Caesarstone Ltd.

Greetings and welcome to the CSIS Stone third quarter 2020 earnings conference call. At this time, all participants are in a listen-only mode. A brief 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. As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Brad Cray of ICR. Thank you. You may begin.

Thank you, operator, and good morning to everyone. I am joined by Yuval Daguin, Cesar Stone's Chief Executive Officer, and Ophir Yakovian, Cesar Stone's Chief Financial Officer. Certain statements in today's conference call and responses to various questions may constitute forward-looking statements. We caution you that such statements reflect only the company's current expectations and that actual events or results may differ materially. For more information, please refer to the risk factors contained in the company's most recent annual report on Form 20F, and subsequent filings with the SEC. In addition, on this call, the company will make reference to certain non-GAAP financial measures, including adjusted net income loss, adjusted net income loss per share, adjusted gross profit, adjusted EBITDA, and constant currency. The reconciliation of these non-GAAP measures to the most directly comparable GAAP measures can be found in the company's third quarter 2020 earnings release, which is posted on the company's investor relations website. Thank you, and I would now like to turn the call over to Yuval. Please go ahead.

Thank you, Brad, and good morning, everyone. The benefits of our team's collective efforts are emerging with visible progress evident in our third quarter results. During the quarter, we were encouraged with a sequential improvement in year-over-year sales trends compared to the second quarter 2020. We also effectively controlled costs to accomplish our highest adjusted EBITDA and margin in over two years. Furthermore, we generated substantial cash flow form operation of $28.2 million, further strengthening our available financial resources. Our strong working capital management has provided us with significant flexibility to continue executing against our strategic plan. In addition, following the improvement performance of our business, we have resumed several initiatives that were postponed following the onset of COVID-19 pandemic. With a mission to be the first global brand of choice for countertops, ScissorStone's strategy includes three pillars. premium multi-material offering, customer experience and engagement, and global footprint expansion. These three strategic pillars are integral to unlocking Caesarstone potential and are all managed under our Global Growth Acceleration Plan. The majority stack acquisition of Lioli, a producer of cutting-edge porcelain countertop slabs, represents a major milestone in our objective to become a leading global multi-material premium countertops brand of choice. Porcelain is one of the fastest growing countertop categories, and this acquisition provides an attractive opportunity to complement ScissorStone established presence in the engineered quartz surfaces. The OLI is located in the center of India's porcelain hub, equipped with top-of-the-line Italian manufacturing technology and the cost-effective vertically integrated operation to efficiently supply porcelain countertop products. NIOLI is directly aligned with our strategy to leverage our brand, distribution, sales and global scale to efficiently enlarge our addressable market and to further advance ScissorStone as the brand of choice for countertop around the world. We will provide premium multi-material countertop offerings as we move through 2021, with porcelain being marketed alongside quartz in all regions under our leading global ScissorStone brand. In addition, we are investing in technology and new engagement tools that we expect to launch in several markets in the coming months to significantly strengthen our sales and marketing capabilities, which we believe will enhance our customers' experience. Overall, our plan is progressing, our performance is improving, we have brilliant talent in place to further execute our strategy, and we remain confident in the prospect of our business as the recovery continues. With that, let me turn the call over to Ophir, who will provide details on our results and outlook.