Arthur Suelotto: Hi. Thank you. Thank you, Adolfo, and congratulations for the results. Just a quick question on my side. You announced at the end of last year the new MDP that will be valid from 2024 onwards. Just to know if you have any particular adjustments to the value of your concession on the balance sheet regarding this particular change in the way that the MDP is calculated. If so, is this recognized in the balance sheet of the fourth quarter of 2023 or in the first quarter of 2024? Thank you.
Adolfo Castro: The adjustments on the balance sheet are once we construct the MDP. We do not have any adjustments because of the approval we received last year.
Arthur Suelotto: Thank you. Very clear.
Adolfo Castro: You’re welcome.
Operator: [Operator Instructions] Our next question is from Francisco Suárez with Scotiabank. Please proceed.
Francisco Suárez: Hey, Adolfo. Good morning. Thanks for the call and congrats on your results. The question I have is on your projects related with water security. Just to confirm, the two airports that you’re speaking about that are part of the MDP are Huatulco and Oaxaca, I guess. Is that correct?
Adolfo Castro: In terms of use of water?
Francisco Suárez: Yes. The water security, the permits to all water-related projects that are part of the MDP?
Adolfo Castro: Yes. We have some other projects in some airports related to water. But of course, the most critical are the ones that you have mentioned, Oaxaca and Huatulco, because of, I would say, I don’t want to say the lack of the water, but there are some restrictions in both. And that’s why we are working in those as we speak.
Francisco Suárez: Got it. And with that regard, noticing that you have committed on your science-based targets, two questions on that front. How far your ambition may go? Are you aiming to 1.5 degrees or is it well below 2 degrees? And secondly, do you think that the current framework, the regulation framework on the MDP might be supportive to put investments that are consistent with these targets?
Adolfo Castro: Well, of course, we are putting those and those should be consistent on this water. But let me go back again to the most important initiative we have, which was signed on December 2015. At the moment, represented 100% of the energy we were consuming and that contract was to receive energy from solar sources. The company that was in charge of this project has not been able yet to deliver the energy. The solar farm is ready or has been ready for the last two years and they have not been able to be connected due to the government restrictions. So on that front, we’re talking about, roughly speaking, 80 million kilowatt hours yearly that today could represent 80% of the energy we have or we are consuming. So that is the most critical thing we have because if they are not able to be connected, we will have to find out how to solve this situation.
In the case of the current MDP, as you have mentioned, there are some focus on energy, but the most important focus now is it’s also water.
Francisco Suárez: Got it. Thanks. Congrats again.
Adolfo Castro: You’re welcome.
Operator: That concludes the question and answer portion of today’s call. I would like to turn the call back over to Mr. Castro for closing remarks.
Adolfo Castro: Thank you, Sherry, and thank you all of you again for joining us today in this first quarter 2024 conference call. On behalf of us all, we wish you a good day and goodbye. Now you may disconnect.
