Alpek Sab De Cv Ord

Good morning, everyone. Welcome to Altec's third quarter 2025 earnings webcast. I am Bárbara Amaya, Altec IRO, and I am pleased to be here today with Jorge Young, our CEO, and José Carlos Fonts, our CFO, who will be presenting today's material. Today's agenda will cover the following topics. First, Jorge will provide an overview of the quarter. Then, José Carlos will cover the financial results in greater details. as well as the process regarding the merger of Controladora Altec with Altec following the successful completion of regulatory approvals. Afterwards, Jorge will discuss the outlook for the remainder of 2025 and an update on tariffs. Finally, we will conclude with a Q&A session. Please note that the information discussed today may include forward-looking statements regarding the company's future financial performance and prospects. which are subject to certain risks and uncertainties. Actual results may differ materially and the company cautions the market not to rely entirely on these forward-looking statements. Alpec undertakes no obligation to publicly update or revise any forward-looking statements, whether it is as a result of new information, future events, or otherwise. We express our financial results in U.S. dollars unless otherwise specified. For your convenience, this webcast is being recorded and will be available on our website. Jorge, I'll turn the call over to you.

Thank you, Bárbara. Good morning, everyone. Thank you all for joining us today. Alpek's financial and operating results show a 10% sequential improvement versus the previous quarter, while still reflecting the challenging environment in the chemical industry. The polyester segment reported a better product mix and steady volume levels, following the resumption of our PCA operations at the facilities that had undergone shutdowns in the previous quarter. Meanwhile, the plastics and chemical segments continued to deliver consistent results, supported by stable regional demand seen throughout these months. Operating free cash flow was 68 million, These financial results reflect ALPEC's ability to partially offset the impact from global oversupply, which continues pressuring reference margins as well as lower ocean freight rates. Now I will turn the call over to José Carlos to provide our financial performance in greater detail.

Thank you Jorge. Good morning everyone. Thanks for joining us today. Allow me to dive deeper into our quarter results. Total volume was 1.12 million tons, increasing by 1% from the previous quarter and increasing 8% on a yearly basis, as it remained pressured from persistent market oversupply, particularly in the polyester segment. Reported EBITDA totaled $116 million, including a $21 million negative adjustment. This figure reflects extraordinary costs from the permanent closures of the Cedar Creek and the River Valley site as part of our footprint optimization strategy. Comparable EBITDA resulted in $137 million, a 10% increase from the previous quarter, driven primarily by the polyester business.