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

Good morning, and thank you for joining Beckley's second quarter unaudited 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 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 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 second quarter of 2025 is preliminary and is provided with 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' second quarter 2025 results. The global spirits landscape remained challenging throughout the first half of the year. Despite the more cautious consumer and volatile competitive landscape, the resilience of our core categories, particular premium tequila reinforces our confidence in the fundamental strength of our segment and our portfolio. Encouraging early signs of recovery in key markets alongside sustained demand for high quality authentic brands support a more constructive outlook ahead. During the quarter, we delivered EBTA margin, expansion, and healthy cash generation. While gross margin growth was modest, this reflected the impact of regional mix shifts within a changing market context. Overall, our financial performance puts us in a strong position to continue advancing our strategic agenda. As we move through the second half of the year, our focus remains on accelerating the U.S. region. capitalizing positive trends seen in Mexico and rebalancing shipments and depletions in rest of the world while protecting brand equity and building towards sustainable, profitable growth. Before I close, I'd like to extend our welcome to Mauricio Vergara, our new managing director for Proximo US and Canada. I'll now hand it over to him to share more detail on performance in that region.

Thank you, Juan, and good morning, everyone. It is an honor to address you today as a newly appointed managing director for Proximo in the US and Canada. Please note that the figures discussed in today's remarks are presented on a constant currency basis. In the second quarter, operations in the United States and Canada faced a complex and competitive environment. characterized by software consumer demand in several categories and heightened pricing pressures. Despite these challenges, our core portfolio remained resilient, with Tequila performing particularly well and small formats gaining momentum. Net sales value declined 9.9% compared to the same period in 2024, primarily due to a 7.1% decrease in shipments. This reflects continuous softness in our R2D category and increased pricing pressures across key categories. Shipments were further impacted by external retail limitations in Canada affecting select US-made products. However, a federal product mix led by tequila and whiskey helped partially offset the impact on net sales value. Depletions decreased by 9.3%, remaining relatively aligned with shipments following our efforts to optimize inventory levels. In terms of consumer takeaway, our performance remains stable across key segments. According to the last 13-week Nielsen data, ending in June 28, our spirits portfolio, excluding prepared cocktails, declined by 0.9%, outperforming the total industry, which saw a 2.5% decrease. Our total tequila business grew by 0.6%, further confirming its importance as a key driver for growth. We're also closely monitoring external factors, including inflation and trade policy. To date, no significant material regulatory changes have occurred and trade between the US and Mexico remains stable under the current frameworks. Looking ahead, we expect near-term volatility to persist in the US and Canada as the industry adjusts to ongoing challenges. That said, we remain focused on driving performance in our core categories advancing premiumization, and responding decisively to evolving consumer behavior. We are confident in our strategy, our brand, and our team's ability to adapt to market dynamics while strengthening our leadership and delivering sustainable long-term growth. I will now turn the call over to Olga Limon to discuss the results for Mexico and Latin America.