Atlantica Sustainable Infrastructure plc

Thank you very much. Good morning and thank you for joining us for our third quarter 2022 conference call. A few messages to start with. In the first nine months of this year, revenue has increased by close to 5%. and adjusted BDA has increased by 4.3% on a comparable basis, while cash available for distribution increased by 6.2%, up to $179 million. Net corporate debt, the ratio stood at three times as of the end of September, providing us with significant financial flexibility. And regarding growth, we have committed close to $150 million in new investments in storage and EV. With that, I will turn the call over to Francisco, who will take you through our financial results.

Thank you, Santiago, and good morning to everyone. Please turn to slide number four, where I will present our key financials for the first nine months of 2022. Revenue reached $858 million, which represents a 4.9% growth on a comparable basis, excluding the effect from the non-recurring solar project we discussed last year and foreign exchange. Adjusted EBITDA amounted to $631 million, representing an increase of 4.3% on the same comparable basis. Regarding cash flow for distribution, we generated $179 million in the first nine months of 2022, an increase of 6.2% year over year. On the following slide, number five, you could see our performance by geography and business sector. In North America, revenue increased by 5% to $324 million in the first nine months of 2022, while EBITDA increased by 6% thanks to the assets we recently acquired in the United States. In South America, revenue and EBITDA both increased by 5%, to $123.95 million, respectively, thanks to the recent acquisitions. Revenue in the Maya region decreased by 20% in the first nine months of 2020 to 2022, mainly due to foreign exchange impact and the non-recurring effect mentioned previously. EBITDA in the Maya region decreased by 8% in the first nine months of 2022, mostly due to FX impact and the one-time gain in the first quarter of 2021. Excluding this impact, revenue would have grown at 4.9% and EBITDA by 2.6%. Looking below at the results by business sector, we can see similar effects. Let's now please turn to slide number six, where we will review our operational performance. Electricity produced by our renewable assets reach 4,155 gigawatt hours in the first nine months of 2022, an increase of 20 percent versus the same period of 2021. The increase was largely due to the contribution of assets recently acquired. Looking at our availability-based contracts, once again, ACT continues to show solid performance. In transmission lines and water, the two other sectors where our revenue is based on availability, we continue to achieve high availability levels. Now let's please turn to slide number seven to walk you through our cash flow for the first nine months of 2022. Our operating cash flow reached 516 million, strong 16.7% increase compared to the first nine months of 2021. Investing cash flow in the first nine months of 2022 mainly includes the investments in new assets and the distributions received from entities under the equity method. Financing cash flow was $263 million, and it mainly includes the schedule, principal repayments of our project financing agreements for $196 million, and dividends paid to shareholders and non-controlling interest for $178 million. On the next slide, number eight, we would like to review our net debt position, which has decreased significantly compared to 2021 year end. Net project debt as of September 30th, 2022, was $3,946 million, a decrease of more than $500 million versus December 31, 2021. In addition, we closed the first nine months of 2022 with net corporate debt of $850 million. With this, our net corporate debt to CAFTI pre-corporate debt service ratio stood at three times, which puts Atlantica in a good position to finance our new investments. I will now turn the call back over to Santiago.

Thank you. Regarding growth, we are happy to announce close to $150 million in new investments. These include, among others, our first standalone battery storage system and an investment in a solar PV plant in operation on which we also plan to add storage. If we look at slide number 10, we will talk briefly about the new battery storage project which is going to start construction and is located inside our geothermal plant in California. The battery system is expected to have a capacity of around 100 MWh and to start operation in 2024. This project will benefit from the Inflation Reduction Act, which we believe is and will be a game changer for the sector. In fact, we expect this project to be the first one of a pipeline of projects in the Southwest. This is a region that presents a clear opportunity for storage and with our experience in most renewable energy technologies and in storage, we believe that Atlantica is in a very good position to take advantage of this sizable growth opportunity. On the next page, we review our first investment in PV plant with batteries. We have closed recently the acquisition in Chile of a 70 megawatt PV plant through our renewable energy platform there, and we expect to add a battery system next year. Let me turn back the call to Francisco, who will cover the last part of our presentation.