Financial Data and Key Metrics Changes - The second quarter revenue totaled ARS $234 billion, reflecting a 13.8% year-on-year increase, partly due to the depreciation of the Mexican peso against other currencies [8][12] - At constant exchange rates, revenue increased by 7.9%, marking the strongest performance in over a year [9] - EBITDA was ARS 92.4 billion, up 11.2% in Mexican peso terms and 5.1% at constant exchange rates [11] - Net profit for the quarter was ARS 22.3 billion, equivalent to ARS 37 per share and ARS 38 per ADR [12] Business Line Data and Key Metrics Changes - The postpaid base increased by 6.8% year-on-year, while fixed broadband accesses grew by 4.5% [8] - Postpaid service revenue expanded by 9.5%, the best result in the prior year [9] - Prepaid revenue growth rebounded, driven by Mexico, with prepaid ARPU climbing 2.2% in the quarter [10] - Fixed line revenue from copper networks and petech increased significantly, with broadband revenue slightly decelerating to 8.2% [10] Market Data and Key Metrics Changes - The company added 2.9 million postpaid clients, with Brazil contributing 1.4 million [6] - In the prepaid segment, net disconnections totaled 1.1 million subscribers, with Brazil, Chile, and Central America each connecting approximately 500,000 clients [7] - The U.S. Dollar depreciated against most currencies in the region, impacting the company's financials [6] Company Strategy and Development Direction - The company is focusing on improving network quality and expanding coverage in Brazil, which has contributed to revenue growth [18] - The new telecommunications law in Mexico introduces regulatory changes that may impact operations, including increased fines and obligations for user identification [22][24] - The company aims to maintain its capital expenditure targets around ARS 6.7 billion to ARS 6.8 billion for the year [35] Management's Comments on Operating Environment and Future Outlook - Management noted significant uncertainty due to U.S. tariffs but indicated that the economic environment in Mexico is starting to improve [5][38] - The competitive landscape in Mexico remains aggressive, but the company believes it has a strong network and customer care to sustain growth [39] - Management expressed optimism about continued revenue growth in the broadband segment due to increased sales force and customer retention efforts [56] Other Important Information - The net debt to last twelve months EBITDA ratio stood at 1.36 times, reflecting a slight increase due to currency appreciation [13] - The company reported a decrease in labor obligations outflows compared to the previous year, with expectations of no major changes for the full year [42] Q&A Session Summary Question: Comments on Brazilian mobile environment and revenue drivers - Management highlighted strong postpaid growth in Brazil due to network quality improvements and successful sales strategies [17][18] Question: Regulatory changes in the Mexican telco framework - Management discussed the new telecommunications law, emphasizing increased fines and obligations for user identification [22][24] Question: Outlook for Mexico's economic activity and competitive environment - Management noted that competition remains similar to last year, with expectations of revenue rebound as the economy improves [38] Question: Labor obligations and outflows - Management indicated that labor obligations are paid from attention funds and out-of-pocket, with no major changes expected for the full year [42] Question: Changing competition in various markets - Management expressed hope for more rational competition as markets consolidate, particularly in Argentina and Colombia [43][44] Question: Comments on Bait's performance and market competition - Management noted improvements in their prepaid segment and emphasized the challenges faced by new entrants in maintaining subscriber bases [51][53] Question: Acceleration in broadband net adds in Mexico - Management attributed broadband growth to increased sales force and customer retention efforts, with a focus on delivering high-quality service [56] Question: Litigation provision in Colombia - Management confirmed that the provision relates to a content-related case affecting the entire industry, with payments scheduled until the end of the year [58][59]

Core Viewpoint - Itafos Inc. reported strong operational performance in Q1 2025, with production volumes exceeding prior year levels and a revenue growth of 6% year-over-year despite higher input costs [2][5][6]. Financial Performance - Q1 2025 revenues reached $135.7 million, up from $128.0 million in Q1 2024, while adjusted EBITDA was $39.3 million compared to $43.2 million in the previous year [7]. - Net income for Q1 2025 was $35.9 million, an increase from $23.7 million in Q1 2024, primarily due to a gain on the sale of the Araxá project [6][7]. - Free cash flow improved to $31.3 million in Q1 2025 from $17.7 million in Q1 2024 [7]. Operational Highlights - The company achieved a significant milestone by reducing net debt to below $0, with net debt recorded at $(1.7) million as of March 31, 2025 [4][18]. - The company maintained a net leverage ratio of (0.0)x, indicating strong financial health [7][18]. - The successful closure of the Araxa project sale resulted in a gain of $27.9 million [10]. Market Outlook - Phosphate pricing experienced a slight decrease in Q1 2025 but is expected to remain strong through 2025 due to strong global demand and limited supply from evolving tariff policies [11][16]. - The company anticipates sales volumes of 340-360 thousand tonnes of P2O5 for FY 2025, with corporate selling, general and administrative expenses projected between $17-20 million [14][13]. Mine Development - Progress continues on the mine life extension program at Husky 1 / North Dry Ridge, with first ore shipments expected in the second half of 2025 [3][21]. - The company is focused on resource evaluation and permitting at Conda, with an expected annual cost of approximately $6-8 million for exploration activities [21][25]. Recent Developments - The company declared a special dividend of C$0.05 per share following the successful sale of the Araxá project [15]. - The company reported strong environmental, health, and safety performance, with no reportable incidents in Q1 2025 [20].

Financial Performance - Sales from continuing operations for Q1 2025 were $131.7 million, a slight increase of 0.4% compared to $131.2 million in Q1 2024 [3][7] - Adjusted EBITDA decreased to $2.3 million, representing a margin of 1.7%, down from $4.9 million and a margin of 3.7% in the same period last year [3][9] - The net loss from continuing operations was $4.0 million, compared to a loss of $1.8 million in Q1 2024 [3][10] - Cash flow from operating activities decreased to $6.2 million from $11.7 million in the prior year [3][11] Financial Position - As of March 22, 2025, net debt was reduced to $47.1 million from $47.8 million at the end of 2024 [3][12] - The financial leverage ratio increased to 2.8x from 2.4x [3][4] - Working capital decreased to $45.8 million from $50.3 million at the end of the previous fiscal year, attributed to seasonal effects [11][12] Market Dynamics - The growth in purchasing volume with distribution clients is helping the company gain market share despite a slowdown in the restaurant industry [5] - The renewal of a supply agreement with an institutional client at lower margins than in 2024 is impacting financial performance [8][9] - Wholesale activities sales decreased by 3.8%, primarily due to the slowdown in the restaurant industry [8] Strategic Initiatives - The company announced an agreement to acquire the food distribution assets of Alimplus Inc. and its subsidiary Tout-Prêt Inc. for $51.5 million, pending closing conditions [7] - Management is focusing on sound financial management and aims to improve product and customer mix to mitigate the impact of lower-margin contracts [13]

First Quarter 2025 Earnings Call April 30, 2025 Forward-Looking Statements Certain statements contained in this presentation may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. This presentation may contain "forward-looking statements" with respect to our business, results of operations and financial condition, and our expectations or beliefs concerning future events and conditions. You can identify forward-looking statements because they con ...