Well, I would like to welcome you to our teleconference of the second quarter. Thank you for enrolling. The call will be conducted by me and Kleber. Kleber is online. He's coming back from an important trade show for the sector. To give you an overview of the market, I would like to invite him to the floor. Hello, K leber. Good morning. Good morning, Marcelo. Can you hear me well? Yeah. Okay. Good morning. As Marcelo said, I am here in Castro, in the Paraná state. We participated in the Agroleite, one of the largest trade shows regarding dairy products, milk, especially. We had our team together here with us. It was a really important event. This is a long journey back to São Paulo, so I am here. Also we had SIAVS this weekend. The second semester is full of events. We were at SIAVS, also a big symposium in São Paulo. We had a dedicated team over there. We have Pet South next week for pet companion animals in São Paulo. After, we have Expointer, also another big event. We are dividing or splitting ourselves to be able to attend all these events. Now I bring our results for the second semester. We've closed the first half of the year. We had expressive growth, and we reached some landmarks in our strategic planning, in our people, and I would like to begin by our brand. Well, we've commented before that we had a very strong work to bring our brand to more people. We've developed this slogan, the Well Cared For. Well, we're cultivating the brand in the second quarter. We began with some campaigns. In Agroleite, we have done some activations. We did it also in some airports campaigns, something that we have never done before, and we are doing it now with these institutional campaigns that are present in all the events in our daily lives. I am very happy because it really represents our essence, what we really are, and people recognize it. This is the slogan, Well Cared For. You are going to hear a lot about it. We are evolving. We are going to have other activations along the year, campaigns in social media. We've done our homework. We are working well with our brands, spreading it everywhere, telling everybody about what we are and the care that we have for our teams. Also we have some important recognitions in the second semester. I think I have commented already about the award, Finep for innovation. We are very happy with it. It was an important landmark to really win this Finep award is not something trivial. Finep did this, I think 10 years ago for the last time. We had won this prize once. Again, now we were recognized, and this has everything to do with the moment that we are living. We have been supported by Finep always. This award shows how our innovation and R&D is really working well, developing important and innovative products. Also we were recognized recently, I think three days ago, with the award called Valor Inovação Brasil by the Época magazine. We were second place for the agribusiness rank, and this confirms our good moment, our innovative moment. We are being awarded. Innovation at Ouro Fino is granting the results, the impacts, and it's being recognized by external agents, what makes us really proud. Also, as you know, every year we submit our company to the Great Place To Work survey. Our rank is very good, always good grades. We have done our certification again. It is a continuous, ongoing evolution. We are very well-positioned, and based on last year, we had an award also from the report of the GPTW, we are among the top 20 companies in Brazil. Very good positions in this category from 1,000 to 9,999 employees. If we care well for our employees, we care well for our business. It is a reflection. It is not only a good result, it is a result that results from the actions that we take in our daily routine. Well, today, I am not going to talk about the strategic planning so much, but we are advancing. We intend to go into the South Cone. We have plans established for Argentina, Uruguay, Paraguay. Actions are already being taken. We are creating some legal entities, working with the regulatory board. Soon we are going to bring you some novelties. We are going ahead with this strategic planning. The first half was very positive. When we look at the market, we see the opportunities. The cattle market went well. For swine, there was a retraction in the protein price that was strong, resulting from the increase in the production after a very positive cycle. This put some pressure into the producer. In our products, we did not feel a direct impact. The market, well, it is paying attention, okay? Taking care of the margin. The pet companion animals market was a little bit retracted since the end of 2025. The market dropped a little bit. Also we had a little bit stronger drop in the first half. In the second, I believe that is not going to be so different. Regardless of these situations, positive for cattle and attentive for swine, poultry is going well. In the second semester, we see a good potential. We are paying attention to the question of China. We are looking at it. Also, we are paying attention to the Super El Niño that can be critical for the south region of the country after the harvest of the crops. We are mapping everything and looking at the potentialities and the risks. I believe in our strong portfolio, the launching that have been giving us good performances. We close the first half with a growth in the revenues above 30%. Marcelo is going to explain the details because as you know, I am in transit here. These are very good results for a market that is growing small. These results are a reflection also from 2025, and we continue on the same pace. A long time, maybe we are going to reach normality again. We have the products, and we understand that we still have a lot to explore with our portfolio that has given us a very good performance. We had a growth that is linked to the improvement in the profitability indicators with a strong cash generation. Also, in the second quarter, profit was impacted by a decision that we made. We suspended our project of pet vaccines that had a high value because we have a very good performance in the swine vaccine, so the plant is occupied by it. We understood that with the size of the market, the size of the market was smaller, we have decided to suspend this project, and this impacted the results. Okay. Here is not adjusted. The profit is still growing after the absorption of the impact. This was a national decision for the better usage of our cattle. We understood that it was the best path to take. These vaccines for pets, they take longer for production. Looking at the potentials of the markets, we understood that priority should be given to the vaccines for swine. If it was not this decision, the results would be the best in the history of Ouro Fino. We are happy with the sustainability of those results. Now I give the floor back to Marcelo. Marcelo. With you. Thank you, Kleber. Continuing here with the financial results. Inside the context that Marcelo has already explained. Also, we would like to highlight that Ouro Fino grew more than the market in the semester. Even compared to the global leaders, with a relevant market share gain, even for pets, for companion animals, that is a more pressured market because of the several factors that impacted it. We grew more than the global players, even in the hardest segments. Even in this more competitive environment, pet grew, cash generation was sound with a reduction in leverage. These impacts, they are not recurrent, they were registered in the quarter without impacting the cash of the company. Investments were already done. The R&D investments, they are long-term ones. We make decisions looking five, six years ahead. Some other things happened during this period of time, and the company have to make some adjustments. Even so, we do not have any impact, and this does not change our journey. Our growth is supported by our innovation, our growth, and the strengthening of our portfolio. Now here you have in this table the results. You see 30% of growth in net revenue, and accumulated 31%. This is a comparison of the products that are comprised in this revenue. These products, they have been only recently introduced in the market, they have potential to still grow even more, okay. We can grow, expand margin. EBITDA in this first half was 54%. This is a result of 1.2 bps, and also in the margins and a reduction in the expenses. Commercial expenses were diluted and admin expenses, they were according inflation. The company is growing and the performance is being kept without having to increase the headcount. Gross margin also grew a lot. Net income grew a lot. The forecast with no impact for the cash because investments were already done. It was not adjusted. If you adjust it, you will see that the profit is relevant. Adjusted net income expanded 41.7 with an increase in the gross margin and the EBITDA margin. Now I have a graphic showing the results. Net revenue consolidated grew 30.7. Profit, even with the impact in the second quarter, is still above, accumulated. We see this continuous growing. We left 48.2 in 2024 to 49.4. Even absorbing some losses in stock that we reported in our releases. This is not common in this regulated segment, okay. That we have to do provisions for losses of stock. This did not bring losses. It did not compromise the growth of the company in the first half of the year. In production animals, here we have cattle, dairy cattle. You see a relevant growth. Accumulated we have, in the semester, 33.1% in net revenue. We gained market share, we expanded our gross margin, and we are now in 45%. We have almost 44% in 2025, and now we close the first half in 45.2%. It's a growth in revenue, but also in the margins with the efficient usage of our resources. Companion animals, very relevant growth, 44.8% growth in the semester. Remember, I talked about this more competitive and challenging scenario. We have the impact of the launching of the products, also we have to keep the sell-out. A lot of efforts. We are one of the companies that have the most complete portfolio in this segment, we can explore alternatives in all segments. Revenue growth is followed up by the margins growth. We have there 70.2% of gross profit. This shows the return on the projects in which we are investing with the expansion of the portfolio innovation. The return is really relevant and this justifies our agenda of innovation R&D. Regarding international operations, consolidating Mexico, Colombia operations, we've had this relevant growth of 30% accumulated in six months, almost 18% of growth. A little bit of a drop of margins compared to last quarter, it's aligned. Here, we also looked at the financial report. Mexico, good performance. Colombia keeps also good performance, the second quarter in 2025, with more exports to other countries in Latin America and Central America. In this first half, these exports were a little bit lower because we're programming to do the shipments in the third quarter. If we compare, this is a little bit lower, the operation is performing well, growing there 18% per year. Now, a little bit of color of the composition of the margins with admin expenses that were diluted in the second quarter. Now we have 29% of the net revenue. The company is doing the needed investments, campaigns, the rebrand, and also trying to keep costs controlled to gain margin through the dilution of these expenses. This is why we have this growth in our gross margins. Investments in R&D and innovation are recurrent. They are not linear. It depends on the phases of the projects in which we are. The strategy is aligned. We want to invest 6%, 7%, or even 8% per year in innovation, apart from the investment in machinery and other types of investments. If we add the investments in technology, equipment, labs, we reach more than 8%, really. This is our strategy. We want to have a very important and significant technological basis. EBITDA in six months reached almost 80%, is the best margin when we look at the last two semesters. The EBITDA is above gross profit. We have this dilution in the cost of operations, as I said. The company is working to keep these profitability indicators healthy. Sometimes when we have a strong moment of growth, we have a pressure in the margins and on cash. I think for the third year in a row, we are growing and expanding margins at the same time, improving our profitability. Cash. This translates our strategy of growing with the extension of margins at the same time. We did BRL 183 million in cash after payment of taxes, interest. The first semester, usually the cash generation is relevant. We have the launching of products. The company closes the first semester, the first half, with a very comfortable position with the cash that totaled BRL 369 million. This brings a positive consequence, the reduction of the operational leverage. If we have the debt. After the payment of dividends, we reduced our financial leverage with a debt composition very comfortable with our ROI, that is comfortable as well. Even with the Selic of 14.15. Apart from this low leverage, the cost of the debt being very compatible with our profile, and we review our portfolio constantly. We have 87% of our debt in the long term, and the aging is also elongated. The cash generated in the first semester is sometimes even smaller than what we have to pay. I close again mentioning the importance of our investments in projects that results in solutions for the complex problems of our agro industry, with the commitment of trying to grow always with the expansion of our margins and giving returns to our investors. I give now back the floor to Kleber. Marcelo, thank you for your presentation. Can you hear me well? Yes. Let me read the questions that we have now. This is an anonymous question. What is your strategy for improving the visibility of Ouro Fino? We all know that we have a low float. 59% of our shares are with the controllers. We have Mitsui with a 99 participation and other funds. The funds concentrate an interesting share of the actions and of the share. It's difficult to have this strategy for the long-term of visibility of the shares. What we are doing is this nice work, showing the results practically. Of course, the company has this low visibility for analysis because of our low free flow. Another question. Could you please explain the strategy for the increase of exports for the next quarters? In terms of strategic planning, we are focusing on our exports for Latin America, especially for the South Cone. We are already very well-positioned in Brazil. That is half of Latin America in terms of markets and results. We have operations in Colombia doing well with cattle. We have Mexico operation that is expanding. We still are working on Uruguay, Paraguay, and Argentina. We have a small operation in Paraguay. We are trying to work harder there and have plans for the other countries. The remaining countries, our strategy is expansion through distribution. We are working strongly to anticipate penetration in those countries. We are trying to anticipate really everything that is possible, even using some regulatory windows. We want to have our local teams there working for generating demands. We are penetrating. We are working for this, to penetrate in Latin America. We have some products that are important and have been calling the attention of the world. We are searching for some strategic alliances. We want to capture value with these global potential products. Another question: can you give us some color about the sales in July and August? The second question, I think I have answered already. Let me talk about July and August, where we don't give guidance. Historically, the third quarter is really strong for our company. We always say that we have these trade fairs, the trade shows. We were in the milk show, the Agroleite. We have summer coming when you have more parasites. It's time for selling anti-parasites. Also we have the reproduction season. Months for big volume. We are working to expand our revenue in this period. Another question, what about the dividends? How is your provision for payouts? We don't give guidance. We try during this period with a lot of analysis, responsibilities. It's also possible to make a payment above the minimum mandatory. Let's see how it behaves this year. Another question, congratulations. I'd like to understand the vision of the company about the stock provision. The questions of the quarter, if there are residual impacts. Also the second question, what about the dynamics of the expenses with sales, the investments, and the pressure of the freight logistics? Regarding stock provisions, Marcelo said this is normal. We had the giving up of the pet vaccine, this suspended. Also, we had some losses in stock. Normal. We understand that this is resolved, and we have been paying attention. We have a team that is working on this because quality is something non-negotiable. We don't like to open the details because they are the daily life of the company. Regarding investments, our plan is to control our costs. Looking at the future of the company, we do the investments needed for the growth and the revenue generation with our commercial and marketing operations. We have been investing in training, marketing campaigns, we want to be an exceller in sales. Regardless of the launching trends, we want to be the best in terms of marketing and sales. We are investing. We are bringing experts, key accounts, product managers to work in the categories. This is a line in which we do our best investment with this expansion point of view. Another question here. Good morning. What about the future of the international operations? What about the Asian market? I've just said that the South Cone is important for us. Argentina, we have complete operations. I can say that we are advancing with strong steps. For Asia, this is ahead. We can explore the potential of some products like vaccines and the newer products that have a global potential. This is not short-term because this demands partnerships and regulatory compliance in those countries. Last question. Congratulations for the results. Can you give colors about the provisions for stock losses? I have explained it. We had the loss, the pet project suspension, some losses with the stocks, we have overcame this problem. The last question, again, sorry that I am here on a precarious way here. I'm so sorry because I am on a gas station. I would like to thank the Ouro Fino team for their commitment that is non-negotiable. I would like to support our investors, the management bodies, Finep, that supports us always. We are happy with the results, we are aware that we have continue with this great job to deliver even better results in the future. Let's go ahead. The second semester is challenging in terms of volume, risks that we have to keep an eye on them. We understand that everything is under control and we are monitoring everything. Ouro Fino is well cared for. Thank you. Marcelo, the floor is yours for your final comments. Thank you, Kleber. Now the questions are over. I would like to thank you for your trust. We are going to continue working hard for delivering good results, and we want to have a good semester ahead. Have a nice day.