Good morning, everyone, and welcome to this Faes Farma 2025 Earnings Call Webcast, where we shall review the company's business performance, key figures, and the 2026 guidance. My name is María Marín, Head of Investor Relations and External Communication. Joining me to present these results are Eduardo Recoder, the company's CEO, and Iker Etxezarreta, the CFO. After the presentation, there will be a Q&A session, and you can submit your questions through the platform. We will be delighted to address those questions. Without any further ado, let me hand over to Eduardo. Thank you, María. Good morning and welcome. I'm delighted to be presenting these results for fiscal year 2025, which was a very intense year when we developed a new strategic plan and opened up new opportunities. Today, we would like to share the results of that work with you. We shall start off with a summary of the key highlights and main figures. We shall go into more detail on business performance. After which, I will hand over to Iker, who will walk you through the financial results, and subsequently, I will cover the guidance for 2026. Starting with the highlights, as I mentioned, 2025 was a year of transformation and building. We have put together a new team and a new strategy, and within this strategy, we carried out two key inorganic operations, which are very important for the company's future. We shall give more details on this. These initiatives will clearly strengthen our portfolio and enhance our geographical footprint. From a business standpoint, total revenue rose by 23% YoY, exceeding our guidance, driven by growth across all business areas. It is also worth noting that excluding M&A activity, that is to say, organic growth of the business prior to acquisitions, growth increased by 11%, even above our initial targets. The good news is that this revenue growth comes mainly from pharma, which grew by 21%, with international markets, particularly Latin America and licensing standing out as key drivers, posting a 20% growth in Latin America, 19% growth in licensing. Adjusted EBITDA rose by 3.1%. Let me remind you that adjusted EBITDA excludes the extraordinary costs related to the startup of Derio as well as the results from M&A activities. This 3.1% growth is in line with the guidance timely disclosed early last year. We have also made steady progress from an R&D and portfolio perspective. We obtained approval for pediatric bilastine in Europe for children under six years old. We are advancing the evolution of mesalazine 1.5 g gastro-resistant tablets in Europe. In October 2025, we received approval for Robaxin 1,000 and 1,500 mg in Europe, along with reimbursement approval for Akantior in Spain. Our financial situation, the full dividend was paid in 2024 in January and July, along with a 50% repayment of bank financing, leaving the group in a comfortable liquidity position and maintaining net debt at around two times adjusted EBITDA. Other key aspects of the year, as I mentioned, include the new strategic plan that we presented in April last year with a new ambitious goal to double the size of the company by 2030, both in net sales and EBITDA, with a clearly defined strategic M&A approach. As part of this strategy, we were able to complete two very significant acquisitions. Laboratório Edol joined the group in June and SIFI S.p.A. was incorporated in September. Both companies specialize in ophthalmology, giving us access to this highly relevant and high-potential therapeutic area. We have also created a new global executive team, bringing in top-tier talent for leadership in Spain for R&D and operations to free up the organization in Spain. Of course, we have María, whom you have met on several occasions, and who is responsible for leading all investor relations. A new sustainability strategy has also been outlined. Afterwards, we are going to give you more detail on this. Fiscal year 2025 also marked the start of the relocation of operations to Derio, a process that will last 18 months and is scheduled to be completed in 2026. Finally, significant work has already begun on integrating the two acquisitions, which has involved some reorganization processes and related restructuring costs. It is also worth noting the appointment of our new Chief Scientific Officer, Isabel Nájera, who will be boosting R&D with a new strategy, implementing a more dynamic pipeline management, a hybrid model as well of external collaborations, and so on. Over the course of 2026, we shall be able to provide you with more details on this. Next slide. Here we would like to reinforce that the key message of the year is the fact that we met our guidance reported revenue, as I mentioned, reached EUR 627 million, representing 23% growth. Excluding M&A activity, revenue reached EUR 563.7 million, up 11%, thus exceeding the guidance we had set at 8%-10%. This growth was driven by the strong performance of our international operations and Latin America licensing and other areas. Of course, we should highlight the performance of our three strategic molecules, which have shown significant growth. From a reported EBITDA perspective, the figure reached EUR 118 million, accounting for a decrease of 8.4%. Here, of course, we are already including M&A operations as well as associated M&A costs and the initial restructuring expenses, which involved costs related to staff leaving the company and the search for synergies. However, excluding M&A activity and all related costs and restructuring, EBITDA reached EUR 122 million. This is equivalent to organic EBITDA. We therefore exceeded the guidance, which as you know, was set at -6% to -9% due to the start-up at Derio. Here we are excluding integration costs and the contributions from the two recently acquired companies. We have been able to improve on guidance. Adjusted EBITDA, excluding Derio, and for which we had also provided guidance of 3%-5% growth, reached EUR 132.8 million accounting for 3.1%. These acquisitions were financed through bank borrowings with the aim of not exceeding a net debt level of 2x adjusted EBITDA. In fiscal year 2025, we maintained these levels, and over the course of 2026, we expect to reduce this ratio further. Looking into business performance in more detail, the first key message is that the pharmaceutical business accounts for 87% of our activity. That said, we should not underestimate the role and importance of our animal health and nutrition business, which grew by 52%, thanks to the commissioning of ISF. We should also highlight the growth of pharma from a much larger base with 21% growth. This was driven in part by our three strategic molecules, that is to say, bilastine, Hidroferol, and mesalazine. Combined growth therefore reached 11% at a global level, even offsetting the loss of exclusivity for bilastine and the impact of generics in several markets. The rest of the pharma business also contributed significantly, including, in this case, the miles of sales from Edol and SIFI, which contributed to drive growth to 29% in the segment. Overall, the group achieved 23% growth. As I mentioned before, the three strategic molecules continue to be very important for us, serving as key drivers of growth internationally. Bilastine reached EUR 134.2 million, growing 8%, driven by strong performance both in licensing and direct sales with notable growth across Latin American countries. We should also highlight the licensing business. Bilastine continues to grow despite the loss of exclusivity in Japan and competitive pressure from generics in Europe, as well as the loss of exclusivity in Canada and Japan. This impact is gradually appearing in 2026. However, this already affected supply towards the end of 2025. Calcifediol also grew by 8%, in this case, supported by licensing and the performance in Latin America and Portugal. Mesalazine that grew substantially by 46% with a very promising outlook for the future. This includes strong performance in Poland through our licensing as well as our own efforts in Portugal and other countries. Looking into the business areas in more detail, pharma Iberia grew 11%, reaching EUR 230.58 million. International pharma in turn, excluding licensing, reached EUR 207.7 million, up 43%, which is also very significant because this is a key component of our future growth plan. The licensing business closed with 9% growth, as I mentioned earlier. Animal nutrition grew 52%. Altogether, this contributed to overall group growth of 23%. Taking a look at pharma Iberia in more detail, growth was bolstered by medical visits and incorporation of Laboratório Edol in Spain. The healthcare consumer business experienced some temporary slowdown, but still grew, 2% in the case of bilastine despite competition over generics, maintaining market leadership for key molecules. The respiratory segment also showed very significant growth, and Hidroferol remained the market leader in Spain with over 50% market share. In Portugal, the prescription business rose 11%. This reflects the organic or legacy part of the business, which performed very well in the case of Hidroferol. Portugal reported underperformance in the case of healthcare, slightly below expectations. The addition of Laboratório Edol now positions our Portuguese subsidiary as one of the strongest in the group after Spain, contributing to very strong growth of 68%, thanks to this acquisition. Turning to the international segment, excluding licensing, it reached EUR 2.7 million and is already on track to surpass Iberia with 43% growth. Starting with Latin America, growing at a rate of 20% with no influence coming from acquisitions. This is entirely organic growth. Chile grew by 12%, Colombia 19%, Ecuador 34%, Peru 28%, and Mexico 34% respectively. These are strong growth rates focused on our strategy of maximizing the growth of strategic products, which also deliver the best margins. Of course, we are very satisfied and pleased to see that Mexico, a market of major relevance and potential, plays a key role in this growth trajectory and will also benefit from future synergies, thanks to the presence of SIFI in Mexico, which is highly significant. For the rest of the world, this segment grew 88%. This clearly reflects the incorporation of SIFI, which plays a key role. Now, excluding SIFI, growth was 5%, demonstrating very interesting market expansion, and we expect this to translate into higher sales as from this year onwards. We believe that we will be reporting increased growth undoubtedly. The contribution of SIFI in this segment is particularly important as it brings Italy, Turkey, Romania and France and other SIFI markets into the group, all of this leading to this 88% growth. As for licensing, all top molecules performed very well. Bilastine growing by 3% and showing resilience primarily driven by the dynamics in Asia-Pacific, showing overall, good overall performance in both mature and emerging markets, offsetting pressures from generics in Canada and Europe and in Japan. Other licensing activities grew 37%, with notable performance from mesalazine in Poland, which holds a 60% market share, as well as solid results in the Nordic countries. Calcifediol continues to expand thanks to the redistribution of regional agreements with special relevance in Eastern Europe, France, and Italy. For 2026, we expect to gain traction in new markets such as Greece, Australia, and the Nordic countries, where products have been recently launched. As you can see, other licensing grew 37%, and this is also a key driver of overall growth. Also helping to offset the impact of upcoming loss of exclusivity in Japan concerning bilastine during the current year. Finally, as for animal nutrition, the launch of ISF has been a major growth driver with sales meeting or even exceeding expectations. Margins experienced some pressure due to the product mix, but we have reinforced our leadership position in the animal segment, especially in the piglet market, thanks to the ISF facility. We have also been growing in new species and new product presentations and through the incorporation of the animal ophthalmology business from Edol, which will also provide us with additional opportunities in 2026. Before moving on to the financial results and guidance and handing over to Iker, I would like to highlight our work on sustainability, which has been extensive and fully in line with our strategy with a strong emphasis on people. These are some key highlights of our current efforts. As you can see, we have 55% of our workforce being comprised of women, and we continue to strengthen their representation leadership positions. We keep on working to bridge the remaining gender pay gap, which currently stands at 3.6%. We have also emphasized the importance of the patient in our values, establishing the patient as our top priority. We have developed the so-called, role of patient specialist to improve engagement with patient associations and to integrate this perspective into our work. As for environmental commitment, we have put in place a transition plan to mitigate climate change with a goal to reduce Scope 1 and 2 emissions by 40%-42% by 2030. As for governance and conduct, on the one hand, concerning, governance, we have maintained a well-balanced board of directors with 50% women and 50% independent directors. Ethics remains a cornerstone of our operations, guiding how we behave, interact, and work. Finally, regarding partnerships, as I said earlier, we continue applying our code of ethics. This year we have a major focus integrating the two acquired companies from the perspective of these dimensions on sustainability. Of course, we're already doing this with all of our subsidiaries, and we plan to implement this fully with SIFI and Edol as well. With this, I conclude the first part of the presentation. We shall now move on to the financial results, and subsequently, I will cover the guidance. I hand over to Iker. Thank you very much, Eduardo. Good morning, everyone. As we have been announcing, 2025 was a year of profound transformation for Faes Farma, marked by significant growth for the group and the launch of the new 2030 strategic plan, which is also reflected in our financial performance. We are thus embarking on this new phase with very clear cut financial priorities. On the one hand, the financial integration of SIFI and Edol. Both acquisitions took place recently, and we are currently in the process of incorporating them into the group's financial policies. Their success is critical to consolidating a single coherent financial vision that is aligned with our targets. On the other hand, the focus on business profitability. Sales growth must translate into improved margins. To this end, in addition to boosting sales, which is indispensable, we shall work to enhance both marketing and operational efficiency, optimizing prices, product mix, team productivity, and cost control. All this becomes a key lever for improving the sustainability profitability of the business. Furthermore, we shall also focus on cash flow management to optimize capital generation and capital allocation discipline, as we shall see in the following slides. Finally, we shall target a solid balance sheet with reinforced liquidity, ensuring financial stability and preserving flexibility to seize potential opportunities. On slide 17, you can see the P&L account, which directly reflects the group's transformation. Organic revenue posted double-digit growth, driven chiefly by the international business. The incorporation of Edol and SIFI in June and September, respectively, brought total growth to 23%, surpassing EUR 600 million in revenue for the first time to almost EUR 627 million. At the same time, expenses evolved in line with this growth. In addition to standard operating costs, we should include those arising from the execution of acquisitions, partial restructuring, and the non-recurring costs of the transfer of activities to the new plant in Derio. The start-up of the new pharma and animal health and nutrition plants, as well as the consolidation of Edol and SIFI after seven and four months, respectively, also resulted in an increase in the depreciation amortization charge. Similarly, finance costs rose due to the financing facilities obtained to carry out the transactions that we mentioned before. All in all, as Eduardo has already mentioned, we are reporting a EBITDA of EUR 118 million. On a like-to-like basis, EBITDA would have been EUR 122.1 million, down 5.4% compared to 2024, mainly due to the one-off effect of Derio. Excluding this effect, adjusted EBITDA amounts to EUR 132.8 million, accounting for growth of 3.1%, which demonstrates the operational strength of the business. Net profit totaled EUR 79.6 million, falling by 28.5%, mainly due to both non-recurring expenses in 2025 that we already mentioned and tax deductions in 2024 stemming from the investment in Derio. As we have already said, cash flow management across all business lines will be one of our top financial priorities. The total EUR 81 million generated by operations in a year with significant non-recurring cash outflows demonstrates the robustness of our business model. Working capital climbed slightly due to the transfer of operations to Derio and the integration of Edol and SIFI, while CapEx showed a significant decline following the commissioning of the new production plants. Tax optimization and financial expense optimization are also an essential component of our financial targets. As we mentioned on slide 16, and have demonstrated throughout the year, we are committed to efficient capital allocation that allows us to meet the objectives under our strategic plan. Firstly, in 2025, we completed the acquisitions of SIFI and Edol, which will enable us to accelerate growth, expand our portfolio, and continue the group's international expansion. Throughout 2026, we shall also complete the transfer to the new pharmaceutical plant in Derio, which has been the largest organic investment in our history. We shall also boost investment in R&D under new leadership and with more dynamic pipeline management, while also encouraging external collaborations. All of the above will be achieved while maintaining strict financial discipline with a commitment to keeping debt below two times EBITDA, and of course, reaffirming our commitment to maintaining an attractive dividend policy that is compatible with the growth and expansion of the business. With regard to the balance sheet on slide 20, we ended 2025 with net debt of just over EUR 267 million, having completed the two largest acquisitions in our history and also having made the largest cash dividend payment in compliance with our policy of a 50% payout of the group's consolidated net profit. Overall, the debt ratio is two times adjusted EBITDA, which is slightly higher than reported EBITDA or EBITDA at constant scope. We are comfortable with the schedule of maturities for the next two years, and the liquidity position, both in cash and undrawn credit lines, totals almost EUR 150 million at the reporting date. I give the floor back to Eduardo to share our guidance for 2026. Thank you very much, Iker. We are embarking upon a new year with a very positive outlook, we are now in a position to provide you with the guidance for the year ahead. You will therefore get a clear perspective on how we are accelerating the business while also improving profitability. Our expectation for 2026 concerning revenue points to growth of between 17%-19% compared to 2025, when revenue reached EUR 627 million. As for the EBITDA, we expect growth of between 28% and 31% compared to EUR 118 million in 2025. This represents reported EBITDA without any adjustments whatsoever. Furthermore, we remain committed to continuing to reduce net debt, keeping the net debt-to-EBITDA ratio below two times, and maintaining a dividend payout of 50%. The main growth drivers for 2026 were prepared during 2025. 2025 was a year of transformation, as I mentioned, and 2026 is the year of execution, a year of delivery, and this is very clear to my team and the company. We shall continue to profit growth in our strategic international areas, particularly in Latin America and the Gulf, also offsetting the impact of the loss of exclusivity of bilastine in Japan. These figures already include the expected negative impact of the loss of such exclusivity. In a nation, we are going to have commercial synergies in terms of cost and also commercial synergies through the integration of SIFI and Edol. On the commercial side, this gives us opportunities to expand in ophthalmology, which is now the company's most important area, but still has significant growth potential. Commercial synergies will also strengthen our presence in medical visits and the omnichannel approach established in Spain and Portugal, where we continue to work and support in opportunities. The growth of SIFI will be further propped up by new product launches and the CDMO activities at the SIFI facility. Finally, 2026 will mark the completion of the relocation of all pharmaceutical operations to Derio, allowing us to fully realize our operational efficiency plan, which will have an impact in 2026 and even more so in 2027. This will keep us very busy, but we are very excited about delivering throughout 2026, a great year for Faes. I now hand back to María for the Q&A. Thank you very much, Eduardo. I would like to remind you that you can submit your questions through the platform. We shall start with a question from Joaquín García-Quirós of JB Capital. What was the value of the costs related to the SIFI and Edol restructuring in 2025, and how much do you expect for 2026? In fact, we are not going to disclose any data about restructuring costs, but we can say that we have aimed to act as swiftly as possible, both in the case of Edol and SIFI. A large part of the restructuring has already been reflected in the 2025 figures. We also have a very positive outlook regarding the conversion ratio of savings from these restructuring costs, which on an annualized basis could stand at or even exceed 75%. Another question regarding costs related to the relocation to Derio. How much of these costs still remain? Regarding the relocation costs to Derio, as you know, and as Eduardo mentioned earlier, this is the year in which we will complete the transfer of the Derio plant. Therefore, we estimate that approximately two-thirds of the costs reflected in 2025 will be absorbed during fiscal year 2026. As you know, production continues at both plants, therefore the remainder will be fully eliminated in 2027. Joaquín García-Quirós and Guillermo San Pablo both ask about licensing. The licensing division declined in Q4. Is this due to the full experience change upon due to patent termination, or what do you expect for this division in 2026? Could other licensing and entries into Asia offset the decline in Japan? As I mentioned before, regarding the first part of the question, there is always a seasonal effect at the end of the year. Efficiency tends to be slightly lower. With the imminent entry of generics in Japan this year, as well as the supply of raw materials to Japan, which of course we build through our licensing agreements, all this has already been adjusted and the impact begins to be felt. We will achieve a very good offset of the Japan impact through bilastine and other countries and with other licenses, but the impact is significant. You can see the numbers here. As I mentioned before, we will be able to fully compensate or offset any potential loss within the scope of our international operations. As for the guidance, José Luis Romero from Santander asks the following: In 2026, and taking into account full year SIFI and Edol revenue, although it would imply organic growth of 7% for the year, could you please give us more color on the grounds supporting this forecast? This is a continuation of our strategic plan, where we are driving the international segment, where Latin America is responding very well and where there is still significant growth potential. All three strategic molecules continue to hold market shares far below those we see in countries where we have been longer established, such as Spain and Portugal, where they are growing at high double-digit rates. This is providing strong momentum for our international segment. We believe that we can also accelerate growth in the Gulf region, where we still have some room for that. As for licensing, we are still experiencing the impact of the loss of exclusivity of bilastine in Japan, but bilastine will perform strongly in other countries. Of course, we expect growth coming from mesalazine as well. Hidroferol. Iberia is also seeing business improvements with recoveries in the healthcare segment. All this supports the expectations. José Luis asks whether we have any updates about Akantior and the expectations for 2026. Yes. We are currently working on all aspects concerning pricing and reimbursement, and we will be providing more details in the coming weeks once we have more visibility of the full picture. In any case, we are pleased with the progress made in this respect. Regarding CapEx, we are being asked about the expected CapEx expenditure for 2026 and the cash flow distribution for 2026, the dividend payout policy and share buybacks. For CapEx, we mentioned during the presentation that last year, that is to say 2024, was a peak year with the completion of all investments in Derio. In 2025, the amount was largely corrected. In 2026, we have some projected investments, specifically at the Catania plant, to support the CDMO business that Eduardo mentioned before, which might partially boost CapEx levels compared to 2025. What is noteworthy, nonetheless, is that the operating cash flow of the business is very similar to the one reported in 2024 as certain effects offset each other. A slightly higher working capital requirement on the one hand, a slightly lower CapEx on the other, is what we are anticipating for 2026. It is true that we may expect more impact on working capital due to the full completion of the Derio relocation, but this will in no way affect the group's dividend payout policy, which remains unchanged. Therefore, there is no currently a plan for any share buybacks or similar measures. There is another question concerning free cash flow. We see that sales increased by 25%, but net cash falls due to additional costs. Is there an expectation that in 2026, cash flow will return to growth and align again with sales? Are we going to maintain the same margins of free cash flows? Well, the reality is that the year in which we can expect normalized cash flow for the group once the Derio relocation is complete, will be 2027. Our current plan ensures that in 2026, we will cover the dividend payment announced by Eduardo, and also, we will continue leveraging the company. Another question concerning R&D. How is your pipeline of new molecules progressing? Have any new phases started, or if not, when do you expect them to begin? Well, as for the R&D strategy, first, I would like to emphasize the importance of incremental innovation, which has been the fundamental groundwork for developing new molecules and presentations at Faes over recent years. There are several projects which are still progressing and will reach the market soon. As I mentioned earlier, we are now conducting a full review of our R&D strategy with a particular focus on identifying external opportunities. Currently, we have four projects underway that could enter phase I in the coming months, though none have started yet. These projects will be, of course, carried out with a clear governance, with rigorous decision-making processes, as established by our new CEO to ensure a structured and parallel and a good approach. We are exploring code development and marketing opportunities. For example, with laboratories in Asia, where there are some ongoing clinical trials. In Asia, there is a strong need for partners from Europe and also focused in Latin America and the United States. This is something that we can do and where we can engage, and we are progressing with these types of initiatives. Okay, we'll leave a few more seconds for any remaining questions. If not, this concludes the webcast. Thank you very much for your interest in the company. As usual, we shall remain available should you have any additional questions. Thank you very much.