Good afternoon, ladies and gentlemen. At this time, we would like to welcome everyone to SABESP Conference Call to discuss its Results for the Second Quarter of 2016. The audio for this conference is being broadcasted simultaneously through the Internet in the website, www.sabesp.com.br. In that same address, you can also find the slideshow presentation available for download. We inform that all participants will only 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] This call is being recorded. 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 Mr. Rui Affonso, Chief Financial Officer and Investor Relations Officer, Mr. Mário Arruda Sampaio, Head of Capital Markets and Investor Relations, and Mr. Marcelo Miyagui, Head of Accounting. Now, I'll turn the call over to Mr. Arruda Sampaio. Sir, you may begin your conference. Mário Sampaio: Okay. Thank you and good afternoon for all those attending this conference call. Here, we intend to discuss the results for the second quarter and the water situation in the São Paulo Metro region and…

[Operator Instructions] Our first question comes from Michael Gaugler of Janney Montgomery Scott. Please go ahead.

Good afternoon, everyone. Mário Sampaio: Good afternoon, Michael.

Hi, Michael.

Congrats on a nice quarter. I was just wondering if you could remind us of the timeline for the Arsesp discussions for this new rate methodology and perhaps when you'd be looking to conclude? Mário Sampaio: Hey, Michael. The official timeline has not been disclosed by the regulator, so far. But as you can see, they have started the process. This is the first move, the discussion around the methodology. And once this is done, we will start working on the appraisal, the bidding process to bring the consultants on our side and their side. On the other hand, obviously, we're anxious to know the next steps and the dates. But one thing is for sure. We're very confident that by April next year, we should have the tariff revision concluded, if anything, all the way to June. But that's our call right now.

All right. That's all I had, gentlemen. Thank you. Mário Sampaio: Thanks, Michael.

[Operator Instructions] There appears to be no further questions. Now, I'll turn the conference back to SABESP for their final remarks. Mário Sampaio: Okay. Once more, thank you for your participation and I'll see you guys, everybody on November for the third quarter. Bye, bye.

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