Vidrala Sa

Good morning, everyone, and thank you for taking the time to attend today's call. As previously announced, we published our 2026 first half results earlier this morning, together with a presentation that will support this conference call. We encourage you to access the webcast available through our website, or, alternatively, to have the presentation at hand. With that, I will now hand over to Iñigo.

Thank you, Unai. Before we start, let me briefly introduce Galo Alvarez, our Director of Sustainability and Corporate Development, who is joining this call as part of the evolution of our investor relations faction. Welcome, Galo. Please go ahead with your introduction.

Thank you, Iñigo. Let me start with a brief reminder of what Vidrala is today. We are a focused glass packaging multinational. clearly organized around three business units, Europe, UK and Ireland, and South America. We operate 12 sites, around 10 billion containers a year we are producing, and serve more than 1,600 customers, including leading global brands and key regional customers. We also combine that with strong sustainability credentials. Recycled glass represents 55% of our raw material mix and our CO2 intensity is 0.321 tons per ton of melted glass, 25% lower than 2019 and one of the lowest in the industry. Our three strategic pillars are customer, cost and capital and they reinforce each other. Our goal is to serve global customers and key regional accounts in the most competitive and sustainable way. Our industrial model and cost discipline allow us to meet their requirements at scale and sustain resilient margins and strong cash conversion. We allocate that cash with discipline, reinvesting through smarter CapEx designed to lower OpEx while also delivering sustainable shareholder returns. That reinvestment further strengthens our footprint and the value proposition we offer customers. Moving to slide four, let me translate our footprint into how the group is organized. Again, we have three clearly defined business units, Europe, UK and Ireland, and South America. Europe remains around half of the group sales and EBITDA. UK and Ireland business represents roughly one third of sales and one quarter of EBITDA. And South America already contributes almost a quarter of group EBITDA. We are now a more diversified group, but not a more complex one. Each business unit has a clear accountability close to customers and markets, but all three operate under the same industrial model. With that context, Unai will take you through the first half figures.