Good afternoon, everyone, and welcome to the Cresud Third 2019 Results Conference Call. Today's live webcast, both audio and slide show may be accessed through the company's Investor Relations website at www.cresud.com.ar by clicking on the banner Webcast/Link. The following presentation and earnings release issued yesterday are also available for download on the company's website. [Operator Instructions] Before we begin, I would like to remind you that this call is being recorded and that information discussed may include forward-looking statements regarding the company's financial and operating performance. All projections are subject to risks and uncertainties, and actual results may differ materially. Please refer to the detailed note in the company's earnings release regarding forward-looking statements. And I would now like to turn the call over to Mr. Matías Gaivironsky, CFO. Please go ahead, sir. Matías Gaivironsky: Thank you. Good afternoon, everybody. So we are starting our nine months period conference call. Remember that since the last quarter we started to assist our financial for inflation. So all the information that we have now is assisted to reflect the current purchasing power of the peso. So we finished this nine month period with a loss in the ninth month of ARS 9.8 billion, AES 6.8 is attributable to our shareholders. We will see later the main explanations, but it's basically the losses due to effects and lower results from our investment properties and fair value of our investment properties. When we see our EBITDA, we posted adjusted EBITDA for the period of ARS 15.8 billion, that is 25.9% above last year. When we see the breakdown of this 256% came from our agriculture production. 60% is the farming, 7.1% above in the Argentina rental adjusted EBITDA and 42.2% in the Israel rental segment – real-estate segment. When we see our production for the year, we are increasing 19% the planted area against the last year. We will reach 248,000 hectares for the period, for the year, that is our record in our history. We already finished 100% of the harvest in the wheat, 65% of the soybean, 12% of the corn and we will see with Carlos evolution in all the segments and you will see that we are having very good results for agriculture. Finally, regarding – we started a new share buyback plan up to ARS 300 million pesos. We already purchased 14.5% of the program and we will plan to continue after the presentation of these financials. So with this now, I will introduce Carlos Blousson, our General Manager for our operations in Argentina and Bolivia. Please Carlos, go ahead.

Okay. Good evening, everybody. Thank you, Matías. Let's look at the Slide number 3 or Page number 3 planted area evolution and develop evolutions. Let's begin by talking about the planted area evolutions. As you may see there is an increase 24.7% of the 248,000 hectares planted, as Matías told before. We generated historical record mainly due to the growth of area in Brazil and in Argentina. The crop breakdown has made up of 51% soybean, 28% corn, 12% sugarcane and 10% other products. Regarding the farm develop evolution, we developed 8,5000 hectares among in Argentina, Paraguay and in Brazil in the last fiscal year. Let's go to the next page Slide 4. Overall regional good weather conditions. Argentina's weather condition has recovered from the strong drought that the country suffered during the last campaign. And the climate tends with good prospects, especially in Argentina corn belt on the west of the country. Brazil also had a good weather condition expect for this small drought in the North East in the state of Bahía and Maranhão. As you can see in the next page, Slide number 5 about commodity prices and global stocks. As we see in the graph, we continued with a trend of low prices in two year. We mainly see a price dub of 12% in soybean, due to two factors. The first factor is the commercial war between United States and China, generating an increase in livestock soybean stocks of 22% as you can see in the graphic in the relation of stock/consumption is star conceptions, crossing year-to-year fold in prices for at least the last 10 years. The second factor is a swine fever in China. It was caused by the increase of the stocks pigs. As a question of that, there has been a…

Thank you. The floor is now open for questions. [Operator Instructions] : :

And at this time, I’m seeing no questions. So this will conclude your question-and-answer section. I’d like to turn the conference back over to Mr. Matías Gaivironsky for any closing remarks. Matías Gaivironsky: Okay, thank you. We have some very good operational results in the first nine months of the year. So we expect to close record campaign next quarter with very good deals and high agriculture production in the region. So thank you very much for your participation. I’ll see you next quarter in our fiscal year 2019 annual results. Thank you.

Thank you. This concludes today’s presentation. You may disconnect your lines at this time and have a nice day.