This is a conference call, while we will discuss the earnings for the first quarter of 2025. This presentation is being recorded and simultaneously translated. If you would like to listen to the translation, you can click on the Interpretation button. If you are listening in English, you also have the option of muting the original audio by clicking on Mute Original Audio. Before we continue, we would like to clarify that any statements made during this call about the company's business perspectives, projections, and operational goals are simply based on the company's assumptions and beliefs, and this is based on the information that is currently available for them. Remarks about the future are not a guarantee of performance. They involve risks, uncertainties, and they depend on favorable conditions. It's essential for investors to understand that the general economic conditions, industry conditions, and other operating factors may affect the company's future results and may make them differ materially from those expressed in these forward-looking statements. Now, we will hand the floor to Miguel Settas for his opening remarks. Good morning, ladies and gentlemen, and welcome to our earnings call for the first quarter of 2025. I am here with our CFO, Waldo Perez, and the Investor Relations Director, Flávia Godoy. For the next few minutes, we're going to give you a summary of our results for the first quarter. We can start by saying that we're very happy to introduce to you our new brand. The previously called CCR is now called Motiva. Our official name is Motiva Infraestrutura de Mobilidade, after so many years with the CCR brand. The group understood that right now, with our business profile and with the company's new position, this required a new brand, and this was approved by the board, and thus we have rebranded the company. From now on, our ticker as of May 2 will be MOTV3 instead of CCRO3, which was our previous ticker. Concerning our results, these are our highlights. First, we had a very strong quarter, which was consistent with our deliveries, with our promises, and this is just a result of the strategy we announced last year. We saw an expansion of complementary revenues of 15.5%, and this was, of course, supported by an increase in demand, as we'll hear from Waldo. This led to an increase in our adjusted EBITDA of 14% in comparison to the first quarter of 2024, and adjusted net income growing over 20% versus the first quarter of 2024. This quarter was also very relevant when it comes to our portfolio management. On one side, we signed two new concession agreements for auctions that we won last year: Rota Sorocabana in São Paulo and PR Vias in the state of Paraná. These assets are very relevant for our portfolio. In order to optimize our portfolio, we terminated two assets that were economically unbalanced in Rio de Janeiro: the Barcas service, which was terminated on February 11th, and also a resolution that was pending and that took place in the last quarter of the contract termination for MS Via in the state of Mato Grosso do Sul. As you know, in the second quarter, we will also have an auction in May, which will confirm or not our presence in this auction. This put a stop to a negative BRL 400 million process in these two concessions together. We also have a very important highlight in our efficiency agenda. As we have communicated to the market, our ambition is to reduce costs, and the results we see here in the first quarter have been very visible. We finished the first quarter of 2025 with a ratio OPEX to net revenue in the last 12 months of 40.3%, which is an improvement on our percentage last year, and 36% considering only the first quarter of 2025. This is clearly a positive trend. We're getting close to the goal we communicated of 38% by 2026. On average, we hope to be close to that goal that we communicated to the market. Another highlight is our emphasis on generative AI. We're focusing on this, and this is consistent with our efficiency agenda. Right now, we are implementing five use cases in the corporate area and the use of our platforms, which will gradually gain a critical mass and expand in our GenAI journey to other use cases so that it can gain scale and have a determining effect in our efficiency agenda. Finally, I'd like to remind you that in the last shareholders' meeting, we approved a payout of BRL 320 million in additional dividends for the 2024 fiscal year. Adding this to the payouts last year, this results in a payout ratio of 50%, and this is in line with our dividend payout policy. Again, this was a very positive, very strong quarter with results and with implementing our strategy. This shows that our communications and what we have been implementing is on the right track to generate value for our company. With that, I'd like to hand it over to Waldo Perez, who will give us some more details on our performance. Go ahead, Waldo. Hello, good morning, ladies and gentlemen, and let's continue with some of our highlights for the first quarter of 2025. We had solid operational performance this quarter. It's important to highlight that overall demand was affected by some calendar effects. We had one day fewer in the first quarter of 2025, considering that 2024 was a leap year, and we also had different holidays. For example, Holy Week, our Easter weekend, was in the second quarter of this year, and last year it was in the first quarter. Toll roads saw a growth of 1%. Passenger vehicles had a 0.9% increase during this time, especially due to the performance of Via Sul, Via Costeira, Via Lagos, and Rio SP. Heavy-duty vehicles grew because we saw soybean harvests picking up again and grain exportations, which favored commercial traffic. In rails, we saw a growth of 3%, 3.5% in the São Paulo units due to the higher occupancy rate in offices in regions supported by Via 4 and Via 8 and 9. We also had an increase of 4.2% in Metro Bahia and 33% in VLT due to recent investments. Barcas had a negative impact because the contract was terminated on February 11, 2025. If we disregard this effect, growth in rails would have been 4.5%. In airports, demand went up by 7.2%. Curaçao had an increase of 19.8%, which was a strong growth level due to consolidated international routes and a higher number of connections. BH Airport had a 17% growth, and this was mainly due to the consolidation of airlines in this airport, which have expanded flight offers. In the south, we saw an increase of 5.8%, and this performance was mainly due to higher occupation rates in flights or the load factor. We are experiencing intensive volatility in the market and global tensions due to the recent international tariffs and changes in the immigration policies in the U.S. We would like to reinforce that this portfolio comprises high-quality assets which are resilient when facing macroeconomic variations. Looking at the costs, we had several one-off effects this quarter, especially due to portfolio optimization. As a result, our cash cost was 3% lower. In personnel, as a result of our focus on portfolio, we had a reduction, especially due to the termination of the Barcas contract representing BRL 8 million and a reversal of the demobilization provisions at Via OSG of BRL 8 million as well. The sale of SAM last year brought an additional reduction of BRL 5 million. Concession fees saw an increase, which is directly related to higher demand. In third-party services, we saw an increase due to an increase in pavement conservation in Via OSG, BRL 34 million, which was partially offset by a BRL 21 million reduction in MS Via due to the substitution process with our service providers. With other costs, there was a reduction, which was mainly justified by the end of the Barcas operation, a reduction of BRL 21 million, and also due to the optimization of the MS Via contract, which did not have any losses this quarter. So a positive effect of BRL 21 million versus the first quarter of 2024. Non-recurring costs show a reduction of BRL 87 million in improvement works at Via OSG, which took place this quarter, and they are accounted for as costs. There was also a postponement for ARIS, which took place in the first quarter of 2025. As a result, as Miguel said before, the OPEX cash-to-adjusted revenue ratio was 40.3% in the last 12 months, a reduction of 0.4 percentage points versus the same time last year. It's important to note that the ratio this quarter was 36%, which demonstrates that we are advancing towards our goals. As a result, we had a strong growth in adjusted EBITDA and in margins overall. In toll roads, we saw 11% growth in EBITDA, and margins went up from 76% to 79%. In rails, we saw a 23% increase in margins going from 50% to 58%. In airports, an EBITDA increase of 11% and a slight reduction in margins from 54% to 53%. As a result, our consolidated adjusted EBITDA reached BRL 2.4 billion, an increase of 14% versus the first quarter of 2024. Adjusted net income reached BRL 539 million, a strong 20.2% growth mainly due to higher operational performance across all platforms and partially offset by our financial results, which was mainly impacted by increased indebtedness. Still on the financial result, there was a 29% increase versus the first quarter of 2024 due to a 17% increase in gross indebtedness. Higher monetary effect on liabilities backed by the IPCA. Our IPCA-backed debt increased, and this index also increased 0.62 percentage points. The BH Airport's authorization was also impacted by the IPCA increase. These effects were partially offset by a higher cost of loans, especially in Via SP, Via Sul, Rota Sorocabana, and Via Sivias. Our effective ratio was at 37%, and this was a reduction due to the contractual improvements in Barcas and MS Via. We are focused on our assertiveness in executing investments. We executed BRL 1.4 billion in the first quarter of 2025, up 8.4% versus the first quarter of 2024. In physical execution, we reached 88%. The main investments this quarter in toll roads were in Rio SP, the recovery of pavements and systems, especially Serra das Araras and the metropolitan region of São Paulo. On Via Sul, we saw a duplication of BR 286 and investments to recover the infrastructure lost during the climate catastrophe in May 2024. In rails, we saw investments in lines 8 and 9, construction and revitalization of substations, acquisition of rolling stock, and train maintenance. In airports, we made investments, especially in the south and central blocks, especially disbursements related to phase 1B, which was concluded last year. Boarding terminals, infrastructure adaptations, and operational improvements. Before I conclude on CapEx, I'd like to underscore that for Rio SP and BR VIAS, we sought some tariff increases according to our concession contracts, which are conditioned by delivering some works, and this is 10% and 25%, respectively. This information is detailed in our communications, and our investor relations team is available for any further clarifications. Our leverage concluded at 3.6%. Time Nt Debt to EBITDA. This increase does not reflect the cash contribution from new concessions, and it is already considering issuances of BRL 2.5 million and BRL 1 billion in Rota Sorocabana and BR VIAS, respectively. The second issuance for Rota Sorocabana liquidated the first issuance completely. The positive EBITDA effect will reduce this leverage gradually as assets evolve. In the first quarter of 2025, we saw a 29% increase in Net Debt for the holding due to these investments carried out for the new businesses, so Rota Sorocabana and BR VIAS, and also the payment for the cost of debt, which was about BRL 200 million during this period. We concluded six disbursements this quarter. The main ones are the two issuances for Rota Sorocabana. Considering these two, at a total of BRL 4.1 billion and PR Vias BRL 1 billion. In the case of Rota Sorocabana, the second issuance liquidated the first completely, as I mentioned before. Our debt duration went from 5.3 years in March 2024 to 5.6 years in March 2025. 50% of this debt will expire from 2033. Finally, I'd like to reiterate our commitment to our strategic plan for the next years, and this is based on four pillars: selective sustainable growth, focusing on value creation, having a robust value, and being leaders in sustainability. These are pillars that will allow us to carry on with our strategy for 2035. That concludes my part, and I will give the floor back to the operators so we can continue with our Q&A. Thank you. We will you. We will now begin the questions and answers session. If you'd like to ask a question, please click on the Q&A button, send us your name and the company you represent. When your name is called, you will get a request to turn on your microphone. Please do so and ask your question. Vamos à espera da primeira pergunta. We are waiting for the first question. Let's see if we've gotten any on the list. The first question will be asked by André Ferreira from Bradesco BBI. Hi, good morning everyone. Congratulations on these results, and I'd just like to ask about your cash OPEX to net revenue ratio in comparative basis. If you adjust it with the Barcas operation, 36% is much better than your goal. I'd just like to understand what we should expect from now on. Thank you. Thank you, André, for that question. I'll hand it over to Flávia, but just to remind you, our goal is to reach 2026 with 38%. It's likely that throughout the quarters, this ratio will have some fluctuation as it did last year. Last year, we had variations of 39%, 42%. It's likely that this will also fluctuate in the next quarters. This is due to some costs and some changes in our cost structure. We do not foresee that this 46% will be a ratio that will be the average for the end of the year. We will probably be closer to 38%, which is what we expect for 2026. This is an internal challenge for the company to finish the year closer to our goal for 2026. This is the challenge. Our commitment is to reach 38% next year, but we hope to be close to it this year already. Flávia, if you have anything to say about this like-for-like comparison with the comparable assets. Hi, André, good morning. Thank you for this question. Just like Miguel said, we had a very positive evolution in the ratio with the LTM ratio and with this quarter's ratio, where we saw a significant decrease. When we look at OPEX Cash, excluding Barcas and MS Via, it is a reduction of 0.4 percentage points in the ratio. It is a significant reduction. This was expected throughout 2024. We had been communicating to the market the negative impact of these two projects. This quarter, we were able to capture this portfolio optimization, and it was very significant. Now, to tell you a bit about the EBITDA contribution that they had in 2024. This was about BRL 400 million negative EBITDA. These two projects were together in 2024. That was the value for them together in 2024. In the first quarter, MS Via posted a positive contribution. In 2024, it was negative BRL 40 million, and this year it was about the same value but positive. Our EBITDA was also partially affected by Barcas because it was still present for a month and a half. Its negative contribution was much lower. Optimizing the portfolio is one of our pillars, and this is part of our company's value creation agenda. Thank you and congratulations once again. Thank you, André. The next question will be asked by Felipe Nielsen from Citi. Hi everyone. Good morning. Thank you for taking my question and congratulations on these results. I'd just like to ask about something that has been recurring in my discussions about Motiva and the moment you are currently in, which is airports. I'd like to understand a bit more about how these negotiations are going. I'd just like to see if you have any updates about the format, timing, what you are interested in, if you can give us an update on how this is going. Thank you. Thank you, Felipe. Waldo, feel free to add anything to my answer, but we are continuing in that process that we informed before. The company decided to be very transparent and very diligent in its strategic option. So we are seeking consolidation opportunities in the airports segment. Our understanding is that this is a very fragmented market that needs to gain scale. So this consolidation is unavoidable. We are continuing to assess the alternatives that we have on the table. There is nothing imminent right now. We are continuing to analyze it in our calendar, and I would say that if there are any material facts or any relevant information, if it takes place, it will happen in the first half of 2025. You mentioned the interest in this process, and of course, this was a project that drew a lot of interest from national and international operators. We have been talking to the market in a very broad sense, with strategic operators and with financial agents, with sponsors. We have a very broad range of options and configurations. At the end of the day, our goal is to find a structure that can generate value and maximize this value for the group and for our shareholders. The main drive, the main criterion in making this decision is finding the option that will maximize value for the group and will help us to continue in this transformation trajectory, which we have been developing in the last years. Waldo, I do not know if you have anything to add about this. No, I think you said it very well. I would just like to highlight that given there are many parties interested, each of these parties will have a different portfolio and a different regional footprint. This analysis is tailored to each situation and each counterparty. These are complex analyses, which take some time. When we have something concrete, we will tell the market. Great. Thank you. Thank you, Felipe. T he next question will be asked by Guilherme Mendes from JP Morgan. Go ahead. Hi everyone. Thank you for taking my question and congratulations on these results. Just a couple of questions about the previous question about a portfolio. We'd just like to understand. There's some sound leaking. I don't know if you can hear me. In any case, I'd like to ask about your expectations about your growth pipeline. If you are concerned about the competition and the new players and newcomers, especially when it comes to toll roads. You had also mentioned airports. Last year, you mentioned that you might reduce investments in this portfolio. Is this still under discussion? Thank you. Thank you, Guilherme. Just to give you a quick update and hand it over to Waldo. About the pipeline, I think you mentioned a more immediate opportunity for us now in May. As you know, we will have a new auction for MS Via, which is due to a contract restructuring process. We are waiting for a decision on that. I'd say that this is our priority. MS Via is our priority for the first half of 2025. As you saw, we participated in the auction for lines 11, 12, and 13 in São Paulo. We did not win, but I would like to say that we were very rigorous in our criteria in allocating capital. We were seeking the profitability we saw as adequate for this risk. We're happy about this result because it conserves our rigor in investing capital. We are seeing some auctions in toll roads in regions that are a part of our priority. As you've been seeing, we're very selective in the regions where we work. São Paulo has been a priority, the state of Paraná as well. We're trying to select the best assets to create a high-quality portfolio. This is our goal. There's a mega trend in Brazil in road infrastructure. We want to leave this process with AAA assets, high quality. We're being very selective. We're making choices like we did with Sorocabana and Paraná. We're selecting the assets that are the most relevant for us that will build up this premium portfolio so that we can be prepared for the next decades with a AAA asset. Obviously, this also makes us have a different perspective on our competition. For now, we understand our competitors to be moderate. In the last auction for BR040, there were three participants. There are other parts of the infrastructure market where competition is much tighter. We believe there is space for operators from several types. There's space for strategic players like Motiva, but also national, international investors. We understand that the number of projects today is so high that competition is diluted by the huge flow of assets in the market. We do not see this competition as extremely aggressive. From our perspective, this is also in our interest. The mobility infrastructure segment is doing very well with moderate competition. In our case, I think we have the conditions to compete. This is a good moment for us right now. We are going to be very selective in what we choose so that we can build up a high-quality portfolio. I do not know if you have anything to add, Wldo. No, I think that was it. Guilherme also asked about mobility. When it comes to that, it is an idea that we are considering. We want to bring in a partner to accelerate growth for the mobility platform. We did not win the auction for lines 11, 12, and 13, but we're engaged with some projects which will require a significant amount of capital. Extensions in line 4, line 5. We're also negotiating in Bahia. There are also some rebalance negotiations. Our focus right now is to extract value and also define what are the future capital needs. That will make it much easier to have conversations with parties interested in the mobility platform. These conversations will take some time. Considering asset recycling, this is in our agenda since the strategy was defined. Assets that we believe might be recycled are being de-risked. We're just waiting for better macroeconomic conditions. Conditions right now to sell an asset to the local market are not the best. Since there's no need, we prefer to wait for the right moment so that we can maximize value for our portfolio. Great. Thank you. The next question will be asked by Jens Spiess from Morgan Stanley. Yes, hello. Thank you for taking my question. I just wanted a clarification regarding a previous question on the timing of the airport portfolio sale. I think you mentioned, or at least in the translation, they said first half of this year. Could you maybe clarify exactly what you mean in terms of timing? Also, if you could give any at least hint in terms of the interested parties, are they more interested in the full portfolio or are the majority interested in particular assets within the airport portfolio? Also, lastly, what are your expectations in terms of leverage ending this year and next year? Thank you. Thank you, Jens. I'm going to answer in Portuguese and, well, to be translated to English. Foi uma informação, talvez na tradução não tenha ficado clara. That might not have been clear in the translation, but the timing for a transaction or for any material fact will be in the second half of 2025. If it does take place, it will be in the second half of 2025. This is an ongoing process, and there are multiple parties interested. There are potential international partners. There are potential regional partners. We have strategic partners and financial partners. It is a very broad range of potential stakeholders. The transaction from our perspective will be for the full portfolio. This is our preference. Some of the operators prefer international assets. Some of them prefer national assets, but our intention is to make this transaction with the full portfolio. There might even be a combination of two parties. Maybe one will be interested in the international portfolio, one in the Brazilian portfolio, and they might find a solution for the full portfolio. About the leverage, I will let Waldo answer. About the leverage, as we saw in the presentation, we finished the quarter at 3.6 Nt Debt to EBITDA. Why was that? With the approvals in Rota Sorocabana and PR Vias, we had an issuance of BRL 2 billion and BRL 1 billion, one for the approval and the other one for the required investments in this new concessions contract. These concessions will be added to the portfolio at the end of the first quarter or beginning of the second quarter. Their EBITDA will grow for the next months. There should be a gradual reduction in leverage. Due to our own policy, we always try to be between 2.5 and 3.5 Net Debt to EBITDA. This will depend on the new business we will bring in and the recycling for the entire portfolio. Thank you. Perfect. Thank you, Jens. João Friso from Goldman Sachs. The next question will be asked by João Friso from Goldman Sachs. Good morning, Miguel, Waldo, and Flávia. Thank you for taking my questions. I have two. First, I would like to revisit the issue of mobility that you mentioned. You did not win lines 11, 12, and 13, which was a relevant project. That would add to lines 8 and 9, and that would maybe give you a critical mass in the mobility sector. I would like to understand how this affects you, if it affects you, and what plans you have if you will continue focusing on mobility. I also have a question about CapEx. If we take our CapEx for the first quarter, it is much below, it is far below the target that you had for the fourth that you mentioned in the fourth quarter of BRL 8.2 billion in CapEx. Should we expect this to go up in the next quarter? Will you have an upside in cash generation? Thank you. Thank you, João. When it comes to mobility, we understand that this asset, lines 11, 12, and 13, just like lines 8 and 9, had a risk profile that required a high level of profitability. We wanted mid-teens and up. That was our requirement. The spread of profitability versus cost of equity. This made sense for us due to the risk that we perceived in this kind of asset. As you know, our portfolio has rail assets, so urban transportation in major cities like São Paulo, but also long-distance surface trains that have a higher degree of complexity and risk. Lines 8 and 9 have shown that. We are focused on looking at opportunities for privatization, for private concessions of assets in this segment. As you know, here in São Paulo, there is an indication that the privatization process for these companies will continue. This will provide in the primary market and the secondary market relevant opportunities in the future. We continue to have a strategic interest in this area where we are the seventh biggest global private player in rails. The number of yearly passengers is 700 million. When João talks about critical mass, we have the critical mass, especially in São Paulo. We are carrying 2 million, well, between 2 and 2.5 million passengers a day. We have a great critical mass. Of course, if we had gained the other lines, we would expand this operation right now. But considering our portfolio, we understand that this also gives us space to grow in other segments, especially roads, where opportunities are very constructive. Our strategy will continue. We're focusing on growing in roads and rails. In our portfolio, we have 70% in toll roads and 20% on rails. This is a proxy for what might be our capital allocation in the next years. I think our strategy will continue, but naturally, it will carry different weights into what we allocate in toll roads. It will be significantly higher than the CapEx that we will have for urban mobility. João, concerning CapEx, I understand that this is the information that you have, but CapEx is not stable quarter to quarter. It varies significantly from quarter to quarter according to our works. In the first quarter, our physical execution was at about 89%, which is below what we have normally delivered. There are some delays here in Rio SP and in construction in the metropolitan region, and also Via OSG. In the CapEx committee, where we see all of these projects in detail, we expect this delay to be made up for by the end of the year, and we hope to deliver according to what we communicated. We are working for that. Great. Thank you. The next question will be asked by Gabriel Frazão from Bank of America. Good morning. Thank you for taking my question. My question is about your provisions. We see that provisions have been making a lower impact to your results in this quarter versus the first quarter of 2024. This is something that has always happened in comparing the fourth quarter to the first quarter, in 2023 and 2024. Are you making risk reassessments in the fourth quarter that make for higher provisions this quarter? Should we look at the OPEX to revenue ratio in the last 12 months instead of looking at a specific quarter? Hi, Gabriel. Good morning. This quarter, things have been normalized. In the fourth quarter of 2024, we had some labor provisions due to an analysis that was carried out internally by the company's managers. Since we saw an acceleration in rulings for these lawsuits, we have adjusted our inventory. In the fourth quarter, it was about BRL 70 million. We also had provisions for animals on the road, as we saw in the fourth quarter. Regardless of the cause, the company is responsible. This was also passed on, about BRL 30 million. When we look at the provisions for the first quarter of 2025, and now I'm talking about maintenance provisions specifically, we saw a reduction mainly due to AutoBahn and SPVS. The contractual remainder is much more connected to maintenance. This maintenance is cyclical. We maintained a good inventory in 2024. While we wait for the new intervention, we will have a maintenance cycle, specifically in these two companies. It will be lower until this curve is normalized. The first quarter is normalized for other provisions, like labor provisions, animals on the road, but we may have in the future some slight volatility when it comes to maintenance provisions. Thank you, Flávia. Próxima pergunta. Alberto Valerio. The next question will be asked by Alberto Valerio from UBS. Good morning, Miguel, Flávia, and Waldo. Thank you for taking my question. I'm happy to see these results after some one-offs. It's great to see your EBITDA having double-digit growth again. My question is about credit. How is the financing credit market doing for new issuances? Last year was very good. There was a lot of liquidity. We had good rates. What should we expect for the rest of this year in the fixed income market? Thank you, Alberto. I'll pass it over to Waldo. Alberto, thank you for that question. We have had a very good market in the supply of credit. I would say that the best moment was the fourth quarter of 2024, when spreads were very pressured, were very compressed. Based on that, we were able to do some great liability management. We were also able to advance these captures for PR Vias and Sorocabana. With very good terms, eight and five years, which gives us time to refinance these projects at the right moment in the market. In the beginning of the year, we saw these spreads being decompressed in January. In February, March, and April, we also saw a lot of supply, big offer with similar costs to the fourth quarter of 2024. Right now, for all of the issuances that we've been working on, we see that the market has been good. Most issuances are made to the market in DI or IPCA. We hope that this is how the market will continue. You know as well as I do that this depends on a number of factors that are out of our control. We're being proactive in managing debt. Whenever the market is doing well, we try to advance these captures to make use of those opportunities. Perfect. Thank you. Thank you, Alberto. This concludes the questions and answers session. We will now give the floor to Miguel Settas for his closing remarks. I'll be very brief. We have been here for nearly an hour. I don't want to take up your time, but I'd just like to say that this quarter reaffirms our strategy. Our strategy has been to focus on profitable growth. We're being very selective in the assets we want to add to our portfolio, optimizing our portfolio, helping to solve some structural problems that might affect our case. We solved two this quarter: Barcas in Rio de Janeiro and MS Via, which will be finished this second quarter, focusing on efficiency. We want to bring the efficiency agenda forward in a very assertive way. We are focusing on efficiency. We want to continue with the transformation process, reorganizing the company, planning for our technology and digital investments, investing in GenAI, robotization. Activities that can be carried out by machines are now being replaced. We have replaced some activities with automation. The technology agenda has been essential. That is why this was a very critical quarter for us. One last detail, which is also significant for us, is that we have a new brand identity, which will signal our transformation process that we started 8 to 12 months ago, and which will now have a new strategy, new organization, a new culture for the company, and a new brand to crown this entire transformation effort. Thank you. We will continue to implement our commitment, the commitment that we made to you. We want to continue pursuing our goals and the basis of our strategy. We hope that the next quarter we will be here again to give you the results on that. Thank you. This concludes Motiva's conference call. If you have any outstanding questions, please send it to our investor relations team through ri.ccr@grupoccr.com.br. Thank you and have a good day.