Good afternoon. Welcome to Unidas conference call, where the results for the first quarter of 2022 will be presented. At this moment, all participants are connected only as listeners. Later, the Q&A session will be opened when instructions will be given for you to participate. If assistance from an operator is required during the conference call, simply press star zero. This conference call has simultaneous translation into English. Questions can be asked normally by participants connected abroad. Questions can also be asked over the Internet using the webcast platform. I'd like to remind you that this conference is being recorded. The audio will be available on the company's website within 24 hours. If any of you do not have a copy of the Unidas earnings release, you can obtain it from the company's website, ri.unidas.com.br/en. This conference call, accompanied by the slideshow, is being transmitted simultaneously over the company, accessed through the company's website. I would like to clarify that any statements made during this conference call regarding the prospects of the company's business as well as projections, operational and financial goals regarding its growth potential are forecasts based on expectations. Management in relation to Unidas' future. Such expectations depend on the performance of the sector, the general economic performance of the country, and the conditions of the national and international markets, and are therefore subject to change. Today, we have Mr. Luiz Fernando Porto, CEO, Marco Túlio Oliveira, CFO and Investor Relations Officer, and Mr. Carlos Sarquis, Head of Rental Car Division. I now turn over to Mr. Luiz Fernando Porto. Please, Mr. Porto, you may proceed. Good afternoon, everyone. Welcome to the first quarter of 2022 Unidas conference call. Today with me are Marco Túlio, our CFO and IRO, and Carlos Sarquis, our head of RAC. Starting our presentation, slide number two, we're pleased to announce that Unidas, aware of its role for a balanced environment and committed with the future of sustainable mobility in the country, has started offering electric scooters for rental through Unidas Livre. Unidas has established a partnership with Voltz, a technology company focused on urban mobility, to offer electric scooters, EV1 Sport subscription plan. We are pioneers in the rental of electric vehicles in the country. In addition, this movement allows us to enter in a niche of market where clients, in addition to searching for a two-wheel mobility option, will save money with a lower ticket. In the next slide, our total fleet went up, actually 22.6% in this quarter, reaching the level of 203,700 vehicles. This was boosted by the strong demand for both rental segments, especially in the fleet management, which had a positive change of 28.2% in the twelve-month comparison. In the chart below, we show the evolution of the average rented fleet, which went 20.9% up when compared to last year's first quarter. In slide four, we present net investments in fleet. We acquired around 13,000 vehicles and sold 10,100, a positive amount of 2,800 vehicles in the quarter, in line with the company's estimates. Now in slide five, we will talk about fleet management. In the chart above, we continue to prioritize contracts with higher profitability, and 7,100 new vehicles were hired in the quarter. Although with a global value of new contracts of around BRL 1.2 billion, this global value of new contracts is 65% higher than in the first quarter of 2021 and is also a record for the company. The cars in dispute for the next quarter surpassed 85,000 vehicles, an expansion of 17.4% when compared to the same period of the last year and almost twice of what we had disputed in 2019 and 2020, demonstrating the strong scenario for this rental segment and the company's capacity to identify and attract new clients. Next slide. We continue to evolve in a consistent way our volume of daily rentals in fleet management. We hit a record one more time, reaching the volume of 9.7 million of daily rentals with 30.7% of growth. This higher daily rental volume in the quarter goes along an evolution on the average monthly rate, reaching record levels in the quarter of BRL 1,964, an increase of 11.1% when compared to the first quarter of 2021. This resulted in an expansion of the net revenue with another record, BRL 576.1 million, an evolution of 45.7% compared to the first quarter as demonstrated on the right chart. In slide seven, we'll talk about the used cars market and its behavior. We increased our market share in used cars by 0.6 percentage points when compared to the first quarter of 2021, despite vehicle sales volume retraction, which went 17.5% and 12.3% down when compared to the first and the fourth quarter of 2021. In the chart below, we can see that we reached a total of 65,300 vehicles, an expansion of almost 20% compared to the last year. Our sales volume keeps impacted in a relevant way due to the need to reduce our rental business demobilization to allow the continuation of good service to our customers. We just sold 10,100 vehicles this quarter. In slide eight, net revenue from used cars totaled BRL 661.4 million in the quarter, and we shut down four more stores. I now turn over to Sarquis, our head of Rent-A-Car, and he will present more details in the company's results for this segment. Thank you, Luiz. Good afternoon, everyone. We're now on slide number nine. I'd like to start talking about the bottom right chart. It presents the evolution of our average daily rate, which this quarter reached the level of BRL 103, an increase of 38.4% when compared to the same period of 2021. This is a consequence of price increases in all business segments to offset the recurring operating and capital price increases, and also of the growth of the rental share coming from individual segment. In the first chart, we show the volume of daily rentals, which went 5.3% up when compared to the first quarter of 2021, reaching 4.8 million. In the bottom left chart, we can see the occupancy rate, which reached 79.4% in the quarter. The volume of daily rentals for this quarter and the occupancy indicator and revenue growth itself were affected by the reduction of the tourism volume caused by the peak of infections of the Omicron variant. We believe that the end of the pandemic will bring a very impressive short-term rental demand growth for such travels as well, as for business or leisure. In slide 10, we continue evolving and reached a net revenue record in the amount of BRL 455.6 million, an expansion of 50.2%. In the bottom part of the slide, we present the company's total stores, and this quarter we ended with 250 stores, 29 from franchises and 221 owned by the company, an expansion of 22 of our own stores. I now turn over to Marco Túlio. Thank you, Sarquis. Good afternoon, everyone. In slide 11, we can see the costs regarding vehicle demobilization and preparation for sale in the segment of used car sales. The presentation of these costs in used cars operation better reflects the company's strategy regarding the level of car preparation versus the sales strategy contained in each channel was that, for example, we have comparatively increased preparation costs in recent quarters to capture higher sales values in the demobilization of our assets. The non-recurring impacts from merger, which in the quarter total approximately 14 million BRL, were excluded from the results. Because of that, adjusted EBITDA in the RAC operation reached BRL 229.3 million in the quarter, an expansion of 57.6% when compared to the first quarter of the past year, with an adjusted EBITDA margin of 50%. In fleet management, adjusted EBITDA hit record reaching BRL 383.1 million, an expansion of almost 40% when compared to the past year, and an adjusted EBITDA margin of 66.5%. In slide 12, we can see an evolution of our consolidated adjusted EBIT. I'm sorry. We went up 39.2% and reached the amount of BRL 573 million in the quarter when compared to the first quarter of 2021. We highlight EBIT margin from fleet management, which went 1.2 percentage points up. In slide three, our net financial result was impacted by the strong growth of Selic rate in the recent quarters. In addition to the fact that our net debt doubled when compared to the first quarter to support the company's strong growth. In slide 14, the spread between ROIC and the cost of debt was 5.8 percentage points. The ROIC spread was the result of adjusted quarterly ROIC of 13.1% and the cost of debt that reached 7.4% in the quarter. Finally, in the bottom right chart, we present our leverage levels. The net debt over recurring annualized EBITDA was 2.8x. I now turn over to Luiz Fernando. Thank you, Marco. Before we move to the Q&A session, I'd like to give my final considerations. This first quarter of 2022 represents an important evolution of the strategies adopted throughout recent quarters. We keep on presenting the continued improvement in the rental business results. Both segments had record marks in net revenue and in adjusted EBITDA with a strong operating performance with a quite heated demand, even with the negative impact caused by higher inflation of maintenance costs, the continuous fleet aging, and the bottleneck in the brand new car industry. In used car sales, we continue to calibrate our sales volume to guarantee the attendance of rental clients. Meanwhile, the delivery of brand new cars from automakers is not normalized. In a consolidated view, rental operations and used cars generated a net revenue of BRL 1.7 billion, the highest for a first quarter in the history of the company. In addition to offering electric cars and outsourcing a fleet this quarter for Unidas Livre clients, we have a partnership with Voltz to offer a new vehicle segment. From now on, the customers that are fans of two-wheel mobility will have electric scooters as a cheaper and sustainable option. Before moving to the Q&A session, I would like to thank the Unidas team, which has delivered another excellent quarterly result, our investors, clients, and partners that believed and continue betting on us. Thanks for attending this conference call, and please always count on me and the Unidas Investor Relations team. Thank you very much. Ladies and gentlemen, we will now begin the Q&A session. In case you have any questions, please press star one. To remove your question from the list, press star two. Our first question comes from Regis Cardoso, Credit Suisse. Hello, Luis, Marco, Carlos, thank you for the opportunity, and congratulations for the results. I'd like to explore the RAC rates. You think that this is a channel effect. In the same category, we can see the results, and I would like to know if it is a matter of prioritization or if there are any other reasons. Also, regarding the fleet renewal, you bought and sold less cars. Is there any reason for that? Is it a deliberate strategy, or are there any restriction effects in the offer of cars? Thank you very much. Hello, Regis. Good afternoon. Thank you for the question. This is Carlos Sarquis. I'm going to answer to you about the RAC fees. In the first quarter of 2022, when compared to the fourth quarter of the previous year, all of our rates, excluding the physical person, went up, and most of them went up over 10%. The physical person rates went down. Even though the one for physical rates went down, and this is more visible for the market and you can check the prices in our websites. Even though they went up, we observed very expressive growth quarter-over-quarter in the average ticket for Rent-a-Car. Therefore, my answer is very clear. This growth is obviously due to the fact that the percentage values for rentals in the physical person channel has improved, and that is the channel that has the higher average ticket. As I mentioned in my presentation, this channel was impacted by the Omicron variant, especially in the first weeks. Even though it was significantly impacted, we had a price decrease because when we are trying to encourage this demand, this is true for Unidas and our competitors. Even in a scenario like this, we had an expressive increase in the average ticket. Prices of the other channels continue growing. Physical persons are recovering when we compare this quarter to the previous one, and we can see a very good evolution of prices in the market. Have I answered your question? Well, Regis, moving on to your second question in the purchase and sales of cars. We have worked throughout 2021 and also in the first quarter of 2022, we wanted to have the maximum number of cars available. That makes sense in terms of the renewal of our fleet. We have mentioned that if needed, we will delay car sales. There has been a significant increase in car prices last year and in the first quarter this year. We understand that with higher maintenance costs, we can have a good quality of our cars for our clients, and then we will buy cars appropriately evaluating the difference between purchase and sales. If we take into account this difference of purchase and sales in the last couple of quarters, we understand that we're using the best strategy possible. If we compare the fourth quarter and this first quarter, we have a little bit over 21,000 cars and therefore we purchased more in the fourth quarter. We sold a little less with a net difference that is important for us to kick off 2022. In this first quarter, we have almost 3,000 new cars in our fleet. We are analyzing things conservatively, looking at our capital and an optimal increment in net fleet according to our understanding, and we have also increased the rentals. If we get 20,000 more cars, we're talking about a growth of 10% in the company's fleet. Okay. Excellent. Thank you, Sarquis. I just wanted to add. I'd like to know about the margin in cars. Should we wait for these results looking ahead? Well, that's an interesting question, Regis. In this quarter we have started an almost recurring regimen for rental car. We did not conclude this for fleet management, but it is an almost recurring event. Why? Well, because of the operational fleet we had at the end of last year. So part of the rental car fleet and the credit is not seen in the first quarter, but it won't be lost. It's a matter of concluding the report, and we can say something about 15%-20% of the operating fleet of rental car is not part of the balance. In terms of outsourcing, we do not have appropriate credit, but it doesn't mean that we can't do this in the future. Well, thank you very much. Our next question comes from Aline Gil, BTG Pactual. Good afternoon. We have seen an increase in ROIC and fleet. Do you have any perspective of stabilizing this segment? I have another question regarding the sales of assets to Localiza. Thank you very much. Thank you, Aline. Thank you for your question. Regarding the ROIC and the fleet, it will continue increasing over the year. If we keep a high volume of cars, but in terms of renewal, this effect will not disappear. We have a large volumes of cars today which do not need to be depreciated, and a smaller amount coming in every month. The faster we receive a higher volumes of brand-new cars, the faster will be the stabilization. The volumes of depreciation and the amounts will increase over the year. Regarding the sales of assets, we have a similar event when compared to the past quarter. We want to sell these assets. We're going to close a deal, and right now, I would like. I would rather not speculate with prices. We have a dilated deadline for the sales. We have some expectations, but I would rather not speculate because it depends on third parties. This is a normal process. It is flowing well according to what we mentioned in the last call we had with you. Aline, is that okay? That is perfect. Thank you. Thank you for the answers and the clarifications. Well, I thank you. Our next question comes from Victor Mizusaki, Bradesco BBI. Good afternoon. Congratulations for the results. I have one question. In the first quarter, we've seen some pressure from ROIC, and I'd like to know what your plans are for 2023, and Sarquis has already mentioned a little bit about it, about improvements in the rates. Also in the first quarter, we've seen this process of a partial fleet renewal which has increased invested capital a little bit. I wanted to understand from you how the ROIC will vary along 2022. Thank you very much. Hello, Victor. Thank you for the question. I think that in the composition of our ROIC, we have some factors involved. Even though it is a little bit lower than in the previous quarter, we can see that basically, in terms of invested capital, for example, if we look at the final balance position, the amounts are a little bit higher in the implementation of cars and the cars that we bought at the end of the previous quarter. That has an impact in ROIC. Also, with higher margins in used cars, we are selling much less than the normalized amounts. It's important for us to understand how this behavior will be from now on, the ROIC spread and the cost of debt. We've had a spread, a very healthy spread in the past years. In the next years and quarters, the objective of the company is to continue with its target spread in terms of cost of debt and ROIC. In terms of volume, if we have more or less used cars, they are already higher than the company's balance. The ROIC spread can be expected to be at the same levels that we've delivered historically. Excellent. I wanted to ask a second question. Marcos, I think you mentioned for this quarter a net addition of two-three thousand cars. Thinking about the average age of the fleet. Because of what happened in the first quarter, it could be that the RAC fleet will continue increasing its average age. How do you see that? Is it a market condition because of the car assemblers or not? Is it possible to operate with an average age so that the fleet can remain a little bit older? Thank you very much. Victor, thank you very much. This is Luiz Fernando. This is an excellent question. Based on the changes we've had in the last couple of years, because of a decrease in the delivery of brand-new cars, we have tested new cars and new models. This is one of them. We've seen that it's possible to work with a return that is the same or even better with a fleet. An appropriate fleet. Even if in the next few years, the industry normalizes its delivery capacity, we can indeed try to have higher average age, average ages in our RAC. It's important to have this turnaround and this new fleet, but we had never worked with a fleet this age, with these numbers of kilometers, and we can see that we can expand this a little bit. We cannot assure that, and if the industry resumes normally in 2023, since all agreements have already been established for 2022, we'll have to better calculate. Using our fleet a little longer has important factors involved. The answer is yes, we can expect longer average age for our fleet. If the industry normalizes its delivery, we will have to decide whether we'll go back to previous levels or not. Thank you very much. Our next question comes from Felipe, Citi. Good afternoon. Thank you for accepting my question. I have two questions, actually. The first one is I would like a follow-up in terms of fleet age and fleet renewal. You have explored some aspects, but I wanted to better understand what your expectation is in terms of purchase volume for the year and whether this volume will accelerate throughout the year and how you see this normalization for 2023. The second question, I wanted to learn from you what would be an acceptable leverage level, and how are we, or whether it is possible to increase this leverage. Felipe, good afternoon. Thank you for your question. Our expectation is to accelerate deliveries in the second quarter, and especially in the third and fourth. These are the agreements we've made. In April, in the first month, we already have some signs that they have been according to what was expected. In the first quarter, what we received was what we expected and what we had agreed upon. There's nothing new in those volumes. They were already anticipated in our budgets. In the first month of the second quarter, everything was according to our expectations and it was higher than the average that we received in the first quarter, and therefore, this is a good sign. The ramp is very marked in the second and third quarter in terms of the volume, of course, that we have agreed upon with the assemblers. Many of them did not produce cars in the first quarter because of part replacements, manufacture adjustments, because of a new legislation that was put into place. These assemblers have a contract with us. The expectation is very strong for the next quarters. Then April was a good month. We received more cars. For 2023, we expect that this will be overcome and that we will buy the amount of cars we need. We expect that by 2023, the industry will have solved its problems with parts. The automobile industry has already indicated that they want to explore their productivity the best way possible. This is what we have for 2022. We will accelerate as of now. For 2023, we expect that the automobile industry will normalize, and we'll have it from our partners and assemblers. Well, thank you for the question, Felipe. I'm going to answer your second question about leverage. We have followed two metrics. Leverage, we'll look at the last 12 months. We follow this as well as leverage when we evaluate our EBITDA for the quarter. Here, when we manage the company and look at the past experience, we can see that the EBITDA has grown one quarter after the other, and therefore this decision in terms of growth will be based on EBITDA. When we see that it grows, but for example, if it starts today, we're talking about 2.8x here with a normalized EBITDA. Whereas we have EBITDA at this level or even up to 3 or 3.10, this is healthy. If we start to grow, this EBITDA would not go down. This is a metric we use, and we have an important opportunity here to keep the company's strategy growing with a healthy leverage level. Thank you, Felipe. Our next question comes from Guilherme Mendes Jabur. Hello, Luiz. This is Marcos Assumpção. Thank you for your question. I actually have two questions. I know that I don't give a lot of disclosures about this segment, but I wanted to know what we have ahead of us. I would like to know what we have in the future, especially taking Localiza into account. The second aspect, now that we are in fact negotiating and discussing synergism, I'd like to know what you expect in comparison to what was expected in the past. Thank you very much. Well, Guilherme, I thank you. Our platform for heavy vehicles today has about 2,800 assets. We've grown well in this segment. You have probably observed the average ticket of cars, which is higher, and obviously this amount has suffered an impact of heavy vehicles and other segments that we have invested in the last years, such as agribusiness and special vehicles. Because the characteristic of these businesses is that contracts are longer and the average ticket is higher. When you have a longer contract, you charge less, and the return has a longer cycle. Therefore, we are not going to disclose these and other segments separately. Maybe in the beginning of the next year or end of this year, we will have a more open disclosure per segment. For the time being, everything is closed. I can give you some numbers as the number of assets, and I can tell you that we are making good use of this sector for our growth. Regarding synergies, we've started planning the new company. Because of restrictions in the process, we're doing this with a team, but we have not decided whether the synergism is higher or lower than what we have in terms of numbers. Our expectation is very positive in terms of what we see now that we're working closely, especially after the first approval by CADE in December. Expectations are good. We do not have accurate numbers yet. We do not know what Localiza's numbers are. Localiza cannot see our numbers either. We have a consultancy available, and that makes it very difficult for us to have accurate numbers available. The expectation is very good based on what we've seen thus far. Thank you very much, Luiz. Good afternoon. Well, I thank you, Guilherme. Ladies and gentlemen, I'd like to remind you that to ask questions, you should dial star one. Our next question comes from André Ferreira, Bradesco BBI. Well, good afternoon. Thank you for accepting my question. I'd like to have an idea of the cars that are coming in and whether it's similar to the regular market. Well, thank you, André. The mix is normalizing. If you get the average ticket for RAC this quarter, it is more aligned to what we believe to be a normal mix. And that is seen in numbers also. In the past, we had an availability from the industry which focused on the more expensive vehicles, because if you have a better added value for the assemblers in these more expensive vehicles than if you have a restriction in terms of the number of parts, of course, the assemblers preferred to make this kind of car available. Now with the normalization of the delivery of parts, they will produce a natural mix because they need to have this mix to reach their objectives. Therefore, the answer is yes, this is normalizing, and we expect that in the next few quarters this will be consolidated. As I mentioned, if you look at the purchase for the cars and the mix as things start normalizing, we can clearly see that the average ticket for RAC goes down. The reason would be the mix, the reason for this normalization. This is what is happening and this is what we expect. Thank you very much. Ladies and gentlemen, I'd like to remind you that to ask a question, you should dial star one. If we have no more questions, Unidas conference call is now over and we thank you all for your participation. Have an excellent afternoon.