Cyrela Brazil Rlty S/Adr (CYRBY) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, ladies and gentlemen. Welcome to Cirela Brasil Realty's Essays, first quarter of 2025 earnings conference call. Today with us are Mr. Rafael Horn, CEO, and Mr. Miguel Mikkelberg, CFO and IRO. This call is being recorded and simultaneously translated. You can hear the translation by clicking the Interpretation button. To those hearing the English translation, you can mute the original audio by clicking Mute Original Audio. Also, you can find the slide deck in English on the company's Investor Relations website. at www.ri.cervela.com.br. During the company's presentation, all participants will be in a listen-only mode. After the presentation, we will hold a question and answer session. To ask a question, please click the Q&A button and enter your name and organization. When your name is called, a request will pop up on your screen to unmute your microphone before asking your question. We would like to inform you that any statements that may be made during the call related to Cirella's business perspectives, operating and financial targets are projections made by the company's management that may or may not occur. Investors should understand that political, macroeconomic and other operating factors may affect the future of the company and lead to results that differ materially from those expressed in such forward-looking statements. To open Sorella's 1Q25 earnings call, I'd like to turn the conference over to Mr. Rafael Horn, CEO. Mr. Horn, you may proceed. Good morning. We started 2025 amid global uncertainty. Recent geopolitical developments have added volatility to the international economic scenario. In Brazil, the context remains challenging with interest rates at a high restrictive level, requiring greater prudence and selectively. In this context, C...