Good morning, everyone, and welcome to this year's AGUA Day, Rotoplas: A Sustainable Growth Story. Please note that today's call will be recorded following the participation of our keynote speaker. Today's discussion contains forward-looking statements. These statements are based on the environment as we currently see it, and as such, there may be certain risks and uncertainties associated with the following statements. The Company has no intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. For 45 years, constant transformation has been at our core. From the first water tank rising on the rooftops of Mexico to lead several markets across the continent, we've set the pace for an entire industry. Our solutions have been part of countless moments of joy and everyday tranquility, always keeping our promise of sustainable growth. Driven by our love for water, we continuously refine our relationship with this essential element, nurturing its care and keeping an eye on the future. Rotoplas is in the heart of countless lives, reflecting our passion for water in every innovation, in every solution. We create integrated value across the water cycle, understanding that our commitment extends far beyond bare profits. As we look forward, we embrace the challenges of the future as opportunities to keep flowing, to keep innovating, and to continue celebrating our role in your life. Today, tomorrow, and for generations to come, at Rotoplas, we are more and better water. It's a privilege to be surrounded by so many humans with such a keen interest in understanding and solving the current water situation. Now, after these valuable insights, I'll leave you with Daniela, my human co-host. Over to you, Daniela. Thank you, Domi. Before introducing today's speakers, we want to know what you think. You'll see a poll on your screen with the question: What do you perceive as the most difficult global water challenge today? A, water scarcity, B, water quality, C, climate change impacts, or D, equitable water access. The poll is now closed. The most popular answer was water scarcity. Now, I'd like to introduce today's speakers. Carlos Rojas is the Chief Executive Officer and Board Member of Grupo Rotoplas. Carlos joined the Company in 2014, and since then, he has held various positions. He was part of the international expansion and responsible for driving the success of the Innovation and Development department. Before being appointed as CEO, he was the Vice President of Services. At Rotoplas, Carlos has driven transformation and innovation from diverse perspectives, as well as the development of projects and the expansion of the Company. Carlos holds an undergraduate degree in Industrial Engineering from the Tecnológico de Monterrey and an MBA from Babson College. Mario Romero is the Chief Financial Officer and Board Member of Grupo Rotoplas. He has long been recognized for his innovative approach and execution throughout his career, having led a wide range of successful projects, including a transformation program, strategy design, and delivery, several cross-border M&A transactions, Rotoplas' initial public offering, and the issuance of the first Latin American Sustainability Bond. He is an advocate for sustainable investments and serves in several advisory councils and boards. Thanks to his passion and drive in ESG, Mario assumed co-responsibility of the group's sustainability area in 2022. He has received multiple awards from Institutional Investor, including Best CFO and Best ESG Metrics. Mario holds a bachelor's degree in economics from ITAM and a graduate certificate in Business Administration from Harvard University. José Luis Mantecón is Rotoplas' Chief Sustainability Officer. He joined the Company in 1993 and held the International Operations Director position for several years, where he was responsible for the Southeast Mexico and Latin American expansion. In addition, as Vice President of Sustainability, he is the co-lead of the execution of the ESG strategy. Before joining Rotoplas, José Luis founded several companies in the construction sector. José Luis holds a Bachelor's in Business Administration from Saint Michael's College in the United States and Postgraduate Executive Degree in Marketing from Anáhuac University. Now, to begin the presentation, I turn it over to Carlos Rojas. Carlos, the floor is yours. Thank you. Good morning, and thank you for joining us today. On this AGUA Day, we gather at a critical moment in the history of our planet, a moment where water trends are redefining business opportunities for companies like Rotoplas. This year, as we celebrate our 45th anniversary, we're more committed than ever to solving water issues. Despite the challenges faced in 2023, Rotoplas' robust business model and agile strategy have enabled us to transform these obstacles into opportunities for evolution and innovation. In a complex global context, especially in water-related issues, our transition from a product-centric enterprise to a comprehensive provider of sustainable solutions marks a significant shift. We now perceive water as a holistic service integral to our mission. Our strategy to reach the 2025 goal is clearly defined. We focus on strategic levers that include innovation in products and services, greater penetration in key markets, and the strengthening of our operations. The next steps involve the implementation of advanced technologies and the optimization of our processes to ensure sustainable and profitable growth. Always keeping an eye on the changing needs of our customers and emerging market opportunities. Before delving into our four strategic priorities, and as we celebrate our 45th anniversary, I'm very proud to share that Rotoplas has been honored as a Famous Brand by the Mexican Institute of Industrial Property (IMPI). A distinction awarded to fewer than 200 companies in the country for their reputation and prestige among consumers. This recognition reflects a strong position in the market and reinforces the commercial value of our brand. It's a clear indicator of the trust and credibility that consumers, distributors, and employees have in us. This morning, we will examine in detail two of our four strategic priorities, starting with the sustainable growth of our traditional business, followed by the development of new businesses. Later in the session, I will cover the two additional priorities: digitalization of the water ecosystem and our commitment to all stakeholders. Beginning with the sustainable growth of our traditional business, this year, we have taken significant steps in this regard, particularly through innovative projects such as SMART, which represents the start of the evolution of our legacy products with the Tinaco Plus. We have implemented the new blow molding manufacturing technology in five of our eight storage solutions manufacturing plants in Mexico, and we're just two weeks away from having it in another plant, aiming to complete implementation in all Mexican plants by 2024. This blow molding technology has not only increased efficiency in manufacturing and transportation, but also improved the product's perception among our customers, who now see the Tinaco Plus as a more resistant, reliable, and innovative product. Moreover, the SMART project has had a significant impact on occupational health, improving working conditions and allowing us to increase the number of women involved in the manufacturing process. We have also achieved other efficiencies through a shift from gas to electricity and an optimization in the use of resins, resulting in a more sustainable and efficient product. Compared to Tinaco Plus with a traditional tinaco, we see notable advances. The Tinaco Plus produces approximately 40% less CO2 emissions than the traditional model. Additionally, the Tinaco Plus uses minimal water for cooling compared to the 24 liters of the previous model. This, along with the incorporation of 40% recycled materials, compared to 17% of the traditional model, and a reduced manufacturing time of seven minutes compared to 25 minutes, demonstrates our progress in efficiency and sustainability. As we approach the project's completion, we have already allocated 70% of the total MXN 620 million investment, and we are on track for an IRR of slightly above 20%, reflecting our practical and strategic investment approach. It is also important to highlight the enhancements that directly benefit the customer experience. The new Tinaco Plus features a new screw-on lid that prevents the entry of pollutants, ensuring clean water storage. It also has vertical support for increased stability and strength, along with lifting lugs for better handling during installation. These tanks also have an antibacterial layer with Expell Technology that inhibits bacterial growth, contributing to safer water storage. These customer-centric improvements are not just about offering a superior product, they are strategic moves to solidify Rotoplas's market position. By differentiating ourselves in a highly competitive market with a cost-effective design of the new Tinaco Plus, we maintain our category leadership and incur the competitors' growth. Our commitment to innovation is reflected in meeting the current needs and addressing the pain points of our users. These advances not only represent a step forward in terms of innovation and sustainability, but also reflect our dedication to improving the customer experience and strengthening our position in the market. By focusing on efficiency in our traditional business, we are layering the foundation for continuous and responsible growth, aligning our operations with the needs of an increasingly environmentally conscious world. Fueled by a commitment to strategic growth, we remain steadfast in refining our operational strategies and enhancing our core competencies. This vision is not merely a roadmap. It serves as our guiding star, influencing our cost management, pricing strategies, and now also including our M&A activities. Mario will later provide further detail on this aspect. Our second strategic priority is centered on the growth and the development of new businesses. We are targeting a yet-to-be fully developed market, rich with unmet needs and significant growth potential. With promises, which promises a steady stream of revenue. In this endeavor, we are expanding our footprint and diversifying our solutions portfolio, carefully balancing the opportunities and challenges that come with such expansions. A strategic priority, we continue to invest in research and development in this business unit to consistently deliver top-notch solutions. Our expansion efforts and initiatives to enhance brand awareness are crucial elements of our strategy. I would like to mention that the negative EBITDA experienced by this service businesses as a group in recent years, despite the profitability of some, can be considered comparable to an investment in research and development. This investment is anticipated not only to drive the future profitability, but also to support the development of a completely new go-to-market strategy and initial market penetration efforts, both of which are fundamental to our long-term vision. Our strategy is manifested in the development of several high points for potential new businesses. Starting with bebbia, I wanna take this opportunity at this event, in light of the historic milestone where bebbia reached 100,000 units, to introduce you to the latest innovation of our B2B purifiers. This new touchless purifier and dispenser features infrared sensors for water dispensing to ensure greater hygiene when drinking water. Reverse osmosis and ultrafiltration technology, a modern and compact design that optimizes space, and a large cavity for all types of glasses and jars. It also includes a digital display with temperature control and a child safety lock. Our efforts are dedicated to transforming how water is consumed, moving away from the unsustainable practice of bottled water. This year, we have placed a strong emphasis on automating customer interactions, encompassing everything from contract initiation and scheduling, installation, and maintenance appointments, to managing user profiles and payment methods. As highlighted during our previous AGUA Day, our drinking water service has the potential to reach 3 million households or B2C clients, and nearly 1 million institutional or B2B clients, with a potential annual recurring revenue of $500 million. In 2024, we will implement key initiatives to expand and strengthen this service, complement and renew the portfolio of institutional and residential filters, and train technicians and plumbers on customer and user interactions to continue improving their experience with bebbia. Other important initiatives for this business is the implementation of the Programmatic M&A strategy. Now, moving into Rotoplas Water Services, our water treatment and recycling business in Mexico has a market opportunity of approximately $1 billion. We will need the implementation of important initiatives in the coming years, such as continuing to generate bookings with focus on water-intensive industries. Additionally, we will persist in exploring innovative technology and IoT solutions to offer a holistic approach to our customers. About rieggo. We are leveraging the latest technological advancements to promote more efficient water use in agriculture. Rieggo represents a market opportunity of about $350 million. Our 2024 strategy includes expanding our footprints in high-yield agriculture, particularly in berry cultivation. The strategic acquisition of Hi-Tech irrigation assets, an expert in irrigation systems with three decades of experience, a key lever for growth. This move enhances rieggo's capability in delivering advanced automated irrigation solutions. Next, focusing on Acuantia Brazil. Acuantia Brazil specializes in water treatment and recycling plants in the largest domestic market in Latin America. This area represents a market opportunity of approximately $800 million. Over the next 12 months, we will continue to develop a detailed process to track leads and capture sales, and expand our capabilities and generate bookings in this market, with a particular focus on water-intensive industries. Lastly, regarding Acuantia U.S.. In the United States, our subsidiary, Acuantia U.S., focuses on the septic business, representing one of the largest opportunities, with a served available market of around $1.35 billion. In the coming year, we will focus on building capabilities and generating research, with special attention to adapting our offerings to the specific needs of the U.S. market while strengthening our position. Our main initiatives will include, firstly, launching advanced septic solutions, and secondly, enhancing our customer service by implementing a more efficient Design/Build delivery model aimed to providing faster, more predictable results for our clients. Regarding our e-commerce business, it is advancing its water storage solutions with smart technology integration and light assembly capabilities. We are adopting a unique rental lease model for temporary storage needs and intensifying our focus on large enterprise customers through personalized service and an omni-channel, omni-channel experience. Now, I will pass the presentation to Mario. Thanks again for your time. Oh, thank you, Charly, and, good morning, everyone. I'm very glad you are joining us today. Let's begin by discussing our strategy and progress in 2023. Then we'll review our expectations for the remaining two years of our five-year plan, and we'll conclude with some insights about our stock, AGUA. 2023 has been a year of strategic recalibration for us. Despite experiencing slower growth, we've achieved significant improvements in profitability. This year, we've navigated through several challenges, some of which we are beyond our direct control. These include fluctuating exchange rates, specific climate events, and some political and macroeconomic factors. The Mexican peso, for instance, revalued by 11%, impacting the consolidated sales of our subsidiaries outside Mexico. In the U.S., higher rainfall levels prevented severe droughts in key states where we have a strong market presence. In Peru, El Niño pattern resulted in a warm winter, which in turn affected our water heater sales. In response to these challenges, we've concentrated on three key areas. One, Operational Excellence and Profitability. Despite a drop in sales, our nine months EBIT increased by 7% through effective pricing strategies, which have been adjusted to account for inflation, raw material costs, competition, and profitability goals. It is also important to note that this year, we no longer recognize expenses related to the Flow transformation program, as this way of working has been fully adopted and integrated into our daily operations. Brand Leadership, as the second one, we continue to lead in market share and product sales across the countries where we operate. And the third one, Expansion of New businesses. Our services sector has seen a more than 40% increase in revenues this year, gaining traction and scale. Throughout this year, we have successfully improved our Return on Invested Capital, maintaining it consistently above the cost of capital. However, our net income has been affected by currency exchange fluctuations, particularly due to the impact of the Mexican peso to U.S. dollar exchange rate valuation. As we approach the close of 2023, we find ourselves moderately behind our planned objectives. However, setting challenges aside, we remain firmly on track to double our sales and achieve an EBITDA margin of 20% or higher. We're committed to maintaining a leverage ratio below 2x net debt to EBITDA and achieving an ROIC close to 20%. To reach these goals, we are targeting a CAGR for the next two years of approximately 16% in products, our value creation portfolio, and 80% in services, our growth portfolio. Regionally, we expect Mexico to grow by 16%, Argentina by 13%, the U.S.A. by 25%, and other regions, including Peru and Central America, by 17%. The pivotal lever for achieving this growth, especially in new businesses, will be Programmatic M&A as an enabler. We anticipate this strategy contributing an additional 4%-5%, 4 percentage points of growth in the coming years. In terms of profitability, we are aiming for a 21% CAGR in product EBITDA and a break-even EBITDA margin in services by 2025. Overall, this equates to a 21% growth in sales and 27% in EBITDA at the group level. During this period, we will keep government sales under 10% of our group-wide revenues. Our projected capital expenditure for maintenance is around 1.5% of revenues, with growth CapEx close to 3%. To achieve these growth rates, we've defined specific lines of action for each country or region. In Mexico, we'll continue with the national rollout of Tinaco Plus, promote our newly launched products, and maintain agile pricing strategies to uphold our brand leadership. In services, our focus is on scaling up bebbia, expanding bookings in RSA, and further developing of rieggo. For Argentina, we'll stick to our golden rules: responsive pricing strategies, sustainable cash flow, avoiding local currency debt, and maintaining market leadership. In the U.S., as Charly highlighted, we are introducing advanced septic solutions, partnering with installers and engineers for predictable project delivery. Our storage business leverages our Omnitouch model, which combines e-commerce, application sales expert team, and 14 strategically placed physical stores. Our stores also serve as hubs for replacing parts and local services. Beyond individual products, we are expanding into light assembly and will introduce smart water solutions with integrated sensors and software. In Peru, we are focusing on maintaining profitability by aligning costs and expenses with demand. In Central America, we'll develop synergies between countries, leveraging our Nicaraguan plant, and continue penetrating the market with recent solution launches. Now, let's dive into the Programmatic M&A strategy piece. Our aim is to cultivate a competence in identifying and integrating acquisition targets, elevating our M&A capabilities to the same level of critical importance and expertise as our sales and marketing functions. To solidify our strategy, we established a dedicated M&A division focused exclusively on streamlining these processes. This division is charged with systematically reviewing acquisition opportunities and actively supporting our business units that earmark potential acquisition as part of their strategic objectives. Our Programmatic M&A focus has been sharply defined by an exhaustive analysis of the water market. Understanding the market size, growth potential, industry trends, and key players have led us to target the United States, Mexico, and Brazil for bolt-on acquisitions. These acquisitions are pivotal in accelerating the growth of our developing businesses, particularly in water purification, irrigation, and water treatment and recycling. Our approach to evaluating potential acquisition, it is both rigorous and strategic. We prioritize three main criteria: strategic fit, financial attractiveness, as well as operational capabilities and synergies. Moreover, our aim is to focus on accretive acquisitions that significantly enhance our value, targeting an internal rate of return of over 18%. This disciplined method ensures alignment with our strategic objectives and augments our growth trajectory. On a monthly basis, our M&A Committee rigorously reviews a pool of investment opportunities. This involves a comprehensive target screening based on key financial and operational metrics, ensuring we thoroughly assess each potential acquisition. A critical component of our M&A process is our focus on Due Diligence and Valuation. This ensures we maintain accurate and strategic negotiation positions. Only after strategic satisfies our financial and operational requirements, do we proceed. Post-acquisition, our focus shifts to realizing synergies and planning the integration process, which is essential for the success of the transaction. Achieving seamless integration requires a collaborative effort. It involves multiple departments, right from the analysis of opportunities, assessing potential synergies, and planning for effective integration. This cross-functional approach ensures a comprehensive evaluation of each potential acquisition. Additionally, we propose a specialized Integration Committee. We recently completed our first acquisition under our Programmatic M&A approach. We've acquired assets from Hi-Tech, including their brand, inventory, and client database. This deal also gives us the opportunity to onboard staff with extensive knowledge of the irrigation market in Mexico, as well as the potential to finalize negotiations that were underway. As we conclude the financial section of the presentation, I'd like to touch on a few points regarding our stock, AGUA. Analyst consensus on the target price suggests that AGUA's stock price has over 50% upside potential. This is a robust indicator of the potential growth and profitability we foresee. Additionally, the consistent payment of dividends over the last eight years, with an average dividend yield of 4.5%, stands as a testament to our financial strength and commitment to shareholder value. In comparing Rotoplas with other significant players in the water sector, our valuation is discounted, despite having experienced higher sales and EBITDA growth over the last five years, as well as a current ROIC that is 1.7x greater than the industry median. By investing in AGUA, stakeholders are not just investing in the Company, but in a sector of growing global importance. AGUA represents a profitable legacy business with a promising growth segment, set to enhance our scale and diversify our company profile in the coming years. I really appreciate your time and attention today. Now, I'll hand over the presentation to José Luis, who will discuss our Sustainability results and aspirations. Thank you very much. Thank you, Mario. Good morning, everyone. We deeply appreciate your time and interest in joining for this session. In our discussion today, I will focus on three key areas. First, I will provide an update on our progress and achievements towards our 2025 ESG targets. Next, I'd like to share with you the evolution of our climate change strategy, an area where we have made significant strides. And finally, I'll go through our approach to sustainability governance, particularly through our Sustainability Committee and various working groups dedicated to this cause. As we discussed last year, our sustainability strategy, strategy revolves around a conscious capitalism approach, where people, profit, and planet are of equal importance. This strategy is designed to create value for all stakeholders. Firstly, on the profit front, we have made significant progress. As of November 2023, we have completed the evaluation of 50% of our critical suppliers. This surpasses our initial target and sets a strong foundation for our upcoming Engagement Program and Pilot Improvement Plan with five critical suppliers in the next year. Our Annual Net Promoter Score, a key indicator of our service level, is showing positive trends towards meeting our goal. We anticipate sharing the final result after the year's end. In terms of our planet objectives, I'm proud to announce that we are on track to meet our emission intensity targets for Scope 1 and 2 per ton of processed resin. Furthermore, our initiatives have significantly contributed to the purification of water, measuring cubic meters through our solutions. Regarding our people pillar, we are in line with our target for providing access to water and sanitation, a critical component of our mission. On the front of gender diversity, while we are slightly behind our target, it is important to note that our efforts this year have been strategically focused. We have conducted a comprehensive assessment to lay the groundwork for welcoming more women into our workforce. This has involved a detailed analysis of our manufacturing sites and plants, evaluating necessary physical space adaptations, revising our benefits packages, and developing robust career plans. These steps are essential in creating an inclusive and supportive environment for a more diverse workforce in the near future. In 2024, we will focus on implementing the Mexican Standard for Labor Equality and Non-Discrimination, meeting the requirements of regulation, and enhancing our diversity and inclusion initiatives across gender, LGBT communities, and disability sectors. Additionally, we will strengthen our analysis of risks and opportunities related to climate change and water security. This quarter, as part of our commitment to the community and our people pillar, we have reactivated the PAZA program, Program for Support in Affected Zones, to assist in the emergency response in Guerrero following Hurricane Otis in October. To date, we have donated MXN 6 million, with plans to contribute an additional MXN 8 million. Our efforts include the distribution of water tanks, cisterns, a water purification system, purifiers, and other essential solutions benefiting approximately 240,000 people. This initiative not only aligns with our core values, but also demonstrates our dedication to making a tangible impact in the lives of those affected by natural disasters. At Grupo Rotoplas, we are not only focused on meeting targets, but on creating a sustainable future for everyone. Also, I'm excited to present our enhanced and dynamic approach to climate change, a journey that began in 2016 with the measurement of our carbon footprint and consistently evolved, culminating in a comprehensive climate change strategy. This year, we have reached a pivotal point in our strategy. After diligently compiling and validating our 2022 greenhouse gas inventory across all three scopes, we have been able to set a definitive baseline year. This groundwork allowed us to propose ambitious, yet achievable targets, which we submitted to the Science-Based Targets Initiative, to which I'm proud to share that our alignment with the SBTi has propelled us to transition from a goal of carbon neutrality to aiming for net zero. To clarify, carbon neutrality refers to the balancing emitted carbon with an equivalent amount of carbon offset, whereas net zero involves reducing emissions to as close to zero as possible, with any remaining emissions being balanced by removing carbon dioxide from the atmosphere. This shift not only heightens Rotoplas' commitment to the environment, but also aligns us more closely to the Paris Agreement and the global efforts needed to mitigate climate change. Our targets are clear. In the short term, by 2030, we aim to reduce our absolute emissions by 42% for Scope 1 and 2, and by 25% for Scope 3. For the long term, by 2050, our ambition is to reduce emissions by 90% across all three scopes. We anticipate SBTi's review in March and expect to have our targets validated by mid-2024. To meet these targets, we have developed a comprehensive roadmap that includes continuous progress in production, logistics, heat recovery, product improvement, supply chain management, and more. For Scope 1, key initiatives include transitioning from roto molding to blow molding, as well as reducing fuel consumption in our operations. This reduction can be achieved, for example, through the implementation of automatic sensors for gas regulation and the evaluation of biofuels use. For Scope 2, we are gradually transitioning to renewable energy sources for our operations in Mexico, alongside implementing energy efficiency measures, like replacing motors with higher efficiency ones, mainly in the pipe business, and optimizing heat utilization in manufacturing processes. In Scope 3, we are engaging with our suppliers to increase the use of recycled resins, encourage materials with lower carbon footprints, optimize distribution routes and fleets, and boost the energy efficiency of our products like purifiers, heaters, and pumps. We remain committed to transparent reporting. Our annual inventory, covering Scopes 1, 2, and 3, along with our progress in reducing emissions, will be diligently reported. This also aligns with our intention to comply with the upcoming IFRS S2 standards. Finally, I wish to address our governance strategies concerning ESG. This year, we introduced the Sustainability Committee 2.0, a revamped effort in orchestrating initiatives across ESG dimensions. Our innovative framework has been restructured to direct our endeavors through multidisciplinary work groups. These groups function independently, led by volunteer leaders, along with a sustainability team co-leader, fostering grassroots involvement and empowering our teams to significantly contribute to our ESG goals. Their quarterly updates are essential in informing the Sustainability Committee, which then escalates the information to the Corporate Practices Committee and ultimately to our Board of Directors. A notable initiative in 2023 is the Put On Sustainable Glasses campaign. This initiative is critical in embedding sustainable practices within our corporate culture, making a meaningful impact on employees at all levels and regions. However, we acknowledge the challenges we face, particularly in standardizing sustainable practices across diverse regions in the coming years. Our current focus is on Argentina and Peru, with plans to expand these practices to the U.S.A. and Brazil in the next phases. In closing, I'd like to reaffirm our commitment to being a best-in-class Company in the ESG space. We are here towards ensuring that our sustainability initiatives continue to gain visibility, traction, and reach. We understand that our journey is ongoing, and we are grateful for your continued support and trust in us. Now, I'll pass the presentation over to Charly for the concluding part of our session. Thank you again for your attention and for joining us today. Thank you, José Luis. Now, after listening to our financial and sustainability results, strategy, and outlook, let me come back to our two other priorities. We're proactively adapting to market changes and global trends, such as digitalization and the evolution of the IoT ecosystem. The digitalization of the water ecosystem and our digital transformation is our third priority. This year, we have significantly advanced in our digital journey through a five-year strategic agreement with Google Cloud, supported by an enhanced partnership with SAP, making a major step in our transformation. The partnership with Google Cloud will guide us in leveraging their experience and capabilities, ensuring a seamless and transparent integration of their services into our operations. Google Cloud offers a broad array of cloud services, including infrastructure, data analytics, predictive and generative AI, and machine learning. These technologies will enhance our efficiency, productivity, and competitiveness. Notably, migrating our data centers to their more efficient cloud infrastructure will reduce our carbon footprint. Google Data Centers are twice as energy efficient as typical one. Simultaneously, SAP, a global leader in enterprise software, will aid in optimizing our processes, improving decision-making, and elevating customer service. Their tools, such as RISE with SAP, are instrumental in the digitalization and optimization of our processes, as both Google Cloud and SAP will be integrated, thereby enhancing data analysis. Specifically, Rotoplas and Google Cloud collaboration is built on six pillars: accelerating our digital transformation, digitizing the customer journey, and optimizing the operations and product development, logistics, sustainability, and intelligence. It focuses on streamlining processes through digitalization. This includes the migration of the ERP system to minimize our environmental impact, leveraging artificial intelligence to enhance the customer experience and create greater value for our stakeholders, empowering our workforce with technology through continuous training and educational programs. Advancing our climate strategy, achieving through more effective data management, the use of advanced technology, technological platforms. Digitalization of IoT are creating new opportunities to improve water management and customer experience. In our water treatment and recycling plants, we have started a project to install a real-time, non-invasive water consumption and wastewater discharge and recycling monitoring system across different plants, providing crucial data for technical report generation, license renewal, and regulatory compliance. Additionally, it seeks to establish a comprehensive database for sustainable water management, enabling the Company to strategize on water footprints, optimize consumption, and generate cost-saving initiatives based on analyzed data. Our reading modules are installed in the flow meter to have real-time information. With this, our clients have access to the monitoring platform, as well as visits for preventive maintenance and error correction. Additionally, from the platform, reports and alerts can be sent directly to the customer. In plants where the readers have been installed, the consumption of fresh water has been reduced by up to 17% below the average, representing significant savings. Finally, our fourth priority is a commitment to all our stakeholders. We will continue to be driven by company's ultimate purpose, providing the best solutions and services to our customers and communities. We will apply the best ESG practices, always keeping our stakeholders' best interests in mind. Our sustainable and agile growth strategy will continue to create value for our shareholders, promoting the well-being of our societies and safeguarding the planet we all share. As we close this AGUA Day, I am deeply inspired by the path we have traveled together and excited about the future that awaits us. At Rotoplas, we're not only responding to global challenges, but we are redefining what it means to be a leading company in water management. With every innovation, each advance in our traditional and new businesses, and every step we take in the digitalization of the water ecosystem, we are contributing to a more sustainable and resilient world. We are transforming the way water is viewed, used, and valued, not just for our current generations, but also for those to come. Our vision, passion, and commitment to all our stakeholders are clear. Together, we're building a lasting legacy, a world where every drop of water counts. Thank you very much for being part of this extraordinary journey at Rotoplas, where every day is an opportunity to innovate, impact, and inspire. Let's move forward with confidence and determination, knowing that the best path is the one we build together towards the future, where all people have more and better water. Thank you very much, and now we can go to the Q&A session. Thank you, Charly. We now have two more polls that will come up on your screen with their respective questions. First off, which side of the Rotoplas story most resonates with you as an investor? A, its growth story, B, its sustainability story, C, its transformation story, D, the price target upside, or E, all of the above. Thank you. We have concluded this poll, and the most popular answer was all of the above. Our next question is: What are you most optimistic about regarding Rotoplas's future? A, its evolution of the product portfolio, B, water-as-a-service platform, C, water digitalization and data-driven solutions, D, hitting ESG targets, or E, all of the above. Thank you. The poll is now closed. Once again, the most popular answer was all of the above. Thank you all for answering and sharing your thoughts with us. We will now conduct a Q&A session. If you would like to ask a question, please press the Q&A button located at the bottom of your computer screen and type your question, as well as your full name and the name of your Company. We will now pause for questions. Our first question comes from André Barredo from Miranda Partners. Can you provide more detail on the Programmatic M&A strategy and how it differs from the previous M&A strategy? Sure, do you want me to take this one, Charly, or you wanna- No, go ahead, Mario. Well, thank you. Thank you for your question, André, and I'm just happy to explain. The first component to explain the difference is scale. The traditional approach we were using was more on large and infrequent deals. As compared, when you refer to our new program, the Programmatic approach, we're gonna be doing smaller and more frequent deals. This Programmatic M&A is more part of a long-term strategy that we're looking to build capabilities or market presence incrementally. The second part is around risk. You know, the traditional approach, which I was referring to, largely frequent, has a higher risk, also higher reward, versus programmatic, which risk is spread over multiple deals. You know, spreading investment in smaller deals can mitigate risk. Failures or underperformance in one acquisition can be offset by success in others. So that's the second component around the difference between one and the other one. The third one is around integration. Traditional one is very extensive, overhaul, while programmatic is like less, less complex and more, selective. And the fourth one will be strategic focus. The other one was like major market impact, but the programmatic is more gradual, building up on capabilities, and so forth. So it's like building a portfolio of complementary business or products. So those are like the key differences, the frequency and scale, the strategic part, the integration part, and the risk part. I don't know. I hope this answers your question. I don't know, Charly, if you want to add anything else around the differences. No, no, no. Thank you. Our second question comes from Miguel Medina. You have a $1.35 total addressable market in the U.S.A. for Acuantia, and is this for the whole U.S.A. or just for the states or countries that you are targeting specifically? Thanks for your question, Miguel, and thanks for joining. Well, the $1.35 billion market is a refreshed and focused look at our served available market for advanced septic solutions and overall water storage solutions. The market that the U.S. offers is tremendously big compared to the rest of the markets we participate in. So we really wanna focus, and this is the way we wanna offer something that's differentiated. Now, this is gonna be a strategy that will allow us to focus how we deploy our commercial resources and how we allocate resources in developing our offering. So this is the look we will have going into 2024, to have higher focus in this very large market. But we will continue to develop our offering and the markets we serve to grow the opportunity. Thank you, Miguel. Thank you, Charly. Our third question comes from Matías Pesqueira, from Miranda Partners. Good morning, and thank you for taking my question. Do you expect dividend payments to continue in coming years? We do. Maybe you wanna share more details, Mario, but it is something that we have been doing for the last eight years or so. It’s something that I think we can continue to offer with the dynamics that we have currently in the Company. It is a practice that at the moment can continue to happen considering the investments we're making and how we're allocating resources in Rotoplas. Hopefully we can expect this in the longer term, but for the foreseeable future, we do think that this can be expected. Mario? Oh, yeah, just to complement, as part of dividend payments is part of our long-term plan. As we mentioned earlier in the presentation, we paid in the last eight years roughly around MXN 8 in cash and in kind, so it's about MXN 1 per year. Obviously, we have had years with MXN 0.50, when the reimbursement has been in shares it has been more. But at the end, it is part of our sustainable growth story to give back to our shareholders part of our results as a form of dividend. So, the short answer is yes. Great. Thanks, guys. Our next question comes from Martin Lara from Miranda Global Research. Thank you for the presentation. I have two questions, actually. Could you please share with us your pricing strategy for 2024, and how do you see the raw material costs coming up in 2024 as well? Well, thank you very much for your question, Martin, and for joining. We do not see raw materials prices coming down next year. That I can tell you. It is, it has been very difficult to be accurate in having foresight for what will happen in the future with tremendous, you know, VUCA environment. So it's difficult to commit to a particular strategy. One of the things that we have developed at Rotoplas is agility, to be able to adapt to events that are beyond our capability to predict. And so we do see prices being more stable in the coming year. But again, we have been surprised by different events, impossible to predict, year after year for the last four years. So... What I can tell you is that we will continue to have a very dynamic and agile approach to facing any unforeseeable events. Mario, anything else that you'd like to add? Well, probably just right now, the curve for energy prices and oil prices seems pretty much the same for 2024 as in for 2023. So we, we expect, you know, sorry, bottlenecks on the supply chains around the globe as are not there anymore. So we expect a very similar year in terms of raw material costs going into 2024. Great, thank you. Our next question is for José Luis from Carmen Barroso at Miranda Partners. With the significant reduction in CO2 emissions and efficient use of water in the new Tinaco Plus, how are you assessing and communicating the positive environmental and social impact to customers? So let me just comment real quickly before passing the word to José Luis. Like I mentioned, we are already five manufacturing plants with this process are eight, the sixth is coming online in just a couple of weeks. And so since it has not been the transition has not been completed in all of our plants, we have been doing very local communication strategies. But we do expect to have a national very strong communication strategy happening during next year. And that would be a great opportunity to communicate this ESG benefits from this new process. José Luis, would you care to comment on, as well as you, Mario, on how we will communicate this to other more specific groups of people that might be interested in this? Sure, Charly. This year, we first worked with manufacturing sites across Mexico to fully assess the positive impacts in terms of emissions and water consumption. Once we had certainty in terms of the data, we started communicating it through workshops with key people in the sales team, where we provided information about the environmental benefits of the Tinaco Plus that can be used during client meetings. We plan to strengthen our communication efforts to our customers next year, as we will undergo the environmental product declaration methodology. We will be able to fully disclose the environmental footprint of this product, and once it is approved, we plan to use that information extensively, both in terms of labeling and in communication materials. Mario, I don't know if you wanna, like to add something else. Well, and to all you guys from our investor community, we are continuously sharing with you how we are performing on our ESG goals. So I would say it's a very holistic and comprehensive approach to communicate all the benefits of what we do to all of our stakeholders. Great. Thank you. Our next question, or actually questions, there's three of them, and we can take them in order, is from Felipe Barragan, from BTG. The first question is: Following the Argentine elections, what can we expect from Rotoplas's operations in Argentina? The second question is: What's the status of the Programmatic M&A? Are you currently in negotiations to close the transactions, or when can we expect to see some of the transactions close? And the third question is: Can you share with us the IRR of the recent Hi-Tech acquisition, assuming it's above 18%? If you need any reminders on these, please do let me know. Thank you. Mario, do you wanna go ahead and comment? Sure. And thank you very much, Felipe, and thanks for joining us this morning. If you don't mind, I would like to first go through the Argentinian question and tie up that one from Sofia Martin from GBM, that she's also joining us this morning, that she has three questions around Argentina. And to be frank with all you guys, today, while I was doing my early running, I was thinking about Argentina and yesterday's devaluation. So I knew that it was coming this morning, so I hope you can understand our position regarding Argentina. Well, first, I think it's fair to say that Rotoplas, it will not be its first rodeo in Argentina. We've been there for more than 20 years, and as you all know, Argentina, it's a country that comes and goes and has this kind of volatility. So overall, through time, we have always aimed to position the Company and to focus on its long-term perspectives, to focus on sustainability, to focus on operational efficiency and financial stability. stability. Let me just give you some data points before jumping into answering your questions. Today, Argentina represents 30% of the total Company revenues, 28% of the EBITDA, and 12% of total assets. And the reason I'm mentioning assets, that's because we're- that is where it takes more time to offset the whole effect of the devaluation. As you can see, revenues and EBITDA are way larger than assets, and that's the strategy behind. We always aim to be a light asset Company in Argentina because we know when this volatility presents, is what it takes longer to come back to its real value. So, in that, I will explain first in terms of balance, it is gonna be a neutral effect because we have as many assets and liabilities that offset at the end, and we don't have any local debt. So with that in mind, you know, on the balance sheet, we'll be reflecting a one-time effect shortly in December, and that will be offsetted pretty much quite fast. In terms of revenue and EBITDA, as always in Argentina, it will be a price adjustment. Today, this morning, we received a very comprehensive list from our team in Argentina, what were all the different decisions being taken to offset this devaluation of yesterday's. So, we anticipate that we will feel comfortable to navigate the situation in Argentina in the short term. And for the long term, we feel more constructive with this new government coming in. We feel confident with our long-term strategy, and as mentioned, we will still be focusing on sustainability, operational efficiency, and financial strength. So all in all, it's gonna be a short-term effect, and we'll come out very well-positioned. Obviously, some opportunities will be presented. I would say mainly, probably competitors are not as well-positioned as we are, so we'll be accepting those and taking advantage of probably gaining market share on a more efficient way. So that's about Argentina in the short term, and in the long term, to connect with Sofia's question to 2025, you know, the- I don't... we don't see that the 2025 guidance will be affected because Argentina, given what I just explained about how fast revenues and EBITDA adjust through inflation. So that's pretty much the answer around Argentina. And then going back to Felipe's questions around Programmatic M&A. We do have a very active pipeline currently of M&A opportunities. When do we expect to close these transactions? You'll be hearing a lot around closing transactions, because as explained to André, one of the things around Programmatic M&A is to be smaller and more frequent transactions. Finally, on your Hi-Tech question, we have an NDA, and we cannot disclose the amount of the transaction. So that's pretty much it. Mario, would you care or can we go to Michael Bürkle's question? Would you care to comment on that? If you want, I can read it off as well. Please do. Yeah. From Michael Bürkle, from Zeno. There are quite a few best practice operators when it comes to a regular bolt-on acquisition strategy. Do you have Company benchmarks that you have studied to design your Programmatic M&A? And can you explain a bit more how your integration process looks like for the acquisitions, assuming it too, has some sort of common process for all? Well, well, hi, Michael, and I guess good afternoon for you. Thanks for joining us today. Well, yes, when we put together this initiative, we get a very deep advisory from McKinsey. We run through different practices and what it's like the seven things that we need as a Company to put together to be successful in a program such like this. And that is what we've been building. It is not that we're starting Programmatic M&A today, it is that we already started around 12 months ago, and we've been building internally all the processes and capabilities to be successful on the strategy. And as explained, while I was running through my intervention, we have focused in three tracks, which is one of the best practices to observe. You don't want to chase everything. You have to be very specific on what tracks are you going to be chasing, and that is why we were mentioning the rieggo opportunity. We are active on that space in Mexico. Then the second one goes around water treatment and recycling. That track, we're looking after assets in Mexico and Brazil. And the third one is water filtration and purification to enhance bebbia, and that we're looking into Mexico. So those are the three tracks that was one of the best practices to put in, and so that's where we are very active, building the pipeline and assessing the assets and so on. And that's pretty much it. And- Mario? For the sake of time, whenever you want, we can go offline, and I can explain to you in more detail all the different processes that we're putting together. Maybe just briefly explain on the capability we developed along with the McKinsey consulting approach of identifying synergies, developing initiatives. Do you wanna... Yeah, do you wanna go on and talk it? Yeah, yeah. So as, as you know very well, we worked extensively with McKinsey on developing in the Flow program, and it was about identifying opportunities and developing initiatives and executing on those initiatives. Originally, that methodology really came from acquisition strategies to identify synergies, pulling those synergies, translating them into initiatives, having a whole practice of executing those initiatives with initiative owners and a complete methodology, which is the methodology that because of Flow, we became very good on. And so that is also the methodology that we'll be using in integrating these companies. Yes, and just to complement, and probably just in the sake of time, is like, we verified those strategic objectives that I just explained. Then we set the financial criteria, then we established operational criteria, and that is how we look at targets. We know we have these templates, and we filter through those criteria, and if it makes sense, then we can get into the next step, of due diligence evaluation. If they don't fit, we just discard it very fast. Great. I'm just gonna add a question on there that sort of tags on to the same line of thought from Miguel Medina. Any metrics you can disclose in terms of the M&A budget to acquire that 4%-5% revenue growth? Yes. Well, this we have defined as part of the strategy. We have a full document that we did when we decide to go after this approach. To achieve this, we think we will be investing around MXN 6 billion for the next five years. That should bring additional sales in the neighborhood of MXN 4 billion, which would represent an additional growth rate of 4%-5% for the total Company. So those are... That is what it is our you know high-level numbers that goes after this Programmatic M&A initiative. Great. Thank you. Our next question comes from an anonymous attendee, and if you do want to share your name with us later on, we'd be happy to get that on our side. What are the various initiatives pursued to increase the percentage of women in the workforce at Rotoplas? José Luis, did you wanna start that one? Sure. Well, first, I'd like to comment that we have a dedicated Diversity and Inclusion Committee, where key members across all areas participate to discuss and review this matter. We are also working in line with the NMX-025, which is a Mexican standard on labor equality and non-discrimination. Through this process, we are reassessing our policies, benefits packages and compensation, code of ethics, work-life balance, turnover rate, among others. Together with human capital and our human resources business partners, we are working on improving our manufacturing facilities and have set local, achievable targets while prioritizing the well-being of all of our female coworkers. Additionally, thanks to the implementation of blow molding, we also expect to increase the percentage of women in the workplace. I don't know if Charly or Mario wanna add something else? No. Okay, thank you. Mario, do you have a comment? No, just that we are adjusting some of our processes internally to promote and accelerate that KPI in the coming months and years. And the only thing that I would add, which is not very very focused on women employment, it's also around diversity. So we are big believers of diversity, and so we really wanna increase the population of women in Rotoplas. But diversity including other segments is of tremendous importance to improve the quality of our content. And in doing that, I can say that we also make big efforts in increasing the diversity at Rotoplas, which is, in my opinion, already a very diverse community. And we already enjoy the benefits of having content in our process of evolving the Company of very high quality. Thank you. Thanks. Our next question comes from David Seaman, from Alpha Cygni. As you roll out the Tinaco Plus, given the product enhancements, what is the comparable price versus the traditional product? Thank you for your question, David. It is a very similar price, David. There's tremendous benefits. There's also improvements in some of the costs, and with this, we can have a very high investment in evolving our very core legacy products. And we're having a very high investment, having a very healthy return on investment. So for this, we keep prices at the same level. Mario, anything else that you'd like to add? Yes, well, we are having a few cost savings, which it's making our margins performance better. So, in all is like we brought to the market a much better product in all senses, you know, sustainability wise, performance wise, and so on, plus at the same price. So that should give us some advantage on market share in the coming years. In the other hand, because of the technology we're using, it is offering some cost advantages as well. So margin expansion is happening. So it's a very interesting blend to bring this new product with better cost profile to enhance the long-term perspective of this business segment. And just by the way, it's something that will be very difficult for competitors to replicate. Not that they wouldn't have access to technology like that, but since these machines produce so much output, you really have to have high demand to have high utilization of these machines, which are much higher in terms of investments compared to the rotational molding investments. So it, it's gonna be a differentiator for Rotoplas, for sure. Just because of the output that they have. Thank you. Our next questions, 'cause there's three of them, come from Rodrigo Salazar at AM Investors. Sorry, AM Advisors. Hello, thank you for all the info, and congratulations on the exciting growth story. I have three questions. The first being: Could you expand on the compound growth rate that you are expecting? So which ones can be achieved with current organic capabilities, and which will be driven more by the M&A mentioned? The second question- We can do one, one at a time. Go for it. Do you wanna go ahead, Mario, with the first one? Yes. I think a good way to see this is when you obviously all of you have different AGUA models, and when you see the growth to achieve our target for 2025, give or take, 3/4 or three quarters or 75% of that growth will come from organic, and a quarter will come from inorganic, mainly through this Programmatic M&A that I think we've been discussing this morning very thoroughly. That programmatic approach is focused, as mentioned, in one rieggo, which we this week released to the market that we acquired first Company. The second one will be water treatment and recycling, mainly focused in Mexico and Brazil. The third component will be bebbia, which is doing both ones. So those three businesses are gonna be benefiting from inorganic growth as well. And, and the reason is to accelerate growth, and take advantage of the opportunities. But most of the organic growth will come from the Products division. So that, those two things together, again, organic 75%, inorganic 25%, that will make it to our 2025 revenue target. Thank you. The second question is on services. What changed that you are expecting a much stronger growth than before? And what businesses would this growth be coming from? And in terms of profitability, he understands that this strong growth can come from investments, but what do you expect in terms of margins once that growth stabilizes? Thank you for your question, Rodrigo. So one of the things that changed is really building the capabilities that were needed for this business. This is a business that requires different processes, different digital technologies and different talent. And so it was fairly easy at the beginning to identify an opportunity that was very clear to us because of our experience in the space and the experiences we've had with our customers. But then to really be able to grow and take advantage of that opportunity, we had to develop the capabilities. So that's what has been changing very much in the past few years. And so once that is happening, growth can contin... Growth rates can continue to increase or with much larger basis also in the future, they can continue to remain. So, like we're saying, we don't expect growth to stabilize anytime soon, and so regarding margins, where will they be at? That's still gonna be some years down the line. Mario, anything else that you'd like to comment? I would say that also, as Laureen early on, you know, explained, and for all you guys, I really recommend the the BofA paper. It's very, very interesting around water. But what I was trying to convey, and to complement Charly, is that I think now the water our thesis is starting to materialize. You know, 80% of sewage water just being dumped without any treatment. Now, it's like governments and companies are starting to become more aware of that. Agriculture, you know, feeding, what? 10 million people, with all the different constraints that we have and all the water that is used in agriculture, that is also paying a lot of attention. The infrastructure is getting really old, so water scarcity also is playing a big role in the Products division. And what is becoming more evident is around climate change. You know, here in Mexico City, we're getting, like, three days of rains in December after a big drought. And it's really, you know, changing a lot. So that is really affecting water supply while water demand is increasing. So one of the reasons we see behind water services having a stronger growth is that we really anticipate that all these macro trends will start to show up as revenue into our business. Thank you. Great. And then our last question is: Could you expand on the EBITDA margin expectation or EBITDA margin reduction expectation in the U.S.? Is it driven by the septic business investment? And also, going forward, what do you expect in that region in terms of profitability? Septic business investment. Yeah. Thank you for your question, Rodrigo. So part of it, part of the margin reduction was a higher investment in developing the septic business in the U.S. And then another part of it had to do with a market that in the core products that we were commercializing contracted in 2023, as a consequence of very high growth in the previous years because of drought and because of different dynamics that happened from the pandemic, and the last season having had one of the wettest seasons in a very long time. And so that affected the market size in a very temporary term. And so both of those effects, septics and the precipitation of the last season, really affected the margins on this business. Great, thank you. Our next question comes from Alejandro Lavin, from Santander Asset Management, and it is regarding M&A. What is your firepower in U.S. dollars? It seems that you could be a bit more constrained in terms of size and accretive acquisition valuation, given that your leverage targets and thus leverage capacity and the valuation gap between yourselves and peers. Any thoughts on this? Thank you. Well, thank you, Alejandro, for joining us in AGUA D ay. Just as I explained before, we have in our long-term financial model the firepower of deploying MXN 6 billion in the next five years. And that is without incurring any additional debt or crossing the 2x net debt to EBITDA ceiling that the Company has. So we feel on one hand we are just coming out from a couple of years of investing heavily in the Products division with all these Tinaco Plus. Going forward, Products division will be more of a cash flow play. The second one, services, that we've been investing for the last five year very aggressively, as pointed out, we expect that the whole division to break even by 2025. So those two things really creates a lot of cash flow momentum, and obviously enables Rotoplas to go after this Programmatic M&A approach with this MXN 6 billion and being still very conservative in terms of balance sheet management and debt leverage. Mario, you care to comment on valuation? I think considering the size of the targets and the markets we're pursuing that. Yeah. Yes, I think that's a good point. That's a good point, Charly. You know, the assets we're pursuing is, it's they also are suffering of all this valuation gap. It is not a particular thing about Rotoplas. It's all Mexico, to say so, and that are affected by this valuation metrics. So obviously, we'll be we will be very, very thoughtful about not about making an acquisition not accretive to Rotoplas shareholders. But as what we have seen so far, the ones that we have in the pipeline, the ones that are close to closed, and the ones that are already closed, all of them are accretive as at this point. Great. Thank you. Our next question comes from David Seaman. It's a follow-up question. He's from Alpha Cygni. You mentioned that bebbia is one of the key focal points of the M&A strategy. He's curious as to what types of assets there are to buy in this segment, given that it is a new service in the market. Thanks, thanks, David, for, for your question, and, and that's one of the things, you know, as, as you know, within a few years with bebbia, some small players are coming into place, some of them in the B2C, some of them in the B2B. So what we are looking at is just accelerating the speed of our users. As Charly mentioned, we are hitting the 100,000 mark this year, and, you know, by screening these, some of them, they have 5,000, some of them have 2,000. So we believe that, you know, like, creating this momentum and putting into bebbia's platform can accelerate our long-term goal of 1 million users. So that's... There are a few businesses, small, all of them, but can be interesting to us both on our bebbia's platform. Thank you. Our next question comes from Carlos Alcaraz, from Apalache Research. In your M&A plan from the Service segment, will you prioritize the development of any of the brands, such as rieggo, for example, during 2024? Or which one do you consider could have the highest growth? Go ahead, Mario. Yes. Thanks, Carlos, for your question and for joining us in today's conference. Well, actually, we will be done in January with the rieggo track, 'cause we have already explored all the different alternatives, and we will be concluding that track in terms of Programmatic M&A. And we are considering going into 2024, that water treatment and recycling will be the highest growth opportunity to come from Programmatic M&A. Thank you. We have one last question. It is a follow-up question from Carmen Barroso at Miranda Partners. Regarding collaboration with Google Cloud and SAP or SAP, how are you handling potential integration and training challenges for employees as they adapt to these new technologies? What benefits do you expect once this integration is completed? Thank you, Carmen, for your question. One of the main reasons of doing this partnership with both Google Cloud and SAP is because we can increase the rate at which we are developing and training our talent, them carrying such large capabilities around the topic. Rotoplas, naturally, is not a subject matter expert in a lot of the topics that the alliance will cover. And so the biggest thing in this alliance is that we'll be able to have access to both talent in these companies and talent in their ecosystems, and their ecosystems are very large. And so it is very clear for us that as we believe that the centralized water solutions is the way, as a complement to centralized infrastructure, is the way to sustainability in terms of water and solving the water issues. We're very clear that this will only happen at scale with leveraging digital technologies. And so we have been very focused on identifying what is the best way to develop the subject matter expertise within Rotoplas as it's going to be so core in decentralized water solutions. Mario? Yes, just to complement you, Charly, I think the SAP and Google Cloud as a combo, I think it's a very good combination for any Company and obviously for us. I don't know if you're aware, but back in, I think it was June, July, actually, Google Cloud and SAP make a global partnership that makes it easier to work with both of them together. And we believe that it really reduces the friction about employee training, because before you have to do a lot of interfaces between the different solutions. Today, you will have everything running smoothly. Second, Google Cloud and SAP, they both have the, what they call their source, where there are multiple digital solutions to solve any type of business or function situations that runs seamlessly very easily within their platform. So instead of, you know, probably a project that will normally take you four or five months, then you can accelerate and do it in two months. So we believe that, you know, by having these two partnerships and as part of our technological and digital pillars, will accelerate Rotoplas digital initiatives and help our employees to thrive better on releasing our full potential on the digital space. Thank you, Mario. That concludes our question and answer session. If we were unable to answer any of your questions today, please do reach out to our Investor Relations team, and they will be happy to help you. We would like to take this opportunity to thank all our speakers again for their contributions and to thank you all for joining us virtually today. As a thank you for your time and interest, we would like to offer everyone on the call today 12 months with 20% off discount when you subscribe to bebbia with the code AGUADAY23. Please visit bebbia.com for more information. Please don't hesitate to reach out if you have any further questions. We appreciate your interest in Rotoplas and look forward to speaking with you again soon. That concludes today's event. You may now disconnect. Thank you very much. Thank you very much. Have a great weekend. Bye-bye. Thank you. Goodbye.