Good morning, ladies and gentlemen, and welcome to Ferroglobe's First Quarter 2020 Earnings Call. At this time, all participants are in a listen-only mode. Later we will conduct a question-and-answer session and instructions will be given at that time. As a reminder this conference call may be recorded. I would now like to turn the call over to Beatriz García-Cos Ferroglobe's Chief Financial Officer. You may begin. Beatriz García-Cos: Good morning, everyone, and thank you for joining Ferroglobe's first quarter 2020 conference call. Joining me today are Marco Levi, our Chief Executive Officer; Gaurav Mehta, EVP of Strategy and Investor Relations; and Jorge Lavin, Group Controller. Before we get started with our prepared remarks, I'm going to read a brief statement. Please turn to slide one at this time. Statements made by management during this conference call that are forward-looking are based on current expectations. Risk factors that could cause actual results to differ materially from these forward-looking statements can be found in Ferroglobe's most recent SEC filings and the exhibit to those filings which are available on our website www.ferroglobe.com. In addition, this discussion includes reference to EBITDA, adjusted EBITDA, gross debt, net debt and adjusted diluted earnings per share, which are non-IFRS measures. Reconciliation of these non-IFRS measures may be found in our most recent SEC filings. Next slide please. During today's call, we will first review the highlights for Q1, as well as our business and operating environment. I then will provide some additional details on our financial performance and key drivers behind our results. I would now like to turn the call over to Marco Levi, our Chief Executive Officer. Next slide, please.

Thank you, Beatriz, and good morning, afternoon, evening, everyone. Before we get into some specifics for the quarter, I want to mention that priority one is the health and safety of our employees and we have taken significant measures during these unprecedented times to protect them and to ensure a secure work environment. I am pleased with our crisis management team's execution, given the challenges across our organization from COVID-19 pandemic, and I am proud to report that the quick decisions of the team have resulted in healthy worksites across the group and enabled us to operate with minimal disruption. After a challenging year in 2019, where our business was adversely affected by a severe industry downturn, 2020 started off unexpectedly with the COVID-19 pandemic, which has negatively impacted many industries and economies around the world. Despite the difficult environment, we have made significant progress in improving our business, both operationally and financially. During the first quarter, we have expanded margins, improved working capital, increased the cash balance, and reduced our net and gross debt. The financial and operational improvements in Q1 were the result of management's continuous focus on cost management and rightsizing the company to navigate and succeed in the current environment. There are still many uncertainties in our end markets and as a result of the COVID-19 pandemic. Our efforts will be ongoing as we seek to adapt to the lingering uncertainties created by the pandemic across our value chain. In our previous conference call, we highlighted our new strategic plan, which was and is being evaluated and designed. With the help of a leading consulting firm, we are undergoing a deep and broad evaluation of our business with a fresh lens. The goal of the project is to conclude with a plan, which not only returns…

Thank you. [Operator Instructions] Okay. Ladies and gentlemen, it's my pleasure to turn the call back to Marco Levi, for his final remarks.

Thank you, Carmen. That concludes our first quarter 2020 earnings call. As I mentioned at the beginning of the call, this quarter's performance is certainly trending in the right direction. However, we have much more work to do to return to profitability. I am confident that the actions we are currently undertaking along with the new initiatives which are being developed as part of our strategic plan will help us get there. And ensure a strong and more competitive Ferroglobe. The work we are doing evaluating all parts of our organization is interesting and available. And we look forward to updating you, on our new strategic plan when we conclude our work. Thanks again for your participation. We look forward to hearing from you, on the next call. Have a great day.

And thank you. Ladies and gentlemen, this concludes today's conference call. Thank you for participating. And you may now disconnect.