Greetings. Welcome to OMA's second quarter 2026 earnings conference call. At this time, all participants are in a listen-only mode. A question and answer session will follow the formal presentation. If anyone should require operator assistance during the conference, please press star zero on your telephone keypad. Please note this conference is being recorded. I will now turn the conference over to Emmanuel Camacho. Thank you. You may begin. Thank you, Cleo. Hello, everyone. Thank you for standing by, welcome to OMA's second quarter 2026 earnings conference call. Thank you for joining us today as we discuss our company's performance and financial results for the past quarter. Joining us today are CEO, Ricardo Dueñas, and CFO, Ruffo Pérez Pliego. Please be reminded that certain statements made during the course of our discussion today may constitute forward-looking statements, which are based on current management expectations and are subject to a number of risks and uncertainties that could cause actual results to differ materially, including factors that may be beyond our control. Now, I will turn the call over to Ricardo Dueñas for his opening remarks. Thank you, Emmanuel. Good morning, everyone. Thank you for joining us today. This morning, Ruffo and I will review our quarterly operational and financial results. Then we'll be pleased to answer your questions. During the second quarter of 2026, OMA served 7.2 million passengers, an increase of 0.4% versus the second quarter of last year, while available seat capacity decreased by 0.3%. Domestic passenger traffic grew by 0.6% as compared to the second quarter of 2025. Our San Luis Potosí International Airport was a main contributor to domestic passenger traffic growth, with increases on the routes to Acapulco and Cancún airports. These routes collectively added over 23,000 passengers during the quarter, representing 61% of the total domestic passenger growth. International passenger traffic decreased by 1.2%, mainly driven by our Monterrey Airport, with lower traffic on the Los Angeles, Dallas, Fort Worth, and San Antonio routes. In terms of growth by airline, Volaris, which accounted for 25% of our total passenger traffic in the quarter, recorded a 7% growth versus the second quarter of 2025, while Viva, which accounted for 50% of the total passenger traffic, recorded a 2% decline. During the quarter, airlines opened 24 new routes across our airports, including 18 domestic and six international routes. This included the launch of Aeroméxico new route to Paris in April, as well as Iberia's new route to Madrid in June, marking the airline's first-ever operation in Monterrey. The Paris route generated more than 14,000 passengers during the quarter. Following its strong initial performance, the route was converted from a seasonal to a permanent year-round operation, further increasing Monterrey's connectivity with Europe. Turning to our financial performance, aeronautical revenues increased 4% during the quarter, mainly reflecting the tariff adjustment that became effective in mid-April. Commercial revenues continued to perform well during the quarter, increasing 7% versus the second quarter of 2025. Commercial revenue per passenger reached MXN 66.4, an increase of 60.3%, while occupancy of commercial space remained at 96% at the end of the quarter. Diversification revenues increased by 17% year-over-year, mainly driven by OMA Carga business, where revenues increased 29%, reflecting new client operations and additional high-value cargo handling in Monterrey, as well as higher activity at our Chihuahua warehouse. Hotel services revenues grew by 6%, supported by higher occupancy at the NH Collection Terminal 2 hotel and higher average daily rates at both hotels. Industrial services revenues reached MXN 57 million, an increase of 9%, mainly attributable to a greater number of square meters leased. OMA's second quarter adjusted EBITDA increased 6.6% to MXN 2.7 billion, while the adjusted EBITDA margin expanded to 75.2%, reflecting revenue growth and disciplined cost management despite continued inflationary and labor cost pressures. Total investments in the quarter, including MDP investments, major maintenance, and strategic investments, were MXN 949 million. Before concluding, I would like to highlight two relevant events during the quarter. First, OMA achieved a sustainability performance target linked to our sustainability-linked bonds, reaching an 88% reduction in Scope 1 and Scope 2 greenhouse gas emissions per passengers by the end of 2025, well above the 58% reduction target set against our 2018 baseline. Finally, on July 16th, we issued MXN 3 billion in long-term notes in the Mexican market. Proceeds were used to repay MXN 1.7 billion of outstanding short-term bank debt, as well as to repay the MXN 640 million corresponding to our OMA 2023 notes maturing on July 24th. The remaining proceeds will fund committed investments under the Master Development Program and general corporate purposes, including working capital requirements. I would now like to turn the call over to Ruffo Pérez Pliego, who will discuss the financial highlights for the quarter. Thank you, Ricardo, and good morning, everyone. I will briefly go over our financial results for the quarter before opening the call for questions. Aeronautical revenues increased 3.9% relative to the second quarter of 2025, mainly reflecting the tariff adjustments that took effect in April 2026. Domestic passenger charges grew in line with these new tariffs, while international passenger charges declined, mainly due to the appreciation of the Mexican peso and lower international traffic. Other aeronautical services grew at a more moderate pace than the tariff increase, reflecting fewer aircraft operations during the quarter. Together, these effects resulted in a 3.5% increase in aeronautical revenue per passenger. Non-aeronautical revenues increased 9.8%. Commercial revenues increased 6.7%, mainly driven by higher parking, restaurants, VIP lounges, and retail revenues. Parking revenues increased 8.8%, driven by higher passenger traffic as well as higher tariffs from longer stays across our airports. Restaurants and retail revenues were up 11.3% and 4.2% respectively, both mainly as a result of higher penetration rates and opening of new outlets. VIP lounges increased by 15.8%, driven by higher capture rates in the Monterrey Airport, as well as the recent start of operations of the VIP lounge in Torreón. Diversification activities grew by 17.4% in the quarter, mainly due to the increase in OMA Carga revenues. Total aeronautical and non-aeronautical revenues grew 5.4% to MXN 3.6 billion in the quarter. Construction revenues amounted to MXN 844 million in 2Q 2026. The cost of airport services and G&A expense increased 3.6% versus 2Q 2025, supporting the expansion of adjusted EBITDA margin. The increase mainly reflected higher payroll, contracted services, and materials and supply expenses. Payroll increased 9.5%, mainly reflecting inflationary adjustments and addition of new positions. Contracted services increased 10.7%, primarily due to higher security and cleaning expenses resulting from contract renewals and minimum wage increases. Materials and supplies increased 18.7%, mainly reflecting the higher operation requirements in our OMA Carga and our VIP lounge operations. Concession tax increased 3.9% to MXN 294 million. Major maintenance provision was MXN 99 million compared to MXN 50 million in 2Q 2025, reflecting new MDP provisioning requirements. As a result, adjusted EBITDA increased 6.2% to MXN 2.7 billion, and the margin reached 75.2%. Our financing expense decreased by 17.4% to MXN 337 million in the quarter, mainly as a result of a lower effect from the change in present value of our major maintenance provision, which was partially offset by higher interest expense on debt. Consolidated net income was MXN 1.5 billion in the quarter, an increase of 10.2% versus 2Q 2025. Turning to our cash position. Cash generated from operating activities in the second quarter amounted to MXN 1.8 billion, while investing and financing activities used MXN 776 million and MXN 2.1 billion respectively. As a result, our cash position at the end of the quarter was MXN 2.6 billion. At the end of June, total debt amounted to MXN 14.3 billion, and leverage, measured as net debt to adjusted EBITDA ratio, stood at 1.1 x. This concludes our prepared remarks. Cleo, please open the call to questions. Thank you. We will now be conducting a question and answer session. If you would like to ask a question, please press star one on your telephone keypad. A confirmation tone will indicate your line is in the question queue. You may press star two if you would like to remove your question from the queue. For participants using speaker equipment, it may be necessary to pick up your handset before pressing the star keys. One moment while we pull for questions. Our first question is from Jens Spiess with Morgan Stanley Investment Management. Please proceed with your question. Hi. Congrats on the results. I have a question on the maximum tariff completions. What's the expectation throughout the year? Also, if you can give a bit more details on your CapEx. We saw that you have spent so far, like, MXN 1.4 billion in your Mexican airports through the first half of the year. While your MDP investments are MXN 1.2. What's going on there? Are you anticipating some of the investments that are in the MDP plan for 2027? Sure. For the first part, Jens, we're planning to end the year. We just recently adjusted tariffs mid-April. Considering that, we believe by the end of the year, we're going to be around the 93% compliance with maximum tariffs. As for the second part, maybe, Ruffo, you want to join? Sure. Remember that we had some carryover investments from the previous MDP that were going to be completed in 2026 and 2027. That has to be added to the actual 2026 commitment. For this year, we are expecting around MXN 3.5 billion- MXN 4 billion total investments for the year. Okay. Perfect. Yeah, just one additional question on that. It seems like flight schedules are pointing to some seat growth moderation the fourth quarter, a very strong growth in the first quarter of next year. Are you seeing the same? Not yet. The schedules, or I would say more definitive schedules, for the winter season have yet to be published. Right now we have an indication and, yeah, we see some conservativeness from airlines in Q4. I don't necessarily think that the first quarter yet do reflect the expectations of airlines, and they're just very indicative at this time. Got it. All right. Thank you. Thank you. Our next question is from Rodolfo Ramos with Bradesco BBI. Please proceed with your question. Thank you for taking my question. I have two. The first one is a follow-up on Jens. I do not know if you can talk a little bit about your outlook on traffic growth. I know there is a lot of challenges on the horizon here, but wanted to get your sense of visibility and specifically if you can comment on the potential for developing Monterrey's route network. It was encouraging to see more regular services to New York, for example. I do not know if there is any other low-hanging fruit on the domestic market. That is my first question on the traffic side. On the second, if I may. It was very interesting to see OMA Carga with very strong upline growth. Just one of your peers has also seen a very active activity on the cargo side. Wanted to get a little bit of the sense that you get from the industry that you are seeing participating in your volumes. I do not know if there is any other potential for you to go into bonded warehouses or try to capture more value out of this boom in exports that Mexico is having. Thank you. Sure. Thank you, Rodolfo, for your question. Regarding traffic growth, yes, of course, as a result of the oil spike, jet fuel spike that we have seen in the first half of the year, we are seeing airlines adjusting some of its capacity for the rest of the year. Whereas still, we are anticipating to be in positive numbers. We think traffic is going to be around flat to low single digits. I think that reflects on the resilience of some of the OMA's airport network. There are some Monterrey routes already announced that are in the pipeline, specifically, with WestJet, Acapulco, Montreal, Chihuahua, Mexico AIFA, Mazatlán, Vancouver, Monterrey, Vancouver. We are currently working with airlines to try to expand and take advantage of Monterrey's strategic location. In terms of cargo, yes, we are seeing very good numbers coming from there. We are currently expanding our warehouse. We are planning to finish that expansion in the next coming months. Some of the growth you have seen has been driven by new client operations, as well as the handling of additional high-value cargo operations. Chihuahua, there was an interesting spike due to the implementation of handling service for UPS and FedEx. We are investing in OMA Carga, in systems and processes. We expect good growth in the next coming months. Thank you. We continue seeing that growth type of growth. Thank you. Thank you. Our next question comes from Alberto Valerio with UBS. Please proceed with your question. Hi team. Thanks for taking my questions. My first question is related to the working capital of the company. We saw a nice growth, nearly double-digit growth from net income. When you go for the cash generation from operations, it's a little bit soft than that. If you can explain the differences in receivables and payables, if they're recurring for the remainder of the year, or if it was spot on for this quarter. Sure. Hi, Alberto. Yes, we've seen increased utilization of working capital. We are accelerating our CapEx execution versus what we had last year. There are some advance payments of new contracted works that are reflected as advances in the working capital. As construction progresses, those advances will be amortized. They are a signal of our increased CapEx execution. The other one is our tax payments have been higher. We have a higher factor for calculation of provisional taxes versus what we had in the first half of last year. Even though provisional taxes are based on revenue, and revenues are growing in the low single digits, our factor reflects that higher level of provisional payments, which in the annual tax filings of next year, there will be less of an impact. During the year, we shall see that type of increase in taxes paid. Fantastic. We should see this normalized construction, at least until the MDP CapEx being on execution. The tax is something more on regular basis. Is that correct? Yes. Starting next year, a new factor will be recalculated. That will tend to normalize levels versus this year. Fantastic. One more, if I may. I might need to cut in the first question of our colleague. When should we expect to almost reach the maximum tariff again? Should we draw a linear line into that? This year, we're expecting around 93%-95% compliance with the maximum tariff for full year. Next year, we should see what the expected growth in traffic is, as well as the adjustments to the inflation. As you know, maximum tariff is adjusted every year with inflation. We'll have to see how those vectors behave and see how we get to our 99% target. As we said, we would probably target between two to three years after implementation of the MDP to get to that level. Probably we'll be reaching the maximum tariff by the end of 2027, middle of 2028? Yes. That would be reasonable. Yep. Fantastic. Thanks so much. Thank you. Our next question is from Anton Mortenkotter with GBM. Please proceed with your question. Hi, guys. Thank you for taking my question. This is a bit of a follow-up on the maximum tariff question. Do you think that, if oil pressures remain, should we think that the compliance and the maximum tariff could take longer, or are you indifferent to those pressures? Also on the commercial side, excluding diversification activities, we saw a slight increase in the nominal per pax, slightly above inflation. What kind of growth should we expect on those business lines going forward? Thank you. On the second part of your question, yes, on the commercial side, I think that we will remain stable relative to current levels of around MXN 66 per pax. We expect to open the new areas in the Monterrey Airport towards and be fully operational by the end of next year. We shall see a pickup in commercial revenue per passenger until 2028. For the following months, I think the 66 level is reasonable to assume. Regarding the maximum tariff, what you mentioned of increased oil prices and its impact, yes, that could be a headwind towards fully passing through our maximum tariff. We'll see where we are at the beginning of the year and the situation has become more stable and more visible. We can start taking decisions of how to pass through the rest of the increase. Very useful. Thank you. Thank you. Our next question is from Gabriel Himelfarb with Scotiabank. Please proceed with your question. Good morning. Thanks for the call. My question is regarding what's next for OMA beyond the MDP, and how could VINCI support the long-term growth strategy for OMA? Thank you. I'm sorry, Gabriel. We couldn't catch it. Can you repeat it? The line is not working very well. Sure. Can you hear me now? Yes. Can you hear me? Sorry. Yes. Sorry. My question is regarding what's the next value driver for OMA beyond the MDP, and how could VINCI support, or what was the attribution of VINCI for OMA's growth in the next years? Sure. Thank you, Gabriel, for your question. Regarding the second part, we see many advantages. Just to mention a few, just access to human capital has been a great advantage. Access to a larger network of airports has allowed us to try to bring best practice around the world. We have seen them concretely in the last quarter, in the last six months, with all the technology projects that we have implemented in our network and specifically, in Monterrey. Our bargaining power with suppliers and with airlines has also been a great advantage. Their knowhow and their expertise in the construction side of the business has also been very valuable. Their knowledge in terms of commercial planning has also been very effective, and you have seen those in the numbers. As for drivers coming forward, we're working in new projects. We're currently working in two new hotels, an additional one in Monterrey, a new one in Ciudad Juárez. We're expanding our cargo operations as well. We're currently evaluating industrial park expansion as well, and we will continue optimizing our efficiency and trying to improve the commercial revenues per passenger. As you know, by the end of next year, we will have the new terminal in Monterrey that should add new commercial revenue to our airports. Okay. Thank you very much. Thank you. This concludes our question and answer session. I would like to turn the floor back over to Ricardo for closing comments. We would like to thank everyone for participating in today's call. We appreciate your insightful questions, engagement, and continued support. Ruffo, Manuel, Ayar, and I are available to answer your questions. Thank you once again, and have a great day. Ladies and gentlemen, thank you for your participation. This does conclude today's teleconference. Please disconnect your lines and have a wonderful day.