Good morning, everyone. We're going to begin our earnings call for the Q1 2024 at Moura Dubeux. I'm Allan Aquino, and to present our earnings for this quarter, we have Diego Villar, the CEO of the company, Diego Wanderley, our CFO, and Diogo Barral, our Investor Relations Officer. To submit a question at any moment, please select the Q&A icon, and at the end of the presentation, we'll begin our Q&A session. It's worth mentioning that possible statements that could be made during the earnings call are based on assumptions from Moura Dubeux's management. Future statements are not a guarantee of performance. They involve risks and uncertainties and rely on factors that could or not occur. Having said that, Villar, the floor is yours. Thank you, Allan. Good morning, everyone. Once again, very close to the call in the Q4 2023, but we wanna bring the highlights of the Q1 2024 now. Before we begin and we discuss each number, I wanted to talk about the formula and how we've been conducting this, right? We see that 2024 is a year where once again we'll overcome the numbers we had in 2023 in the operational data for sales and launches, and also with all the financial indicators, the gross and net revenue, the net income, and the growth of our margins. Basically, part of this is already higher, and at the same time, we also have been going through an execution process of what we had already sold in previous launches, and we're still quite optimistic about the launches for 2024. I'm going to talk about a few of these I've already done in the Q1. I'll give you some clarity about what will be the next ones, especially based on what we've already communicated to the market about, such as the iconic projects on the former Othon Palace in the city of Salvador. Before we begin and get into more details, I want one thing that people have been asking about because we recently had published in the Brazil Journal an interview with me about the forecast in the company for the payment of dividends. We are in a cycle with a cash burning process. We had already provided this disclosure to you and all the market, and Wanderley will talk about this up ahead. Our expectation and forecasts, especially, those that are reviewed considering the results in this quarter, already indicate that in the Q4, we'll be getting into a cash generation phase. You all know as well that the company, after going public, had an accumulated loss that will be reversed now in the Q2. The combination of both of these factors gives us room so that in the Q4, we can pay out dividends with the results of the Q3. This is our strategy, and it's becoming more feasible and realistic day after day. From this day onwards, we'll start balancing out the company in a recurring manner for the payment of dividends, biannually, and we'll move on as in the same way in 2025 and 2026. All of the company's growth will be based on this assumption and the assumption with the very low or even zero debt level. Throughout the period in the company, we always intended to make the company reach a state of deleveraging or even very low leverage. Now this strategy remains even in this cycle with the payment of dividends and growth. We're gonna get into details. We had launches of BRL 347 million when compared to the same quarter in 2023. This is a growth of 40%. When we compare with the last quarter of 2023, it's a reduction of almost 23%. This is how Moura Dubeux has always performed its strategy. We start the year with more caution, and that's why we reduced some of the launches in regards to the last or the previous year. We grow because this year will be a year with more launches on the same base as 2023 when compared to the Q1. What's most important, we sold BRL 372 million. It's the best Q1. If we compare the same quarter last year, we grew 14%. We reduced this in regards to the Q4. It's also natural if you consider the Northeast, where you have a lot of holidays and vacation in the cities. We performed more when compared to the same quarter last year, and we sold more than what we launched, which made the company reach 47% VSO in the accumulated 12 months, which would be the VSO, the net VSO. It's really important to consider that Moura Dubeux has been keeping this up for quite a while, 45%, 46%, 47% of VSO. You can see multiple quarters consecutively with really good acceptance. We reached BRL 308 million in our net revenue, which is also a growth of 22% compared to the Q1 last year, almost 10% when compared to the last quarter. That's combined with what I mentioned recently. We've been growing our revenue nominally and our profits, and most of this is basically due to what was already previously hired, and now it's just under execution. BRL 42 million was our net income, and we had almost 40% growth upon the Q1 last year, which shows us what the year will be like. This is our expectation for profitability growth year-over-year. The Q1 was the one that we had projected. 25% growth in the profit when compared to the last quarter, which led to 13% ROE in the Q1 2024. A growth of 3 percentage points compared to the Q1, 0.5 percentage points compared to the Q1. Our ROE has been growing quarter-over-quarter. Here you can see, one question people always ask us is about the volume negotiated in the last 30 days. We went from BRL 2 million and now we're stable at BRL 7 million, which made us enter another six indices on B3. If you look at our behavior in the last 30 days at Mude de Bem, you can see that this changed levels very quickly. This also demonstrates greater interest in new investors to look at our stock. In the end of the Q&A, I'll be back, but now I'll pass the floor to Diogo Barral. I just wanna show you some highlights of our launches. We had a launch called Jardins do Parque in Maceió. This is a market that's been surprising us, and the indicators for average price of sales in Brazil have been quite surprising, for BRL 141 million. Beach Class in Assunção is a closed condominium, another retrofit project. It used to be a former hotel. We acquired it and launched it. We sold almost all of it and BRL 69 million in PSV and net. Also our Rivê close to Rio Vermelho. Now this is a whole another kind of audience, and we have BRL 137 million net PSV launched in the last few days of the closing of the quarter. We're moving along very well with the development of the Othon project. We believe that between the third and Q4, we're gonna be able to present both of the projects. It's actually a complex of three developments. The retrofit, the corporate, and a residential, which is really high class. Between the Q3 and Q4, we'll be launching this, and we hope that it's really welcome considering the demand we have. Simultaneously, we've been working with the Beach Class segment also. We've performed very Mude de Bem. In the last two ones, we really believe that the ones we're gonna be presenting this year in the south of Pernambuco will be a success. The rest, which are almost ready to be launched, and we have the launch of the Concept Jardins, Aracaju. Here in Recife, we also have the Mundi Arara, which is doing really well. We just launched here in Recife, another project, but in the Q2 we'll share more data about the launches in the company. Barral, the floor is yours about the operational highlights, and I'll be back with you guys at the end of the presentation. Thank you, Villar. Good morning, everyone. Now keep up with the operational highlights and, talking about the launches. Diego's already mentioned the variations in regards to the quarter, and I think it's worth mentioning the VSO in the last 12 months when it comes to the right side here of the slide. The company was able to accumulate BRL 1.7 billion, growth of 6% compared to 2023. Here it's worth mentioning that about our expectation in regards to growth in this volume of launches throughout this year of 2024, and it tends to grow significantly compared to 2023. However, we'll have a stronger growth and more relevant growth from the H2 2024. Moving on with our sales. Diego also mentioned some of the variations in the quarter. When we look at the last 12 months, the company has commercialized BRL 1.5 billion, which represented a growth of 3% compared to the year of 2023. Now when we look at a composition of our sales, when we add the sales of development, adhesion to condominiums and post-sales, we accumulate BRL 415 million in gross sales. When we consider cancellations, we reach a net sale of BRL 372 million. We wanna highlight some of the cancellations here. Once again, the company had a level of cancellations that we believe is healthy and compatible with the size of our operation. We look at the Q1 from the BRL 43 million that were canceled. Basically, 60% of this number was left in-house in Mood. These are cancellations that are really connected to a switch in ownership or a migration between units within the company. When we eliminate this number from our calculation, then the cancellations only represent 4% of our gross sales. Moving on with our speed of sales. Here you can see the consolidated numbers, and on the right side, you can see the launches VSO. You can see that we've been keeping up this level of VSO in the last 12 months above 40% for quite a while. 15 quarters consecutively. Besides the company being very precise in its projects, I think it also demonstrates the consistent demand on average on middle and high income launches that's really focused on the products we had operated with and launched constantly. Here we have our land bank, and here you can see it's very close to the volumes we had last year. We end the Q1 with BRL 1.855 billion in our land bank, which represents 15 months coverage, a really healthy level if we consider the commercialization in the last 12 months, so the LTM. If we consider the breakdown of this BRL 1.855 billion, 28% or BRL 511 million are our stock or land bank of units to be launched. 65% are units that are under construction. Only 7% or BRL 139 million are related to our units that have already been completed. On the right side, you can see a breakdown per region, but also per business model. On the pie, on the upper side, you can also see a greater volume of our markets that are most relevant in our plan. We have Ceará with BRL 616 million under stock. That represents 33% of our total stock. Then we have Pernambuco with BRL 460 million, representing 25% of the total stock or land bank. On the bottom part, you have the breakdown per business model, and you can see how we're quite balanced between condominiums, developments, where each of them represent about 50% of our total land bank or stock. When we move on to the end of the operational part of our presentation, we end the period with 61 properties. They represent BRL 8 billion in possible potential PSV. We've been keeping up with this level, and it should be quite interesting. From this BRL 8 billion, has an acquisition process that should be about 60% through physical swaps and 40% in cash. The projects in progress, we end the quarter with 53, and from these, 22 are in a development regime and 31 as condominiums. From these 53 projects, we have 45 construction sites that are active. About deliveries, in the Q1, we had two projects in Recife, so in a condominium model. When we look at the amount of deliveries expected throughout the year, we can notice that there's a concentration in the development model where you have seven projects and three of them are still in condominiums. In this way, we can confirm 10 projects to be complete and delivered throughout 2024. Now I'll pass the floor on to Diego Wanderley as he moves on with our accounting data. Thank you, Diogo Barral. Good morning, everyone. We'll start off with our net revenue, which ended the Q1 2024 with BRL 308 million, 22% higher than what we had in the Q1 last year and 9% above the last quarter of 2023. The breakdown here, the revenue is 66% coming from developments and 33% coming from condominiums. We can notice that there's a growth in share of the incorporation or development in our revenue structure. On the right side, you can see our accumulated numbers for the last 12 months, and we reached BRL 1.2 billion revenue, 5% above the close year of 2023. Moving on to the gross profit. We always bring in the adjusted capitalized interest. We ended the Q1 with BRL 108 million, really in line with what the Q4 was and 23% above what that was. Here you can mention the drop in margins that dropped at 35% of audited margins, and that's mainly due to two factors. The first one is the mix with the incorporation or development, which is part of the gross profit more. Also, the drop in margin doesn't affect the profitability of the overall business though. On the right side, we have the accumulated numbers in the last 12 months reaching BRL 444 million, 5% above the closed year in 2023, and a margin of approximately 37%. Moving on to our expenses. On the right side, you can see our commercial expenses that are still in line with our sales, even a slight drop, closing with about 7% and a total of BRL 28 million. On the right side, you can see our administrative expenses, and we did have a dilution here with 7.1% of our share in our revenue and 5.1% compared to in regards to our sales with a total amount of BRL 22 million. Moving on to the adjusted EBITDA. In the Q1, it was BRL 54 million, with an EBITDA margin of 17.5%. When we accumulated the last 12 months, BRL 216 million in EBITDA, 6.7% above the year of 2023, and a growth of the EBITDA margin reaching close to 18%. To end the earnings topic, we have the net income, which was BRL 42 million in the Q1 2024. A net margin of 13.7%, which is accumulating BRL 167 million in profit in the last 12 months and 7.5% higher than the close year in 2023. This is important to highlight. The ROI is always crescent, close to about 13%. We also bring in the higher results that are already considered in our earnings. On the left side, you can see the results of our incorporation, BRL 270 million of profit with a margin of 35% and one percentage point gain in regards to the Q4. On the right side, you can see the revenue from condominiums and closed sales of BRL 29 million and a margin of 27.5% and administrative fee of BRL 240 million to be accounted for. Finally, the financial indicators. We have the cash consumption and our debt level. Ever since the Q1 2023, when we started this cycle with the burning of cash, we anticipated this movement, and we've been keeping this according to our plans. We ended the Q1 of 2024 with about BRL 70 million of operational cash. We had accumulated BRL 107 million of net debt. That represents 7.7% of our equity. What we see in our plan that we're still gonna be burning a bit of cash in the second and Q3, reaching the peak at about 15% of our equity. In the Q4, we get back to generating cash and give us more room for the payout of dividends. Now we end the financial indicators, and I'll pass the floor on to Allan to start the Q&A. Now we're gonna begin our Q&A session. If you have any questions, please select the Q&A icon. The first question comes from Igor Altero at XP, and he's asking about the expectation for the payout of dividends in 2024 and the estimate for 2024 and also the next cycles. The second question he's asking us is about the expectation for the launch of the Othon. I think I was kind of guessing this question Igor Altero when I mentioned the highlights, right? Igor Altero, good morning. Thanks for your question. I think that when we mention this, the company closes the Q2 with accumulated loss and the profit in the Q3 is our main sign towards an expectation for distribution. If we confirm this, as Wanderley mentioned, we'll have a cash burning process for the Q3. We should reach about 15% of the company's profits and losses. We have room, and this becomes recurring because our growth will always be higher than the exceeding amount of the contribution of the profit distribution. Our expectation for amounts we'll of course share when we're closer. Now we're trying to work on bringing the most possible. It wasn't even on your radar for 2024, right? Due to the performance in the last quarter, we decided to open up this opportunity, right? Othon's doing very well, and between the third or Q4, we'll be launching. Alan, we have another question from Herman at Bradesco. He's asking about the level of leverage that we have and the net debt- to- EBITDA ratio, and when it's gonna happen until you actually get the cash generation phase. We also have the question from Mariangela Castro from Itaú BBA about the gross margin that you imagine to be stabilized when you consider the dynamic of the mix between condominiums and developments. I can take this one. Basically, we don't wanna set the exact margins here as a guidance, but we do consider that when you consider the mix between the condominiums and developments, we should have a margin between 35% or 36% once stabilized. In regards to the mix, we've seen condominiums taking on a higher share in launches than what we imagined. Today, we can operate with condominiums with over half of the launches than when we develop. When we look at the future with the growth of the launches, we believe that the launches in the condominiums should take on, like, one-third of our earnings in the company. We have another question from Anthony Castrucci from Santander. He'd like to know about what our mindset is about the launch mix between model Mude de Bem, and condominiums, and how we're looking at projects for condominiums out of Recife. And besides this, he's also asking about how Pestana's moving along. Hey, Antonio. Good morning. Well, we're going to talk about the mix issue first here. We have three important business models that are very good in the company. When we consider our exposure that comprises leverage, of course, it's natural that we'll try to Mude de Bem and especially with condominiums. Condominiums today have been reaching almost BRL 1 billion of launches and sales in the last 12 months, right? Mude de Bem is still a little shy despite the launches in Natal and in Ceará and our good sales performance. It still hasn't occupied enough space to be that relevant in our revenue base. The two developments in Fortaleza that have the name of Mude de Bem, Mude de Bem, and they have been working very low exposure, really setting up this financing model through the Caixa Econômica Federal. We think that Mude de Bem will do very well in the next two or three years with about 70% Mude de Bem when you add both, and the rest will be completed by traditional developments like 37/63 or 35/65. That's pretty much the average of our portfolio today to hold on to our leverage and our cash burning and still have a significant volume in the company. Of course, considering a lower risk matrix, as we mentioned. Moda de bem has a very quick cycle, so we can have even more precision in this process. Finally, when we consider Pestana, as you mentioned, Pestana has the construction license and all of the sales material ready. Now we're waiting to solve a discussion that we have with the Ombudsman office, the registry office, sorry. There was a development inside the hotel. So there's no problems we won't be able to overcome. Things in Brazil are very slow and bureaucratic and especially when it involves some legal discussions. We're very convinced that soon we'll be able to launch, but I still can't estimate the timing. Besides our frustration being a lot greater than any of yours, because we believe we would have sold everything, basically. We're just waiting on this decision so that the registry office can issue this document. We can have the launch. Now we have a pretty good problem actually on our laps because both of them have a percentage of products that's quite similar, the former Othon Palace and the former Pestana. We'll be able to understand how we can launch both of them so that one does not compete with the other. We have another question here from Diego Fragi. He's asking about if there's any kind of overlap between condominium customers and developments, and if we've already suffered this kind of overlap between customers and products. Well, Diego, good morning. Thanks for the question. It's not uncommon that customers will buy a development product and at the same time a condominium product. There could be situations like this, but there's not really competing products. The Moda Vita has similar products in the same market. Anyways, when we have this condominium model inside the product, you could have a chart with closed sales, right, which is what we call them. This serves customers that can't pay 100% during the construction phase. Of course, you have an overpricing here on average when you can see the margins of closed sales were about 27%, 26%. What does this mean? It means that the amounts Mude de Bem considers adds on the sale to this customer. They're not direct competitors because one's paying higher than the other. Of course, that doesn't pay everything during the construction project. The other one needs real estate financing. On average, that's 40% paid during the process and 60% funded with the bank. We're not really concerned with this similarity in our products despite avoiding competition in the sense. There's a price difference that's pretty significant or justifiable. Well, we officially ended our Q&A session now, guys, and I'll pass the floor on to Diego for his final remarks. Thank you, Allan. I just wanted to thank you all, for your trust. When we look at the same presentation and compare with one year back, and we see what we had considered as perspectives for 2023 and what we had already provided as perspectives for 2024, we can see that it really became a reality. I remember the reports from analysts about results in the Q1. We said good results within what we expected, and that's what we tried to be. We tried to be consistent and always deliver what we've been talking to you about. Of course, we wanna improve as always, but we're very transparent, and we have really good alignment in our expectations. We understand that, high assertiveness, upon our results at Mude de Bem. Constant growth quarter-over-quarter, sales launches, and we don't have major issues with our margins or leverage, and our margins also been very consistent. That's what we want. We want to be growing step by step, so we don't have to have this elevator effect. Now in this cycle with the payment of dividends, I really believe that we'll be able to close the last door or pushback that we may have that could justify a medium or average valuation that's a lot lower than developers that deliver results that are close to ours. Then the dividends will be the last closing here, and we're committed to having recurring payments just as we had when it comes to VSO and margins and profitability. I wanna thank you, everyone. In the Q2, we started off very well, and we have a very positive expectation for the year.Have a great Friday. If you have any questions, our IR team is available. Thanks again for your participation. Thank you all.