Ferrovial N.V. (FER) Q3 2025 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:03.857 Good afternoon, everybody. This is Silvia Ruiz speaking, and I would like to welcome 00:00:03.857 -- 00:00:08.304 you to FROEAL's conference call to discuss the financial results for the third quarter 00:00:08.304 -- 00:00:13.753 of 2025. I'm joined here today by your CFO, Ernesto López-Mozo. 00:00:13.753 -- 00:00:18.201 Just as a reminder, both the results report and the presentation are available on our 00:00:18.201 -- 00:00:20.985 website since yesterday evening after the U.S. 00:00:20.985 -- 00:00:26.288 market was closed. At the end of the presentation, there will be a Q&A session. 00:00:26.288 -- 00:00:30.679 As in previous calls, you have the opportunity to ask questions live. 00:00:30.679 -- 00:00:34.348 For that, you will need to join the call through the conference call channel and press 00:00:34.348 -- 00:00:39.261 star 5 on your phone keypad. If you prefer, you can send them through the forum included 00:00:39.261 -- 00:00:43.855 in the webcast and I will be reading them out loud at the end of the Q&A session. 00:00:43.855 -- 00:00:48.200 Before starting, please take a moment to look at the safe harbor statement included in 00:00:48.200 -- 00:00:52.124 the presentation and please bear in mind that the presentation contains forward-looking 00:00:52.124 -- 00:00:57.190 statements and expectations that are subject to certain risks and uncertainties, so 00:00:57.190 -- 00:00:59.813 actual figures may differ. 00:00:59.813 -- 00:01:03.918 Other than as required by law, the company assumes no obligation to update forward-looking 00:01:03.918 -- 00:01:09.264 statements. During this call, we will discuss non-IFRS financial measures which are defined 00:01:09.264 -- 00:01:14.095 and reconciled to the most comparable IFRS measures...