We gave you all some questionnaires. Movida was prized 2020 with the best presentation of the year. This is supposed to have a prize again, you have to answer. Welcome one more Movida Day. Renato Franklin, that is going to be the commander of the day. Thank you all for being here. Thank you. We are going to concentrate here, we have a great message. We have great numbers and results in our structure, especially the positioning that we have today. That is the consequence when we see in the short run various benefits for the company. In terms of the perception of value of the brand or cashflow and value. We're gonna give you more information, we will have trust and reliability. We also We have perception. I want you to concentrate that our sector, what is our company and where we are heading and what we did and where we're heading, to show you how we are comfortable with the company and confident. I speak quickly, just tell you shortly of our story. We did a little video about the last nine years, especially with the IPO in 2017 and how things are. Let's see the video. Please. I am sorry. I'm not able to translate. The sound is very bad, we are trying to solve this problem. Sorry. I think the video, each time I see it, I get very emotional about it. You accompany this history of Movida, we've done here since the beginning of our path. Can you help me with this technical issue? We wanna bring and tell you what we did since the beginning. What are the differential for our construction? I'm not aware of organic growth from 20,000, 2000, and transforming the company the way we have done this. I believe Movida has transformed the sector in Brazil very differently, and I think everyone recognizes this. This slide shows us the big differential. What is our differential? People. We had this carbon-free program before I arrived. This comes from the DNA of the company because there are different people here in sustainability, which we're very recognized and get prizes and award. This is our devotion. Yes, this is so important. To see this in market, this opportunity to create a business model that is to the client and not to the fleet, but for the experience of the client. This brought ruptures, disruption for this market. When we began, we bought Hyundai HB20, "Don't buy that car. It's a colored car. You have to buy a cheap car that's white. There's no market for automatic cars." Everything that was a challenge and new generated fear, and then it was practice of the market, growth of the market. Everyone would say, "How did you grow so much without even stealing people's clients?" We grow bringing new clients to the market. This DNA has focused on the client, bringing innovation, novelties, and bringing an experience, a different experience. We've digitalizations. In the first two years, we were the only company that used to communicate through iPhone. It's very different. Now we are leader in that we bringing this. Our focus is this and agility and our ability of execution. We are showing. Everyone sees that we are delivering. We have mistakes, but we deliver much more and quick. Who does this? Of course, very quick. We have some little mistakes, but we correct them and generate value. What's important is we got this through the scale. The challenge of Movida is different than what it is today. When you start to structure smaller structures, and you see all our directors here, we have a more robust structure than we had before, which challenges each one with a specific focus. We had to open two stores a week, and we needed more money. You will see it during our presentation. 2023 is the calmest year since the beginning in 2014, so it's not in the mind. It is macro scenario. We will show how the cash flow is different from now on. The challenge, the infrastructure, we're gonna show you with details. We can grow 20% of the fleet without even opening a store. It's another execution challenge. Our challenge is to increase price and see the prices, and we will see how this will happen. We will see about the price. We will try to pass this on to you during the presentation. Also sustainability, this is important for us, and we are recognized this. Each time our clients want this differential, and we have the opportunity to choose. We want a contract and a price that is feasible, and also it must be feasible and sustainable. When we look at the future, also we see in the past, the journey, 2,400 cars, we grew, and 65,000 cars when we did the IPO. We also did the IPO here with many people. In all these moments, we had some noise in the market, Rui, that we did a growing plan. It won't pass 10,000 cars. We won't do IPO. Now there'll be stealing of cars. We continued growing and rentability and growing. When we had this year that we did in the last years, 109- 2,000 and 12,000 cars, we did this without equity movement. We have a view of market to see the value of the car to purchase and to see it differently with the demand of the clients. At the time, we wanted SUV, and it wasn't available. This is what we saw. We bought a mix that was available. It was more expensive, we knew we were generating value for the company, bringing clients, 2 million clients, bringing from here to here, 1,100 only in 2022, especially buying cars that would raise the price, that we use this money to invest in the company. This gain of the purchased cars was able, we double the company, maintaining our leverage stable and growing. This is what we're gonna show you, and also how we are positioned differently today because I had a mix, more premium to grow clients, and now I have a great opportunity to sell a more expensive car and sell a cheaper one, so it's a better cash flow. These are the messages that we are gonna tell you during the presentation and also what the company is today. It is important to see, we constructed a company, organic growth of BRL 8.6 billion, and now it's BRL 10 billion. When we're BRL 3.4 billion, almost BRL 4 billion. What company does this? The CapEx is done. The growth is here. You know, the big part are buying cars, the others. We are 6,000 collaborators. You know, robot has registrations. You create a robot, then you put this in the system. We have consultancy that offer automation of back office, and they say, "And you have great digitalization process." There's still a lot to do, a lot to improve, there's a big differential in the company that is here and permits us to have comfort. I would like to show you something that's important. This is our new organizational structure. We are changing and consolidating and for the company. Every cycle, we're gonna strengthen our company. The last Movida day, we had also important evolutions. Now we are organized with senior executives and with focus and responsibility to each BU and transversal areas we have today. It's not Renato and Edmar that are doing CFO. We have Jamyl that's with us since the beginning in Rent-a-Car. We have Felipe that is with us for a short period. Now with him, he has senior directors that are all dedicated. We have Seminovos with Danielle that is purchasing this. We have three businesses that are independent companies. This is important because everyone is scared of ACS. They did a transaction. It was done by João Bosco. Of course, we are company. Everything consolidates. There's no distraction. There's a little more of synergy. This Portugal Drive on Holidays is independent. two executives that we were going to bring you here to them to organize. There's a lot of other challenges there. Always we privilege work. This is going to give you visibility. We have Ricardo Esteves, and that was CEO, and we brought Pedro de Almeida. He was CEO for great car rentals, and now he's in Portugal. These are people that don't distract us or neither of us here in this room. The same thing with SAT, where we had the opportunity to also introduce you another peer that we're in charge of tracking revenue and also generating experience. In the other side, we have at the operation level, transversal, that generates in all the functions and with more integrity as we are growing. With the structure that we have available today, it has to be more comfortable and generate more value than we do today, reminding you that we generate values and strong delivery. When we look to the future, yes, we are very excited. Although we have a macro expectation with high depreciation, we live through a year with a different scenario. Our history in the last nine years is a macro scenario that demands and cause demands challenge high interest rates that makes people rent cars more than buy. The fundamentals, the target of our business are even stronger and are very important for us. This, for us, this is the basis of our company. We are representing 6,000 people. Movida represents 6,000 people. They're many different people, passionate for what they do. When we receive you, we want to comment on the energy. I'm only a mirror that reflects this energy. The knowledge that we have, you know, sometimes we joke that sometimes we should receive an award because who gives these awards are the people, only representatives of the company, but the recognition of the population that knows what we are doing, how hard we are working. I'm going to show you a little bit of each business and who's heading all of our business. Then we'll go into our technical challenges, and I'm going to call Jamyl to start. Okay. Jamyl, you're bold. It's different. You're a different person. Okay. Good morning. It's a big pleasure to be here with you today. First, I would like to introduce myself. A few of you know. My name is Jamyl Jarrus. I am Director of the Wholesale of Rent-a-Car Movida. Been working for the last 21 years, nine years in Movida. Renato and I were the first one to join a company that was already focused on the client. We made all the transformation, assembling different teams, focusing on the climate and the client, working for the client. I'm going to focus to show you the potential for this market and making a simple comparison with other countries. Here on the right side, we have the penetration over the population. Brazil, 7%. 21 years ago, when I joined the market, maybe another century, Brazil was a very low, 5%. USA below 8%. Peru, 10%, and Canada, 9.7%. Today, we have a capacity of growth of penetration population, very high rate. We have the possibility of more rentals per person on doing more negotiations with the same person. We have also a third sector in our business that is to bring international tourists, increment and explore this niche. What we are doing at Movida in the last eight years in the international market, we already have expressive gains with a very healthy team, but we still believe that Brazil as a whole has to do more, and we are going to raise these figures. Renato mentioned this. A couple of years ago, we did not only divide shares. We are not looking for slices of other's peoples. We developed this pizza with quality, with different services, believing and bringing layers of clients. Now showing you these figures. These are the figures that we have here in Brazil, 545 rented cars. We look at this and if we look, we have a growth of 70%. I'm not saying that this is an easy task. My boss, they think that my work is easy, and what we did up to now. Again, with the best teams, sales, operation, marketing teams, and we have contact with this, our clients. We see how easy to work with all this good team. As I was mentioning here before, we used to rent a car, and we rented the car only when we got to the U.S. For instance, I used to rent a huge car in the U.S. when I got there. Now today, we already have this range here, all of this range here in Brazil, fruit of our strategy during the pandemic. Pandemic was not good at all, but, you know, but we're focused on the car. Our cars became stronger, a strong business during pandemics, and world culture was favorized. These are estimates of the ABLA that mention 23% of growth for next year with huge possibilities of growth. Our next slide, please. I am going to summarize in three points. Strong growth. I've been working in this market for the last 21 years, and I never saw this market grow below what the Brazilian economy grew. Strong growth. Resilient, very resilient when in the pandemics. When we see this, when what concerns tourists, the first segment of tourists were cars, rented cars before hotels and airplanes. I'm not saying that this also airplanes was positive because people travel. When they get to their destination, they rent a car. Of course, if you didn't have trips, people will not rent cars. If we won't have airplanes flying, unfortunately, we reach below 5%, people had to choose the cars. Our families had to rent cars, there was no problem, so that this was possible. They started exploring, traveling by car in a different way. This makes us believe strong growth resilience and a very promising market from now on. What did we do in the last years? We added more of 1 new customers. We have the possibility of penetrating the Brasília. Prices transformation, very important. We had to change these prices. Cars also, the price of the car, of course, assemblers raised the prices. We have strong inflation at our doors. We have to transform these prices. At this point, we were the main characters, we did well. Our clients, when they see the benefit in cost in renting a car, we are not talking about the price fixation, we are talking about cost benefit because what concerns the delivery and the prices, we have the best services in the market. Speed, digitalization, and the best product. Our prices are far below our competitors. Where are we heading to? Selective growth. We want to grow in the best sectors and the sectors that deliver a medium ticket. When we divide eventual rental and monthly rental, I will show you the price on daily basis. We have to start working on daily basis, and I think it doesn't mean that we're not working on the commercial side, but we have to make a larger transformation. We have to evolution on the tools of the yield management. During the pandemic, we had the first offers of new models. We gained new models, we bought new models to have a different mix. We are now going back. Luckily, our market makes us believe that this is going to grow even more, manufacturers have been assembling new models. These are cars of entry, we are again doing this mix transformations and delivering this to our clients. Also, of course, the best benefit for our clients. Again, I'm going to show you our differentials, Movida differentials. Renato mentioned, already he mentioned everything what is in the slide. Today we have the most modern fleet in the country, capillarity in all the states of the confederation, agility, and the whole process of the stores. We have a web check-in that we implemented in the second month of the pandemic. Nobody was stuck. We had a check-in in their smartphones, our clients. In 60 days, we were able to put our app, set client satisfied. We are pioneers in the attendance of the market delivery plus e-commerce. During our discussion, we observed that companies and the great wholesalers were delivering more during the pandemic to our houses. I used to see in front of my building, there was a new fleet arriving there. I'm not going to say, I'm not going to mention the models, but there were cars 2014, 2018, 2020. There was not a standard, a pattern for all the fleet. We aimed at a client, at Movida cars, and we saw that the dealers, we need a new and unified standardized fleet. We closed agreements with new wholesalers. Brazil is such a strong country, and small and medium companies are the ones that are supporting this market. Small companies were not able to buy 180,000 cars, but they were able to buy many more motorcycles and rent people to deliver their services. The first rented to accept Pix as payment. The first one to make decarbonization in their rentals. Before people talk about ESG, in fact, Renato said Movida was already thinking and ESG and sustainable and was already offering for its clients. This was relevant during the pandemic. We and we clients, we woke up to this. We are participating in decision. It is a contribution for our final client, part of the client and part from our side, because we are also sharing what we can do. We have opening of agreements through the tablet with clients. When clients have to deliver cars and getting a plane became much more easier. We have flexibility and fidelization to the client. This without stopping, this was an exclusivity with Sem Parar. This we have exclusivity. Four years ago, because we were unable to do this because they didn't have net technology. Nowadays, we host the business, and we are doing very well with our clients. Here, the classification that I mentioned to you, there's the eventual medium ticket, 2022. Now it's 54%. The medium ticket, monthly medium ticket, this is the transformation. We have a high volume of monthly cars rented. We have this average ticket and this process during 2019 and 2022, and we still are growing. I'm still growing in this segment and a lot. It is very important that our client recognizes that we have a good product and remains with us because we rendered good services and our prices are good. Now, we reached BRL 139 to an average ticket of BRL 150 this month, this year. We're still working and interest rates, inflation, we have to work on this specification. Here is the balance of our sales. In 2019, we had 65% of our dailies, 35% in monthly dailies. This our clients were more time with the cars. This was a characteristic of the purchase of the pandemic, and we went to more than 75% in pandemic, and now we go to better levels in the average ticket. The orange is the average ticket that is higher. Slide shows in the corporate market something important for Brazil. We say about individuals in the corporate market in Brazil is enormous, and this is a characteristic, and this is very positive. In the week, we have more corporate, and in the weekends, we have individual people. This changes, it is divided between these two markets, and this makes it very more potential. We had 70% in the corporate market and the average ticket, the client continues with us. We're growing average ticket, gives a bigger revenue of a 185% in facing the growth. Our competitors grow, but not like us. This is the slide, final slide. There are highlights. This is important for us to see that we do 243 changes of tariffs every day. 83% of our corporate clients are flowing rates. In Brazil, no corporate client had fixed rates 12 months. We started this movement. It has been doing well, and it's good for us and client. It is also more right in terms of the moments. BRL 3,200 is the revenue per car. 67% of the contracts are digitalized, the opening and closing in the tablet. BRL 139 is our average ticket in the last trimester, and that we are going to BRL 150. This is also... We have more than 250 stores, but we have the coverage of the network that have 96%. 96% of the passengers that go down in an airport, we have a store in these airports. This is it. Just to reaffirm, we still have a promising future in retails. Thank you very much. Felipe, sorry. Oh, good. Okay. Hello, all. I'm Felipe Zogbi. My story in the last eight years, I've been in front of expansion operations in a big pharmacy company. In six months, I am in this company, and I'm happy to join you all with so much energy and the opportunity to be with you to speak about long range. I'm going to bring you little bit of the view of this channel, which this is a channel of prosperity and a proximity with our clients, and also it reflects the DNA of our group to understand the need of the client, do his journey a long range. This has been transforming, as you know. We grow the ticket of 2020 to BRL 1,300 of ticket and already in 2022, near BRL 1,900 of ticket. This shows our strength to grow in services quality and different kind of fleet and positioning in prices. Also we go from a volume of 40,000 cars, and we arrive to 180,000 cars in the year of 2022. This, when we look at this in the long range, when fleet and the speaking about a signature cars and also we have a view and appetite very big to advance in this market. João is gonna speak about the fleet, and now in this, I'm gonna speak about the signature car, the subscription car and also which market we're speaking about retail market of 2 million cars a year. We believe that when we bring this to the retails, 1 million cars, where we can obviously have a change in behavior of the society about subscription cars. We've seen this in the last years, and this is the DNA of Koomli by being pioneer in innovation. We started in 2019, and we have been successful in this channel. We believe in this very much. We will be a leader in this transformation mindset in this market. In terms of Movida fleet, you know it's a more mature market in Brazil, enormous 8 million cars and corporate cars. This has 6% of this penetration. This means a market that's enormous for us to advance. In 2022, what did we do for long range? It was a lot of opportunities. We renegotiated and pricification. We have more services, more proximity to understand the client. We had the opportunity to be recognized by our clients. This has to do in pricing. We see that the fleet is not only of big companies, but our team was very strong in the medium countries and B2B companies. From 2022, we have a diversification, very strong, but also the whole journey of services, the support journey, the stores. Lucas will speak about services. We have to grow and have good services. We have to have quality. We did this homework in 2022, and our clients recognized this. In 2023, what are we going to do? One more step in this journey of digitalization, more information for the client and in the journey of consumption, and this is what we wanna focus on, so we can have a more diversified in various channels. This is the focus in the terms of 2023. In numbers about digital strategy, just to give you an example, since the moment that we faced digital and a new site, new staff getting closer to digitalization, we accelerate the conversion of our channels. We implement CRM tools to be able to have a closer contact with the client. We transform data into action so we could deliver better products. We grow to transform in leads in the last two years with this strategy. This is very important. We have to generate results. This is all this investment in the last years. We grow from 2022 to 17%. Our basis of clients grows 50%, not only big ones, but also medium ones. We diversified a lot. Also, when we see the fleet by client, we went from 34- 27, 23, that we can pulverize with these new channels and depend less on big accounts. They are important for us. Also, it's a strategy that we want to be present nationally in all levels of company. Here I'm gonna speak about subscription cars, and this market is very spoken about with these new assemblers entering. Remembering in 2019, we are in this channel, we are going to invest a lot in 2023 because the DNA of Movida brings this experience of the client, of innovation, of change and pricification, and we're going to bring this to subscription. This is in our blood, in our team. We're going to deliver this with a lot of quality. The digital mod that we will present to you soon in this journey is also great, and we will be able to see this in the hand, in the web since the moment of this experience of this service. This is so great. More quality to deliver to the client, without doubt guaranteeing efficiency, to guarantee profitability. Growth of 91% since 2020, the results superior to more than 500%. This is a new market, we are going to be pioneers in this journey. This is it, my part, now João is gonna speak about the fleet. It was a pleasure being here today with all of you. Thank you. 16 years with GTF and with the first contract with 528 cars. It's a pleasure to be here to speak with you. There are some things that we did in 2022. We maintained leadership and success in bids, we participate in 5 competitions. We have a growth in the fleet and amplified, which was important in capillarity in the country and service. When we don't go to a state or municipality, when we have little competition, but when it's bigger and where we can have scale and growth and conditions for competitivity, there we are, and we follow this with this growth. What do we believe for the future where we're heading? The public competition, as you all know, is a backlog that's very important, and it is immediate. It's a big volume of implementation and CapEx, and we believe in the sustainability of new contracts for the future. The scale, of course, is a challenge for service and also challenge of innovation and efficiency and nothing more than being in Movida that faces this and contributes, and we are all together facing this. Let's speak a little about the numbers. 2022, these CS Frotas. We have 601 clients, 42% of growth. New clients, expansion in four states. 959 contracts, this also shows that we are also growing, and also we are 53% more than 2021, with 386 contracts higher this year, more than 10,000 vehicles. 220 public bids, and we still have a few more occurring. We have many competition, 59% more than we had in 2021. 95% of electronic bids, and this is so important. The success rate, 59% of what we participate, we have won 16x more than our second competitor, shows the ability that we are developing along the years from the first contract in 2005. Lots of work, lot of recognition. We have positioned ourself very differently. On the right side, what we believed in and why we have grown so much. In this survey, it shows 900,000 vehicles in state, in government. This is also in terms of the 520 that we put in the target market in cities from up to 100,000 inhabitants. When the average age, it's very advanced, and we believe that the governments are going to seek efficiency, and they want good service and quality for their services that they are hiring. Everyone is very sensitive to this when we speak about outsourcing, and this is also very important to get a good part of this market. I'm going to talk now a little bit here. Out of here of the overview of the 2022 against 2021. The incorporation that happened in July 2021 against the figures of September and our third semester, we grew 112% in clients by a contract. Our base clients, this shows 94%. This shows the dilution. Of course, we like big clients. It is important. We are very well-positioned for big clients. The issue of dilution of by segment or by agreement is also very important. Our operational fleet also grew more than 53%, figures until September. Our total backlog, we grew 71%, showing that we are very well-positioned and towards 2023. We are doing a lot in the long range. I'm not very good as Jonil to speak, so I'll show you now a short video. CS Frotas present in the market since 2009 is the most important fleet in attending clients and public center and mixed economy. With sustainable growth, solidity, capillarity, we overcame challenges, and we maintain accelerated growth. We have more than 200 bids, more than 59% more than in the year 2021. A growth 52% in the revenue service. 42% more client. 22% growth in our operational fleet. A company 100% transparent and with practices world-renowned. We have working in bids 100% monitored electronically with restricted access, policies that are certified by independent companies. Our transparency portal releases our bids in the public center since the bid until the end, till the termination, totally transparent. Re-recognized by the UN Global Compact as one of the four most important governance actions in Brazil with total transparency. We are CSV, a Movida company in Brazil. Rafael, thank you very much. Danielle, you have the floor again. Hi, good morning, all. It is a pleasure. My name is Daniel Morroni. I think that all of you know me. I work with new vehicles. I've been here for the last one and a half. My background also worked in the automobile industry for 25 years, services, sales, and post-sales. I'm going to show you here a little bit of our business, but I want to tell you about our new conquests. I'm going to talk about the semi-new markets and the size of the semi-new cars. We have a data that for now that shows the size of this market, of the sales of semi-new cars. We have only semi-new cars from one- three years. For semi-new cars is BRL 1.3 million, and the total market is 10 million cars. To give you an idea how polarized, how spread this car of semi-new and used cars. As a reference, I wanted to show you the evolution of the semi-new cars, meaning from one- three years, we have lots of possibility to sell all these cars. Our sales market share, we are building our brand of Seminovos in the market, and we have a very important evolution, this market share, from 4% last year and ending this year with 6.4% of market share in the participation of the market in Seminovos cars. Huge market for us in full growth. You can see that we still have a huge space to work and also to release our brands. Another very important data is how much are we are preparing to sell our cars. This is a very different product. The market changed. Renato told me that we have a target. We have to sell what we have in our stock, and our sales stores have to be ready to sell the restore. It's a very significant change. Our average ticket of total sales from BRL 43- BRL 76.77. This mix change because our mix change and our stores are prepared to service this differentiated public. 70% where 39% of UVS and here there's 7% above BRL 65,000. Our network is prepared. Our team is prepared to sell the product. Many people doubt our capacity on making these kind of sales, but we are showing that we are prepared, and we are conquering not only volumes, participation in the market, and changing the profiles and being ready for this new profile. This is a very important data that I wanted to share with you. Our next slide, please. Also wanted to talk about and what we did. We raised our participation, our volume of sales. We expanded and standardized our stores, we look like car dealers looking, showing a different journey to our journey. I'm going to show you some photos. We have a larger, big exposition, exposure of our brand. To show who Movida is, we have our own car dealers. We have to have the largest debt of semi-new cars. Also, we focus on the channels and digital tools. Where are we heading to? We want to maintain our sustainable growth in sales, but also in wholesale. Also, we want to digitalize and simplify the journey of our client, also to improve our journey with our clients. A little bit more of details of what we are, who Movida is, and our differentials. This is very important because we are talking about products, quality, product quality. We transmit trust. We have one-year guarantee. None of our competitors do this today. We also have a kind of documentation that proves that our cars are okay. We have also a different concept of stores and standard stores that serve the clients well. Most modern fleet. We today have the most modern and new cars in the market. This is very important for our new client with semi-new cars, with the best maintenances. We have digital DNA. We have a 100% integrated site. We sell a 100% online product without the interference of the human being. Everything's done on site. We have integrated and synergy between operations. We have a platform of trade-in, a platform to sell our cars in the wholesale market. Something very important to mention that we are under umbrella of a group where we have a lot of synergy among. We have car dealers, we have our own bank, our a carrier. Everything brings synergy and efficiency to our. We have our exclusive patios to serve our clients and to serve our clients that are store owners. Most important of all, we have an engaged and prepared team, motivated and passionate for what they do. Finally, I would like to focus on our clients, and I will focus on the client with our iNPS, Seminovos. We are the only car rental with this certificate. Everything that we did today and what we did, we are expanding our stores. We were used to be 69, and now we were 70, and now we are ending this year with 70 new cars. One the main retailers, and we represent 50% of sales. Here were the openings here, but we had only an idea of the standard and the kind of stores that we are prepared to serve. This is very important when you sell semi-new cars. Also highlighting of what we did this year, we reinforced and we modified we focused in digital tools from 200,000 accesses to our site. We have more than 380% of interactions, more 11,000 through apps with our sellers. We have more than 700 sellers in our stores, a higher release to explore our brand in digital and offline channels. Robust plan of CRM. We have a giant database, very impacted more than 2 million clients this year. All so we have in our own bank, where we have finance plans, and we had a new plan, Movida para toda vida Movida for your whole life, where you have two years without paying, and you can change your car at every three years. Total flexibility to our clients to buy a new car. In-investment in the CRM tool for the management of the portfolio via clients, our retail clients. We have the broadening of the portfolio of our client, retail clients, more capillarity and more clients in our bank. Finally, we launched a new digital platform to sell our cars in the retail segment. To finish my presentation, a little bit of our focus. Where are we heading? We are going to expand our stores. We see that we are present and the main places and the main cities where we make a difference. We will continue expanding our retail stores. We also are going to raise our sales and our retail platforms. This generates more margin, modernization and simplification on our sales process. This is a huge differential. Good attendance, agility, speed. We are going to focus on this modernization and to improve the quality and turnover of our assets with the implementation with our training centers, with our cars will be better, and we will become more efficient in our attendance. We have a new system of pricing. This is very important also because the more we assertive are, we have many robots that are monitoring the market and that prices do this kind of pricing. We have more than 200 different models in our stocks. We have a new model of pricing that we will launch in January. We have a more assertive distribution, focused in profitability and focused in assertivity, focused in the vocation of our markets. We are very optimistic that we have a strong growth, releasing our brand and becoming each more a reference to our consumers when they will look to buy a new semi-new car. To 2023 is a very promising year. Lucas here, you have the operations. Thank you very much. Good morning, all. I'm Lucas. I'm in Movida since the beginning of the year. Before I was operations in electrical and food business. Before I also had experience in operations in telecom. This is a new challenge. I'm gonna show you that we have challenges for the next year, especially. In speaking about 2022, we concluded the opening of 49 new stores. I'm gonna show you now we're opening new style of store, different than we did years ago. More infrastructure for the activation, more comfortable for the client. We revitalized 80 stores for this new concept. I will show you some pictures. You will understand the new store, more comfortable in the ability to deal with the vehicle, so it could go back to the rentals and also reduction in cost but for the fleet in all the line of operation, in our scale and optimization of the supplier, also digitalization of the process. Also the service process, we were able to digitalize this. It is quicker to have a car with us and also 65% of the contracts that are processed in long term are digital. This could be web check-in or through tablet, various tools. Because of all of this process that we are doing with the stores and the investment to have everything more agile and digitalized and for our team, we were able to get an iNPS of 83% in Movida. This NPS is with the evolution for 2023. We are going to continue doing store expansions. We have an infrastructure to be able to deal with the growth of the fleet. We are going to continue with the stores and digitalization will continue. We will advance also not only in digitalization for the client, but also internal digitalization for us, for proactivity. We have initiatives and very efficiency in the process of the assets. Like this, we will be able to process. Then prepare the car quicker for the sale of Seminovos. All the stages of this asset, we were doing important investments to be able to do this quicker. Obviously, you will see our store today is able to do the treatment of the store without selling, without having to go to outsource. Or for gas, the car is ready quickly for rental. Just a little more info, some highlights. Speaking about expansion, not only opening new store, but it's a different store than we had in the past. We have fuels, maintenance, we have also cleaning to do, quicker cleaning. Of course, a better service and also that brings comfort for our client. The preparation center we have invested in very dedicated, so we could do the preparation of the car. We are gonna make available for Seminovos. We do this in very agile ways and not depending on outsource. Digitalization is also something important. We have been evolving. 2022 was a year important, 65% as I spoke. Obviously, this is going to make us be able to be more productive in terms of service. I'm gonna show you in the next slide a little of our new store. Here is a store of Porto Alegre, the airport, where recently we inaugurated in 2022. You can see that there is a bigger space, a kids space. There's also a service area that is more spacious. It permits a lot of agility. Also we have moments of a lot of people, and they come all at the same time. The vans are always prepared to bring the client to our store. As I said, it is also important for the turnover of the asset. If they need to... Everything is in our area, and this is available for rental. This is a big challenge in terms of efficiency for next year with the operation part, and this, of course, costs money. We are going to bring more infrastructure for the process to have availability of the cars with lots of focus in the service for our client. That is always the center of our challenges. Okay, thank you very much. Renato is gonna speak about DriveOn. Okay, thank you very much, Lucas. Each one has its own responsibility, challenges. I'm gonna speak about Drive on Holidays. You had the opportunity. I am reinforcing this. In Portugal, we have a small market, very fragmented, a big growth because we are reinforcing this. We have many sources, but 6% of this tourism is Brazilian. Brazilian tourism in Portugal is growing, and the European tourism is less because of pandemic. Of course, the big part is of Europe. It is important to contribute with Movida for the business in Portugal. This is the distribution in the cities. We are present in the main airports, and we are going to grow in the city for other niches of Bix, like corporate, subscription. There, it's only for leisure. What we have there that is different, we have a leadership which is independent, and the standard of store is this way, as you can see. It's this above, which is their brand. We are going to change. This is the project. This is the Drive with this Movida brand. The client will feel that it is in the same group, but with an independent management and brand. We in March are going to have all the stores in this standard. Then we liberate our site to sell there. We have authorization and all that. We wanna guarantee that the service standard is what the Movida client is used to. So we have to bring this there. There's also things that we're gonna bring from there. We have 3% of Eitech. So we're able to increase the offering of stores-- of cars, sorry, and we are having offers, and the relation is that we're having negotiations. This is helping to have more cars there. At the same time, they are dealing with this, doing all this. You can do a little. The assembler wants this. It could be interesting. We are going to open alternatives. I brought a bigger picture of a, of a store. This is a real store, a big store. It's not like this, but it's gray. The Drive is small. This was just a picture. It is going to remain with the c- This look of Movida that is similar to the store in Porto Alegre, this here of Drive. We have changed some points there because of the growth that we are expecting in some of an important stores of Drive. Just wanted to show you this quickly, and then we were going to introduce the two executives. Now Jorge is gonna speak about SAT. Jorge is with us, and he is setting up this challenge to give value to the company. Good morning. My name is Jorge Bau. I'm gonna speak about my path. I was the founder of Sascar, and I started in 1999, and I stayed till 2009 when it was sold, and we started with a very small capital investment. When I left there, I founded CMS together with Bradesco Seguros. I stayed till the end of last year, and then I was invited by Renato to participate in this new challenge and bring to the company a difference in relation of the service. Also, I am the CEO of 2017 since last year. I maintain the two companies as responsibility, and now I have this new challenge to automize in excellence in terms of operation, automizing and being able to make benefits for all. SAT was a company that was created in 2022. The goal is to improve services, but not only Movida, but also the group and also the market. We verticalized the assistance part, and it's 24 hours. It is done by us, not only by Movida, but for the whole group. What we have a service and quality to be able to give important actions and also for this client, and this should be a big differential. We have technology. We have a technological platform from China. We're going to produce equipment with software that will be internalized, that we developed this year. We're gonna increase the level of service. We're going to optimize costs and also operational inefficiencies. To give you the idea what we're gonna do, the connected car from one point to the other. When we will have this available from the assemblers, we're going to install our equipment. This car will have its own history since the moment that it was implemented in terms of rental, washing. We're going to parameterize this process of the life cycle of this car. We're going to put alerts, and we're going to work with the preventive issues, correcting things that are outside our curve. We're going to do everything through an automated system, giving quality to the company and also differential, and this will be in the operation. In consequence, ROI. Besides the part of doing this all management of the operation, we are going to do the recuperation and also frauds. We will be sure that this is all internalized, so our software will bring ROIs for the company in terms of this. I think this is to tell you what we are really doing with the SAT. Thank you very much for your presence. Thank you, Jorge. Thank you very much. Thank you all. The structure, we are dedicating to every pillars in the company. That's why we are going now to a more interesting, showing you numbers, figures. Everybody, you know, have their own people working. We're talking of asset management. This is a competence. We already saw this, that this is part of our business. In Movida, these, the management assets allowed us to have such a good strategy and have a 1 million client. We are going to show you what happened with the prices of new cars. The prices of new cars are raising. We had accumulated inflation more than the normal. 23% accumulated inflation, while the normal figure was 4.5, more than the double. This is already stabilizing. In 2022, started it is stabilizing. Our message is even in the challenging scenarios. When we saw these prices, the prices of the new car never drops. You're talking with all the assemblers for the most part of the beginning of 2023 is one, that there is no less half, there is no drop in the prices. New cars will not have drop in prices. They will still continue raising. We have more inflation, 7%, but I think that we have good chances. Our scenario today has all this, the renovation of the production mix. In the beginning of the year, everybody said we are not going to produce cheaper cars and cars that have a larger margin of profit. This is not happening because with the inflation of the new cars and the power of purchase of the Brazilian is not enough to buy new cars. They are producing cheaper cars. When we are talking about this, I'm going to talk about the prices of semi-new cars and zero-kilometer cars. Of the prices of the semi-new cars is dropping. You know, this is not we don't work like the stock market. It drops, but you know, it have a limit when you have the percentage month to drop and to drop. In January 2019, there was no pandemic. You know, they dealers have a little discount. Then, you know, they get to one, then, you know, a little drop. This is 2019. And a drop, let's say, a half%, depending on the model of the car that has the drop in FIPE. What we see, we have stronger figures in the adjustment, and we have another bar here that it means beginning the end. This means normalization. Of course, we have a macro scenario, challenging scenarios. With the reduction of the IPI, we don't, we don't see too many huge changes, but the normalization. In the other side, when we look at our business, when the FIPE drops here, what happens here? In the lower part, you know, they talk between each other. My sales decision has to do with the lower part. When I see the orange line is the production and the gray is the licensing. You see the stock, what is the leftover. Everything every time that the orange is above means that we have more cars available, more discount. Pandemics, people buying with discount. Pandemics, you start licensing, you have not large production, less discount. What we have today, again, unglued. That's why we have the discount in the middle of the year because you produce more stocks. Our reality today is that many times I have cars that I foresaw that I was going to sell it, that was to sell to BRL 70,000. Hoje, when a brand-new car is BRL 75,000, BRL 75,000. You know, with my semi-new, I would reduce BRL 2,000. You know, but meaning that I am going that I also bought my semi-new cheaper. I had to have the depreciation of my car when I was going to change, to have to get a new car. When I look at 2023, obviously, I say I'm going to renovate with more cars. I have to see a new cars, the new cycle project, of course. I have the adjustment. This interferes in our sales strategy, buying strategy. This is a very good moment. Why? This is what we can see now. The purchase mix, we used to buy, we used to buy 70% of the cars, of the entry cars. This was pre-pandemics, 2019. This was reused. During 2021, we bought less than 30% because we had demand for these cars or basic cars and potential for valuing and availability. We bought these cars. Now what is happening, things are going back. Because we have access to these more expensive cars. Look, take a look at the difference between October, November. We are more buying more percentiles or zero point. We look at November, we had more than 90% where with additional offers of the zero point cars. When I have a company looking what's going to come, it's much better. It's much better because I'm going to buy a cheaper car and sell a more expensive. Now we're going to detail this pricing. Good morning to all. Edmar. I'm working here for the financial area of the company. Well, you know, people that only know me through the internet. I'm not Jamyl because, you know, I'm, you know, but he's heavier than I am. This slide we have been showing, and this is going to communicate to another session and showing the challenges. What happens? This is going make you understand a little bit of what goes on. The first point, as Renato mentioned, during the pandemic, we had a different strategy that proved right. We more than doubled the size of the company and our revenues, and now we are facing a moment and where offer is going to allow us that our clash of dynamics is completely different than the one that used to be in the last two years. Looking at this slide, basically, we are saying that every time that I used to buy or get a car, I had to make an effort that it started in 2021, with BRL 5,000-10,000, this is the basic history. We had 24, then we started dropping in the middle of the year when we said that we would decrease the CapEx. Here, there was a result of our second semester when we were going to reduce the CapEx, either in the amount or the price of the car. The last semester showed that at every BRL 24,000, it became 12%, and what we are showing today are the figures of the last two months. In the average, you can already see that that was 24 is already zero. The CapEx here in our renovation changes the dynamics, compared. This happens fundamentally in the short term, where I had to renew 74%, and I had to place BRL 20,000 in each car. This same account now, according to this thought, is going to be close to zero in a very short time, that it would be BRL 1 billion, that I have money in cash that will be reduced to close to anything. This is very important to understand the dynamics of the cash flow of the company. As we anticipated, in order to tell the market very clearly, this is already happening. The trend is there, but the threshold changed. You know, we are close to zero now. This changes the dynamic of our cash flow. When we look at the ROIC, where we have the effect is positive, that if in this trend continues, we have another threshold of purchase because the efforts in negotiation and purchase equated to this strategy and sales is there. Is already ahead that we already have and we have to sell it. We don't have only one brand, we have all brand. Only to remind it, if Daniel showed you that the average price is above BRL 75,000, this price includes retails. The RAC car goes to the wholesale. This is simple mathematics. See, if there's already BRL 80,000 and I'm buying it for BRL 70,000, these numbers already became positive figures. Where this agrees comfort because this my store is going to sell a car above BRL 100,000. Our store is selling above BRL 100,000. When we say BRL 70,000, this includes our mix, our wholesale, but with a smaller average ticket. This means that we are selling and supporting ourselves with the models that we invested with more comfort, with more experience. It proved that we were right. Our strategy did very well. It cost a little bit more of CapEx, but also show us more competitive advantage. Our main commitment, our main commitment of value generation, we are here to generate value. We don't have the commitment to grow. We are now committed to generate value. We are going to talk a little bit more about this commitment. Let's see here our chart. Okay. Our people really worked hard. Here I'm going to show you the cash flow. Okay. Now our previous slide, if we are understand that the dynamics already changed and very quickly, the dynamics of two years ago changed in the last six months, what do we have here now? This is basically we to show you again what we generated before the growth. This is an indicator of the sector. Here, this is the orange line. We show the innovation CapEx that again reflects what I just said, BRL 20,000, typically to make the renovation of a car. In the margin, we already showing zero. What is the effect of all this? In 2021, after the cash flow generated, including renovation CapEx, was negative. The dynamic of the 20, it became negative because of this dynamics of larger expenditure in the innovation of CapEx. When I see 2022, it's only the effect of the last trimester, it already became positive. We have BRL 1.3 billion in nine months of 2022 compared to the whole year of 2021. This dynamics that we are showing now presently, where the reposition of the renovation of CapEx is much smaller. The generation of cash before growth goes above BRL 2 billion. What is the great test that we issue? The great point is the change of threshold of the company. If you look before the pandemic, we had more than BRL 900 million EBITDA, annual EBITDA. That were the 2021. This was the number that we had to issue the bond. Today, we are doing this every months, every two months at the same level that we did in the same at a year. We multiply that by 4 EBITDA. The fleet doubled, our clients raised in a 40%-50% in the raise of active clients. When you look at EBITDA, we are talking about a multiplication by 4x the EBITDA. We look forward where we hear sensibility. The dynamics change also. Again, I used to have a negative cash flow before growth, and now I generate approximately more than BRL 2 billion. We have a delta, more than BRL 2 billion and a half without changing anything at all. Our main message is BRL 1 billion in nine months. In the 12 months is even. Another important message is the capacity of the company to generate cash very quickly without already fuel. You can easily opt not to reduce your fee. How can we grow without echo? It's because our business have an asset, liquid asset, with the equity. We generate BRL 2 billion cash in three months, our threshold is our baseline. Today, we generated double. That is why we don't have any concern or restriction in the cash point of view. We have liquidity, the flow, our cash flow, BRL 1 billion is already positive from 2020, from 2021. We were changing our fleet from cheaper to more expensive. This new flow represents that we have more 1 billion BRL. Today, we have a higher raise. We are not doing any simulation. We are doing an exercise looking back nine months because this is very important because during our conversation I can see that our cash flow is not very clear to all of you. To talk about EBITDA. We bring in the trimester of 2020 showing that the EBITDA of rentals was BRL 270 million, and now we are at BRL 800 million just in the rental of incorporating still the increase of prices that we are incorporating. Jamyl said about the famous BRL 150 at the end of this year that we launched this challenge a few months ago, but we hit BRL 139, but we're going to get to 150 trimester month. The fact is when you look at the half of last year, we're speaking of doubling the rack tariff. Just for you to know what we're talking about, a year and a half ago, when we launched the challenge of changing the baseline of the tariff of BRL 75, now we are now facing BRL 150. Why? Because we need to. No way out. We have to increase. This reflects in the increase of the rental is here. The rental is gonna continue growing with proportion, Seminovos loses, but the growth of the rentals will increase. 15% reduces the percentage 'cause the basis grows. There'll be a growth in EBITDA in terms of rentals. It will compensate the Seminovos, which is in terms of margin and nominal EBITDA 'cause it grows through the scale and the ticket of sales, diminution of the issues with Seminovos. We always like to think the guidance that we have two years, help me if I'm wrong, where when we launched guidance to get to 260,000 cars, we didn't expect that it would be the way it is. Let's remember, we were in a scenario of interest rate of 2%, 3%, and no one thought it would be 14 in this scenario of economy and political that we are today. The big issue today, in two years, we are two-thirds of the way. We launched and started running after the ball. We had to grow, and this was our guidance, 150,000 cars, 140 and whatever. We hit 95,000, 88% of growth in relation to the day we launched this goal. This means that from now on, we have options to grow less. Grow 1/4 already what we grew, and so we grew 88. Now we have to grow 22, 50,000 cars a year. Now we have to grow 50,000 cars, and we will deliver the guidance. Without saying that the change, the transformation of the price of the car changed the size of the assets, the base assets. When we looked at the past and we saw established guidance, 260,000, the value of the car is not the same today. To get to the guidance is much more than we had programmed of less than two and a half years ago. Just to remember the guidance, we have the opportunity now, as Renato said and other directors mentioned, to focus on operational efficiency and gain profitability and take away the pressure of growth which happened in the last two years. This is a message that appears for many of you when every time we make a meeting, follow on, follow on. We're gonna need follow on because it's already 3x of growth of EBITDA. We doubled in terms of the assets because this was a change of a mixture that we don't have. When we grow 50,000 cars a year, having EBITDA stable, now the challenge is 15,000 cars, 7%, but this is one-third. In the relative it was 40%, now it's 7%, one-tenth of the growth. Look, it is more selective. We don't have to accelerate, as we said, 1,000 cars per month, 1,000 a month. Now it is different. I could grow selectively and the prices will raise. We'll get to what we want. That's we have to have. We have to do stable, go stable, leveraging. There's a lot of work, a lot of execution. It's complex, but it's more comfortable from now on. It's different than what it was to get here. Additionally, just to remind you, the public is of equity public. We invested a lot in the credit market, and this market showed available and open to the company. Just bringing you some numbers to remind you how we were able and what we did. Here in 2020, this is when it starts the pandemic. We got BRL 1,800 for liquidity, and we started to grow. When you see the last two years, the cumulated is BRL 14 million. In the year 2020, we overcame BRL 15 million of capturing. We have support when we speak about credit, not only in volume, which is very important because we transformed the EBITDA into fleet, but also in instruments of market. If the international market is in for the first time, and also the individual market, and also the agencies in development, and also with BRL 5 billion in cash flow, with a deadline of superior six years and less growth, as you can see, not of cars, car by car, but as CapEx, changing the baseline in short period of time, we are going to change the capture of... This takes away a point where people also question us, "What about the cash flow of the company and the need of capturing?" This changed. We did what had to be done. Now this was a mountain. We already went up the mountain. Now we're on the way down. That's it. We went all the way up, and now we're going down. The movement, I am 4,000 feet, so there's no oxygen. The difficult phase where we had the problem is in the history of the company. If you take all these figures, these numbers, and project that the EBITDA is gonna grow and our generation of cash flow and growth is going to double or tripify, you will see that the necessity of capturing is what was in the past, a fraction of the past. I'm speaking about a number, 25%, something like that, if it's that number. Once again, this tranquility of numbers with substances for you to have clarity that our strategy has the beginning, middle and end. This strategy, what's important to say, we speak in a while and we are leader in operational margin in terms of revenue per car. Now we have a point that is we are in terms of capital. Our decision to grow and take advantage of the market, bring new clients and create a better company, this generated a stress that even with the best balances, it sort of delayed the capital costs. Now we are have more options in terms of capturing and more discretionality in this, in terms of the management of debts. This permits us, of course, the scenario is different from two years ago, but we can reduce the capital cost and close the gap for us to be in terms of generation of value, which is our commitment. Said this, now we have the part of innovation and sustainability. Just to go through these values that are Movida. When we see Movida, and reminding you of everything that we do, we use the collaborative system since 2017. This is a lot of interface with startups that bring improvement in process. We changed our approach two and a half years ago. Instead of investing in startups, which is not our business, but to use what's in new and bring it in the company to gain operationality and efficiency. We have invested a lot in digitalization. I'm not gonna repeat this. We believe and we create the M of Movida in the mobile commerce and all, digitalizing all our processes to have a store that is completely digital. We are the streaming of cars. It's not a Netflix that only has subscriptions. You could buy the film, you could pay 1 per month. We're sort of like a streaming company, very flexible, lots of content. This is Movida with all the service for our clients, and each client has its service. This is great, and this is something important. There's a lot in terms of innovation, in terms of sustainability, and we reinforce this. This comes before we arrived here. It's in the DNA of the company. That's why we are recognized. There are various indexes, certifications, and commitments that make us different, and this is very important. It has given us a lot of exposition. Also in the part of recognition, we are in the right ways. I have to highlight the growth of the brand. Movida was valued in 2022. This is of the any brand in Brazil, not only of the industry. It is in terms of value of the brand in the Brazil. It's not a reward from a magazine. It's a recognition from the consumer that there is a differential. That's why we were able to transform the price, and our services are recognized. Not we double the price, but we double the volume. This is different than just only charging the price. This gives us comfort. If we have a market, we are gonna have a just price for our business. Now this is an optional in terms of growth because we are recognized various ways and highlight of MIT as we are one of the best places and innovative to work. Many recognitions that we didn't bring here. Obviously, I joke and I say I am suspicious we have Apimec prize. You're gonna vote again. I am consider that we have the best IR staff. Many of you, we have our eyes, marketing, all of you, worked so much to be able to be here. You know, this is so important. Very good. Let's say, from the presentation is to give the highlight to Renato, which is an inspirational leader and that has gained award of a best executive of the year. It's award, not mine, it's of the staff award. People that vote for me don't know me, saw me once or another. They are looking at Movida. It's the value of the brand. That's why we got the award. you know, you get prize of executive and CEO. This is a work of a team, and it's more important for you to know this. If we opening so many stores a week and doing so much, everyone takes care of each thing, and we're all working together because the last highlight is Renato. I have to tell him this highlight of Renato that has brought to the company and inspired us every day to do what we did, and he does. We speak of him, he always sort of says, "No, it's not me." Like Fernando says, "Success is the first step of weakness, of failure." We have many things to go through. Let's do it. Let's wanna speak of the highlights, which are the main messages that I wanna leave you. To have a summary that we presented here, these are the 7 highlights that are here on the screen. In term the positioning. We are not doing the same things the our competitors did. New solutions, we are growing and bringing new clients and allowing the company to deliver the result. I'm going to highlight the fundamentals of the market. Our market has a lot to grow, we should grow 23% a year. This market, we have a space to 30%. This will not happen, not only because due to us. Our prices are going to be fair, and we will have the return. If this is what to see, and this is the sustainable growth. I already mentioned the structure. You know, that we attained is very important. I am repeating everything so that you will keep and not forget everything that was said today. The proposition of values recognized by the client. We grow a lot our level. We grew 77% in the corporate team. If I would charge more than the other ones, I wouldn't have this charge because you deliver values, and you charge the fair price. Our team doing well, and that's why they choose Movida. When we changed the scenario during the crisis, we were different than our competitors. This is our greatest differentials. When the market started to think about selling cars, we already were doing this, and when they started, they wanted to buy, we already had bought everything. The end shows that we were right. We were talking about solid balance with high liquidity and a strong operational evolution. This is a very good scenario. Also maintaining our guidance that were made in a completely different moment. Even with this, even with these figures, we raised 25. This is our main guidance for 2025 will be maintained. Now I am open now to our Q&A session. Edmar, would you like to join us again? Thank you so much for being here today. You know. Okay, we already have one question here. Do we have microphones in our audience? Yes. Lots of microphones. Lot of questions. Good morning. Thank you very much. My name is Pedro Bruno from XP. I would like to talk and discuss the evolution of tariffs that you're since BRL 150. Also the rates and the cash flow, the CapEx. If you buy a cheaper car and selling more expensive, you reduce the need of cash. I would like you to talk about the rates here in this context, because I think but raising the average rates with buying cheaper cars. What are you waiting? Are you waiting a higher evolution, more than 150 in tariffs? But this raise and rates, I'm sorry, it's really rates in the sense of being fair, as you mentioned before, and in this context. We have two effect. If you look price by price, we have a raise in percentual. The value that you see is smaller because you have this mix of plans. This mix of that is more eventual than monthly. The eventual is always going to be the double. It's going to be more than 3x, but it's least more than the minimal monthly ticket. This affects mix. If you see only on the back side, all prices are going to raise 20%, 20%, 25%. Obviously in December, January of course, we have end of the year. For the next year, price by price is going to be more expensive. You have the effects of the mix of fees, but you have the effect of eventual versus monthly that compensates the effect mix. The mix is going to be with the tendency of prices, is going to be raising the price with the trend of the minimum average price in all lights. The hack, the dynamic tariffs, because our other business also so important. We are renewing almost 80% of our contract with the tickets with BRL 2,300, BRL 2,500. That used to be BRL 1,600. As you change, they grow also. You have to change the whole base to see a higher ticket, only to complement the hacker of the macro on the choices of the segment. I would rather have less exposure to Uber and more to the eventual, and that would help us in the medium tariffs. Jamyl brought us a very important figure that is transforming. That is that dynamic rate for the legal person. We have more than 80% that adhering to this tariffs, meaning that if you have a corporate dealer, during Carnival, you will not get the 250 BRL car, you will get a discount. When you look at we are going to choose where we want to be present and what do we do, I am clearly give the idea, the perception that we are going to grow our tariffs. I would really feel very comfortable because the cabbalistic, 100% from last year, 150% from this year, worked very well inside and outside. These were figures that we already dealt. What are the figures that we need to look to look for at the end of the line? It's this or the other one. Let's see. We are dealing very well. We are achieving all these figures due to our fleet and our infrastructure and our technology, the level of service that we can deliver. I have no doubt that we will continue growing. Hello, my is Alberto Valerio from UBS. Thank you very much for receiving. You sent us a couple of information, valuable information and for our analyst, you mentioned about the pricing that will not drop for next year. I would like to deepen a little bit this issue. Next year, we'll have the L7. The L6 motors are leaving no more the market, the popular markets will no longer be manufactured. What can you expect of the fleet and these are these 80% sustainable that you mentioned for next year and with the negotiations that you are doing with the manufacturers? Yes. We have more availability. We will be able to buy a very good mix, very well aligned. We don't have no closed deals yet, but we are discussing already. We have a lot of discussion, but with adequate mix. Mix will not be the problem. Inflation, yes. The assembly, you know, assemblers are saying 7% for 2023%. We are not talking about model by model because the average price will a little bit more, a little bit higher. If you put Gol and Voyage and you substitute for Polo, this will be a slight different. Each different, each industry has a different strategy in what concern mix. When we look ahead to 2025, something different because the regulatory demands will be even higher. This is going what makes us more competitive. With this was no make the change of a fleet. This is a trend that structurally, I believe that the industry will become less basic with the macro scenario, less pandemics and interest and the credit. The industry has to look inside and to see exactly what we need and to produce cheaper cars. For the first time in the second semester, we have more direct sales. When we look at next year's everybody believes the direct sales will be more relevant. We have assemblers that think that 60% of the sales in direct sales for the whole market because they foresee growth in the market, but they also see us growing more. They think that this offer is going to become viable, because I'm not going to grow because interest grade rates are high. Everything it is possible as long as so we do have options because if we are only going to grow, if everything makes sense to us. Renato? Guilherme Mendes from JPMorgan. Two that I would like to what about the zero km and growth that are the indicators of the fleet today in size and more the challenges as you mentioned to 2019 and compared to the last two years. There's a lot of potential. What for you did not work and what do you think is going to work in the nearby future? Your first question and on the amount of cars we will not be able to answer. This is legitimate. Okay. As a general comment, Renato is going to comment that zero kilometer cars is a credit product. It needs to have a very aligned credit. We learned a lot through this journey. For us, could we grow more? Yes. You open the papers and you see the banks are releasing less credit and manufacturers also. In the point of view of the structure of the product, we have a target public very interested. This is typically A and B public with a good line of credit. What we can see the renovation happening, very positive data, very preliminary. Operationally, other cars do not work well, and this is going to add value. This is, and the point of view, this is not a very good figure, but until now all the indicators are very good. When we talk about demand to the potential, we are doing sales according to our plan. We have space to sell more, but we choose to be more conservative and we choose because if you buy the car and then you sell, we can do 100,000 cars. We choose to be conservative in the credit to have any kind of devolution then. We also in the point of view of capital, of assets in order to buy before. We have the aim to be excellent. To see all the complaint, our zero kilometers cars, we offer completely different cars from the other companies. Because we don't want to frustrate the client and, you know, and keep repairing cars. This business allow us to grow gradually, more in a more sustainable way, generating value, preparing the company. We still have chunks of the processes that are not digital, that depends on human. We have an army, that has doubts that digitalize all this process so that our journey will become scalable in the point of view of operation and to grow more. We have a huge market. We have more million cars in the retail. Yes. A great part of the cash counters could be to migrate because the financial count in the end, we have to see, they will see our account to see if it's more to. It's better to rent. Many people don't know this kind of business. This market is growing a lot, which is very good because we are growing in such a way that one of it will not be supportable. This is going to create awareness, more demand. With this, we can later on consolidating this market. You know, that even though we started earlier, because the credit risk is more controlled. The problem is when you have a higher scale of 100, 200, 300 companies, cars acting. What about strategy outside of Brazil? Of course, it's small today, but you have a metric to have a specific size out abroad. It isn't in terms of opportunist. It is part of our strategy. We would like to have 25% in strong currency, and this is long range. We don't have a pressure to do this quickly. Yes, we consider alternatives. We evaluate the investment of every additional car and in each business. When you consider Portugal, yes, the market permits to grow and cost of capital that is lower and also generation of value, a spread in terms of capital, more than here. While this is, it'll grow a little. It'll be transformer? No. Other countries, it depends. We will go slowly where the opportunities appear, and it makes sense. This has no impact here because the person there and the team there will be able to manage this without compromising anything in Brazil. Our plan is Brazil, but we have this plan. Because this is an optional, we will value-validate each growth. What this means. Then let me just to reinforce. One is to understand and to attend the client, focus on the client, and then this is so important, and to have guarantee that the service in Portugal is exactly how we want it to be. The important is to do it correctly, right, conquer the market with service, and it is differential. This will happen naturally. Okay, all. I am Gabrielle from BBVA. From my side, the first, Renato commented briefly about provocations of the assemblers to do buyback program. We saw this program abroad with the resale guaranteed, so semi-new. This is with the risk is with the assembler, not with the location. If you can please explain this. The second point, a follow-up about internationalization. How do you see the assembler as a global client or regional? Is it possible that you could do this outside and negotiate or with the ability that you have here or do you compete with the plans? What is this opportunity that you have? First questions. About buyback. Why don't we have it here? Because of capital. Here, it's different. The resale, it depends on the concessionary. Outside, the assemblers have their own network, so they control this. So they could do this very naturally, the provocation that is coming from abroad. They also wanna find an alternative to the big discounts that will be necessary for the volumes. There is a growth in terms of brands. Some are more aggressive than the others, and this makes sense for other alternatives. Now, there's the discussion globally to have some support from abroad to find, to make feasible a buyback that makes sense for us and them. Still nothing concrete, but this is an ongoing discussion. We have to do this together, but the entities are independent. Something is Latin America with the assemblers and different than the United States and Europe, which is done differently. What exists, who are you talking to? Can you imagine Drive? You're gonna speak like they speak with the president of assembler. If you have a president assembler, I'm gonna open the door. Let me present you to these people. I put these two guys together. An introduction and life will follow. You take a look. You're gonna buy 20 cars a month. We're gonna make agreement, 250 cars a month. Different here, which is volume. They also wanna gain market. It's more aggressive. You go into the strategy of the company. Many times in the assemblers, Portugal is it, a work, it's a work, it's a channel. This access to the matrix of the assembler, it is helping, it helps the production, it helps the offers. It will give us a differential in Portugal, not like the scale here. It's different, but it'll be the way that it does and could work in Portugal. For instance, the quality of the credit. Can you imagine the challenge of growing alone. Now the chance of growing in terms of the balance with Movida. It also helps in the general outlook. Good morning. I'm Renato from Credit Suisse. Congratulations for all the directory and the results. I would like to speak about the change of mix, and also I would like to see the numbers of cars to the basis of capital invested. I know the change of mix is favorable in terms of liquidity, fixed rates. If I would have a gap in a car that was bought cheaper than a sold car, I'm reducing the allocated capital, and I could relocate in terms of cars. Your discussion, what I understand, it's not the moment to allocate additional capital. I would like to understand if this is a preoccupation in facing the cost of capital, because we're in an environment of high interest rates. How, what about the discounts? I would like you to speak of this dynamics and the goals of these effects of mix. If you expect 2023 that this gap be as the sold that is more expensive, and what is the effect of the average rate of RAC? Let me answer some issues. All our conversations, all our conversations among us, the ROIC is always 100% present. We look at everything, but we have to deliver ROIC. This is the first point. The second, what you spoke about the mix of fleet. In our view, once that we see space to growth of tariffs, of rate, in a base of less capital, this will bring ROIC. Because, being newer in terms of service, presence, and everything that we spoke about price and client. In our view, that is going to happen, and it starts to happen in the middle of 2022. We are going to be able to deal with this rate, continue to push the tariff, and at the same time deal our base of capital less in terms of less growth of before. It's where we are going, because once again, 100% of our conversation in financial issues, we speak about ROIC and end speaking about ROIC. This effect is of the RAC. This is the... We increase the revenue and, increasing revenue, exchanging old cars for new cars. This is higher cars, very predictable. It makes us selective. We're not going to enter into a big bid because to do madness and to buy in scale, we don't have to do this today. You saw the strategy that we did in digitalization, bringing many clients, and the return is higher. Yes, there's investment of capital. There's no restriction in investment. It's an option. Our condition today is comfortable. It is not restrictive, so we have options of growth. If we get to the opportunity with ROIC, with spread and the cost of capital without... People thinks it's going to go down. This is what people are seeing. If you have return and we can price, why not grow? There are not problems with the growth. We believe that this growth will be less because of passing on of the price and also focused and concentrated in the long-term business, like the growth of RAC. This reduces investment of capital. Thank you. Renato, good morning all. My question is in relation about the discount with the assemblers, how do you in fact are seeing the scenario comparing with pre-pandemic and also your main competitor? It was very your message was very great in terms of growing less. No one would imagine that this would put into risk your. Look, in terms relative. Could you please explain? Great. In the short period, this is helping us. You know, Fifi, this automotive industry doesn't have the flexibility to adjust quickly. It has a production plan, it has to deal with it. When I decide I'm not gonna grow because I can have this possibility, I have an offer of 250 cars, and say I wanna buy 80. 170 cars flying around. You can't fly. There's a dispute. What about my volume? What about the deadline? There is a negotiation. This does. The scale is what's important. Our scale today is what we can do with good nose negotiation. We have people that have to guarantee their volume, and we don't have to do this today. I am able to be calm and disciplined. Of course, in another case, scales is important. That's why we are always taking care. That's why we built this strategy in the last two years, because we saw what was different with 100,000 cars. With 200 cars, it's even more different. Today, I can even buy from all the assemblers that want to buy, that wants to sell us. The negotiation is on our side because we're. During the pandemic, things were different. We have a larger price, but we're still evolving, and we are getting close to the competitors. In some of the assemblies, we have more discounts, the other ones, now that, you know, life goes on. Renato. Could you tell us about the difference? I don't know exactly what the difference. I'm saying today that I want the same discount in the same term. Today, we already made some spot purchases. There were different models that we used to buy during the pandemics that we were able to buy. Others, we are not going to buy. We will not be able. I can't tell you exactly which of these models. I think that it's going to become a little bit worse in what concerns. Because we are going to end the year with a higher stock, and they have higher stocks, and we will be able to deal better. We reinforced the purchase of cars. We have Ricardo on our team now, and we have 200 years of assemblers working here together. And he and they are going to help us also. Not discount only for the discount, but only the timing of the purchase. I want to stress the optionality, the options are on our side now. Thank you very much, Movida, for the event. We understand that the dynamics of to buy and sell, the dynamic is good for cash. If we could explore the dynamics for the result of the Seminovos for the next trimester. As far as I understand, we had the dynamics in the last semester where the smaller discount and a more premium mix would be compensated by the raise. Also, we have more two or three trimesters in EBITDA in this mix. As time goes by, the prices of the new cars do not help this much. I would like to understand if that in the next two trimesters, will we have more pressure due to EBITDA? How does Movida or the raise in terrace, Paris in the rates. Because the market is very concerned with this new macro, how are the due dates for debts and pricing? Let me start with the second question because this is very, very important topic. In our presentations, we have roughly same. We have BRL 1.3 billion of debt. We are talking about BRL two and a half billion for a company that has in the EBITDA of almost BRL 4 billion. What is the% of EBITDA that I have to renew? It's only a fraction of EBITDA. We are talking maybe 30%. On the long run, as I mentioned, of BRL 5 billion in cash and BRL 1 billion on accounts receivable, and all the operations that we learn in the group and all the attempts of the financing attempts, we have BRL 15 billion in three years to refinance BRL one and a half billion. Thank you for your question because I have all the figures here in my head. It's good for you to know the liquidity, the amount, and the risk of refinancing and see that to the figures, this is very small. Even in a harsh scenario, we are able, we have the possibility, I would say, we are very comfortable compared to the average of the market. That when we are prepared for that. When we were questioned when we started to renegotiate our debt, we wanted to enlarge our profile, this is the proof. We have BRL 1.2 billion of higher EBITDA, we have BRL 55 billion in cash. As for your first question and the margin for semi-new. It is not that I have more pressured trimester. We are reaching normality. I don't think we're gonna reach 2 digits EBITDA for Seminovos. We are going to work with 1 digit in the middle of the way, maybe 1 lower digit. This is the normal for Seminovos cars. What you're saying is the contrary that all car we have of had cars that have a very good positive image, so they push our result. The FGTS cars that even cars that are depreciated still are very much above their real price. We have many cars to be renewable. The rhythm of to renew our fleet, this is going to determine the result. The normal is going to reach one digit in the EBITDA and a relative contribution in semi-new. We sell more new cars, so the index, nominal index is smaller. If you have to look at nominally and you look at it, one year ago, it B2B 250%. It's a little bit what's going to go on happening because we are raising the volume and raising the medium value and expense, as we said two years ago. No, we are not going to reach. You know, we are going to reach probably, we already have 6% or the three months at 5%. The average ticket will be more or less 4%. If you look at pre-pandemic, this would be six points. This is very relevant. Depreciation is going to grow. You see how much you lost in discount and so on. These will be the conditions for purchases in 2023. You'll have different kinds of depreciations according to discounts. If you have no models, the only benefit will not come from discount, it's going to come from the mix that even with average discount a little bit lower, the mix will make that the margin, the sales will become will increase, will be better than our competitors. What we have to do is to do the correct buying to buy the right cars in order to buy, to have a good. Only as a follow-up, what are your expectations of the RACs of BRL 8,000 for the 2,000, 3,000 semesters? What would be the normal levels in the purchase? I think what we are doing today, we discuss a lot, we see sales projects and so on. We do not control the Seminovos. If the macro scenario falls and the person, you know, if they sell the car because they all need money, this affects depreciation. We do not have to do this according to the structure. The market maybe could be affected, the Seminovos cars. Our vision is what is in the balance sheet that you can see. It can grow worse or better or, you know. What will this do? You know, it will change the price. Our strategy of pre-price also represents a risk. If this is not raising too much, I don't know if this is going to grow, but you have to precify that, especially in long-term agreements. You change the price and constantly you grow growth. That's why is this our best moment. These options allow us to be safe and to have the right price. In order to grow with the right price, we will grow and there is no problem. We understand the priority is to guarantee that we are being conservative and precifying everything. José, you're complementing is that in the last one and a year and a half, when the market changed, we are looking at the rental prices because this is our influence relies. If this we have more in the market, the rental, the record rental, we can influence and we can do much more. It is important that we continue this movement in order to see how in the long term this will work. We think that structurally, rentals will have a more important role in the structure and the result of the company in the long term. Thank you. One or two questions more. Just to squeeze out. Just to conclude the selectivity of growth. The selectivity of growth that we saw on the RAC, is it worth for the consolidated if it's gonna privilege the fleet so we can pass on the price? The second is using your when you set the long-range goals. In fleet, you already went through the peak of the mountain, now you're going down. That goal of 1.3, 1.6 is a little profit because what part of the mountain are you on? Lucas, it is maintained. We have all the numbers of the guidance and the price that we put is that we will continue. There'll be an important evolution in the, in the margins. When we see the pricing in long term of the interest rates, it doesn't we don't do different than others. We will base on that and 2 digits now, but this is what we see. Once again, what we see is that with the scale that we have and all the efficiency that we have to capture, we will be able to deliver this. We were discussing this yesterday. When we did the IPO in 2007, the sector didn't go to 40% EBITDA. 2018, maybe 40% would be, would be proxy. Everyone is operating with 50%. There's 10, 15 points of rentals in the last years. Why won't we continue gaining? Still, we have more efficiency to gain. For instance, Lucas spoke about the turnover of the fleet pricing. Jamyl has the homework to fight with the agencies in terms of commission. This wasn't done. This is an industry that is beginning how it is paying its intermediate people. We have a lot of work to do. We're only in the beginning, so we say we're gonna have a profitability in terms of rentals. This is our line. Look at our scale. We just doubled, but there's still, we have many things to do there. In the volumes. Everything that you change in terms of the models, you gain efficiency, and you diminish the costs. If you compare 2019 with 2022 and divide with the revenue, you will see the efficiency. We have the gain of the 20 points of the margin in terms of rentals, and still, it wasn't captured in terms of the growth of last year. Everything that we are doing in terms of a structure that is more centralized, these gains of operational efficiency will bring an incredible gain in terms of the interest rate, the time of maintenance to demobilize and sell. There is money that is a lot. We have things that are comforting that we can say that are very well-organized. This is better than what we had a while ago. We have a clear plan to get where we wanna get. Jorge, for instance, he set up Sascar, but he started with 100,000 cars. We already have 100% of the cars already screened. We don't speak about this. The assistance, 24 hours, which is something national. It was done in the last trimester. Jorge is already responsible for 200,000 cars and trucks. This is being done for the whole group. The scale is done. We are gonna capture this. There's a lot of money, and you know, if he was making 10%, can you imagine? Victor from Bradesco, this is in relation of this SAT, which I would like to ask. You are seeing more options in terms of revenue or of maintenance, of depreciation. In looking ahead, how can this contribute to the ROIC? The upside for us comes from the level of service. It goes to the experience of the client in 24 hours. We just implement. Can you imagine the disruption? We gain 10 points without the process. How it is iNPS isn't good. In terms of market, when you look... we have a gain in service, the proposal of our value, so it makes us have different prices from the competitors. In terms of screening is to recuperate bigger cars. The industry is losing cars. They steal a lot of cars. I'm speaking of we recuperate our cars because we have a structure to recuperate the stolen cars, because this is a problem in Brazil. There is a big space of return 'cause the loss is 10%, and so this is in the bottom line. This is a commitment to recuperate the cars also. Then you have extra revenue. It brings a contribution to the ROIC for service, but it isn't where is our focus. Our focus is to deliver more service to the client. Like this, there is a difference. There are companies, big companies, that we don't have the whole fleet, that we don't have the whole fleet. What we want is to put our system in the whole fleet and for you to gain and price this correctly. Only you know this. If who loses money or The risk. That's why everyone, when you have a bigger basis, you can do this because you have information. Working with our clients, this is what we wanna do in terms of value. Hello? Last one. Sorry, 'cause we have an agenda. Sorry. Thank you for the question. I am from Filipe Nielsen from Citi. My colleagues asked various times, there's one question more in relation to the allocation of capital in terms of the scenario that you talked about in all the operational areas and cash flow, also in a commentary in the beginning, there exists a dysfunction in the market today. How do you see this? How do you see the companies looking at the prices of the stocks? Are you gonna buy them or what are you gonna do? Are there a kind of view about the policy of dividends in terms of the payment? First question, 10th store. Go over there to our 10th floor. I'm joking. Sorry. Our portfolio investments and the location, we're gonna see where is the more return. Like other companies in our group, the decision is upstairs. We have maintained programs of buying stocks. We rebuy to the grant for the executives as part of our payment. The policy of dividends should no big change of what we have practiced in the last years. Between 50% and 38% is what we are seeing during the year. Now, once again, being repetitive as I am, a dynamic of cash different make it easier for our payout here. Last question. My two questions. First, about Uber. You spoke. It's a big market. Do you think ROIC is less, or is it an issue of availability of cars, and maybe next year they'll have more cars available in a better price and condition, and this could be an avenue of growth? This is the question. About Seminovos, can you speak about the dynamic of next year's in terms of wholesale and resale and the opening of stores, retail, and if there's some kind of variation to increase this number? First, Uber is a big market. Of course, we always spoke that Uber is a buffer of growth. Our positioning of Seminovos is to have the newest car in Brazil. This is the only semi-new. This is a great value. That's why 'cause it goes to the wholesale. In terms, we have a product, and to have the best product for the client. I charge more because my strategy is not to grow in this market, but we have to be prepared when we want to grow. We do pilots, we have cars of second cycles, and this can make sense according to the scenario of the market. Now, if I sell in the volume I wanna sell, it's cool today. This is a market can give me alternatives. If we grow a lot and there are pressure in the Seminovos, we can make it longer and get 1.3 million cars to 5 million cars. Yes, it can be an alternative. We are prepared. We're doing pilots and discussing products, it is a business as an alternative for us. The ROIC that we have with the price we have is very good. It doesn't give growth, we have to diminish because of the price of the competitor. This we are seeing in short period doesn't make sense. With this is a business with not much fidelity. I prefer when I see it's going to generate more value for us. Just complementing, think that Uber, for us, for the app, is an alternative. It's not central in our strategy. During the years, everything that happened from rack of exhibition of 10% to a number of 5%, we can make this occur. We could do this, it's not central in our strategies. This is very important for you to understand. I don't depend on Uber to do everything we do. About Seminovos, we know it is important to have this is also important for the retail. If I don't wanna sell 'cause I have too much rack, I can also deal with my fixed cost. Also because of the profile of the people, it's good, I can guarantee good quality cars in the semi-new cars. I do everything that we do for value. For this, we will open a few stores and continue growing of cars in these stores. We say 50%, then we can calculate this. More than 3,000 cars anyways, this will grow. It should be more, of course, but it is growing. Remembering, Lucas, that during. The slide shows this in the last two years, what happened was a big growth in fleet, and this we are including CS. Naturally, we have a pressure to sell in the wholesale. Maintain 50%, we are growing. This is the mix that we have today. Our retail is very good. It has given a lot of lead, much clients. This is a business that is helping us to have a turnover with our cars. I used to joke and we were in 1%. If we doubled it, we have to do. We are very happily, and we are very happy with the performance. Having an executive that is dedicated to each part of the business. Thank you very much. I don't wanna pressure at you all, but it's time to stop. I see everyone is super happy here. Thank you for the audience, full of people. I was very surprised everyone is here. We're so used to home office and online, and here we have everyone here, and we are very proud of this. To thank you all for being here, the partnership, and you guys are always with us. This is the sixth year of IPO, and so we do this. This is the book of 50 years of Ibmec. This is the association of the professionals of the market, and this is, it had 50 years, and there are some important information. I see a great group of people that are with Ibmec here, I wanna thank you all, the partnership. The commitment of you with equity of the information and transparency and bring the public here, everyone at the same time. Congratulation. Thank you for the partnership. This is the 6th consecutive year. Congratulation for your work. Thank you very much. Thank you all for your presence and for the wonderful day here. Thanks. Ibmec is important for the transparency, we were speaking with some investors, you were speaking. We came in the market when we did IPO. It was not a sector, it was a company. The amount of data that we give you so you can model it, transparency that we deal with everything, makes it easier and it makes it more feasible for each one to do its modeling and understand the strategies and where to bet on and what is happening with the market. Our goal is to always give information so you feel the same comfort and security that we have in our business plan. Thank you all for your presence, and we're happy that everything we did together, but happier that we are going to do even better. Thank you all very much for your trust. Let's go. Let's face it. Let's do it. Thank you all very much.