[Non-English content]. Welcome to Dominion's result presentation. If you want to follow this presentation in English, you can do so selecting the English language on the world icon at the bottom of your screen. [Non-English content] Before starting, I would like to remind you that before we finish the presentation, we'll move on to the Q&A. You can send in your questions in writing in the Q section, or you can either speak via the telephone or by raising your hand. Let's start with the disclosure for the presentation. Good morning, and thank you very much for attending this financial presentation of the third quarter of 2026. Yesterday, our board of directors didn't only approve the results that show the evolution of these first nine months of the year, but also gave their approval to a number of changes in the board of directors. Mikel Barandiaran is the Executive Chairman and is going to be replaced by Germán Pradera as from January 1, 2027. I would like to talk about the results, and later on, I would like to make a few comments on this process, so that we could then move on to your questions on both issues. As regards these first nine months of the year for Dominion, I would like to deliver a global interpretation of what we consider to be most relevant. One of the most important thing of the quarter, as well as of the rest of the year, is that 90% of the business, which covers the activities of GDE and GDT Services, which, as you know, are recurrent, have grown organically compared to the previous period of the year before by 5.2%. In other words, 90% of the business has grown over 5%. As mentioned in previous quarters, the situation of our global uncertainty has slowed down the execution process in the segment of GDT Projects, and in nine months of the fiscal year stands below the figures reported last year, although the portfolio is diversified without cancellation. We can't forget about the tensions in the Gulf, which is another element that has been taking place throughout 2026, and which affects our activities located in the area and its related industries. Finally, we have to remember, and we're not talking about performance here, we are in a fiscal year where all of the segments, to a greater or lesser extent, have divestments that have to be taken into account when you compare the data, either divestments carried out during 2025 or this year. This is the end result of the continuous advancement in the simplification of the company covered by our strategic plan. Along these lines, in this quarter, we have sold our stakes that Dominion had in call center services for operators under the Ampliffica companies. This is a non-core activity with very little impact, but it is important from a personal level because we are removing about 400 people from our perimeter. These divestments mean that we have sales figure and EBITDA figures that are lower than the figures reported the previous year, so we are sacrificing the short term so that we can lay down the foundations of the company that we want to become in the long term. Another thing that I would like to point out as regards what has happened in this quarter of the year is that we have been authorized to initiate the commercial operation, COD, of the wind farm of Cerritos as from today. In other words, as from today, Cerritos will close its testing stage and will initiate its operational stage at full capacity, receiving full remuneration for its production. Now let us take a look at the details of this summary. As I said, to analyze the figures and the segments, we have to bear in mind the strategic investments and divestments carried out, which I would like to review. As regards divestments, we have mainly the sale in December of 2025 of the industrial activity in France and the TTB virtual mobile operator portfolio that has been progressively transferred since the first quarter of 2025, and the MasOrange shops in January 2026. We also have, as activities available for sales, the biomass in Argentina, as the sale process started in Q2, and in this quarter, we will be eliminating non-core activities. Then we have our acquisition processes. We have, for instance, the ZCR business in Germany, and in June, a Spanish circular economy company in Spain has diversified our capabilities in terms of industrial waste recovery. The turnover in nine months, the effect has been -EUR 55.6 million, and the effect in terms of EBITDA has been -EUR 7.6 million. But in order to correctly interpret our financial statement, we have re-expressed the account at nine months in 2025 to include the same perimeter as the figures that we are presenting today. With this, we have closed the first nine months of the year with a business figure that accounts for a positive organic growth of +2% at constant currency in these nine months of 2025. Once we discounted the inorganic effect, which means it is - 7%, and the negative effect of forex that has practically no impact, which is - 0.2%, we have maintained positive organic growth, therefore, in a context that is complex, as I said at the beginning. As regards profitability, EBITDA in Q3 stands at EUR 94.6 million, with margins that continue at high levels, 12.5% over sales. Although there's a lower contribution of the GDT Projects in the mix because it's the segment with the largest margins, recurrent businesses like GDE and GDT Services are showing a solid behavior, and they're stabilizing the generation of results. The central structure stands at 2.8% over sales, which represents a slight variation in comparison with other quarters, and amortizations have dropped a bit also momentarily compared to previous periods. Then we have the minority shares, taxes, and interrupted activities maintain very similar levels, and what we have to talk about is the evolution of financial results that have improved globally by 27% compared to the same period of the previous year. Even so, in order to be able to compare things correctly, we have to bear in mind several factors in terms of the figure reported the previous year, as well as in the case of the figure reported for these nine first months of the year. We have to take into account the divestments and transfers to discontinued activities that have been carried out. Secondly, we have to take into account the extraordinary effects in both fiscal years, starting off with the year 2025, when we had an impairment of the photovoltaic assets in the Dominican Republic after the sale took place in July 2025. In Q3 of 2026, we've included several extraordinary impacts. For instance, the divestment in the stakes in Ampliffica, which has brought about a correction of -EUR 2.5 million that is covered by the results and that affect our financial outcomes. There are also other extraordinary balance sheet costs that affect the net results in an amount of -EUR 3.7 million, which also are related to the simplification process. So, let's say that we have an increase in the total attributable net result that goes from EUR 6 million to EUR 8.2 million, and the figure year. If you take a look at the previous figure, the figure now is 35% higher. Let's see how each one of the businesses has contributed towards this evolution, starting off with GDE, that is our environmental business. This segment closed in the first nine months with a business figure of EUR 330 million, which represents an organic growth of +4.8%. In this segment, what had a very important impact is the rate of exchange in - 3.5%, which explains the increase of 1% observed globally. As regards profitability, the business has reached a contribution margin of EUR 40 million, and this means that the margin over sales has increased to 12.1% at an aggregate level. GDE accounts for 43% of the sales and 35% of the company's contribution margin. What is really important here is that we've maintained recurrence and growth in both activities and in all geographies, with the exception of the Gulf, because of the situation that I mentioned at the beginning. In the area of circular economy, this quarter we've signed new recovery contracts for waste in Spain and Latin America, and with a first step in Uruguay. In decarbonization, we have emission control contracts in Asia and multiple thermal efficiency services there, and we're opening up a new geography with a contract in Panama. GDT Services, this is the segment that is focused on electricity grids and telecommunication grids. It closes this Q3 with a business figure of EUR 361.5 million, meaning the organic growth has been +5.5%, and this is the segment that has grown most. This segment, contrary to GDE, has recorded a positive impact of the exchange rate. You can see the different geographic distribution of both businesses in this period. GDE has a negative impact on the exchange rate, with currencies like the American dollar, the Indian rupee, or the real. GDT Services is exposed to Latin American currencies and has a positive effect. The contribution margin reached 17.4% of the first nine months of 2026, which also covers the high operational profitability that we can achieve in this business. This segment has concentrated most of the divestments, therefore has the biggest impact because of the sale of former non-strategic B2C businesses. GDT Services represents a major opportunity because we have lots of capabilities and because of the investments that are going to be made in Spain and other geographies in terms of the electrical grids and electrification. Our position is excellent. We are signing new contracts like the one that has been signed this quarter for medium voltage lines for industrial clients in Spain. Our experience is fundamental to manage in Latin America our adaptation to the new owners of the grids. We are mainly talking about telecommunication networks after the sale that Telefónica did in the recent months. Now these are enhanced Millicom, the operators of Ecuador, Colombia, and Chile, and in tech, it is in Integra Tec. Finally, the GDT Projects closes nine months of activity with less activities than last year. This has to do because of the global uncertainty. Also, the classification in the previous quarter of biomass as something that has to be sold also has an impact on the figures. This means that at nine months, we have EUR 26 million less and EUR 8 million less in turnover and in the contribution margin respectively. We consider it very relevant that we have maintained the solidity of our portfolio with a backlog figure of EUR 364 million, once again without any cancellations of projects until now. We have also signed and begun the execution of a contract for the technological integration of the telecommunication infrastructure at the Bilbao Exhibition Center. As I said at the beginning, it has been a positive evolution with very strong organic growth of the recurrent part of the business in GDE and GDT Services that shows the recurrence and the diversification that has been addressed by the company during the strategic plan. Secondly, the first nine months of the year are affected by lower level of execution of GDT Projects and because of the situation in the Gulf that is affecting GDE. As regards the succession process, we want to point out that this succession is to be an internal operation of a person that has been working for Dominion for 14 years at the highest possible level, and who has worked in different countries and different corporate and business areas. Germán Pradera joined the company in 2012, and after spending several years in Peru, he participated in our listing on the stock exchange, and he has directed the areas of service business and GDE. Therefore, he has in-depth knowledge of the company, and he knows our culture, and he knows the operational areas that are going to have a bigger weight in our future. But apart from that, as regards the timing, we have taken into account the natural passage of time of our current CEO will turn 65, although he does not look 65, or he will turn 65 next year, and this coincides with the new strategic plan. So it makes sense that who is going to be carrying out as the CEO should lead it from the very beginning, and in this context, we are carrying out this change. We are making this change, and this will enter into effect as from January 1st of next year. So the public presentation of our plan for 2027-2029 will be carried out in the first part of the year once we close the year 2026. But apart from that, well, the fact that Mikel is now going to become the executive chairman means that we are going to fully support in the transition the new CEO, and Mikel Barandiaran will carry on defining the strategy and lead anything related to corporate relations. Thank you very much for your attention, and now we are going to move on to your questions. Thank you. Okay, well, let us move on to the questions. If you are connected via Zoom, well, you can ask in writing through the Q&A section or just raise your hand, and we will give you the floor. Carlos Treviño from Banco Santander first. Please remember to switch on your microphone. Carlos, good morning. I am sorry, we cannot hear you. Okay, well, let us move on to the next person. Hello? Yes, we can hear you now loud and clear. Morning. Firstly, well, all the very best for Mikel and for his colleague, Germán. And I had three questions. So could you please give us a reference on where do you think that EBITDA could finish in the year? And you said of the EUR 150 million, you could expect EUR 125 came from recurrent businesses and EUR 25 from projects. We have accumulated EUR 13 million in nine months. So what do you think? How do you think that you will be ending the year in terms of EBITDA? And the second question has to do with projects. So could you say something about what you think about how the business is going to evolve in Q4, but especially in 2027, bearing in mind that the backlog has been dropping for five quarters in a row? And if we look at the new entry of orders in the backlog, the accumulated figure would only be EUR 18 million. And the third question has to do with the B2C business. In the presentation, you say that you are reaching the end of the optimization process for the B2C business. So could you please explain what this phase actually means, and could you give me the perimeter, too? The perimeter you are contemplating for the future as regards maintaining the B2C business. Thank you very much. Hello, Carlos. This is Roberto. So it is Patricia and myself that are going to be answering. But giving you a figure, we are working with a forecast now and giving you an EBITDA closure figure for the year, and I think that this is not the right time. Obviously, we have somewhat less execution in projects, as you pointed out, and this can be felt in the closure. But we know what seasonality does, and we also know there are lots of companies and corporations that close their budgets at the end of the year. So do governments. And I think that Q4 could be active as regards decisions and as regards being able to have a better visibility of the portfolio and its execution. I think that we have had low levels of execution for the couple of years, and together with the plan, I think that in 2027, what we should do is reactivate operations and projects and so on and so forth. But obviously, giving you a figure now and therefore EBITDA for the year is too premature. So we will have more visibility in the future, and we will see what it is we can say about that. As regards B2C, what remains is very little. It is not very relevant, really. And we think that we only have what has to do with Phone House, and what we can say is that in this strategic plan, you know that this is not going to be an absolutely core activity of the company, although it is true that in parallel, we do believe that we have focused on generating value. In other words, Phone House is generating value or worth, but the thing is that strategically, it is not something in which we think that the future is very clear in terms of grids and the environmental area, et cetera. Having said that, we will be open to operations, or we will be also open to new formulas that can contribute more value in Phone House. And who knows if in the strategic plan, because, well, it is irrelevant really to carry out a corporate process, but we will see what happens. Everything is currently being studied, and we will see what we do. And it will be an absolutely minor issue and that we will hardly be talking about in the future. Thank you very much. What about 2027? Any comments on how you see the project? Well, considering that the arrival of new orders has been pretty poor in the accumulated figures for the first nine months of the year. We are positive for 2027 because we believe that Q4 is going to give us more visibility in operations in Chile, in the Dominican Republic, and there are many other projects that still have to be carried out, and also new operations. So, we believe that the commercial side of things, or that good news is going to be coming along, and I think that we should do better. Well, yes, there is lots of commercial activity. What you said about the portfolio is also something important for us, and we cannot continue adding on things to the portfolio now that we are at these levels. But as Roberto pointed out, as regards 2027, we think that there are significant opportunities that could be materialized through the data center world, which has less weight in our previous portfolios, but which we are now working on intensely. I think that this is where part of that recovery could come from in 2027, or at least that's what we hope and expect, or expect and hope. Thank you very much. Thank you. Thank you very much, Carlos. We're going to give the floor to Luis Padrón. Please remember that you have to switch on your microphone, Luis. Thank you. [Non-English content] Hello, can you hear me? Yes, loud and clear. Yeah, hello. Good morning. How are you? I've got several questions. Firstly, in services, there's a very significant disaggregation in growth in sales relative to the growth that was reported in the first half of the year. Is this an issue of comparability, or what do you think this is due to, or why do you think there's been a slowdown here? Then we have the question of the sale of Cerritos and biomass. How do things stand? Could you please update this info? Then, as regards the strategic plan, if possible, could you be a little bit more specific about how you're going to be doing this? You talked about the first half of the year, so it would be at the end of Q1 or Q2, or how does this one work out exactly? Thank you. Well, on the one hand, yes, there is something that has to do with comparability because the Q1 of services 2025 was especially strong, if you look, if you analyze each quarter. Then, in Q3, well, this is something that I mentioned before. You know that there have been divestment processes of Telefónica in Latin America, and in Peru, there's also been a divestment in the networks. These processes, well, we maintain our contracts, but let's say that things are changing because now these properties are in the hands of other companies, and this, I think, could have an effect in certain quarters. But in any case, we are managing this change in ownership, and we're doing so in a natural manner, and we're making all the necessary adjustments. I believe that the health of the growth in GDT Services, well, globally, what we have to expect is that we will be able to maintain these very healthy levels. There's nothing to be taken into account in the future in this regard. As regards the strategic plan, I will hand the other question over to Roberto. Well, here there are several circumstances, and I would like to answer some questions that have also been sent through the chat. We wanted to present the strategic plan at the end of the year, in November, and, well, we'd chosen a day that didn't turn out to be the most suitable day. It was then November 11th, and as there's going to be a general strike, we have been forced to establish another date. I think that due to operational reasons, December is not a good month. It's not easy to find a reasonable date to do a physical presentation in November. We also have the appointment of Germán, so we've decided that the best thing would be to do this in 2027, and once we have the figures of 2026 submitted. It would be at the end of Q1 when we will be presenting the strategic plan once we have the results of 2026. Of course, the presentation that we have scheduled for November is going to be done by Germán because this succession has been fully planned, and it's well-known. All of these circumstances, when put together, make us think that we will be presenting this with the results. Yes, as regards Cerritos, as Patricia pointed out, there's not much more information. We celebrate that today, we have the date for its commercial implementation that, awarded by the authorities in Mexico. Instead of selling the energy at 70% of its price, we are moving on to 100% of the price. We have the possibility of selling the clean energy certificates that are being valued in the market, and power can also be recognized. The project is ex novo. In other words, it's migrated. It has all of its background completely clean, and it's a project that, as of today, is perfectly apt and is perfectly valued too. It can be sold because, as you know, we have different expressions of interest on the table, and let's say that we are now in the process of speaking to people and to see how we can carry this project out without making any kind of mistakes. Now we are reaching weeks in which there are going to be visits and conversations, and we'll be negotiating the project, which is what we can say about this. In Argentina, it's very similar too, because we do know that as the process evolves, the company is producing more cash, and we're reducing our level of net debt. It will be under EUR 20 million, and we are also managing the process in Argentina. We know that there's a macro situation there, and because of the reactivation of the country, what concerns us most is to fully support the management of the biomass process, and we know that there are opportunities at our disposal that we are negotiating too, so that we can eventually have this asset at our disposal. I think that these are timings that, considering what we have to be transferred to 2027 so that they can crystallize as soon as possible. Thank you. Okay, well, let's give the floor now to David López from JB Capital. Please remember that you must switch on the microphone. Hello, good morning. Can you hear me? Yes, perfect. Oh, hello. Well, just a follow-up question on what Carlos was asking you about before. In the past, you spoke about the EUR 125 million in EBITDA for recurrent businesses. I would just like to ask you if you still are contemplating, or do you think that that level can be reached this year, only in the case of recurrent businesses? Hello, David. Yes, I think that the figures. Well, we have to work things out with the figures we have just now. As you can see, you can see that the evolution of the recurrent business is very good. It is 4.8% in growth of GDE, 5.5% in services. Globally, both of them are above 5%. This is what we mentioned throughout the year. Therefore, the focus, as you already know, would be on the execution of the project. It would not be focused on the comparative analysis like here. We do not know what is going to happen in Q4 because you know that these projects work with milestones and with different situations that could produce a bigger or lower turnover and bigger or lower margins in the quarter. That is why we do not want to give you a specific figure in this area. There is no doubt, however, that even in the case of recurrent businesses, they are growing at a very healthy level. Yes, we are now at cruising speed in spite of the environment. I think that was mentioned by Patricia. Let us say that whatever has to do with the Middle East, with the Gulf, it is a year in which we have dropped compared to the previous year. Even so, we are maintaining figures that are very good. What I mean to say is that we are fighting against all of that, and even so, we have had some very positive outcomes. We feel comfortable with that approach. Thank you. Okay, I think that we have touched upon the CEO and the Chairman issue. Well, there are going to be no other changes in the management team. As Patricia pointed out, this was fully planned. It is an absolutely natural transition. Everything continues as it was before. [Non-English content]. Well, there is a question on the net financial debt. In these nine months, in Q1 and Q3, we did not report any debt data. What you can see in this quarter is that there has been a payment of dividend. That was EUR 8 million on June 1st. There were some other payment of dividends to minority shareholders and some minor payments too. There is nothing relevant until we present the figures of our net debt in the year. This is also related to the normal generation of operating cash flow of the company, so everything is all right. Anything else? I think that all of the questions have been answered. If you have no further questions, I think that, well, perhaps if there is anything else you would like to say via the chat or via the telephone, and if not, we would finish the presentation here. Well, okay. Well, thank you very much for your attention, and goodbye.