the video. It's a short video, but it will allow you to see what we understand is coming in the future of our company. A universe that is evolving constantly, and light is no longer the fastest thing there is. Einstein, in his analog era, didn't see the leap we had, the innovation in the 21st and 22nd century. In the 21st century, rather. We continue to see the world changing, and there are new innovations and advancements, and we see how limitless our potential is. Smart cities are also limitless. They continue to develop more interactively and more vividly. These are cities that become works of art, and we have the technology intertwining with the landscape and impacting people's journey. There is real-time interaction and information, entertainment all over the place. Cities become more and more functional, sustainable, and charming. Walking around the streets and seeing customized ads that will just charm those walking past. We can see, say, what the weather forecast, the air quality is, and all of that while we wait for the green light across the street. The city is unfolding right before our eyes with the promise of an ever greater future, and Eletromidia is spearheading and leading this development with smarter cities. Smart cities are a reality, and we are the main players in this transformation. Together, we're going to build a tomorrow where technology and the urban aspects of the city are going to intertwine with human minds. This is the end of our Eletromidia conference call. Should you have any questions, please send them to our IR team at the email, ri@eletromidia.com.br. Thank you very much. Thank you for joining.