Good morning. Thank you for those of you who are attending this AGM in person. I'm pleased to welcome you to this annual general meeting of Logista. Thank you for attending this AGM. We trust that the remote voting mechanisms that have been made available, as well as the real-time broadcasting of this AGM, will enable all shareholders who are not attending in person to adequately follow the progress of the meeting. The meeting is formally opened. Let me now give the floor to the secretary of the AGM.
Thank you very much. I remind you that the announcement of the call for the meeting was published on the 20th of December, 2022 on the company's website. Thank you very much. Let me re peat.
I remind you that the announcement of the call for the meeting was published on the 20th of December, 2022 on the company's website and the newspaper La Razón, on the website of the CNV National Securities Market Commission through the relevant disclosure of other relevant information. In addition, the board declares that the notice of call, the proposed resolutions, and the documents and reports to be submitted to the meeting have been continuously posted on the company's website from that date until to date. The presiding committee is made up of Mr. Marañón, by myself as the Secretary of the Board of Directors and the directors, Mrs. Blohm, Downing, Garmendia, Hathaway, Isasi, McCain, Meraz, Minc, Platero, and Ramsey. Also in attendance is Mrs.
María Dolores Peña Peña, Notary Public of the Ilustre Colegio Notarial de Madrid, who has been requested to draw up the minutes of the meeting, as agreed by the Board of Directors of the company in accordance with the provisions set out in the revised text of the Capital Companies Act.
The secretary will provide you with the details of the quorum for this meeting.
The summary of the list of attendees that provides the legal and statutory quorum required to hold this AGM is as follows. The shareholders attending in person, 73, holding 68,144,628 shares that account for 51.33% of the total shares.
The shareholders, represented by a proxy, 489, holding 39,970,658 shares, accounting for 30.07% of the total share capital. In total, there are 562 shareholders who hold 108,672,287 shares that account for 81.4% of the share capital. The quorum data will be published on the company's website at the end of the meeting. Pursuant to sections 193 and 194 of the Spanish company's law, and pursuant to the AGM regulations, all necessary legal requirements are fulfilled to declare this general meeting to be validly convened on first call. In view of the attendance data, this ordinary general meeting is declared to be validly constituted on first call.
I give the floor to the notary public.
Good morning, I am María Dolores Peña, the notary public that has been called upon to attend this AGM. I would like to ask whether there are any reserves or objections to the shareholders that are attending this AGM representing the company's share capital. There are no reservations.
Thank you very much, Mrs. Notary Public. I would like to ask the shareholders who may wish to take the floor after my speech on this year's report to ask the staff at the back of the room for the form to be filled in. After the speeches have been made, all questions will be taken. The proposed resolutions will be put to the vote, and I would like to ask the secretary of the AGM to give you some instructions about the proce ss.
Okay. The voting of the proposals of resolution concerning the matters in the agenda will be done through a negative deduction system. For this purpose, all shares present and represented shall be considered to vote in favor of the proposal, deducting the votes corresponding to shares whose holders or proxies declare that they vote against the proposal or abstain, informing the secretary or persons assisting her or the notary public accordingly, so that they may be put on record pursuant to the AGM regulations. The voting of the proposals of resolution concerning matters not on the agenda will be done through a positive deduction system.
For this purpose, all shares, present and represented shall be considered to vote against the proposal deducting the votes corresponding to shares whose holders or proxies declare that they vote for the proposal or abstain, informing the secretary or persons assisting her or the notary public accordingly, so that they may be put on record pursuant to the AGM regulations. I further advise you that should any shareholder leaving before the voting process starts wish to put that on record, he or she may inform so to the presiding board assistants. Such departure will be recorded for quorum and voting purposes. The proposals of resolution submitted by the board of directors will be voted first, followed by those proposed by other parties, if any. Once a proposal of resolution is adopted, all others incompatible with such adopted resolution will be automatically declined.
Thank you very much, Mrs. Notary Public. Dear shareholders, good morning once again. Thank you very much for attending this annual general meeting that is being broadcasted in real time. We shall present 2022 financial results and the targets and challenges that Logista has ahead. In the prior fiscal year, we witnessed a very complex geopolitical context. In February, the Ukraine invasion started and thereafter many relevant challenges had to be faced by the company. There were many setbacks to obtain raw materials from that country, and that had an impact. Above all, the subsequent price increase due to inflation rate hikes in Europe. This has no doubt been one of the issues that we had to manage more carefully. All this has happened in a year that should have been a year of economic recovery after the COVID-19 pandemic.
Fuel price increases also had an impact on the transportation sector that was quite significant. However, at Logista, we were able to face such setbacks thanks to our resiliency and thanks to our flexibility to adapt to the changes that occur in the context, as well as thanks to all the efforts made by the company's team to keep on making progress. It is also true, however, that during this fiscal year, some sectors have been able to rally that had been strongly hit by the pandemic, such as tourism, hotels and retailers. All of them have been able to go back to pre-pandemic levels, therefore positively pushing other industries that are closely linked to them. Amidst this very complex backdrop, Logista has been able to take a quantum leap forward, driving its diversification strategy and providing added value to its customers.