Infrastrutture Wireless Italiane S.p.A.

Good morning. This is the course call conference operator. Welcome and thank you for joining the third quarter 2024 in with financial results conference call. As a reminder, all participants are in listen-only mode. After a presentation, there will be an opportunity to ask questions. Should anyone need assistance during the conference call, they may signal an operator by pressing star and zero on their telephone. At this time, I would like to turn the conference over to Mr. Fabio Ruffini, Head of Investor Relations. Please go ahead, sir.

Good morning, everyone. Thanks for joining us. With me, there's Diego Galli, with General Manager, and Emilia Trudo, Chief Financial Officer. Please allow me to draw your attention to the safe harbor statement you see on page two. And as usual, following a brief presentation on the results, we will open the floor to Q&A. Over to you, Diego.

Thank you, and good morning, everyone. Cortex-3 results continue to build on in-width growth trajectory. All main KPIs recorded a further expansion. The structural need for digital infrastructure in Italy is confirmed. In-width is proving resilient in a transitional year for our largest clients, which has an impact on market trends. The Michigan Telco corporate transactions have been announced with the potential to improve market fundamentals and unleash additional investments. EWIT industrial execution is steady at high volume of delivery. We will have more than 900 hours in 2024, expanding the asset base at a creative return. Financials are up in the high single-digit range, with yet another quarter of EBITDA margin expansion. This implies an execution towards the low end of the guidance range for 2024, on the back of the holos market, which continues to grow at low pace, and investment in mobile generally still constrained by budget availability. Long-term growth visibility remains high based on CPI, NSA growth commitments until 2030, and operational plans with clients. From a partnership point of view, we continue on the path to reduce leverage, despite having increased dividends by €100 million and having completed that €300 million shared by BECC. In which builds balance sheet flexibility that will be used to deliver incremental value to shareholders. We plan on updating the market on this front during Q4 results. Moving to main trends of the quarter on page 4. The key figures for the quarter show 7.6% revenue growth. New service up 61% year-on-year. 9% growth in EBITDA after release, with margin up by 1 percentage point. Recurring cash flow at 159 million euro, up 3% euro over year. Net debt to EBITDA at 4.8 times, improving quarter on quarter. From industrial point of view, solid delivery with more than 200 new sites, more than 900 new POPs, for a tenancy ratio up to 2.3 times. And solid base of real estate transactions, main efficiency driver at more than 300. In brief, a resilient growth trajectory in a context of transformation for our largest clients and a confirmed structural need for better digital infrastructure in Italy. Now, I will turn it over to Emilia for a more detailed review of the results. Thank you.