Becle, S.A.B. de C.V.

Ladies and gentlemen, good morning and thank you for joining Beckler's first quarter on Audited Financial Results Call. During this call, you may hear certain forward-looking statements. These statements may relate to our future prospects, developments, and business strategies, and may be identified by the use of terms and phrases such as anticipate, believe, could, estimate, expect, intend, may, plan, predict, project, will, goals, targets, strategy, and similar terms and phrases and may include references and assumptions. Forward-looking statements are based on our current expectations and assumptions regarding our business, the economy, and other future conditions. Because forward-looking statements relate to the future, by their nature, they are subject to inherent uncertainties, risks, and changes in circumstances that are difficult to predict. Our actual results may differ materially from those in forward-looking statements. For all the foregoing reasons, you are cautioned against relying on such forward-looking statements. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. That having said, I would now like to welcome you to the call and pass the line to Mr. Fernando Suarez, Chief Financial Officer. Fernando, the line is yours. Please go ahead.

Good morning, everyone. Thank you for joining us to discuss the unaudited financial results for the first quarter ended March 31st, 2022 of Beckley, commercially known as Jose Cuervo. We're joined today by Juan Domingo Beckman, Chief Executive Officer and the rest of the senior management team. Before we begin, we would like to remind you that the figures discussed on this call were prepared in accordance with International Financial Reporting Standards or IFRS and published in the Mexican Stock Exchange. The information for the first quarter of 2022 is preliminary and is provided with the understanding that once financial statements are available, updated information will be shared in the appropriate electronic formats. At this time, we would like to remind participants that your lines will be in listen-only mode until the question and answer session. Now, I will pass the call on to Beckley's CEO, Mr. Juan Domingo Beckman.

Good morning. Thank you for joining us today to discuss Bechler's first quarter 2022 results. I will make some opening comments, and then I will ask Luis Felix, along with the Proximo team, to discuss the performance of our U.S. and Canada business. Olga Limon will review our Mexico and Latin America results, and Gordo John will discuss our results in the EMEA and APAC region. Fernando Suarez will then walk you through our financial results. I am very pleased with the results we achieved for the first quarter Of 2022, mobility restrictions were lifted in most of our geographies, which boosted on-premise sales, but we still faced a challenging supply chain environment. Nonetheless, we are learning to adapt to this kind of adversity through demand and material plannings, vendor management, and other initiatives. Moving on to overall results for the quarter, total volume and net sales value grew by 11.4% and 26.5% respectively year-over-year. Gross profit increased by 29.5%, which was boosted by year-over-year price increases across regions and a strong performance of premium brands, specifically tequila. In the U.S. and Canada regions, the markets have opened from restrictions and are producing normalized on-premise numbers. Product mix in the region favored tequila, specifically the super and ultra premium brands, with net sales value of the tequila portfolio up 30.3% compared to the first quarter of 2021. Results for Mexico for the quarter were very positive, driven in part by COVID restrictions being largely lifted and premium brands availability despite supply chain shortages. The rest of the world region has shown strong performance in the quarter. The overall positive results were driven by Europe returning to the bars, with on-premise consumption approaching pre-pandemic levels, and in particular, surging demand for tequila. In spite of the challenges we face this quarter, we were able to get our products into customers hands and prioritize high margin units. Looking forward, we see ourselves well positioned to continue benefiting from the growing premium tequila trend. Now let me turn the call over to Luis Felix to discuss our US and Canada results.