Well, good morning. Good morning, welcome. I hope you are very well. It's a huge pleasure to have you here with us during this morning, this event that happens in a hybrid way, with participants in presence here at B3, and also those who will see us in an online session on Randoncorp YouTube. I am Carla Fiorito, I'm journalist, model of ceremony. For me, this is an honor to be here with you throughout this morning. For Randoncorp to be connected to its investors and further stakeholders, it's essential for us to continue building tomorrow together. That's why, in addition to the broadcasting in Portuguese, Randoncorp will have simultaneous translation into English, in addition to sign language interpretation. During our event, our executives will present the challenges, the outlook, strategies, of course, Randoncorp will follow with its purpose, as it was shown during this institutional film, Connecting People, Wealth, Generating Prosperity. The presentations will take place in three panels, i.e., growth avenues, innovation, disruptive innovation, pillars of diversification. We will also have two Q&A sections in which everyone can participate. Of course, we ask you to participate, to enrich further the content of our event, participation is very important, both for those here with us in presence, as well as those who are online with us. You will access the QR code that you can see here on the screen or behind the badge, those in presence here, you access the QR code to request your participation. For the in-person audience, we will bring the microphone to you as per your registration order, and for the online audience, I will read your question. If it is not possible, due to the time constraint, to answer all questions live, our team will contact you after the event. We also inform that this event is being recorded and will be made available on the Randoncorp YouTube channel and also IR website, ri.randoncorp.com. Well, to open officially our event, I invite our Executive VP and CFO, Paulo Prignolato. Paulo, welcome. A round of applause for Paulo, please. Good morning. Good morning, ladies and gentlemen. Thank you very much for those in presence with us and also those who are remotely with us. It is a pleasure to be here in this downtown, thanking the partnership with APIMEC, Lucy, Vinicius, and Fabiana. Before starting, during the coffee break, we were talking about downtown of São Paulo and old days, and we are very happy to be here during this time, telling a bit about the history. Once more, I hope you participate, pose questions, and say things. We have a very interesting day today prepared especially for you. What will be our focus during this event? We will be talking about the focus on long term: mobility, global thoughts, line of thought, and diversification. Therefore, this event was built especially in order that we could focus on these topics. Today, we have here with us the participation, César, and also Sérgio, who is here, our CEO. Before starting, it's important to talk about our governance structure. Today, we are a company in level one, B3, in the stock exchange market, and we have the shareholder, assembly, physical board, and administration today is headed by David Randon, who is the Board Chairman, and Alexandre, the Vice Chair, and also three advisors who are in there, Carolina, Pedro, and Vicente. We also have our Chairman, Daniel Randon, sponsors of ESG, brand, reputation, ethics and compliance committee, and the executive board, composed by the C-level. Sérgio Lançoni will be part of this event, IFO and DRR, and César Ferreira, Superintendent, Technology Director, who will talk about future approaches. It's important to stress our development regarding corporate governance that's developed a lot throughout the last years. This is a journey for Randoncorp, so we started complying to 2020, below 6%, and in 2023, we reached 78.3%. We are very proud to say that our compliance today is bigger than those companies that are listed in the stock exchange market, and we keep on developing. It's important to stress that we disclosed a few months ago, again, to establish a committee of individual that is known as statutory body, that will be advising decisions by the administration board. We are a company. Therefore, important to mention our public commitments regarding ESG agenda. These commitments we disclosed to the market 2 years ago, and this also is a journey throughout the 74 years of history of Randoncorp. Always important to stress the commitments we make and which are developing day with leadership and investments that are evidence, always stressing that our to reducing 40% our greenhouse footprint by 2030, just, and few residues distribution and effluent treating up to 2020, and doubling women in leadership posts and zero serious accidents. No doubt, the innovation ongoing agenda, which is part of our daily affairs, to increase the year net revenues through our products, something that we will talk a lot during these presentations. Now, I pass the floor back to Carla, we will move forward with our event. Thank you, and I hope you make the most of this. Thank you, Paulo, for the opening within context of everything that's happening now. I will ask, let's show you another film, because we are many, we are multiple, several places throughout Brazil, with a passion to path our way, inspired and mobilized by dreams and people and individuals, innovating and creating solutions for the challenges on a daily basis. We are searching for prosperity, which is shared, which respects our relations with the planet and individuals. Always has space for more, a new idea, a new product, a new service, creating a sustainable future jointly with a new way of thinking and doing mobility. We are made up by those that know that in a world as dynamic as ours, to keep on movement is key. It's how we follow. With the appetite for tomorrow and being bold and daring to live the future, we are relentless, and we are always moving and development to connect people, business, wealth, generating prosperity. Randon Companies are now Randoncorp. That's it. This was our film manifest of Randoncorp. We will have our first panel, and to talk about the growth avenues of Randoncorp, I'm pleased to invite to join me on stage, Sérgio Carvalho, CEO of Randoncorp, and Chairman of Asbe Mobility. Please be welcome, Sérgio Carvalho. Thank you, Carla. Can you hear me properly? It's a pleasure to be here with you, and I stress, please be welcome, those in presence and those remotely with us. We are here on a set up, very cool, beautiful day in São Paulo. We had cheese puffs during the welcome coffee, this talk is for sure, and it's a beautiful morning for all of us. I would like to start refreshing and recall that all that we are as a company today, we have 16,000 employees, 32 operations in 8 countries, 9 centers of distribution, 8 joint ventures, 4 e-tech, advanced tech units, and our products can be found in more than 120 countries. Net revenue consolidated O 2022, BRL 11.2 billion, and we invested between R&D, organic investments in organic in the last 5 years, approximately BRL 3.0 billion. We have invested a lot in the preparation of our company for the future. Before talking about the future, let's talk about the short term, because I think it's in everyone's mind. The short term, I mean, it's the current year of 2023, perhaps the next 12 months, if we want to look things this way. We are experiencing a mix of behavior of markets that we are present. Therefore, we have few scenarios of truck and buses market with the advent for scenes of Euro 6. There was a pre-buy by the previous config that we reflected here, but also difficulties regarding pricing of new vehicles with new technologies. The segments of semi-tow, we have seen the performance with the previous years, the segment of replacement over performance, which is huge. The segments linked to the export also were deperforming well. All this was is one more evidence of what we have said frequently for all of you, which is the model of- ... more resilience for revenues that we are having of Randon Companies. Many see us as the semi-tow manufacturers, which is true, too, but this part represents one third of the company revenues important today. Even though those moments more difficult now that we are experienced now in these countries, we keep on growing our revenues, perhaps not at the same pace, like, speeded pace as before, but to keep on growing, this is the evidence of what we have said frequently here. The interest rate, we cannot address this. It's on the 24/7 news every day. It's a bad thing, but it's good we need to control the inflation. We see no economy effects, so we're on the border of a new process where the interest rate will be reduced. The exchange rate has impacted negatively our international business slightly. Raw material inflation very well. We have managed to reduce substantially our cost in raw material and several uncertainties that is in our environment, political environment, uncertainties in Brazil and in the global scenario. We have a new government in office, new views, proposals, tax reform, and many other products that we have on the way, that are being advanced, even though with the change of government and the worldwide uncertainties, geopolitical, which is an ongoing concern, not only the war in Ukraine, but the impact of coronavirus worldwide, Taiwan, China, and the dispute, commercial one, that is stronger and stronger between the North America and the Chinese, representing a big risk and also representing a big opportunity for those that are correctly positioned. In our view, it's expressed in our fairness that we every month publish. We had foreseen most of what has been through, but we are calm. We know what we've done and what we forecasted is correct. Our revenues are growing, the consistent margins, as we had an accelerated growth, what we consider for next year, and this year, it's from BRL 10.5 billion-BRL 12 billion revenue. Our chart is very clear, and you can know there is a growth and participation that's even bigger with the foreign market. That is reflected in 2003, and the minimum margin is 13%, and the maximum is 16%, and the result of our Q1, we delivered 6% of margin EBITDA, and we are very solid, financially speaking. We're investing proportionally to the size of our company. That's very relevant. Despite that, we already have the leverage that extremely controlled, 1.5x our EBITDA. How do we grow? Accelerated one, with new technologies for the future, at the same time, our governance is taking us, as Paulo has said, in a responsible way. We are controlling very well our leverage, we have improved our secondary market. The medium cost of our debt in Rio is 5.1 times below the market in takeaway companies. It shows the good work we're doing, obviously, the team is working well, the banks are considering our company very well, they are safe, they feel safe the way we are taking. Concerning resilience in our business, explaining and comparing the Q1 of 2003 with 2022, BRL 2.7 billion this year, compared to BRL 2.5 billion former years. It's not the same rate in terms of growth that we presented, but despite adversities, we're still growing. The implementing segment for us is 29%, very close to the previous years, and the big drop has to do with production of trucks, specifically Euro 6, we buy number 5. You see the drop concerning that, and the replacement, we are growing well in the foreign market. I will tell more about it. It's more this, in this case, and financially speaking, digitally speaking, we are growing more in our technology area as well. What we repeat, despite having a very different moment concerning production of trucks, it's substantial in our market. We are giving job to BRL 2.7 billion. It represents growth in the first second of the year. If you compare the revenues that we are having, we're maintaining the growth recently. We are almost in the third quarter. An information about the 3 verticals in business, what impact our revenue. You see that in the vertical, our company, our automobile company, talking about the semi-tows and the trucks, and the replacement of the semi-tows are the most important ones. Concerning the semi-tows, it's associated to agribusiness and the small growth in the non-agro segment. Also, concerning export to Argentina and the production to exports to Chile and South America in general, the economies are very difficult positioned. You see the blue bars, is it working? Can you see the drop of BRL 173 million-BRL 84 million? Above that, you see in the orange one, is the foreign American market contributing to our growth with BRL 156 million. We are representing vertically the Q1. Concerning the auto parts, for instance, we are representing decreased. It has to do with the recent trucks, as I've already said, there is a drop in the consolidated value, domestically speaking as well, and this stable one in the implementation segment. Our mobility is presenting, concerning external part, a very specific situation concerning Argentina and a big client that we have that has done some adjustment in terms of stocks, giving a reduction in our revenue in this quarter. The domestic market for reposition, concerning mobility, is going very well. It's BRL 376 million, it's a big growth. The inventories are growing. You see now it's BRL 139 million. We are strong as a company. We know that there are moments that some segments will be down, but the others compensate that there is a balance. Again, it's a very delicate moment for our business, but we are betting that we will have positive results, and we are growing in assembly. When you consider the horizon, it's sustainable growth in 2016, if you compare to 2022, you see there the revenue of BRL 2.5 billion, it comes to 1.2 and 4.2 bigger. It has been out and almost tripled, and our PBR is 10.5 in growth, and our net profit and the result is almost 9 times our CapEx, going together with our views of the future, with growth that are very exponential, in order we are sustainable in our journey in the future. If on one hand, the past is a legacy, the future is a raw material that we have in the present. We will show what we are doing now over the last years, if following the results, we will show our view concerning the future and how we're taking our growth with our company to the next stage of growth. Talking about mergers, I think we have recently an operation of yours in Campinas, totally automated by our own company, Norton, producing articulations for the buses with a technology that is high class, and it's state-of-the-art. Our partner, the German partners, was taking this solution to Germany, sorry, to do the same thing there. Distributions from the mobility part, several of you have been there in the beginning of this process of transfer. In the south of Brazil, the rest is Fras-le Mobility is this center of distribution present. We have a new distribution center in Caxias, in Santa Catarina, and we have an automated line producing our trucks and 100% automated concerning our vehicle bodies. We have in Argentina, a consolidation. In the past, we had 4 units, now we are under the same roof with modern installations, and we are creating now a joint venture with Gerdau. We will talk about this subject. We have an automated line, and there is a new state of that we are presenting. We have Eurotrans concerning this new operation. It's a warehouse. It's also automated. The factory that we announced 2 months ago, concerning electromobility and the buy of these assets, we are having the auto parts presence as well. In the United States, it happened last year in November. We are going very, very well, we're very happy. Suspensys is relocated in Mexico, which is much more adequate for our type of business. We created Randon Ventures, and now we have the same tools in part of the south, and this operation is going very well, much better than we thought. Recently, beginning of February, we announced the Geotrack purchase. We are expanding our part of mobility with this replacing warehousing and DB, the company that works with software. Software is the key of the digital world. It is very difficult to find professionals that work with that. It's a big challenge, so we have to protect our intellectual property. That's why we've done this movement, to have access to the development of softwares, that's the future, and also to create solutions and protect the same. It's equally important. So many things happening in this segment. In terms of new products and services, new business as well, and the system concerning poles and what we are doing now, what we detail better for selling the mobility with new materials. We have to compare the business in China, in India, we have a team working there. There is a lot happening there. New business for our auto parts markets, Randon's market. It is a telemetry product that we launched. It's going very well, and we're not producing because we do not have the semiconductors now, but there is a very big differentiation. I've already mentioned concerning our auto parts, the modular platform that we'll talk about as well, Randon Solar and nanoparticles, we are producing more normally now. You're going to talk about it as well. The sales of the e-Sys system, the same talk is happening since last year. We have projects of e-Sys for trucks, for special vehicles as well. Exports of containers and also trucks and long trucks that we're exporting to U.S. What I have mentioned is using international methodologies. This project is a project with low volume, in the case of railway. This change of the design contributes to reducing the greenhouse emissions in 46 automobiles in one year. It's a unique project that we developed, and we adopted a new methodology that is professional and global. It's auditable. We can use the auditing, and it will be our first product that will be developed according to this methodology, and we'll use it in other products as well. We have a new machine you've seen in our manifest. The sentence is there, mobility. It has been changed recently, and we'll go into details. There are lots of things that are good. It's just a sampling what of we've done in the past, recently. It's not only the financial results that are good. There are adverse situations, of course, but we're taking care of people, investment, governance, environment. What do we have to do to build the future that we look for? We have split, and we talked with you previously about the North, the strategies that we take. What are they? They are not strategies that are specific of the units. The north that we take care of are company principles, mantras, our idea, what's vertical, regardless the country we are, we are in line with the best thoughts about that for years. Innovation, technology is key for us, is a differentiation. No company will survive without it, having technology and renewal as differentiations. Focus on the client, it's cliché, everybody repeats that. We do it over the last decades, what we want is a real focus, creating solutions for our clients, solutions for the clients of our clients. As long the clients are happy, you are adding value, they will maintain the business, and they will expand with our business. Internally working, domestically working, to have the focus on the clients to be a very important point. As we said in the past, diversification, 30% of replacements in the international market. The economy is going well. The things in Mexico are fine. Business is not going well if you're not producing so much. Naturally, we have to do more maintenance, so use the present assets, do replacements, and normally, when the economy is not so good, there is a devaluation of the currency, but normally, if you're exporting, in the transference of the exchange, you have some gains. It is being robust. We want to be robust financially, but we also want to generate a performance that you have good flow supporting our projects in the future. Synergy is very important for us. Our surname should be synergy, because everything we do, without synergy, we don't do. We do not buy a company without defining where the synergy will come, not only in that business, but in the interrelationship with the other companies as well. It's so important for us, being a company where people want to work, our principles, the way we are and do, and our values and experiences, and ESG, we already mentioned. Again, it's not only the strategies, the north that we take and the principles of our companies. Now talking a bit our strategical plan, what normally we don't speak that clearly. Last year, we always dealt with this in the past, more confidentially, confidential-wise. We brought to the public knowledge, so we feel comfortable by dealing it with you, while presenting it. One thing is to share information, another one is to copy. To get an idea that you should effective, someone do it equally, and executing it is more complicated. We will share with you now some pieces of information regarding our strategical plan, which is the basis of what we have done, the results we are showing, our growth. Everything has to do with a point of view that we have of the future and strategies and how we execute it. Everything that's happening today, as you will see as follows, these are points that we addressed years ago. Our process involves the strategical guidance, which are business principles. We have a one-year plan, which is the operational plan, so the execution, we have to follow the plan. This is sure. A five-year plan and 10-year plan. Five-year plan is more strategic, it's not operational. It is rich in strategies, less rich in figures, and 10-year plan is more a future point of view regarding positioning, no figures linked to it. This is an in-house structure, very detailed plan, with lots of information, but the process is the way it is what we are showing you. What you see on the screen has been disclosed for some years, especially through the Fas world and Mobility First, that we developed in 2017. This slide is exactly what we used in the past, and something was shown, perhaps with different colors, but this slide is our original plan. I would like to explain further why we have developed this plan six years ago. First, to create a powerhouse of replacement or refurbishment. At this time, 2017, we talked about electrification. As we speak today, autonomous vehicles, but the level of knowledge was very limited. Very great more. What will happen with this? What will be the impact on Frasle and Suspensys? We didn't have the level of knowledge we have today. Therefore, back then, our view was the following: If by magic, next week, Monday, 100% of cars will be electrical, replacement is based on the population of those cars on the field, so we will be pro-protected. If the technology change, like switch, we would be protected. Investing on replacement was a safe harbor for us, and it's been profitable, resilience and the variation of trucks manufactured during 10 years had varied to 170 for the peak and down. Replacement had variated 40%. There's variability, yes, but not as much as O&M businesses. It's profitable, and it was core for us. That's why we chose to do these investments. That's why we voted Fremax and bought a Nakata. All this was part of a plan developed back then. All we have followed had been planned on the long term. Well, the second bar, diversifying the O&M business into advanced materials, this also we defined 6 years ago. What was the thought back then? Repeating, we don't know what's going to happen with technology. Nevertheless, we know that the trend of removing weight from vehicles regarding the source of energy of these cars, electrical batteries, and hydrogen, the lighter vehicles become, less energy they will need, and this we cannot go against. Cars today have less components and still back compared to the past. That's why we invested in this journey. That's why we have today, the Smart Composites. That's why nanotechnology appeared. All this foreseen six years ago, and the developments that followed in public knowledge in the recent past are linked to this development. The third business of embedded electronics we have launched recently, our telemetry system is smarter. Paulo César, excuse me, will talk about it, and the expansion of business in different geographies, international markets. Back then, our focus was more towards the emerging market. That's why we doubled our operation in China and went to India. This was our plan as auto parts, and back then, Randon Companies, this was the auto part co-plan, and Frasle was part of the auto parts during this time. We had to divide the Frasle and auto parts Randon. Two years ago, we divided. Dividing all this history then telling it, everything we did in the past, I hope you can see that this was all planned five, six years ago, and we are now executing exactly what we have programmed with slight deviation, and one case is what we are being able to deliver solutions before what we have planned. This is the past. Now, what are our future plans now? What are we going to do during our new journey, always abiding by our guiding strategies? We will keep on now expanding this platform that we have created, this powerhouse of replace and rebirth. For the same reasons you can see market stability, cash generation, lots of synergies, investing on replacement. You must have the relation of capital versus the revenues you generate is more favorable here than the transaction, purely industrial or manufacturing cars. This is keeping on expanding this well-succeeded replacement powerhouse. This is a small film. I don't know who will play the film. Let's see, it's going to work. Yes, Frasle. This Automec that happened during last April, a few months, showing our booths and how we participate in this special fair. Important points for you during this event, that was a huge success, this fair, as all. It meant I walked through the aisle of the fair, trade fair, number 1 of a huge European multinational company, gigantic in fact. We walked through the aisles and said, "Sérgio, we must invest on the replacement market." I thought, "Yes, but we decided to do this 6 years ago." Something good we did back then, because we were already in this path. When we talked with our clients, we don't have specific figures, 1, to our competitors many times are not listed companies to know our position in the marketplace. What I know of the top 10 Brazilian distribution companies, 7 say we are the big ones for there. A good chance for us to be the biggest company on the replacement segment in Brazil, taking, going over international companies. All this that we have developed in this project in 2017 and 2018. The special fair was a huge success. We were congratulated for what we did, but it was a reflex of all this work and execution of by our teams. The second element, and there's an arrow covered that I will go back and address it later on, it was international expansion. We already shared it with you. We want to reach 30% of our revenues in international market, but there was a variation. Previously, we talked about emerging markets, now we are more focused on major economies and strong currencies. For several reasons, U.S., especially, is the biggest market, worldwide speaking, and has resilience in its revenue, strong co-currency, more cultural development. With in China, the culture is quite different. It goes back the whole sets of values. It's a huge challenge comparing both countries. Dealing with American transactions, it's similar to we, Brazilians, the manufacturing plans indicators are similar. There are differences, of course, there are, but it's more closer to what we do to us than when you are in Asia. Several synergies, interregions, international synergies included. Another important strategy for us is this priority giving to development of smart materials. This is also an extension of what we have been doing, but giving more speed and body and investments, not only for using this, these smart materials in our products, but also many creating new avenues for growth. Likewise, terms of reasons, one cannot go against price reduction, improvement for clients, everything to do with ESG. Here it gives an competitive edge, and we can protect the industrial property. This is very important for us. No use developing something very cool with advantage for 6 months, 1 year, and the competitor will copy, and you lose it all. Here, with our composite and nanoparticles technology, we can do things that we don't need to sell to competitors. We can retain this technology for us with patent and everything thought about it. This is extremely important for our future. The participation in electromobility, this is a huge market, electrical vehicles, buses and trucks, airplanes, ships, all electrical, everything electrical today, this is a giant market emerging, and we want to be part of this market, and we have strong initiatives in this sense to be tapped. Finally, the efficiency of eco-friendly products to reduce the footprint of CO2. Everything we have been doing, I gave the example of these railway shoes, the mobility phase, and César will drill down on this, has to do with our objective. These are our views and strategies for the future, but you can notice there are several arrows that are erased. Is not too food for thought, but these subjects, they have a confidential aspect. We cannot share it with you. Our plan is more extensive than what I'm showing you. Perhaps one of these we will bring to public knowledge before the end of the year, but this is the equivalent to the chart you saw with yellow arrows at the beginning, and I hope in five years, we can look back and say the same things that we said. Well, this is our revenues journey. I think I'm way beyond the given time. Yes, well, it's confirmed. BRL 2.6 billion, reaching BRL 11.2 billion in 2022. This is our guidance for this year. We have a clear view where we want to reach in this new cycle. We know the size of the company we want to reach, we know the route of how to reach it, and we have this track record of delivering and doing what we have said. Of course, obviously, for several reasons, we don't have the freedom to disclose the timing and values, but the message is that there is a plan and it's sturdy, detailed, and it's part of the strong, of point of Randoncorp. When we adopted this plan and development and process included, we start to be more consistent in our deliverables. This is the message we pass through the sharing a bit with the stressing. There's a strong process with you, thank you very much, I apologize for taking more than I'm given. Thank you, Sérgio. It's the pieces of information presentation. It's good to see how the company is laying down, it's preparing its future. Before the next panel, I know how important your feedback is important to Randoncorp. We will have now a moment of interaction. I will pose 3 questions using the Mentimeter platform. Prepare your mobile phones, including those online with us. You will answer the questions. Recall how I explained, accessing the QR code that will appear on our screen. You will have approximately 30 seconds to answer each one of the questions, then we will show in real time the answers. Let's participate. I will prepare the first question. Now, how do you rate the current market moment for capital goods companies? How do you rate the current market moment for capital goods companies? Okay, I haven't noticed. Soon, it will be shown. The QR code. Let's test again. Three questions, I will show them later. Oh, it's working. Okay. César is just who will speak on the second panel. The Superintendent Director, César Augusto Ferreira, will share with us about pieces and innovations, disruptive innovations of Randoncorp. César, welcome. We have advanced you a bit, thank you, Carla, and all the attendees. I thank also those who are following us online. Now, some of you have followed things with us and have heard about. I always start talking about our innovation in product, I would like also to use this moment and start by talking about processes. We have worked on with a strong force. As you mentioned, some of the things we have done in manufacturing, and we have a strategy in this sense. We have invested in a consistent way in these four pillars, which I deem them very important to sustain this growth. We have to provide protection we must give to our businesses and to keep us connected, efficient, and have progressability as things have to do. We have worked strongly on these three verticals. We have looked for developing tech solutions in manufacturing of proprietary sense. He mentioned the project of automation of the plant, of your strict in terms of circulation. The whole concept of this plant was developed by a solution, also customized for the type of product. I said, we briefly touched, the chairman guys came here and said, "You're doing it like this." "Yes, and it's ours. We have a patent on it." We, as partners, can share, but we are pro- protecting the market solutions that can be seen today as simple, but presenting a competitive advantage to us in our process. Talking about creating processes and machinery to our core and putting this. We'll guarantee yes, competitiveness we need, and protect us of what we always use this sentence: If I buy a super equipment that will triple my productivity, perhaps my competitor will receive this instrument before, because the guy that sold to me will sell to him. I have already bought it. We want protection, of course, automation, our strong point. We have invested a lot in automation, I will talk about more about it. We have invested in robots, and we are using it intensely, and far, looking for efficiency and quality guarantee of our processes. Focus, talking about in order to process handling of parts, we are not talking just about efficiency, we are talking about safety. Also, all the concepts of what we know of smart manufacturing. Some rather call it Industry 4.0. I like smart manufacturing, because what we are doing is to create, in fact, through it, putting intelligence in our manufacturing. Let's say, talking about something new. I don't know if you all heard, I was talking about it. We are working strongly on the building of a proprietary manufacturing investment. We have a complexity at hand on quality because our businesses are very diversified. Buying a platform that's ready and trying to customize it, will not work out. We will not be able to protect also part of our know-how, which is part of our productive process. We are creating our platform. It has a name, Easiness. It is a path. You can see we have here long plan of development. We are already advanced in the phase of visibility, searching for transparency, following the logic of building what will be our smart plant, autonomous for the future. There is a link that I have to mention. The DT is a big talk for these structures. Again, our movements are integrated, and yes, we have people that are very good and help us in this construction of this manufacturing system. As I said, in order to be efficient, we have to have more automation. Sérgio has mentioned 4, but there are more than 40 automated projects being implemented over the last months, and I can guarantee that we are almost with 50 solutions in terms of automation in the Randon Companies. When I'm talking about process, I say it. 10 robots or no robots or other automation process, but we're investing a lot in manufacturing technology, showing the results in our operational costs and the outcome of our works. What I always repeat, and I hammer on that, I talk about product, I do some background, as Sérgio has said. If you see the headlines 2 years ago, probably, and if you consider what Sérgio comments and our initiatives in material, in the electrification strategy, the niobium, all that leads to the consolidated strategy that is being confirmed. What you see in the middle of the screen, that's very important. It adds value, and you have to have places to find solutions in terms of electrification. They will deliver what is necessary. The composite and the gains in the operation, in the environment, you have to balance the increment in terms of waste, the composite material, artificial intelligence. What we do in the composite area, with most of these international sources that are international, we have translations of international papers showing in line and consistent working in this direction in terms of composites. What we are working, and I reinforce with that, we are sharing this information here. When you discuss electric mobility, it is more than necessary. It's vital if you are in the automobile company. If you talk about mobility, it's not limiting to exclusively talking about battery or engines, electric engines. If you talk about mobility, you're considering hydrogen. You use a solar fuel. If there is electricity involved, there is a transformer involved that transforms hydrogen in electric energy. If you reduce using these technologies, the footprint, of course, you go via electrification, even when battery is not the biggest source of energy, but the traction will be electric. We have to consider that strongly. You see examples, I will talk more about it, what we're doing in this sense, talking about embedded electronics. It's another source, another vertical of our movements in the Advanced Technology. You're talking about intelligence in our products. You can have any product offered in the market, but it has to bring information, deliver data in situations that help the anticipation and the building of a maintenance plan that is preventive, and it sounds. A better product, adequate to the market, understanding the use and apply of the application of that product from the part of the client, delivering the best to the client with data. Data is the future, is the product of the future. A solution portfolio is here, not only the total semi tow, talking about all the auto parts, they have to talk. They have to show their condition, what they need, what they feel, between inverted commas, to understand efficiency in our operations. Of course, Sérgio has pinpoint materials that are very important, a very important source. We're investing a lot with effort. We have competent people working with us. I was visiting Florianópolis. I'm transferring the NIONE operation to a better place that we have. In Santa Catarina, many projects together. Material for us is a source, is part of a strategy that, again, resilience, reducing the waste, gain. Not only that, we are considering other things like, efficiency in the batteries, a series of initiatives that are very interesting, concerning material. Concerning electric mobility, we have to mention I-SUS, most of you know it, you're giving classes about it. You heard so much that you can explain better than I do. We have trades in the market. At the end of last year, Sérgio, I'll repeat your sentence. Sérgio said, "I believe it did not happen, having the biggest event in transport in Germany, and seeing there a solution that is inspired in our solution." That is 4 years after we have launched it. We are happy with the solution. It did not stop, it's generating opportunities, and some of it, I would say, is not a limitation only to the road increment, but we have real solutions presenting for the agribusiness to transport or equipment concerning mobility and logistics. People are looking based on the versatilities of our solutions. We have a vast range of products, and we are finding some solutions that we did not consider in the beginning. Now, the use of our product is there. We cannot give many details, but we can tell you that we are advancing and integrating solutions with a new audience. What I just talked about with other people, the solution is hybrid to us. Let us say, an old truck, you can consider the FNM, the old one. We can use and have a hybrid solution. Imagine the new technologies, if we embed everything electrically with solutions, considering the size of our country, considering this aspect of infrastructure, that may be a drastic technology change would affect details in business like ours. We have to be flexible, we have to adapt. Promising things are happening, and very soon, we'll bring news to you in this area as well. We did not stop. What we talk about electric mobility, we did not stop considering only batteries. We also presented solutions of integration, use of solar energy, sun energy, solar energy, using the trucks and the transport that are using the reductions of fuel. The secret is not in the hybrid, it's in the embedded logistics, taking decisions. We have inputs in the building of this algorithm when the vehicle has access in the internet, and that reason that they are inserted, where we have the road on. The position on the road, so what's the direction concerning the sun in that period of the year? How is the climate? How is the weather? We take the internet data. We're talking about generating, let us say, in a big truck circulating in our region. It was in Santa Catarina, the research. Almost 1,000 kilowatts per million in terms of economy. It's saving, you see, if you consider the upper part of the truck and the laterals, we use this energy. If you consider, when you have cold interference, for instance, because you have to cool the material that is in the area. So it also in terms of energy that's being transformed, it started to be a solution, not a problem. When you have reefers, you have to consider that. When you consider footprint, it's our responsibility as well. When we talk about electronics, there is a case that I always mention, success case, we developed as a partner solution for Mata. It is a solution that's been used by our auto parts system of MS, that it was initially applied in road methods. We tell that in terms of efficient and response, that's the best solution that we have in the market. Of course, thousands of solutions already implemented in our process and others as well in the peers of the market. We start bringing technology, electronic technology. In the past, it was not so common. It was not the priority. It was not in the list of products that Venzone had in the past. Now we do, but we do not limit to that. We've seen the launch of Randon Smart. It's a solution that was developed by this team, that's not only building a software or interface, absolutely well accepted in the market. If anyone has mentioned it, but when you've seen Randon Smart, the operator said, "God, that's what we needed. There were solutions, but they were not complete. We do not match things. You have a complete solution that we believe is the app for the success for our products." It's just starting. We call it phase zero, because V1 was bigger than V0, so we had a pre-version that was well accepted. What are we considering with these solutions? Not only telemetry. Of course, it's important, but delivering the data with intelligence, getting what we have as having more electronic information concerning our parts, sensors, intelligent sensors, algorithms that are created. The owner can before the driver, give information. Maintenance is necessary, perhaps it's not adequate, the use. We could affect the life of the product. Everything has to be considered beforehand. We have to feed with concepts and give a better use for our products. Work with this kind of concept. It's not only sending data. This is our standard. What we have to do is send intelligent data, useful data, and we are very happy to say that we have the feedback of the market concerning what we've done with this type of solution, and it's working well. I can also mention about materials. As Sérgio has said, it's one of our priorities, and we talk about material, not only about composites, as you see here. We say things that are new, about new concepts in terms of material, reinventing some material, looking for alternative solutions in several parts of the group. We develop projects that are international, and we just dominated, let's say, involved in searches that we're seeing globally, we deviate maintain international projects with researchers. What I want to say is that we do not limit ourselves to what's close to us. We're looking for technology everywhere, in places that are not available. If we add to the project, we do. We believe something that we're having fruits, and we have give more and more of that too, with processes of performance are here. Talking about what is integrated advanced in our chain, in our solutions for the manual cock, we have something very in mind. We generate advanced technology, a part of what we do, to the other part section, the automotive companies and the market, it generate value and characteristics placed by Sérgio as well. The priority product, Randoncorp has never generated complete market months, as we have delivered in the last months. It's the light that showing what's happening all over the world in the corporation, via creating technology and protecting this technology via ideas that are international. That's what we are doing. We have to talk about materials, and we have to talk about composites. It started our initiative with advanced technology, looking for solutions using other types of material. We know and explored, you know it, hundreds of thousands of parts in the market, not only in Randon Implementos, but also it's a private market. The photos you are seeing on the screen were in Fenatran, who is a big producers of trucks in the market, are players. Everybody knows its impact, has launched the nutrition vehicles, as well. It's a new mechanic horse that is used, and the solution, compost, embedded compost. It's a revolution in the market. Sérgio heard a lot about several. The CEOs came, "Why are you not in the same boat?" Fear and effect came closer and easier, and they break in the market. The solutions are having important impact. We're discussing with the head offices, people from abroad said, "We want this type of product as well." A player has said, "I shown it to my partner abroad, and they said, 'Oh, nice, you have it here!'" It's not disruptive. It's a challenge we had, looking for a solution that the market will accept. Accepting solutions that are coming now, advanced technology and providing business is a relevant asset. We are delivering what we wanted to do. It's a transformation. When we talk about compost and composite material, and technology, the MMC, is going so well. There are other technologies we're studying and improving that will be delivered to this year to compost in order to be explored in the market, and it seems that it's not like that. It's precautious to say, but it isn't. We've given only the first little step, very small. What we see we can do is much more with compost and with composite material. When you consider that attentively and vastly, I summarize on the screen in a simple way, that's what we see. Transformation in new raw material. It's not here without a purpose, either things that we are bringing, and also big realities being installed in alternative material. The image you see on the screen, most of them are products that are already embedded in new solutions that we have for our clients as well. We're proceeding to protect bioprocesses, production processes. Our view is very clear, where we can get, what we can reach when we consider the end product in our company, but also solutions that are embedded in other clients, in other markets. We have a road ahead of us that's very bold. I have to talk also about the NIONE. I have to tell you, of course, last time we discussed it, we said that we had around 20 projects going on. Now we have 65 projects being developed in nanotechnology. How are we working with that? In fact, we are several areas in the front. When I discuss it with you, I can tell that we do have solutions in the market, building and other ones. All the fronts are embedded, approximately, let us say, 65 initiatives. We always think about ink, well, that we've developed together with them. It's a nanostructure one. We always refer to this ink. Of course, its painting is a solution. Of course, our business, we always appreciate it. It's a line of business, a solution, our company enjoying views on the screen, shown there. You see the painting, we can revise the product. I say, revisit. It's not only using the painting that's nanostructured and that is obtained in the market. It's a market that requires, north of the states, police, utility companies, there. The requirements are very tough concerning. Also this solution and this technology allowed an important reduction in energy expenditures, both for cure time and the pre-prepare of the part. Technology is not only limited to nanostructured paint with the function anticorruption. We went beyond this. This paint allowed drying technologies to be used that not long ago were not allowed for this type of product, because many times generated some type of imperfection. Now, these parts, they dry in minutes. We're talking very short time intervals with expenditure of energy. We don't use high temperatures for cure. Another concept with microwaves, completely different than the nanostructured paint allowed us to use. I place this, it's just the first one. It's just water-based, only paint and chemical products. We have a wide range of those products, and we don't have to use hot houses because they are very major. We will have novelties that we presented in the marketplace. WEG partners and other initiatives with other players which are related here with lines of product that WEG, our partner, does not do, and so forth. Just on the chemical front, it's where we did our first bet, NIONE, is bringing revolution as we have combined, we will do it, and we are harvesting the fruits from this, NIONE. There's another front that was shown. We have a line of products being developed, but we are seeing this line as much or more transformational than the corrosion subject, which is the impact of nanoparticles in metallic products. We found it modular and gray because we have a huge capacity installed in the group. We have Castertech with a capacity of producing more than 120 tons of found ry gray iron. We will research this line of product, and down here you see a wide range where we think we will have present impacts, which are substantial. We have alloys also. One of the things we have, this hub here, this hub in some countries, manufacturer of aluminum. Imagine comparing aluminum hub with a casted iron and the difference of cost, because aluminum, because it demands reduction in weight, among other things. We are challenging ourselves to transform our casted iron hub to aluminum, and the weight closer to the casted iron weight. This is one of the challenges we are posing, when we challenge ourselves, we will deliver. If I'm telling you, it's because we are close to reaching our purpose. These are things very relevant within our landscape that we are presenting. If I talk about the 65 projects and several initiatives that are very nature and close to becoming reality, it will take the whole afternoon of today. I would like to make it clear that NIONE has expanded its horizontal opportunities. We have cool things, as I mentioned. Yesterday, I came from Santa Catarina, where we have NIONE in premises. We have interesting things. We will have to change its site and place in a different region. It needs more space and also be closer to some certain hubs. NIONE is flying, and we are very, very happy with what we are seeing happening over there. Of course, Lucas will be mad at me. You tell, but you don't tell really a thing. One of the areas Sérgio did not mention, I will repeat what he did, but we still want to present during 2023, at most 2024, a tech novelty that is quite interesting that we are working on. It is a new arm. We want to show, and we are happy with what we have seen so, the reaction of those we have presented. It will be presented as a concept. It's a cool business we are working on that shows the capacity, technically, eco-wise, of the group that we built within Randoncorp, to develop and work in line solutions with the demands we understand that worldwide, automotive or global, if you rather, will request from us in a very short time scenario. I promise to deliver a bit early, but I think I'm within the given time. Thank you very much. I think we will have more opportunities to talk. Thank you, César. Please stay with me on stage. You gave us some extra time. Thank you very much. I promised 10, but I delivered 2, so I'm still owing time. Amazing to follow innovations that you have shown us now. We will do a solo. I ask Sérgio to join me on stage, and Paulo, please join us on stage. I invite now the Investors Relationship Director, Esteban Angeletti, please join us on stage, investors. We will have a Q&A moment, right? Just to stress, as we organize things, you can sit down now. We have our QR code for the question you access on behind your badge. It is available. Esteban, you have the floor, and enjoy your panel. Thank you, Carla, and all those with us in presence and remotely. Just stressing this section can be accessed, the QR code on screen and not behind your badge. Place your name so. Those who are in presence will follow and abide by a queue. Online, you also have a queue with the RI team, and we will receive questions in written. First question: Lucas Marchiori. Please, if you can get the... Lucas needs a microphone. Good morning. Thank you very much for the event. Nice to meet you. Just to advocate my rights, we always want more than you can show us, so you know the importance of keeping some secrets. Excellent. I think it's a question a bit mixed with both panels from Sérgio and César. These events are good for us to reaccess the strategy planning on the long term. I found especially interesting during your presentation, Sérgio, when we saw the auto parts in 17, there was an element, perhaps of medium term, the third bar, and entry the management segment, electricity management of components on auto industry. When we look what is being developed today, we have one more focus on material processing. Perhaps this is a migration due to adjustment, perhaps of what is a core competence of the company, powerhouse, as you said, about materials, composite materials, and different processing for different products. It seems to be something more compliant, what is the metal mechanic things of the company. I understand a bit this adjustment of roadmap of what the company has to do, but I want to understand how much you understand that you are distant and what's lacking, perhaps regarding core competencies development to encompass the embedded electricity that César mentioned so much. Perhaps we noticed this is a bit more distant than the whole hardcore of the company in terms of science, technology embedded. I would like to know how you are distant and what you're doing to catch up this, so this becomes an important line of growth for the company in medium and short term. Thank you. Well, thank you, Lucas. Well, good that the first question is not the implement of semi-trailers and about new technology and so forth. I pass the question to Sérgio and César, but truly, it's a point that the market is asking a lot. Yesterday, we attended a conference, they started to ask this: How much, in addition to product, we are truly becoming a platform that might become possible to offer this to other clients and including competitors. Marcelo and César, please. Well, I will start answering. Lucas, thank you for the question, César will join and give his point or his view if necessary. First, your perception, it's very clear, you read things in a very clear way. There are those technologies which are more close. Let's say, if we could rank all those strategic plans, there's no doubt that smart materials have priority and importance and impact, which is higher for us than embedded electronics in vehicles. There's no way we cannot be part of this. If it's not that important, why are including this? Because we cannot be out of this. Today, as an extent digital world, all solutions talk amongst themselves and talk with the vehicles, we talk or will talk among themselves, and in fact, they're already talking and talk with cities. We must have perhaps products or platforms that will allow us to evolve within this Ciera. Software's development, it will be vital. That's why we hit development of DB, so we can have more power regarding solutions developed in the sense. Randon Smart, we are crawling, and the own open ABS system, but we don't have intentions of becoming or competing with all the integrated driving system, ours, with directions of operation systems and controlling a substantial share of trucks and vehicles of the future. These proposals, they exist on the side of big companies and worldwide companies. We believe these companies in this new world, they will have to control something if they do an outsourcing of all technologies. What will they have left for them? They will have a huge added value control. We want to have specific solutions for our products and specific solutions in this space that will allow us to go hand in hand with assembling contents or automobile companies, if it noticed by the automobile companies as a threat. We don't want this position. I would say the main deficiency, according to my point of view, instead of feel free to pose your view, this need, we have more competence in the development of softwares and DB server, and that works on supermarkets, benches, and airplanes, a strong group that lied to our tech group that are very competent for the industry. It will be a cool thing, even fighter jets included. I will add, we don't want to change the space we are occupying the industry. We must be updated to keep ourselves in this space. Most players we have in a way, embedded in our technologies. In fact, they are players which are big, some are big clients we have. If we are not prepared and updated tech-wise, understanding the impact and opportunities related to ratification of those companies regard components regarding as materials, we can go without saying, we must be updated. If we don't use the expertise that we have, why compose is not within Fras-le? Because Fras-le has a competence in materials since its first day. We have brakes and parts, and it's not a composite, but it's a materials, so a high level of complexity. This technology we use, this tablet within the brake, the brake pads also included. We are without part of this party, we will be sent sitting behind it or at the bottom. We want to keep on sitting on the front seats of this business because we are sure that the auto industry will change, basically, but not exclusively, the directions we are pointing towards. Excellent. Thank you, Sérgio said. The next question by Victor Misuzaki. Victor Congratulations for the presentation. I have two questions. The first one says, you mentioned several fronts of innovation, new products. My first question is, what you see regarding difficulties in a go-to-market strategy of these products? Also, as you mentioned, regarding the issue related to the hub price, is something important. Your client will not only look at payback, but price. The second question regarding this, thinking about materials, how do you see the opportunity of expanding for out of the automotive sector? Thank you very much for the question. I would say there's something we cannot evade, and we even have an in-house name for it, perhaps not the best one, but it answers part of your question. Yes, we live with neo phobism. There are lots of new things, and I was just saying, I think, with Eloisa during the welcome coffee, that when we reach to validate and present a solution, we have a framework of validation. We present to a certain client, perhaps this, our client is still one of a bigger industry. The simple spa-space of validation that repeat itself to confirm what is being said, because it's new, it's there. It's a challenge, but it's well addressed amongst our plans, and we are not in the industry since yesterday. We need new things. We have to respect cycles. The automotive industry on an overall, if compared to other industries, is a traditional one, very conservative, so steps are firm. We have this addressed, and for us, even because we co-lived with this, in a way, it's dealt at an easy way, at ease. Of course, our expectations to be able to place it faster, but we have an advantage that perhaps some of our competitors do not have. We have an in-house captive market, which is the automotive division, an example of the first compost solution. The first was Randon Implementos, the second event, another interested client. I think we have an advantage of embedded, so it's easy for the Randon Implementos first client. I think this is the advantage of having the in-house client and relevant point for our new technology strategy. Of course, there are those things we have to visit, other markets, clients, and we are expanding. I will answering your last question. I was dealing with cosmetic industry because your solution was understood by the solution as important. It's a bit out of our big core, but now one doesn't have to limit itself. If there's opportunities, let's look, embrace, and it's a huge, big client. I cannot speak in details. We have a non-disclosure agreement signed, but these guys want to see how this technology can help, and this is walking forward. Did I answer a question? Yes, César, thank you. The captive demand is so demanding than perhaps the outside, you have to be very It forces you to be good in price and cost. Well, very good. Thank you, Victor, for the question. Following, we have Gabriel from Santander. Gabriel, please take the floor. Good morning. Thank you very much for the event. Just one thing. Regarding Randon Smart Telemetry Solutions, amongst other solution, I would like to know more, how do you think it will be the development of this long-term implementation, perhaps confirming the moment we are, it's going to be a deployment throughout timeline? How it's going to be? Just to have an idea. Thank you, Gabriel. Recalling the Randon Smart, launched it on the end of the year. We have in Jost products that are leasing. We have jointly Randon Smart coupled in this solution. César, feel free. Well, at first point I would like to place, of course, the strategy of Randon Smart has a focus on the marketplace, but we also understand the need to speed up this process when we started to think forward. You cannot bring a solution of leasing a product without considering some control, what's happening with them. Again, taking your answer as a link, we are a big client via ourselves, and we understand, as placed, today, you are in the market, but you have to have your product talking to your client, the end users. I'm not talking about the drivers. Our product helps the driver, the user, the end user, but it's also support for the management. It maybe I'm being very bold, but what's very valuable is not on the horse, is on the lorry. I have to understand the product is behaving this way, guaranteeing that it will perform correctly, there will not be a failure on the road where there is no access to maintenance. Having this type of intelligent aspect, I affirm that if you compare what you have in mechanic horses, you have a lot to go on, concerning availability of data, but it's vital for our business and for our clients, mainly. The objective is having the client taking the limit, taking the most of the product, of that resource he paid for. It's an asset, it's availability, we have to prevent. It's something that is very important if you have a product on the road. There's something else I'd like to add. There is a change happening in the industry, mainly what refers to big logistic companies. They have an environment that's more favorable for the product with a smart value. Let us say, the big logistic companies or shipping companies. They have to take care of their product, the mechanic horse and the truck. The trend is having a bigger split. It's not only the horse there all the time on the truck. It is much more expensive. The horse is much more expensive. The truck may be there, stop for discharge. Let us say, having the separation, the control that's done via big training associated to the mechanic horse. You see, concerning the trailer, we have two things here. The semi-trailers can be used, and this is their ability and more viable for the shipping companies to do the management of the product. It's happening now in the background, in a way that's not so rapid, but it's happening. Thank you, Sérgio. Before carrying on with Q&A, a question that's always placed from the part of the investors, maybe you're considering that there are many fronts where you can act and invest. What do you do, the placing of the capital? How do you do in terms of allocation? How do you do the leverage, what's the decision for the investment? How do you manage the investment versus the available capital? If you want to comment, it would be good, concerning the pricing of the capital. Thank you for your question. We always look for balance between financial discipline, that is the leverage, and carrying on with growths, organic growth and inorganic growth. Placing the capital is basing on criteria of prioritization. It's formed by our executive board and the other components, the COOs of all the verticals. It's important when you are taking decision in the board committee, you are in fact, considering what's better concerning prioritization for Randoncorp. We are taking the chance to do the management, and very well, not only with the capacity of doing everything simultaneously, but we give priority along the cycles. That's what we do with transparency, maintaining the financial discipline. Resource restraining is also showing efficiency. Of course, the projects, the first cut is the adherence to the strategic planners. As Sérgio has pointed out, our avenues we take in terms of growth, the first startup, the decision is the relation of these projects concerning our strategical planning. Unfortunately, we have just time for one question. We have another Q&A panel later on. We did not have chance. If you did not have chance now, next panel will be there for you. Araujo from Nacional Investimentos. Can you hear me well? Congratulations for the event. Very interesting, seeing that the strategic planning is done with mastery. Topic for you, when we consider Randoncorp as a group, is always a reference in innovation, in new products, the example that you've seen abroad, the question is concerning acceptance in the domestic market. Looking for new geographies, maybe it's a strategic reference as well. What's the perception abroad in mature markets? I would like to understand concerning implements, launching of the pre-molded, less expenses with metallic parts. How is it being accepted in the market abroad? If we can have a second question as well, concerning the seeds. We always hammered on that concerning the business model. Is it for sale or it is for a leasing model. I think that in the future, the role is very important to do this equation in a vaster way. Okay, good questions. Thank you for your presence. This is a challenge, accepting product. We are globally growing. It's not a market like the United States, it's not a domestic market. We have the challenges in the foreign market, but it's a window of opportunity. We have no prejudice. Thank you for the questions. In fact, the more we innovate and be disruptive, the better for the implementation and acceptance of the product. We always mention there are three phases: the adopters, awareness, it has to do with ESG, and these are the companies that are there, focused on ESG, and they adopt the solution. After that, business trait is clear. You see the adoption in mass adoption, it's hard. What we can say is that we try. As César has commented, the foundry, the nanoparticle, the challenge we have, you see, we have to have the same ways of the hub. Concerning in the United States, 85% of the trucks have aluminum, the market is just being transformed to reduce the size or the weight, sorry, to use aluminum. It's happening there in the United States. Aluminum is much more expensive than the traditional material. This is our focus, our objective. The strength that you do to convince the market, it's already the aluminum hub is already developed, it proves that it's done in this way with nanoparticle. It has a performance that is equivalent. It costs less, it will be easier to be accepted this way. The segments abroad, concerning the remote, they are very conservative in the United States. When you bring solutions that are very interesting, they may smile at you and say, "Okay, I'll buy 100 units. I'll test it for 2, 3 years. If the operational cost is correct, I will buy more." Before that, no. European people, they go deeper with new technology. They have another behavior. What we want to implement is finding ways and answers to have this time shorter. In 1 for instance, we learn that time or maturing time is disruptive for validation, et cetera. It's bigger from the part of our clients and what we have internally, according to our expectations. In the United States, we are just breaking paradigms. You mentioned the assembly. Okay, we have two or three samples of the semi-trailer with technology that is very well advanced according to the American standards. It's happening. They are trying. Maybe the necessity over the time, people will be more open to validity of this product. We started. It may not be 100, 200 units, but the 3 units were operating with modern stuff. We are progressing. New products, I will mention that in the next panel, concerning our modular platform, which has stages, a series of advantages. It's a break of paradigm. It's the way, an open way, to use all these material that are alternative, and that we eliminate any welding, they're protected. I don't know if I answered the question the way you expected, but it's always hard. The more you have disruptive process, the more you need protection for the market. There's a second question concerning this. It could be a vehicle for commercialization, let us say, in case of... Did you have internal information about this? I believe I have already answered. Okay. Thank Thank you, Carla. A round of applause to them, your participation. As Esteban has mentioned, we'll have more opportunities for Q&A in our next panel, okay? We have a small break, and we'll come back with more content to you. Thank you. We are back with the transmission of our Randoncorp 2023, and I will now start on the sequence with the questions. This is an interaction moment with you. Please prepare the mobile QR code on the screen, and pay attention. I will place the question, and you have around 30 seconds to answer them. We'll follow the results together. Let's start. Ready? At home, online people, I don't know if they are at home, but they are online. Let's take the participation of them as well. The first question is: How do you classify the present moment, the market moment, for the companies of capital good? How do you classify? We already have answers. It happens very quickly in the platform. The alternatives: positive with good perspective, positive with caution, neutral, negative with a bias of improving, or negative. Some time, Carol, let me know the right time to restart. How do you classify the present moment for the market or the capital good companies? We have more or less a result. 45%. Okay, it's going up and down. Classifying as positive with caution. Good. Next question. In your view, which of these growth avenues you consider the most important one for the future of the company? In your perception, which of these growth avenues you consider more important for the future of the company? Reposition or replacement, internationalization. I'm not seeing it well, but please, massive kind of ceremony that does not see well, why? Innovation, eco-friendly products, carbon footprint, digitals or financial service, or other alternatives, or none of them. We have the answer with more votes, 46% internationalization. Good. Third and last question of this round: To grow, it's necessary to invest. It means more leverage in terms of finance. Historically speaking, M&A's execution and capture of synergy, what's the level of leveraging for the next expansion cycle? Maintain the same level, close to 1.5 times the EBITDA over the last 12 months, 2 times the EBITDA of the last 12 months, 2.5 times the EBITDA of the last 12 months, up to 3 times or up to 3.5 times over the last 12 months of the EBITDA. Let's check. The answer is, the voted 151%, up to 2 times the EBITDA of the last 12 months. Right. Thank you for your participation. Carrying on with our event, we'll talk about the diversification pillars of Randoncorp. We invite, again, Sérgio Carvalho, CEO. It's not only you that does not see well. You see, I'm with you. I also don't. I'll talk a little bit about the diversification pillars and what's good concerning news. What I plan to talk, the content has been approached by César, so I'll skip that part. I'll go faster to other topics. Carolina, you don't have to tell me that I'm using most of the time already. We have many projects. We've talked about strategies. Many projects are happening. We've selected some of them, which are with more impact, more transformational to share with you. The way to see the slide is in the vertical way. You see our units, our business verticals, the assembly and the automobile companies, the auto parts, the financial services, digital services, and advanced technology area. In the horizontal, you have progress that are linked to products, market, and down there, associated to governance. In the case of the automobile companies and assembly, or we use the modular program as an example, Randon Smart has already been explained, and the control in the company and the new organization in the vertical of business, we are enthusiastic about it and want to share it with you. Concerning mobility, we will talk about Compass. The energy out of aspect and the expansion of the power housing. Abroad, with a new trademark, with the new spots, and the mobility, and the merger with other companies, Sérgio has already mentioned. What we will not talk about is the expansion of portfolio. We are not free to discuss it now. Internationalization of the company and the expansion concerning replacement, and also in the agri sector as part of our concerning auto parts. We will talk about allocation and Holding, that's our hold on bank, with services, as a service providers. Advanced technology, Sérgio has already mentioned, we will go rapidly concerning NIONE, we have around 40 projects for 2023. We will not mention that because it's not permitted yet, we also have the part of batteries that we can discuss. That's what we've planned for this section. Starting with the Vertical Montadora Vertical. Let's talk about our platform, the modular one, the program. If you prefer modular program, okay. New modular platform. High resistance steel, flexibility that creates several options. 7% less in terms of welding, in terms of the steel that's used on the road. Interface with a standardized suspension. This is a modular platform, our modular program we have presented of, right? It was mentioned the last time we've met. This program for us is transformational program because it reduces our manufacturing costs, and extremely important in this sense, and several optics. Instead of manufacturing a big product with lots of welding, difficult to handle, we're dealing with smaller components, easier for use to obtain productivity gain, and it improves for our clients TCO, a huge reduction of weight to business case for our clients. It's more attractive. We don't have to invest much on capability inspection. You have to expand on a current platform, just the painting of a huge set already assembled is very expensive. To expand capacity here, it is smaller environments in order to paint the parts, but the painting is just for an example. The cost and investment link is smaller regarding this type of concept, the smaller logistic costs. We manufacture the bases in some places of Brazil, and we send them to different places to receive the trailers and the body, let's say, of the product. Imagine the logistic cost of shipping these bases, even though if you have 2 or 3 stack, it's a very high cost. In this case, how the components and assemble is done close to the wish segment or end client. It brings more flexibility. It's just like a Lego game. This, the pieces, and you assemble differently, and therefore, it takes you to different options. This product is under production since the beginning of this year, but in a way, which is an embryo. We have important investments made this year and next year in order that we can have a production stable rhythm very good. We have units in Chile, Colombia, and we just launched another site with this new technology. You can see the weight reduction, which is a big advantage for our clients. If we have all the 30,000 national products, we manufacture more than this today, but on domestic market, this would be a reduction of 25,000 tons of steel. ... 1,250,000 diesel liters on the shipping of raw material, or 25,000 tons of load per client per trip. If each of the 30,000 products were using this, just to give an idea of the potential this has. I talked about flexibility, a chassis in different setups, this possibility of assembling and manage this flexibility is higher, but logistic, holding of components like this is easier to contain, less action to export, and this will make easier substantially one's life. The last product is a Ciera, 1,000 kilos light. It does not use welding 70%. We didn't eliminate 100%, but 70% it is. I'm showing this presentation, a huge advantage of this structure that enables the use of all those technologies or different materials that César mentioned here. If it was welded, it had to be steel with steel, here we can screw and place all the bars and materials, composites in this way, and we will show you a bit of this. We talked about Randon Smart, I think we shouldn't address further, both for fleet management and maintenance management. All this was quite well addressed here. In addition to all these advantages, we believe that the knowledge of the use will enable our engineers to project products more fit for use and information about load, use, roads, and so forth, in real time, in amount higher, not necessarily in real time, but higher amount of pieces of information, allowing us to engineer products that are fit for use for this type of application. As I mentioned, we are heading forth. We are not selling more Randon and more Smart before Joint and other clouds. Lack of semiconductors. Semiconductor lab is lacking. This is for the plan of 1st year of operation. This software is one that we disclosed at Fenatran, where a big manufacturer of European trucks that we assess is at the top of the list of being the best truck, saw our solution and said, "Your solution is quite superior than ours," which made us quite proud of what we are doing. All this will be commercialized through our automobile company, Vertical, and the project, as we showed. Now, going back to César's group, 4 or 5 years ago, we started this journey. In terms of market, we already mentioned a huge objective on vertical automobile companies going to USA with a bigger footprint. For all the reasons we addressed, strong currency, huge market, states there are 2 huge entities there that in the market, ACT and FTR, they both entities control. They follow, let's say, not 100%, and they are the porter containers, which follow the differently. Uniting both, we are talking about 400,000 semi-trailer per year. We reached miserable 5% of the market, 20,000 products. It's a huge market, but the adopting the strategy of crawling, walking, and then running, we have presented this during the last time we met. Our beginning was through the acquisition of Hercules and exports of platforms to the States, focused on niche segments where there's money and don't want to go after the volume, but we want to go, we want to go after the margin, or we did it. Becoming American, learning how to deal in this current country, the first phase. The second phase, we want to expand the portfolio of products, still focused on niche segments and for the phase in some years in the future, we want to enter the mainstream manufacturing, high volume vehicles. We need a distribution network to do so. We don't want to be part of the American market like the American companies do. Our wish is to place different technologies. We want to place a level of verticalization, which is bigger than what they are used to. They're very horizontal there. Also with more automation and modernization, more than manufacturing plants. We bought Hercules, which is going very well. Up to date, by the end of the Q1, 1,729 units, plus 1,250 export units. Our projects are very well. We will launch other products using the premises of Hercules and expand its premises also, that we are revamping, the operation is now going back to the tunnel time, Randon, 30, 40 years before. It's like this. We are investing substantially to improve this operation with Hercules, and we keep looking for the right opportunities in the aspect of merger and acquisition. This is our intention for this market. The last point regarding our automobile vertical has to do with governance. We changed one month our organizational structure of our vertical. Sandro Trentin, which is our CEO of this vertical, keeps with this position. He works intensely on this project, our organization, recall, guys, this is the mother company, 74 years of history, and we organize in a way which is very conventional. A group of engineering reporting to leadership or operations, likewise, commercial, likewise. All the control of P&L directly would go to the hands of Sandro Trentin, our CEO. The business no longer in 2017, 1 billion BRL, it's now a business, 4.5 billion BRL. This is the business in a market, highly complex, and we fit for use our organization analog way, what we have on our verticals, and it was stopping the paradigm for us repeatedly, because we have 74 years of history, always operating the same way. We believe we, through this new organization, where we have two responsible for the domestic market products, high volumes, and the other one focus more special products. We have another leader, P&L, for the foreign market, another one, P&L, focus on railways and trailers and other products. We also have the replenish or replacement part, which is more corporate. Paulo Gomes, he's the leader, and will keep on being responsible for replacement. With this, we give more attention for the market. We are closer to the market and speeding up this development and adoption of new technologies and high speed, which is very important in this type of segment. We there compete with those companies that have different protocols. They don't have our standards of governance. Our war is more difficult because we have standards of governance that most of our competitors don't need to comply with. We have to increase our speed and reaction for market scenarios, and we will reach this through this new organization we have disclosed, and it was very well received by the whole market. Now talking about our movements control vertical, which is mobility, several products. César has already explained better of compost materials, composite materials, first projects in production, other projects in the pipeline, and this is the first product through 65% reduction in weight, mass, and also now the next project to link the automobile, IVECO, he mentioned, so I will go briefly. This picture or layout has the purpose of giving you an idea of the potential of these new technologies linked to materials. This is a picture of our modular platform, where through it, we can place bars of this product in composite material, not composite materials that our competitor can do. If they do a platform like this, they can do the same. Our advantage is that our composite material has the durability and resistance with proportional prices and more accessible. That's what we managed to obtain with composite. Composite material, we have it for 30, 40 years or even more. César, help me here. For a very long time, innovation we brought is that we managed to create these materials that reduce strongly the weight, and we pellets very reduce the relation cost benefit we change. This was the biggest development we bring to the game. We can change the central beams, we can change the bars, composite material in a bumper, and the hub of roads, nanoparticles, the drum can nanoparticles, the springs, we have projects advanced in this sense. With all this, we managed to reduce in 44% the weight of this set. This is a huge advantage. Imagine the advantage we have with this, and we will obtain in the future. Also, these technologies, we can protect it, and this is our major objective here. A small film about composites. Sabe isso que você quer? It's without audio- Seu projeto mais audacioso, seu ideia, seu legado. innovation makes a difference. It's a small. makes a difference. It's a small. A inovação que você tem certeza que faria toda a diferença, para o mercado que você atua, para o mundo que você vive, para sua vida, para minha vida, para a vida do planeta. We did not do it. A gente tem certeza, é completamente possível. Um mundo realmente novo, é feito de ideias e a vontade de reinventar. For composites, using our scale economy, once we bought 18 tons of resins per year, we buy eight tons of glass fiber per year. We had a scale economy, the resultant for the material friction, some more ingredients resulted in us reaching all this performance of having big advantages at a price that extremely attractive for our markets. This was mentioned by before. This is just the beginning of the beginning of the beginning, a technology within the four or five big technologies linked to composite materials. We have one type of component within one technology only, we have several other advancements happening. What's happening is that of all big manufacturers of truck in Brazil, we have programs underway with all of them, except for one. This one has colligation with others, and we believe that when the colligated or associated will have a product, naturally, they will ride with us. The headquarters in Europe or United States of these companies, they are starting to see this type of technology, now, by IVECO, as an example, started here, now they want to take it over there. We believe that this technology will vastly develop for the headquarters of these companies. We launched our pads, energy, AE Energy, the first pad developed for EV or hybrid vehicles. This is uses quite different with the electrical EVs, all the electrical system to brake. Naturally, this braking system on the world is cold, will never reach those normal temperatures of operation because it's always cold. Cold pads, the brakes are not that good, this is a different material that allows more efficient brake, even if you're not using your brake pads on your wheels. These pads, there's no transmission making noise, engines making noise, the action of the brakes, of the suspension, it's an issue. This system, EH Energy, has anti-noise system, more efficient, and because this type of vehicle, the pads last more, it will rust. It's a trend, it exits manufacturing with our nano particle painting that increases durability. We did not think this will be any champion in sales, in terms of technology, represents a pioneerism, and this solution we will take it to other countries also. Now, Autho Experts for replacement is one of the strong points of the Fras-le. This is our platform, Autho Experts. We started as a catalog, e-catalog, as I mentioned with Eloisa during the coffee break, in fact. We passed through the list of products, is printed. Now we created the digital platform, Autho Experts for this purpose. This technology has developed, and today we launched the first project in Brazil, mechanize, where you went with the plates of your car, and it will say directly what part you should buy. This is especially important because many times during the year, no use to say that you are the owner of such a brand and model, year, and so forth. Sometimes the braking system changes during the year, so it's not a piece of information enough. You obviously want to buy the certain spare part, and the e-commerce is return of spare parts because you never buy the right one. Only the mechanics does it. Here you can identify exactly what's the spare part and the software, this app, developed also in order to say, "Where do you live?" You place your post address, you can find the spare part in your neighborhood where you are. You don't have to see where it is. From then on, it's a progress because the parts will go to your mechanics if you feel like subsequently. Autho Experts is a success case for us. You see the amount of hits that people refer of their use, it's fundamental, mainly for the mobility phase and every Randoncorp companies, they are using this program. Fras-le, Composite, and other companies that work with replacement, the market is getting on and growing, and the fleet is getting older, it's necessary to do the replacement, the commercial vehicles, et cetera. We have this experience, the first phase, it was a successful one. The first captation was in 2016. We had many business, these transactions are a success case as well, very good one. We recap, we will now follow this new journey. In U.K., for instance, technically speaking, is a geographical area that is different from the rest of Europe, continental Europe. The fleet is as big as the Brazilian one, almost us, and so in blue colors there, and we are sure that it will be another successful case. Our objective is carrying on with this expansion of our powerhouse, replacement powerhouse, mainly in abroad, in markets abroad, but we always consider opportunities domestically speaking. Mexico, our neighbors, also in Europe, I already mentioned Asia. We spent three years without going to China. It's not our priority now, but we'll go back there sometime. We're expanding concerning services, using the know-how that we have in powerhouse. We recreated this technology, this management, that we have a manual, and we want to present our initiatives via them. Governance: We have Fras-le Mobility. It has been developed, and it's similar to our background in Randoncorp. The company that works with friction material that has been modified over the years, grew very exponentially, and there was some confusion in the market. Fras-le, what does it mean? Is it friction material, or do you want to see Fras-le as a company that's the owner of Nakata, et cetera? We had the need to communicate better. That's why we established the Fras-le Mobility that represents the parent company, and every time you see a trademark with the word Fras-le, does not mean only friction. Fras-le Mobility is the parent company. All of them that you see on the screen, all over the world, they are part of this portfolio of Fras-le Mobility. What refers to product? The EST system, electric traction system, Sérgio has placed that, and... The system, as mentioned, it's advanced technology. If you compare to technologies shown last year in Germany, we are commercializing in Brazil. We export the product to Chile, mainly using this technology. We have projects associated to lorries and buses. We have the American Tracta that is a pull vehicle and is used in the restrained environment and closed environment. All the advantages of this system, they are already elaborated very well. Picture concerning our suspended cities. We launched it three months ago in Caxias for the manufacturing of the axle and the backings as well, sorry. Axles and backings. Activated system, which is ready to be composed with the new technology. We launched investment of BRL 60 million in this operation the same year. This was a gradual investment. Our intention is producing in mass up to 1,000 sets. The sets are traction system with the electric parts and the batteries in the system. We also have materials that are very innovative in our end series, has been placed here. The new alloys using nanotechnology in case of curb that we have, in this case, using aluminum in the hub, as they use in the U.S. market. Any other use involving that, the alloys, we can develop with better performance. We are ending our resources, and we'll present next year. Internationalization. Clearly, the U.S., we have projects for export starting from Brazil, and we are carrying the opportunities that will be in terms of auto parts in the U.S. We want to expand the agribusiness. We have already started around 35% or 40% of our revenue in a group that's linked to agribusiness. The specific focus on the agribusiness, let us say, auto business, where we want to be 10% concerning the parts in the agri segment, working with all the suppliers, New Holland, Goodyear, et cetera, JOST, and all the implementing companies. The replacing market, as you note in the first panel, we presented the drop of revenue, let us say that the auto parts grew and increased and expanded our portfolio. That's the objective in every vertical of business. Our service area, digital services. Originally, it's Banco Randon and the consortium. Now we have the insurance companies. Addiante is a company that you heard about in the launching process. DBS erver that was bought, acquired before the companies, domestically speaking, also services with new technologies, applied technologies, and several areas of action are considered. Going ahead, Addiante can be, as the name says, going forward. Brazil is growing, what refers to rental of heavy vehicles. If you compare to the U.S., the segments of server box, 30% of the U.S. market, the transactions are done via leasing or rental. Segments like containers, 95% of them are via leasing. Here, we have joint ventures with Gerdau and Açotubo, with agribusiness, server box, and we have a very strong service here. Our work is with part of the plan already prepared, the employees required. The expectation is in five years' time, this business will be very, very big. Last but not least, acknowledging the advanced technology, the vertical one, electronics, embedded electronics, intelligent materials in 40 projects for this year, approximately, we don't have how to approach it now, but let us say for sure, a very important point, as César has mentioned, 75 projects associated to 18 different technologies, segments that we cannot share details with you now, but on the graph, you see the presence and promptness, and some of these business are commercialized already. Some of them are under production, some are crossing this line. The projects are advancing, and anytime we talk about it, the number increases. It's a potential increase, and we are very sure that this growth will happen, and it will be a giant differentiation, a mammoth business for us. My last slide, just to summarize, we talked about our future view, the planning, and execution. What we want to pass as a message to you is that this experience, there is a strategic plan, and we know where we are heading to, and we have been very happy to say that the execution of this plan is okay. We are delivering everything we promised. Very important projects, internationally speaking, in a company focused on North America, all the verticals, the industrial verticals of business, not only the automobile companies, not only the mobility, we have all the news that we are implementing real reposition, replacing of parts, that's very important, that we've seen in your comments. Diversification is also very important. We want to carry on with this growth. We knew that 2003 would be more difficult. Well, it was clear 4 years ago that this year would not be easy, what would happen. It was part of our plan. Again, we are sitting in the quiet concerning what we supply to you, innovation and competition, and also trust in our company. Thank you very much for your attention. I pass the floor to Carla. Thank you, Sérgio. Stay with us, because we have a sequence now concerning interaction with the audience. I ask you to use the mobile, the QR code, and also on your badge. What's the first question? If I do not see, Sérgio helps me reading it. First question here. With the groups of revenues and margin, what's below this historic media, this indication and the valuation of the paper? Let's see. The role. Alternatives for that. Alternatives for Alternatives for that. Depending on the market, the domestic market, besides with innovation, level of governance, improvement of the company, other market, Brazil risk, or the alternatives. 30 seconds for you to answer. Now, what are the factors that you consider that may impede the innovation of the role of the company? What's the action here? I think that you have the answers, Randoncorp is associated to cyclical sectors. Concerning stock, over the last few years, we have practiced recommended concerning governance. In your opinion, what should be the prioritize in terms of corporate governance? What's the priority, the alternative? Only common shares expand the committee concerning the assistant to the administration in terms of advice, tag along of 100% accessing a new market. Now, we have 85% access a new market. I thank you for your participation, and we now start with a new moment, Q&A. I invite Paulo, César, and Esteban to take the floor again. Reinforcing that you can place your questions via the formula that you have, the QR code, with the participation of who is online and who is here with you using your budget. Esteban takes the floor again. Thank you, Carla. Now, we regain with Marcelo Mota, that was waiting in the last section. Marcelo, please place your question. Good morning, everyone. Two questions. The first about automation that you commented in the first part of the event. I believe that you have two or three plants in this robotics. Understand if you have any internal study, what would be the potential of in other plants? In terms of investment, what would be the potential of economy, of cost? A question that is related to the capital structures, and the first question that you had is research. It could be a set of this press and the Randoncorp. Today, you have several segments, and you, do you think that in long term, you can have any spin-off just to capture for bigger companies that will go faster, let us say, in this view, that most of people have that having been a cycle company? Let's see a Randoncorp with some spin-off of the initiatives, okay? Thank you, Mota. Fantastic, the points you addressed. César, the first part of automation, you answered, then Paulo will answer the second part of the question. Talking about automation, we have some, let's say, fixed rules. We have been working when we have entry, new plants with new products concept. I wouldn't say it's not full automated, but a high-level automation. If you visit Smart Composites, it is already automated operation. The new operation that we set up some months ago, perhaps more than 1 year, here in Campinas, Iospio. As Sérgio mentioned, it is born fully automated, therefore, we have worked in this direction. We give priority to projects, yes, we have this need, many times connected to the demand of that unit, sometimes in expectation of fast improvement of the operational costs. We have a team that. before, let's see. Before the process of building automation processes, which is 5, 6 engineers that virtualize our plants. We are using this type of tool in a pre-work to make decisions of where we have better gains and direct earmark our energy to speed up this automation process. Thank you, César. Paulo. Thank you for the question. I think this is a very pertinent question. How is our mindset regarding our debate? Today, we have two companies which are listed. Last year, we to do a follow on the Fras-le, we were challenging ourselves. It was the value world of Fras-le Momentum, or thinking of a different structure within the same entity. At that time, we thought these are distinct avenues of growth business. Perhaps to capture more value, different shareholders, we decided to do the follow own and uphold both companies listed. Another important example is Addiante, an investment where we bought, it was built and born in a different format, with two partners, each one with a stake of 50%. We toppled the paradigm, in our way of opinion. This makes possible that in the future, we can think about bringing more partners. Now, looking hand on the trailers and auto parts, the beauty of the business is in its verticalization. Our mindset is related to this verticalization. We, at least we can say today, in the mid, middle term, we see no possibilities of changing this design, bearing in mind what we've built throughout the 74 years and the growth avenues per se. We analyze each case and future projects. NIONE is one of them. We built there in a format that even to divide future risks, we could perhaps, in specific projects, bring other partners. We cannot generalize what we do. We look at the portfolio in each one of the projects. Thank you, Paulo. Mota, thank you for the question. The next question is by Felipe Lianza. Please take the floor, Felipe. Good morning. Congratulations for the event. My question is, you presented the strategies of the company for North America. How do you search this for the region, bearing by the near shore in Mexico, and even when done, as you mentioned, the operation is going to Mexico. Perhaps it's a feasible operation for this region because it's cheaper and closer than USA. Perfect. You mentioned a bit, we have an operation in Mexico, and Suspensys recently moved to Querétaro, which is a site more opportune, in our belief. Sérgio, would you like to address if Mexico is part of the expansion strategy of USA? What could we do in that region to optimize or speed up the penetration to the American market? No doubt, Mexico is part of our strategy. Suspensys, as mentioned, is there. Fras-le Mobility is there also. We have Mexico in its radar. We would rather, as Randoncorp, to focus more in USA. The reality, your three geographies composing North America has changed. We had NAFTA, the Free Trade Agreement, that become USMCA, and with this new agreement, we lost several advantages to manufacture in Mexico. Labor must have at least $16 per hour. Mexico, you went there because labor was more interesting there. This does no longer exist, there's a feeling by American manufacturing in USA, very strong, not against Mexico, but especially because of China. This movement of buy American manufacture there, it's important during the talks and commercial talks in North America. We do believe that being there, manufacturing there and being and say, "We are made in America," will bring us an addition benefit to our companies, even though that several components, depending on the product we are referring to, are those coming from Brazil. We don't have that sort of red rejection that a Chinese product has. The China subject is quite important because it's one of the few and only subject that can bring the liberals and conservative parties together, and they go hand in hand and say, "We are agree with this." This is so rare, this view that we must have a market more strong and going back to investing in strategical projects in that geography, in semiconductors, in Made in USA, to remove that fear from Taiwan and control of Chinese, is very strong over there. It's a long answer. Mexico is important for us. We have more plans for Mexico, the biggest impact on our side will be more through the USA. Perfect. Thank you, Serge. We have one more question by Luiz Pessanha. Please, Luiz. Thank you. Good morning. Two questions. The first one, I would like you to address further the dynamics of truck prices influencing the sale of Randon Implementos. We had the issue of shift of technology, strong increase in prices. I would like to have a knowledge of your side regarding what can happen during the next months regarding truck prices and the impact, perhaps, by selling implements. Second question, if you could please address further the challenges you are facing regarding acquisitions recently made. I imagine that some challenges will prevent a fast growth as you would wish to implement. What are the main challenges and perhaps opportunities also? Pessanha, thank you. I think both questions are addressed to you. Very important, the question by Luiz Pessanha, because Valor published today a news of Scania, launched a new line of products, where the cost of the prices was not as high as the previous line that launched in Finatra, had an addition of 25% on its price. This new line, just 15%. This is a flag regarding this question. Well, I would say that's the way of thinking. We had the event of Euro 6. We do believe that much of the manufacturers of trucks were too eager. The addition in prices was huge. Two of these manufacturers held their horses, let's say. They started the year with their portfolios and their wallets filled. The market shows, I'm not going to pay that much, I will wait. I have these two sources, these trucks are more accessible, and this process, this normalization, is already happening in a clear way. The way each one does its approaches, changes, varies. One said, I could reduce my costs, and I can offer you a truck at a lower price. I can change any changes and reduce costs, but the point there, the key one, is that there is a normalization of fit for use of prices, and this is happening, and this is very good for our segment. The second question was regarding challenges, regarding M&A's integration, the main challenges we have faced. Well, I would say we have five business verticals at different levels of maturity regarding a M&A transaction. Our movement control, mobility, it started first and then a higher amount, I would say it has a domain on this process, either being the negotiation process, defining prices, the process of developing synergies, because in our book, without it, we don't do the transaction. It's not the value of closing or multiple of it's the post-closing that counts, and we work strongly on this. The integration per se, no use buying something beautiful and say, now I'm the one playing the cards here, because with this, you lose talents and big advantages will be lost that these companies had. Example, strongly with Nakata. We looked Nakata and say, they deal with the market in an exceptional way. It's a huge name, and they have a relationship with the vendors based, not client, relationship, but partnership relation. They have a marketing which is very strong. We must learn what these guys are doing, in addition to the words and presentations in PowerPoint, truly learning things. What we did, we will not change several things. During this first year, we'll keep on like this, acting, and then we will harmonize, understanding better, and then when we have learned what they truly do good, these good things we brought for the other part of us. Likewise, the industrial side, Nakata was not that good. We got the expertise we had on hand on Corp and on Fras-le Mobility, and we took this to the manufacturing operation of dumpers. The integration process is very important, and you have several elements. We, our wish sometimes to say, let's take our people of ethics and think about normally, we do this and procurement, buy, so forth. All this had to be skilled in a speed where the acquired company can acquire, and it will not cause disruption. The other units are evolving very well. They're going well, good example, on unit that did not have this experience of acquisition, which is a Vertical Montadora. We acquired Hercules in U.S.A., very disruptive for us, and it's going fantastically well. Tomorrow, coincidentally, on this subject, we have a meeting with our board of administration, where we have do a recap of 19 transactions we did during the last years, but the history over there, it's very positive. We acquire and invest approximately BRL 1.5 billion during these acquisitions, and the recurrent revenues, BRL 2.7 billion, approximately, and 98% with what we did, is going so well. As a group, we are well, optimizing this process that's so critical. As for the international side, which is the concern, is regarding the awareness that works in Brazil, not necessarily will work well in other countries. You must have this minimum of competence of looking and say: Well, my product, the way of management here is fantastic, but over there, it does not work. If you think it's going to get everything from here and place it over there, it's quite childish, in spite of many doing the same mistake, I'm sorry, I just quoted. We are going very well. We have it's a concern, but we have several transactions, many, in fact, and we are going very well within this sphere. I think the track record of integration is one of our strong points and important point of our group strategy. Before moving on, I must touch a subject that many of you that came to me and mentioned during the coffee break. It's a question of interaction, which is regarding the new market. Some asked that if this question is not made, please pose it, because until I'm fulfilling what they asked. Paulo, how do we see the new market possibilities of integration? Is it hot? Is it cold? Thank you very much for the question. This is a question which we don't have any concern, and actually, we have to be crystal clear. We always recall, we have a commitment to evolve in our governance, and this is evidenced by our compliance to CVM's 506. Today, we have a higher compliance than those companies that are listed in the market. There is no plan in our side in the short and medium term to migrate for the new market, but we have this commitment of step by step, keep evolving with our governance. Therefore, today, we have Fras-le with only one class of shares, and so particularly, if there's a migration, perhaps we would be a bit closer in the case of Fras-le than Randoncorp. As a first stage, Fras-le, then Randoncorp. These things can change because of several factors. Our commitment with governance, evolvement, ongoing evolvement is up and kept. Thank you, Paulo. Regardless of the category of new market or not, we are safe on knowing investment, on governance of the company, transparency. Now, question by Igor Araujo. Briefly on my side, one for Paulo, another one for Sérgio. No planning of the next five, six years, how do you see high capital turnover? You know we know Randoncorp became a locator of capital, you mentioned this. How are you seeing in terms of%, this for each one of the box you have today? I say the second question. Thank you, Igor. Paulo, you could start. Well, we do an analysis of priority. We could not touch all the moons, all the projects simultaneous. When we talk about organic investments, we do an allocation based on the generation of cash for that vertical. We decide by commitment of an yearly part of EBITDA projected. Several moments, there are certain verticals that we are seeing in the auto parts and acquisitions we made of founding companies that require more capital, especially because they want to be placed within the same standard of automation, productivity, and safety, which is our motto. When we are talking about inorganic investments, we have projects in all verticals, and exactly, we hope within this cycle to grow in all verticals, perhaps in some of them. This financial services vertical, we're talking about bank consortia, and we saw ADD or Addiante. Perhaps we have to bring partners to share risks and be able to grow with a good allocation of capital. We have projects in all verticals, and we will keep on growing, analyzing. ... cash generation of each one, and whom earmarking part of this cash generation for organic investments and inorganic investment. Of course, Fras-le, it's at a different momentum because it is a follow-on, so it has a important, substantial cash amount, and it's important to keep on the journey of growth. That's why we have to treat it a bit separately. The second question complements the same as question in terms of M&A, what you see the strategy, what you see in the new technology, the new markets to be accessed? Obviously, there is a question in terms of new technologies or new markets, what is missing to add to the portfolio? Thank you. I think that in terms of technology, César and Sérgio talking about markets. We've already explained the focus is in the North American market for more mature, now technology. It's difficult to foresee what's going to be necessary in terms of technology. We have our verticals, our directions to explore more technology. I don't want to repeat myself. The concepts of mobility will change, the proportion will change. I think that some spoiler presented here was talking about electric mobility. It's not only the engine and battery, there are other concepts involved. Generation of energy, that's not in this new matrix. We are researching a lot in the segment. It's not only repeating and insisting, but it's viewing the material as something key. We're investing on that. As Sérgio has placed, the electronics is necessary. It's not our main proportion. It does not have the same importance of the materials, but it's also important. I do not see any other technology that is as big as outside this umbrella. I think that this umbrella is big, but it's on purpose because that's what we have to go. Thank you. Sérgio, do you want to complement about markets? Okay, it's a comment. It's not about technology only, it's a cooperation. We are crossing a period in an environment that is transforming very quickly, and, you do investments in your platforms, product platforms that would last 20, 30 years. Now, it's 5, 6 years, and that's more and more with a shorter life, and you have to invest more, and you have to learn with that, cooperate more. If you are in lack with certain technology, instead of wanting to build it up at home domestically, look for people that can supply your necessity as long as they come and crop up. Looking for more cooperation is a theme that's so important. We have to cooperate more. Perfect. Thank you, Sérgio. Last question, Lucas Melder, that is online. Lucas, thank you for being here with us. Sérgio, we have the possibility of exploring the importance of replacing of our portfolio, as it is giving revenue in the movement control, what the turnover movement. Using the vertical in the automobile companies and spare parts as well. What's the ways of the revenue in these verticals? Lucas, thank you for your question. The objective is the growth of the replacement in our Vertical Montadora. The growth is for auto parts as well, the objective, the percentage, it's a metric that is very difficult to foresee because we will not put aside the opportunity to conquer new business that are different as long as we have success with them. We will not tell people, "Don't quote about that. Don't look for that, because it's more domestic, it's more the auto part, it's more the automobile company." Let us say, metric concern, the percentage in the international market, which are focused on, we want to growth there. If there is a big business in Brazil, let us say, unless a company that is in Brazil, it's automobile company that's big, of course, we will try to gain that also. Of course, it will interfere with the metrics that we're having abroad. We have big companies in Brazil working with us, so it's difficult to pinpoint what's the percentage, because it's very dynamic, and the first objective is growing, then growing in a robust way, so bold. Every opportunity, if it's profitable, if it's a good harbor and safe harbors, the expectation is there to grow. Concerning mobility, for instance, the control of movements. Each product that we sell to a company, we sell plates for replacement as well. It's not that you don't like the segment. We do like the segment of the automobile companies, but product portfolio that we have takes us to a percent, that's percentage that is bigger when we have replacements. Of course, in auto parts, Randoncorp will not be with 80% of replacement, but we want to get 20%. Our Vertical Montadora, for instance, our target is having the present 10% and reach the 15% or 20%. Every unit has this objective of growth. Perfect, Sérgio, clear to us. I thank you all for the questions. Reinforcing that those that were not answered, we can use the RI over the week to answer, I pass on to Carla again. Thank you for the participation of each of you. A round of applause to everyone. Thank you very much to the persons that placed the questions and took part online way. Carrying on, I will invite to the floor, Lucy Sousa, Executive President of ABIMEC Brasil, for her message. A round of applause to her. Good afternoon, Associated of ABIMEC Brasil, analysts, all the investment professionals. It's a pleasure being here with Randoncorp in Caxias. I'm always happy to be with the meeting here with you, presential and on online ones, hybrid, I would like to celebrate this re-meeting, presential one, delivering the activities here, 23 years of activity of interrupt meetings with our association. Sérgio, I deliver it to you and representing your team, the time of partnership that we have, I thank you very much for it. Thank you. I reaffirm that you have to please use the form to assess and do the assessment of our meeting with lots of content. Of course, you're being in participation in the best of the years. This form that you answer is very important to contribute to that. Thank you. Let's take a photo together. Thank you. Thank you, Lu, for your participation and presence, Lucy. Sérgio, stay with us, please. Your final message, please. The floor is yours. Thank you very much for your participation here. Everybody that is online as well, those that are here presentially, we thank you all. We are at your service to answer all the questions as well, and carry on with our dialogue. I hope that you are leaving the place with the idea that we have a planned journey for the future, and we are executing what we had and programmed and wanted to do in the past and are performing now. This future journey is key, is positive, is cool. Everybody, as analysts or investors, I want to do that with you. Thank you very much, and have a good afternoon, all of you. Thank you very much, Sérgio. Thank you for your participation, each of you. Okay, fulfilled mission, I thank the participation of everybody here for being here, spending this morning with us, people that are online, that followed this program. We also thank Caxias for receiving us here with all the support and ABIMEC Brasil. Now I invite you all to take part in the research that we have. You have a form. Please fulfill before leaving the place and deliver that to the receptionist. It's very important to know your feedback in order to have a better program in the future. Online, you're receiving via email. Bear in mind that our event has been recorded. It's in Portuguese and in English, and this recording is available at the website, Relation with Investors, the randoncorp.com, in our YouTube channel as well. We close our Randoncorp 2023. It was a big pleasure being with you. See you next time. Thank you.