Q1 2020 Earnings Call
[music].
Good day, ladies and gentlemen, and welcome to and then she loved ones Q2 thousand 20 with conference call. My name is Gigi and I'll be your operator for today question will be taken through the webcast chat. This call is made for investors and financial analysts and the press is not allowed to ask question.
During this conference call, we may make statements that constitute forward looking statements within the meaning of the private Securities Litigation Reform Act of 1995, such forward looking statements reflect all your current expectation are not guarantees of future performance and involve risks and uncertainties actual results may differ materially from those anticipated in the.
Forward looking statements as a result of various factors. These factors are described in the no change. This press release reporting its one Q2 thousand 20 was all the presentation accompanying this conference call and an end to end. This annual report on form 20-F, including under risk factors you may access or one Q2 thousand 20 results press release.
Station on our website www dot and now Dot CEO and our 20-F on the Fccs website Www Dot F 18, Daqo readers are cautioned not to place undue reliance on these forward looking statement, which may speak only as of their dates and they'll choose it undertakes no obligation to update before.
We're looking statement or to disclose any development as a result, which is forward looking statements become inaccurate, except as required by law.
When I like to turn the presentation over to Mrs. Isabella Glenn head of Investor Relations of another cheating. Please proceed.
Good morning, My friend of mine and welcome to announce she first for 2020 results presentation. I Hope you weren't I'll say in your home and not totally older required taken major not to really do custom required or no I am not they like maybe.
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The presentation will be hosting <unk> do you ever see it's cool knocking off these events we have not.
Appropriate for innovation made here, we are all connected to our home pardon he'd be to wash. It often previously sunnyside located in our corporate beauty get one that is being pretty hot sounds Lady I using on that.
When he might come on space and also due to separate we will bring with them and <unk> and I look these are Oh I'm not afraid younger global situation that New York City. We will then walk you through our financial results and now operation performance.
They usually Randy section Ruffolo leaves no flashes do we received only hear chat available in our wax care not under Dr. doctors, daughter, and now docs, Yeah, I think investor section at any time during our presentation. You can serve meet your question just some extra lean characters.
Top off the webcast. Please ask your question.
After this call once you get an eight hour on your T., we continue to be available to Bruce did with you any detailed information you meet with respect to figures included in this presentation. Thank you all for your prison and now let me handle over too difficult to just be.
And then though.
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There's about my me screen, but find ourselves.
But then there won't be spacing warm the biggest crosby's remember.
Immediately after the first solar Cobiz on baby.
Big them they bid on stage, so let me be spring majors, but there has been about what everybody.
We should begin to do you need people work there.
Thanks for letting but maybe.
He didn't show we have the battle.
Cool, but there's been able to ensure our business indeed.
The last year, we have been promoting a remote won't be missed the multitude by adopting you'll see some underground.
We have been able to reach immediately to walk away more.
Fishing and big.
Yes, I read there to be on our generation and mental <unk>, oh equal, but even though.
We have been speaking pedal median marine reais in order to protect our people and got them being that our that'd be a police debatable.
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You bet I will be visible they love them and sick when he left them. So.
Got it golden them among that they'll be wasted energy there was a walk or do we differ please.
Bodies in compliance.
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This call trend I want to go to school me spend we don't want both <unk>.
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So on January beer.
You bet included for the first time in dental medical some your book receiving builds CLO distinction between sort of like Cellwerks don't come metering boardwalk sentiment Jesus moment.
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As I know you'd be looking and succeed by won't I misspoke Similarly to the different brands. They trade agreements that we read on metals and it doesn't mean dividend amounting to one qualys Ccs leap.
That's true then, but it's a child.
And so you know they play that 60 bucks and be out on that before it's been gum, it's moving into one thing because they shouldn't but.
These easy clear demonstration oval all work on me, but with our children and what you just yet.
Oh please.
I mean Cmos raised internet right our lead we didn't put together so it will be shown to be these goals.
[noise] first of all let me start by thinking goal our people for their incredible cozy production and thrown KMI menthol baseball needs to be school being is right now beach.
Isn't DC Basie Maree getting booked a major you know to complete described.
We are constantly monique, putting the information calls and coffee beans.
Thinking, but I mean can tomatoes, and all the Mississippi action as a matter of South Korea create.
Equally between the Revpas ends up being so different tidy up on the phone, but he's gonna line. This he believes should only be based the baby into quotas. They need all that acquired picture remains busy.
They aim is to ensure that and basically all of our style why he's got on things that convenient b of the said before we put a lot.
Yeah, the Mississippi, you didn't get the remote working for all.
Absolutely.
Well, they almost one or the substance of our personal loan.
The can walk ray mostly of doing so.
Them. Some focus he goes is off to yesterday. They mean suffice it seems to have a whole lot globally, we are working from home.
The ones that needs to be Noah PV did you have reduced the number of people brazen.
The physical interaction I mean, I mean people work place any deviation become teams check compared to some of them.
And they use all that before we see picky.
Crucial DB seems like with gold falling Blaine Botch, Oh, we did threem bixby majors.
In these exceptional situation with temporary close I Wasnt sure Commission, PD and improving or the same time I'll be he's done an online.
We are going to obtain but are we still ended that Hussein chalmette the reading in order to reduce weve bought I want to liquidate those same customer.
Finally, NN group I don't know.
In the insurance policies to call that the groups all that.
2000 water widening we you know them all so speed that he'd be sure if they come from the Corvisa maybe bikes.
Solution like is that first be shouldn't during the war games to gun things should fall the global today.
But the cabin funding.
There's a company that provides an essential services and then she ended up being all necessary measures to book because the most vulnerable glargine local news now on page three.
Well, she's getting them into what I mentioned before on distribution business. We are also providing initial client support by telephone online and.
Our client I mean by people use that about digital platform, that's ever been and though diminish that means into good old information they need.
Okay.
Let me highlight dates on March 31st stuff, we have reached the amount of 292000 fly them that said downloaded our.
Designed exclusively to cope with our clients need.
The same among the first six inside the things of the same into where it falls by via digital terminal.
These that up as Anthony Boston Girls, when we compared to 51%, which is on March 31st 2000 Indeed.
And then additional should booked out what flying during the images field, we are opening especially payments filling in for a lot of most vulnerable clients, we know interest will be.
That we'd be no power costs into even though.
This come they use client due to the no payment, though will it be.
Yeah, I don't think reducing fishermen are reading program. She bought a small business that the where pools to close or two disease that operation.
We know.
The data consumption on this time, maybe differing.
Compared with the big or small.
Last week, we launch.
Campaign called Calder called off the books was able to support local communities close to about a BBB and the most vulnerable possible bubbles danger again.
We'll be the funding we you Trinity.
Syndication.
Our first big nature of majors include bid on eastern all.
The first 100, lasik, what else could actually never reticles as well as well dilution to other public school system and in Boston that we'd be use as immobile level that three to they usually when we used to that that's all it though.
Let me now, but as they do this financial highlights for the said well start to 27 homes glide side.
I want to deductibles. These the 243 million dollar. The first you 20, Danny and they got the violence or $37 million when we come Terry March 31st 2000, they deem figures.
There's been adjusted by the EPA early termination book.
The idea of 151 dollar.
[noise] real 15, gummies, 23% lower than Institute it doesn't mean being adjusted she goes mainly by the lower if he does though.
Hi, your differentiation in our distribution business due to the last year investment.
Accelerated depreciation at the top of out because when you're Vishal proud digi and partially offset by lower financial plan does that resolved. So the liability manager executed in the second quarter 2019.
Hi, Watsco topic Someones, we've built 100 and spending in minimum dollar 65, but thinking not yet are you had been previously as well.
Focus on our that that moves vishal stoppages, and digitalization of our distribution business and you can make sure.
That's a sale decreased.
Okay, and 7% or one of them [laughter].
And then opinion I'm going down mainly due to already make some impact on indeed.
In the topic developing 2018, those payments were made in keeping.
Oh, I mean that seem to be using cleats, and 122 million dollar mainly due to higher yet topics Atlantic seems to be done much to anything in the interim dividend.
The 200, and then getting this out.
Which web based in January.
Let me give you more became the following block.
Let's don't develop deeper and deeper view on company financial [noise].
Starting with our topic seems like peaks.
I want to stop our topic some one on the insulin de Minimis <unk> dollar.
65% five year than previous year focus on us at the battle.
This quarter, our development topic reached 91 million dollar mainly located in the old bringing on board.
As part of our the cannibalization strategy, which recorded 83 million, though and own digitalization, along with the he's bringing two of operational flexibility.
On our renewable but I'll just go seeding the covenant restrictions due to the compete but then we have been reviewing the logistic in both backstrom blame taking into account. The additional 50 stand up you know there to keep up the development and construction of our older homes.
From our topic topic.
Oh, Thanks, Sheila we have the flowing around things like saying in the first Q2 anything as the space. The remaining meant that the standalone accept that wouldn't be concentrated in the third or two.
Being it [laughter], 22%, they're located in the state from June 37 in the third June 30% Synchronoss Boston beer.
During the first quarter in any almost 95 a thin.
Of our best friends was allocated to achieve that as the GE targets that and as you get ahead committee.
Let's start or would they be doubling down on slide seven.
Basic and seeing the drop because in the first through 2018 and in Sheila has the nonrecurring like Oh, My God being the enemy, they mitrano BP agreements, which amounted to 151 million dollar.
Excluding the effect, how about adjusted EBITDA decreased maybe 15% or.
$37 million really you know visa donation EUV tool.
And lower hydro generation as a consequence, although this has been affected the town green amounting and they got to be impactful 10 million, though.
Mitch commodity coverage is doing that said and negatively affect you know whether it be done due to the dropping the Michelin right inside that broke down and they got the deemed though on the settlement of our interest coverage of $25 million.
Actually offset by 9 million dollar savings on commodity may need to lower prices.
Sales of two as.
In G. cargos. The first two 2000 emptiness that wasn't the securities easier.
Due to lower price.
They commodity seemed information on market. We then impact those thing to me.
These effects, but when I mean, [noise] offset by higher <unk> Fridays, mainly due to the indexation of calling doesn't buy cpis and dollar partially offset by negative effect on the elite stability shortly.
Yes.
Now let me go deeper on Junisha, leaving it moving to slide eight, but I will present, our PPI it's either.
The net production decreased two things first frames the amounting to 4.8 said about power driven by mango Cedar 0.5, instead of power of lower settlement production.
Mainly in our Lockups five planes due to the closure dr. backup power play into that 31st leasing, but it does anything indeed, some of the lowest system that marginal cost in our from axiom flattish.
And their language zero come to that dialogue or lower origination our ideal power flame Westlake seem that but also.
We can also see these trends of lower doors movies in distributor pizza as usual.
And the right.
Can you provide [noise].
And then so about what image Banno will remain at spot, but you never get to that Bob to see some onetime about right in the first 222 any about himself zero point, you see that ever thought about a basis person who doesn't mean teams.
This is mainly explained by lower could only be no mention of course in this season as we are showing the Rightside goes is like.
The lower to see something on cost.
Turning from that.
Okay, and then that's probably got a D.
New transmission line poorly operational stopping from June two doesn't mean in and renewable developing to calibrate explain how one production stoppages for discourse that equilibrium in the month of January in favor.
Our physical energy is almost in line with 2019 things to the five that we were able to secure new clients on the CE Mark the balances is that Spain as they call it.
I don't see look inside that about dialogue or lower consumption of the solution company mainly to see.
Because it's a management over the last three P.H., we raised in the men in June in.
Two founding deep ocean, partially offset by zero for imports that are out of idea T map. It seems as the top of our strategy to capture new clients and they while that racism integrated to the same market.
His line nine.
We haven't found many of the fed for most of our generation visa, including and then.
And then I see honesty entering problem.
Oh International May be that I have already gets you a tool than anybody in the baby's life was I would like to the call. You is that we have produced T.C., but saying so our innovation.
Renewables foresee type of thing I, yet when we compare it similar theories out.
Is that it's out of the raising mentioned and I mean, our generation to be done not you know beach 41, but same thing that for two point between despite lower annual production contribution.
And it got one thing I meant installed capacity.
Despite the sustained sabala capacity based on renewals or so.
This is part of our stuff that you plan to increase but isn't [noise].
Oh Preadmission journey as shown by closing the how what's called a P. Diddy, which was the kids of all of course easy to Africa.
All schools in criticized December last year, and adding new.
Renewables.
Let me explain the most right on the operating.
Obama distribution.
[noise] analytics leasing.
Yeah, you're right [noise].
I'm a thing.
We have been about creating the role of copper instead to change opening up new business opportunities that as being captured by Uh Huh.
Oh today, so we have secured new contact from public lightening cost them, where we will change the lapping that stuff structure, but led loans, which really bringing in more efficiencies than to the local movies the body.
From the digitalization allow them to move from visa.
Thinking major them income team.
Working on the quality of our babies.
We have reached 1002 R&D these better control. It keeps me installation you know what agreed.
In the next two yeah, we are putting installed.
And then it defies conventional unit.
Please.
Let's move now to slide 11.
Strain demo for the elements operation.
So about one nice work and analytics Lisa.
As of March 2020, they'd be Taliban and due to the soon and then it I had a mine ore body.
When we compare to the theater result, mainly due to.
No, it's not likely called out being at $1.9 million.
Got it indexation dollar totaling a 1 million dollar offset by a $1.4 million income from 26, and it's because the Olympic Basi Regis that company team that stuff they feel free.
The public that's what they should system in general yes.
And fire losses simply due to the logistically connections to the softener racing. She did you mean, the first UK anything any.
Oh $1.6 million as you can also seek to right size of is like.
I mean CPI.
Our customer base increased by 45000 clients when we compare the first quarter of two any training with the last year. She good.
Reaching one point 90 million of clients.
Oh sort of slate.
The increase on the energy dispute.
Oh, the vehicle ones that have power that reached 4.3 hour this quarter.
Following logistics with production coming from the social unrest and lastly from the convenience situation our international in that they had an increase of corporate fans in the press for the two anything competitor less the evidence.
Using that they remain being a group benchmark locker on that meant that we call team to focus on critical Hot Air Force. So you didn't see replacing approximately 52, you know my sense of cable in our location, Greece and executing them all of them stemming from is that all major thing.
From there or indeed, the expansion reinforcement in this quarter.
So then if you lost it increased 42 beats, reaching five point any type of thing do [noise].
To a lower pivotal studies station this season.
Well that don't did you notice to saved up the safety of our Walker.
Yes.
Now.
All right well, let's go to the main driver about about me or doing anything.
As already mentioned before the 2019 and get that to the P. Eight early termination.
Depreciation and amortization of reached $76 million related to the higher depreciation of the solution business due to hiring they seem to love yen and new calculation of the use from Nypro book, I mean to stopped of our because somebody vishal throttling, partially compensated by the closure or thought about.
On Thursday December yeah.
The impairments embed that increased $4 million, mainly in our commercial visa.
Is that it does have the social unrest in the comps.
Financial results and another among the 20 fans, so 32 million dollar and degrees outside minimum dollar mainly due to the foreign currency exchange rate up and finishing the first two plenty play and the lower average Kosovo one day due to the negotiation on EGPC activity.
Income taxes and minority do reflect may need to be successful now.
As a consequence of old double the Oregon for you to need spinning it income reached.
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Medium dollar decrease in assisting them and when you compare to first Q2 neimans being the first few tuned into any income compared with adjusted net income by disappear in the diminish or would that create.
[laughter].
[music].
Let me now both through our they don't like the team.
I want to drop that increased by 585 million dollar basis December 2018 amounting.
To four point.
In $10 billion industries training, mainly due to Dan and she new fans are with aging.
The average costs, our that's the world. This was reduced from 5.2% in December it doesn't seem to 12.7.
And though [noise].
Last 2020, showing an important improvements in our financial condition as dumb it down some of our constant as supposed to optimize our financially.
The average thing.
Although our loan.
It's almost 77 year.
Our SSL reached 70.
And 57 million dollar also like like energy somebody station make any bulk up with some young dollar.
And the topics that are up in 2019.
And it goes payment was made into anything problem in bed.
The last between when it comes back in December.
Joining me in increased one on the clinical though.
Finally on our debt amortization on slide 14.
The lights highlight that with our liquidity position of.
We are able to finance our topic lane.
Spectacle mix going into our should all that is paid possible worsening in Chicago in account.
On a lot of decimalisation within our average of 21 that I get the $1 million to anything in the next three Oh.
Our liquidity Hello out to support them actually took over many years <unk>.
[noise] before trapped in the two in his section I would like to mention some rather than they do waves on slide 15.
This is rob contingency.
We have taken action timely and product even since the first thing in order to protect the health of our people support our flying in community into Ganzi business continued.
We ought to continuously monique, putting the evolution of the situation in order to quickly react.
And the same time pertaining to meet them claim to keep our company and the best efficient like.
Digitalization is key to support this contingent stadium and we believe that we should take beautiful to maybe to follow in shaping your EBITA of our client.
Sustainability continues to be the sea level of out of these smaller which had cope with any decent system.
Option.
And to maintain our strategy over the medium long time. They this despite covering.
To conclude.
I would like to enforce that today, we allocated into that feel a whole lot to cope with these global compete.
Thank you for your attention, let's now open they finished section or Willenborg feasible.
Thank you just lastly, as we haven't if they should anticipate it is occasionally received questions yet shack in our webcast. So I really Soc switch power.
Well action from from what do you know Jean Yves, sometimes in the first question is it fairly clear P. D market sales tweet Aarding day 38.6 year over year retraction in operation cash flow, how much that wasn't affected by this capitalization, making.
Okay, and how much for low at collections is that any are they ran Atlantic Sac. In fact, you know they maybe say m. instances line.
It's girl, 10% year over year. Your second question from really I had garden generation I.
There are ways to mitigate the she is that coming out one in Q4 and available what what gives you to up like so frames that hi comes back and get computing places I think.
Thank you Isabella.
Okay, well go spend the et cetera.
And to say that stuff.
The main balances in comparison will be the 2000, and Danny coming from up and maybe down the reduction.
And the topic executed in 2018 that there's been paid into anything.
On top of de Sal I was glad to remember that the [laughter] D.C.L., we paid a in high end amount being themselves that he'd Nazis in comparison with the fear.
Roughly 25 million dollar.
I.
Going and we don't see any major impact in combated, though.
No we the last year, but what's going to send somebody Vishal make me.
Neither for lots consent they collection.
I believe in March 2000 paid.
But what concern that bocamina running too.
Well [laughter].
As you May know via the ER he had to shut down about both plaintiff that being beach on a lump that started in one of the mission line that walsum owned by a lot from them at the top themselves.
We truly believe that you thought this as no propstream considering that we are fully committed and.
Committed in seems that 2018, and then generation has been working with the 1270 caught on his family topline international found them.
To the reset them in.
Process already carry out.
We have the installed the creeping down.
Okay Fine indulging TBD based on that or do you still stand up.
M.D., Tennessee.
In agreements signed or anything that high there in this process some either have.
Kids, who owns in their money monetary compensation ambition toward their radio thing so.
Yes.
The situation as of today.
Uh huh.
Thank you to traffic we have now my second question coming from have you actually body Salamanca plant actually ask you flashes. Okay. The first one is can you help turn they send they reviewed by its EXL has decreased slightly to name a first why didn't I think we have like answer.
But if she wants you to also.
Anything you want their information and then last one films.
Yes, exactly that doesn't get company feels any shacey teach you revised don't want to exceed latest guidance. Thank you have yet businesses.
Okay. I believe you that push buttons on this I saw that I have already you know I'm, sorry, again Uh huh.
The main balances are they ended up in the capex exceeded the into doesn't mean being which had the revolving 2020.
[noise] Watsco said the guidance.
You know the truth is that it's up to be.
We do see.
And.
We do see a major impacting things so Bob.
Who've either.
And it's really hard to believe that we're not able to critical of the delta.
The situation, so frankly speaking as of today.
I'm not gonna position to see whether you're going I had a different.
No.
So I would go from together.
Okay. Thank you Jackie well, we have fine now a question channels have become what else I don't need them.
The first slashing Schoenberg Eagle.
It's a tough out there for tickets connection off book I mean, I understand excellence now so I'm just from that she is my even now.
And that second class sharing and if you can he doesn't want to get sales about saving able strategy. If you need for de here that was included in Japan in that business that plan from the company. That's lots of presenting 10 last December last year.
And Dan.
We had last 30 flash sharing a stronger getting too.
If we can he says more details about the supply contract and if we sign Asia Domenico Ghilotti, Alaska and our it's had.
Thank you how do you prefer our plant in outages that came in handy.
Okay, but what concerns the topic so [noise].
And despite of the information on situation now we can come from Oh.
Our.
Blame them.
And as a matter, but to be [laughter], we found a way not the two or two to keep on trapping locked in our contacts from.
So.
Except for you know two weeks that can can do recover I as they come family our plans for 2020.
ER regarding yet and that supply contract so.
They are indeed in.
The first book them.
You mistake on this that winds down.
Sure. Good then it would give you said around though.
But on the vendor so most phone will answer.
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Yes.
Yeah, Okay now though.
This isn't about the real volume for.
Cinemark Dahua you know the cone club that ER, and indeed, oh, the with the regulators or when we de dissolution assays and man.
These amounts are all of our that is being compensated by day.
You do see booth, we didn't do combed early different pockets.
No.
Okay. Thank you aren't is that we have a new check here I'm not their question now strong absolute off from what do you watch Unsullied Huh Hi, everyone. My question is regarding two and now he didn't happen occasionally find out we file where if we see this season.
So sales.
Between both companies. He PICC line is almost 24 cents.
However, there so it's tough for his car.
Remain the same thinking soldiers. After he exact question thinking what sort of for your questions I'm happy to announce to you didn't actually.
Yeah.
So basically [laughter] mm.
Yes. Good question, let me first.
[laughter].
Yeah defend this okay.
The good thing okay.
Right so.
His question he got into and now we get asked young for kids Swift and that means Howard if he plays out we both company we see this easy comp sales between both companies declined almost 20%.
However, this also sport chek costs remain the same thing in that period when they come back so between first formally Andy here with first quarter, let's see here. So these ones that question from like to them what do outcome. So it's kinda asset management.
But excuse seen this slide eight though in the presentation on when we compare your own or picture of all in cheating.
It's it's clear that that [laughter].
The reduction in the pullback no.
He is coming from Oh, you know digging out to the impact of a guy he came from.
Uh huh.
Yeah, Yeah that.
Was that for a month Nigel.
Okay.
In the Oh of course less yeah, the system market on costs was not.
Yeah, Hi.
So you close now.
Colombian for the company HM two produced with its own though.
[noise] our planes that you see a they wish I mean the.
They setting that leaves thing, though I'm not going from these explain why we increased the there and.
Then the Boston piece.
This was liquids.
[music].
[laughter].
Yeah, and guy he's out so questioning does that answer I am like everything increased right.
On the owns that on the B P. Eight between athletes power numbering power and now so I know when it actually right.
[noise] between and within that range, all the P.P.A. [laughter] Simone.
And the power and ER and it's an outside our.
Made the [laughter] goes into that and.
And then the market type so I mean.
It looks like basically the situation that we ended the basket.
Okay. Thank you Jackie and now.
We have a I'm not going to question, Phil I like flat chassis.
And the first question that I like Pat I am I thinking on actually got question.
Are you expecting that to give me in collection Dame strong distribution Ah segments could be transferred to transmission and generation sector.
Hi, He ran analyses for gas and diabetes is that question. So Alex it guarding the discussions on the multiple Oneml Cline.
And then that's excellent traction that we have is that.
Hey, 19 outcomes that we want classes they run off at all on girl fraud yet.
What are you seeing that topic.
Okay [noise].
Well work since then they called.
Okay.
But what's on Sunday [laughter] collection them, although I want to be solution company.
In general they solution.
We don't expect the Amy and Okay. They remain on the on the transformation in production cost.
So in addition in production company.
And [noise].
We believe that so no. We are working actually together also with the VA deem mancos, they kind of any kind of the earlier you know the altogether. The SEC. So this initial SEC Barney.
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And in General Secretary and all that too.
The lateral flow.
As a way mm in order to will reduce it as much as possible they pull seaborne imports from the collection, though on the distribution company.
Invoicing any kind of Oh.
Break in there the.
And they mean chain there along the old so we don't expect any rebound.
On Daytona Beach and production.
Conduct.
Sort of whats concern.
The topic the impact of book could lead to you know one project.
It is already said then HM.
You know they too that's part of our it keeps men piece coming from Oh train them up.
We have about whether it be ahead, but we had already and.
Checks, though.
Yeah, the label or supply or are they keep doing as a matter of fact already that already coming so we don't see any kind of impact on that.
<unk>.
And ER and use the reason because we had we assume.
Eric back some of that project so.
Construction timing Daniel gives you.
Maybe.
Okay. Thank you Jackie and black collections work from like it costs are they can't get Credicorp and now you asked the question Sean I like my Chatzky.
I hope I have said correctly, you're excited name I like so could you. Please provide some color regarding your LNG obligations.
Anything back then could happiness and not you are lowering their national gas prices and higher I played Lucky day, Argentina and gas. So he is a question for and I like so does that continue to use.
Yeah.
[laughter].
As we mentioned last year are doing there [noise], that's something presentation, though.
We are basically we had basically to kind of sauces.
Themselves.
Got supply one means of course, there, Jason and got them and download on the call into that LNG called.
Lindzey cone that Hmm is a is that come into that are going on T.I.s or any possible.
You got rush for all but at the beginning Uh huh.
[noise] basically via the long term, calling for up to now or.
That.
Do you guys that they're the right.
A done deal the supply.
And the content providers, that's one of them out so that's the excuse me.
Yeah My every year.
We currently have a.
Completion.
Or Oh man, you know, there's two to two or benign being too and I.
Hi line.
In my own that called according to our HM.
So the comedies physically.
Yeah, very poor before Uh huh.
Installed monthly CBDV [noise].
It's clear that that the international flights in Damascus staff, who we learned that any.
On sand or [noise].
These companies.
So to even faster because of course or as we need to be villa yeah, and its we live in the Bakken Gena.
Sometimes we use these contract in order to.
To make them to managing in a big trading eat them to me. Another one so we buy from the cone, but then we started.
On the market.
Yeah, Oh, we've done at the end of a book to anything but doesn't mean that Uh huh.
Oh, yes, we are going to be but the important way.
Then there is room basically that the main engine, but because you know that advancing on gas probably some followed the same kind of oh.
Train. So maybe me again, we buy from or are you didn't see no way, we need the tool to use it or MKZ cheaper than LNG, otherwise, we need to that utilize that there.
Our problem.
No.
Okay. Thank you just see and now we're gonna go to one question equal Lastly from me sorry.
So he first question is do you see any we often creeping back that.
The two four feet emergency.
Are there any pets and.
Discussions we think later Oh, how in case to manage Enrico over say feels okay.
Okay, and then second question.
This will need them or again she.
Asia Faxing E N outweigh any way they construction you can do for new renewable capacity.
[noise], Okay [noise].
It's it's clear that they're kinda nickleby, the imaging to tell way could or could affect the debate there.
Two years.
In March.
We didn't see them.
Yeah, and also Oh, we also pushing that all our digital channels in order to reduce that the minimum 11 possible not yeah.
Be below.
Again, it is off to be and <unk> in the east coming more from the early.
The caylloma social outlets that we we face in Oh overlook the.
Mold and only Colby.
The whole, beating the it looks to be HM leasing not sure we don't see anytime going.
Sure.
For the watsco, some difficult basically HM.
We don't have the Andrew this is good discussion on them it be though we did a great though worked yeah.
As I said before is a and.
Of course, what's very the and then.
And you just got Shahuindo or D.A.D., you know that find a way no the colder.
Now that the possible delaying the same in them so.
So in books when dealing with the collection dates of course, I mean, they care about book, so that them, but those are the old book, but HM.
[noise] beyond that.
ER.
We are again that in coincided with a great go to understand how to see the situation.
Okay. Thank you just Betsy and now we have like another question from companies or more.
On the question needs related to those companies through larger it.
Uh-huh, so add exactly accurate to them and let me just your specific question.
Yes, certainly Nick and that we're facing will somehow Ah.
If you see that we are expecting for sales probably.
Project. If you can he is my color on day. Thank you what are your first question does nothing.
Yeah [laughter].
What's cone Santa Luz bone Lotus edge be nation, and before we are reviewing all our soldiers to.
I mean, I read the news safety standards.
Yeah, it's the kinds of styles that we used to do.
But the offering of course to debut and from this thing I'll, just I'll give you going.
So as soon as we as a that makes it a view reason or communicate that can tease that we find different income, but it'll be the hour.
Integration in the past.
Sure.
Okay, just Jackie Thank you I think we have a and surgeons follow the question.
So I I would like them too as we do not have anything on weekends. We don't have any more questions. Dan I conclude their results conference call and let me remind me to announce that one is that going I think that's already seen relation is available for it anyway that you may have entered.
Thanks for your thing him and Stacey Thank you bye-bye.
[noise] bye-bye, ladies and.
Ladies and gentlemen, this concludes todays conference call. Thanks for participating you may now disconnect.
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