Cyrela Brazil Rlty S/Adr (CYRBY) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, ladies and gentlemen. Welcome to Cirela Brazil Realty Essay's second quarter 2025 results conference call. With us today, we have Mr. Rafael Horn, CEO, and Mr. Miguel Mikkelberg, CFO and IRO. This call is being recorded and simultaneously translated into English. You can hear the translation by clicking the Interpretation button. To those listening to 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.sirela.com.wr. During the company's presentation, all participants will be in a listen-only mode. And 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 out, a request will pop up on your screen for you to unmute your microphone and ask your question. We'd 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 and forecasts made by the company's management that may or may not occur. Investors should understand the 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. And to start Cirella's second quarter 2025 earnings call, I'd like to turn it over to Mr. Raphael Horn, our CEO, who will now start the presentation. Mr. Horn, you may proceed, sir. Good morning, everyone. In the second quarter of 2025, Cirella demonstrated operational and financial resilience amid a complex and macroeconomic environment. An environment marked by the geopolitical developments...