Ladies and gentlemen, thank you for standing by, and welcome to the Prosegur Full Year 2021 results presentation conference call. At this time, all participants are in a listen-only mode. After the speaker presentation, there'll be a question-and-answer session. To ask a question during the session, you will need to press star one on your telephone. I must advise you that this conference is being recorded today. I would now like to hand the conference over to your speaker today, Antonio de Cárcer, Head of IR. Please go ahead, Antonio. Good afternoon, and welcome to Prosegur full year 2021 results presentation. This presentation will last around 30 minutes, followed by an open Q&A session. This webcast will be hosted by Antonio Rubio, Secretary General, Maite Rodríguez, CFO, and myself. Prior to starting, I would like to remind you that this presentation has been pre-recorded and that it will also be available for download in our corporate website. I will now hand you over to our Secretary General, Antonio Rubio. Good afternoon, everyone, and thank you for attending this presentation. Today, we are presenting the financial results of a year that has been full of challenges, not only for Prosegur, but also for the industry and the global economy as a whole. In this complex environment, Prosegur has managed to achieve positive organic growth in all regions and business areas. This consolidates a solid recovery trend and shows that our business model remains solid after the gradual fading of the pandemic effects and will soon return to pre-pandemic levels without structural damage. We have not fully recovered yet, as some negative impacts are still present in some regions and business areas. We are very optimistic about the positive development of the situation and also about the favorable headwinds that the current macroeconomic environment will bring to our operations. Before we go into these details, let me first summarize the main highlights and achievements that Prosegur has made in the past year, 2021. In 2021, we launched our strategic plan for the next three years. A plan that relies heavily on innovation, new products, and digitalization of the company, and whose main goal is to improve the profitability of the company in the mid and long term. On the innovation side, we have been extremely active, launching two new business lines, AVOS and Cipher, introducing a new intellectual property framework inside artificial intelligence platform and POPs, global interconnection and communication system, amongst others, that will act as the foundation of new products and solutions in all business lines. To effectively transfer all this innovation to the market, we have also developed a new organizational structure with the creation of the role of global managing director to jointly drive the evolution and market expansion of security, alarms, AVOS, and Cipher. Also appointed a new Managing Director of the security business based in the U.S., whose main responsibility will be to accelerate the change towards a full integration between guarding and technology, and quickly capture the interesting growth opportunity that the U.S. market is presenting to us. On the business evolution side, we have been able to respond to the harsh macroenvironment created by the pandemic, gradually recovering our volumes in all business lines and geographies, expanding the penetration of our new products, mainly in cash, and improving our profitability quarter-over-quarter in almost all products. Although we're still suffering uncertainty from the strong negative effect that the last pandemic wave has imposed. Our balance sheet has also performed very well, renewing our investment-grade credit rating for the eleventh year in a row, delivering a very good cash flow, thanks to our excellent working capital optimization and collection policies, together with very effective foreign currency repatriation programs that have allowed us to reduce to the maximum possible the adverse effects. Regarding ESG, in 2021, we have launched a new sustainability director plan with more than 60 different initiatives and have fully integrated ESG criteria across all the business lines, back office, and corporate procedures, obtaining a very rewarding valuation increase from the main ESG rating agencies we work with. Finally, in terms of inorganic expansion, we have been active in all business lines, not only on the pure M&A side, but also creating very promising partnerships and alliances. Let me give you some more color on this topic. We have completed three M&A transactions during 2021, providing a total acquired value of EUR 73 million. Prosegur Cash has expanded their presence in the banking correspondent industry or CorBan, following the acquisition of one of the market's leading national players in Uruguay in May. This deal will add 460 additional physical branches to our current platform of over 6,500 we now run in several countries in Latin. AVOS has also performed an operation in Latin through the acquisition of Solunegocios, a major national BPO provider specializing in digital document verification, data mart, and transactional reports with an added strong presence among retail, insurance, and banking customers. Finally, Security has also increased its footprint in the U.S. by acquiring Superior Security and Investigations. A security operator highly focused in the air transportation industry, with ample presence in the states of Oklahoma, Texas, and Missouri. Furthermore, in addition to the ongoing M&A that we continue to deliver through 2022, we have struck a number of strategic alliances and collaborations with major players in different key industries over the past year. Cash has formed a joint venture with Euronet, the ATM industry leader, to become the region's leading independent ATM network operator in Latam. In addition, has also signed a strategic commercial alliance with Santander Bank in Spain to target the small and medium commerce market with the Cash Today solutions. In Spain, Santander has teamed with Movistar Prosegur Alarmas to resell their home security alarms via its branch network. A similar agreement has been signed by Prosegur Alarmas and Telefónica to extend their presence in the Colombian residential market. Finally, Prosegur and Microsoft have signed a strategic collaboration agreement in the cybersecurity environment, certifying Cipher as a preferred cybersecurity partner in the GRC technology. This long-term partnership will work together to build cybersecurity protection services that Microsoft will integrate into their collaborative client solutions. These have been the main highlights of the period. Let's now review the financial performance of the company. For that, I will hand over the presentation to our Group CFO, Maite Rodríguez. I will join you back at the end of the presentation for my final comments and remarks. Thank you very much, Antonio, and welcome everyone to this presentation. I will start the financial review of our full year 2021 results with a quick overview of the most relevant indicators of the period. As Antonio mentioned before, volumes have recovered, especially in the second half of the year, as the negative impact of the pandemic has subsided. Proof of this is the overall sales growth of 5.8% in local currency. Organic volume growth was recorded in all regions, with increase of up to 10% and 11% in South America and the rest of the world, respectively. In this sense, it is remarkable the outstanding revenue growth in security in the U.S. of up to 16% in local currency terms. New products have also grown both in security and cash, being Prosegur Cash the best performer with an increase of up to 15% in the penetration of the new solutions in the revenue mix. Alarms added nearly 100,000 new connections to their customer space, reaching more than 700,000 customers in nine countries. EBITDA has reached EUR 223 million. This represents an EBITDA margin of 6.4% for the group. Although the company saw a gradual improvement in margins, especially in cash business, there were some temporary effects in the later part of the year that had a negative impact on the result. I will come back to this point later when we analyze the consolidated profitability. However, let me tell you in advance that these effects are temporary and mainly caused by the Omicron COVID variant. Cash flow generation continues to be good, with an excellent EBITDA to cash conversion ratio of almost 80%. We continue to improve our best practices in working capital together with a tight control of the infrastructure CapEx, what allows us to achieve an operating cash flow above the average of the last five years, despite the unfavorable macroeconomic environment. Finally, in terms of balance sheet position, Prosegur continues to benefit from a very comfortable liquidity profile and firepower, maintaining a moderate leverage ratio and an excellent maturity profile for our corporate debt. If we look at the group's income statement for the full year 2021, we see that revenue has increased by 1% compared to 2020, reaching EUR 3,498 million. This is made up of positive organic growth of 5.5%, supported by an additional 0.3% from the net effect between M&A acquisitions and sales, and only diminished by a negative currency effect of 4.8%. Geographically, all regions also posted positive organic growth, including Europe, whose negative decline of -1.3% was due to the sale of the Prosegur Soluciones company to Movistar Prosegur Alarmas. If this effect is excluded, Europe's sales grew organically by 1%, while LatAm and the rest of the world increased their revenues by 10.9% and 11.3%, respectively, in local currency, or by 1.2% and 10.2% if the negative currency effect is deducted. This is a good indicator of how our volumes have progressively evolved during the year. In fact, if we analyze the development of our volumes on a quarter-by-quarter basis, our two main revenue drivers, cash and security, have gradually improved their organic growth compared to the same period in 2020. With the sole exception of the first quarter of 2021, in which Prosegur suffered the most from the pandemic and climatic conditions in Europe, and whose comparable benchmark was the first quarter of 2020, when the pandemic had not yet been declared. It is also worth noting that the strongest improvement was achieved in Q4, which benefited from the general recovery of the economy. Reported EBITDA is still negatively impacted by the pandemic-related unproductivity, mainly in security. Consolidated net profit remains at EUR 59 million, almost at the same level as in 2020. Let us now analyze the consolidated profit for the period. EBITDA has reached EUR 223 million. This represents a decrease of 13.7% compared to 2020. As already mentioned, this can be partly explained by the reactivation of investment in digital transformation that has been put on hold during almost all 2020. Mainly by the strong negative impact that the Omicron variant imposed on the security business through increased labor unproductivity. The high number of positive COVID contagions, which occurred mainly in Spain, Portugal, Argentina, and Brazil, had a strong impact on our workforce, drastically increasing absenteeism and forcing us to replace all sick leave of operational staff with substitutes who had to be compensated for the extra work and overtime. In addition, some labor regulatory changes in Latin America at the end of the year allowed us to dimension the workforce in line with actual market demand. We have chosen to defer this additional cost in 2021 to benefit from a cleaner cost structure from the beginning of 2022. Lastly, we have also increased our commercial investment in the U.S. to take advantage of the increased market demand for our business. We are proactively expanding our structure in this market to be able to serve this potential higher demand. As you can see, all these negative effects are temporary or one-off in nature, and we firmly believe that security will resume the positive trend of profitability growth that it has been experiencing for the last two years. The chart on this slide clearly shows how our margins have gradually recovered on a sequential basis, with the sole exception of the previously mentioned impact that security has suffered in Q4. Let us now take a closer look at our cash flow statement, financial position, and balance sheet. Starting with the cash flow statement, the most remarkable aspect is, once again, the excellent ratio of EBITDA to cash conversion, which reaches almost 80%. This ratio exceeds the already very good values of the last three years before the pandemic. The main reason for this is the positive development of the working capital, especially in the last quarter, which was favored by the continuous optimization of the DSO. Please bear in mind that in December 2020, many special effects from the COVID outbreak were included in working capital. Regarding tax payments, I would like to mention that despite the fact that the tax rate is significantly higher than the group's historical average, outflows in this regard have not increased equally, as many aspects that explain the increase in the tax rate are purely accounting in nature with no related cash outs. Capital expenditure continues to be contained, especially investment in infrastructure CapEx, which remains under control, representing 2% of total group sales. However, investments in digitalization projects have been reactivated, especially in the last quarter of the year. In terms of M&A, deferred payment settlement, mainly from Cash and Cipher business lines acquisitions, explains the cash out of the quarter. Lastly, regarding dividends, both Prosegur and Prosegur Cash completed the fourth and last committed installment of the year in October. Looking now at the group's financial position, total net debt at the end of 2021 amounts to EUR 845 million, including deferred payment of EUR 86 million, treasury shares at market price of EUR 37 million, and Telefónica shares of EUR 191 million. If we also include additional debt related to IFRS 16 of EUR 102 million, the total net debt reaches EUR 947 million. Regarding net debt, I would like to note that this ratio remains almost unchanged in the reported period compared to the previous quarters. Outflows from dividend payments, M&A, CapEx, and taxes were almost completely offset by the positive operating cash flow of the last three months of the year. In terms of leverage, Prosegur continues to have a moderate net debt to EBITDA ratio of 2.3 x, well below current bank covenants of 3.5 x. Prosegur maintains its traditional financial discipline and guarantees a solid financial position, even in the most difficult conditions, such as the healthcare crisis, which still affects our results to some extent. In terms of pure cost of debt, I would like to highlight the efficient management of financial costs, which has allowed us to keep the company's average cost of debt very low and almost unchanged throughout the year. Let us conclude our overview of the financial information by looking at our consolidated balance sheet. In general, there were no significant changes in the fourth quarter of 2021, apart from the impact on intangible assets due to the impairment of EUR 80 million related to the Australian business. Please note that this impact has not been included in the income statement of this presentation as it is a one-off effect of non-recurrent nature. This being said, I would like to highlight that the most remarkable aspect of the Prosegur's balance sheet is its historical solidity and stability. As always, our maturity profile is worth mentioning as almost 85% of our financial liabilities are of a long-term nature. Liquidity is also one of our greatest strengths. It currently covers more than 80% of the main debt maturing in the next five years. Moreover, the maturities of the main financial facilities are spread over the years, avoiding a concentration of due dates. Last but not least, another noteworthy aspect of Prosegur's balance sheet could be the quality of our client portfolio, which historically has a very low percentage of insolvencies, representing less than 2% of the group's total turnover, 1.15% in December 2021. That is all from my side for the time being. Thank you for your attention, and I will rejoin you for the Q&A session. I will now hand over the presentation to our Head of Investor Relations, Antonio de Cárcer, who will give you more detailed information on the development of the individual business areas. Thank you very much, Maite. Let's now have an overview of the results of each activity line, covering the main performance indicators of each one. Starting with Cash, we can see that revenues in local currency terms have grown by almost 7.2%. A very good result coming from a generalized increase in volumes in all the geographies, despite the strong negative effect suffered by lockdowns during the first half of the year. Inorganic growth of 0.2% comes from the differences between the acquisitions made in LATAM and Asia Pacific, deducting the sale of the AVOS business to Prosegur. Negative translational currency impact has also been milder than in previous quarters, and the overall result in euro terms has reached EUR 1,519 million, almost a 1% increase over 2020. Worth noting the excellent performance of the new products that now account for more than 21% of total Cash sales, with very good penetration figures in all geographies, being quite remarkable the evolution of both Cash Today solutions and CorBan business that have grown a significant almost 48% year-on-year. On the profitability side, EBITDA in the period has totaled EUR 185 million, keeping the EBITDA margin figure on par with last year. A very good figure, considering that at consolidated group level, the capital gains obtained from the sales of AVOS to the group are not accounted, and that in 2021, Cash was no longer benefiting from the special support programs put in place by some governments to guarantee subsidies distribution to population during the worst of the pandemic. Normalizing those effects, underlying margins in Cash have been improving quarter-on-quarter throughout the full year. This is an excellent proof of how fast the business recovers from adverse situations and how during 2022, profitability will continue improving, taking advantage of the macro tailwind that inflationary economy can bring. In Security, we can also appreciate positive organic growth of 2.8% and an additional 0.1% of inorganic nature from the acquisition made in the U.S. in August. A negative currency effect of -3.4% has led to a total turnover in euros of EUR 1,735 million. This represents an almost flat decline of 0.5% compared to 2020. Volume growth was led by the U.S. with excellent 16% organic increase, and followed by Spain and Argentina, which showed a very good recovery trend in the last half of the year. This growth has come about to a large extent due to the increase of technology sales. Indeed, technology is gaining more and more presence in our product mix. A good proof of this is the expansion that it has experienced in our mix of the new products over the last two years. As you know, in recent years, we have used the term Integrated Security Solutions to mean a combination of man guarding services with remote monitoring and technology products that together provide a coordinated solution for each individual customer. In this context, we have now decided to expand the disclosure of the weighting of the individual components in the Integrated Solutions mix. As you can see in the chart, pure technology products are gaining more presence in our new products every year. They now account for 57% of the total mix, although they were affected by the supply shortages in the microchip industry at the end of the year. This is a very good progression that should accelerate in future as we add new customers every year with our model of Integrated Security Solutions. In terms of profitability, as Maite Rodríguez said, Security EBITA in Q4 was impacted by some temporary negative effects that reduced the overall margin from 3.9% in 2020 to 2.6% in 2021. The main cause of this margin erosion is the strong negative effect that the Omicron variant had on the business, leading to high levels of unproductivity and labor absenteeism. This, together with the strong commercial investments we are making in the U.S. market to drive growth and the one-off effect of some staff adjustments we made in Latin America in December, also due to the impact of the pandemic, has had a temporary negative impact on the profitability of the business, which we expect to fully correct in the second half of the year. Let's now move on to alarms. We are extremely satisfied with the performance of this business in 2021, despite the negative impact in terms of churn rate and stagnation of sales that we suffered during the confinements in all countries. As you can see on the graph, both Movistar Prosegur Alarmas in Spain and Prosegur Alarms in the rest of the world increased the number of new connections from quarter to quarter. In total, they reached more than 700,000 customers, with MPA showing a phenomenal increase in the second half of the year. The dynamics of each company were different but equally positive for each one. On the one hand, Prosegur Alarms has focused part of its commercial activities on building alliances and potential partnerships in LATAM that will accelerate the future growth of this customer base. In this context, following the success in Spain, we have signed a commercial agreement with Telefónica in Colombia, which is now starting to bear fruit and increase the number of new clients. On the other hand, the business has demonstrated it can quickly recover from the negative impact of the confinements and lockdowns, reducing the churn rate by 150 basis points to 12% and increasing its ARPU to EUR 32 per client. This increase in ARPU is largely due to the addition of several new products, such as Contigo, mobile personal protection service, which was requested by almost all new customers, and also by the advanced features implemented in both the new domestic panel and our SME solution, Hawkeye, which now incorporate artificial intelligence and video analytics to provide our customers with more advanced services, such as facial and voice recognition or machine learning of lifestyle habits. MPA, on its side, has become the fastest growing alarm company in the Spanish market, leading the market in new contracts with quarterly increases up to 31%. This represents a growth of more than 66% since its creation two years ago, and exceptional value creation. Also very remarkable is the fact that more than 85% of new contracts come from customers who previously had no alarm system on their homes. This shows that the market is still not sufficiently penetrated and that similar or better growth rates can be achieved in the incoming years. If we now look at the key performance indicators of the alarm business broken down by company, we can see that MPA increased its customer base by 40% compared to the previous year, achieving a total of 352,000 clients, while Prosegur Alarms keeps its total contract base almost flat while recovering from the strong churn rate caused by the pandemic in 2020. MPA's churn rate remained at the same level as in 2020 at 10.6%, an excellent result considering the aggressive advertising campaigns carried out during the year, which could theoretically increase the number of less reliable clients. On the other hand, these promotional efforts have had some impact on the ARPU, which has fallen to EUR 35 due to the aggressive offers made to the customers in Spain. In the rest of the world, as already mentioned, ARPU has increased to EUR 32 per client. Subscriber acquisition cost, or SAC, has also decreased in both companies, thanks to the efficiencies and economies of scale resulting from higher customer density and financing programs. This effect is not yet clearly visible in our reported cash flow, as the comparative figures from 2020 still include two months when Spain was still in the portfolio, creating a distorted comparable effect. Reported revenues only refer to the perimeter of Prosegur Alarms. As you know, MPA is consolidated using the equity method. In this regard, we can note an excellent organic growth of 18.2%, reflecting the strong ability of this business unit to increase prices. This is only diminished by the corresponding negative inorganic effect from the sale of the Salesforce service company, Prosegur Soluciones, which was sold to MPA in Q2. Finally, in terms of profitability, MPA has slightly reduced its EBITDA pre-SAC margin down to 51.2%, and similar happens to Prosegur Alarms that reports 41.1%. This is mainly due to both companies' investments in innovation and technology to launch new products. This effect will hopefully weaken as the customer base continues to grow. To conclude the analysis of the different business lines, let us now examine the performance of our newly created business, AVOS and Cipher. With AVOS, we appreciate a very good revenue growth of 10.3% and a gross margin expansion of more than 20%. The company's good performance is spread evenly across all product lines, including front office and back-office services, plus technology products geared towards insurance and financial companies, reinforced by the recent acquisition in Chile of one of the main BPO product solutions providers in the market. Meanwhile, Cipher, our cybersecurity business, has been redefining its business model by shifting its customer portfolio from one-off implementation projects towards a mix of more recurrent services based on monitoring and response. This required additional investments and reduced revenues. However, sales have maintained flat at good organic level, with only some FX impacts, since a large portion of our revenues comes from the U.S. and Latin America. Nevertheless, Cipher has become the focal point of the strategic alliance signed with Microsoft at the beginning of the year. As indicated by Antonio Rubio in his introduction, this partnership will lean on Cipher at a global level to jointly develop with Microsoft the foundation of the services that Microsoft will be providing to their corporate clients in terms of managing detection and response in cybersecurity and data governance compliance in their cloud solutions. This was all regarding the evolution of each individual business line during 2021. I will now hand over the presentation to our Secretary General, Antonio Rubio, to provide information on our ESG and sustainability achievements in 2021, as well as his final remarks. Thank you very much, Antonio. Now, before moving to my final remarks and conclusions, I want to provide you with an update of how our ESG commitment has progressed over the past year. This year, 2021, has seen a considerable reinforcement of all the sustainability and governance standards that have been in place at our company for many years, adapting them to the new taxonomies and metrics, combining them all together within our new sustainability policy. This document was accepted on October 21 and will be overseen by a newly formed Sustainability Corporate Governance Appointments and Remuneration Committee at the board level. We also approved our new Sustainability Master Plan for the incoming three years. 63 distinct initiatives are covered by the plan, which is organized around four key areas of action, ethics, transparency and governance, environment, and people and safe work. All of them will have detailed indicators to allow to monitor progress and improvement. We have also strengthened our agreements and affiliations with prominent ESG organizations, including Forética, The Climate Pledge, or the Global Compact, in order to assist us align our goals with the global ODS. We have increased and deepened our involvement with ESG rating agencies in recent years. With our dedicated ESG team, we are aiming for a fluid bidirectional communication approach. As a result of those initiatives, we are very pleased to see how our ESG ratings have improved in all the process during the past 12 months, and also to welcome the new AENOR Good Corporate Governance rating that has awarded Prosegur with the highest qualification, being the first company in Spain to obtain this scoring. We will continue improving and expanding our commitment with sustainability in all fields of action as it now has become a cross-functional requirement in all our business line. As such, we will be constantly monitored and measured. Now, before going to our closing remarks, I would like to express my foremost appreciation to all of you for all the support, dedication, and good relationship you have shown to me during the past 12 years. As you know, I have been promoted to the position of Secretary General of the group, and Maite Rodríguez has taken over the role of CFO at Prosegur. Today, I want to congratulate Maite for her promotion. Fully confident in her capability and experience to assess and manage all the financial aspects of the company, improving them to higher standards, and continuing with the excellent financial discipline that the group has created over the past two decades. Having the opportunity to communicate with all of you throughout the years has been a great pleasure for me. Learning from you all and hopefully being of use to you in better understanding our company and its fundamentals. I will continue to be at your complete disposal in my new position, and hopefully, I will remain in touch with all of you in future occasions. Let's now finish this results presentation with a summary of our view on the current and future state of our company. 2021 has been a challenging year for all. However, we are pleased to see how our business strategy has been able to overcome the majority of these challenges, resulting in positive volume growth across nearly all product lines. With Cash steadily increasing both revenues and profitability, taking advantage of the current inflationary environment that will accelerate cash volumes and speed up price transfer processes. Security also returning to positive growth, only affected by the still present negative pandemic effects that are also gradually fading. Alarms, on Prosegur's side, has also shown an excellent level of resiliency, improving its key performance measure and sequentially expanding the number of clients on a quarterly basis. We expect this trend to accelerate in the coming months, and the business unit is now focusing extensively on expanding alliances in order to increase growth across all geographies. Regarding Movistar Prosegur Alarmas, I like to highlight the exceptional value creation that this joint venture has produced since its creation in March 2020. During this time, more than EUR 400 million in enterprise value has been created based on current market multiples. This is an extraordinary figure that we are confident will continue to increase at similar or higher rates in the coming years. M&A has been active in this year, contributing another EUR 73 million of enterprise value to the group, and will continue so during 2022, as we have a consistent pipeline in practically all business lines. We continue to generate a strong cash flow and maintain a favorable DSO trend. This, combined with a moderate leverage level and well-managed capital, ensures that we have liquidity and firepower to continue increasing our M&A and serving our dividend to shareholders. Finally, we'll continue to improve in all the ESG metrics that we have specified in our strategic plan, providing more precise information to the market about our goals and accomplishments, aspiring to be a model for strong sustainability practices in the industry. This concludes this result presentation. Once again, thank you very much for your attention. Now our CFO, Maite, and I will gladly attend all your questions. Thank you. Ladies and gentlemen, we will now begin the question-and-answer session. As a reminder, if you wish to ask a question, please press star one on your telephone and wait for your name to be announced. Please stand by while we compile the Q&A queue. This will only take a few moments. If you wish to cancel your request, please press the hash key. Once again, please press star one if you wish to ask a question. Your first question today comes from the line of Francisco Ruiz from Exane. Please go ahead. Your line is open. Hello. Good afternoon, and congratulations to Maite and to Antonio. Antonio, we will miss you. Mr. de Cárcer, I think you should be the next one. I mean, three questions on my side. I mean, the first one is if you could quantify this impact of absenteeism in your margins in security, and if you could give us an impact of what could be this impact in the U.S., where the labor cost is I mean, well above the rest of geographies. My second question is on the CapEx. We have seen an acceleration on CapEx in Q4, so I don't know if this Q4 CapEx could be a good indication for 2022 number. The last one is, I mean, Antonio has commented on the change in the scope on alarms, okay? Something like Prosegur Soluciones. Can you give us more information about that? Thank you. Thank you very much, Paco, for your questions. In relation to the unproductivities coming from security business, the main impact, the global impact is around EUR 3.5 million. If we go back to U.S., we are also having some significant unproductivity impacts, mainly coming from the problems that we are having from hiring people, because as you know, U.S. has full employment and this is becoming an issue. In relation to the CapEx, as you know, we are recovering and reactivating the data transformation investment. We are also increasing in new products. For 2022, we will be more or less same line as we have been in 2021 in relation to the infrastructure CapEx, around 2%. For the new products, we will have an increase and the same trend as what we have had during this last Q. In terms of alarms, I don't know if you can repeat the question, because I forget it. I mean, on the alarms is that Antonio de Cárcer has commented that there is a change in scope. I mean, in your presentation, it's something like around 18% of the sales of last year due to the disposal of Prosegur Soluciones. Could you give us more detail? Just a follow-up to be sure on what you have commented. It's 3.5 the total effect on absenteeism. At the end of the day, we are talking about a slightly higher margin than the one that you released. How confident are you on reaching the target margin in 2022 of between 4.75%? Okay. Thank you. In terms of alarms, yes, it's Soluciones, and we sold it due to MPA during this year. We didn't have any very significant impact in our P&L. I think that is close to EUR 2 million or something like that, but it's something insignificant. In terms of all the one-offs that we have suffered during this Q4, we didn't just have the unproductivities caused from Omicron variant. There are other additional effects, such as dismissals in Argentina after the last labor regulation changes. Even though it had a negative effect during 2021, because it will have a positive effect in 2022 because we will be more efficient in labor costs. This total labor layoff impact amounts around to EUR 7 million. We also have the investments in new talent and commercial force in U.S., with for this full Q is also around like EUR 3 million. We have the reactivation of the digital transformation that full year we have like EUR 13 million more than previous year. If we consider all those impacts, we should be in an EBITDA margin in comparison in security business above 4%, so better than the last year. Okay. Thank you very much. Thank you. As a reminder, to ask a question at this time, please press star one on your telephone keypad. Star one to ask a question. Thank you. That will conclude today's Q&A session. I would now like to turn the call back to Mr. Antonio Rubio for any additional or closing remarks. Paco, thank you very much for your polite words. It had been an honor for me to represent Prosegur in front of the financial markets during the last 13 years. I am leaving the financial responsibility of the company in the best hands, and you have had an opportunity to test it. Thank you for these years of great comradeship. Thank you very much for attending this presentation. You have at your disposal Maite and the rest of the IR team. Thank you for attending. Bye That will conclude today's conference call. Thank you for participating. Ladies and gentlemen, you may now disconnect.