Lojas Americanas reported consolidated and parent company earnings results for the fourth quarter and year ended December 31, 2017. For the quarter, on consolidated basis, reported net sales and services revenue of BRL 5,533.7 million compared to BRL 6,261.2 million a year ago. Operating income before net financial result was BRL 872.5 million compared to BRL 929.4 million a year ago. Net income was BRL 284.7 million compared to BRL 255.6 million a year ago. Adjusted EBITDA was BRL 1,064.1 million compared to BRL 1,093.7 million a year ago. For the year, on consolidated basis, net sales and services revenue was BRL 17,044.7 million compared to BRL 18,103.5 million a year ago. Operating income before net financial result was BRL 2,050.6 million compared to BRL 2,180.3 million a year ago. Net income was BRL 237.6 million compared to BRL 211.7 million a year ago. Adjusted EBITDA was BRL 2,817.2 million compared to BRL 2,808.3 million a year ago. Net debt was BRL 1,462.2 million as of December 31, 2017, which is a reduction of BRL 509.2 million, vis-à-vis, a net debt of BRL 1,975.4 million, registered on September 30, 2017. Adjusted net profit was BRL 2,522.2 million compared to BRL 2,244.1 million a year ago. Net cash provided by operating activities was BRL 437.1 million compared to net cash used in operating activities of BRL 1,198.9 million a year ago. Purchase of property, plant and equipment was BRL 827.9 million compared to BRL 493.6 million a year ago. Purchase of intangible assets was BRL 491.9 million compared to BRL 550.7 million a year ago. For the quarter, on parent company basis, reported net sales and services revenue of BRL 3,833.5 million compared to BRL 3,525.8 million a year ago. Operating income before net financial result was BRL 732.8 million compared to BRL 746.4 million a year ago. Net income was BRL 284.7 million compared to BRL 255.6 million a year ago. Adjusted EBITDA was BRL 849.1 million compared to BRL 833.6 million a year ago. For the year, on parent company basis, reported net sales and services revenue of BRL 11,000.2 million compared to BRL 10,372.3 million a year ago. Operating income before net financial result was BRL 1,763.3 million compared to BRL 1,784.3 million a year ago. Net income was BRL 237.6 million compared to BRL 211.7 million a year ago. Adjusted EBITDA was BRL 2,197.5 million compared to BRL 2,120.4 million a year ago. Adjusted net profit was BRL 2,085.9 million compared to BRL 1,934.8 million a year ago. Net cash provided by operating activities was BRL 558.3 million compared to net cash used in operating activities of BRL 307.2 million a year ago. Purchase of property, plant and equipment was BRL 824.0 million compared to BRL 463.3 million a year ago. Purchase of intangible assets was BRL 115.9 million compared to BRL 97.6 million a year ago.