Good afternoon, everyone. Can you hear me well Very good. Lots of energy in the room. Good afternoon, everybody. It's a pleasure to welcome you to Titan's Investor Day here in Athens, Greece, on this day. We're delighted to host today a wide universe of audience. We have analysts, we have investors, we have representatives from banks and the whole finance ecosystem. Thank you very much for being here today. We also have members from our executive committee and also have BOD members. Thank you all for your support, and your presence is greatly appreciated. By way of introduction, I'm Spyros Kamizoulis. I'm heading the investor relations here at Titan. We have planned for you today a quite packed agenda. It's going to be close to three hours, so please be mindful of the timing. When I had a rehearsal yesterday, let me share a thing. It was raining, cats and dogs. When we had the previous Investor Day, back in 2023, on the day of the event itself, it was shiny. The previous day, it was raining cats and dogs. The share price at that time, it was EUR 18. If you're looking for a pattern given today's sunny weather, I hope there is one. During that last time, we've done a lot of things with the leader's solid performance. We've seen meaningful actions across all the pillars of our strategy. We've strengthened the business fundamentals. We're advancing decarbonization, accelerating digitalization. Eventually, all that helped us into capturing growth opportunities. What do we plan for you today? Again, we're going to start by some presentations. That's not going to take much longer before we go to the break. We start by a welcome speech. We deep dive into the characteristics of the US region, as well as of Europe and the East Mediterranean. We're going to have a break, 15 minutes. Please be spot on that. We're going to follow up with sessions on sustainability, ACMs, Alternative Cementitious Materials. You're going to be listening to that acronym many times today, but also many times in the future. We're going to follow up with a deep dive on digital and technologies, how all these technologies are shaping the future, and how do they help Titan. We're going to speak for something that I think most of you in the room care about, numbers. It's going to be the finance part. We're going to have some closing remarks and a Q&A session. What is going to follow after are exhibition booths. Most of you have seen them outside. There is a number on your name tag. You can all see the name or the group you're allocated to. We are going to be split into three different groups, and we're going to be switching those three different booths. More to come later on. You can see the presenters on the screen, but you can also see them on the printed booklet that you have in front of you, which is the presentation. You can also find the CVs of the presenters at the appendix at the end of the booklet. Now, let me ask you for one thing before we go to the main content. Let me ask you to make sure that your mobiles are on mute. Before we begin, I'd like to thank everybody who contributed to this event. I would like to thank our investors and partners for the continued trust and also the engagement we have been having for the last couple of years. I think we are ready to go. Before we go to the first speech, let's take a moment to capture how Titan is moving forward. Let's see a little bit the progress of the people, but also the vision that we have for the future. Welcome. Welcome, one and all. It's great to see familiar and new faces. On behalf of the whole Titan team, the whole Titan family, we're so happy you joined us. Thanks for taking the time. We hope you'll see that it's going to be useful and insight-building. With this, I give the floor to our Chair, Dimitri. Hello, everyone. Over the next couple of hours, Marcel and the team will take you through the nitty-gritty of what is, in my mind, a pretty compelling growth strategy for the next three or four years as we look ahead. In terms of introduction, Alexandra and I, who have spent the better part of our professional careers shepherding this company through good times and bad over the last 30 years, would like to zoom out just a bit and look at the broader picture. Any company that has been around and has survived, indeed thrived for 123 years, has learned how to develop a certain number of capabilities that allow it to grow, to adapt, and to evolve. It is easy to underestimate how important it is to create the context in which it is possible to create and sustain those capabilities. Having a sense of purpose and a clear set of values to drive behaviors is a very important part of that. At Titan, we have explicitly articulated a purpose that says that we want to make the world around us a safe, sustainable, and enjoyable place to live. Yes, we do believe that a cement company can help make the world more enjoyable as hard as it seems sometimes. That sense of purpose is underpinned by four core values, which we have refreshed recently. We care, we dare, we build to last, we walk the talk. We care about safety. We care about our customers. We care about our people. We care about the communities around our plants. We care about the environment. We dare to take on challenging jobs. We dare to innovate and take risks and think out of the box. We build to last by focusing both on the long term and the short term, by collaborating inside the company and outside the company, and by striving to continuously improve. We walk the talk by keeping our promises, by delivering results, by leading by example. For some, all that may sound a bit soft and wishy-washy, and for some, it might even engender a sense of cynicism in today's world. For us, it is the bedrock of our culture. Although we are far from perfect, and we have stumbled in the past, and we will no doubt stumble many times again in the future, it is this set of values and purpose that allow us to pursue long-term sustainable value creation for our shareholders, which is, after all, the reason we are here. This set of values, in turn, drives a culture. A culture that, as some say, eats strategy for breakfast. A culture that allows a company that has been listed since 1912 and responds to the day-to-day of the stock market, but also is still controlled by a core shareholder group that is dedicated and passionate about the business. Those two allow us to combine long-term value creation with short-term performance. It is a culture that allows us to demand meritocracy while at the same time having a human face and being able to be caring. It is a culture that allows us to view decarbonization or digitalization as an opportunity, not a threat. It's a culture at a time of radical transparency in which we can be transparent because there isn't much to hide. It's a culture that, in our complicated business, allows us to have continuity and resilience, but at the same time, agility and innovation. It is that culture, in my mind, that has played a crucial role in allowing us to navigate the various phases of our history. A first phase, first 60 years of the business. The business was basically the Alexis plant. That was it. A business that early on learned to export since the 1920s. A business that survived world wars and occupation and near destruction, which allowed us to move to the second phase, one of national expansion. As Greece industrialized in the 1960s and 1970s, we expanded across the country and also developed our particular distinctive approach to what later came to be called corporate social responsibility. In the 1990s, we were finally allowed to look outside the borders. That led to international expansion to our current multinational footprint around four continents and allowed us to also vertically integrate beyond cement into related businesses. That, in turn, is leading Alexandra to this decade with a new phase and new challenges. Thanks, Dimitri. Coming to the present and the future, we truly believe we're on the cusp of a new era that's going to prove to be transformational for our products and our markets. Those who know me know that I don't really use that word. I think it's often used in an exaggerated way. Give me a minute to tell you why we think that our markets are on the cusp of a transformational era, because it will give the context to a lot of what you're going to hear for the rest of the day. We've been blessed with products with a super long life cycle. Super steady returns, super steady markets. Over time, there's been megatrends like urbanization or like infrastructure development or like need for affordable housing that have developed our markets. The current megatrends, be it the imperative for decarbonization, be it the demand for new high-performance concretes, these are quite transformational. These are going to change our product radically. And not just our product. At the same time, the advent of AI is changing our process. It's changing the way we operate our facilities, the way we interact with our clients, the way we manage our logistics. It is no exaggeration to say that we are in a transformational era, and we're going to capture that era at scale, at speed. In short, I think if there's a message, and it's going to permeate every speaker's, I think, address to you, is that at Titan, we embrace change as an opportunity for growth. I'll just take two minutes to guide you why we think we're also well-positioned to capture opportunities along three lines. First, our geographic markets, right, our presence. Starting with the US, which is by far our largest market. Those of you and many of you here, I think, follow our results reporting. Titan America, in what has been a relatively soft market because of weak housing demand, residential demand, has outperformed markets in recent years. We are here, as we are standing, to say that trends looking forward, the outlook is quite positive, right? On a national level, we have sort of interest rates expected to start declining slowly. This should bring a rebound in residential. Infrastructure will continue to be strong. All in all, we expect the nationwide trends to be super positive. At the same time, we are present in some of the highest growth markets in the country. What is more important is our network of assets. A network of assets that's with huge capabilities, that's vertically integrated, able to deliver the best product to our customers. We expect for us to, for our performance to keep exceeding the trend as we move into this next phase in the US. Similar story in Europe. There, too, maybe it spans national borders, but we're talking about a network of tightly run assets with significant operational capabilities and synergies amongst them. Not only that, but we are leaders in most of these markets. We have a strong brand name. Above all, we're super local. We're very close to the local communities, the local market, the local customers. In Europe, you'll hear much more about our delivery of low-carbon cements, of alternative cementitious materials. This word you're going to keep hearing. Our drive for new product technologies and new products. At the same time, East Med, clearly our lowest performing region until recently, is rebounding nicely. The macro backdrop is improving. Demand in the local markets is improving. More importantly, we continue to think about these markets as long-term growth potential markets. You know, the demographics are depending on this, the economies. More to the present, these are very cost-competitive markets. It is a basis where they can start expanding their export potential and be very complementary to our other two businesses. In short, throughout the three regions, we expect to keep exceeding the market growth trend. Now, that is our geographic markets. The materials. You are going to hear a lot about how we are broadening the product portfolio. Clearly, we are going to keep investing in our core heavy-building materials. This is where most of the cash flow will come from in the coming years. We are going to keep being very disciplined in how we execute on investments in this domain. What you are going to hear a lot more about is the future value pools, the future growth pockets that we see, namely alternative cementitious materials, new high-performing concrete products, pockets of growth like precast, all these new products that we are going to deliver to the market at speed. What will become evident is we are going to use innovation to drive a lot of these new products. That is going to permeate, again, every speech you hear, not just here, but also in the booths, how you will be showcased with a lot of case studies of how we use innovation. It will become quite clear what innovation means in our industry. Finally, coming to our operational model, our model of operation. We have always prided ourselves in being world-class in terms of our operational performance. We have done this through some pretty systematic and disciplined, well-executed industrial and digital investments. On top of that, we have some pretty unique core capabilities that we have built on. It goes back to operational excellence, entrepreneurial spirit, being close and very local in each market, coupled with some pretty unique capabilities. Just to name a couple that you are going to hear for the rest of the day, one is our proprietary ash beneficiation technology, which allows us to bring to market cementitious materials in a way that other competitors will find hard to replicate. The other one is our digital, our sort of broad digital tools that we have developed. This is a journey we started 10 years ago, but now we are going faster at scale. We're pioneering this in our industry, whether it's the real-time optimizers we use, the predictive maintenance tools. A lot of efficiencies to be driven out of that. This brings me to the new operating model. We're going to look to leverage all of these capabilities, driving innovation, developing new technologies, and providing true commercial excellence. This is the best way to segue into presenting the next speaker, the Chairman of our Group Executive Committee, Marcel Cobuz, who's going to guide you through the new operating model and a five-year strategy. Marcel. Good afternoon. Hello, everyone. Thank you, Dimitri and Alexandra. Big thanks to our core shareholder group for your passion, your commitment, and your endorsement of our Titan Forward 2029. Thank you to all investors in the room. Thank you for having Titan as your preferred investment. Thank you to all those who cover us on equity or debt markets day in, day out. This is your event. What a nice setting we have found and how blessed we are with this weather. It is unprecedented to see just a few steps away so many cranes in one of the projects, which is the largest urban regeneration project in Europe, 2 million sq m, EUR 8 billion in investments. I can tell you that we have two state-of-the-art ready-mixed plants there. I call concrete a liquid stone. Every second liquid stone, which is poured in high-rise infrastructure or housing, comes from Titan. Not far from here, maybe tens of kilometers away, we have a cement plant, which is a testing bed for the newest technologies in cement. It is a flagship plant, the Kamari plant for Titan, where we are also exploring these days one of the newest technologies, a breakthrough technology, which is carbon capture and storage. All this in the perimeter not far from where our investor day is today. Let me walk you through the six messages of today. The first one is that consistently over the last three years, quarter in, quarter out, Titan has outperformed the markets it is operating in and the peers it is compared to. This is the strongest proof that execution capabilities are there, and we are ready for the next interval. The second message, and we'll provide you more details, is about achieving our 2026 targets one year in advance, at the same time investing in growth, which is a proxy for the years to come. You know that we have also delivered a top total shareholders' return. Last time I checked, it was close to 260% compared to January 1, 2023. That brings me to the third message. Being listed on three European exchanges, Athens, Euronext, Brussels, and Paris, and more recently on New York Stock Exchange for our US business, that gives us the opportunity to look at the sum of the parts, looking at the market caps of our various parts of the group, which shows today significant value upside. Practically, with the multiples applied to peers, with no discount, trading discount, Titan deserves twice as much the market cap of today. Third, value growth is to come in Europe and US. We are seeing it as a multi-year growth cycle for the decade. We are well-positioned, and I will go to that in a moment, leveraging on three value drivers. Alternative cementitious materials. Let me decrypt it. It's time. These are materials that we started using a couple of years back, both for high performance, but also for decarbonizing our footprint. They can replace clinker, which is a byproduct of our manufacturing process, which is highly carbon-charged. They can replace clinker in cement, and they can replace cement into concrete. These alternative materials are a key strategic direction for us. We have it Pozzolan. That's the way Coliseum was built many millennia ago, and not for decarbonization reasons, but for proximity reasons. Technology and AI. That's our proxy for continuous improvement of our cost base, as well as of our interactions with the customers, our logistics and premium services, and the financial strength. The fourth message, and today we will give you enough directions and enough information for all the models of equity analysis to be rebuilt. We will be deploying EUR 3 billion-EUR 4 billion in capital over the next four years, mainly on growth, growth CapEx, and M&A. The fourth message is that we are ambitioning to build, to take the company for its current level of close to EUR 3 billion in sales, to a EUR 4 billion company in sales, with margin expansion of 250-300 basis points, targeting double-digit profitability and top returns in the 15%-17% top of the class. That's what Titan Forward 2029 is about. That's our commitment, shared commitment of the 6,000-plus team strong for the next years to come. Building a future-ready Titan, delivering top-of-class growth and returns top-of-class to shareholders. It is a team sport. Behind the early achievements of our 2023 strategy, which we deliver one year in advance, and pushing the targets for 2029, it is a team which is highly diverse, powerful, international. The top team is bringing more than 700 years of experience in industry, including transformative years, the decarbonization years or the high-growth years, but also an agile team which knows how to manage through the cycle. We have most of our markets managed with locals, with various nationalities, people coming from the markets, with more than 20-plus market-specific experiences. We have a nice blend of having together veterans as well as one-third of the top team joining from outside, technologists, sales and marketing specialists, business developers, M&A specialists, or new materials. Where is Titan today? Just in a nutshell, close to EUR 3 billion company. We will go into details later on how we topped our earnings per share, a true measure of long-term value creation, as well as 17.7% now for the second year in a row in terms of return on capital employed, one of the highest in the industry. The sum of dividends shared by BAC and extraordinary dividends post-IPO, they bring the shareholder returns to more than EUR 350 million. The credit rating recently reassigned by Fitch and Standard & Poor's at BB Plus with positive outlook. Titan is changing. I would point out two metrics there. One is that out of the 6,000 people we have, 3,000 have joined since December 2022, since early 2023. That shows how much Titan is transforming itself, not only in entering new markets, but also in rejuvenating its teams, in creating capabilities. The strategy is there also to have a common direction forward. The second metric is the number of bolt-ons or mergers and acquisitions, the number of strategic partnerships or joint ventures we have built over the past three years, starting with two in 2023 and ending with almost four in the last quarter, including the one in Northern France for which we just signed an exclusive negotiation. Over the period of 2023-2025, we have also deployed EUR 700 million in growth CapEx, which is the proxy for the growth expected this year and next year, as most of them went into capacity expansion, downstream channels management, but also additional storage and additional reserves of alternative cementitious materials. You have seen from the video, we praise ourselves for keeping the flag on being one of the most sustainable companies in the world as an accolade from Time, and also walking the line as a publicly listed company on multiple exchanges offering itself as a preferred investment. When it comes to the portfolio, those of you who follow us, you know this by heart, but I would like to leave you with three messages. One is we have a well-balanced geographical portfolio between the US, a strong growth engine, but also Europe where the carbon management initiatives are paying off, or Southeastern Europe, which has an infrastructure-led growth, but also with peripheral positions, which are excellent for low-cost delivered cements, low-cost delivered exports, as well as cementitious play. The second message is that we are present in these two pillars of growth with all our business lines. We have cement and alternative cementitious materials at 40%-76%, depending if you look at US or Europe. We have a strong vertical integration, how we bring those products to the market and offering premiumized services with presence of ready-mix on both sides, on both pillars. We have an increasing exposure to aggregates, which is, I would say, countercyclical given the infrastructure push now for two decades in the row to continue. We have an increasing number of smaller activities. We are increasingly sophisticated with a strong brand equity in all our markets. The third message is about our exposure to the end markets. We are not exposed only to one segment, be it residential or be it commercial. We are almost equally, depending on, like our CEO of Titan America says, zip code by zip code, or our CEO of Europe says, follow the customer where the demand is. We can follow at the same time infrastructure, commercial, and residential. You will find when you compare us with our peers that this is a rather unique strength that Titan has in its markets. We will not spend more time on the noise, the signals, and the mega trends. Just to say that the signals are positive. Yes, we face, we are facing headwinds on the macro and geopolitical volatility, be it on the interest rates, on trade policy, on energy costs, but at Titan, we know how to mitigate them. We are operating in markets with high energy costs. At the same time, we have doubled our investments in using renewable energy or using low-carbon fuels, which have offset part of these costs. The regionalization of supply chain is music to our ears. Thanks to our operating model, local for local, we are managing local assets for local customers with local teams, with unmatched local logistics. We can navigate the shorter supply chain. We will seize the opportunity of the US onshoring and for the decade to come, the EU enlargement, thanks also to our great exposure to the Western Balkans. The increasing demand of the Coliseum type of materials, the Pozzolan or the alternative cementitious material is a fact. Having added more than 150 million tons of reserves positions us well to face that demand for the years to come. Partly it is regulatory. On the 1st of January 2026, the Carbon Border Adjustment Mechanism will enter into force at the borders of the European Union. We are prepared to face the further reduction of CO2 emissions regulatory-based by improving our materials offerings to the customer. We are prepared, given the supply-demand dynamics and the fact that the US is a net importer market, to bring these materials from outside the US to complement our positions of clinker and cement in the market. The tech revolution, AI-driven demand, we are embracing it early at all levels. In the interactions with our customers, in the demand of our customers. I think Bill Zarkalis will mention what's our share of wallet in the data centers in the US. We are present in Virginia, the capital of data centers. We also have data centers and AI infrastructure here in Greece, where we are supplying our liquid stone to one of the projects here. The hyperscalers and data center is one of our key segments. I invite you all, after we have the plenary session, to spend time. We have a booth here with our marketing teams and innovation teams. They will walk you through how we look at the market differently, starting with the end user needs in mind. Therefore, we are tailoring offerings for marine construction, for hospitality, for waterways and highways, but also for data centers. There are some very nice proof points that you will see there. AI and tech is also impacting our next-generation manufacturing, and we will provide you today more proof points on how the return on investment is 500% by investing, sensorizing, and sweating our assets. Finally, the fundamentals of the business are stronger than ever. The EU and US have an infrastructure stimulus. The underbuilt housing on the Eastern US side or on the European side is in millions of units. The post-war reconstruction, be it in Syria, in Ukraine, is not far from the markets where we can supply these markets as the time evolves. Shaping those markets at different paces and riding those trends is something that we plan to do. We'll come just for a second on the achievement of our targets, just to leave you with two messages here. Sales growth, close to $3 billion. We had some portfolio optimization. We are there. We have reached overall a 7% annual growth rate. EBITDA overproportional, which shows also the margin expansion of more than 200 basis points over the past three years. We have doubled EBITDA compared to four years ago. At the same time, a true measure of long-term value creation is the return on capital employed, where we had a target of 12%. We have overdelivered, and we are consistently at 17.8%, more than double of what we used to have. Earnings per share almost tripled compared to three years ago. You will see we have even more ambitious targets to come. More importantly, our net debt to EBITDA level has reduced, divided by five, which shows the strength of our balance sheet going forward. It is not only numbers. It is the whole foundational capabilities that we have built over these years. Unlocking funds for growth, thanks to the IPO on Titan America and a strong generation of free cash flow. Invested already $700 million, which brought the results of 2023, 2024, 2025, but also as a proxy for the years to come. The 15 boltons and joint ventures and 13 venture capital investment and technology shows the appetite of us working with partners across the ecosystem, but also the appetite of others working with Titan. Overall, a replenishment of our product portfolio, almost one-third, mainly low carbon, high performance, and around cementitious. Also the entry into Precast. I hope today we will excite you about the merits of being in Precast for faster construction, affordability, dealing with the labor scarcity on sites, and also another decarbonized way of diversifying our revenue stream. That brings me to the strategic priorities for capturing growth for the next four years. No surprise. We remain focused on heavy materials, on our core businesses of cement and aggregates, where we will continue investing in order to deliver superior growth above market growth. The second is to double down on alternative materials platform. We have added 150 million tons of reserves. We plan to add another 100 million over the interval and pivoting our business model with an end-to-end, managing the source, but managing also the time to market of these materials, both in cement as well as in concrete, and creating a creative value. The third is investing in and scaling up on technologies and innovation, including new platforms like Precast, but also platforms which would expose us increasingly to the innovation and refurbishment market. We can be at the same time on the new build as well as on the renovation market, capturing that growth value pool. All this is based on a strong operating model where commercial excellence, new ways of selling, and a market-based performance model is going to be strengthened. Let's zoom on each of them for a few minutes. On the core heavy materials business, cement and aggregates, we plan to allocate up to EUR 2 billion. That is in growth CapEx and M&A, mainly bolt-ons. We will not shy away from bigger moves as they present to be attractive. First, we will continue having the house in order and managing the cost at a leading level. Our industrial cost, decarbonization cost, digital efficiencies, we plan to have them at EUR 100 million, which will be immediately into the margin expansion. Mainly on energy decarbonization using lower carbon fuels or renewable, on the materials using less carbon materials or digitalization of the assets. On the footprint, what you can expect from us is that we will work hard to manage the supply-demand dynamics in the US, where we are a net importer, and increase the cement capacity in the US, taking the advantage of value upstream. Also investing in the export mix assets in the Eastern Mediterranean, in Turkey, in Egypt, where we do have capacities which can be put on the market at low delivered cost. The commercial transformation and leveraging our newly launched branding family, Titan Edge for high performance or Titan Premier for premium services, that's going to accompany the introduction of the low clinker materials and new markets. I already mentioned about our approach to segmentation, which is end markets users in view. Finally, it's about doubling down on aggregates, countercyclical, taking the advantage of large infrastructure stimulus projects everywhere where we will continue investing in bolt-ons. We have just added over the past year, thanks to four acquisitions in Greece, close to 200 million tons of aggregates, again in an infrastructure-led growth market. Second, deploying $500,000,000 capital in reserves and M&A to boost our alternative cementitious materials. This is a real source of diversification of our revenue. We plan to have it at 10% or more of our sales by 2029, selling the product at different levels across the value chain upstream, replacing clinker, downstream, replacing cement while creating value. With the creation of three to four new multi-material hubs in the US and Europe, and the transaction we have entered into an exclusive negotiation in France is one of those beginning of proofs for this adaptable delivery model. The last one is leveraging our proprietary technology. Again, I invite you to see outside in the booths. We have brought a model of one of our machines, which is unique and which allowed us recently to win a project in the U.K., a decommissioned power plant which had waste material for years, landfilled. Thanks to our investment and leveraging our proprietary technology, we are reclaiming that material. We are putting it back in the market at a premium value and replacing high carbon material. Last, if it goes, is about innovation and new technologies. Here we have already announced a number of hubs closer to the markets in terms of innovation. We are also inaugurating a center for advanced technologies here in Patras in Greece, which will be an opportunity to showcase new technologies, including activation of cementitious. The new generation of what will follow after the Pozzolan and others, but also the carbon capture and storage that will happen in Greece. It is here. EUR 100 million allocated to innovation and EUR 400 million in total for product adjacencies platforms, Precast, but also exposure to building renovation segment, as well as new technologies for the next generation manufacturing. Again, this fellow over here, you can see it outside. That is physical AI. It is a robot which would revolutionize the way the primary inspection and the maintenance is done in our plants. This allocation of investment, a primary, it's mainly the key buckets, will allow us again to remain a preferred investment in the sector, bringing the company to a EUR 4 billion level of sales, the result of a sales growth of 6%-8%, an overproportional growth or a margin expansion of 250-300 basis points, which primarily comes from price over cost, but also from cost efficiencies, digital efficiencies, as well as a number of boltons. Earnings per share and ROCE will continue to improve, doubling the level of today in terms of EPS, moving from 4 to almost 6, and ROCE remaining at the level of 17%, while we are remaining at BB plus or investment grade with a net debt EBITDA less than two times, while investing EUR 100 million in innovation, creating operational efficiencies of EUR 100 million, and maintaining our trajectory of reducing CO2. In summary, that's our commitment as a team to build a future-ready Titan, delivering top-of-class growth and returns, and focusing our investments on value growth markets in Europe and the US, while maintaining top returns of 17%. With this, I hope you will all get excited with more granular news market by market, and I will hand it over to our CEO of Titan America, Bill Zarkalis. The IPO has turned to the bottle, I think. I'm going to leave it here. Hello, I'm Bill Zarkalis. Thanks for joining. I'm proud to represent Titan America. It's a leading supplier of construction materials, services, and solutions in the US. We believe that as a member of the group, but also as a listed company in the New York Stock Exchange, we believe we are the right choice for investors that want to participate in the new era of growth of the construction industry in the US. We have a unique vertically integrated business model. We have a hard-to-replicate logistics network. We have the capacity and the capabilities to capture the growing demand for our materials. We have an experienced management team with a proven track record of outperforming the market. I would like first to introduce Titan America for those of you who are not familiar. We are a supplier in the construction material across the Eastern Seaboard markets of our country. Our markets include three out of the 11 economic mega regions in the US, which are powerhouses of growth, productivity, and innovation. They represent about 25% of the population, the GDP, and the consumption of construction materials. We have leading positions in these very attractive markets. Looking at our key markets, we have 30% market share taking cement as a proxy, 30% market share in Florida, 32% market share in Virginia and North Carolina, and 24% market share combined in Metro New York and New Jersey. We have leading positions in very attractive markets. Let me just talk just a bit about the success story of Titan America. The purple line is Titan America's sales volume since 2013. The green line is the consumption of cement in the markets where we operate. As you can see, the Titan America team consistently outperforms the market. Our annual growth rate has been 7% in a market that grows at 2%. We outperform the market by 500 basis points. On top of that, the Titan America team has been delivering an unmatched financial performance. Over these 11 years, our revenue has quadrupled to $1.7 billion in the last 12 months. Our EBITDA has grown 10x to $380 million. We deliver a return on capital employed, which is above 20%. The Titan America management team has a consistent performance of outperforming the market with high quality of earnings. This brings us to two key competitive strengths that I would like to share with you. The first one is our unique vertically integrated business model. Over the years, we have built a comprehensive vertically integrated, complementary, and interconnected portfolio of product lines, whereby our downstream product lines are mostly self-supplied by our upstream product lines, which have high margins, product lines like cement and aggregates. In every market where we participate, we serve many parts of the value chain with our vertically integrated portfolio of complementary products. When we sell downstream product lines, we take advantage of a compounding effect, growth on top of growth, because indirectly, we also bring to the market our upstream high-margin product lines. This key competitive strength that we have explains and contributes to our ability to grow faster than the market consistently with a very high quality of earnings. The other key element, which is important to understand in terms of our competitive advantage and the moat we have built around our business, is the importance of logistics in the US construction market. This hard-to-replicate comprehensive logistics network that we built. Let me explain. A key element for our customers for selecting suppliers for major projects is time. Time is the biggest cost. For them, as they operate very complex job sites with time-sensitive workflows, it is important to have security, reliability of supply, and also timely supply. Another key element that we need to understand is that the logistics are very important because heavy construction materials do not move well. The logistics cost pretty fast becomes very high and can really shrink the margins. As we try to serve from our production sites remote customers, the logistics cost can become as important as the product cost itself. In order to address these key elements, we have built a very comprehensive logistics network. We have taken in our regions where we operate, we have bookended with two major sourcing hubs. On one side of each region, we have a major production hub producing all the upstream products. On the other side of the region, we have strategically placed a major sea terminal, which is a hub for imported upstream product lines. Strategically, we have placed these hubs on top of railway lines, which is the cheapest and fastest way to move heavy construction materials. On top of that, we have invested and built a logistics network interconnecting the hubs with our downstream production sites all the way to our terminals, to the last mile to the customer. This way, we offer to our customers from multiple sourcing points and through multiple routes, security of supply and timely supply. We become the supplier of choice, and this contributes to our ability to grow faster than the market. On the other hand, the fact that we have this strategic flexibility and we can reach with our products the job sites of our customers through multiple sourcing points and through multiple routes allows us to choose the most optimal one that leads to the lowest total cost to serve, which makes us, we believe, the lowest cost to serve supplier in the industry, which explains also the high quality of earnings of Titan America. These are two key, very important competitive strengths that we have. Let me just talk about why we are so bullish about the new era of growth in the construction industry in the United States. First, the transformative investment in infrastructure. It is $1.1 trillion. Roughly 50% of this has been already invested. We expect next year the investment package to be renewed into 2031. A lot of tailwinds, major tailwinds in terms of infrastructure. On top of that, we have manufacturing, reshoring, reindustrialization of the US, which gives a boost to the consumption of construction materials. Another key tailwind, which I'm sure all of you know, is the residential underbuilt. Recently, the Chamber of Commerce of the US has estimated the housing deficit in the US at 4.7 million units, where more than 1 million units of deficit is in the markets where we operate. Finally, there are key transformational themes that create value pools of high growth, high margin for high-performance materials, ultra-high-performance materials, resilient urbanization in climate adaptation, and also in new applications. Overall, our markets will be the beneficiaries of these once-in-a-generation tailwinds in the US construction market. Titan America is best positioned to capitalize on this new era of growth. This brings us to our blueprint of four key strategic priorities. The first one, as Marcel mentioned, is investing in continuing to grow our core business, our leading market positions, our comprehensive product portfolio, and our logistics network. The second key priority relates to accelerating our top-line growth and our margin expansion by developing and introducing new technologies, new materials, smart products, and new solutions into the market, and also going into parts of the value chain where we do not participate with products new to Titan America. The third key priority is an obvious one. We are going to capitalize on the value-accretive opportunities for acquisitions. There are many opportunities out there. So far, these 11 years, we have been growing predominantly through organic growth, and we have now opportunities to grow inorganically. Finally, digitalization is a major investment for Titan America, and we are going to talk about that. Let me give one example about core growth strategies. I cannot not mention something that we discussed last time. We're already investing in increasing our cement production capacity by 1.1 million tons. Today, I'm going to mention about our aggregate investment. We're investing already in our existing aggregate sites in order to increase both reserves and production capacity. We did that last year in Pensuco, and perhaps you heard our results this year. We're growing in terms of revenue in aggregates in double digits and in double digits growing in operating profitability. On top of that, we have in progress investment in novel low-cost extraction technology that allows us to recover aggregates where we couldn't do that economically feasibly in the past. We have in Pensuco, you are in detail engineering right now with a project that will increase our production in the next years by 1.25 million tons that we will beneficiate with this new extraction technology. Finally, we will invest both in greenfield opportunities and in acquisitions, both domestically and offshore, to increase our reserves and our production capabilities. Overall, very excited about our growth in aggregates. In relation to accelerating our top revenue growth and our margin expansion, I'm going to refer to two examples. One, where we develop and introduce into the markets new technologies to the market, new products to the market, proprietary products, which is in relation to data centers. One example where we're going down the value chain in places where we don't participate today with products that are new to Titan America. Let me start with data centers. You know that Virginia is the data center capital of the world, which is one of our key markets, and it represents 35% of the global hyperscale data centers in the world. Just the northern part of Virginia, around Washington, represents 13% of the global data center capacity. We have developed over the past year proprietary new technology, new products assisted with artificial intelligence design, and we have brought to the industry, especially the hyperscalers, high performance and ultra-high performance with very low carbon profile that helped them with the construction of these data centers. Between 2022 and 2025, we have supplied these innovative proprietary materials to 40% of the 250 data centers in our regions. An example in relation to adjacencies. Existing parts in the value chain where it is existing markets with existing products where we do not participate today, but we have a competitive advantage and synergies in order to do so. A key example that showcases a strategy is precast lentils. Lentils is the structural part above every door, every window. It is a very fast-growing application. We have the technology, the know-how in order to produce this, and we have tremendous synergies. We participate today in this industry with different products. We have the channels to market. We have the customer relationships. We have four complementary products that are being sold today. Our precast block, we have our concrete, masonry, and stucco. We are actively in this market, and we are going to add the lentils. This way, we will accelerate, as I said, top-line growth, margin expansion, return on capital employed in a way that we can have a fast entry into a new market for us and quick scale-up. This is the pattern for us, the blueprint to continue growing in other adjacencies. You can see in the slides some of the examples in other adjacencies that we're looking at right now. I just want to mention that recently, we achieved a major milestone in relation to our project, our investment in lentils. We got certification for 40 new lentil designs that meet the most stringent structural requirements. This now opens the gate for us to do detailed engineering for our new state-of-the-art manufacturing plant that we're building in Florida. Finally, our investment and our going into value-accretive acquisitions. There is great opportunity in the United States. The industry is still fragmented. There are opportunities for consolidation. We have the skills, the capabilities, the experience, the firepower. We have a strong deleveraged balance sheet. We have the generation of cash flow, and we have the hard currency of a public company in order to do value-accretive acquisitions. We have a clear strategy. We have a structured process, and we prioritize bolt-ons and also selectively adjacencies with strong synergies for value creation. The actionable universe is aggregates, cementitious materials. You heard a lot about that. Adjacencies, precast, and also even regional admixtures. I just want to mention an example. Last December, we acquired DM Connors, which is an aggregates business, relatively small, but we also secured decades of reserves of clay that will help us produce and introduce into the market a new cementitious material, calcine clay. We are meeting both of our targets to grow in aggregates and also in cementitious, novel cementitious materials. In relation to digital transformation, we are very strong. We are recognized as a leader in digital transformation in our industry. We see it not only as, excuse me, a lever in expanding our cost-competitive advantage as a low-cost supplier in the industry, but also as an opportunity for us to develop new business models and new service models. Antonis Kyrkos is going to relate to that in detail. I am just going to summarize the key takeaways about Titan America. A leading player in fast-growing markets, best positioned to capitalize in this once-in-a-generation tailwind for a new era of growth in our market. We have core strengths, core competencies that allow us to capitalize on this, like our vertically integrated product portfolio with complementary products, our hard-to-replicate logistics network that allows us to be the supplier of choice and also the low-cost producer. We have the capabilities and the capacity to capture the growth ahead, a management team, and an overall team that is experienced and delivers consistently above the market. We are very, very confident that we can deliver a powerful performance in a very attractive market. Thank you. With that, I want to invite Yiannis for European East Med, which is a key supplier also to Titan America. Thank you, Yiannis. Wow, Bill, what an exciting story for the US. Really, really impressive. I do hope, ladies and gentlemen, that I will be able to show you another equally exciting story that we have developing here in Europe and the East Med. The overall patterns are now hopefully becoming a bit familiar. We have macros providing strong opportunities, and we have assets and people who are helping us. We are well placed to capture these opportunities. Let's dive into Europe and the East Med. You have seen the list of where we have assets, how many, and so on. We are present in 11 countries in the whole range of products, from cement all the way through to new products like the precast that was mentioned already. What I would like to do is to invite you to take a step back and look at this from a more strategic perspective and see how these assets are actually configured to help us position ourselves and get the opportunities that we are going to mention in the macro trends. The first thing to look at is what is happening in Greece, where you can see that we are very well established, vertically integrated to be able to serve what is still a dynamically growing market. If you look at our cement plants and our cementitious sources, these are a base for creating the cementitious materials that are needed to decarbonize in Europe. We have the terminals in Western Europe through which we can supply that. If you look at the East Med, you can see that we have a very strong hub that is based there, serving a populous local market, but also an ability to export both into Western Europe cementitious to the US, being our key customer, and beyond. If you look at the Western Balkans, this is a cluster that we have mentioned quite a bit in the past. This is a region that is growing, is catching up with Europe, is integrating into Europe, and we have a network of plants that are able to serve that. Overall, this is a well-configured platform, and this is already delivering results. You can see we have already crossed the EUR 1 billion mark in terms of sales, and we are delivering almost double our historic EBITDA with EUR 275 million per year. Let us look a bit into what are these macro trends that are creating our opportunities. First one, what is happening in Western Europe? Here, the Green Deal is still driving the need for sustainability, but also competitiveness. What does this mean for us? It means a push for energy-efficient buildings for refurbishment. It means a big need for lower carbon products. It means a need for infrastructure to be built. It also means European Union funds coming to serve innovation projects like the one we mentioned in the beginning, our flagship project, IPHESTOS in Kamari. Looking into the Western Balkans, there is a market that is being fueled by EUR 20 billion per year, coming both from remittances, so individual remittances, and foreign direct investments. The East Med, keep in mind that the East Med, with 120 million tons, just Turkey and Egypt, this market is almost as big as the whole of the European Union. A very substantial market, which is now coming into a period of lower economic volatility. Finally, seaborn exports. Here, in addition to the global patterns, let's not forget, and let's hope that we're moving into an area of post-war reconstruction that is going to create a market of 100 million tons in the near area where we can serve from our export hub. These are the trends. How are we as Titan positioned to take opportunities and grow through these trends? Let me give you some examples. The first one is here in Greece and in Bulgaria. We see that we have a market of infrastructure projects currently running at more than EUR 12 billion. The key point here is that with our ready-mix plants and our quarries, we are very well placed strategically to serve these projects. We are already serving them today and to keep serving them in the future. You can see that the market, looking at the next three years, still has quite some way to go. We see Greece and Bulgaria going from about 7.5 million tons of cement per year up to approach 9 million tons. This, looking at the global environment, looks like a big number. If you compare it historically to the 15 million combined that these two markets have achieved, we see that there is still quite a lot of room to grow. If we look into the Western Balkans, here we have the position of the clusters. You can see that there is still a lot of development coming through, both for infrastructure, as the European Union is trying to integrate the supply chains, the markets to serve the needs for AI, energy, and so on, but also to create a convergence. What we have here is a very high level of per capita demand with an 8 million ton market, but still room to grow. If you look at the GDP per head, you can see what is the distance that still needs to be covered through this convergence. We are in the Western Balkans. We have grown, but we are still, as countries, at about a third of the European Union average. We have plants in every one of these locations serving both the big infrastructure projects, flagship projects like Mediterranean Games and Expo Serbia, and also the residential buildings that are happening through the remittances that are coming back. In Western Europe, this is something that was mentioned already, and that is a fundamental change that is going to happen from next year. We have the introduction of CBAM, practically a charge on CO2 on products imported. At the same time, a reduction of the free allowances it produces inside the European Union. This is going to drive up CO2 costs. It is going to drive up prices, but it is also going to give a very big incentive for innovation and for new products. Again, here, we are well placed with our access to cementitious, with our technology. We are already producing these products and can develop them even further to supply the Western European market. Egypt and Turkey, and this is a market that is led by my colleague Chrystos Panagopoulos, has proven to become an export champion. You can see that we are already in Egypt. We are exporting 30% of our production. If you can see the map, it is very easy to visualize how close we are to serve the reconstruction markets that I mentioned to you, as well as going beyond the Eastern Mediterranean bases into Western Europe and beyond. You see the market trends, and you can see that we are really well positioned to serve them. How are we going to do that? This is by now the familiar pattern of our three-pillar strategy: invest in our core, expand mainly in alternative cementitious products, and invest in adjacent businesses. There are two types of projects shown here, initiatives. Some of these are market-facing, and I'm going to give you some examples going forward. There are some that are more operational or technology-based. For example, our work on improving our operational efficiencies is something that my colleagues Samir and Antonis Kyrkos are going to explain more. Our investments in new technologies is something that Leonidas will cover. The middle segment, the alternative cementitious material, is going to be presented by Jean-Philippe. Let me stay on the market-facing opportunities of our strategy and how we're going to deliver. You have heard a lot about vertical integration. Just as a note, vertical integration, for anybody who has not picked it up, I'm sure you're all familiar, is moving beyond serving cement to the market to selling products that are closer to the customer, such as ready-mix concrete, adding the aggregates into the concrete, or going into mortars and so on. Vertical integration is very important because it brings us closer to the market. We have already delivered on the strategy. We have developed several new facilities. Some were mentioned already by Marcel. Perhaps those of you who flew in today or yesterday have seen that the airport in Athens is under reconstruction, parkings, and so on. That is another area where we are getting closer to the customer by setting up mobile units. Elliniko, it's next to you, but in case you've missed it, here's a picture of where we are supplying right now. This model, together with aggregates, where, for example, we made an acquisition in Thessaly, very well timed because those of you who follow the news, there's been a very big demand for post-floods reconstruction and flood protection works. This is the model that we are continuing to do in Greece, but also expanding further north, for example, in Bulgaria and in North Macedonia. In terms of targets, you saw that earlier in our slides. Right now, we are doing about a quarter of our business is coming through this vertical integration. Our objective is, through the planning horizon, to get this number to about half of our business, half of the business to come from vertically integrated activities. The second area of our strategy is continuing our building of the portfolio of value-added products. And here, we have two pillars we're working on. One has to do, again, with decarbonization, but again, offering products that are sustainable, on the other hand, are performing very highly, both in terms of durability and strength. This is all what our Titan Edge brand is about. We have already about 40% of our products coming into this category, so the lower carbon category. We intend to grow this within the planning horizon to 75%. The majority of our products within this planning horizon will turn into lower carbon solutions, again, based on our technology and based on our alternative cementitious materials. The second pillar of our products is what, and we heard it before, what are the customers asking? What are we hearing by getting closer to the customers? What are architects asking for? What are project developers asking for? Here's where we're offering solutions like special flooring with special fibers in it for logistics, very big logistics surfaces, or sustainable products, green products for data centers that have a particular sensitivity to deliver the future of AI sustainably, or coastal protection works through precast, where we're helping deal with the issue of coastal erosion as part of the adaptability to climate change. These are mainly coming from our concrete business unit. Already, 10% of our products are in this high-margin, high-value category. What we plan to do is to grow this to 25% of our portfolio. We spoke about adjacencies, and this is a really exciting part of our business. This is where we are trying to go into new territories that are serving the same markets, but from a different dimension. One of these is precast. This is something we're really excited about. We believe the time has come for that. There is a need for labor-efficient construction. You can see probably the biggest reason that we are now slow in construction in Elliniko and not moving even faster is the lack of manpower. Having products that are able to deliver with 70% less manpower is very important. Cost savings is critical, as is faster construction. When you're building malls, data centers, hotels, you want them to come quickly into the market. Precast is going to help in that very much. We have invested in a company called Bao Partner. This is a leader in Bosnia. We're helping them expand beyond their already very strong in Croatia and Slovenia and go further north towards the rest of Europe. At the same time, we are capturing this know-how in order to be able to transfer it into the rest of our region. Just to give you, beyond the macro theory, just to give you an indication of what the growth potential is, bear in mind that in Greece and the Southeast Balkans, the rate of penetration of precast is under 5%. Whereas if we just look at the average level for Western Europe, we are at 3-4x that, at 15%-20%. A lot of room to develop this market and to grow with this market. Mortars is the other adjacency we are very excited about. This is a product where we're looking closer to refurbishment, to insulation, again, things that are needs that are coming up, especially due to climate change and sustainability, but also the needs that are coming from the various architectural demands for our products. We started this in Titan with practically a single product, cement-based mortars. Now we have more than 250 SKUs, a huge broadening of our portfolio, both by using our own internal production and by trading products so that we can offer a solution to the end customer. We have grown from a low base, from an initial base, very fast, both in sales and profitability. We want to continue doing that, both organically, but also through partnership. Because in all of these adjacencies in our markets, what we can bring in the partnerships is our technology, but also our very strong, historic, reliable brand name that can bring us closer to the customers. I think we've skipped a slide on the financials. I might just tell you that in terms of the financials, let me just check. In terms of the financials, we have managed to deliver double the profitability of the last 10 years. If you look at three-year averages, we're at EUR 250 million. This has generated a lot of cash, which part of that is being reinvested in our own growth. We have invested in the last three years, we have invested more than EUR 200 million, both in growth projects, CapEx projects, but also in bolt-on acquisitions. These investments are what are going to drive our future growth and the next level of profitability from the level that we are so proud to have achieved today. Let me summarize for the European region how we see the implementation of our strategy. First of all, we are very confident, very optimistic looking at the macro trends. We're looking at the Western European decarbonization trend. We're looking at the Western Balkans integration. We're looking still at a big infrastructure drive, and we're looking at the stability in EastMed and the big demand for experts. We have a model that is very well calibrated, well connected to take advantage of these opportunities. We have achieved a new level of profitability, and we believe we can invest and we can deliver further growth. Our investment thesis is based on the three pillars: strengthen our core, mainly vertical integration and new products, go into cementitious, alternative cementitious materials, and invest in adjacent businesses. Just to close, what is our ambition? Our ambition, if we step back, is to look at our business three years down the road and to recognize that this business has been completely transformed. More than 50% of our business, more than 50% of our sales is going to be coming from new products and from new businesses. By doing that, we are going to deliver the growth in revenue and in profitability that we have promised as a group. Thank you very much. I believe I can make now the best part of my speech, which is to announce a break. If I am not mistaken, we all need to be back in 15 minutes. Thank you. Good afternoon. Yiannis ended his presentation with the good news of the break. I've got bad news for you. The next break is not coming up anytime soon. I'm Leonidas Canellopoulos, Chief Innovation and Sustainability Officer, and I'm joined today by Jean-Philippe Bénard, Chief Executive of Cementitious Business and Energy. In this session, we'll be walking you through how Titan is transforming decarbonization into profitable and scalable growth with a sharp focus on, you guessed it, alternative cementitious materials, or ACMs, and a powerful innovation engine. Let's begin with some context, linking it back to the mega trends that Marcel introduced earlier in the day. On the one hand, we have the increasing need for climate adaptation solutions, and on the other, more stringent regulation on emissions, all of which is driving demand for alternative materials and new products. At the same time, urbanization, aging infrastructure, and housing shortages are pushing us to develop novel solutions for construction and renovation. Of course, we have the digital economy with automation and AI compressing cycle times all the way from design to delivery and installation. Against this backdrop, our strategy doubles down on two force multipliers: ACMs, a new business line that we expect to drive a 10% revenue growth by 2029, and investment in strategic innovation, over EUR 100 million invested not just in experiments, but on industrial pilots and scale-ups targeted on customer outcomes and margin uplift. Critically, decarbonization for us is not a cost headwind. It is a profit lever. We expect to deliver EUR 120 million in annual recurring savings by 2029 from cleaner energy, process optimization, and material substitution. This is how we lower our cost base, reduce our risk, and expand our offering of premium products. We have already delivered. We've delivered a 24% reduction in our CO2 emissions, consistent with our science-based pathway and with our ambition to keep global warming to a maximum of 1.5 degrees Celsius. This is how we have secured our position among the leaders of Europe in climate mitigation, according to the Financial Times, and how we got a position in the list of the world's most sustainable companies by Time Magazine. If we continue along this pathway, we expect by the end of this decade to have reduced our emissions at a rate that is six times faster than the one we had in the previous three decades from 1990 to 2020. To institutionalize this progress, we are executing a EUR 200 million investment program with over 100 initiatives across geographies, across the value chain, each selected for return on investment, scalability, and resilience through the cycle, with initiatives that include energy decarbonization through renewable electricity and alternative fuels, where we're targeting over 50% substitution and over 80% in some of our core plants, with a multitude of actions to improve operational efficiency through digital tools, through waste heat recovery, through the introduction of hydrogen as a catalyst in our process, enabling us to further increase the amount of alternative fuels that we can absorb. Of course, through the introduction of ACMs, with which we expect by 2029 to have over 50% of our sales meeting the advanced criteria for performance and sustainability of our Titan Edge family of products. The economic logic here is compelling. We're talking about a cost-effective energy and raw materials mix, reduced reliance on CO2 allowances, increased production capacity through ACMs with minimal or no CapEx, and an ability to serve sustainability-minded customers more effectively and capture the green premium wherever it exists. Our current trajectory means that we're on track to deliver another EUR 85 million of savings per year on top of the EUR 35 million already delivered, bringing the total to EUR 120 million in annual recurring savings. Most importantly, we're not just cutting emissions per ton. We are reducing our CO2 per unit of revenue, meaning that we are de-risking our P&L against energy and carbon volatility while strengthening our margins. Now, let us connect the dots to net zero concrete. Our hybrid approach means that we prioritize the use and sale of ACMs to minimize the ultimate investment that will be needed in carbon capture. In practice, this means that while the industry as a whole expects over a third of the emissions reduction here in blue and up to half in Europe to come from the capital-intensive solution of carbon capture, we only depend on it for a fifth of our emissions. ACMs are our first priority for speed to impact and lower cost, with targeted carbon capture only where it makes commercial and financial and technical sense. Now, this is how we hit our climate goals while preserving capital efficiency. I will hand it over to Jean-Philippe to give you an overview of how ACMs have an important role to play in construction and how Titan is very well capitalized, very well placed to capitalize on this opportunity. Thank you, Leonidas. Good afternoon, everyone. So what about SEM? I must confess that now, since the beginning of this afternoon, you know everything about SEM, thanks to my colleagues, and you are really an expert on this field. What's important to have in mind, nevertheless, is we are facing a sort of revolution for our industry. As a French, we know a little bit about what is a revolution, as you know. For this, I should remind that the ACM is not new things. It has been used in this industry for decades. Especially, it was materials that were coming from EV industry, like coal, power plant, or steel industry. Now we are entering in a new era where really this revolution will happen thanks to the CO2 target we all have in this industry to decrease our footprint in CO2. Also, because the customers are really asking for a new product with less CO2 in it, leading to this, there will be an increase of demand in the SEM. You will see that in the next slide. You will tell me, "Okay, this is great, but in your territories, like in the US or in Europe, the traditional SEM, the slag or the fly ash, are disappearing because we are closing a coal power plant." Also, the steel industry in this area is not going very, very well. This is what I call the ACM availability paradox. Us, within Titan, we have prepared this revolution for at least three or four years, and you will see that we have already taken some position to face this shortage and, more than that, to supply new markets with this product. That is why we have decided within the group to have a new dedicated business line. When I say it is a revolution, it is because until now, we were really dealing with cement, aggregate, concrete, but what you have seen in the presentation this morning from my colleague, there will be a fourth one that we will follow, which is exactly this one. What are the ambitions in terms of ACM, some numbers? We really think that by 2029, we will be able to achieve 10% of group revenue. That will be more or less EUR 300 million or EUR 300 million plus per year. For that, the group has already decided to invest and invest a lot. You will see some examples in terms of CapEx allocation. As Yannis said previously, we will leverage our infrastructure. You will see also a good example about what has been done by Bill and the team in the US with the idea that it is really clear. We want to increase the quantity of SEM in the concrete usage, and also we want to have new added value cement, including SEMs, that will allow us to decrease our CO2 footprint. Is this only, let's say, is this only a dream or some figures we have in mind like that? In fact, we have already prepared the ground for this revolution, and we have some good success to share with you. First is being about the reserve. We will not be credible actors. We will not be among the winners of this revolution if we are not able to secure reserve. We have already almost 150 million tons of reserve secured here in Europe and also in the US, as Bill explained for the clay material. We have this partnership in Greece with GenPerlite and also our own reserve in Turkey for 40 million tons. This is good, but this is not enough. If we want to make sure that we will make the difference in this market, we need to have the infrastructure to deliver to our customers. We used to say that for SEM, we are a sort of global company, so global in terms of sourcing and in terms of infrastructure, but also local because, as you can imagine, we need to go to each and every market. Yanni was talking about the terminals we have in Western Europe. We have the import terminals in the US also. These are the second type of projects we have already put in place. A few years back, Titan America decided to expand its capacity, for example, in Tampa. That has released some capacity to import some SEM. We have started with fly ash, and there will be much more to come in the next months through this channel. The second thing that is very important for us is that we are the owner of a technology to reclaim fly ash. As I said, some power plants, all the power plants almost in Western Europe are closing. Some of the fly ash in the past were directly used in the cement industry, but a big part of these materials were landfilled. Thanks to STT technology, and you will see in the booth an example of that, we have a solution to propose to the community and the customer to reclaim this ash. I will not go into the detail. I think Tom Cerullo will do in a few minutes, but the idea is somewhere to purify a little bit the fly ash so that they are qualified to go to the concrete and the cement market. As Marcel explained a few minutes ago, we have signed recently a contract with a partner in the U.K. so that we will be able to deliver 300,000 tons per year of fly ash in the Manchester area. This will represent almost 6 million tons of fly ash that will be recycled. It is really impressive, and it is really good for the CO2 roadmap. Last but not least, in terms of R&D, we are also trying to prepare the future to increase even more the quantity of cement issues that we can have in cement. We have signed a few months ago a partnership with a startup that has already a very good track record in this field. The idea is to go from something like 35% of ACM in the cement up to 70%. Of course, it's not for tomorrow, but we have a good hope that this will happen by the end of the period. These projects are only examples. We have much more in the pipe. We were mentioning this exclusivity negotiation we have for a terminal in Northern Europe. You have probably seen in some communication a few months ago that we are also entering the Indian market because this market is still producing what we call fresh fly ash, and there is an interest to have, let's say, secured this volume for the future need in our territories like in Europe. This was, in a nutshell, briefly, how we think we could be among the winners of this revolution and also why we think it made a lot of sense to have this new business line. I will now hand over to Leonidas, and I'm sure you will also talk about cement issues. Thank you. I will try not to overdo it. Let's talk a little bit about our innovation agenda, which is all about customer outcomes: more resilient, more circular, more efficient construction. We are investing across these three themes. On the one hand, low carbon binders and nature-based solutions that are especially important in areas which are most vulnerable to the effects of climate change. We have circularity in the built environment with alternative raw materials, alternative fuels, recycling, and of course, landfill reclamation with our proprietary technology, essentially turning what used to be waste into value. We have enhanced productivity in construction. We have the use of AI all the way in the value chain, starting from our own operations all the way up to concrete mix design. We have modular construction methods, which are now reducing time, cost, and risk. The common thread is high performance, fewer emissions, less waste, and better economics for our customers. We turned the megatrends into launch-ready products with a pipeline that focuses on four priority verticals: data centers, industrial buildings, coastal restoration, and modular construction, all high-growth segments where sustainability and productivity matter most. On the left, you see our near-term launches: seamless floors, recycled materials, 3D-printed reef modules, and next-gen ACMs all the way up to 2029. Beyond that, we are advancing new technologies that will redefine construction and resilience. Each bubble represents a platform-level idea scaled for impact. The pipeline is backed by a robust innovation engine with over 100 projects and 60 scientists on both sides of the Atlantic with advanced capabilities in chemistry, in ACM activation, in data science, and material science. We are doing all that in our four innovation hubs: our Titan Global R&D Center here near Athens and Kamari, our Titan America Innovation Hub in Miami, the Center for Advanced Technologies, which we are developing now in Patras, and of course, our state-of-the-art Separation Technologies Engineering Center in Needham, close to Boston. In these places, we partner with customers, with startups, and academia, and we turn ideas from the lab into industrial pilots and from pilots into scalable businesses. Our internal innovation culture is vibrant and pervasive, with over 350 ideas submitted in our latest Titan Ideation Challenge by over 300 people and with 10% of our workforce involved in the process. We are backing our convictions with capital, with EUR 100 million to pilot and scale new technologies, leveraging our corporate venture capital arm, Titan Ventures. We have already invested in six startups and in two funds, and we have partnered with many companies in different stages of maturity. We are tapping into technologies all the way from AI and coastal resilience to recycling of construction demolition waste with Everox to carbon upcycling, which has a proprietary process for ACM activation and the utilization of CO2, all the way up until energy storage with Rondo, which has just installed the world's largest heat battery ever put into commercial operation. This is about speed, and it's about optionality. We play smart bets, validate quickly, and scale winners into premium low-carbon revenue pools. Now, we would like you to leave this session with three takeaways: 10% revenue boost from ACMs, decarbonization that is profitable, and EUR 100 million invested in innovation. At Titan, we're not waiting for the future of construction. We're building it together with our partners. After a short video now, Samir and Antonis will come on stage to tell you more about the digital innovations we're pioneering and the new technologies across the value chain. Thank you. Hello to all, also from us, myself, Antonis, and my colleague Samir, who will talk to you about advanced technology and digital. Now, I know that in many corporate events recently in the US and in Europe, there have been humanoid robots dancing on stage. Now, I don't know if me and Samir can pass for humanoid robots, but not me. I can reassure you there will not be dancing on that stage. In any case, I hope that you are ready for the next few minutes for a technological boost so that you can see how advanced technology and artificial intelligence can shape the future operating model of Titan for a more efficient and more agile company, and how advanced technology can generate shareholder value not only in Silicon Valley, but also in the world of building materials. Now, Titan has been an innovator and a technology adopter for decades. With this foundation of innovation and technical depth, we have developed a strategy of leveraging advanced technologies with two main pillars. One is to deliver $100 million of operational efficiencies by the adoption of advanced manufacturing technology and from digitalization of our operations. Two, we will shape the operating model of the future and the customer services through new materials, through carbon capture and green products, and through the adoption of even more cutting-edge technologies such as generative AI, physical AI, and robotics. To explain how we will use advanced manufacturing techniques to drive higher performance, I hand over to Samir. Thank you, Antonis. I think a few years ago, I met a senior technologist, actually a Japanese who used to work for Toyota in Tokyo. He said something which has stuck with me for so many years. It was quite simple, but quite profound. He said, "Look, all technology transformations begin with a very simple, but a very demanding question. The question is, how can we improve the lives of our customers? Either make them more sustainable, make them more profitable, make them smarter, but either way, that's where it starts. Not it starts at the technology. Now, that question is at the heart of our technological transformation. And actually, a question not only asked by the team in this room, but the question which is asked by all our people every day: what is it that we can do which will bring value to our customers? Now, we heard a lot of things about acceleration. Technology is accelerating. Our ambitions are accelerating. Now is the time for us to actually transform that question into real actions. This is what our whole footprint of our plants, but more than that, I would say the actions which we have put into place are going to bring. Now, of course, we start with a very strong foundation. We have been quite successful. Albania, 99% reliability. That's world-class. We have the largest plant in Greece, 85% alternate fuel. Whoa, that's something. We have something to build upon. Of course, just producing more, even if it's producing more efficiently, is not enough. What is the next step? The next step is producing optionalities and possibilities for our customers and for ourselves. This is what we plan to do, what Antonis said. How do we marry operational excellence with innovation, mature technologies with emerging technologies? Most importantly, I would say, people with the machines they operate, because that's where the crux of it lies. Now, let's go to the heart of operational efficiency in our sector, which is energy. I don't know how many of you might be aware of this fact, which is quite striking. I mean, for me, maybe I'm quite aware, but that actually 40%-50% of the heat in cement is dissipated into atmosphere. Can you believe? That's the fact. And that's what we want to tap into. As somebody said, the best energy we have is green, renewable, and free. This is what waste heat recovery is all about. Five installations. Yes, there is a CapEx, but big returns. Of course, we don't stop there. We talked about the journey of alternate fuels, which is substituting fossil fuels with something which is a byproduct of other industries. We are at 25%. We want to accelerate it to 50% the next five years. Why we say that? Because the technology has evolved. We have hydrogen. We have now a new generation of dryers. We have actually high computation models using actually quantum computing for us to be able to model and increase. That is what this is all about. I just do not want you to think this is only about cost reduction. This is circularity. This is circularity in motion. Because not only do we solve the problems of our cost, but also we are solving a problem of the communities and the societies around us. Now, if cost was the heart of our efficiency, especially the energy cost, the materials are, I would say, the heart of our innovation. I would even go further and say that the new core competency which material industry has to develop is to master these new materials. Now we, of course, we are not only investing, but we are also partnering. We talked about our Calcine Clay project in the US. I love this project. 30% reduction in cost, more capacity, 80% reduction in CO2 at a CapEx cost which is lower than putting a new plant. What more can you want? What more can we want? Of course, we have to make it into a reality, which is where technology comes in. At the same time, parallelly, we are also adapting and we are working with a number of partners on new technologies to, when we call activation, actually is quite simple. Activation is awakening a material so that it can perform like a cement. Very simple. With that, what we can do is use materials which were unusable before. We reduce cost. This is a trifurcation of, I call it something quite beautiful, actually. You are working on sustainability. We reduce cost. We give to the customers what they want because our customers are requiring high-performance material. This is what is smarter materials for a smarter world. In terms of technology, our boldest leap as yet is, of course, IPHESTOS. IPHESTOS is our carbon capture and storage project, as you are aware. It is the largest carbon capture project in cement in Europe. Two million tons, almost two, 1.9. We will produce more. Maybe it will be two. Two million tons of CO2 being captured and stored. This you are aware, funded EUR 234 million by the EU Innovation Fund. Where are we? I think, look, in a nutshell, we are on track. A, the engineering studies are progressing. We have been engaging with regulatory authorities, with the storage companies. There are a number of things to be settled, but we are on track on that. The large amount of CapEx on this project will come towards the later half of this decade. What that means is we are not only funding our future and we are creating our future, but we are engineering it with care. Because it's a complex project. I must say, it's not a slide. It's not a slide deck and something to talk about. It's something which we, as engineers and as a company, take it seriously. Hence, we are putting in all to make it a success. We are, of course, very proud of it. Now, I should talk about something which actually fully excites me personally, and it excites a lot of our employees, for sure, and is inspirational, if I may use the word. What is that? We talked about new generation materials, yes, we should develop, et cetera. We said, how should we do? I mean, how do we get all these ideas in our mind into something concrete which we can touch, which we can feel? Therein started this whole idea of creating this advanced center for the Center for Advanced Technologies at Patras. Now, what is that exactly? This is a place where we are going to, of course, incubate. We are going to prototype, going to test, but we are going to scale different technologies with different time horizons and then deploy them in the group. It is only apt it happens at Patras, which is quite close to where actually the old ancient cement started to be used by Romans, of course, also Greek. We are quite proud of it. It is almost, for me, almost poetic that the future materials will be developed at a place which is quite close to the history of making cement. For sure, we put Patras and Greece on the map of the materials. Of course, we are looking forward to it quite excitedly. With that, now I will hand over to Antonis, who will excite us more. I did not talk about AI, and that was a promise to me. I will not mention AI, but Antonis is going to, and let's listen to him. Certainly, I will mention AI. In digital, Titan is often mentioned as a digital innovator and an early adopter of AI technologies for several years now. I believe part of our success is that we look at AI not just as an opportunity to capture some incremental cost savings, but we look at it much more systematically as an opportunity to scale up fast new technologies across all our domains. As an evidence of that, we currently have more than 300 people that we call champions. These include experts like data scientists and data engineers, but also frontline people, engineers in the cement plants, in our logistics hubs, in our back offices who use AI tools every day. We have currently deployed digital technologies in more than 80% of our manufacturing assets, which are giving us more than $30 million in annual benefit, recurring annual benefit, and payback of less than a year. This has positioned us at the top 5% of industrial companies globally from any sector. We have received external recognition from the likes of Harvard Business Review. Building on this foundation, our digital strategy is to digitize our company further, end to end, across all domains, and to build capabilities to serve our customers better, to upskill our people, to unleash their productivity, and to develop opportunities for new revenue sources, capitalize high-growth revenue sources by offering digital services. All of that is catalyzed by a data foundation, fully cloud-based, fully secure, and flexible to scale up. This is not just a strategy. It is not just a set of ambitions. We have some unique achievements that can make this real. Let me highlight some of our signature solutions. I think they were mentioned also in the video. Just very briefly, in the manufacturing space, we are building the smart cement plant of the future to complement the innovations that Samir said. Our flagship solution, the real-time optimizers, currently rolled out to 80% of our assets, with Titan being the heaviest user of real-time optimizers globally, delivering more than $10 million of recurring benefit every year. Likewise, our predictive maintenance solution fully rolled out in all our cement plants already three years ago, combining machine learning algorithms with the expertise of our domain experts, engineers who guide our frontline people on how to prevent breakdowns. Currently, this solution is providing more than $15 million of annual benefit to Titan. I think more impressively, we have actually prevented more than 33,000 hours of downtime in our cement plants. This is the equivalent of a cement plant running continuously for 45 months. In Readymix, we are investing now to roll out across our footprint a solution that is already live across Titan America, a dynamic logistics solution that optimizes the scheduling, dispatching, routing of our concrete deliveries, increasing the productivity of our fleet by over 10% and improving customer experience because all our deliveries now can be guaranteed to be on time. As we now strive to provide a seamless experience to all our customers, I am proud to say that today, Titan has an active digital channel in all its business units around the world, with very high customer satisfaction wherever this has scaled up, and already reducing also our operational cost, for example, by reducing the volume of incoming calls to our contact centers. This is developing into a new operating model. Of course, you would not expect Titan to stay still. Now we are actually investing heavily in the next frontier of artificial intelligence, generative AI. Titan was one of the first 600 companies in the world, among all sectors, to be the early adopter of the Copilot generative AI solution, currently used daily by more than 20% of our white-collar staff. We have generative AI solutions for our analytics and reporting. Of course, you would not expect our developers and data scientists not to use coding assistants. There is a lot more to do. Currently, we want to aspire to become the first truly agentic enterprise in the world of building materials. Let me just highlight we are building currently four autonomous agents for customer care, for our production and maintenance people, and for our back office processes. In some cases, already targeting 90% reduction in the handling time of some of our enterprise workflows. One word here about our digital business, SEM AI. You may have heard about it. You can go now on your tablets and type semai.com, and you will see a company offering digital services, predictive maintenance solutions, and real-time optimizers to the cement world. We launched SEM AI three years ago because we realized that there is an addressable market of several hundred million for digital services in our sector. Already, SEM AI is serving customers in four continents with two dedicated service centers in the Americas and in Europe. We aspire to be a top three service provider of digital businesses to cement companies and to be the first company by the cement sector for the cement sector, which we believe is a truly differentiating value proposition. I will not say a lot about digital innovation. I think Leonidas mentioned quite a bit about our product innovation, but let me highlight a couple of things. Last year, some of you may have noticed that we launched a so-called digital accelerator in Thessaloniki. This is another effort to systematize the way we do digital innovation by prototyping solutions, developing proof of concepts, and then scaling up fast. Currently, our accelerator is developing robotic solutions. I think you will see our robot already probably roaming around in the hallway. It's called Axel, by the way. You can address him after the presentations. We're also developing Gen AI solutions. The last announcement we did a couple of weeks ago is a collaboration with the Citrus Institute of the University of California, Berkeley, aiming to develop the most sophisticated digital twin model of a cement plant in the world. Building on all of this foundation of digital use cases and our ambitious strategy, we aim to become a fully digital, fully flexible, industry-leading company in the next five years. This will make us achieve significant efficiencies, increasing our EBITDA margin by over 100 basis points, make for a superior customer experience, stickier customer experience by having more than 80% of our orders going through digital channels, upskill 100% of our people. I do not know if you have heard of any other building materials company aiming to upskill 100% of its staff on digital dexterity with innovative programs like our Digital Academy now running for six years in our own Greece. As we said before, aiming to launch at least two generative AI use cases every year for the next five years. This, we are confident, will develop a superior business case to our shareholders, generating EUR 5 for every euro we invest in our skills, in our systems, and in our infrastructure. With that, thank you very much. Handing over to Samir. Yeah, look, I think it's just to say, what does it all mean? I mean, we are talking of a lot of initiatives. Actually, they are quite simple. There are three. We talk of technology, we talk of operational excellence, get EUR 100 million in the bank, and get future ready. Antonis talked about fully digital enterprise. Surely the first one in the material industry, not only cement, five times ROI. Actually, vibe coding, shiny machineries are not perhaps sufficient. What's missing? For me personally, and for us as Titan, it is the people who combine progress with purpose that will make this happen. It is the same people, actually, if you remember, who asked that question at the beginning of this presentation. Why are we all doing this? We are doing it because we create value. This is what binds all these initiatives into one story. That story is what takes Titan into the future. We are quite excited to be a part of that journey. I hope you will all be, and we will be seeing some great stuff happening in the future. Sorry we took more time, but we are all very passionate about what we do. I hope you enjoyed what we said. Thank you so much. I would like to invite some people who are going to talk numbers now. We'll have John and Michalis coming up on stage too, and they will talk of numbers what you like. Thank you so much. Good afternoon from me as well. I am going to present to you the highlights of the numbers over the past three years, trying to highlight how we have achieved our main financial targets, starting with sales as the first, which we're still not at the $3 billion mark. We are at $2.8 billion if we take into account the sale of Ado Chim. We do have the target to reach the $3 billion next year through both organic as well as inorganic growth. The $3 billion mark is not achieved yet, but very well on track with 7% average growth rate. Turning to EBITDA, we started from a low base in 2022, which in fact was much higher than the previous three years. Still, we set a target that we would grow by 10% average every year. We overachieved the target. We grew by 23% every year, reaching 617 over the past 12 months, which is almost double of the performance of 2022. Now, where did this take place? Was it one region or the other? In fact, all regions have grown in sales. East Med is lower because Turkey is now out of it. In terms of profitability, all regions grew by average growth rate of 15%. In fact, they all doubled their EBITDA from 2022 to 2025 last 12 months. That was, again, an overachievement of the goals. In terms of the capital returns performance, we started from 7%, which was from 2020 until 2022. We were moving in the 7-8% levels. We set a target of 12%, which was more than 50% above the past performance, thinking that we were already ambitious. We did manage to overperform with 17% in the past three years, around 17%, which translated to earnings per share, again, much higher than historical where we started from and much higher than the target. We had EUR 1.5 earnings per share in 2022. We set a doubling target for 2026 at EUR 3 per share. We are currently running at over EUR 4 per share. As John will tell you later, of course, the future target is going to be much higher. The high profitability, but also our capital reallocation actions, such as the IPO in the US and the sale of Ado Chim in Turkey, have resulted in liquidity for the group and a reduced net debt. Our net debt over the past three years has decreased by $500,000,000 from $800,000,000 down to $300,000,000. The net leverage ratio of even below 0.5, it is 0.45 today. Obviously, this has been recognized by the rating agencies. We had the review from both Fitch and S&P over the last couple of months, who have improved our rating to B+ with positive outlook. We are just a hairline below investment rate. Of course, when we next come to the market, we will be expecting to come with much lower, at much better financial terms and lower coupon. This is not typical of Titan to trumpet our success, but I gave in to the temptation because I believe the numbers are very convincing of what has been achieved. Over the past three years, for every single year, but also cumulative from 2022 up to 2025, up to 2024, the three full years, we have overachieved. We have done better than all our international competitors. In terms of sales growth, with 8%, it's double than anybody else. That includes all the majors, Europeans as well as American. A very similar story with EBITDA, 32% from 2022 to 2024, again, much higher than all our international competitors. I believe this is a statistic which underlines how successful the past plan has been delivered. To close and pass on before I pass on to John is what have we been doing with the capital that has been generated and the cash with $1.1 billion of $1.6 billion of EBITDA coming to net available cash flow $1.1 billion after paying taxes, working capital increase, and so on. In addition to the $1.1 billion of net cash, we raised another $400 million by the disposals. There was $1.6 billion overall to allocate. Close to $700 million has gone into CapEx. We have heard a lot how the capital expenditure of the group in terms of cost efficiencies, energy savings, logistics investments have contributed to the margin improvement. $400 million have gone to the shareholders in terms of normal dividends, an extraordinary dividend, as well as share buybacks. Another $500 million has gone to the reduction of debt. The shareholders, the $381 million that they received, the bulk of it was in 2025. We had promised a 10% annual growth to the shareholders. Obviously, the result was much higher than promised. We closed this year with the EUR 3 per share dividend that was actually the earnings target for the year. Financial performance has been much better than in the previous plan. I will pass the baton to John, who will tell you about our plans, the financial plans for the next three years. You do not have to use a crystal ball. John will tell you what our targets are. Thank you, Michali. I think this performance really deserves a round of applause. Thank you, Michalis. Okay, building on this outstanding performance that Michalis has just presented, we are entering now the next chapter of profitable growth. We are aiming to continue consistently expanding our margins based on this robust financial performance balance sheet that we have and our growth-oriented capital allocation to basically deliver sector top returns and continue to grow shareholder value. We are raising our ambition. We are raising our ambition high. We're targeting a top line growth of 6%-8%, aiming to reach $4 billion by 2029 with a balanced financial algorithm between volume, product mix, and pricing, along with cost initiatives and efficiencies, and also growth from new investments and new businesses. We're targeting an EBITDA growth of 11%-13%, aiming to reach $1 billion of EBITDA by 2029. We're expanding in this way our margins from 23%, which are today, to over 26% in 2029. To deliver this, we need some firepower. Our robust financial performance, more specifically our low leverage that Michalis has just explained, our upgraded credit ratings that Michalis has just explained as well, along with our long-term bond maturities, and our strong cash generation over the next four years, provide the group with significant financial flexibility and firepower to pursue additional growth opportunities. Our firepower can reach $3 billion-$4 billion to be deployed in 2026, 2029. As we allocate these funds, we remain true to our capital allocation principles, which balance discipline and consistent dividend policy, maintain best-in-class assets, and a strong focus on driving growth through investments delivering attractive return on capital employed. We're allocating up to $3 billion of growth investments, organic and inorganic, which focus on sales expansion, operational cost efficiencies, and a disciplined investment activity, aiming to drive to strengthen our core businesses and capture synergies, expand adjacencies with new products and technologies, and also develop alternative cementitious materials as a new platform. We continue to deliver sector top returns as we have strict assessment criteria for each and every investment we evaluate. Despite the enhanced deployment of capital over the strategic horizon, which will inevitably increase the denominator of our return on capital employed ratio, we still aim to deliver 15%-17% top of class return on capital employed, creating in this way long-term value for our shareholders. We target to reach EUR 5-EUR 6 earnings per share, and we continue to return value to our shareholders, and we aim to grow our shareholder returns at double digits. Finally, the pivotal question: why invest in us? What makes our company attractive to investors? What differentiates us from our competitors? Other than our strong financial position and our growth platforms and the fact that we're currently trading below our value, at significantly below our value, even though we're overdelivering, I guess, our peers, as Michalis has explained, what really sets us apart is our purpose-driven leadership, our clear sense of purpose, a strong culture of trust which permeates across the organization, across the globe, and last but not least, the unwavering passion of our people to execute, deliver, and outperform. In summary, as we plan to deploy $3 billion-$4 billion in the next four years, we aim to deliver this set of ambitious targets. They're not easy. They're stretched, but we're ready and we are committed to deliver them. Thank you. Go next. Moving on to the next part. So far, it has been all about us speaking to you. Now we're going to move to the last part, which is going to be some closing remarks and then the part of the Q&A. As a reminder, we're going to go through a Q&A, so we have the gentleman on the stage. If you also want, you can also send your questions through the mobile. We can, yeah, as we're getting ready on the stage, let's just please welcome Marcel for the closing remarks. Yeah, do you probably want to come upstairs, Yanni, and the rest? Yeah, we can already come upstairs. John, yeah. Good. Thank you. Promised you at the beginning that I will leave you with some provoking thoughts. As part of my closing remark, I will come back to our relative benchmarking compared to peers. Michalis has gave the granular view. Here you have a more aggregated view on overperforming peers since 2022 in both sales and EBITDA profitability growth, both the European global peers as well as US peers. Now, if we go back to what I mentioned as takeaway number three from today, it is the reality of the capital markets of trading Titan at a significant discount to its sum of the parts. Again, there is no better moment on looking at sum of the parts than when you have both parts of the business in one way or the other in the market. This year we had the IPO of Titan America. Currently, Titan America is traded at 7.5x multiple of its forward 2025 EBITDA, which for a current market cap of 5.1 times and $3.1 billion, a bit better since the last two days, that leaves for the rest of the group 2.2x its earnings, which is a realization of the market. I hope the equity story we have provided today is showing how much intrinsic value is with Europe, with our regional hub. Now, if we push the rationale to looking at comparables and implied valuation, this is a model that I'm sure most of you are using when looking at businesses like ours. Titan America would deserve 14.5x trading. That's normal to come after one year of IPO as we deliver and overdeliver our quarters, which if we add Titan, excluding America, 7.7x, which is where the global peers are, there is a discounted, there is a gap between the US and the European peers that would bring to $7 billion or 11.7x. No more comments on this other than acknowledging the fact of a relative value showing upside and trading at a significant discount. Now, for the takeaways before we open for some questions, I'm always reminded in my practice of leadership that businesses do not compete. People do. I hope you had today the opportunity of meeting a very powerful team, a team of high achievers. Behind this team, there are many other teams with the same characteristics of making things happen and at the same time transforming the businesses we are in. You have met our key profit and loss leaders. You have met our key transformative leaders, and you will meet more in the booth. The true source of competitive advantage is the people that we have, the capabilities that we have. I think you met all of them and you understood that they are playing to win. I think we all have also demonstrated that we are firing from all the engines, not only outperforming the market and achieving our targets, but whether it is on performance, on strategy executions, and capabilities building, we simultaneously act on all of them. I hope you like that we gave a glimpse into the future. I hope you like the level of ambitions that we are raising as we are increasingly optimistic into the multi-year growth cycle in front of us. I think we have also convinced that Titan, as a group, has unique strengths of giving you, as investors, the best of both worlds: the infrastructure stimulus, as well as the residential fundamental strong in the US, with strong carbon management initiatives in Europe creating new value pools, the integrated supply chain, which brings increased top-of-the-class return on capital employed, and then all our competency centers closer and closer to the market where we can create new value pools, diversify, and continue our profitability, double-digit growth, and top returns. We stay excited about the journey and excited to report to you back more achievements and remain a preferred investment for all of you.