Caesarstone Ltd.

Greetings and welcome to the Caesarstone First Quarter 2021 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, Investor Relations. Thank you.

You may begin. Thank you, operator, and good morning to everyone. I am joined by Yuval Daguin, Caesarstone's Chief Executive Officer, and Ophir Yakovian, Caesarstone'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 20S and subsequent filings with the SDC. 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 first quarter 2021 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. Our first quarter result marked another consecutive quarter of growth as we continue to successfully execute our strategy to transform Silverstone into a leading premium multi-material countertop company. The collective actions we have taken since we announced our global growth acceleration plan two years ago have allowed us to establish an efficient global operating platform while using M&A, as an important tool to implement our strategy. This was demonstrated by 15% growth to a record first quarter revenue of $146 million, helped by our recent accretive acquisition of Omicron and Lioli Ceramica. We were also pleased to produce a third straight quarter of a year-on-year EBITDA margin expansion. Our results are encouraging and attributable to the superb execution of our entire team, for whom I am very grateful. As we have mentioned previously, we continue to view Accretive M&A as an important tool to drive sustainable long-term growth, and we are pleased to report that integrations of Omicron and Lioli acquisitions are progressing in line with our plan. We expect to begin leveraging our world-renowned Caesarton brand to execute on our multi-material strategy through the sale of ScissorStone porcelain slabs as we introduce our new premium porcelain collection in the second half of this year throughout select markets. The integration of Omicron is anticipated to be completed in the coming months and we see great potential in the combined business once fully integrated. We are pleased with the performance of Omicron's business in the first quarter with strong contribution to our revenue while augmenting ScissorStone's performance in the U.S. Another important growth leader is our continued penetration into the U.S. big box channel for ScissorStone branded products at Home Depot stores, and we are excited by our progress in this area as we nearly doubled ourselves compared to the first quarter last year. Separately, as we have discussed previously, a key focus area for ScissorStone is to leverage technology to simplify the consumer journey. A simplified and consistent approach to the countertop purchasing process is especially important to us as we further expand the global reach of our products with multi-material offerings. To that point, we are happy with the progress made during the CS Connect test launch in Australia. and we are on track to further expand the pilot program into several of our U.S. markets. We believe that CS Connect will increase our customers' sales conversion rates and fortify new and long-standing partnerships with our customers. While there are many projects still underway as part of our plan and some lingering impacts of the pandemic across our global footprint, we are highly encouraged by our positive momentum to start the year. We have a strong financial position, a more efficient operation, and a clear strategy in place to create additional value for our shareholders. I will now turn the call over to Ophir, who will provide details on our results and outlook.