Orbia Advance Corp Sab

Good morning and welcome to Orbea's third quarter 2023 earnings conference call. As we turn to slide one, all participants will be in listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star then 1 on your touch-tone phone. To withdraw your question, please press star then 2. Please note, this event is being recorded. I would now like to turn the conference over to Hrabdo Nozoya, Orbia's Investment Relations Director. Please go ahead, sir.

Thank you, operator. Good morning and welcome to Orbia's third quarter 2023 earnings conference call. We appreciate your time and participation today. Joining me today are Samir Baradwash, CEO, and Jim Kelly, CFO. Before we continue, a friendly reminder that some of our comments today will contain forward-looking statements based on our current view of our business and actual future results may differ materially. Today's call should be considered in conjunction with cautionary statements contained in our earnings release and in our most recent Bolsa Mexicana de Valores report. The company disclaims any obligation to update or revise any such forward-looking statement. Now, I would like to turn the call over to Samir. Samir?

Thank you, Gerardo, and good morning, everyone. I would like to start by acknowledging our colleagues in Precision Agriculture in Israel. Our thoughts are with you and with everyone impacted by the attacks and ensuing war in this very difficult time for your country. Our focus is to ensure safety of our colleagues and their families and to support them as needed. At Orbia, we continue to be united by our values and shared purpose to advance life around the world. I extend my thanks to all our employees for their steadfast dedication to our purpose and their commitment to one another, especially through challenging times such as these. Now moving on to slide three, I would like to share a high level overview of our performance from the third quarter of 2023. The third quarter was challenging as prolonged elevated global interest rates continue to affect the markets in which we operate. In addition, the slowdown in demand from the decline in industrial and construction activity in China led to increased global availability of exported PVC and other chemicals, depressing prices. As a result, we continued to see lower year-over-year profitability in polymer solutions and began to experience weaker markets in the third quarter in fluorinated solutions and connectivity solutions. These were partially offset by increased profitability in both building and infrastructure and precision agriculture. Quarterly revenues totaled $2 billion. down 14% year-over-year. EBITDA decreased by 16% to 320 million, with an EBITDA margin of 16.2%, approximately 50 basis points below the prior year. Finally, our operating cash flow was $218 million, down 3% from the prior year. Despite the ongoing weakness of the operating environment, we continue to believe in our long-term fundamentals and the resilience of our businesses over time. At this time, I will turn the call over to Jim to address our financial performance in further detail.