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

Good morning and thank you for joining Beckley's first quarter on Audited Financial Results. 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 our use of terms and phrases such as anticipate, believe, could, estimate, expect, intend, and similar terms and phrases, and may include references to 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. Before we begin, we would like to remind you that the figures discussed in 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 2025 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 Beckles' CEO, Mr. Juan Domingo Beckman.

Good morning, everyone, and thank you for joining us today as we discuss Beckles' first quarter 2025 results. Before original directors and CFO discuss our results in detail, I'd like to share some perspective regarding the start of the year and our overall position as a company. As we enter 2025, we acknowledge a complex and challenging industry environment driven by uncertainty and cautious consumer behavior. Despite challenging dynamics, the resilience of our core categories, particularly tequila, gives us greater confidence in the stability and long-term attractiveness of our business. Our premiumization strategy remains central to our growth ambitions. We remain encouraged by consumer preferences that continue to lean towards high-quality authentic brands and sustain momentum in key growth areas like premium tequila. These trends align well with our portfolio strengths and position us to capitalize as markets gradually recover. Across regions, we continue to take disciplined approach protecting brand equity, optimizing execution, and prioritizing investments that will drive long-term value. From innovation and digital transformation to multicultural engagement and portfolio expansion, we're building the foundation for sustained profitable growth. We're also pleased to report strong financial performance and a healthy cash flow generation, which will continue to support our strategic investments. with a clear strategy, a strong brand portfolio, and an experienced leadership team. We remain confident in our ability to navigate near-term challenges while advancing our long-term goals and creating lasting value for stakeholders. Thank you. And with that, I'll turn over to Luis Felix to discuss our US and Canada results.

Thank you, Juan. And good morning, everyone. Before diving into our results, as previously announced, I will be retiring as managing director of Proximo US and Canada in July. It's been an incredible 25 years journey, and I want to sincerely thank Juan Domingo and the entire Beckler team for the partnership and the support. I'm also pleased to welcome Mauricio Vergara as my successor. Mauricio brings extensive global leadership experience from Brown Foreman, Femme Sabir, and most recently as President and COO of Patron and other brands at Bacardi. I'm confident that he will lead Proximo into the next chapter of growth. Now, turning to our first quarter results. Please note that the figures shared in today's remark are expressed on a dollar basis. Net sales value was flat year over year, primarily due to favorable product mix, as growth in premium tequila helped offset continuous softness in the RTD business. In the face of the heightened promotional activity, we maintain a disciplined pricing strategy, balancing near-term competitiveness with long-term brand equity. Shipments declined 3.6% while depletions fell 5.7%. The decline in shipments was largely due to a tough comparison against the prior year, which saw a growth of 4.8%. However, excluding RTDs and non-alcoholic products, shipments increased by 2.7%, highlighting the drag these categories had on our consolidated performance. And currently, our core tequila business delivers solid growth in both shipments and depletions. Consumer takeaway trends remain generally positive according to the latest 13-week Nielsen data. When excluding RTDs and non-alcoholic segments, our spirits portfolio grew 1.2%, outperforming the total industry, which declined 1.8%. Overall, our total spirits business was flat slightly ahead of the broader spirits market, which declined by 0.1%. Looking ahead, we expect to face continued challenges, including competitive pricing and potential U.S. inflation pressures from tariff increases of many imported goods. That said, we are pleased that tariffs uncertainty of Mexico appears to be easing. with the US government confirming that USMCA-compliant goods, including our tequila export from Mexico, are for now exempt for these tariffs. We recognize this is an evolving situation and will continue to monitor it closely. At the same time, we remain confident in the long-term fundamentals of the US spirits business, supported by several positive trends, including continued growth in the tequila category, Communization and consumer trade-off behavior continues to shape the category growth, particularly in tequila and American whiskey, where demand for high-quality, authentic brands remains strong. Our TVs also remain as a resilient growth engine, especially among younger, convenience-driven consumers. In response, we're investing in innovation and enhancing our digital and e-commerce capabilities to meet consumers where they are. Additionally, we are placing strong focus on engaging multicultural audiences whose growing influence is redefining the future of the industry. These trends, combined with our clear strategy and discipline execution, position us well to capture future opportunities and deliver sustainable long-term growth. I will now turn the call over to Olga Limón to discuss the Mexico and Latin America results.