...So, good afternoon, everyone. Welcome to Randoncorp Day 2024. This event is happening in a hybrid format with both in-person attendance here at B3 and online with, for those with us at the Randoncorp channel, in YouTube. And also we have simultaneous translation into English and sign interpretation. I'm Carla Melita, a master of ceremony. It's a pleasure to be here in this event for the second year in a row. And in order for Randoncorp keep on building tomorrow, being connected with its investors and capital market, it's very important. During this afternoon, our executives will present the path of the company change and showing how Randoncorp from a company focused on the semi-trailer to a full ecosystem as auto solutions. Also, we will detail the potential markets of the company, its journey of efficiency and automation, and how it has generated value in its performance. So in our agenda of this day, we will have four panels with the following subjects: our change, our potential for the market, innovation and efficient manufacturing, and value generation of our company. The panels will be presented by the CEO of Randoncorp, Sérgio Carvalho, and Vertical Autopeças, Ricardo Escoboza, CTIO, César Augusto Ferreira, CFO and IR, Paulo Prignolato. And Daniel Randon, Chairman, will do a closing and deliver the final message. Our event, we have two sections of Q&A that will be moderated by the RI and Finance Director, Estevam de Paula, and by Davi Bacichetti. In order to attend the Q&A section, it's something very simple. For those here in person, just access the QR code that's in your badge on the opposite the face of it, and pose your questions. I informed at the beginning about the Wi-Fi. You can log in Arena B3 and record very easily and use the network and those through the YouTube. Participate using the QR code, submitting your question by written. We hope you all participate. Now, I will inform that our event is being recorded and made available in Randoncorp YouTube channel and RI's website, ri.randoncorp.com. For the official opening of our event, I invite to the stage the Director of Investors, Financial Director, Estevam, and a round of applause for this director. So the stage is yours. Thank you, Carla, and those with us. It's a pleasure to having you here presential or those remotely with us. Thank you very much for being with us, and I would like to use this as opportunity for your solidarity through messages or donations to our foundation, we from the south of Brazil, facing this tragedy. Briefly, what has caught my attention, I always answer emails and questions by investors asking about the impact about an event in our operations. But last Thursday, Friday, after the rainfall, no questions were in this direction. The only one was to know how we were, our family members, and we were so touched, and I would like to thank you all for this. Now, following this line, by the end of the event, Daniel will present a bit of our act, actions and initiatives in city for the tragedy. But an initiative and action that we feel today, it's regarding the gifts. We won't have gifts in this event. It would make no sense to earmark resources for gifts when people need more. So the budget for gifts was earmarked for societies and communities needing this help now. Now, to start this event, I invite the APIMEC, Ricardo Martins, to deliver the assiduity stamp. Ricardo, thank you very much. So welcome, all. I wanted to be brief and straightforward. 24-year stamp with the diversified audience, aligned with the capital market, a need for information, makes all sense, and it's not any company that makes this available. It's board, directors, and making available for all of you here. So 24 years is very good for us, the market, and an example for all companies that are in the market. So thank you very much. Thank you, the partnership of APIMEC for this long-term partnerships, 24 years, and we are hoping for many more. So thank you, Ricardo. Now, starting our event, please, could you help me with the disclaimer?... PowerPoint. You know, you know very well our disclaimer. Pieces of information we will share with you today are based in assumption scenario that administration draws up, and these assumptions and scenarios are subject to risks and uncertainties. This does not change, especially in Brazil, an ongoing situation of dealing with these risks and uncertainties. But there are two things that don't change in our company. First is transparency with the market. That's why we are here at any time, good or bad. And the second is our concern, commitment with value generation, with our shareholders, community, society. And this is precisely what we will present and share with you during these three hours. The business transformation that we left a semi-trailer company for a multinational company, and Sérgio will show us this history. But beyond this, how did we do this change? Through a sound, sturdy growth, based in three pillars: diversification, all the resilience that comes with diversification and innovation, and now with the last purpose of truly generating value for shareholders. This we'll do in a practical way, bringing new data from the market, because you need figures in your spreadsheets, transforming qualitative data in quantitative data and information. So we have this concern today of helping you to model this in your spreadsheet. So showing you the potential of the market that the company has ahead in a way that you can translate it in your reports, figures, and investment decisions. With no further ado, I pass the floor to Carla, so we can start the panel. So thank you very much, and enjoy your event. Thank you for the opening, Estevam. So now we will start the first panel of our afternoon to talk about the Randon changes by the company. I invite here to our stage, CEO of the company, Sérgio Carvalho. He's the CEO of the company. Round of applause as he joins us on stage. So good afternoon. Welcome, those with us in presence and those with us remotely, in order that we can dialogue regarding about what we have done. Last year, we were here, and our IR team gave me five hours in a row, talking. Today, it's a bit less, just one hour, something similar with this. So we will be able to interact with more people and recognize the strength in our management team. The first topic is this one in the PowerPoint. Who will take care of the slides for me? So it's me. So... The first point is to talk a bit about our change. Currently, this year, we celebrate 75 years of history. Just to talk about our history, for certainly no jokes, I would need at least 5 hours. But what we want to share with you, a rich history made by, in a simple way, beginning of the company, incorporated, established by Mr. Raul, entrepreneurship, semi-tow, basic processes, business focus on a regional area in Brazil, especially the south, and this phase existed for several decades. At a certain moment during the 1980s, the company changed the phase where it started a process regarding expansion, especially through joint ventures, and the Master was one of the most important joint ventures with a North American company, where we started to grow in terms of process, management, industrial processes, and brought a higher level of knowledge for our company, more professionalization, expansion of products portfolio, and the company started to open to be listed. And then in the current phase, contemporaneous during the last 10, 8 years, we changed again the profile. Now, we are growing in a faster pace, investing in new technologies and developing, as you will be seeing, technologies of avant-garde, especially for most developed countries in the world, speeding up this process of internationalization of its company. Similarly, improved resilience, removing risk, to say so, from our businesses. To stress this third phase, one of the reasons, main one, by the way, we adopted the Randoncorp also. This is what we have here. In a summarized way, we are one of the biggest players in the Brazilian automotive segments, leader in the main segments of business that we are present. Strong brands, recognized brands, pioneering development of technologies for the future of mobility. We know technology, especially disruptive ones, take more time to materialize in terms of the business... synergies captured. We always joke our surname should be Synergy, and we will address more this topic. Global presence in more than 120 countries, and we are a Brazilian multinational company expanding its global footprint. Now, we act in all these market segments, i.e., trucks, semi-trailers, railway, motors, agricultural equipment, construction equipment, and you can see through the chart the performance of each one of the the units, or spare parts, trucks, buses, agricultural equipment, construction equipment, and so forth. You can have a general overview of the diversity of the segment, which is part of our business plan also. We are one of the biggest players in the Brazilian automotive market. 100% of the trucks in the country have at least one of these components, and there are those that have BRL 50,000 of Randoncorp components, based on brand, size. But just for you to have an idea, there's no truck in Brazil without one piece from Randoncorp. Eighth biggest manufacturer of semi-trailer worldwide, working basically below the equator hemisphere, where the market is just 5% of the global market. We are the first player in spare parts in Brazil. We talked a lot about this during the last events as Fras-le or Randoncorp, but we transformed ourselves, and we can say today, we have transformed ourselves through the implementation of a strategic plan in the biggest spare parts in Brazil. Our global footprint, 32 industrial complexes, there are 13 distribution centers, 4 units are assembled, especially in Africa, 3 centers of tech innovations, 7 financial digital services, and 8 commercial offices. So our biggest concentration, you can see through the Americas. Obviously, South America is of a stronger concentration, but especially, we have stake in Africa, UK, Germany, China, and India. Now, we have the leadership position of our main segments where we are present. We, through our autoparts, Suspensys and Suspensys, Master, JOST, Castertech, we identified as autoparts, but our Fras-le mobility is also spare parts, has this recognition and performance. I will call your attention for the prize recently awarded regarding IATF, which is linked to quality. All companies obtain this prize. Why so relevant? Because being able to have 10 PPM, which is quality indicator, this is a worldwide indicator, so this is very good for world standards. And all companies that participate receive this prize. Not one or two, all of them. This is the evidence of the level of development we have inside our companies. The strength of our brands, Randon brand, focused on semi, semi-tow, pioneer of tech avant-garde. We carry a value of higher price. This is the result of strength of our company. Most remembered, the connected solutions to the mega trends of the market. Our center's mobility, so control area of movements, that strong performance, 90% of it, it's for spare parts and brands, and spare parts has a strong, huge importance. So here we are, house of brands. We are a powerhouse of spare parts, we are iconic brands, and lots of synergy through distribution channels. Our autoparts, we carry a business card, stronger, strong, and good performance. We're generating long-term agreements for huge size, up to the point that we have a business of Mercedes for front axles I think we did the illusion of this, and this was confidential at the time, but we think we mentioned we are working a big... We think we did in the Randoncorp 10 years, BRL 700 million per year earlier, BRL 7 billion, and Ricardo will address further. But one of the reasons we won this bidding versus a multinational from North America was due to the trust they have in our name. This said by them, the fact that they trust more the work we are doing. So we won this bidding for the shafts, and the brand strength of our brands have a key role, the pioneering development of technologies. For mobility, we have our composites with materials that composite and smart, entering different national trucks. Our e-Sys system, we will talk further, batteries, engines, electrical traction shafts. We will expand on this. Our modular semi-tow certainly, in its due time, will revolutionize our segment, Randon Smart, a system for telemetry, but not telemetry's normal system. It's extremely rich in sensing, and this difference, the fact that we have the sensing, it's something that will bring value generation a huge way. Nanotechnology, or Randon Solar, with energy that's obtained through photovoltaic- ... And we have autonomous vehicles we disclose in November. You were there in the south with us, and we were showing in different events in the future. And we also and embedded electronics with systems ABS, that's occupy all products out there, and several products and manufacturers of vehicles in the market also. So this development of technology will be critical for the future of our company. Continued capture of synergy, cross-selling, corporate purchase, logistics, product development, automation, and manufacturing plant efficiency in general. This is to show you some of the synergy, the interconnectivity that we have between our companies. When the dots here, you can see the vertical companies. We have the car assembler, we have auto parts, we have a movement control, advanced technology and financial services, which is supported by our cooperative areas, finance, culture and people, IT, information security, legal, tax, investor relation, all our corporate areas that support those companies. But looking to the foreign market, our car manufacturer supplies 100% of the domestic market, and our auto parts, it's 80% to the external market. We have movement control, 95%. So we are doing what many call, which is a spaghetti soup, because this is a relation that is strong in all of these areas. We have also advanced technology that is interrelated to all of this. I know this is a busy slide, it is complicated to see, but it's a way to show you how this model is so important to us, because these synergies are the synergies that we built for our units. We have this corporate performance that supports the entire group. This transformation and growth are supported in our expansion. I will provide you some numbers now. We look here at 2009, we had 2017, 2023. Now we have in 2023, we have 70 companies. We have 32 operations. Our share in capital goods is now 65%. We have reduced it. Now, we have some concerns about the cycling events, but we have some operations that are based on consumer goods, and we intend to grow and provide stability to our revenues. We have 48,000 shareholders, and we wish to have 9,000 in the past. We have a market cap of BRL 4.1 billion, and now we currently have 15,000 employees. We are now near 16,000, and in 2017, we had 7,000. So this clearly shows the standard trend of growth of our company. We have a portfolio of company with 22 families of product compared to what we had in 2009, that were 9 only. So these synergies, as I mentioned, they are powered and connected to our core business, to our business model, and focused on these four areas that I can show you here on the screen. Internationalization, and our purpose is to get 30% of our revenues in international markets with a strong currency development—developed economies, and this will provide us with more robustness in our operations. And we also have a spare parts. As we said in many events, we have a resilience, we have the strength of our brands. So we have also a strong cash, optimization of distribution channels. So we have the means in order to distribute this product, so this is a more natural development for our company. And we also have a recurrent demand. Another item is innovation in services. So disruptive business efficiency, sustainability, expansion of our manufacturing capacity, expansion of geographies, and this we will provide to you more in detail next today. But one other thing that I wanna talk to you is how we are allocating our capital in profitable businesses. Where you are investing your money? We will talk about this now. This cycle between 2019, 2023, we invested BRL 2.5 billion. And how was this investment broken down? The CapEx was BRL 1.5 billion in this cycle that I mentioned, 2019 to 2023. And you can see that we have auto parts that is together with a movement control. And you remind that some years ago, we used to combine these two businesses. They are technically auto parts. They received 65% of our capital in terms of CapEx. And approximately 30% for our car manufacturer, and the remaining for digital services and financial services, and also advanced technology. I have the timer in the middle of my screen. I am having trouble to see my slides. So if you can move the timer, it would be helpful for me. Thank you very much. When we talk about M&A, we have, we have, BRL 1.5 billion for CapEx, and now we have BRL 1 billion for M&A. We had many acquisitions in 2017 and 2018, but from 2019 until now, we put 17% of this capital between auto parts and our movement control, and 29% to our car manufacturer, and the remaining to financial services and advanced technology. So I hope that we are being more transparent of what have been doing over the past few years. And this is, we have, 2.5 billion of investment, and this we have carried approximately 16.4% of EBITDA. For digital and financial services had an average EBITDA of 22%, investing BRL 11 million, and our financial services had the lower EBITDA. The orange part represents an investment in M&A, and blue represents the CapEx. You can see on the left side, the evolution in ROIC, in the period from 12.3% to 14.1% now in 2023. We have an excellent track record, which is very respectful. This is our only. These are only a few examples that I'm providing you. We have the transaction of a Castertech Usinagem. This is a small, and we have tripled the EBITDA of this transaction. This is for digital and financial services. We have. So we took from to two point twelve point five million to 16.1% for this area. In February last year, we were able to improve the EBITDA 1.6x. For Castertech, we were able to increase the EBITDA 8.2%, and Fremax was 2.9x growth. For Nakata, we were able to increase the EBITDA 3.0x. This is an incredible result for us. I could also mention many other transactions that we have carried out with the same setup. We developed this expertise, and we were able to identify good businesses, create value to our shareholders, and I hope that you agree with this strategy. We have become a more complete player in these ecosystems. We have car parts, we have movement control, we have a car manufacturer. Within this circle here, you can see these movements that are intended for internationalization or gaining of capacity, or focused on investment for the future, such as innovation, services, and business expansion. On the top part, you can see we have technology, innovation, our movements that we have carried out over the past few years. So our results show that we are on the right path, following our strategic plan, and we are quantifying to you a little bit here, 2009, 2017 and 2023. So you can see the net revenues, BRL 2.5 billion-BRL 2.9 billion, 2017, BRL 10 billion in 2023, which is an increase of 24.4%. We have the EBITDA. We increased from BRL 300 million to BRL 1.5 billion, which is 38% increase. We had net profits from BRL 139 to BRL 381, so it's 41.9% increase. We also had a leverage from 0.61 to 1.03. We also have dividends from 39 to 0.4, and now we pay BRL 162 in 2023. This is the distribution of our revenues. As part of this transformation, you can also see here 2019, 2023, in the first quarter of this year. So in blue, you can see our car manufacturer. The black one, you can see auto parts, heavy auto parts, and in orange, you can see the mobility or light auto parts. You can also see that within two auto parts, 52% of our revenues in 2019 increased to 56% in 2023, and now this last quarter, 75% of these revenues comes from these two verticals, which are key in our model. I had skipped the slide, but the previous slide was about revenues, and this one is about EBITDA. So here we had 52%, now it increased 57%, our EBITDA, and we increased in 2023, we increased 71% of our EBITDA. In the first quarter of this year, we increased 75% of our EBITDA. So these are results that show the importance of auto parts in our business models. So we have full-fledged solutions for agribusiness, for the manufacturing, mining, spare parts, urban mobility, construction, also logistics, retail, financial institutions, technology, and other subsegments. So this is part of the entire transformation that we have conducted in our company. In the past, it was focused on some lines of product, but some of you still look at us that we are manufacturers of semi-trailer trucks. Yes, we do this still, but it is important to see that we have these semi-trailer trucks is a smaller share of our revenues. So we want to continue to evolve our business model, so we can have a more increased growth and resilience in our revenues. And this is important to see that what we expect for our future, the potential that we have as a company, and this is what we will cover in our next topic, in next panel. This is what I had to say. So it's back to you. Thank you. Thank you for the information. It's impressive, the potential of transformation of Randoncorp during these years. Now, I want to reinforce the message regarding the questions. You can prepare yourselves, you can scan the QR code, you can also scan the QR code on your badge. You are invited to participate, so please do it. So let's continue with our schedule. So, Sérgio, you have the floor again. So we can start our second panel that will talk about the potential for the market for Randoncorp. You thought I was done. I tricked you. I'm still here. Before I start to talk more specifically about our, about our potential, I wanna provide you some information on our revenues by segment. In this cycle between 2019 to 2023, where we had BRL 5.1 billion, now BRL 10.9 billion. So I will provide a breakdown to you about this. This is 23% of our revenue in this segment. So these are revenues in the foreign market. So this is what we export or what we manufacture in other countries. So it was 19%, and now it is 21%. And agribusiness is the third biggest element of our business. It was 13%, and this year is approximately 24%. But this is a diversified model, and this is very important in our pursuit because we want a model that has less risks and not based on the seasons. But what we want to mention here is the potential of our market, how we see this in many markets in which we operate. The first element that we will talk about, we will talk about internationalization and many other things. But I wanna start with agribusiness. It represented BRL 2.6 billion of our revenues, 61% in our car manufacturing of semi-trailer trucks, and also 36% in our auto parts by selling brakes, suspensions for trucks that are used in the agribusiness. 2.9% of parts that are sold to the agricultural industry, like tractors, planting machines, and so on and so forth. We also have semi-trailer trucks for sugarcane, for the transportation of grains, for forestry, cellulose, and also for slaughterhouses, tanks for fuel, and also for juices that are associated to the agricultural field, and also to agricultural machines in general. But we also have the parts for trucks, and these parts are also used in the agribusiness. So you know that the agricultural chain is very long, so you have the inputs, you have the harvesting, processing, distribution, and consumption. In addition to the indirect channels, like, technology, research and technology, financing. So all of these things are part of the agribusiness, but it is important to know that all these elements, all these elements, transportation and logistics, is part of the entire business. This is where we enter. This is the agribusiness in Brazil. You know a lot of the agribusiness, you know many other companies, and we are the first producer of soybean, the first exporter of soybean. So we are also first in coffee, as 30% of market share; orange juice, 75% of market share; sugar, the same thing, we are first. Also, for chicken, and also for cattle, we are first and second, which are positions that are very robust in terms of our agribusiness. Now, moving forward. Now, talking about the grains and sugarcane, the blue bars represent harvests during the last many years, 2024, 2025, you can see here, with the 180 million tons of—for the crop. Twenty-four, twenty-five, he corrected. 295 for 2023, 2024. If you adopt the curve to see, it, it's ongoing growing very fast levels. The gray bar regarding the amount of tons of sugarcane, which is another product, extremely important, and also here you can see the trend curve. If you see the line, the trend, it's very positive and fully positive, in fact. And for this cycle, in 8, 10 years, 2032, 2033, we will reach 500,000 tons of grains, 766,000 tons of sugarcane. Why do we believe this is possible? Because Brazil has a lot of area to plant, no deforesting needed. This area is available, prepared. Brazil has revamped itself and productivity is high. So those who today can irrigate its crops with three crops per year, this we don't have abroad, and this makes us... These figures are possible to obtain. But even if you think 500 tons, which, the forecast of experts, we just report, even if it's 450, 400, it's a fantastic figure for us and represents a huge potential. Soybean, 422 world tons in Brazil, representing the blue, light blue, bar, orange is USA. You can see Brazil has surpassed the Americans in terms of soybean production. Corn, corn is 1.2 billion, where the Americans are the biggest producers worldwide, and we are very close to them in terms of our growth and lower speed regarding other Brazilian commodities, but our pace is quite reasonable. So our capacity of storage has grown also. We still have a huge deficit, and the forecast is that this deficit will keep on happening, and the outcomes of having such deficit, first, is translated as a higher need for transportation. It's not healthy for the agribusiness per se, in order to be healthy and productivity and performance of the business community of the segment to be maximized and important to have a similar pace. So we hope this will happen, but first, if we don't have the capacity to store it, transactions and sales must have happen. Grains must be shipped, and this favors also our business. An idea of vehicle, equipment, machinery demand in Brazil, 60,000 of semi trailers. This is agricultural equipment, and 70,000 per year, and trucks, 40,000 per year, earmarked for truck tractors dedicated to this transportation. In Brazil, this equivalent figures is the second... It's another producer, 65,000 semi-trailer, 100,000 agricultural farming implements, and 65,000 trucks associated to this segment. But let's think, now follow with me, the green line representing crops in tons, looking at 2013, 2023 and 2033 by the end of that time. The orange line represented the circulating fleet of vehicles, and the blue line representing the market of, say, semi-trailer truck used for this transportation or shipment. So now, 2023, crop in grains reached 300 million tons. The fleet circulating of semi-trailer, 900 semi-trailer trucks, and the markets of semi-trailer market, 90,000. If the number of 500 million crop harvest is reached during the cycle next year, this will lead, and there's the direct correlation, you will have to ship this production. The 600 million tons more, representing 500 thousand for the circulating fleet, equal to a sale production of 1 million semi-trailer trucks currently, and 700,000 trucks to work with these semi-trailers. So we are extremely positive that Brazil's agribusiness will keep on growing. And Brazil has this place. You have followed the Brazilian position in the worldwide landscape. World population has increased, it has grown a lot, and increasing USA, you start, Europe production, Africa is still crawling, and Asia, with its limitations, and the whole world is looking to Brazil and saying, "The only country with conditions to grow and supply this world demand." That's why we have this optimism, which is huge regarding this segment. But it's not only the grains. We talk about sugarcane also in an, now, few, because we are positive regarding this, because fuels, renewable fuels, have all to do with our sugarcane production in 2025 in Europe. Fuels for aircrafts, they have to be renewable, and they are looking towards Brazil for the big producer for the aircraft fuel. So the potential in all aspects, either for cattle raising, cattle, grain, eggs, poultry, or pulp and paper, or sugarcane, fuels or orange, the potential is huge. It does not mean all will grow and be perfect in the journey during the next 10 years, a segment can have a better performance than others. But in the accrued way of seeing it, aggregate-wise, we are very positive, and the agribusiness, one of the pillars. And the other side, we would like to spend with you regarding internationalization of the company. We'll talk about it, addressing our three verticals, starting with the assembling car company. The North American company, in average, 380,000 vehicles, figures from 2023, we include in the traditionals. On the right-hand side, you can see how the pie chart, so the general shipment is then enclosed trucks and cold trucks is the second segment, and the second is the container-based, was the one we chose to start penetrating the American market. Now we are expanding towards the platform vehicle, which is the fourth, 7% represented in the chart. We are developing this line of products. That's under test in the American market. We reached $102 million of revenues in 2023, thinking about the American market with almost five hundred and nine thousand products you can see in this screen. Thank you. For us, the internationalization of the car assembling company, because the North American market is the biggest, worldwide speaking, we below the equator line, the world market is 5%, and 95, it is the North Hemisphere, and within the North, Hemisphere, the North American is the biggest market, and that's why we did so. But historically, the market in North America has cycles, and they bet in the Brazilian market, and it has more political, economic stability. The currency obviously is strong, and lot the opportunity for us to play the game there in a different way than Americans do. We are developing well. At some moment during the presentation, we will, in the line, talk further about our advancements in the USA. Okay, just for your knowledge about the market. Last year, 1.6% market share, American market, 5,100 products, 102 million BRL revenues. If we reach 3% of the American market, we will reach $200 million in revenues. If we reach 5% of the American market, which is regarding 19,000 products there, and $330 million of revenues. Even though, if we transform ourselves, our journey in the vertical assembling company in the North American market, of only 5%, this will bring a revenue growth, which is substantial for our company. But now, and talking about our assembly company, we have closed a contract of 3,000 units recently for our Hercules in USA. Just for your knowledge, there was—let's say, the market for containers had a substantial drop, and we mentioned this the two last times we met, but we managed now to close certainly the biggest contract in the American history, and going beyond the traditional companies over there. So we have received the official communication. We will start to manufacture now the next month, this production. But the auto car parts, it's the biggest focus we have regarding growth within this market, international market, highest focus in the American market, where I stress 380,000 semi-trailer truck, 550,000 trucks, and more than 110 farming implements. Today, in this implement vertical, we have 18 million through the hydraulic, which is this brake hydraulics for medium-sized trucks. 100% of what Navistar uses when Ford manufactures trucks, they use our products. We manufacture 120,000 units per year. 100% of this market is fed by Brazil for many years now. But we are advancing in the American market for the same basic reason. It's a giant market, different cycle from us, strong currency, economic, political stability. But here we have another touch. 2027, the EPA American will have a regulation which stronger regarding the emissions, equivalent to the Euro we're talking in Brazil, but it's a regulation that's different and different entity, so EPA, 2027. This is well known that will generate a pre-buy of trucks in 2025, 2026. The American open market do not buy on the spot. They start buying two years before 2025. This will be so relevant that one of the biggest manufacturers of the four that they have in the American market, this closed a new plant just to be able to have the capacity to expand and capture these opportunities. But if you look at the American market, you will think, well, pre-buy and then accommodation. Yes, but if you look in the long term, the line is a growing market. Very clearly, we can see it's a growing market, and we'll keep on this pace, strongly the pre-buy, and we want to make the most of this opportunity. Of course, as they have difficulties to supply, this will make it easier for us to participate. So we have three growth avenues, exports from Brazil, and Ricardo will talk about something this line. We can work with greenfield in the American market as long as we have commitment and alignment based with American manufacturers. Ricardo has traveled a lot, talked with Volvo and Navistar, and players, all the players in the American market. We are looking at M&As, mergers and acquisition, which is a faster pace for us. Adding market capacity, creating a name, it's a cycle with a due time that's higher, but we would like to have the path through a company there. There are several projects that are being taken into account, but the main products we are thinking about taking to the American market, discs, semi-trailer, composite material, shafts and other products. An example, thinking about suspensions and shafts for semi-trailer, we are using another product here to describe the same thing. We have 380,000 semi-trailers in the American configuration, average more than 2 axles by semi-trailer trucks, more than 2,000 axle trailers per year. So you can see these are the products in the screen. This is just an example of the potential we have in that market as we today cannot participate in an important way. We started some exports. Now, Ricardo, rigid axles? Mechanic suspensions, pneumatic suspensions, mechanic suspensions, you can see the PowerPoint. The third part of our internationalization, we talked about the assembly company, heavy auto parts. Now we're going to talk about control of movements, which has more history in the North American market. $91 million in 2023, most of this through friction materials, and $80 million and $11 million with brakes, discs, and drums. For this, more focus on the light line. This is a mix of what we already do there, but look on the right-hand side, the size of this market. Cars, just USA and Mexico, 250,000 units. We include Canada, 10% more. Approximately 300 million vehicles, light commercial in the same way, 70 million trucks, 2.5 million fleet, and Mexico, 1.1. Put 10% just to include Canada, and then close the account, say, semi-trailer, approximately 8 million fleet. So the potential for spare parts, it's one that's huge. Now, today, our movement control is present in Alabama. We have an office in Michigan, and we have operations and sales in Mexico. But to tap this segment is important for us. We have a strong presence in the USA, in the heavy line, and we have the small presence in Mexico, and we have talked with mobility, as we said, in previous opportunities. We shared this, that we want to focus more in North America, Mexico especially, focus on the light line and its spare parts, which is the model we have been doing in Brazil successfully, and likewise in the UK through Juratek. So the portfolio of products, a repetition of some fleet numbers. Our intention, again, is to expand further growth in light line. Heavy lines in the USA, especially, we are the leaders in friction materials for a long time, many years. We have approximately 40% of the spare parts markets and 70% of American Assembly Cars Company. They use this product. I don't know if you are aware about this leadership we have for many years now. So our intention now, as mobility, is to invest, grow, focus more in the light line. Once the heavy line, we have the opportunity, which is fantastic. We have gained our business. Let's keep going in the heavy line, but big opportunities for us are on the light line. So I talked about the agri-business of Brazil, one of our pillars. I talked about the internationalization, recalling our commitment of taking 30% of our revenues. We talked about also the spare parts, Brazil, not global, with North America and Europe included, but only the replacement spare parts, BRL 2.5 billion revenue, 72% being our controlled development. But I don't know if you're aware of this, 15% of both of the BRL 2.5 billion is the replacement through assembly company and 13% through our auto car parts. We are present in all segments, heavy car, vehicles, heavy. We have also semi-trailer, farming implements, and our purpose is to keep on expanding, doing more, what we have been doing with very successfully many years, including increase our presence in different sectors and overall. 65% of our revenues in the spare parts has to do with light lines in Brazil. So 35%-40% has to do with heavy lines, and we want to expand these distribution channels and portfolio products. As you add the fixed cost, for you to dilute the fixed cost with more products is something more palatable. As long as you have a name and capacity to manufacture, having a product, this is what our companies have been doing very successfully. We have a potential to grow. As spare parts, BRL 15 billion, the car manufacturing, BRL 61 million. You can see on the other side of the screen, the size of this fleet and also a huge potential. We have a respectful position. We are leading in spare parts in Brazil, but we still have room to grow. Finally, our final block, which is the car manufacturing in Brazil, we had revenues of BRL 5.2 billion in 2023, of which BRL 1.9 billion is auto parts for OEM and BRL 3.3 billion for vertical car manufacturer as OEM. 73% is focused on trucks, 12% on semi-trailer trucks, others, 7, and urban mobility, 8%. Our purpose is to expand the portfolio of products to defend our leadership and strengthen our relationships in the long term. We also have many opportunities in brakes, suspension, and we can capture synergies in our auto parts, and this is a competitive edge for us. Some examples to you. You can see our auto -directional axle, which is a new product that has been regulated last year, which is an auto directional shaft or axis. Our bus articulation, BRL 23 million of revenue. We also have ABS modules, which represents BRL 22 million of revenues, and in particular, the main business that we were able, was to go into the segment of rear access. It's a new manufacturing facility that we are assembling, which is BRL 70 million of annual revenues that will start to materialize from 2025. And we also have many other things coming. There are also electrification. We have this revolutionary system that have been saving so much for you, which is e-Sys, so you can have a electrical suspension in the semi-trailer. It was impossible to think of this in the Brazilian roads, but now we started to sell these products last year. But this is a slow process of acceptance for people to know this technology. It is a slow curve to achieve. Something that we wanted to share is that in 2024, we have closed 26 deals. We have the potential for 50 units for this year. There is a huge manufacturer of trucks here, and they are manufacturing five units, and we are targeting 50. These are small numbers still, but this represents a lot for us. We are gaining momentum, and this is what we wanted to share with you. We still have 63%... No, 63 that are ongoing, deals that are ongoing. We are focused this on Brazil. In operation, we are also attending fairs and events, so we are also have a negotiations. We can see the colors here: green, yellow, and red. We are on Chile, Mexico, we are also in the U.S., and we will be showing these products also in Germany, we will there exhibit our products for the first time. So all these technologies, these advanced technologies, they go some phases. So the first here are the ones that value ESG, but we are going to the second phase. So we assess the economic viability of the process, so we are getting very near to achieve this economic viability, and then the third phase will be scale, because this is a very expensive product, but we are evolving very well in this point. I believe this is all on my part, and Carla, the floor is yours again. Thank you again, Sérgio. The potential of Randoncorp is impressive. So we have many segments, many lines of businesses with an infinite universe of possibilities. So now, we will talk about cases to clarify this potential, and I want to invite for this, the CEO of Vertical Autopeças, to be part of the second panel. So, Ricardo, welcome. You have the floor now. Thank you, Carla. Good afternoon, everyone, people who are online and who are here at the venue. I will continue with the presentation. Sérgio talked about the potential. I will give you some examples, some cases, how we are conducting these cases and making that the growth of Vertical Autopeças will be sustainable in our strategic model. So these are practical examples that I will provide to you right now. So this is a Mogi Guaçu site. This is a strategic site for Randoncorp. It was purchased in November 2022. It was some facilities that were not operating. There was the building and the area, and it was our 6th acquisition in 2022. So in 2022, we had 6 acquisitions, and this is what is increasing our revenues that we showed in the last slide. So why is this site so strategic? Because it is near to some clients, some customers, OEM, and also Araraquara. So we have the opportunity to expand the two sites of customer testing, Suspensys, and around those sites, we have a huge area of 80,000 square meters, so we can expand our business. So this is a diversification of a location. So the climate change agenda is not what we will do in terms of climate change, so we see the events going on in the state of Rio Grande do Sul, here in Brazil, all the tragedy there. We are now looking in advance to this event, so we can serve our customers, and this is what we are trying to do with the Mogi Guaçu site. And these new manufacturing facilities, they are fully automated, so these are new lines, and I will demonstrate to you what we are doing in terms of automation as well. So now, first, Castertech, Mogi Guaçu. We started production last month. So we are now a ramp-up this month. We want to go and have 22,000 of iron, and more than 350,000 units of brake drums. We have acquired in the market a potential of a consumption of almost 130 tons. Schroeder, Caxias, and Indaiatuba facilities were able to produce 22,000 tons. So this is not enough for us, but no doubt, we are capturing new opportunities with this optimization of results, and we are bringing this with a more competitive line of products, and we can defend our position in the market and expand through new businesses. This is fully automated production. In the new molding line, we had an old line, we sold that line, and now we have purchased a new line, and it was 2023, was being used in Denmark, and now is being used here in Castertech, Mogi Guaçu. Only two people will be working. From the furnaces and all the other areas, we will have thirteen people. Of course, this is a different part, but we have the efficiency, the automation is very important to these new facilities. One of the opportunities is are the exports to the U.S. We have a support that we have from Castertech in Caxias, and we want to transform this site in a hub for exports. So this the potential for revenues for Castertech. On phase one, it will be BRL 2.5 billion. We have invested BRL 90 million to rebuild this building, but you can see that the building already existed, and it was conceived. You can see the furnaces on the back, and each one is for a molding line. So we provide the possibility of building a second line, and this is why we have a phase two, and we also can purchase parts from the market, so we can add more 20,000 tons. So this is our plan. We are looking to this unit and how we want to transform Castertech with this new facility, a more strategic site that is near the customers, increasing our capacity, production, and our results. We also have some new technologies. We are using AI to improve our results. So you can see here that in Caxias, in Schroeder, we are using AI with more than 30 million combinations for the programming of our manufacturing setups. So 30 million in increase of productivity. So we have 50%-70% of programming time. So we optimize which products go into the line, so we are able to have savings of 1 million BRL per year. So these are things that we are expanding, and we are introducing in the new site in Mogi Guaçu. So we are also using some melted components using niobium. We are also using traceability, using blockchain technology. So this important point, we want to reduce the mass of our products. As I mentioned, we are using traceability with blockchain. We have the QR codes in our products, but we can record them in a way that nobody can change it. So we are using blockchain for this, and we tend to use these technologies, and this will be helpful for us to be more competitive and defend our business and expand the company as well. Now, we talk about Suspensys, Mogi Guaçu, as well, and a facility that we have in the city of Mogi Guaçu. So we purchased that unit. There were five players participating in this bidding, and we needed to have the availability to have this company. So it was critical for us to purchase this facility in Mogi Guaçu, and on this site, we were able to demonstrate to Mercedes-Benz that we were able to conduct the business. So we had the best results with this new business, BRL 7 billion in 10 years. So we have the front axle. It's very important, we can increase the size of the opportunities that we have. So this is a new business for Suspensys. So this is state-of-the-art technology in this plant. We have automated items for this line of production, and probably start in the first half of 2025, the production in that site. And on this side, for Suspensys, we are investing BRL 150 million. They will not be made on year zero. The first investments are intended for infrastructure. We have 85% of the infrastructure completed, both internally and externally, and we will purchase these assets from Mercedes-Benz, and we will transfer to this plant. So we have the entire cycle of payment, and we will demonstrate these results that we are doing, this deal with Mercedes-Benz. So this is an opportunity to verticalize some processes. But another thing that is very important, and this is one of the factors, because Mogi Guaçu is important for us, and 60% of front axles are already provided by the domestic market. Not necessarily the Mercedes axles, but when we see the hub and the drum and the brakes, all these parts, all the ends of the front axles, these parts are being delivered in the domestic market. So this will help in the capture of synergies in order to maximize our results. And also this transition, we have this mirror plan with Mercedes-Benz, so we will have a backup to do all this transition and not to turn off one and turn on the other one. So we are transitioning in a safe way, so we can ensure the security and safety of this project. This is not that simple. You can see, Mercedes-Benz, Daimler Group, to provide exclusivity of, front axles to a company, so they trust us. This is assurance that we can do this, we can make those deliveries, we have a robust planning, and we will be able to achieve this product for that company, Mercedes-Benz. In manufacturing, we also have state-of-the-art items. So we have a smart manufacturing, we have autonomous, robots, we have advanced automation, and we also have real-time management. So what does this mean? We have some pictures here to you, how the Mercedes production is being done there. So these robots that I'm showing here, they do all the production. They take the components, they go inside with the robots, they do the machining, they go to the next step, and so on and so forth. So they optimize the resources and the results within the manufacturing facility. So this is a state-of-the-art line of production, and this is what we are purchasing for the production of front axle. And we are entering this new market, expanding our opportunities, and this is what we are doing to increase our portfolio, so we can go into other levels of product. So I close these two cases. Mogi Guaçu is very important for us for vertical passes, and this will represent our growth over the next few years for our project. Now, we will talk about Master. It's a 38-year partnership that we have. So how can we do this so long partnerships, so sustainable partnership? Of course, transparency is one thing. Trust, mutual trust between the shareholders, the partners, but no doubt we create value in this joint venture. We take the items that come from the, our joint venture, which is the brake and automatic, shift. So it increase the, this joint venture, so we ensure the sustainability of this joint venture. So, we are increasing the partnership, so we are, strengthening our participation in spare parts, and we are adding BRL 250,000 in revenues, which are cylinders and, drums, for brakes, the valves of the pneumatic system. All the pneumatic brake, Master will be doing this, and we could have made other decisions, but we, put a Master within our joint venture, so we can create value to this joint venture, and we intend to have another 40 years with this, partnership. Sérgio talked about Controil. We have the first step in this expansion to the United States. So we have a SOP with 3,000 parts in 2005, but now we have in 2013, 70,000 units. In 2023, we increased to 210 hydraulic brake discs to the U.S. market, and more than 2 million disc brakes that have been exported. So we know the level of quality in the U.S. market, we know requirements. We know about these applications, and we have this expertise in the U.S. market. The hydraulic brake disc, there are some points. Do you recall the U.S. yellow buses are 100% of the hydraulic disc brakes manufactured in Caxias do Sul by our company. What's new regarding expansion towards the United States? We exported indirectly those chambers we mentioned that we produce in the JV. We exported more than 14,000 chambers in 2023 directly through Hércules Assembly Company, the container chassis that went there. And through this, we have developed products that are reliable when we manage this breakthrough, as we name it, which is the first time ever we managed through JV, we can export the brake chambers. It's not part of JV, but we are accessing a market of $250 million U.S. So we are now starting the planning to act with the brake chambers in the USA with, through JV Master with production manufacturing expertise. Now talking about these cases I mentioned. In a nutshell, what did we do through this cycle? In 2019-2020 invoicing year, and well, two years or year, there's some oscillations amongst years, but it's important the average of both years, we can check how we are evolving from one cycle to the next. So invoicing Vertical Autos, BRL 1.9 billion, EBITDA with two hundred and twenty-five million, 8 units. 2022, 2023 dropped a bit, but the average between both cycles run rate yearly, so it's you can see BRL 3.7 billion. So we almost double of - double our revenues in both cycles. We increased our EBITDA to average BRL 590 million, 2022 higher, 2023 less, but the average BRL 590 million is run rate currently, and now we have 15 industrial units. Our next cycle is the increase of portfolio I mentioned, increase the size of the pie, how to enter with new products, cater the market, capture synergies, synergies, optimize results, and serve through competitiveness our clients. Organic growth through products and manufacturing from Mogi Guaçu or Caxias, and mergers and acquisitions, as Sérgio mentioned, mobility and agribusiness, electromobility and agribusiness, excuse me. So this is for the next cycle, and we want to double again our revenues during the next cycle with these projects I just listed. It's the first point regarding these cases. That was it. Thank you very much. I thank you, Ricardo, for your presentation, all the information conveyed. We wrap up and end the second panel of today. Now we start the first Q&A section. We are calling those who have not yet submitted comments, question. You will still have time to participate. Just access the QR code on the screen you find in your badge. I invite to join me on stage, and Estevam, who will be the moderator of this panel. We're just organizing, everyone taking their seats. So, Estevam, you can take the floor. Thank you, Carla. Well, I would say we have received lots of information. I have complied with what I said at the beginning. For you to feel our market potential, now the questions we have, Lucas Marchiori. Lucas, please. Lucas needs a microphone. So Lucas, your question? Thank you. Good morning. Oh, good afternoon, I'm sorry. Excuse me. Thank you for the event, the information, so useful for us to be able to quantify things, to consolidate all the topics you shared with us when we talk about potential market, being auto parts, being agricultural, farming implements. I would like to know how the counterpoint of the argument of capital allocation, it seems the opportunity in the different segments. So auto parts, assembly company, farming implements, what should the company give priority in terms of, terms of opportunities, in merge acquisition, auto parts, foreign markets? So know the strategy of the co- the group and where is going this new cap- this capital for the group to match business opportunities and capital allocation. So thank you, Lucas. So we just received a question by Marcelo Motta regarding, which is what related to your question, which values we can wait regarding the next cycle mar- capital allocation. So, following this line, Sérgio, Ricardo, we can answer our view for the next years. Well, perfect. Thank you, Lucas and Marcelo, for the question and presence. Intention, as said, is to keep on growing at a pace that's a fast pace. Therefore, our intention to keep on investment between CapEx for product portfolio growth, manufacturing capability, and keep on investing in acquisitions. If we have to talk about values, we can see the average of the last cycles and keep in the same pace, which is our intention. So we have projects in the sense of giving priority, as you saw, the units with higher margin. And we will keep on doing this, so the allocation of capital, either being CapEx or capital for investment, spare parts headed by Ricardo or movement control, will receive priority as it has been in our capital allocation. Thank you, Sérgio. I'd like just to add and answer in Marcelo Motta. Regarding values, we have guidance between BRL 430 million and BRL 490 million. Every year, we disclose the expectation of organic investment guidelines and also the financial discipline to be addressed by Paulo. But our assumptions regarding non-organic and organic investments is to have a healthy leverage to face any volatility. Next question, Gabriel Cini from Santander. Gabriel, please pose your question. Good afternoon. Thank you for the opportunity. Regarding the question, the first earmarked to the assembly car and trucks company, as it has been the North American market, a bit weaker in this last first semester, I would like to understand this new order, 3,000 units, and regarding the expansion of market share you shared with us today, how do you intend to reach this? I know you mentioned some product lines, but what's the pace for this and more earmarked for, regarding Mogi Guaçu's, Phase 1, the first phase of the project, BRL 2 million of potential revenues, and a second phase. The second phase includes the value previously mentioned, or it will be an additional volume? Well, perfect, Sérgio. Do you want to answer about the USA, and then, Ricardo, you can add with Castertech, Mogi Guaçu? Well, thank you, Gabriel, for the question. Our purpose is to grow in the semi trailer USA market, as mentioned, but we now chose not to pursue other acquisitions there. It has a lot to do with the previous merger question regarding market allocation. We have several projects, a sturdy pipeline for acquisitions linked to our spare parts and movement control, but we want to focus there for investment. But what are we doing? We are now expanding the products portfolio and capacity of production. So currently, 2023, we invested a lot in Hércules in the sense of improving productivity, which was good, but we improved further. We have 4 new lines, more automated, under processing. Going there by ship in 2 months, it will be operational, so we will have capacity to manufacture more with the site, with investments, the organic investments we made. Also, expanding products portfolio. We created our first platform for this market, and now it's under test, product manufactured basically with steel, but the North American market has a hybrid, half steel, half aluminum, and 100% manufactured with aluminum. So the second semester, we will launch the version steel plus aluminum, and the second moment, one version in aluminum. So intention to grow there, yes, at least at 5%, but in a way more organic, to say so. And acquisitions being coherent with what we have been doing, we will focus more on the other verticals. Thank you. Thank you for the question regarding Castertech. Now, as we have 130,000 tons we consume currently, so it's not an additional volume or order. This is, today, is 130,000 tons. Installed capacity we have, this year is the record regarding performance of Caxias, Schroeder, Indaiatuba units, 80,000 tons installed capacity. Mogi Guaçu, traditionally, 22,000. Even adding the second line, more, let's say, 22,000 tons. So it's additional, incremental, but it's business we have in our house. And obviously, we capture these results in-house regarding vertical.... We have seen this effect last year, Ricardo, with the truck market reduced, dropped 40%, but we've maintained stable auto parts revenues because the internal production and manufacturing. So a substantial drop, yes, in our revenues, but performance, EBITDA, and cash generation was something very good comparing it, the percentage. We optimize our fixed costs with the results, optimization results, bringing in-house the insourcing of auto parts. Thank you, Ricardo. And Victor from Bradesco BBI. Victor, thank you very much for being with us. Thank you for the presentation. Two questions. One, regarding it. It is a bit of the previous question. Now, how to think about profitability and market share? There's a huge potential of growth, but given the verticalization increase in the industrial side of things, how is the market share looking forward? And also thinking about the last stage regarding the financial arm, how—what's its weight to sustain Randon growth thinking ahead? Thank you, Victor. Sérgio, I will share it with you regarding the point of view of market share. We always say the balance between markets and profitability, market share and profitability. We see market share differently regarding value of a, a product, had added value higher than the competition. So this is a point perhaps we could address in this answer to Victor. Perfect. When you ask about market share, you mentioned the assembly company on, on an overall. Well, perfect. We have this leadership position in our, in our assembly company with semi-trailer, the total intention of keeping this leadership position. We are a leader in the main lines that Ricardo has in this auto parts, being suspensions, hubs, rotating elements and positions regarding leadership, and the fifth wheel coupling. In an overall, we have leadership position in our Master Systems for brakes. All the main products, we have a leadership position. There are some product lines where we have 90% of market share here for the fifth wheel. We ask ourselves many times: How can you keep 90% of the market share? But we have done this for many years, and we know it's a huge challenge. We invest then in productivity, invest in technology, in innovation, also reliability. So our clients like to work with someone that they trust and can forecast and know when natural disasters or acts of God or difficulties of relationships, it will work out and render prestige and keep up the operation running. And this thing that Ricardo managed for the front axle has to do with all. We are competing with a huge multinational, so the choice was made by us. A good technical proposal and competitive commercial proposal, but said by them, the differential was our history. They see us as a sound and serious company that they can trust. We will not be changing directions. So what we want to do with market share? The same thing, keep doing this, expanding, let's say, excluding and removing limitations of the chain in order to be pari passu and creating value for these clients. So our vision is we have one of our guiding lines, strategically wise, says that we create value for our clients as being the main differential in our side, solving their problems as we can solve it, like the front ax- For decades, that Mercedes wanted to leave, exit São Bernardo do Campo, now an important part of their production is migrating to us. So solving clients' problems and clients, clients' problems is the best way to perpetuate our view in market share. Providing solutions that involve technology, productivity, financial solutions, it could be liaison, reliability. It's a mix of many things. And, and also on our side, moving towards our side, we have done integrations and connections of capital, so the bank, our financial sides, can keep on following our growth in-house and also focus on the external growth. So we have, I hope I have answered your question. Victor, Sérgio, the next question is by Mateus Haag, Ártica Investimentos. Before, a piece of note is we have an extensive list of questions. I just beforehand say we will not be able to answer all, but the investor relations team will be answering it. Mateus is asking, as you mentioned, Sérgio, the deal transaction with Mercedes for the front axle, the biggest one in the history of Randoncorp, and he's asking about the profitability of this business. So Ricardo will be able to talk a bit according to information he has. Mercedes is pressuring more Brazil's operation for more profitability. That's why Mercedes has come to try to outsource this product. And how do we believe that it can be more competitive or provide more margin? I think part of the answer, you have answered in your panel regarding the unit, that state of the art, but could you drill more on this? Thank you for the question. I will not comment on the outsourcing, on the decision of Mercedes, the process. This is their decision. We were invited to participate in this bidding, and we participated. So what is, is it that we have different, that we can see profitability, that we can make a difference? So there are three elements in our vision. So in Mogi Guaçu, we have direct labor, and the costs are lower than São Bernardo do Campo, and also the union problems that we have in São Bernardo do Campo. As I mentioned, 60% of front axles are produced by auto parts, not necessarily the Mercedes axles, but we have the components and know-how and expertise to supply to Mercedes. And the third part that I see is a competitive edge is that we have this capacity to develop other e- items that are related to front axles. So there are many items that we do not manufacture, like the sleeve and the arm. We do not manufacture them right now, but we can see the feasibility studies, and we can manufacture those parts. And another one is spare part. So when you go into other components, so you have the possibility to sell those spare parts, and those things were not part of our portfolio until now. So these are our competitive edges, and as I mentioned, 60% of the axle is already manufactured. So this ensured Mercedes that we are the right partner, so there is no doubt about it. There is no vulnerability in this process. So let's move on with our questions. We have Gabriel Rezende from Itaú. You can ask your question. Thank you. Thank you, Estevam. Good afternoon, everyone. It's only a question. Sérgio talked about the opportunities of the group to explore the car manufacturers in the U.S. So I want to understand, what are the main challenges to grow in the U.S. market? I know that you know, this is an opportunity to smooth the revenues. So this is a bad cycle in the market there, so. But this is not to grow inorganically. So I want to understand, what would be the challenge of growing organically, or is it about improving profitability, improving ROIC, before improving the market share? Thank you for the question. We were talking about this, the challenges of labor in the U.S. It's difficult to find labor there, but it is a great opportunity for us to advance in automation. So in addition to labor, what other challenges you can see in the market so we can advance? We have to focus on niche products for a number of reasons. We have products with more simple technological items, so we can make our organization to get familiar with the US way of selling, managing operations, so this is adaptation for us as well. So we are expanding our product portfolio for products that do not require distribution network. So we mentioned this on the previous question, on automation, modernization. We are already doing those things, and we are reaping the fruits of these investments. So winning this bidding is a certification of all of this. But we also show you the pie graph that we have 60% of the U.S. market is spare parts, and you have to have a distribution network in the entire country, and this is a long process. So we are choosing the right segments, so we can operate those that are regional segments, so those that do not require a network. So we are trying to expand. But at some point, we will start to work on this network on a regional basis, and then we will let the purpose of transforming domestic operations to the future a little bit more long term. So if you allow me, I will ask a question. This is insider information. This is the analogy that you like to use, that crawl, walk, and run in the U.S. market. So how do you see our operations there? We are crawling there. We have the first operations there for more than one year now. We are investing a lot of money there to have these facilities. So when we started this journey, I mentioned that the—a U.S. industry of semi-trailer trucks, in terms of industrial technology, it is an old industry. It is very, very old. So we are investing to modernize and have the Hércules operation to a higher level, a more modern level, which is more related to Randoncorp. And this level already exists. And when we are producing the new sales, we will be in a very good position there. But again, it's a huge market there. So we have 5% of market share, and we believe that we have the potential to advance, to grow, and achieve more significant numbers in the future. So our step from crawling to walking to be more adapted to the U.S. market. So we will try to verticalize this, so we try to introduce our auto parts in the U.S. market. And another thing is that we want to introduce more advanced technologies to the products, like compound materials, for instance, use nanotechnology. So we have the ability to manufacture products that can create value to the U.S. market in a different way, in a distinct way. This market of semi-trailers, they are buying the same brakes, the same suspension, and this the upper part is different, but the components, they are buying these components from the same player. So the ability of being different in the market is residing in the cargo box. The remaining parts are the same. So our purpose is not being the same, it's to be different. But if we talk about a relationship, if we had Renato Franco, our officer here, so the fact that he looks for customers and, you know, enter into this relationship, this is different. They are going to the market in a certain way, that they acknowledge our competitive edge in even in our business approach. So this is how we operate, not doing the same things that the Americans do. We are doing these things with our standard of doing things. S o it's so nice to hear those words. In particular, these are important words. So we only have time for one last question. Andressa from UBS. Thank you, Esteban. Thank you for this event. I also have a question about the US market internationalization. You mentioned you will become a pre-buy company in this market. So my question is, what are the main initiatives that you are approaching in order to operate on this pre-buy that will start next year, in particular in auto parts? But if you can also see that the car manufacturer can also benefit from this movement. Thank you, Andressa. Yes, we see the potential for all business verticals, including technology services. But Marcelo, if you want to talk about the car manufacturer, and Ricardo can also talk about auto parts and also movement control, please. I see that you are mentioning pre-buy, right? The impact of pre-buy will affect more our auto parts and less our car manufacturing. There will be no pre-buy for semi-trailer trucks, but only for trucks. And it can have a positive impact to the extent that you can buy trucks, and if you don't have the semi-trailer, you cannot do anything. So it will have a positive impact for semi-trailer trucks as well, but the bigger impact will be in the manufacturing of trucks. The U.S. market had a peak one year ago. The vulnerability were very clear during that period, and all manufacturers are preparing, they are developing alternatives, so they will not suffer, they will not struggle again because they know that the volumes will increase in 2025 and 2026. And for us, this is a huge opportunity.... Ricardo has made contact with Navistar, the American Volvo, and some others, because those are the biggest manufacturers of trucks in that country. So we are dealing with many different products. So this alignment, because the struggles of the manufacturer can be like, drums, and maybe another manufacturer can be in need of, the access. So the solutions will be specific as a result of the struggles of any of these manufacturers. Ricardo, if you want to add something? Thank you, Vanessa, for the question. We have a Volvo North America to Brazil. They are here with, Volvo Brazil. They visit their customers, they met us, and they asked us to go there in Greensboro to demonstrate our potential. And then we went there. We can. We said that we can provide here supply from, Brazil and also from Mexico. And this is the strategy that we are conducting. Castertech is improving capacity to export. Master is also qualifying new components to operate in the U.S. market. So we also have the restriction of the joint venture for the territory, but through these initiatives, we can supply some components. This is how we are operating, anticipating our operation, and adapting products to the U.S. market, and improving our capacity to visualize these new deals. There are many things that we cannot disclose right now because of confidentiality, but we are doing many things in those segments, so these are only some spoilers in terms of auto parts. Ricardo, Sérgio, thank you for the answers. We have run out of time. You cannot ask any questions to me. So, Carla, you have the floor again now. Thank you, guys, Estevam, Sérgio, Ricardo. It's good when we have many questions, so people are engaging. Again, now we have a short break. We can take some coffee and some conversations. So thank you for the questions, and we'll be back in a few minutes. See you soon. For those who are here on the venue, we have a coffee break here behind the scenes, so you- ... We are back, resuming our Randoncorp Day 2024. Now we will start the first panel of our afternoon, talking about innovation and efficient plans. I invite now to the stage our CTIO of the company, César Augusto Ferreira. Please, a round of applause. Welcome, César. So thank you for your presence, and those here in person, and those with us through the internet. So some of you already have followed us here. Traditionally, I come and talk to you about product, but within the advanced technology, we have an important manufacturing arm. And today, during the few minutes I gain this time, I will try to focus further on what we are doing regarding manufacturing, which I find extremely relevant in technology. Ricardo mentioned a lot, Sérgio talked about in a nutshell, but I will present in a more consolidated fashion and a reading about impact. In some moments, we will talk about some figures, bringing more technology for this young lady of 75 years old, which is Randon. Not long ago, it were 58. Today, we have 32 manufacturing units, so we need prioritization, organization to keep the manufacturing complex, productive, efficient, and connected with trends. We have with what we want from our plants in the future, to be connected, where we can access work and make the most of the information, data collection, working on data. We go, and we have a journey that will embrace AI, a bit more complex. I will drill down on this. So we have a huge opportunity, a huge journey to make, production more automated, more linkage flow. We use several tools for these gains, and I will talk about it. And when we put all this in the cake working together, we start having a smart plant. Perhaps in a distant future, we can think about an autonomous manufacturer. Perhaps we might be able to reach this. It's a vision, it's a dream, but we are paving the path that will allow us to see how to make the most of all these structures we have. We are clear regarding challenges today. We know they are ordinary to the Brazilian industry overall, and I think we are not different from many, and but I think we are superior in many cases. We have, you know, labor cost is challenging, important logistics, challenging costs regarding quality. Laws are more strict, controls; assembling companies and clients are more demanding. We are searching and evolving regarding operational efficiency gain, and we are not excellence. We know what we want, and we are running after it, how much we're going to invest, what we're thinking about to dedicate energy for different technologies. Looking for optimization, excellence, operation, reduction of manufacturing costs, using put more intelligence in our manufacturing. There's concepts of smart manufacturing, fully install AI. This route is well designed in our mind, and there's the modus operandi, and we know how to reach this. As for operational excellence, it's a wide talk, ongoing work, and it's for all, all the time. We talked about TPS, Toyota Production System, several things that provide substantial gain, but we have to keep on following these trends, bringing more and being sure that each process, new product, it's placed in the most efficient way in our plants, with all the lean implemented, installed in any machine, production lines, and so forth. Clearly, of course. Fast implementation of robotization, I'm going to talk a bit more about updating. We cannot think about future of without fully automated plant, connected, linked, and very efficient, with no losses. Currently, the industry in an overall, and I admit, not only the Brazilian industry, but I had more time to dedicate to know the manufacturing complex of Brazil. We have basic fields in lines, linkage, inter-logistic losses, the handling of spare parts inside plants, that it's expensive for efficiency, and people don't see it, this. When you drill down and try to solve these problems, you see a huge evolutionary development, and we have an Auttom in our umbrella. It's a window of opportunity. We embedded since 2019 with the project structured; we're growing more traction on having a MES, which is a manufacturing proprietary system, which e-MES, faster tech project demand. Carlos mentioned, we are absolutely prepared. A good planning, foresee strategy, prepares one to be at the right time, under the right conditions to meet new challenges. So the plant we are set, establishing Mogi, will be state-of-the-art. I said, we're going to name it our lighthouse, because I see a huge potential placement of, placing all these technologies. And we started to work on some a few years, so we are more prepared to embrace it. We have to have organized data, AI, and we will be a point, we must say, we will have a digitized manufacturer. This is our path and route. Now, I will share with you an example, which is very symbolic for me and interesting. We talk about digital twin. It's a huge challenge. You get industrial complex like Randoncorp, and say from overnight, at 100% digitalized, it's more almost a utopian, but it can be done in chunks, in parts. So three examples I share with you to show the symbolism that all simulations made with expert team are part of our productive process parts. An example here, I think it's a point. The upper one, improvement in the flow in Araraquara, in our Randon Plant Assembly company, Castertech here, improvement in oven, furnace, supply, in millions of BRL per annum to gain in efficiency and productivity. Perhaps, a more symbolic example we have here, we have dedicated Randon Implementos. We have a huge bottleneck, which is painting. Currently, it's a challenge. We use this type of technology with highly skilled people. We have a roadmap with gains confirmed of 21%, with the potential of reaching 33% efficiency gain in that operation, which is a bottleneck. If we can do a simple parallel, gaining this type of efficiency, the whole plan. Technology is not buying sensors and saying you are connected, being able to use everything available. And this type of concept is a journey. We know this is a part in a puzzle. Small pieces of a puzzle representing BRL millions in efficiency, but we have a potential of doing a puzzle of several little pieces because we have a huge potential in our plants complex. When we talk about this puzzle, then you have a digitalized plant, and you can see, and you can simulate any change in process variation in processes and products immediately, that will impact the results. This is a reality inside Randoncorp. When we talk about plant, you have to talk about automations. You know, we follow this journey. We have accrued in the last 5 years, more than 350 robots acquired. We delivered 79 projects. Sérgio mentioned some. Hércules also, we have deliverables for clients in USA. Currently, approximately 20-25% of the forecasted revenues of Auttom today will come from businesses, industrial automation solutions abroad, especially USA, where they have a combination that's positive on our side. We know all the strategies regarding bringing the internationalized production in that geography or the debate regarding Made in USA. And we know also the gap or lag behind these manufacturing groups have, because they had not much demand, they are outpaced, and we see a huge universe of opportunities. But I would like to make clear to all here, of the other 80%, we are obviously working on the domestic market, and I think half of this. On solutions and negotiations done within Randoncorp, we are investing substantially in the installation of these technology in our manufacturing complex. We have huge in-house project that will further increase efficiency and productivity. In this journey, we gave another step. We have our own AMR. We developed with a partnership, AMR, inter logistic transportation or shipment transport where amongst own plants, different from the car with a line that follow. This is 100% autonomous, so this gains productivity, and this will become a product within Auttom, in the portfolio solution. In the other rate, these projects have enabled 59% of productivity gain, those being installs, these solutions, automated cells, linked cells, and many of them, robotized cells. I mentioned also that we have the EasyMES a journey that is start back then, and it's moving forward in a fast pace. We are growing expressively with our development of the solution. Today, it's identified as one of the main projects strategically wise, within our manufacturing structure. In fact, it's a huge platform that will make the whole management of manufacture of all units. Our clear roadmap, we started the journey in 2019, and there's no date to end, but we are following our involvement plan. Next year, we dive more complex algorithms to embed more strongly into artificial intelligence technology, which are solutions heavily aligned with this trend. And this platform is a reality. It was thought mainly earmarked for centralizing data and cyber security guarantee, but it's delivering more. Today, we have more than 80 million data rows daily regarding records in our own platform. And the reason? Because I'm filling up my data lake. We are clear that Randon will only be able to make the most of all its assets when it has all the available information, the different systems, absolutely organized. And why this? Of course, for us to meet our journey, to introduce our AI and complex algorithms in a sturdy, organized way in our organization. This is a more recent journey we started in 2020 with the first initiatives. Today, we have a well-established governance committee. We engage in partnerships, and tech partnerships are being made for this production. Next year, we will open and trigger with a higher speed the penetration of this type of technology in our operation. I'm talking just about plants. All inside the operation that can be covered by this type of support technology that will be supported by it. And we started. It's not because in 2020 we were thinking, we started to test, but Ricardo mentioned during his presentation, I also brought this backup Castertech, blockchain, IoT's. Every productivity gain, complex algorithm was built, and we are searching for creating an excellent concept in the setup and sequencing of production of Castertech furnace with significant gains, and this like fast-fastly with the operational research in investing AI, AI, we reduce 80% leftovers or regarding the printing that do the plates. All again, with gains of BRL 1 million, BRL 2 million, BRL 3 million, but we're talking about up to now, when we were still building our path, we already have approximately 30% projects in place. This journey is coming fast, in a fast pace. That's why I stress it, and we are inserted inside this, and gains are being harvested. When we get and try to see in a wider view, the impacts of the introduction of these technologies and concepts, we start to measure values more tangible. We have gains beyond BRL 150 million, accounted for in productivity gains in the past, and to see, we hope to further growth in this figure. So this is a journey that's coming not only align with trends and making us prepared to receive new demands and be recognized on a tech-capable company in product, as we have been saying, but also regarding manufacturing efficiency. Perhaps it will answer a bit what was asked by one of the attendees, that it would make sense to manufacturing Mercedes-Benz front axles, where they are trying, Mercedes trying to improve their efficiency, but we can see we can be more efficient and pave this path in a sturdy way. But I say, if I don't talk about products, you're going to say something is missing. So I could not share, not share with you the Nione, Nione subjects. First thing to share with you, we had to change Nione from site. It has grown a bit, and it's now in a new building in Santa Catarina. We developed the whole ecosystem... even our employees are well adapted and keep on to their journey there. Nione has a unit which is a bit bigger and more organized inside its journey that we're building, tackling the market, presenting technology and business gain. We did a presentation of a solution with partnership, which is NanoScoping, a small company that epoxy resins. We presented the solution at a French trade fair, the biggest fair in polymeric materials worldwide, I would say, with huge presence from aerospace, people, automotive, and they called the attention of, on us. We are housing some international fruits based on what we presented, and I'm showing you why. These are technical characteristics, but those who know this type of games, they are expressive regarding for 23 more tenacity, 55% UV resistance, and hydrophobicity are important characteristics. There's Airbus, a European company, well-known. Everybody must have flown during the last days in one of its aircraft, and they're interested in what we are doing. Unfortunately, the last one, we are doing the event a few weeks before. We will have a new product launch for surfaces with a partner. Tanac has launched the product, that it was strongly impacted by the flooding in Rio Grande do Sul. These are things that happen, but we have some products that are entering the market with our solutions. There's a roadmap, very important for growth with international exposure. We have fostered the big ones, and they're inviting us. We are presenting these solutions in new in the headquarters, USA, Europe. So we are in an important path of growth to build and consolidate our Nione strategy. Always, I talk about nanotechnology. Sérgio mentioned here, I have more capillarity. We have evolved also to improve or to bring competitive differential for our own products, and I stress here, development of cast iron alloy, and I want to show it's more competitive and it's more close to be shared with the market. These values, figures here are the growth size orders that we are finally, Sérgio gave a small spoiler, the market we will focus first. So obviously, there's a huge potential to tackle the American, North American market, with this tech differential. So the journey of Nione, it's coming in a good path. Pace, be is in our expectation. Obviously, we underjudge at some moments the market perception about new. We feel some movements that causes new people pose more questions. So the convincing path is higher, but each day that goes by, attraction is higher and higher, so it's been quite positive. And now, of course, if we talk about technology, some of you had the opportunity when you were in Caxias to see the first concept working there, but we have investing in developing our own solution for an autonomous technology. So we search in this development to understand technology and develop our teams and to know this type of solution. Of course, we have some strategic ambitions, and I think this solution will be a means for us to start also, as an example, to bring to some markets indoors, a bit of what Randon can do, not only as for trucks and auto parts, but also technology by our product. So- So the technology is advanced, the algorithms are more advanced. We may put the first units to circulate in our truck manufacturing plant in Rio Grande do Sul. We have some trucks that make this movement and this handling within the company. We will try to replace by this type of the solution. And this is to show that we are investing in technology. We are preparing ourselves, all this universe that Sérgio and Ricardo showed us, this new game that we are playing. So we are on the premier leagues. We are playing with big, players, and we have the capacity to be at the same level when we talk about state-of-the-art technology. And almost on time, I thank you. I finish my presentation. Carla, back to you. No, you were precisely on time. Thank you very much. AI is, you know, there's no turning back, so it's important for Randon Corp to be aware to the new technologies which are critical for the growth and valuation of the company and businesses. So it's time for our last panel. So I would like to say again, so you send your questions, so use the QR code. So to tell us a little bit more how Randon is creating value to investors, we invite Paulo Prignolato. Paulo, you have the floor. Welcome... Do you have the mic? The floor is yours, is yours. Good afternoon. Thank you for attending this event here today, those here at the venue and those online. Thank you very much. And now I will wrap up, and tell a little bit more to you about value creation. What is our value generation journey? So it's important to create this virtuous cycle of what happened, what is going on, and what will go on in the future. So I want to mention allocation of capital in profitable business. So this is a growth path, but when we talk about creation of value, we have to look carefully to those businesses that are not profitable right now. And over the past years, as you know, we have invested a lot of money, but we made some difficult divestment decisions. So this is our day-to-day activity, to review the businesses, challenge the units, but if we feel that the business will not be profitable in the future, we have to make some difficult decisions as we have. So two is accelerated growth. Three, capture of synergies. So you have seen our track records, all the M&As that we have carried out over the past years, so we are capturing this. And four, we can have more resilient results. Five, construction of tomorrow by investing in R&D. So we have many things on our pipeline, and we are investing year after year on this. And we are keeping our financial health and financial discipline is key to us, and it will continue to be in our upcoming growth cycles. So growing remuneration to investors, an inclusive, safe work environment, focusing on people, respect above all. Continued search for evolution in our governance, so we are proud of what we have done over the past years. So our governance level are even superior than those companies listed in the market, and we have this commitment to keep evolving year after year on this subject. Positive impact on the community. So this is our funding strategy that I will talk about now. So we are trying to diversify our financing sources. We are also working on the reduction of the average cost of our debts, increasing indebtedness terms, discipline in terms of costs and investments, and also cash flow. And for those who are near us, they know that we have divested, cash flow that is entering our cash, so we have this discipline to do this. So this is a very robust cash flow management, in particular, inventory, supply chain, and so on and so forth. So this is capital that has been released for further investment. Opportunities, this is the best thing that we have. We are a vertical group, and so we are growing, and we'll continue to grow. Credibility with the financial markets, which is a consequence of all of this, and continuous control of leverage and foreign exchange rate exposure. And now, we have an S&P Global rating, which is brAA+, with a positive perspective. So this rating agency has confirmed our evolution in terms of debt management growth, and this is the evolution of our rating as well. And this is about financial leverage. So over this past five years, we had a strong pace of growth, and we continue with a financial leverage that is near the EBITDA. It is important to highlight, which is our liquidity management program. So we are working on a volatile environment where interest rates has varied over the past few years. On the other hand, it is important to keep this high level of liquidity. This is a tradition for some of the Brazilian companies, and for us, we think this is a safe thing to do. So we have been able to manage our finance, in particular, because we have good liquidity, and this give us comfort to go to the market and can capture the best windows of costs and terms. So our financial liquidity give us comfort to manage our debt over the next three years. We have some new important funding in order to diversify our sources of financing. We had, this year, the first sustainable funding. It's half Randon and half Fras-le, which is BRL 500 million. And we had a discount that can be 0.50%-15%, in particular, because of some KPIs related to sustainability, with a debt term of nine years, and this will leverage our sustainability initiatives, so we will continue in that journey. Also, recently, we had a liability management transaction, so we prepared, so rearranged some debts that were expensive, and we were able to access the market in the amount of BRL 600 million. And it was the first time we could carry out a bullet transaction of seven years, and this shows that diversification of financing sources is beneficial to the company, in particular, regarding the market perception. And this also caused us to have a reduction in the terms of the debts in nine months. Now, we also took this five-year period, and it's important to stress that RAPT4 has valued more than 71%, and the CDI Index, 48%, and Bovespa is 45% of valuation. Of course, the market's volatile, but looking to the long term, it was a excellent investment for us. It is also important to highlight the flow of remuneration to shareholders. So we have paid almost BRL 800 million in dividends to shareholders and 7.42 reais of profit per share over the past five years. 31.5% average payout and 21.2% dividend yield. And so you can see here on the right, year to year. And in capital allocation, we are aware, so we have to stock purchase that we had in repurchase programs that we had in this period. So now, Carla, you have the floor again. This was my presentation, so we will resume to the next panel. Is that right? Yes. Thank you, Paulo, for your presentation. So now, a round of applause to him. We have talked about value creation by Randoncorp because of soundness and consistent results of the company. So Paulo will remain here on the stage, and meanwhile, I invite here to the stage, Sérgio, again, please come to the stage. Also, César, and also David, who will be the moderator of this Q&A session. So take this opportunity to pose your questions. This is our last Q&A, so you have the floor now. Thank you. Now, this is the second Q&A session. Thank you once again for the questions. People who were on the list of the first Q&A, and they wanted to remain on the list, and the first that was on the previous list, and now is on this new list is... It's someone on the third row here. Manuel from Citi. Thank you for this excellent event here at B3. Two question: thinking on the long term in terms of autonomy, so this is high tech and the autonomous trucks as well. The truck will change, in particular, the cockpit will no longer exist, and then the truck and the back of the truck can be one single thing. So you are going into OEM and OEM getting into you. So do you think this truck of the future, the cockpit and the back of the truck, will be only one thing, one single thing? So this is an opportunity or a risk to you. And the second question is about geopolitics being on the light vehicle industry. It's a very politicized market in the US, so Trump is saying that he will tax light vehicles that are manufactured. So we also have some struggle between the from the Chinese and the East world. So how is that question regarding the heavy vehicle industry? Regarding autonomous vehicle, I would like to talk this subject together with Sérgio and César, because we have the product and the technology. So, Sérgio, I want you to talk about the product, this interconnection with OEM on autonomous vehicles, and César, and how can we explore this technology? So where do these ideas come from, and how can we develop this internally? So I think this is a very good thing for us here. So technology are being created in-house. So, Sérgio, the first question is to you, and César, if you can talk about geopolitics, and you have great experience on North America on this, so please. Regarding the future, the potential future between the, the cabin of the truck and the semi-trailer truck, it was frankly, the real reason why we started this journey. We are now. We have a diversified portfolio. We have our auto parts that are. We provide truck parts to the suppliers, but we have no intention to compete with the big manufacturers of trucks of our customers, so this is not part of our intention. But thinking of the long-distance future, yes, there is a possibility where the cockpit and the semi-trailer truck will be one single product. If this happen in 20, 30, or 40 years, we can have a significant impact on this. In a scenario where truck manufacturers can operate in our segment, because the cargo is carried in the same trailer trucks, so we must be prepared to this reality. This is a defense strategy. We didn't have the intention, but I think this would take 10, 15 years to get there, but they were able to do this in 2 or 3 years. Our intention with this development of this new technology to enter diverse applications, there's a world of applications that is not conflicting with our customers. Again, we will not compete with our customers. We will explore all these possibilities in agriculture, confined environments, plant, industry, manufacturing facilities, ports, and many other applications of this type. So your observation of this possibility is real, and this is the real reason why we went that way. Do you wanna say something? No, I think this is it. I have the mic here. Okay, now it's working. No doubt, what Sérgio said is right. We are focusing on the future, all these technologies. These are part of deep strategic discussions, and we got to this conclusion. So we must go into this autonomous vehicle technology. One thing that we have learned, if they are one single thing or if they are separated, the cabin and the semi-trailer truck, the truck has an important role. So think about the future. So it's-- You have to think how you can drive those trucks, and I'm talking about autonomous vehicles. So this is an important part of this development in order to make this technology feasible. I say to you, because I know this, if you research all the demonstrations that we see, autonomous vehicles, they are, you know, being driven in the U.S. They only go to the front, but they cannot drive to the back. So we are improving our technology, considering one or even two semi-trailer trucks, they can participate, they can act in a specific way. They will be active in this, this method, in this heavy duty vehicle market. So this is something that is related to us as well. And also, we have a clarity, we have been discussing. We have the technological path very clear in our minds. So when we talk about materials, connectivity, when we talk about technologies like autonomous vehicles, this has been discussed, and we are always revisiting these discussions for some time. So we have a strategic clarity of what technologies we need to enable in order for Randon, in 10 or 15 years, can be the company that we intended to be. Thank you. The other part of the question is related to the American market of heavy trucks when compared to Brazil. Yes, President Biden, he imposed 100% of tariffs for not only vehicles, but other products for electric vehicles, but this is related to anti-dumping, because we know that Brazil vehicles are sold here in Brazil for the prices they are being. So these are numbers that are very difficult to be achieved, achieve if you have a subsidizing. You cannot compare with the Chinese in this. And we were not able to purchase those vehicles for $1,520. Only Chinese can purchase those vehicles on that price. Batteries, all the investments, these are part of our master plan, so this is important for China to protect their country, so. But for the rest of the world, this is a competition that can be questioned, whether it's fair or not fair. So we have anti-dumping activity that is going on, and this also involves other products. But there is. This is not related to trucks, in particular, heavy trucks. I don't think they will be in the same category. For small trucks, they were able to enter the American market. But in terms of the structure, the USMCA, the new NAFTA, maybe it is the best way, the most complete way for us to bring some type of protection for this economic group of these three nations. So you can have the local content of raw material, which is 70 or 75%. You must have labor, direct labor, and I believe it's $16 per hour. So even the production in Mexico with cheaper labor is also being questioned, because the average labor has to be higher than that. So everything in terms of cost and be imposed by the U.S., protecting the block, but thinking to increase the content, the American share, the U.S. share in that market. So big manufacturers of trucks, like Navistar, they went to Mexico a few years ago. They are manufacturing heavy trucks in the Monterrey facilities. Daimler has also been in Mexico for some time. He manufactures. I think maybe 50% of heavy trucks that are being manufactured in Mexico. Also, Volvo has announced a new truck manufacturing facility that will also be in Mexico. So Mexico is an important country in this scenario, and I think the U.S., as we mentioned before, before the break, they are struggling with both. So you cannot produce internally because you cannot find labor in the American market. Thank you, Sérgio. I hope we have answered the wide questions you made. Now, Fernanda Urbano, on the right-hand side, please pose your question. Good afternoon. Congratulations for the event. Thank you for the opportunity to question. My question is to question, Sérgio, gain of efficiency initiative you mentioned, and you even mentioned the potential of BRL 200 million of productivity gain forecasted for the current year. I would like to understand, amongst the initiatives you mentioned, digital twin, AI, automation, do you think there's any that stands out for productivity gain to... Can you explain this to us? And the second part of the question: in the long term, we see differentials of Randon regarding technology. So I'd like to understand the productivity gain is amongst the initiatives, among the manufacturing. What strengths in Randon compare to the other players in the market? I think you have called César to answer your question. So, César, could you address both questions? And we also stress, I think you have noticed, that in addition to have the ecosystem of products connected with auto sector, we also consider ourselves as a tech company based on what we shared with you regarding technology. So now, César, take the floor. Thank you for the question. Well, I will answer two ways. The first, you don't want, but I will explain. These technologies, they have synergy. When they are looked together, they make sense. No sense automate or robotize a cell if you haven't applied the concepts of lean, assess if the flow is optimized, otherwise, you do what to do. I'm sorry to say, this is a dumb optimization, so there's a need of being concatenated. Of course, when we have the digital twin, it's strategical guiding, and there's a journey to reach this, but there's no doubt what we are, where we are seeing the main gains in a short-term point of view. Automatization, understanding, robotization, the same package, is where we are gaining the biggest events in efficiency. I will not discharge all the projects of lean manufacturing that are key for the business. I'm not discharging this, all the other unfolding. But today, we have placed more energy, as I showed you, more than 70 installed automated cells in the cycles in our units, is to believe in automatization and robotization. Sérgio, would you like to add? So I would say that expanding based on what Sérgio mentioned, we know that our future, the environment we act, it's highly complex. It shifts in a high speed, in several segments we are present. There's a cutthroat competition, and the way for us to be able to keep on performing well, improving our results and earnings, it has to be ongoing, and productivity gains are the base of all this. How to obtain these gains? Sérgio mentioned several forms: productivity, raw material, management of people, in our manufacturing complex, using AI to manage several topics in our organization. But this concern regarding productivity is key. The traditional Brazilian culture, especially the older one here, will remember this, is one based on inflation. Increase of raw material, labor costs increase, I accrue for some time, then I pass through to the clients under the process of negotiation. But this dynamic is not true worldwide. We have talked, we are doing this, we want to see our company more and more globalized. So the way of having costs and passing through to the next link of the chain, it's not effective abroad. So we have to change the mindset in order to have actual gains in productivities. Of course, we're not fighting to pass through. Yes, we will pass through everything we can, but to be successful abroad, productivity culture must be stronger than what it had been so for us sometimes. So the managers that are not here with us all have fantastic projects for us to gain productivity. So I will say it's something that's becoming part of our DNA in our company, looking for productivity gains and obviously automation, AI, processes, sales, our manufacturing process to be more differentiated. It's vital. Thank you, Sérgio, for the question and the answer. We have some time for one more question. I don't want to use more time than the given. So the question is by Flávio Pires. Flávio, please pose your question. Thank you, Davi, and the opportunity to be here asking. The first question: Paulo Prignolato talked about the de-investment that the company does with from as time goes by. And could you give some examples, what went wrong, in-house wrong? And it's good to know that company is recognizing changes and how the company approaches this, and if possible, with some examples. The second question is regarding the climate disaster in the south of Brazil, Rio Grande do Sul, and if this has generated any brainstorming on your side, looking ahead regarding the site of the company, where it is. Please share with this, this event was something that was a huge impact. Thank you, Flávio. Well, the first question, Paulo, I'll ask you to talk a bit. Well, it's regarding maturity of a company, not only to be able to invest, bringing value, but also know when to de-invest. So, Paulo, could you drill down on this? And following Sérgio regarding Rio Grande do Sul, it has been something that was terrible. I talked with the market about it, but could you give us more details how we faced what happened with your company—our company during this time? I think it's important to share with all. Thank you for the question. Well, I made a point of mentioning, and even in the material, as I said, our drive is to grow, but as management of the company, to analyze the performance of all units and business. With this, I didn't quote, but I will mention the three cases that happened during this time. Randon Vehicles manufacturing of Yellow Line, and our target, in addition to be financially wise, is also to have a focus in the other verticals. It was a business where we had to compete with big multinational companies, billionaire needs and pay, R&D and development. So we decided to allocate these resources of the selling in other verticals. Additionally, we have a manufacturing complex in Peru, and because of socio-economic, political stability, we also became concerned with the business, and we decided to close. And finally, what happened this year was the closing of our plant, Fras-le, in Uruguay. According to our analysis and also resulting from the dependency of this country on the specific business with Argentina, especially, the flow of resources was starting to be compromised, so we shift the production to Brazil in a more competitive way. Systematically, we are analyzing all operations. These are difficult decisions, but we are those who have to propose to the board of administration. Sérgio, now you have the floor for the second question. Well, I will say in a more superficial way, I think Daniel will touch this subject, but we were impacted. Yes, we had three different situations regarding the Randon situation. With heavy rains, we stopped the operations for some days. We have approximately 4 families that lost their homes in the region of São Leopoldo, where we are present. We have 450 collaborators there, where upon 200-something families lost their homes, and the water there, and the paralyzation took several weeks, not some days. We resumed only by the end of May, that we started to operate again. We had almost 30 centimeters of water level in our plant. Losses were not total, but we had impacts, but the operation is running again now. I would say 90% of the working force is there. In Porto Alegre region, where we have a distribution center, and we had an interruption, but because of the nature, is not a manufacturing unit, people could keep on working from their homes. So this has really impact directly our manufacturing and production, different levels, I stress this, but truth is that's an actual impact that we will know... in the next months. Let's say, small business men and companies, they are facing difficulties. The economy of the state, and Daniel will drill down on all this, I will not expand, but the impact for us happened. Our company has supported a lot communities and our employees. We have statements that touch us and situations extremely difficult, and I can say the following: We have visited all the 300, now it's 290 companies that were, psychologists, professionals, engineers, team, legal department, financial support, substantial for our employees. And there are those that... statements of thank you and recognition for the effort by the company are fantastic. So it's a very touchy moment, long days, lots, many flooding, donation, and crisis committees. We have done, again, working on the support rendered to our employees, including those communities where are present, donating in all natures. You can think about manufacturing bridge, remodeling schools. We are trying to remodel the school, donation of bed mattress, pellets, fuel for civil defense, drones for the fire brigade, Red Cross, we donated money. Every day we have, let's say, we are involved in this. So it's a strong movement of people from Rio Grande do Sul. They are highly resilient, and the level of support of all Brazilian society was fantastic. No doubt it will be a long journey, but Rio Grande do Sul is going to recover. Thank you, Sérgio. So now we end. Thank you, Paulo, Sérgio and Sérgio for the the second panel Q&A and your participation. Now, I pass to Carla, so she can help us to go to the next panel. Round of applause. Congratulations, David, as you debut as a moderator. So thank you very much for your participation and the questions. Now, following the closing, I would like to. I was touched hearing about the support and everything you are doing with the, with teams, collaborators, and we cannot wait more than this from a big company. Now, for the closing with golden keys, I invite to join me on stage the Chairman of Randoncorp, Daniel Randon. So a round of applause to Daniel Randon. Thank you, Carla. So good afternoon. I hope you have enjoyed this afternoon, those here with us, but also those online with us. And I would like to first thank you, the RI or IR organizers team, B3, and Ricardo Martins, Chairman of APIMEC, and also the work, special work, by our leader of Randoncorp, Sérgio Carvalho, with ComEx. And so the opportunity of coming here, talking about Randoncorp, what we are, we are doing, our growth projects, our commitment with stakeholders, especially investors. Analysts are here also understanding our commitment and what's the value generation regarding sustainable growth. Therefore, we would like to talk further about what we are working on. And I think it's important to stress that yesterday we launched the new sustainability report 2023, was launched yesterday, strengthening the work of ESG of Randoncorp. Materiality included commitments and stressing in 2021, we presented the main ambitions of Randoncorp, looking the planet people business view. So here we have a strong commitment of keeping a working all units, so we can reach 40% reduction of greenhouse gas emissions by 2030, and also industrial land fuel and treated effluents by 2025, and 100% we come to double the women leadership positions by 2021, and zero serious accidents, and increase the net revenues yearly generated by new opportunities we see as an opportunity of sustainable growth and value generation for stakeholders, as it has presented. Lots of our tech innovations add a value that we conquered together with our clients. Just stressing, last year, Randoncorp, together with INPI and also with Hercílio Randon Institute, it's a DC that we have, and Randoncorp is a sponsor. We required 58 patents just behind Petrobras, but the budget compared for investments was quite higher and smaller, César. So congratulations to César, all the team. So we are introducing disruptive technology, and these disruptive technologies, with the leadership of Randoncorp, with these projects, they will help us to achieve these targets. And even for some car manufacturers today, they are not only trying to achieve this, net zero by 2030, and some of them not only 2050, but they are committing to 2040. So this is the commitment of suppliers, so we can develop those technologies, and we can serve as a supplier, those clients that will demand. So we will have the COP 30 in Brazil. Brazil's commitment will be disclosed there. And Brazil is one of the cleanest countries in, in terms of energy, more than 80% of clean energy in our grid. And this makes us in a different position, in a higher level. For carbon credits, this is an incredible opportunity for us. We also presented the footprint last year. We have a footprint in some of our products, so this position us in some business opportunities from the consumer to the delivery. So we are confident that we can have a qualified leader, so we can generate value, in particular to our shareholders. And this is so important that Monday night, we had the acknowledgement by the Exame Magazine, and Randoncorp was awarded as the winner in the industry of capital goods and electronic and electric products. So this is acknowledgement of our efforts, 16,000 workers. This reinforces that we are winners for the third year in a row in this category, this award, so reinforces our work. So thank you, the Investor Relations Department, for this report, and we have here all the efforts and all the results that we want to achieve. Sérgio talked about what we have done over the past few years, and we are saying that 95% of the municipalities of Rio Grande do Sul had some type of impact. So it's about 200 people dead, some people are missing, and the authorities are working to locate those people who may be dead. So many people have been affected in this tragedy, and we are talking about 400,000 people that are without their homes. They are living in shelters because they have no friends or family. So this is disaster never seen before, and the state of Rio Grande do Sul is working hard, and this is a humanitarian crisis that will extend for some time. We still have some rains going on. Some places have been flooded, and we see that this will be a long journey of reconstruction of the state, as we have seen in Katrina, in the U.S., New Orleans. And we also some countries where part of the country is below the sea level. We see those climate events going on all over the world, but we see the solidarity of the people. In particular, here in Brazil, we saw people from all over Brazil helping the state of Rio Grande do Sul. So people are concerned to send us messages if we are doing well, if we are safe. At times of crisis, we have our principles, so we value people, we respect people. This is what we did in the first stage of the strategy. We tried to help people, so we stopped our activities and stopped manufacturing because we were concerned how people would travel, how people could go to work. They were concerned about their family, so it's not fair to ask them to go to work. This is something that we did in this emergency situation on the first days of the tragedy. We tried to provide equipment, machinery to, you know, release the roads. We provided fuel to some communities. We also donated some items, materials. We still have a campaign from distributors from all over Brazil. They have delivered their products to the states of Rio Grande do Sul. We also have some trucks that will be traveling for 60 days, and they will be delivering all the donations, in addition to the partners and customers that are also involved. The second phase was the sustainability, financial support to our workers that have been affected by the tragedy, so they can start to rebuild their lives, because 306 people of our company have been directly affected. And we are also donating some technology to the communities, like this drone here with a heat detection to locate people, because we had some landslides on the mountains in the Rio Grande do Sul area of mountains. And the third phase is the reconstruction of the state. All the support, social impact, support to the industry, entrepreneurship, and road infrastructure. We built some bridges together with some partners and suppliers. This is a long journey. We still have the support of all the civil society and the fire departments all over Brazil to rebuild the state, to have a more sustainable state, to review some concepts, so people can invest again and work again in the state. The state of Rio Grande do Sul and the federal government are helping. This is not only a part of the society, but also part of the government to take care of this. As I am part of the board of reconstruction there, we are trying to help the community. I only have to thank you, everybody who are helping us, people who are caring for us, sending messages, sending donations, and helping us to rebuild the state. I hope that you all enjoyed this event, and you can also look for our sustainability report. It is available on the social media, on our website. If you have questions, you can also pose those questions to our Investor Relations Department, and we will be working in our purpose to connect people, to promote sustainable impact to the society and create value to our stakeholders. So again, thank you all and success to everyone. This is a long journey. Thank you very much. Congratulations, Daniel. Thank you for your presence, your information, your words. So on behalf of Randoncorp, I would like to thank you so much, each one of you who were here at the venue. I would like also to thank everybody who were attending the event online. And you guys who are here on the venue, I would like to hold on a little bit more, so you can take a picture with our leaders. Experiences like these that we had here together with you, that reinforce our purpose of connecting people and wealth, and to create prosperity. Let's walk together to build tomorrow. Thank you very much. Good evening to everybody. Bye-bye.