Tecnoglass Inc. Ordinary Shares

Greetings and welcome to the Technoglass Inc. first quarter 2021 earnings conference call. At this time, all participants are in a listen-only mode. A 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 to introduce Rodney Nassier, Investor Relations. Thank you. We may begin.

Rodney Nassier Thank you for joining us for TechnoGlass' first quarter 2021 conference call. A copy of the slide presentation to accompany this call may be obtained on the Investors section of the TechnoGlass website. Our speakers for today's call are Chief Executive Officer Jose Manuel Diaz, Chief Operating Officer Chris Diaz, and Chief Financial Officer Santiago Giraldo. I'd like to remind everyone that matters discussed in this call, except for historical information, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding future financial performance, future growth, and future acquisitions. These statements are based on TechnoGlass' current expectations or beliefs and are subject to uncertainty and changes in circumstances. Actual results may vary in a material nature from those expressed or implied by the statements herein, due to changes in economic, business, competitive, and or regulatory factors, and or other risks and uncertainties affecting the operations of Technoglass' business. These risks, uncertainties, and contingencies are indicated from time to time in Technoglass' filings with the Securities and Exchange Commission. The information discussed during the call is presented in light of such risks. Further, investors should keep in mind that Technoglass' financial results in any particular period may not be indicative of future results. Tecnam Glass is under no obligation to and expressly disclaims any obligation to update or alter its forward-looking statements, whether as a result of new information, future events, changes in assumptions, or otherwise. I will now turn the call over to Jose Manuel, beginning on slide number four.

Thank you, Rodney, and thank you, everyone, for participating on today's call. We continue to advance our position as an architectural glass leader. During the first quarter of 2021, we delivered record results across nearly all of our key operating metrics. This includes total revenue, gross profit, operating profit, adjusted EBITDA, operating cash flow, and backlog. Our record revenues were largely attributable to the continued positive recession of our single-family residential products, allowing for additional market share gains in the U.S., which represented 91% of our first quarter revenue. On this positive activity, we increased adjusted EBITDA by an impressive 65% to $33.5 million. Our track record of delivering strong financial results demonstrates our commitment to consistent execution, operational excellence, and innovation. We are achieving this by leveraging our structural and sustainable competitive advantages, expanding relationships, introducing new products, and investing in high return, margin-enhancing opportunities. Already in 2021, the efficiencies in our business are delivering significant structural advantages for tech dollars. We have not been impacted by tech labor constraints and material availability impacting most of our industry. We are positioned really well to efficiently control our supply chain. Manufacturing products with short lead times and best secure customers in what we expect to be a year of significant growth in demand. Based on our success so far this year and the opportunities we see ahead, we are pleased to increase our full-year revenue and adjusted EBITDA growth outlook. Santiago will discuss that in more detail later on the call. We have seen a significant demand recovery since the onset of the pandemic. We are therefore excited to announce today that the plant construction of our previously announced second float glass plant in our JV with Sancoman is back on track. We expect to commence engineering work in the second half of 2021. This plant will be one of the most advanced and efficient glass production facilities in the world. located in close proximity to our current plant network. It will further reinforce our vertically integrated platform and allow us to secure additional flow class supply to serve long-term demand. Our first quarter results are a direct reflection of the market-leading company that we have created. Moving forward, we will continue to leverage our strategic high-return investments in capacity, products, and people. Together with our business development activities and growing project portfolio, we plan to maintain our industry-leading margins and drive above-market growth. We remain very excited about our outlook and the opportunities to generate shareholder value in 2021 and beyond. I'm extremely proud of our outstanding performance, and I have never been more optimistic about the future for Tecnoglass. I will now turn the call over to Chris to provide additional details on our backlog.