Good afternoon, ladies and gentlemen. At this time, we would like to welcome everyone to Cosan S/A’s Fourth Quarter and Year of 2018 Results Conference Call. Today with us we have Mr. Phillipe Casale, Investor Relations Executive Manager; and Mr. João Arthur Souza, Head of Finance. We would like to inform you that this event is recorded, and all participants will be in a listen-only mode during the Company’s presentation. [Operator Instructions] After, Cosan’s remarks, there will be a question-and-answer session for industry analysts. At that time, further instructions will be given. [Operator Instructions] The audio and slideshow of this presentation are available through live webcast at ir.cosan.com.br. The slides can also be downloaded from the webcast platform. Before proceeding, let me mention that forward-looking statements are based on the beliefs and assumptions of Cosan’s management and on information currently available to the Company. 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 Cosan and could cause results to differ materially from those expressed in such forward-looking statements. Now, I’ll turn the conference over to Mr. Phillipe Casale. Mr. Casale, you may begin the call.

Good afternoon, everyone, and welcome to Cosan S/A's Fourth Quarter and 2018 Earnings Conference Call. This conference call will be a bit different. As we have already announced to the market, there are few operations underway in the capital markets involving the group. Cosan announced the voluntary tender offer for the acquisition of Comgás preferred shares and Raízen is in the process of issuing agribusiness receivable certificates. For this reason, we are suspending the disclosure of guidance for now. Presentation and the Q&A session will strictly be about the fourth quarter and 2018 results, and we will not be able to talk about expectations on future results. Once these operations are concluded, we will resume guidance this quarter. Now, let's move to slide four to discuss results starting with Raízen downstream operation recently acquired in Argentina. This is the first quarter that we released the results of refining and distribution operations in Argentina. This acquisition was completed on October 1, 2018, which means we will be talking about the full quarter. Before we start, I would like to give two disclaimers. First, downstream operations’ functional currency in Argentina is the U.S. dollar, so we will report the results in this currency. Second, we will not disclose comparative periods prior to the acquisition, since Shell's operation in the upstream and downstream were consolidated, and we don't have this required separation for comparison purpose. Let's now discuss the figures. 2018 was quite a difficult year for Argentina. Severe economic distress resulted in the depreciation of Argentinean peso, inflation and high interest rates. In the fourth quarter of 2018, the economic scenario improved from previous quarters but a sharp drop in oil prices in the period directly impacted Raízen's results. Total volumes processed by Raízen's refinery was 75.5 barrels a day. The utilization…

Thank you. As we don’t have questions, this concludes Cosan's audio conference for today. Thank you and have a good afternoon.