Wre are pleased to present our Annual Report, which collates infor- mation in respect of the 2022 financial year, a turbulent period thanks to the economic, environmental and geopolitical situation. After the past few years, the most difficult in our history, we have seen the tourism industry recover, driven by the sector’s capacity to adapt to a chang- ing environment and by the increasing need to travel. So, at the close of the 2022 financial year, the Group’s consolidated net profit was 170.1 million euros. These positive figures underline the healthy state of the company. Total income has reached 5,730 million euros, a growth of 103% in relation to the 2021 financial year. These figures lead us to the conclusion that travel, exploring other lands and discovering different ways of life have regained their place as a key priority in people’s lives. Moreover, the Group’s net consolidated financial debt stands at 205.3 mil- lion euros: a financial/ebitda ratio of 0.7. This will enable us to continue growing, whilst maintaining a prudent level of debt. One of the great milestones of 2022 was Barceló Group’s acquisition of 49.5% of the shares in Ávoris Corporación Empresarial, making the Group the company’s sole shareholder. Currently, Ávoris is one of the Europe’s leading travel companies, with a professional workforce in excess of 5,000, over 1,600 points of sale, and over 40 specialist brands. In relation to the Group’s expansion, we have maintained our commitment to continue growing within Spain, with the opening of new hotels in the Ca- nary Islands, Andalusia and Catalonia. We are also focused on international expansion, having added hotels in Ankara (Turkey) and Jakarta (Indonesia). Currently the Group’s hotel chain includes over 275 establishments in 25 countries and (following the recent opening of Canfranc Estación, a Royal Hideaway Hotel at the historic railway station in Huesca) we are looking to open new hotels in Catalonia, the Autonomous Community of Valencia, Murcia, Navarra, Andalusia and the Canary Islands — and elsewhere in the world, with the opening of establishments in Portugal, Slovenia, Poland and Turkey, as well as in Cape Verde, Sri Lanka and the Maldives.