Sigma Foods SAB

Good day and welcome to Alpha's second quarter 2024 earnings conference call. At this time, all participants are in a listen-only mode. There will be a question and answer session at the end of the presentation with instructions given at that time. You may also submit questions at any time during the call using the Q&A button on the webcast, which will be answered during the Q&A session. As a reminder, today's conference is being recorded. Now, I would like to turn the call over to Mr. Hernan Lozano, Vice President of Investor Relations. Mr. Lozano, you may begin.

Good day, everyone, and welcome to Alpha's second quarter earnings conference call. Further details about our financial results can be found in our press release, which was distributed yesterday afternoon, together with a summarized presentation. Both are available on our website in the investor relations section. Let me remind you that during this call, we will share forward-looking information and statements. which are based on variables and assumptions that are uncertain at this time. It is my pleasure to participate in today's call together with Eduardo Escalante, ALPHA's CFO, and Roberto Olivares, SIGMA's CFO. I will now turn the call over to Eduardo.

Thank you, Hernán, and good day, everyone. We greatly appreciate your participation. We are pleased to report better than expected results once again. Our two business units are benefiting from solid execution to boost operation efficiencies, maximize cash flow, and capitalize on specific dynamics in the respective markets. On a consolidated level, this led to double-digit EBITDA growth in the second quarter and first half of the year. driven mainly by outstanding performance at Sigma. For Alpek, it was encouraging to see a slight sequential improvement in Asian reference polyester margins as headwinds persist in the global petrochemical industry. Alpek's accumulated comparable EBITDA of $312 million is on track to reach its full year guidance, supported by resilient demand and cost reduction initiatives. Volume increased 2% in the first half of the year, driven by the polyester segment. During the second quarter, ALPEC also completed its comprehensive plan to capture $75 million in annualized savings. Decisive actions over the past several quarters include footprint optimization, organizational restructuring, and improved power supply agreements. Efforts focused on enhancing cost competitiveness will continue. It is important to note that ALPEX leverage ratio improved to 3.3 times at the close of the second quarter, driven by higher EBITDA and 5% lower net debt quarter-on-quarter. Reduced CAPEX, dividends and optimizations in net working capital contributed towards a strong cash flow generation this quarter. Alpex operational and financial initiatives to mitigate industry headwinds are paying off and keeping the company well positioned to become a standalone entity. I will now turn the call over to Roberto Olivares, Sigma CFO, to cover the following section. Please, Roberto.