Operator

Good morning. We welcome you to the Navigator Company First Quarter 2026 Results Presentation. [Operator Instructions] I will now hand the conference over to Ana Canha. Please go ahead.

Ana Canha
Investor Relations Officer

Good afternoon, ladies and gentlemen. Thank you for joining us for the Navigator Company First Quarter Results Conference Call and Webcast. We are joined today by the following directors: Antonio Redondo, Fernando de Araújo and Joao Le. As usual, we will begin with a brief strategic overview, followed by a Q&A session. You can access the presentation using the links on our website, and we invite you to submit your questions through the webcast platform at any time. I will now hand over to Antonio to walk us through the key highlights for the quarter.

Antonio Redondo
CEO & Executive Director

Thank you for joining us again today. This quarter was defined by a particularly complex operating environment. We saw an increase of the global volatility driven by increased geopolitical tensions in the Middle East, compounded by very severe weather events in Portugal that led to temporary operational disruptions. However, despite these headwinds, Navigator's performance underscores the strength of our strategic diversification. Our focus on cost discipline and productivity remains consistent. And as we will see in today's presentation, our growth segments are providing vital balance to our portfolio. In a demanding market environment, Navigator demonstrated superior resilience, delivering results that once again surpassed those already reported by European pulp producers and global competitors in the paper, tissue