Good afternoon, ladies and gentlemen. At this time, we would like to welcome everyone to SABESP Conference Call to discuss its results for the Third Quarter of 2019. The audio for this conference is being broadcast simultaneously through the Internet on the Web site www.sabesp.com.br where you can also find the slide show presentation available for download. We inform you that this call is being recorded and that all participants will be able to listen to the conference during the company's presentation. After the company's remarks are over, there will be a Q&A period. At that time, further instructions will be given. [Operator Instructions]Before proceeding, let me mention that forward-looking statements are being made under the Safe Harbor of the Securities Litigation Reform Act of 1996. Forward-looking statements are based on the beliefs and assumptions of SABESP's management and on information currently available to the company. Forward-looking statements are not guarantees of performance. They involve risks, uncertainties, and assumptions because they relate to future events, and therefore, depend on circumstances that may or may not occur in the future. Investors should understand that general economic conditions, industry conditions, and other operating factors could also affect the future results of SABESP, and could cause results to differ materially from those expressed in such forward-looking statements.Today with us we have Benedito Braga, CEO; Rui Affonso, Chief Financial Officer and Investor Relations Officer; Adriano Stringhini, Corporate Management Officer; Mario Arruda Sampaio, Head of Capital Markets and Investor Relations; and Marcelo Miyagui, Head of Accounting.Now, I will turn the conference over to Benedito Braga, CEO. Sir, you may begin your conference.

Thank you. Good morning, everyone. It is a great pleasure to be in this conference with our directors and superintendents to discuss the results of the third quarter. We are extremely happy with the results. You will appreciate the results. Mario Sampaio will -- in a very detailed fashion present the results for you, and what I would like to say is that the administration of this company is looking forward to bring in more and more consumers, and we were very successful in bringing in Guarulhos and Santo Andre, that is now producing the earlier results of the assumption of the municipalities. We were very successful in Guarulhos to stop water rationing, and more than a million people that were going through rationally are not any longer in that situation. Also, the intermittency of water distribution in Santo Andre will be improved, and we already started some civil works that is going to be very beneficial to the population of Santo Andre during the summertime, approaching summertime in December, January, and February.So, in a nutshell, things are moving smoothly. We are very determined to clean up one of our icons in Sao Paulo with the Pinheiros River by 2022, and this involves a lot of investment in sewage collection and treatment, but we are prepared for that. We are now using innovative contracting processes that will accelerate results in the area of sewage treatment. This is very important for the image of our company and the interest of our shareholders in these results.So, without further ado, I will give the floor to Mario Sampaio to present you in detail the financial results. Thank you.

Hey. Thank you, Mr. Braga. So, let's start. Let's start on slide three. Excluding [ph] the services now being provided to Guarulhos and Santo Andre, we can see that total billed volume increased by 2.8%, of which, 2.4% was for water services, and 3.4% was for sewage services when you compare to third quarter '18. We considered Guarulhos and Santo Andre, the total bill volumes grows to 3.8%.Now on slide four, here we will discuss our financial results. In the third quarter of '19, our net income was R$1.2 billion compared to third quarter '18 net income of R$565 million, resulting in a bottom line growth of 113.9%. This variation is mainly driven on the positive side to the R$1.3 billion impact due to the recognition of extraordinary revenues from the signing of the agreement with the municipality of Sao Paulo. As you recall, this is to provide sanitation services directly to the [indiscernible].On the unfavorable side, the increase in finance expenses resulting from the devaluation of the Brazilian payout against the dollar and the Japanese yen was the main event. Net operating revenues was R$5.4 billion against R$3.8 billion in third quarter '18, resulting in an increase of 42%. Excluding the services in Santo Andre, net operating revenue was R$4.1 billion, which corresponds to an increase of 8.5%. As for cost, administrative and selling expenses and construction costs, we had an increase of 5.5%, mainly due to services, electricity and general expenses. On the other hand, we had a 25% reduction in salaries, charges, benefits, and pension obligations accountant, largely due to the reversal of a provision referring to an agreement signed with the public prosecutor office of Sao Paulo regarding the gradual dismissal of retired employees, which the company fully comply with the requirements that were established by…

There appears to be no questions in the question queue, and I would now like to turn the conference back over to SABESP for their final remarks.

Okay. Thank you everybody for your time. We will definitely be back here soon for the fourth quarter results. So, thanks. Bye-bye.

The conference has now concluded. Thank you for attending today's presentation. You may now disconnect.