Tecnicas Reunidas Sa Ord

Good afternoon, everyone, and welcome to TR's first half 2026 results presentation. It's going to be conducted, as usual, by our chairman, Juan Yadó, and our CEO, Eduardo San Miguel. It's going to last approximately 25 minutes, and you will be able to post your questions after the final remarks. Now I leave the floor to our chairman, Juan Yadó.

Thank you, thank you very much, Antonio, and good afternoon to everyone. It is a pleasure to have you all here and being able to start with this very important, you know, second quarter presentation. Allow me now to quickly walk you through today's agenda. I will start, as most of the time, with the main highlights for these first six months, and then I'll walk you through Two very important awards have taken place this last quarter. Eduardo then will step in to talk about our company, TS Power, and its remarkable first step in our North American momentum, which is very important, our services, safety utilizations, IE, and robotics. I will finally close with some remarks. and our guidance. So let me start with the key highlights. And in this case, the key highlight, I guess the most important one is this segment for performance. And I like to be very brief. I mean, the important number here is 73. 73 EBITS signifies a 5% oversell. A decent level of sales of $1,478,000 and a net cash of $344,000. And very important here, zero provisions. So this is the important message here. The fact that we have a decent cash, no provisions, and at decent levels of sales also shows how the Middle East Projects are moving and progressively moving back to normal. But if we want to analyze the full semester, both quarters, it has to be compared with the same period last year. And now what you see that sales semester against semester have grown by 12%. Andres Alonso-Muñoyerro Andres Alonso-Muñoyerro Finally, some messages that goes together with the numbers. Middle East execution is moving to normal.

That's one message.