Ferrovial N.V. (FER) Q1 2026 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:04.217 Good morning or good afternoon, everyone. This is Silvia Reyes speaking, and I would 00:00:04.217 -- 00:00:08.342 like to thank you and welcome you to Provial's conference call to discuss the company's 00:00:08.342 -- 00:00:10.545 operating results for the first quarter of 2026. 00:00:10.545 -- 00:00:15.031 I am joined here today by our CFO, Ernesto Lopez-Mozo. 00:00:15.031 -- 00:00:21.319 Just as a reminder, both the results report and presentation were made available 00:00:21.319 -- 00:00:24.223 on our website yesterday evening after the U.S. 00:00:24.223 -- 00:00:29.751 market was closed. Separately, we note that the company's 2026 investor presentation 00:00:29.751 -- 00:00:35.041 on Factbook is expected to be available on the company's website shortly after this conference 00:00:35.041 -- 00:00:40.471 call concludes. At the end of the presentation today, there will be a Q&A session. 00:00:40.471 -- 00:00:43.315 You will have the opportunity to ask questions live. 00:00:43.315 -- 00:00:47.040 In order to do so, you will need to join the call through the conference call channel 00:00:47.040 -- 00:00:52.088 and press Start 5 on your phone keypad. If you prefer, you can send questions to the 00:00:52.088 -- 00:00:56.554 forum included in the webcast, and I will be reading them out loud at the end of the 00:00:56.554 -- 00:01:01.742 Q&A session. Before starting, please take a moment to look at the safe harbor statement 00:01:01.742 -- 00:01:05.908 included in the presentation, and please bear in mind that the presentation contains 00:01:05.908 -- 00:01:11.463 forward-looking statements and expectations that are subject to certain risks and uncertainties. 00:01:11.463 -- 00:01:16.791 so as our figures may differ. During this call, w...