Thank you so much. Let me try to do it properly. Okay, first of all, and before we start, I want to thank our stakeholders for being here today and for being with us the last few years. I would also like to thank our Chairman for creating and boosting this amazing company, and especially for trusting and pushing us to keep growing the company. It's an absolute pleasure to lead the more than 800 professionals that today grow up the Audax Group. Before we start, let me set the scene. Today is not about numbers. Today is about the vision, the amazing journey that brought us here. Today is to try to explain the new era of the Audax Renovables company. Audax is a vertically integrated renewable energy company listed in the Spanish stock market. What does vertically integrated mean? This means that all the energy that we produce in our generation assets is directly sold to our customers. A pure IPP needs a final customer to sell their energy. Audax has the final customer. We ensure that all the energy that we are going to produce is pre-sold to our final customers. We have solid and consistent financial results. We have more than EUR 2 billion total revenues. We have more than EUR 200 million gross margin. Sorry. We have more than EUR 100 million EBITDA, and this consistently. All this with a healthy debt ratio of less than three times. Finally, let me explain to you the main two business lines that we have in Audax. First of all, green energy generation, where we have more than 325 MW of installed capacity. We also have the supply business, where we are supplying more than 16 TWh per year. In a nutshell, we love to say, and as my Dutch colleagues usually say, we are the biggest of the smallest and the smallest of the biggest, which means that we are flexible but stable. We are adaptable but solid. We also are super ambitious but responsible. We love to explain our history within three main phases. We started in 2009 with our organic growth in the Iberian market. We were pounding the pavement and knocking doors, and we were super successful. This success allowed us to go into the next phase, the internationalization of the company. There, we were acquiring companies across Europe. Later on, my colleagues will deep dive in the Hungarian case, in the Dutch case, and in the Fersa case. Now let me point out that in 2014, we acquired a portfolio in Italy that at that time was providing us EUR 1 million EBITDA. Now, Italy is providing more than EUR 15 million per year consistently. Another acquisition that we are super proud of is the acquisition of UniElectrica. There, it was a strategic approach to consolidate the Iberian market. Also, we were acquiring a new business model, a new commercial model. And believe me, this was extremely profitable for us. In 2021, after COVID, the worst crisis ever in our industry came up. This forced us to enhance our corporate operations. What does this mean? We were rebuilding, redefining our internal processes and procedures. This was what allowed us to successfully navigate through the energy crisis. We left, as I said, the worst crisis ever in our business, doubling our EBITDA, halving our debt, tripling our installed capacity, and growing our portfolio supply to more than 16 terawatt-hours. Moreover, because of these corporate operations, we reached a market access agreement with Shell. More on that later. Today, we are here to start a new era for Audax Renovables. We will start it through the explanation of our strategic plan for 2030. Sorry. These slides summarize our business model. It stands in four main business areas that reinforce each other and allow us to deliver value across the entire value chain, the energy value chain. First, 100% renewable energy generation that demonstrates how committed we are to sustainability and to energy transition. Secondly, the energy supply. This is what powers the economy, and it's exactly what we do. And how do we do it? We do it through diversification. We diversify per customers, per commodities, and per countries. Third, what we want is efficiency, and it's the base of our business, the efficiency. We deliver products and services that go beyond the energy supply. It's exactly what creates value for the customer. Finally, I lost my—somebody put—thank you so much. Finally, technology is becoming the backbone of the Audax Group. Believe us, in the near future, Audax will be an energy tech company. Altogether, it makes Audax more flexible, more adaptable, and stronger. As I previously said, one of our main strengths is our diversified revenue model. This diversified model ensures resilience and sustainable growth even with market volatility. As you can see, we diversify per commodities, almost even split, per customers and segments, per technologies and generations, exactly the same, almost even split, and per countries and regulations. As I usually say, my management team and I, we are super risk-averse. This diversification demonstrates our risk mitigation scheme. This provides stable returns and steady long-term growth. Summarizing, we are not inventing the wheel, but diversification lowers risk, and it is exactly what we are doing. Now let me hand over to Mark Ferriolo, our Head of Generation. Thank you, Oscar. Okay, hello, everybody. Now, I want to deep dive a little bit on the two main business lines that we have in Audax: generation and supply. Let me start with generation. Generation plays a key role in the Audax strategy because it's a tangible proof of our vertical integrated model. Today, we have 1 gigawatt of portfolio with projects in different stages and in six countries. As Oscar said, we have a well-balanced portfolio, 50/50 between power and electricity. Today, we have 325 megawatts in operation that allows us to generate close to 500 gigawatt-hours of green energy every year, providing stable and recurrent cash flows. Regarding financials, the EBITDA of the generation division is around EUR 14 million, and it represents around 12% of the total EBITDA of the group. Beyond the figures, what really matters is what these assets represent. It represents long-term cash flows and recurrent EBITDA. It represents a tangible proof of this vertical integration that we are always talking about and resilience through the market cycles. In summary, generation gives us stability, sustainable growth, and value creation and returns for our stakeholders. The evolution is clear. Five years ago, we had 91 MW in operation, full based on wind technology, and generating around 200 GWh of green energy. Today, we are generating more than triple, more than double of this energy, close to triple, but more than double of this energy. In addition, we had invested more than EUR 300 million of CapEx to acquire, develop, construct, and put in operation a portfolio of green energy in several geographies. I would like to highlight our main strength, which is that we have full visibility over the execution pipeline because we do not have any CapEx commitment. We have flexibility, optionality, and the ability to invest only if the returns and the market conditions are optimal. Moreover, the generation is a natural hedge for our supply division because all the energy that we generate, then we transfer this energy to our supply business because we have the demand, we have the clients. All this energy will be for our final customers. The next step is batteries. We are planning to install batteries in all the assets that we have in operation today to take advantage of the flexibility, to optimize the price curve, and to prepare our portfolio for the penetration that is coming, the energy penetration or generation penetration that is coming these next years. To conclude, we have the flexibility to invest in generation only if the return of the investment is interesting enough, if the debt to construct this pipeline is according to our financial discipline, so this three times debt ratio, under this three times debt ratio, and always with a PPA scheme. Always, we will have a PPA that will ensure this cash flow and this EBITDA. Now, let me jump to the supply business that is our really core business. Supply is the division that gives us scale, liquidity, and recurrent profitability. The portfolio is also diversified. We are in seven countries, supplying 15.8 TWh over the last 12 months in more than 475,000 customers. The balance between both commodities is also split between electricity and gas. This allows us to adapt our value proposition to the different markets where we are. For example, in the Netherlands, we are supplying more gas than power. In Iberia, for example, it is an electrified economy, and we are supplying much more power than gas. Regarding financials, the supply division is giving us around EUR 100 million EBITDA every year, and it is more than 80% of our total EBITDA. Looking ahead, we still have enough room to grow thanks to our market position, our brand recognition, and our integrated model. The center of this slide shows it clear. Five years ago, we were supplying 10.5 terawatt-hours, and almost 60% of this energy came from Iberia. Today, we can say that we are a real multinational. We are supplying 16.6 terawatt-hours in four main geographies. Today, the weight of the rest of Europe is more than 70%. Even this reduction in PODs, due to our focus in the B2B segment, the average of megawatts supplied per POD has increased more than 50%. This is thanks to our commercial strategy. Yes, it's less PODs, but it means less risk, more profit, and a more robust portfolio. How have we achieved this? Thanks to our strong risk management that stabilized our margins, a trusted brand that increased the loyalty of our customers across Europe, and a clear principle: think global and act local, the local agility with the financial strength of a real international group. Yeah, obviously, we want to continue growing, as Oscar said, and we will grow through new sales channels, new customer segments, new value-added products, and all together with technology and digitalization. Sorry. As we saw in the beginning, our story is a story shaped by acquisitions and integrations. Now, together with Kees and Gabriella, we will explain three emblematic cases in Audax. Let me start with Fersa. In 2016, there were two main events. The first one was the acquisition of Fersa. The second one, and probably most important, is that I started in Audax as an intern. No, seriously, in 2016, we took an important step forward with the takeover of Fersa. In that moment, Fersa was a small pure IPP listed in the Spanish stock market. Audax was a small retailer supplying energy to a few countries in Europe. We saw in Fersa the perfect partner for this journey. Why? Two main reasons. The first one is that after the integration or after the acquisition of Fersa, we became a vertical integrated company. We had assets that could generate the energy that then we sell to our final customers. The second one is that thanks to this reverse merge with Fersa, Audax became a listed company, improving our internal policies and procedures. This acquisition is the seat, or was the seat, of the Audax that we know today, a single platform that combines generation and supply, a more robust, more diversified, and fully integrated company ready for the next phase. The progress is clear. We started with 185 MW, and today we have 325 MW of installed capacity. We moved from this minus EUR 31 million of negative net results, and today we have a positive one. We have diversified our technologies. In the beginning, we only had wind. Today, we have wind and PV. We have expanded our footprint over six countries. The most important thing, the strategy. We secure all the energy through long-term PPAs, obviously with our final customers because today we have customers as well. These long-term PPAs ensure EBITDA and cash flow for the future. As I said, batteries. We are planning to integrate batteries, and we will be the next phase of the energy transition to optimize our generation curve, to capture value from the flexibility markets, and to increase the resilience of our portfolio from recovery to growth and now to innovation and resilience. This is the journey that defines Audax. Now I give the floor to Kees that will explain the Netherlands case. Thank you. Yeah, thank you. I feel very honored to have the opportunity to give you all the ins and outs of the Dutch energy market as well as the position of Audax Renovables in the Netherlands. Before going into details, let me give you some general information about the Dutch energy market. The Dutch energy market is a fully liberalized market, on the other hand, also quite regulated. It's a competitive market and consists of 52 companies with an official supply license. The total demand in 2024 was 120 megawatt-hours of electricity and 300 terawatt-hours. This explains the position of gas in the Netherlands. Gas is a traditional product in the Netherlands, that's explaining why also we as Audax in the Netherlands have more gas than electricity. In general, we have 8.4 million household connection points, and we have 2.3 million of PODs in the B2B area. The national energy mix in the Netherlands is approximately 45% of renewable energy, and there is the trend of the government to increase that in the coming years up to 2030 to 2035 to 85%. Considerable investments are also made in order to improve the national and local network and grid in order to solve the, at the moment, big problems regarding the net congestion and the imbalance in the total network. The acquisition of Maine. This happened in 2017. We are a company that serves the B2B market to SME customers as well as real estate customers. Based on an almost non-existing market position in the Dutch market with an EBITDA of approximately EUR 8.7 million and 62,000 connections, Audax acquired a quite stable, nice-working company. In the, let's say, last five to six years, we spent time on creating a strategic plan in cooperation with the Audax Group, an ambitious plan with, let's say, a total redefinition of the way how we go to market. We focused on the way how we position ourselves, and basically, we decided to go for a more direct customer model. That model we call the customer intimacy model. That means we are very close to customers. We spent a lot of time with customers. We advise customers. Commercially, we translated that role in the energy director, the energy director for the customer, giving full attention to the challenges customers have in the Dutch market, which is imbalance, congestion, and a lot of issues related to energy transition. The strategy worked out quite well. We are proud that we are now in a position to say, and Oscar already mentioned, and by the way, which is the same for the group as well, that in the Netherlands, we are the smallest of the biggest and the biggest of the smallest. That is a great position because you do not want to be part of the big incumbents. We are quite bureaucratic and very low and very, very slow. We are becoming the biggest of the smallest, creating now the fifth position in the B2B market, which is really a position where we are proud of, with an incredible profitability of EUR 47.3 million of EBITDA. Our connections also doubled from 62 to 125. Our volume from 2017, which was 3.4 terawatt-hours, now at the end of this year, we hope to get to 7 terawatt-hours, which is incredible. We are proud. We are proud. What are the main drivers of this? The main drivers is a combination of facts. First, having a highly motivated workforce. We have a very high employee net promoter score of +52. This organization puts us in the position to serve customers also in a very intensive way, which also created a high customer satisfaction of approximately 7.9. Also, having customers, high-profile customers, such as H&M, KPMG, and Burger King, and lots of others, including big multi-size customers, where we are in a great position to manage and to serve multi-size customers, including the combination that we have a very trusted position with our solid sourcing partners based on the strong credit position of Audax in the Netherlands as well as the Audax Group, which puts us in a position to be competitive and to offer flexible and interesting rates. Of course, we do not stand still, although we are proud of the results, but we also think about innovation. I already told you that the Dutch energy market characterizes itself by being very unbalanced. There is a lot of congestion in the Dutch energy market. We have a lot of customers coming to us and asking, "Can you help us with managing the fact that I have input of, let's say, renewable energy, but the network is very imbalanced?" We are helping these customers, and we are developing a product which we call the Balancing Responsible Partner License. We are developing forecasting modules in order to manage the input and the output on the grid based on artificial intelligence solutions, which gives us an ability to forecast, let's say, the demand and the input of the customers. This license of the BRP is going to be live at the 1st of January 2026, which we developed in the last seven to eight months. At the end, I can say we are proud, and we are very happy and, again, proud of being part of Audax Group. We are looking forward to a very healthy and continuous growth in the company. I hope you enjoyed the Dutch success story. Now I'll give the word to Gabriella. Thank you, Kees. I need this one, I think. Just thank you very much. I would like to continue with the Hungarian success story. This is the third in our success stories. This was part of the international journeys of Audax Group. Before I will start this success story, please let me introduce a little bit the Hungarian national market as for the electricity mix. When Audax entered into the Hungarian market, the energy mix was totally different than right now. We were mainly based on nuclear, coal, and gas. Right now, you can see that the penetration of the solar has reached that 45%. This was one feature of the company that the electricity and the solar penetration was extremely low at that time. The other feature of the company and the whole country at that time was that there were several dominant players in the market, and they controlled the whole market at that time. Eon, MVM, and big giants were there, and they significantly played a very dominant role in this country. Taking an electricity mix and taking some very controlled market, we are here in 2020. What happened? Far away from Hungary, two big electricity giants, LWE and Eon, decided that they are making a big international asset swap deal. As a consequence of this, Eon was obliged to sell the electricity retail portfolio in Hungary. What was the position of Audax in this regard? The timing was good. The target was perfectly a strategy pick to Audax because Eon was selling the SME and the B2B large segment. Audax decided to go for it. It was a big surprise for the Hungarian market. Audax won the tender. Then some challenges came. First, it was the organizational challenge because due to the very specific curve of our transaction, Eon's presence remained in the Hungarian market. They just sold the electricity portfolio in the Hungarian market, meaning that we bought a chair practically just with one leg. We had to establish the whole company from scratch. We had an SME and B2B large portfolio, but we were missing the IT, the finance, the energy procurement, and the portfolio management leg as well. We had to make it complete. It was an organizational challenge. Of course, the Ukraine war came, and it was another challenge, but we met it exceptionally. This was the organizational market. What about the finance? You can see that we have bought this company. The EBITDA was minus EUR 4 million. It is not a good result, so we had to do something with it. What was our aim? Of course, we wanted to see this company a profitable company. We switched our focus from volume towards EBITDA. This significant change made a result. It was a significant turnout, and we reached EUR 15 million EBITDA within some years. It is a great success. What was the behinding force? What was the anchors of these key elements? One of them, the B2B large segment. What we were doing here? We were cherry-picking, and we selected the best customers like banks, international big companies, pharma companies, and we kept them in our portfolio. As a diversification of risk, we kept the B2B segment, and we kept the very massive SME segment at the same time. Additionally, we were able to capture, we were able to acquire one of the biggest Hungarian customers called Samsung with almost 1 terawatt-hour consumption per year. We had to establish the whole gas business portfolio from scratch. We did it for the B2B and the mass market segment as well. This enabled us to have cross-selling. We are able to sell electricity and gas together. Where are we now? We have a very strong, very stable, and very profitable Hungarian platform. This company is a high-seek company right now in Hungary. Of course, as Kees said, we have ambitions, of course, and this position allows us somehow to embark on the future as well. We have found out, of course, some strategic initiatives as well. What are our initiatives? What is the pillar of the next steps? First of all, we would like to enhance, of course, the capability of our procurement portfolio. We have a very strong cooperation with Shell. In line with the EU legislation, we would like to rely on, even in Hungary, on the Western-based European gas supply as well. This is one of the main important things that we have to have a very good and lucrative competitive procurement side. What we can do on the aggregator side, as Kees and Mark said, in Hungary, as I mentioned to you, the solar penetration is increasingly reached this very high profile. A new wave of batteries is coming into the Hungarian market as well. We decided to integrate this aggregator business in Hungary, and we are going to acquire this business opportunity as well. We would like to sell for our customers aggregator services and supply together. I think that this will be a competitive edge for us as well. If we scrutinize the other part of the company, there is the B2B large segment. What can we do in this respect? We have a very lucrative B2B portfolio in Hungary, so we would like to enhance, and we would like to keep them on board. We have some kind of very sensitive, tailor-made, and hyper-personalized model for them. In the Hungarian market, there is a wave we would like to grab as well because big international leading companies are arriving into the Hungarian market. You probably heard about Chinese-based companies like CATL, BYD, and South Korean companies like Samsung and others will come right now in the Hungarian market. On top of that, we are waiting for some US-based companies as well. Right now, we expect that the Hungarian total consumption will be 54 TWh per year. This is a big room for improvement as for the production and as for the electricity consumption in the Hungarian market. What we are going to do in the SME segment? We are going to maintain this SME segment. It is very lucrative as well, but we would like to start with this IT transformation and AI digitalization procedure. I think a data-driven model will be the new future, and we would like to use it on the mass market firstly. What about the other part of the company? We would like to take some kind of social responsibility as well. We are supporting the energy communities in the Hungarian market, but at the same time, we are going to supply them for our energy. We have a very good past, or I would say we had lots of challenges. We have a very healthy and good presence, and we have a very visionary future. What is the driving force behind this? I have to repeat, Kees, a little bit. A very dedicated staff behind us. It is very important. A very strong and persistent salesforce. A very market-reflective leadership. I would like to highlight that we have always a backup, meaning that the Spanish headquarters were always supportive and present in our country. To put it in a nutshell, Hungary totally represents and perfectly what we are doing in Audax. Create value for the customer. We respond quickly and intelligently to the market challenges, and we are able to make profit where the other big players are dominant. In short, Audax identified a very good opportunity. Grab it and make profit on it. Personally, if you are asking me what is my belief in this regard, I'm really dedicated to support this journey for Audax, and I pledge that I will deliver a future-proof and profitable company for you. Thank you very much, and I invite Óscar to continue. Thank you, Gabriella. Easy, right? No? I think that it's only change one slide, and then you can multiply an EBITDA of EUR 8 million to more than EUR 45 million, and a negative EBITDA of EUR 4 million to more than EUR 15 million. If somebody asked me if this is, I would say, if this is luck, I would say yes. It's the luck to have the best team in each position. I'm super proud of the team that we have. Let's get on with the financials. As we said, I'm not going to go into details because you have our financial, we published our financial results quarterly. Let me emphasize a couple of major points here. First of all, and regarding revenues, total revenues are not a relevant performance indicator in our business. I spent a bit of time on it because it's important. Because in the generation business, because we have an internal PPA through the final customer, we ensure the revenues and we ensure the margins that our generation division is going to reach. In the retail business, the margins are a markup on top of every energy unit sold. It means that, let's put an example, if the energy prices decrease, the purchase cost will decrease, but our margins will remain the same. Exactly the other way around, if the energy prices increase, the revenues increase, the purchase costs increase, but the margins will remain the same. Second main point, we double the EBITDA. We double the EBITDA from the level of EUR 50 million to the level of EUR 100 million EBITDA. What I think that is more important in this achievement is that we reach it consistently. We make it recurrent. From my point of view, we are ready to take on new challenges in the future. Regarding debt, let me point out three main relevant milestones regarding this, and we are super proud of. First of all, we have a consistent debt ratio of less than three times. We have EUR 200 million gross debt reduction in the last four years. Also, we have a stable cash position that ensures two years of debt maturities. All this is supported by a strong EBITDA to operating cash flow of more than 70%. I would like to include here that this EBITDA to operating cash flow of more than 70% will be recurrent because of our market access agreements across Europe. Finally, we are sure to say that our funding sources and prudent financial management supports our long-term growth. I do not want to get too technical, okay? I don't also want to overlook what led us to double the EBITDA on a recurring basis. Give me one second. We operate a robust line of defense risk management model with committees for risk regulation and compliance. We have clear priorities. Our priorities are secured supply terms, super important, reduce exposure to market risk, also super relevant, and strong cash stability. This is what we are doing, trying to ensure our priorities. I never tire to explain that our exemplary risk governance is one of our competitive advantages. Finally, we are happy to say that we are in advance talk with Shell in order to enlarge our market access agreement with them. I would like to thank them for being here and supporting our plans for the future. Let's get on what really brought us here today, our strategic plan. Before I hand over to Pablo, I will give you the key messages of this plan. As you may hear in our introductory video, we double the EBITDA. We are going to double the EBITDA again to more than EUR 100 million EBITDA per year in 2030. We increase our gross margin to more than EUR 350 million. We will reach a consistent net result of more than EUR 85 million. We will grow our portfolio to more than 25 terawatt-hours per year. We will grow our installed capacity to more than 500 megawatts. All this with our financial discipline. All this with less than three times net financial debt EBITDA, less than three times debt ratio. Let's deep dive on it. Please, Pablo. Thank you, Óscar. Okay. In less than 10 minutes, I will tell you how much money can you make as an Audax investor. Before diving into the numbers, let's explore together the future of Europe in the context of the energy sector. Let's start with gross domestic product. Gross domestic product is an important metric to us because we power the economy of Europe, literally. Gross domestic product will increase by 8% by 2030. Power demand, in specific, will increase by 30% by 2030. Additionally, the renewable penetration will increase up to 70%. These are estimates given by the European Commission. Why is the energy demand growing so fast, faster even than GDPs? Two main reasons. One, existing demand is shifting from fossil fuels to electricity. You can see this as an example in the uptake of electric vehicles. Second, the new demand is becoming electricity intensive. You can see this, for example, in the data centers and in general in the AI economy, which consumes a lot of electricity. I'm talking about AI. This is 2025. In the strategic plan, we must talk about AI. AI market size is projected to increase by 45% per year up to more than, well, almost $2 trillion economy. This is an opportunity to, yes, incorporate AI in our processes and make them more efficient to stay competitive. In order to win, we need to participate in this enormous growing market. We need to sell services based on AI. This is the key to win, and Audax is positioning themselves to win in this market and the energy market. Let's look at what we are going to achieve when we take into consideration these trends and project our growth on top of it. As Óscar has mentioned, we are planning to reach above EUR 180 million recurrent EBITDA. How are we going to do this? First of all, we are going to increase our installed capacity, resulting in additional EUR 6 million of recurrent EBITDA coming from generation. Second, as I have just mentioned, the market size is growing. Power demand is growing. Just by keeping our market share stable, we will be able to grow additional EUR 20 million. Where are the EUR 40 million that are remaining? The EUR 39-EUR 40 million will be stolen from competitors. This is our target. I will tell you later about how we are going to steal them, what are the strategic advantages behind our growth that differentiate us from competitors. Before that, let's explore how the 2030 Audax Renovables looks in terms of contribution from our different businesses. You can see on the right the split across geographies and businesses expected by 2030. Please note that the EBITDA market will grow up to EUR 40 million recurring EBITDA, but this means that less than 20% of our total EBITDA will come from Spain. This is an important remark. We are an international corporation. Finally, just to mention that the growth will be concentrated in geographies where we have a small market share, nevertheless a competitive advantage and a profitable business. Let's talk about these competitive advantages. As Óscar mentioned, our business is composed of four pillars: energy generation and energy supply, which are our cash cows. They generate EBITDA. They generate cash flow, and they allow us to invest in the future. Let's talk about the future. These are our competitive advantages, our identity. We are talking here about services and energy technology. We plan to become a multi-utility by 2030, and we plan to enable our services backed on proprietary technology. More on this later. On the EBITDA composition on these four businesses, about 60-70% will come from the supply business, supplying power and gas. From 10-15% will come from generation of the total EBITDA, and then we will have a 10-15% of EBITDA uplift coming from these tech-enabled services. Let's deep dive into each of these businesses and tell you the future of them. Let's start with energy generation. Energy generation will increase to EUR 20 million recurrent EBITDA, doubling the EBITDA, basically. What we are planning to do is to increase our installed capacity up to 500 MW and our energy generation to 850 GWh per year. How will we do this? We will continue our trend of installing capacity in geographies where our company already supplies business, supplies electricity. Sorry. This is called vertical integration. In particular, most of the installed capacity that is coming on the pipeline under construction, I say situated in Italy, but this does not mean that we are not open for opportunities. We are open for any opportunity, especially in the geographies where our company supplies energy. Next, we plan to repower assets near end of life, in particular, wind assets. This will allow us to generate to the economy this amount of energy. Last but not least, we are planning to pair our solar assets, which are predominantly today in Spain, with batteries, battery storage. Let's talk about storage. Storage is an important technology. It's a buzzword today. It's very trendy, and there are reasons for it. There are specifically three reasons. If we install batteries in our generation facilities, this will happen. One, we will fend off cold elements. Two, we will arbitrage negative prices. Three, we can participate in ancillary markets offering ancillary services. This is a new revenue stream. This is why storage is so important, and this is why Audax is already working on it, and we have applied for authorization to install our first battery in a PV park near Toledo. Now, we have talked about growth in generation. Let's talk about growth in the supply business, which is carrying most of the EBITDA growth. Yes, supply will grow faster. Supply business has high returns on invested capital. The supply business is projected to increase up to EUR 160 million of recurrent EBITDA. To achieve this, we will enlarge our portfolio to up to 25 terawatt-hours of energy supplied. How much is 25 terawatt-hours per year? If you take, let's imagine that you have a supplier that supplies the energy of the whole economy of Estonia, Lithuania, Lithuania. That's 25 terawatt-hours. Imagine a company that has the monopoly over Ireland, supplying the whole electricity to all industries and households. That's almost 25 terawatt-hours. 25 is a big number, and this is what we are going to achieve by 2030. How will we do this? We will reinforce our leadership in the SME market, as my colleagues Gabriella and Kees have demonstrated. We are already leading this market in the respective countries. Also in Spain, we are very known for it, and in the rest of geographies. We will continue reinforcing this position by adding added value services to our portfolio of products. More on that later. On top of this, we are going to attack new segments. We are talking here about mid-market. Yes, we are constructing and building new advanced products based on technology, as Gabriella and Kees have mentioned, aggregator services. More on that later. With this value proposition, we will tailor our solutions to their needs. Last, we are talking about growth across Europe. In order to grow, yes, we can add more value to our customers, but they need cheap prices, right? They need at least competitive prices. In order to grow sustainably, we need to get market access to these competitive prices across Europe. This is why we are in talks to extend our market access agreement with Shell. In February 2023, we signed an agreement with Shell for the Spanish business. This has been in the last two and a half years. This has proven a very profitable business. We have stabilized our cash, and we have got access to competitive prices. This is why we are in talks and in negotiation to grow this agreement towards the rest of Europe. On the one side, we will have, as a supplier, access to competitive prices across and ensure cash stability. On the other hand, Shell will have the opportunity to power our business, or at least a portion of it. Having said that, I'd like to thank Shell representatives for being here, but I need to remind them that we haven't signed yet. The negotiation push will come. Last but not least, one final remark to close the supply business chapter. Here we are looking only at organic growth. This doesn't mean that we are not open for opportunities, as in the generation side. We are open for exchanges, acquisitions, new market entries. I stop reading here. Okay, let's talk about what differentiates us, the services, and then we'll talk about technology behind it. Services. We plan, just by delivering new services, to have an uplift in the EBITDA of about 7%. Services are very important to us, very important. Yes, we are selling a commodity, so we need to differentiate us by delivering additional value. This will allow us to attract customers and retain them based on value rather than price. This ensures profitability and long-term recurrency. Next, we plan to have new services, but also a digital customer experience end-to-end to serve new generations. We have talked about some examples of services. One prime example that mirrors this aspiration is home automation. Imagine that you go home after a long day of work. The laundry is ready. You do not know when the washing machine started, but you have the certainty that it happened during the cheapest hours of the day. This technology is already possible, and this reflects the future of Audax, sorry, the near future of Audax. An additional example of what technology can do to enable new services. Imagine that you walk across the office or across your house, and the lights dim or light up as you walk. Imagine that the thermostats heat the rooms where your family is in or where your colleagues are in. Imagine office buildings that shut down the floors when nobody is in. These are all examples of what technology can do. How is it done? Basically, if you can analyze the Wi-Fi signal of the different rooms, you can understand this behavior and where people are in or not. Let me ask you a question. What is the best player that can position themselves to deliver this service? A player that combines technology with telecommunications. Ladies and gentlemen, let me announce to you that Audax is planning to launch its telecommunication services by early 2026. We plan by 2030 to have a portfolio of 30,000 mobile lines and 20,000 fiber customers. We are in negotiations with major network operators in Spain and Italy, and you will have news very soon. Let's talk now about the technology. Audax is reinvesting a portion of its net results into technology. We are building a proprietary platform owned by Audax. This technology, this Audax platform, will allow us to deliver the services that I have just mentioned. For example, we will enable customers to shift their consumption to the cheapest hours. How? This technology platform leverages artificial intelligence to predict the consumption patterns of each of our customers. We can help them through the Internet of Things to operate the industrial facilities and stop, or at least dim, their production speed so as to save energy. This type of new services is what this technology that we are building right now will enable us. Let's talk a little bit deeper about the Audax platform. The Audax platform is catered for segments. As I have explained before, the catalog of services is the objective of having a catalog of services is to better serve our clients, is to loyalize them, and to prefer us based on value rather than price. This is the value that we are going to deliver them apart from the supply of energy. For the platform for corporates, we plan to integrate these aggregator services, and it will be launched in early 2026, January, in the Netherlands, as Kees has said. We have a platform for households, also valid for SMEs, which is, you can see it on the screen, the application. This is a real snapshot. This will be catered for SMEs and launched by 2026. This is a working prototype. We are working on finalizing it. Finally, the platform for generation, it's now in the stage of design and will be launched as well, if everything goes fine, by the end of 2026. All these developments that I am mentioning here are not the future of Audax. It's the present and near future. Let's talk about growth. We are coming closer to the end. Oscar Santos has talked about growth. Yes, we're going to achieve double-digit EBITDA across our double-digit growth across our P&L. Revenues will increase by 10% CAGR, but Oscar said it's not that important compared to gross margin, which will reach EUR 350 million, 10% increase CAGR annually. EBITDA will grow up to EUR 180 million, CAGR again, the 12%. The net result will increase by 20% every year, compounding until EUR 85 million. We are talking here about money, and we cannot talk about money without reminding ourselves to the investors. We have to pause here, thank our shareholders and our investors for trusting us in the last years when the company was different, and for trusting now that the company is a multi-billion international corporation with proper risk management and proper policies to drive future growth. Talking about thanking our investors, we also want to talk about their remuneration. Two elements of remuneration here. The first one, the most important, is that we are committed to create value. We have delivered, we have promised results, we have promised to double our EBITDA, and we will deliver it. We have a success story of fulfilling our promises, so we will do it again. Next, dividends. Yes, the value creation needs to be redistributed. Distributions have been made year after year of EUR 15 million. We are committed to continue delivering value to our investors. The more scale we have, the greater the dividend could be. Next, but not least, I am proud to announce that today our Board of Directors has approved a share buyback program. Right now, today, we are buying back shares of Audax. Let me tell you some details about it. This share buyback program is structured as follows. It will be performed during 12 months, the next 12 months. We will buy up to 15 million shares and with a maximum of EUR 20 million. We hope you will be pleased with the actions taken, with the commitment that we have shown. Oscar Santos will have some final words to delight us. Oscar. Thank you. Here, I know. Okay, so final remarks. Let me take this a bit personal. Yesterday, on my flight here, I was thinking what type of company I would like to lead. If somebody gave me a piece of paper and told me, "Write down whatever you want," for sure I would go for a sustainable growth company in a growing sector. I would go for financial discipline to avoid all the risks, if this is magically possible. For sure, I would go for committed people with the same goals, going for the same. For sure, to be profitable, sure. Finally, if I can make my final wish, I would go for a social purpose. Last night in the room of my hotel, I was reading what I wrote. I realized that it is exactly what Audax does, what Audax is. We double our EBITDA. We grow our installed capacity. We grow our energy supply. We grow our customers' portfolio. We are a growing company. If you listen to what Pablo was saying, we are in a growing sector, for sure. I thought, "Okay, we have a healthy debt ratio of less than three times. We have sustainable operating cash flow. We have clear risk policies. We have full diversification. We have our financial discipline." I was thinking in the team, right? They have a lot of opportunities to grow within the company. They are super engaged to the company and also to the customers. They, let's say, have clear goals, obviously, yes. Profitability, take a look on the last financial results over the last three, four, five years. I think that I'm working in the company or I'm leading a company that is absolutely amazing. This is my point, with a clear future, with clear goals, with the right guys. Thank you very much for being here. It was an absolute pleasure to explain to you the company. Again, I would thank our investors, our stakeholders, Shell for being here as well. Thank you so much. I will hand over to Jordi to open the floor for a Q&A. Thank you, Oscar. We will put. Should we make it touch? No, I think that we can stand up when you address the questions. No, but maybe better the five of us here. Okay. If you are here, please, Kees, I can thank you, all of you, about your insightful presentation. I hope that all the people get the clear mission and strategic plans towards 2013. I think it's clear, and now we will open the Q&A session. First of all, before opening the floor, I will write here three questions that have been arrived through the streaming platform, and then you can choose who answered. The first question is, how much are you going to invest to launch the telco new business? Okay. Maybe this one is for you, Pablo, please. Thank you. Let's get a little bit on detail, on the telco business. There are many ways of doing business in the telco space. What we are choosing to do is to become a reseller, a white label reseller. This way, we avoid using any CapEx, no CapEx involved, and we retain the customer selling with our brand. Okay, yeah, perfect. Nice, short and. Okay, next one. Why has the Netherlands grown so much in the recent years, and what are the key factors? This is for you. Should I answer? Yeah. No, there is not one factor. It's always a combination. I think what we have been working on the last couple of years is we have positioned ourselves as the energy director. That's just a word. What does it mean? It means that we are close to the customer and that we are able to assist and guide our customers in the challenging energy transition in the market. The second one is the really physical work of the customer intimacy. We are close. We are really close to customers. We are getting compliments from customers that we are doing much more than the other incumbents in the Netherlands. We are taking the effort of going to customers to help them, to talk to them, to listen to them. Of course, competitiveness is also, of course, a role. We are also using and very happy with the relationship we have with our sourcing partners. We have a very healthy relationship with them, and we have very good conditions. We are using these conditions also to offer a competitive position in the marketplace. It is not only about price, but sometimes it helps. We do not want to be the cheapest, but we want to be competitive. Most important, I think, is still we, we all, is the people in the organization that make it work. Without the people, you cannot make a customer happy. I think this is the combination of why we are extremely lucky that we grew our position and we grew our profitability in the Dutch market. Thank you, Case. Okay, let me read one more. What kind of AI tool are you going to integrate in your business? The AI tool. Maybe Hungary can explain deeper about what we are developing there, right? Yeah, yeah. It seems it's an easy question because we analyze more than 50 business cases in this regard. What kind of AI tool are we able to integrate in our business? The quick win will be the call center, the Bitcoin actions, and so on. You have to make some kind of differentiation because AI is a buzzword right now. Machine learning, optimization, data science, these things are going together. When we started to realize what kind of need we have and what kind of AI tools we would like to integrate, we immediately realized that this is not the key point. The starting point should be in this regard that you have to be valid, clean data. Without data, you have not got AI-driven things, you have not got anything. First, we should focus on the data, and after you have data, you will have everything. I would answer such a question that first you have to focus on data. In this business, we have extremely lots of data, and data is the new oil right now. When I am thinking what kind of AI tools we are going to integrate into our business, I am not thinking about the AI tools to the energy business. I'm thinking how we can transform our company based on this data to find new directions which we can somehow use. It is not about AI, it is about data, and it is about the future, how we can use this data we have. Perfect. Okay. Thank you. Perfect. Now, if you want, we can open the floor. In order, you can raise your hand to ask anything. I do not know if there is a microphone right there. We get one, two, three. [Foreign language] Who has the microphone right now? Yeah. There? Okay. Hi. Thank you for the opportunity. Say your name and your company, please. My name is Ricardo Benedet from Banco Sabadell. Thank you. First thing is thank you for your presentation. Considering the importance for the group for the near future, I would like to know what is your commitment in the business generations for the next, let's say, five years period. Also the finance strategy for this. Okay, it's fine. The first thing that I want to remark is that we do not have CapEx commitment. We do not have a target, a clear commitment. If we look at the evolution that we are projecting from this 325 to 500 megawatts, and taking into account the repowering that we have in our wind farm that we have in Spain, the investment is around EUR 150 million-EUR 200 million. There will be no commitment. We will invest only if the three main points that I explained, it's a given. The first one is the return of the investment is enough. Enough for us is we will not accept anything less than 8%. The second point is that we want to put in problems our financial discipline. We will maintain this three times debt ratio. The third point is that we will continue investing in generation if we are able to sign a long-term PPA. It is something that we can because we have clients, as I said. Always, we will invest if these three points are okay. Another question? There. Here, there. You get. And you get. He is on. Thank you. Matthew Phillips from Shell in London. Thanks very much for the presentation. That was fantastic. Question from our side. Do you have any more expansion or acquisition plans in Europe and in any particular countries? I would take this one. The strategic plan that we explained today does not consider any inorganic acquisition. This is the main statement. If you take a look in our history, we have a successful history of acquiring companies and growing them. This is the evolution of the company. Now, once we stabilize our debt ratio, once we have clear goals to not increase, let's say, to maintain our financial discipline and not increase this less than three times debt ratio, I think that it's the right time, it's the right moment to analyze the market. In fact, we are looking for some targets across Europe, mainly without disclosing anything too deep, not in the Spanish market. Then leave it a bit open. Thank you so much. Another one. Okay. We get two of them there. Yeah. Mr. Tamayo. Good morning. Can you hear me? Yeah. Yes, Jose Tamayo. Good morning. Continuing with this strategic approach in Europe, I mean, I'm not telling something concrete. What regions and why are you considering or is it much more efficient to grow in a market that you are present? And what are the technologies? Yeah. No names. A couple of questions. Shell going to Europe, you did answer that. Take this one. Sorry for that because it's a concrete one. This is a strategic moment, but during this year, we did have some relevant impact on the increase in operating costs after the blackout in last April. My question is trying to double-check if this is something that is going to finish next second quarter in 2026. If you are considering or not, and why. If you are considering to recover part of this margin and how in front of your clients. Thank you. Okay. I will take the first part of the question. Wait, wait, wait, wait. We are considering, yes, new geographies. We are considering one of them is where we are now developing our business. The thing is that strategically, our point of view is try to go for countries, large countries, liquid countries, no-risk countries. Let's say that if the regulation is not super that constrain the business. This will be without trying to disclose too much, but this will be the main points for the business. Obviously, if the margins there are interesting enough. Second part? Yeah, I will take the second one if you do not mind. Regarding the operation cost, yeah. If you remember, in April, we had a blackout. After the blackout, the ancillary cost, the operating cost, rises a lot. This is a cost that we cannot transfer to our customers. CNMC in this case said clearly that you cannot transfer this cost to our customers. It's important to point out that it increasingly affects our fixed customers, not the indexed ones. In the indexed ones, we can pass through all the costs to our customers. In the fixed ones, we had to fix the price and all the rest of the costs. Yeah, obviously, something that is affecting us, but we have solved. In all the new contracts that we are signing today, we have put a claw, Marc Blasi knows it perfectly, we have put a claw that allows us to pass through this variation to the customers. In April, more or less one year later than this blackout, we will have all our portfolio renewed with this new claw that will allow us to pass through this cost so it will not affect anymore. Yeah, I would say a couple of things. This is not a one-shot. It will be, let's say, we will lose money there recurrently till, let's say, it has an ending, right? April next year. On the other side, I think that if you take a look at our financial results, you will see that this year we are going to again repeat to reach more than EUR 100 million EBITDA. In a bad year with a bad situation, we will be sustainable reaching at least EUR 100 million EBITDA, which I think is a good message. It is what we are promising to the market. Okay. Good morning. Yeah, it's working. Okay. Good morning. Adolfo Estevez with ETHY Finance Ratings. My question is on the hybridization. I mean, you mentioned you have one plan that's waiting, I guess, permitting. This is an area that I think is of great interest to everybody. I mean, it's in some jurisdictions like Chile and the U.S., this is already coming quite a long, it's being financed, etc. In Spain, it's still, which is actually a perfect country for this sort of strategy, it seems to be lagging behind. I'm not sure if some of the other jurisdictions where you operate. Can you give us a bit more detail on how you see the regulation legislation? When do you think this sort of technology will be coming online? Perfect. Not sure if Pablo or Mark, do you want to? I can do it. Yes. Yes, as you mentioned, the battery storage already exists for long. In California, as an example, you have seen that there are gigawatts of storage capacity that are installed. This also happens in Australia, in other geographies. In Europe, it's coming, the wave. Each of the markets, each of the geographies are working on developing this regulation. We expect regulation to be favorable, but we don't have still in Spain, where our PV plants are situated, we don't have still a clear regulatory framework where we can say, "Hey, with our battery storage, we will achieve this amount of returns." Given this uncertainty, we are positioning ourselves in the good place, at the right time to grab this opportunity. This is an upside to the strategic plan. The returns and the EBITDAs that you're seeing here do not contain storage. This is an upside. Yeah. As I mentioned at the beginning, I was thanking our Chairman for trusting and pushing us to reach a greater company, right? And when I present the strategic plan, he told me, "It's a bit conservative." Double the EBITDA again, I think that it's quite interesting. Obviously, we have some upsides here in acquisitions or obviously in batteries. Okay. I think that we can move on. There's another one. Another one. Okay. Hi, Ignacio Domenech from JB Capital. Thank you for the presentation. A couple of questions. The first one is on the supply business. If you can elaborate more on the growth until 2030 and what's the associated level of investment, okay, on this division. Secondly, on the generation business, those 2030 objectives you were mentioning that they exclude the storage. If regulation comes along and there's a good framework to invest on this technology, what are the alternatives you have to fund these investments? Are you contemplating any asset rotation or any potential raising capital to fund this? That's basically it. Thank you. Okay. Yeah. I think that for the evolution of the resume, I will take the second one. Yes. Yes, you have seen that most of the EBITDA growth will come from the supply division. How are we going to fund this? The supply business is a low CapEx or no CapEx business. There are no needs for investment. This is more a working capital business. As we have mentioned before, we have market access agreements as stabilized our working capital. In short, there is barely, almost very little investment required to achieve this EBITDA growth. This comes purely from commercial strength. This also, on the other side, makes us very, very comfortable in stating that we are going to achieve this growth without exceeding the three times net financial debt EBITDA ratio. Why? Because we are generating cash flows with a high ratio of operating cash flow to EBITDA. We are generating cash flows every year until 2030 while we are growing in a no-CapEx business. Yeah, I will take the second one. Regarding the investment in generation, regarding batteries, obviously, today we are prepared to the wave that is coming with batteries, with this first battery that Pablo explained. We will continue growing in PV, in megawatts of PV installs and this recovery. The two main streams that we have is our operating cash flow, between 70-80% of our EBITDA, it is operating cash flow. The second one, as you said, is this opportunistic asset rotation. We are open to rotate some assets in countries where maybe it is not as strategic as we consider or expect to invest in other regions, as Pablo said, like in Italy. These are the two main streams to invest in generation without stressing our debt ratio. Okay. Perfect. Last one? Last one? Last one. Last one. Okay. Last one? Yeah. Last one. Last one. Last one. Last one. Can only be happen. Yes. Hi. David López from JB Capital. Just a follow-up on this last question. Given that you operate a supply business in European countries where you do not have generation, are you planning to expand generation in those countries? You can get it. Yes. Our main goal is to be vertically integrated in all the geographies where we are. The answer is yes, but again, without commitment, without any commitment. We will invest if we find a good target with interesting return, if the debt allows us to do this investment. Yeah, our long-term commitment, or not commitment, but our long-term vision is to be vertically integrated in all the countries where we operate. Yeah. Actually, we are already working on it in Italy. Yeah, yeah, in Italy. Italy is the clear example that we are already constructing PV assets. Okay. Thank you so much to all. Thank you so much. Thank you. Now, exactly. This is what I was going to say. Let's take a seat. Yeah. We would like to invite José, our Chairman. Okay. [Foreign language] [Foreign language] [Foreign language] [Foreign language] Perfect. [Foreign language]. Thank you so much, José. Thank you very much. We can go there to make a little cocktail and then we can meet work there.