Operator

Good morning, and welcome to Corporación América Airports' First Quarter 2026 Conference Call. A slide presentation accompanies today's webcast and is available in the Investor section of the company's website. [Operator Instructions]

At this time, I would like to turn the call over to Patricio Inaki Esnaola, Head of Investor Relations. Patricio, please go ahead.

Patricio Esnaola
Investor Relations Manager

Thank you. Good morning, everyone, and thank you for joining us today. Speaking during today's call will be Martin Eurnekian, our Chief Executive Officer; and Jorge Arruda, our Chief Financial Officer.

Before we proceed, I would like to make the following safe harbor statement. Today's call will contain forward-looking statements, and I refer you to the forward-looking statements section of our earnings release and recent filings with the SEC. We assume no obligation to update or revise any forward-looking statements to reflect new or changed events or circumstances.

Please note that throughout this call, all references to revenues, cost, adjusted EBITDA and margin will refer to figures excluding IFRIC 12. Also, all comparisons discussed are year-over-year unless otherwise noted.

I will now turn the call over to our CEO, Martin Eurnekian.

Martin Francisco Eurnekian
CEO & Director

Thank you, Inaki, and good morning to everyone joining us today. We started 2026 with a strong first quarter performance. Across the business, we saw solid traffic growth, continued revenue momentum, strong profitability and further strengthening of our balance sheet.

Passenger traffic increased