Orbia Advance Corp Sab

Welcome to the Orbia fourth quarter 2023 earnings results conference call. 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 one on your touch tone phone. To withdraw your question, please press star then two. Please note this event is being recorded. I would now like to turn the conference over to Diego Achave, Vice President of Investor Relations. Please go ahead.

Thank you, Operator. Good morning and welcome to Orbia's fourth quarter and full year 2023 earnings call. We appreciate your time and participation today. Joining me today are Samir Baradouache, 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 statements. Now, I would like to turn the call over to Samir.

Thank you, Diego, and good morning, everyone. Before we begin, I would like to welcome Diego, who recently joined Orbia as Vice President, Investor Relations. Diego served as Corporate Director of Business Development at Caloos, Orbia's largest shareholder for eight years. Previously, he held positions in banking mostly dedicated to M&A advisory. Diego will lead the investor relations team where he will continue to cultivate strong relationships with the global investment community. Now, I would like to take the opportunity to thank all our employees for their unwavering commitment to our shared purpose to advance life around the world. Through innovation and collective focus amidst a dynamic operating environment, we continue to develop products and solutions that address the world's toughest challenges while also demonstrating the resilience of our operating results through economic cycles. Now moving on to slide three, I will share a high level overview of our fourth quarter and full year 2023 performance. For the full year, Revenues of $8.2 billion decreased 15% and EBITDA of $1.46 billion decreased 24% compared to the previous year. Overall, our performance during the year was impacted by persistent high interest rates around the world, which affected demand for our products in key markets we serve, predominantly in global construction and infrastructure. In addition, the weakness of these markets in China led to significant PVC exports, which impacted global PVC prices. Finally, an uncertain geopolitical environment caused by the conflicts in Eastern Europe and the Middle East led to reductions in demand in certain regions. Despite these challenges, we maintained or improved market positions across our businesses, generated strong operating cash flows, kept a healthy balance sheet, and continued driving cross-business integration. We demonstrated our commitment and belief in the long-term fundamentals of our strategy. As an example, we advanced important growth projects, including the PVDF joint venture with ScienceCo, formerly Solvay, and the technology licensing agreement with Kanto Denka Kogyo for LIPF6 production. We also continued focused capacity expansions efficiency improvement projects including plant optimization and the launch of innovative new products across our global operations to drive organic growth. I will now turn the call over to Jim to go over our financial performance in further detail before we can address our outlook for the year.