Welcome to this conference call for the presentation of the financial results for the year 2025. The presentation will be given in Spanish, and there is a translation service available in English, as well as a translation service for the questions. The presentation summarizes the semester. You have heard by the Executive Chairman, Silvio González. We will also have a round of questions with Fernando Costi Pérez, and also the person responsible for this area. I would now like to give the floor to Silvio González to give the presentation. [Foreign language] Good afternoon. Thank you for attending this conference call presenting the financial results for the semester. As always, we will present a summary overview of the group activity, beginning with audience figures. It's a very complicated context, both in terms of the context of the audience but also the important context. The first half of 2025 has entered with a total audience of 26.4% for the entire group, which is 1.5 points ahead of MediaSet. Once again, this is a remote-watch TV group, and we've been leading seven consecutive semesters over MediaSet, particularly in television formats, despite the fact that we have one channel less. We also lead in primetime and also daytime audience figures. We're all the leaders in the time slot with high revenues, with a primetime figure of 25.7% share, which is two points ahead of MediaSet. The thing is to be the TV group that most people pass through every day with almost 17 million unique daily viewers. If we now look at each of the individual channels, then Antena 3 is the most watched channel for the seventh consecutive semester, with an audience share of 12.8%, which is 2.9 points above Telecinco. In primetime, we're 13.5%. We're also 3.7 points ahead of our main competitor. La Sexta, which is our second channel, ended this semester with an important market share figure as well. Forty-eight months ahead of it. That's 48 consecutive months as the third most watched private channel ahead of its nearest competitor. The four complementary additional channels have an overall share of 7%. In digital, Atresmedia consolidates its leadership among national audiovisual players in unique visitors, according to the survey, with a total of 23.1 million in the semester. We have ranked in seventh place in the top 10 of the most visited sites. Just remember that five of those companies are companies not related to the audiovisual industry. In terms of our video on-demand platform, Atresplayer, we reached the figure of 20 million hours of video and exceeded 700,000 paying subscribers by the end of June 2025. We currently had 710,000 paying subscribers. For Atresmedia Radio, we consolidated to almost 3 million listeners, according to the last EGM survey, with Ondacero making its record in the last decade. These are congressional achievements in terms of audience figures, in terms of our listeners and also our viewers, which have responded favorably with respect to the group's offer. Bearing in mind that the contract has been very complex, firstly due to economic uncertainty, largely fueled by the decisions of the U.S. government, and also uncertainty, which has also occurred in the first semester in Spain in relation to mobility, for example, which have not helped the performance, for example, of Ciudad Marquez. If we were to compare the figures with last year, you may remember in the first quarter of the first semester of last year, the first quarter of last year was exceptionally good, where the conditions were particularly favorable for these results. If we now look at the economic magnitudes of figures, total revenues for the group in this semester amounted to EUR 507 million, which is down 3.2% with respect to those obtained in 2024. In the audiovisual segment, audiovisual production revenues stood at EUR 469 million, which is down 3.8% year- on- year. Net advertising revenues of Atresmedia in audiovisual content, as you know, we now present as communication. We depend on the theory that we cannot separate, for example, TV and digital. Now, the development of all of these products is paying our joint fee. These revenues amount to EUR 391 million, which is down 5.1%. This is largely due to lower advertising investment, where the CPM value that they take is greater, particularly active in the same period as the previous year, such as automotive, telecommunications, beauty, and hygiene. In any case, thanks to our audience position and our commercial policy, we have managed to ensure that the price levels have remained at historical highs. Therefore, the downturn or the decrease in turnover was largely due to a lower volume of product and to a decrease in price levels. We also continue to increase our market share in TV and AVOD, advertising-driven video on demand in all of our markets, increasing our share. The content production and distribution division, as you know, is an emerging area which in recent years achieved significant growth, and it continues to do so. This semester, we achieved revenue of EUR 52 million, which is + 5.1%, driven largely to the increase in the number of AVOD subscribers in Atresplayer Premium in the last 12 months, with 80,000 new subscriptions in that period, and also on the sale of concepts to third parties. In what we call the other division, revenues reached EUR 26 million, which is largely in line with last year's figures, reflecting slightly lower activity in this area in events in the semester. Although this is offset by the increase in turnover in the corporate ventures perimeter with Winnerbox and Pazzi. Radio activities is the next point. 2.5% increase, or there's been 2.5% growth in the radio market with total revenues of EUR 43.43 million, which is 4.7% up on opening this year. As regards total spend, total OpEx stood at EUR 44.232 million, which is 0.1% up on last year. This reflects the group's efforts to offset an inflation or, let's say, increase in spend with saving measures. EBITDA of the semester stands at EUR 85 million, and net profits reach EUR 64 million. Furthermore, another relevant point is our positive net cash position at the end of the semester, standing at EUR 65 million. That's after the payment of the complimentary dividend and the extraordinary dividend payment, which was largely as a result of the sale of our participation in FIBA. This past position, our forecast, at least, is that this past position will improve in the second half of the year, largely because of the discrepancies that existed with respect to the deduction of tax losses. As you know, in the Supreme Court, we won the case in this regard. As a result, a payment of EUR 36.9 million for the period 2016 to 2022 has been ruled in favor of Atresmedia. The amount of EUR 8.7 million has been accounted for in this first semester, but this is not reflected as cash because you haven't received the payments yet. This has also been done because the audit recommended that we should follow this criteria. Furthermore, we're also awaiting a positive decision in relation to an additional EUR 7 million, or EUR 97 million, corresponding to the tax loss that we were unable to deduct as a result of the Montoro Rule decree. There was interest in our favor of approximately EUR 2 million, which we are looking to receive in this respect. As regards the shareholder return, the semester results have been very good, with share value increasing by 50%. We can also take into account the dividends that have been paid out in this period. Shareholders would have received a return of almost 29%. Describing some of the lines of activity and some of the decisions that we've taken, which were notified yesterday, we have continued along the line of trying to reinforce and bolster our traditional business. We are on the right track, in our opinion. As you know, the audiovisual market has suffered a little in the first semester of the year. We have acquired a 70% stake in Last Lap SL, with a written option of acquiring the remaining 25%. Last Lap SL was an important Spanish company in the management and organization of large-scale events, in what we refer to as the experiences market. It's had a turnover of more than EUR 30 million in 2024, with an EBITDA of over EUR 3 million, with growth in revenues of 45% in the last five years. Our idea with Last Lap is to launch an integration with our events area between now and next year to ensure that we have now the company with prospects of achieving EUR 50 million in turnover. This will make it one of the most important entities in the events sector in Spain. A large number of the clients of Last Lap SL are not customers of our group, so these revenues are not current. This offers good prospects for growth in both directions. It also engages in international operations, which accounts for 16% of its operations, fundamentally in Portugal and Dubai. Growth has always been customer-driven. We do not have any interest in opening up delegations or offices. I think in this respect, in places where we already have a high level of activity in this area. Another important acquisition has been Atresmedia's increased position in Actuality, the digital media outlet that seeks to inform through professional networks, largely news-driven. We've increased our funding from 3.4% to 5.3%, making us one of the majority shareholders. We've also acquired 15% of Plan Savano. Also, as part of our strategic plan in the content area, we aim to participate more in small production companies, which will allow us, first of all, to be close to talent and support talent in this respect. This will also be supportive for our series production because only we have these companies close to our activity. We've also acquired 15% of Play’n Sabado. This is actually a production company, and our interest in Play’n Sabado is to, let's say, increase our penetration in the new production company areas. We've got a 15% stake at the moment. We consider this to be one of the most valuable sort of assets, let's say, that's increasing its value. They have a good knowledge of the content ecosystem. In addition to being profitable through these types of divisions, it also ensures that we are close to content or the content segment. Following on from this analysis of the first semester of 2025, now we can look at what our forecasts are or outlook is for the rest of the year. It's obviously not very difficult because things occur from day to day. With the increase of our totality of the system, we believe that the second half of the year will have some positive things for us. You have to remember that there was a very negative impact of the flash floods or the DANA in Spain last year in the autumn period. This affected the audiovisual sector and television sector in specific areas. We believe that that segment will recover in the final quarter of next year. We believe that the second semester of this year will be significantly better than the first half of 2025. We expect that certain regulatory aspects will be clarified, particularly in relation to mobility and the automotive segment. We will have to determine exactly what their communication decisions are and which type of products those industries would like to commercialize or market. In this respect, one thing that we have to do is to improve in the second semester. Along similar lines, we have to continue to be very rigorous in cost management terms. In a less vibrant market, we have to be comfortable adapting to the needs of that market. From a financial perspective, we consider that the group's financial position will continue to be very good. The forecast is to remain close to a position of EUR 50 million-EUR 70 million by the end of the year, with a dividend charged and also this dividend that will be paid in December, an interim dividend. We have to remember the disbursement of July is EUR 17 million for the acquisition, 7.5% of Last Lap. We obviously hope to significantly improve our cash business if, of course, you receive the payments from the tax authority for EUR 37 million, plus an additional EUR 8 million corresponding to financial expenses because we haven't received those, and they're not reflected as part of our cash accounting program. Again, the idea is to maintain audience figures, our quality product, and reinforce our position as benchmark leaders in the Spanish media market, placing great importance on our quality on media position, particularly in the content area. We are aware of the importance that we have and also our responsibility with this obligation within Spanish society, which is a democracy, which is ruled by the rule of law. We have developed a strategy which reflects our understanding of content production and distribution as a digital channel without divisions between analog and digital. We believe that our transitions to digital are some things we've already completed, and this is an essential part of our strategy. That Atresplayer platform in the AVOD market and also the SVOD offer is fundamental to ensure that we can provide quality content and at the same time generate flawless revenues in broad markets. That is basically our position, the position that we have communicated with the area. Although there's not much more information I can give you, I do tend to be in a position to be able to sign an agreement with one of the main important streaming providers in the U.S., in the Americas, with integration in Atresplayer. This will be very much in line with what is happening in other European audiovisual organizations. By December, we hope to be in a position to communicate the agreement that we're about to conclude. What else? We consider that Onda Cero is a benchmark radio platform, radio channel. Radio has been operating excellently in terms of revenues. We don't anticipate any changes, and we expect that the market will continue to respond positively. We hope to continue to move forward in line with that market. We've also tried to see whether we're able to improve our strategic position and reduce our dependence on traditional business. This is also reflected by our investments in OHS and our most recent investments. As regards to Fever, you know that is a proceeding on course in accordance with our strategic plan. Our position is currently at approximately 6%. We'll have to see how that evolves and also look at what type of possibilities Fever offers us in the future. With Fever, we will continue to be a benchmark investor. The idea being to help the company to grow, become bigger, and also more profitable. We believe that important synergies exist between Fever, which will be developed further in the future. That is the position of the situation that we see it. It's true that the first semester wasn't as good as we'd hoped. I think that we can be a little bit more positive with a view to the second semester because the comparison with respect to last year, it was very good in the months of November and December due to the impact of the flash floods in certain parts of Spain and the impact on certain different segments. Thank you very much. We'll now move on to the Q&A session if there are any questions or comments from the participants. Thank you. [Foreign language] Ladies and gentlemen, we will now begin the Q&A session. If you wish to ask questions, please click on asterisk five on your telephone keypad. If you would like to give an opinion, asterisk five at the same time. Ensure that your sound is enabled before you ask your question. Our first question comes from MG Jowetts from Mobile Securities. Please ask your question. [Foreign language] Good afternoon. I have various questions. I've got one doubt. The first question is, you haven't included the EUR 47 million-EUR 48 million that you will obtain in the lawsuit with the tax agencies in the net cash guidance. Do you expect to collect this amount in the short term? [Foreign Language] Thank you for the question. We've only included the income statement. We've only included the interest. The collection forecast includes the interest of the amount. Once the tax agent settles this amount, it will have to include both amounts. Unfortunately, the audio is cutting out. I'm not receiving the audio correctly. We're not exactly sure when we will collect these or receive these figures. Once we collect the full amount from the tax agency of EUR 47 million, we will record this as a payment in cash in our account. Has the question reached you? Do you have another question? [Foreign language] In principle, in the statement, I get the feeling that the next question is also related to this. The second question I have is, when you collect this amount, what plan do you have? What do you plan to do with this €48 million? As distribution, is it an extraordinary remuneration or something, or undertake a new acquisition? [Foreign language] The Board of Directors will have to decide once that occurs. Since we don't have the cash yet, we're not exactly sure what we'll do with that. We haven't had a discussion with the corresponding decision that will be taken, whether we will consider undertaking an investment in the option that that blocks shareholders. Again, we will report back to the shareholders because it's a decision that has to be taken by the Board once time comes, and we haven't made any decisions taken yet. [Foreign language] As regards to the M&A, do you continue to see important opportunities in this regard regarding mergers and acquisitions for the second semester? [Foreign language] Yes. We have seen some operations that, for us, could be relevant and important for the group. At this moment in time, we're unable to give any further details or any assessments of those opportunities. [Foreign language] Two additional questions, if you'll allow me. You talked about market recovery in the second semester of the year. With the recovery forecast, do you think that you will be able to achieve what you've indicated in the guidance regarding revenues and expenditure? [Foreign language] I think it's currently 4.6% lower than the initial forecast because July wasn't a good month. It hasn't been a good month so far, with a decrease, and this has had a relevant impact, of course. What we do forecast for the period September to December is that growth in the audiovisual market will increase or will be at around 5%. Why do we believe this? Because the impact of the flash floods in Spain last year was very significant. This year, we don't expect that to happen. It had an impact last year in the months of November, December that was very strong, leading to a 7% decrease in activity or revenues. That impact won't occur this year. We hope it doesn't occur this year. In terms of our conversations with advertisers, particularly from the automotive and telecommunications segments, they also reported a very severe impact of the bad weather last year. They informed us that they expect the investments that were made in the first semester and that were planned for the first semester and were not undertaken will be carried out in the second semester of the year. For those two reasons, we believe that we will end the year with a slight increase in potential revenues compared with last year. [Foreign language] Perfect. Thank you very much for those answers. That's all. Thank you. Thank you. [Foreign language] Ladies and gentlemen, I would like to remind you that if you would like to ask a question, click on asterisk five on your telephone keypad. It seems there are no further questions at this moment. I would hand the floor to David. [Foreign language] Thank you very much. Thank you very much for following this conference call, for connecting. If you have any questions or any doubts or require any additional information, then you can contact the investment department, and they would be delighted to attend and help you. Atresmedia would like to wish you a good holiday, and we'll see you when we come back from our holidays. Thank you very much, indeed.