Tecnoglass Inc. Ordinary Shares

Good morning and welcome to the TechnoGlass second quarter 2022 earnings conference call and webcast. All participants will be in the listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star then one on your touchtone phone. To withdraw your question, please press star then two. Please note, this event is being recorded. I would now like to turn the conference over to Brad Cray of Investor Relations. Please go ahead.

Thank you for joining us for Technoglass' second quarter 2022 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 Dias, and Chief Financial Officer Santiago Geraldo. 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 TechnoLess' current expectations or beliefs and are subject to uncertainty and changes in circumstances. Actual results may differ 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 other risks and uncertainties affecting the operation of Technoglass' business. These risks, uncertainties, and contingencies are indicated from time to time in Technoglass' filings with the SEC. The information discussed during the call is presented in light of such risks. Further, investors should keep in mind that Technoglass's financial results in any particular period may not be indicative of future results. Technoglass 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, Brad, and thank you everyone for participating on today's call. We were very pleased to end the first half of 2022 with record levels of revenue, gross profit, adjusted EBITDA, and backlog. Our total revenues in the second quarter increased 39% year-over-year to $169.1 million. marking our fifth straight quarter of record revenues driven by our continued expansion in the single-family residential end market and accelerating growth in our commercial business. Our single-family residential business, which is mainly focused on remodel and renovation-based projects, was up approximately 86% year-over-year to a record 75.9 million, or 45% of total revenues. This achievement reflects the rapid expansion of this business in key U.S. regions. Our track record of exceptional client service and unique product offerings have allowed us to continue to gain market share with new and existing customers. Momentum in our results is also supported by accelerating activity in our commercial business, which we expect to continue for the foreseeable future. Building on our impressive sales performance, we produced another quarter of record adjusted EBITDA while sustaining an industry-leading adjusted EBITDA margin in excess of 30%. Our disciplined cost control efforts, product innovation, capacity enhancements, and higher mix of single-family residential revenues all contributed to this strong margin. The momentum in our results and established track record of exceptional cash flow further validate Tecnoglass' unique vertically integrated business model. A strong cash flow has allowed us to the lowest net debt to LTM adjusted dividend ratio in the company's history at 0.5 times as of June. Additionally, given the strength of our business and cash flow, today we announced a 15% increase in our dividend to further boost capital returns to shareholders. Overall, we are proud of our entire team for their continued dedication to excellence and are excited by the trajectory of our business. Looking to the remainder of 2022, we are confident in our ability to achieve our increased guidance to deliver another year of record results. I will now turn the call over to Chris to provide additional details on our record backlog.