Tecnicas Reunidas Sa Ord

I now leave the floor to our chairman, Juan Eduardo. JUAN EDUARDO GUZMAN- Hi. Hello, everyone. You know, today, Eduardo and myself, as usually, you know, we'll walk you through this presentation. First of all, I'll go through the main highlights of this first semester of 2024. And these highlights will include our main economic figures for the period, and very important, our strategic pillars for the upcoming years. In fact, a quick review of our SALTA strategy that we had celebrated a few weeks ago in Abu Dhabi. And then afterwards, Eduardo will follow up with our business performance during this first half of the year. which would include the commercial achievements as well, as always, of financial results for the period. And then, as usual as well, I will wrap up with our guidance for the year 2024 and how I see or how we see the upcoming semester. So this is just the main highlights for the period. As I said before, and you all know, TR held its Capital Markets Day in Abu Dhabi, where we share our new strategy for the upcoming years that we have called SALTA. SALTA is the path set by TR to achieve our new medium and long-term financial goals. Financial goals that I like to start with a number, which imply doubling to 8% our 2028 operating margins. And to achieve this goal, our Southeast strategy is based in seven very important pillars, seven key pillars that I do believe is important enough that I'll walk you through now in this webcast.

The first one is service contract.

And it is the creation, it's a very specific unit to boost our engineering and project management service Our engineering business is already very good. Our customers call us and hire us to deliver and to service them the quality of engineering that we do for our own EPC project, Constructible Process Engineering. So now we're focusing on the business units to deliver that engineering to them. together with all those fit and competitive fits that are multiplying every month, as you have noticed. The second pillar, extremely important, and is very linked to the first one, is North America. We are already expanding our presence in the region and capturing the potential of the local market. The market there is booming. And we will leverage our Houston office, that we are already there, The strength in our relationship of our customers today and the new customers that you have seen, they are awarding jobs already. And the third one, and very much linked to the number one and two, decarbonization. With a very special focus on what we're very good at. You have to remember that we're a process engineering company, so we focus on hydrogen and its derivatives. Carbon capture, we are already, you know, delivering jobs to our main customers. Sustainable fuels, you have already seen that we work in other jobs on front-end design and detailed design. And decarbonization of other industries that we have already announced that we work in, especially in the steel industry in the main plants in Europe. Having these three very important key pillars means that we abandon an EPC? The answer is no. The answer is we are, in our strategy, strengthening our local presence, not only in the U.S., which is very much focused on services and deep communications, but in Europe and in the Middle East. We have to be closer, and we organize ourselves to be much closer to our customers, and we organize ourselves in execution units. We're not abandoning EPC. We're improving our EPC capacities, and we're improving our EPC capacities with a fifth pillar here that is very important, the stress. And the first example is with alliances with the best partners. And that implies our alliance with SinoPAC. You have seen already that since we announced our strategy and our alliances, we have already been awarded two very big jobs, two very important jobs. That means the risking and best managing our business and continue with our EPC business in a better way, in a better de-risk way with a strong alliance. If you have seen us with the strong alliances in Abu Dhabi, you have seen it with the strong alliances in Poland, you have seen it with the strong alliances with Sanotech in Abu Dhabi, I'm sorry, in Saudi Arabia with Aramco.