Cie Automotive Sa Ord (CUOTF) Q3 2025 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:02.514 Buenas tardes de nuevo. Good afternoon again. 00:00:02.514 -- 00:00:04.514 And 00:00:04.737 -- 00:00:09.844 welcome to the results for the third quarter of 2025, the SEER 00:00:09.844 -- 00:00:11.406 automotive. 00:00:11.406 -- 00:00:16.573 We have Lorea Aristizabal with us today. There will be questions at the end of the session, 00:00:16.573 -- 00:00:20.919 and questions can only be asked in writing via the webcast tool. 00:00:20.919 -- 00:00:24.854 And now I'll hand over to Lorea. Go ahead, please. 00:00:24.854 -- 00:00:29.341 Good afternoon, everyone. It seems there's been a problem with the microphones and we've 00:00:29.341 -- 00:00:31.364 received 300,000 00:00:31.364 -- 00:00:36.691 messages saying that you were hearing us. I hope we didn't say anything terrible. 00:00:36.691 -- 00:00:42.340 But good afternoon, everyone, and welcome to the CIE Automotive 2025 00:00:42.340 -- 00:00:47.628 Third Quarter Results Conference. But before moving on to the results, let's briefly 00:00:47.628 -- 00:00:51.053 review what's happened in the markets 00:00:51.053 -- 00:00:56.056 to put our performance into context. Starting with Europe, 00:00:56.056 -- 00:01:01.394 where production has grown by 1% in the quarter, although in the accumulated 00:01:01.394 -- 00:01:05.742 nine-month figure it's still below last year, 2%. 00:01:07.058 -- 00:01:11.866 News for the quarter in Europe. Well, in the trade area, we have to highlight the agreement 00:01:11.866 -- 00:01:16.874 reached on July 27th between the United States and Europe, which has 00:01:16.874 -- 00:01:22.043 somehow helped to ease tensions. An agreement that avoids the initially 00:01:22.043 -- 00:01:27.331 planned increase to 30% of the tariffs and establishes 00:01:27.331 -- 00:01:3...