Ladies and gentlemen, thank you for standing by, and I'd like to welcome you to Alicorp's fourth quarter 2024 results conference call on the 18th of February, 2025. At this time, all participant lines are in listen-only mode. The format of the call today will be a presentation by the management and IR team, followed by a question-and-answer session. So, without further ado, I'd like to pass the floor to Mr. Roberto Dongo-Soria and Investor Relations at Alicorp. Please go ahead, sir. Good morning, everyone. This is Roberto Dongo-Soria, Alicorp's Investor Relations Officer. We are very pleased to have you with us in our fourth quarter of 2024 earnings call. Presenting today will be Mr. Álvaro Correa, Chief Executive Officer, and Mr. Luis Banchero, Chief Financial Officer. Other members of the management team will join us during the Q&A session. We will discuss the fourth quarter of 2024 results after the financial results and earnings release were issued yesterday. If you have not received a copy of the earnings release, please visit us at www.alicorp.com.pe, where you will also find the webcast presentations to accompany our discussion during this call. Please be advised that today's call is for investors and analysts only. Therefore, questions from the media will not be taken. If you are a member of the media and wish to direct any questions to the company, please contact our team directly after the call. Before we begin, I would like to remind you that forward-looking statements may be made during this conference call. These statements are based on several assumptions and factors that could change, causing the actual results to differ materially from current expectations. We ask that you refer to the disclaimers included in the earnings release prior to making any investment decisions. It is now my pleasure to turn the call over to Mr. Álvaro Correa, Chief Executive Officer of Alicorp, who will begin the presentation. Álvaro, please go ahead. Thank you, Roberto, and good morning, everyone. I would like to begin this call by providing a short update on the situation in Bolivia, given the relevance of our business in the country and the fact that 2025 will be an election year there. As mentioned in our last call, the macroeconomic environment presents significant challenges, such as high inflation, which closed around 10% in 2024, a shortage of dollars in the economy, which translates into higher costs associated with import products and raw materials, consumer confidence in historical lows, and a reduction in consumers' disposable income, promoting an increasing trade-down. In light of this challenging environment, we are implementing several measures to minimize the risks that could impact our operations. These include continuously reviewing our pricing to manage potential fluctuations in costs, maintaining close negotiations with our suppliers to avoid negative surprises related to the imported components, and prioritizing key categories and distribution channels, and optimizing cash flow generation. We will continue to closely monitor the key economic, social, and political factors, particularly those impacting our business. We are confident that the first-class capabilities of our team, combined with our competitive advantages, will enable us to navigate these challenges effectively, ensuring that we continue to serve our customers and consumers with efficiency. Please let's go to Slide number 5 for an update on the acquisition of Refinería del Espino. As mentioned in our last call, during the due diligence process, material synergies were identified as part of the acquisition, which are being captured according to our plan. As of today, approximately 60% of these synergies have begun to be captured, covering various areas of our company through strategic initiatives such as improvements in working capital, primarily through supply chain financing for the purchase of palm oil and fresh fruit bunches, which has positively impacted accounts payable base, manufacturing efficiencies achieved through the closure of a plant located in Lima from the acquired company, and operational savings from shifting production to existing Alicorp plants. Other savings have also been generated in the procurement of inputs and packaging, and further synergies have been realized through the optimization and consolidation of distribution centers and warehouses, as well as the renegotiation and streamlining of transportation logistics. In summary, we are very happy with our progress in capturing value for our company. Now, please let's discuss the potential acquisition of Jabonería Wilson on Slide number 6. Last December, we announced that our subsidiary, Alicorp Inversiones, entered into an agreement for the acquisition of 100% of the shares of Jabonería Wilson, an Ecuadorian company engaged in the production and distribution of home care products. Ecuador has presented a significant challenge for our CPG business in recent years. However, over the past year and a half, we have made notable progress by optimizing our portfolio and prioritizing key categories. Nevertheless, Ecuador's role within our corporate strategy demands stronger local presence. In this context, we identify this opportunity to enhance our operations in Ecuador and strengthen our presence in the Andean region. Jabonería Wilson is a leading company in the home care industry in Ecuador, with over 70 years of experience and a robust portfolio of brands. It is the market share leader in dishwashing paste and holds a significant position in detergents and laundry soaps. This potential acquisition would allow us to reinforce our distribution network, particularly within the traditional channel, through brands such as Lava, which dominates the premium dishwashing paste segment, and Gold and El Macho in detergents and laundry soaps, respectively. Moreover, Jabonería Wilson's deep understanding of the local consumer and clients would help us to generate significant value in Ecuador. Additionally, since Jabonería Wilson operates in a production plant in Quito, our current import model will be complemented by local production. We are currently in the process of obtaining approval from Ecuador's competition authority. Finally, it is worth mentioning that this transaction also includes their commercial operations in Peru and Colombia through Tiziano and Sanus, respectively. Before moving into the financial results report, I would like to highlight an important milestone in our sustainability strategy. Last week, Alicorp was included in the 2024 S&P Sustainability Yearbook, a global publication that recognizes leading companies in sustainability and sets industry standards. This achievement is the result of a more than 100% increase over the last four years in the corporate sustainability assessment, the evaluation used to build the Dow Jones Sustainability Indices. As a result of this progress, we are now among the top 20 most sustainable companies in our industry globally, a group of which only eight companies from our region are listed, with us being the only one from Peru. This motivates and guides us on the path to continue building a sustainable business that creates value for all our stakeholders. Now, I will turn the floor over to Luis Banchero, who will provide a more detailed discussion on the operating results and an update on our expectations for 2025. Thank you, Álvaro, and good morning, everyone. We would like to highlight that the following figures are being presented on a pro forma basis. These adjusted figures exclude non-recurrent impacts incurred during the respective periods. These non-recurrent impacts are defined on how our management team views the company's businesses, makes financial, operational, and planning decisions, and evaluates the company's ongoing performance. Additionally, as commented in our last call, we completed the sale of our crushing business in November 2024. Consequently, and in strict compliance with accounting standards, the net assets related to this operation have been removed from our 2024 balance sheet. Similarly, the result of this operation has been recognized in the consolidated income statement under the line item net income from discontinued operations. Results for 2023 have also been restated for comparability purposes. Now, let's review our consolidated results, starting with our adjusted gross profit on Slide number 8, please. Consolidated adjusted gross profit amounted to PEN 831 million for the quarter, representing a 30% increase compared to the same period in 2023. These results have been driven by positive contributions from all our businesses, particularly B2B, Aquafeed, and Consumer Goods Peru, which saw increases of PEN 68 million, PEN 60 million, and PEN 59 million, respectively. For the full year, adjusted gross profit totaled to PEN 2,865 million in 2024, reflecting a 20% year-over-year increase despite a modest 2% rise in sales volume. These results highlight the successful consolidation of our strategy to optimize our portfolio and distribution channels, particularly within our consumer businesses. Let's move on to Slide number 9, please. Consolidated adjusted EBITDA reached PEN 508 million, representing a 46% year-over-year increase for the quarter. This growth is primarily attributed to the rise in adjusted gross profit. Aquafeed, B2B, and Consumer Goods Peru segments made the largest contribution to the increase in Adjusted EBITDA, while international businesses also experienced growth during the quarter. As a result, Adjusted EBITDA margin improved by 3.6 percentage points, reaching 16.7%. For the full year, Adjusted EBITDA totaled PEN 1,616 million in 2024, an increase of PEN 389 million compared to 2023. These results reflect the strong performance of Consumer Goods Peru, international businesses, and B2B throughout the year. Please, let's turn to our operating results by business units, starting with Consumer Goods Peru and international businesses, as shown on Slide number 11. For Consumer Goods Peru, as discussed in our previous calls, the fourth quarter results for 2024 reaffirmed strong performance delivered throughout the year. These results reflect a continued commitment to the strategic focus on profitable growth, driven by our emblematic brands and the optimization of our distribution channels. In this regard, our sales mix improved in 2024, with our core products volume increasing to 76% of total sales, reflecting a one percentage point increase compared to 2023. Additionally, in our channel mix, we can see a higher concentration of volume in the traditional channel, with a one percentage point increase compared to 2023, reaching 78% of total sales. As a result, we have continued to recover market share in our emblematic brands compared to 2023. The results for November-December 2024 bimester demonstrate significant growth, with Primor achieving an outstanding 5.6 percentage point increase, reaching its highest level in nearly two years. Similarly, Bolívar gained 2.8 percentage points in laundry soaps, Don Vittorio achieved a 1.6 percentage point increase in pastas, and Casino grew by one percentage point in cookies. Finally, adjusted EBITDA for the fourth quarter 2024 increased by 22% compared to the same period in 2023. This growth was primarily driven by a 17% increase in adjusted gross profit, supported by a better product and channel mix, along with reduced pressure on raw material costs. As a result, adjusted gross profit per ton increased by 4%, reaching PEN 2,426 this quarter. The results include the impact of Refinería del Espino. Excluding the impact of this acquisition, adjusted gross profit and adjusted EBITDA increased by 15% and 21%, respectively. Regarding the performance of our international businesses, adjusted EBITDA registered a positive trend this quarter, reaching PEN 31 million, reflecting an increase of 29% compared to the same period of 2023. Adjusted EBITDA in Bolivia reached PEN 40 million in the quarter, 28% higher compared to 2023. This result is primarily attributed to the strong performance of detergents and margarines, driven by specific price actions and lower raw material costs. It is important to note that this result was achieved despite a decline in sales volume. In Ecuador, although adjusted EBITDA saw a decline mainly due to lower volume, we achieved a significant improvement in adjusted gross margin, which increased by 5 percentage points during the quarter, driven by the prioritization of key categories. It is important to highlight the strong performance of our foods platform, with sales growth in mayonnaise and pastas, particularly in the leading supermarket chains, where we increased our market share by 8 and 4 percentage points, respectively, as of November 2024. Finally, other geographies also showed improvement in adjusted gross margin compared to last year, reaching 30% for the quarter, as we continue to focus on profitable categories and markets. For 2025, the focus will be on growing our Tari brand in the U.S. and strengthening our export portfolio with profitable categories and cost efficiencies. Now, let's move on to the performance of our B2B and Aquafeed units on Slide number 12. For our B2B businesses, we continue to see sustained growth, mainly driven by the recovery and market opportunities in key categories such as baking flours and edible and industrial oils, leading to volume increases of 3% and 20%, respectively. Additionally, volume from Refinería del Espino accounted for 46,000 metric tons in the quarter, totaling 216,000 metric tons for our B2B platform, which represents an increase of 35% compared to the same period in 2023. We remain focused on maintaining healthy levels of profitability, increasing our gross margin by 1.9 percentage points in the fourth quarter, while gross profits reached PEN 196 million, representing a growth of 54% year-over-year, driven by higher volume and lower prices in commodities such as wheat and soybean oil. [Foreign language]. Thank you. Continuing with the call. EBITDA for the fourth quarter reached PEN 126 million, an increase of 50% compared to last year. In this context, we will continue to strengthen and develop strategic initiatives to ensure sustainable growth and maintaining our market share leadership. Moving on to Aquafeed, 2024 was a challenging year for both the global shrimp and salmon industries, with climate-related and sanitary issues impacting production levels, as well as relatively low international prices. As of December 2024, Ecuadorian shrimp exports remained flat, while Chilean salmon exports declined compared to previous years. In this context, farmers are actively seeking improved commercial terms to mitigate these challenges. In Ecuador, the shrimp industry has seen an improvement in its price platform compared to the first half of 2024. However, uncertainty remains about Chinese demand, which is a key factor in setting export prices from Ecuador. In this context, we remain committed to enhancing our feed formulations and increasing our market share among key clients in Ecuador, consolidating our leadership in Central America, and maintaining an active participation in future feed contracts for the Chilean market. These initiatives have gradually improved our financial results compared to previous quarters, and we expect our strategy to continue delivering strong results. We maintain confidence in Ecuador's significant competitive advantages over other shrimp-producing countries, positioning Vitapro to capitalize effectively on potential future market growth. Regarding business performance, EBITDA for the quarter increased by 86% year-over-year compared to the same period 2023. This improvement can primarily be attributed to an increase in gross profit driven by higher volume sold and cost reductions. With that, let's move on to Slide number 14 to comment on our leverage, debt, and liquidity metrics, please. Throughout 2024, we maintained a strong cash flow generation, primarily driven by the solid operating performance of our core businesses. This enabled us to reduce our net debt by PEN 498 million, which resulted in a decrease of our leverage from 2.9x as of December 2023 to 1.8x as of December 2024. Notably, these achievements were accomplished despite the execution of, one, our buyback programs in 2024, totaling PEN 973 million, as well as, two, the acquisition of Refinería del Espino. These impacts were particularly offset or partially offset by the cash flow generated by the divestment of the crushing business. Excluding these impacts of these strategic initiatives, our leverage ratio would have been approximately 1.1x. In terms of liquidity, as of December 2024, our available cash position stood at PEN 2 billion, an increase of around PEN 200 million compared to September 2024. This improvement is primarily due to enhanced cash flow generation from operations, driven by improved margins and reduced working capital needs, as well as by the exit of the crushing business. This cash position covers two times our debt maturities over the next 12 months, and when considering our committed facilities, this ratio increases to 2.4x. Looking ahead to 2024, our focus on improving our sales and channel mix, along with active working capital management, should support stable cash flow generation and help maintain healthy leverage levels. Now, let's wrap up today's presentation with a glimpse of what we expect for our full year 2025 results on Slide number 16, please. First, we would like to review the key assumptions behind our 2025 guidance. In Peru, we expect moderate economic growth that will allow us to remain focused on key categories and brands in our consumer goods and B2B businesses. In consumer goods, our emblematic brands will continue to be the main pillars for maximizing profitability, supported by strategic investments in each of them. In B2B, we will remain focused on core categories by strengthening our value proposition and addressing our clients with tailored complementary services. Our core categories in B2B are, one, baking and industrial flour, two, edible and industrial oils, three, sauces, and four, our cleaning platform. Additionally, we will continue integrating the Refinería del Espino brands into both business portfolios, maximizing the value of the categories and leveraging its distribution capacity in the eastern and northern regions of the country. In the international segment, the macroeconomic situation in Bolivia will remain the main challenge, as we previously commented. Despite this, we will continue focus on the prioritized categories for both Bolivia and Ecuador, as well as maximize profitability in other geographies throughout our import business model. In Aquafeed, we will continue with our strategic discipline, expecting a gradual recovery in the international shrimp market. We will also look to optimize our production process, taking advantage of our production facility in Ecuador. Considering these factors, we expect a revenue growth in the range of 10%- 12%, mainly driven by higher volumes of our B2B businesses, boosted by the contribution of Refinería del Espino, and Aquafeed business due to expectations regarding Ecuadorian shrimp exports. In this regard, we expect adjusted EBITDA to show mid to high single-digit growth in 2025, supported by the potential recovery of our Aquafeed business and the strong performance of our business in Peru. With respect to leverage, we expect a net debt-to-adjusted EBITDA ratio between 2x- 2.5x, supported by the aforementioned profitability improvement and stable cash flow generation. It is important to note that the high end of this range considers the effect of eventual dividend distribution, the acquisition of Jabonería Wilson, and the execution of a share buyback program. Finally, regarding our investments, we expect our CapEx to reach $70 million for 2025. Before we move on to the Q&A session, I would like to make some general comments on the convening of our general shareholders' meeting in the coming days. This meeting will take place on February 20, and its main objective will be to vote on the approval of a share repurchase program of up to 10% of the outstanding shares of the company. Although we have been repurchasing shares since 2022, we continue to maintain our confidence in the Peruvian market and reaffirm our commitment to it. We would like to repurchase. We will view this repurchase as a clear signal of confidence in the strength of our business and in our long-term prospects. We believe the current market conditions allow us to take advantage of this opportunity to strengthen our position, continue generating attractive results, and optimize our capital structure. We remain committed to maintaining a disciplined and strategic approach to ensure the sustained growth of our company and the return of capital to all our investors. Now, I would like to stop and open the session to any questions you may have. Thank you. So we'll now move to the question and answer section. If you'd like to ask a question, please press star 2 on your phone, only to be prompted. If you're dialed in by the web, you can type your question in the box provided or request to ask a voice question. We'll just wait a moment or two for questions to come in. Okay. Our first question comes from Alonso Aramburu from BTG Pactual. Please go ahead. Hi. Good morning, and thank you for the call. I just wanted to get a little bit more details on the guidance you provided in Peru. If you can provide some of your expectations on Consumer Goods Peru, specifically on sales and volume there, what would you expect for this year? Thank you. Okay. Thank you, Alonso. The expectations on this particular area are in the mid to high single digits on growth, on revenue. The fact that the rest of the businesses are growing probably faster, especially the B2B and Aquafeed, is reflected also in the guidance for a lower EBITDA growth than revenue growth because the margins there are lower. But overall, I would answer the question saying that that's more or less the range in which we expect the consumer goods business to perform, around the mid to high single digits. Okay. Thank you. Regarding the salmon business, where you had an impairment this quarter, how should we think about that business strategically for the company? Is that a core business, or is that something that the company would probably be willing to sell, if possible? I mean, how should we think about that? Well, as we have mentioned in previous calls, the particular operation in the south of Chile is very challenging. It's an industry that is not growing. In fact, it's reducing volumes and demand for feed. There is excess capacity in the region. So it is really a challenging operation. I would not say it's a core operation. Even within the Aquafeed business, I would concentrate more on the shrimp business than on salmon feed. So we are always thinking about alternatives to make a better decision for the company in that front. But I would not say it's a strategic operation. It's a marginal operation so far. And the fact that we have made this adjustment in value, the impairment is reflecting the real value of the business as of today. Great. Thank you very much. Thank you, Alonso. Okay. Thank you. Just a reminder, if you'd like to ask a question, please press star 2 on your phone and wait to be prompted. If you're dialed in by the web, you can type your question in the box provided or request to ask a voice question. We'll wait a moment or two for questions to come in. I'm not seeing any further questions. It seems like the presentation was comprehensive enough. So perhaps I can hand it back to the Alicorp team for closing remarks. Okay. Thank you. And thank everyone for participating and listening. I would close saying that 2024 was a key year for the consolidation of our strategic framework, which, as we have highlighted over the past quarters, has delivered excellent results. We're confident that our competitive advantages and our ability to adapt to change will allow us to continue on this path, creating value for all our stakeholders. We approach this year and its challenges with optimism, supported by solid foundations, and this will enable us to achieve our objectives and capitalize on the opportunities that arise in the geographies we operate. Thank you once again for your time. In case you have any further questions, please do not hesitate to contact us. Goodbye, and have a great weekend. Thank you. That concludes the call today. Thank you, and have a nice day.