Regis Corporation (NasdaqGM: RGS), a leader in the haircare
industry, today announced financial results for the first fiscal
quarter ended September 30, 2024. Matthew Doctor, Regis
Corporation’s President and Chief Executive Officer, commented:
“Our results continue to reflect our efforts to stabilize the
business, as well as the work we must do to drive future growth. I
am excited by our operational and digital strategies aimed to
ensure we are consistently delivering superior convenience,
service, and quality to our guests. By getting back to basics and
delivering on this experience, we have a clear path to drive guests
to our salons and ensure they keep coming back. Much work remains,
but I believe strongly in the initiatives we have in place to
return Regis to long-term, sustainable growth.”
Financial Highlights:
First quarter fiscal 2025 compared to first quarter fiscal
2024:
- Consolidated revenue of $46.1 million versus $53.4 million;
driven by lower store count and same-store sales
- Same-store-sales decreased 1.1% versus the prior year
- Net loss of $0.9 million versus net income of $1.2 million in
prior year; Diluted EPS of ($0.36) vs. $0.51 in the prior year; Q1
2025 net loss and EPS impacted by one-time items, including but not
limited to $2.3 million severance accrual from August
re-organization in addition to $1.1 million stock-based
compensation adjustment due to stock price movement
- Adjusted net income of $2.6 million versus $1.7 million in
prior year; Adjusted Diluted EPS of $0.93 versus $0.71 in prior
year
- Adjusted EBITDA of $7.6 million versus $8.1 million in prior
year; 40% Adjusted EBITDA margin vs. 38% margin in prior year;
margin based on royalty, franchise fee and company-owned salon
revenue
First Quarter Fiscal Year 2025
Consolidated Results
Three Months Ended September
30,
(Dollars in millions, except per share
data)
2024
2023
Consolidated revenue
$
46.1
$
53.4
System-wide revenue (1)
285.6
306.6
System-wide same-store sales comps
(1.1
)%
1.8
%
Operating income
$
2.1
$
7.4
(Loss) income from continuing
operations
(1.8
)
1.2
Diluted (loss) income per share from
continuing operations
(0.77
)
0.51
Income from discontinued operations
1.0
—
Net (loss) income
(0.9
)
1.2
Diluted (loss) earnings per share
(0.36
)
0.51
Adjusted Operating income
6.5
7.9
Adjusted EBITDA (2)
7.6
8.1
Adjusted Net income
2.6
1.7
Adjusted Diluted earnings per share
0.93
0.71
_______________________________________________________________________________
(1)
Represents total sales within the
system.
(2)
See GAAP to non-GAAP reconciliations
within the attached section titled "Non-GAAP Reconciliations."
Consolidated Revenue
Total consolidated revenue of $46.1 million in the first quarter
2025 declined $7.3 million. The decline was driven primarily by a
reduction in non-margin franchise rental income and advertising
fund contributions and the wind down of loss-generating
company-owned salons.
Operating Income
Regis reported first quarter 2025 operating income of $2.1
million, a decline of $5.3 million compared to $7.4 million in the
first quarter 2024. The year-over-year decline in operating income
was driven primarily by increased severance costs of $2.3 million
and stock-based compensation expense of $1.4 million for the first
quarter 2025.
(Loss) Income from Continuing Operations
Regis reported first quarter 2025 net loss from continuing
operations of $1.8 million, or $0.77 loss per diluted share from
continuing operations, compared to net income from continuing
operations of $1.2 million, or $0.51 diluted income per share from
continuing operations, in the first quarter 2024. The
year-over-year decline was driven primarily by a decrease in
operating income partially offset by a decrease in interest
expense.
Net (Loss) Income
The Company reported first quarter 2025 net loss of $0.9
million, or $0.36 loss per diluted share, compared to net income of
$1.2 million, or $0.51 income per diluted share, for the same
period last year. The year-over-year decline in the quarter was
driven primarily by a decrease in operating income partially offset
by a decrease in interest expense and income from discontinued
operations.
Adjusted EBITDA
First quarter adjusted EBITDA of $7.6 million declined $0.5
million, compared to adjusted EBITDA of $8.1 million in the same
period last year. The decline is primarily related to lower
royalties and a non-recurring benefit in the prior year, offset by
sublease income.
First Quarter Fiscal Year 2025 Segment
Results
Franchise
Three Months Ended September
30,
Decrease
(Dollars in millions) (1)
2024
2023
Royalties
$
15.6
$
16.5
$
(0.9
)
Fees
2.4
2.6
(0.2
)
Product sales to franchisees
—
0.4
(0.4
)
Advertising fund contributions
5.6
7.2
(1.6
)
Franchise rental income
21.6
24.7
(3.1
)
Total franchise revenue
$
45.3
$
51.4
$
(6.1
)
Franchise same-store sales comps
(1.2
)%
1.7
%
Franchise adjusted EBITDA
$
8.0
$
8.6
$
(0.6
)
as a percent of revenue
17.6
%
16.7
%
as a percent of adjusted revenue (2)
44.4
%
44.0
%
Total franchise salons
4,350
4,745
(395
)
as a percent of total franchise and
company-owned salons
99.8
%
98.6
%
_______________________________________________________________________________
(1)
Total is a recalculation; line items
calculated individually may not recalculate due to rounding.
(2)
Adjusted revenue excludes non-margin
revenue. See GAAP to non-GAAP reconciliations within the attached
section titled "Non-GAAP Reconciliations."
Franchise Revenue
First quarter franchise revenue was $45.3 million, a $6.1
million, or 11.9%, decrease compared to the prior year quarter.
Non-margin franchise rental income was the primary driver of the
decline due to fewer franchise salons in the current year and
franchisees renewing their own leases.
Royalties were $15.6 million, a $0.9 million, or 5.5%, decrease
for the first quarter 2025, versus the same period last year due to
fewer franchise salons and negative same-store sales.
Franchise Adjusted EBITDA
First quarter franchise adjusted EBITDA of $8.0 million declined
$0.6 million, The decline is primarily related to lower royalties
and a non-recurring benefit in the prior year, offset by sublease
income.
Company-Owned Salons
Three Months Ended September
30,
Increase (Decrease)
(Dollars in millions) (1)
2024
2023
Total company-owned salon revenue
$
0.8
$
1.9
$
(1.1
)
Company-owned salon adjusted EBITDA
$
(0.3
)
$
(0.5
)
$
0.2
as a percent of revenue
(37.5
)%
(26.3
)%
Total company-owned salons
9
66
(57
)
as a percent of total franchise and
company-owned salons
0.2
%
1.4
%
_______________________________________________________________________________
(1)
Variances calculated on amounts shown in
millions may result in rounding differences.
Company-Owned Salon Revenue
First quarter revenue for the company-owned salon segment
declined $1.1 million versus the prior year to $0.8 million. The
year-over-year decline in revenue was expected and driven by the
closure of 47 loss generating company-owned salons over the past
twelve months.
Company-Owned Salon Adjusted EBITDA
First quarter company-owned salon adjusted EBITDA improved $0.2
million year-over-year, due primarily to the wind-down of under
performing company-owned salons.
Balance Sheet and Cash
Flow
The Company ended the first quarter of fiscal year 2025 with
$6.3 million in cash and cash equivalents, $110.4 million in
outstanding borrowings and available total liquidity of $11.9
million. Net cash used in operating activities for the three months
ended September 30, 2024, totaled $1.3 million, an improvement of
$1.5 million from the three months ended September 30, 2023 due to
lower operating costs. Cash provided by investing activities
includes $957 thousand of proceeds related to salons migrating to
the Zenoti platform.
Non-GAAP Reconciliations
For GAAP to non-GAAP reconciliations, please refer to the
attached section titled "Non-GAAP Reconciliations." A complete
reconciliation of reported earnings to adjusted earnings is
included in this press release and is available on the Company’s
website at www.regiscorp.com.
Earnings Webcast
Regis Corporation will host a conference call via webcast
discussing first quarter results today, November 6, 2024, at 7:30
a.m. Central time. Interested parties are invited to participate in
the live webcast by registering for the event at
www.regiscorp.com/investor-relations.html. A replay of the
presentation will be available on our website at the same web
address.
About Regis Corporation
Regis Corporation (NasdaqGM:RGS) is a leader in the haircare
industry. As of September 30, 2024, the Company franchised or owned
4,359 locations. Regis’ franchised and corporate locations operate
under concepts such as Supercuts®, SmartStyle®, Cost Cutters®,
Roosters® and First Choice Haircutters®. For additional information
about the Company, including a reconciliation of certain non-GAAP
financial information and certain supplemental financial
information, please visit the Investor Relations section of the
corporate website at www.regiscorp.com.
This press release contains or may contain “forward-looking
statements” within the meaning of the federal securities laws,
including statements concerning anticipated future events and
expectations that are not historical facts. These forward-looking
statements are made pursuant to the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995. The
forward-looking statements in this document reflect management’s
best judgment at the time they are made, but all such statements
are subject to numerous risks and uncertainties, which could cause
actual results to differ materially from those expressed in or
implied by the statements herein. Such forward-looking statements
are often identified herein by use of words including, but not
limited to, “may,” “will,” “believe,” “project,” “forecast,”
“expect,” “estimate,” “anticipate,” and “plan.” In addition, the
following factors could affect the Company's actual results and
cause such results to differ materially from those expressed in
forward-looking statements. These factors include a potential
material adverse impact on our business and results of operations
as a result of changes in consumer shopping trends and changes in
manufacturer distribution channels; laws and regulations could
require us to modify current business practices and incur increased
costs including increases in minimum wages; changes in general
economic environment; changes in consumer tastes, hair product
innovation, fashion trends and consumer spending patterns;
compliance with Nasdaq listing requirements; reliance on franchise
royalties and overall success of our franchisees’ salons; our
salons' dependence on a third-party supplier agreement for
merchandise; our franchisees' ability to attract, train and retain
talented stylists and salon leaders; the success of our
franchisees, which operate independently; data security and privacy
compliance and our ability to manage cyber threats and protect the
security of potentially sensitive information about our guests,
franchisees, employees, vendors or company information; the ability
of the Company to maintain a satisfactory relationship with
Walmart; marketing efforts to drive traffic to our franchisees'
salons; our ability to maintain and enhance the value of our
brands; reliance on legacy information technology systems; reliance
on external vendors; the use of social media; the effectiveness of
our enterprise risk management program; ability to generate
sufficient cash flow to satisfy our debt service obligations;
compliance with covenants in our financing arrangement; premature
termination of agreements with our franchisees; the continued
ability of the Company to implement cost reduction initiatives and
achieve expected cost savings; continued ability to compete in our
business markets; reliance on our management team and other key
personnel; the continued ability to maintain an effective system of
internal control over financial reporting; changes in tax exposure;
the ability of our Tax Preservation Plan to protect the future
availability of the Company's tax assets; potential litigation and
other legal or regulatory proceedings; or other factors not listed
above. Additional information concerning potential factors that
could affect future financial results is set forth under Item 1A on
Form 10-K. We undertake no obligation to publicly update or revise
any forward-looking statements, whether as a result of new
information, future events or otherwise. However, your attention is
directed to any further disclosures made in our subsequent annual
and periodic reports filed or furnished with the SEC on Forms 10-K,
10-Q and 8-K and Proxy Statements on Schedule 14A.
REGIS CORPORATION
CONDENSED CONSOLIDATED BALANCE
SHEETS (Unaudited)
(Dollars in thousands, except
per share data)
September 30,
2024
June 30, 2024
ASSETS
Current assets:
Cash and cash equivalents
$
6,259
$
10,066
Receivables, net
9,082
9,434
Other current assets
20,085
22,550
Total current assets
35,426
42,050
Property and equipment, net
3,342
3,664
Goodwill
173,386
173,146
Other intangibles, net
2,377
2,427
Right of use asset
273,970
287,912
Other assets
20,430
21,297
Total assets
$
508,931
$
530,496
LIABILITIES AND SHAREHOLDERS'
EQUITY
Current liabilities:
Accounts payable
$
15,181
$
12,747
Accrued expenses
18,615
21,644
Short-term lease liability
67,161
69,127
Total current liabilities
100,957
103,518
Long-term debt, net
95,176
99,545
Long-term lease liability
218,105
230,607
Other non-current liabilities
38,295
40,039
Total liabilities
452,533
473,709
Commitments and contingencies
Shareholders' equity:
Common stock, $0.05 par value; issued and
outstanding 2,282,395 and 2,279,948 common shares at September 30,
2024 and June 30, 2024, respectively
114
114
Additional paid-in capital
69,972
69,660
Accumulated other comprehensive income
8,736
8,584
Accumulated deficit
(22,424
)
(21,571
)
Total shareholders' equity
56,398
56,787
Total liabilities and shareholders'
equity
$
508,931
$
530,496
REGIS CORPORATION
CONDENSED CONSOLIDATED
STATEMENTS OF OPERATIONS (Unaudited)
For the Three Months Ended
September 30, 2024, and 2023
(Dollars and shares in
thousands, except per share data)
Three Months Ended September
30,
2024
2023
Revenues:
Royalties
$
15,646
$
16,528
Fees
2,352
2,631
Product sales to franchisees
—
384
Advertising fund contributions
5,641
7,226
Franchise rental income
21,636
24,667
Company-owned salon revenue
785
1,936
Total revenue
46,060
53,372
Operating expenses:
Cost of product sales to franchisees
—
359
General and administrative
14,034
10,729
Rent
1,064
1,097
Advertising fund expense
5,641
7,226
Franchise rent expense
21,636
24,667
Company-owned salon expense (1)
753
1,490
Depreciation and amortization
446
370
Long-lived asset impairment
352
—
Total operating expenses
43,926
45,938
Operating income
2,134
7,434
Other (expense) income:
Interest expense
(4,846
)
(6,188
)
Other, net
677
(200
)
(Loss) income from operations before
income taxes
(2,035
)
1,046
Income tax benefit
225
148
(Loss) income from continuing
operations
(1,810
)
1,194
Income from discontinued operations
957
—
Net (loss) income
$
(853
)
$
1,194
Net (loss) income per share:
Basic and diluted:
(Loss) income from continuing
operations
$
(0.77
)
$
0.51
Income from discontinued operations
0.41
0.00
Net (loss) income per share (2)
$
(0.36
)
$
0.51
Diluted:
(Loss) income from continuing
operations
$
(0.77
)
$
0.51
Income from discontinued operations
0.41
0.00
Net (loss) income per share, diluted
(2)
$
(0.36
)
$
0.51
Weighted average common and common
equivalent shares outstanding:
Basic
2,343
2,332
Diluted
2,343
2,362
_______________________________________________________________________________
(1)
Includes cost of service and product sold
to guests in our company-owned salons. Excludes general and
administrative expense, rent and depreciation and amortization
related to company-owned salons.
(2)
Total is a recalculation; line items
calculated individually may not sum to total due to rounding.
REGIS CORPORATION
CONDENSED CONSOLIDATED
STATEMENTS OF CASH FLOWS (Unaudited)
For the Three Months Ended
September 30, 2024, and 2023
(Dollars in thousands)
Three Months Ended September
30,
2024
2023
Cash flows from operating activities:
Net (loss) income
$
(853
)
$
1,194
Adjustments to reconcile net (loss) income
to cash used in operating activities:
Gain from sale of OSP
(957
)
—
Depreciation and amortization
425
375
Long-lived asset impairment
352
—
Deferred income taxes
(221
)
(59
)
Non-cash interest
1,264
640
Stock-based compensation
1,430
630
Amortization of debt discount and
financing costs
719
747
Other non-cash items affecting
earnings
(80
)
238
Changes in operating assets and
liabilities, excluding the effects of asset sales
(3,423
)
(6,589
)
Net cash used in operating activities
(1,344
)
(2,824
)
Cash flows from investing activities:
Capital expenditures
(16
)
(163
)
Proceeds from sale of OSP, net of fees
957
—
Net cash provided by (used in) investing
activities
941
(163
)
Cash flows from financing activities:
Borrowings on credit facility
4,326
2,000
Repayments of revolving credit
facility
(10,237
)
—
Repayments of long-term debt
(263
)
(162
)
Debt refinancing fees
(298
)
(152
)
Taxes paid for shares withheld
(23
)
(6
)
Net cash (used in) provided by financing
activities
(6,495
)
1,680
Effect of exchange rate changes on cash
and cash equivalents
27
(42
)
Decrease in cash, cash equivalents, and
restricted cash
(6,871
)
(1,349
)
Cash, cash equivalents and restricted
cash:
Beginning of period
29,312
21,396
End of period
$
22,441
$
20,047
REGIS CORPORATION
System-Wide Same-Store
Sales
SYSTEM-WIDE SAME-STORE SALES
(1):
Three Months Ended
September 30, 2024
September 30, 2023
Service
Retail
Total
Service
Retail
Total
Supercuts
1.3
%
(9.4
)%
0.8
%
2.5
%
(4.7
)%
2.2
%
SmartStyle
(4.2
)
(18.4
)
(6.6
)
(0.8
)
(7.2
)
(2.0
)
Portfolio Brands
(0.4
)
(10.5
)
(1.1
)
4.2
(1.5
)
3.7
Total
(0.2
)%
(13.8
)%
(1.1
)%
2.4
%
(4.9
)%
1.8
%
_______________________________________________________________________________
(1)
System-wide same-store sales are
calculated as the total change in sales for system-wide franchise
and company-owned locations that were open on a specific day of the
week during the current period and the corresponding prior period.
Quarterly system-wide same-store sales are the sum of the
system-wide same-store sales computed on a daily basis. Franchise
salons that do not report daily sales are excluded from same-store
sales. System-wide same-store sales are calculated in local
currencies to remove foreign currency fluctuations from the
calculation.
REGIS CORPORATION
System-Wide Location
Counts
September 30,
2024
June 30, 2024
FRANCHISE SALONS:
Supercuts
1,932
1,946
SmartStyle/Cost Cutters in Walmart
Stores
1,216
1,232
Portfolio Brands
1,106
1,117
Total North American salons
4,254
4,295
Total International salons (1)
96
96
Total franchise salons
4,350
4,391
as a percent of total franchise and
company-owned salons
99.8
%
99.6
%
COMPANY-OWNED SALONS:
Supercuts
3
3
SmartStyle/Cost Cutters in Walmart
Stores
1
8
Portfolio Brands
5
6
Total company-owned salons
9
17
as a percent of total franchise and
company-owned salons
0.2
%
0.4
%
Grand Total, System-wide
4,359
4,408
_______________________________________________________________________________
(1)
Canadian and Puerto Rican salons are
included in the North American salon totals.
Non-GAAP Reconciliations:
This press release includes a presentation of adjusted EBITDA
and adjusted franchise revenue, which are non-GAAP measures. The
non-GAAP measures are financial measures that do not reflect United
States Generally Accepted Accounting Principles (GAAP). We believe
our presentation of the non-GAAP measures provides meaningful
insight into our ongoing operating performance and a supplemental
perspective of our results of operations. Presentation of the
non-GAAP measures allows investors to review our core ongoing
operating performance from the same perspective as management and
the Board of Directors. These non-GAAP financial measures provide
investors an enhanced understanding of our operations, facilitate
investors’ analyses and comparisons of our current and past results
of operations and provide insight into the prospects of our future
performance. We also believe the non-GAAP measures are useful to
investors because they provide supplemental information that
research analysts frequently use to analyze financial
performance.
Items impacting comparability are not defined terms within U.S.
GAAP. Therefore, our non-GAAP financial information may not be
comparable to similarly titled measures reported by other
companies. We determine the items to consider as "items impacting
comparability" based on how management views our business, makes
financial, operating and planning decisions and evaluates the
Company's ongoing performance.
The following items have been excluded from our non-GAAP
adjusted EBITDA results: stock-based compensation expense,
discontinued operations, one-time professional fees and legal
settlements, severance expense, excess inventory impairment
charges, the benefit from lease liability decreases in excess of
previously impaired right of use asset, lease termination fees and
asset retirement obligation costs.
We present adjusted revenue to provide a meaningful franchise
adjusted EBITDA margin, which removes non-margin revenue from total
revenue to arrive at an adjusted margin. Margin is a common metric
used by investors, however, the majority of our revenue is offset
by equal expense, so it does not contribute to our margin. We
remove the non-margin revenue from this metric in order to show a
meaningful margin rate.
The method we use to produce non-GAAP results is not in
accordance with U.S. GAAP and may differ from methods used by other
companies. These non-GAAP results should not be regarded as a
substitute for corresponding U.S. GAAP measures, but instead should
be utilized as a supplemental measure of operating performance in
evaluating our business. Non-GAAP measures do have limitations as
they do not reflect certain items that may have a material impact
upon our reported financial results. As such, these non-GAAP
measures should be viewed in conjunction with our financial
statements prepared in accordance with U.S. GAAP.
REGIS CORPORATION
Reconciliation of U.S. GAAP
Net Income to Adjusted EBITDA
(Dollars in thousands)
(Unaudited)
Three Months Ended September
30,
2024
2023
Reported net (loss) income
$
(853
)
$
1,194
Interest expense
4,846
6,188
Income tax benefit
(225
)
(148
)
Depreciation and amortization
446
370
Long lived asset impairment
352
—
EBITDA
$
4,566
$
7,604
Stock-based compensation expense (1)
1,430
630
Gain on discontinued operations
(957
)
—
Discrete items (2)
2,597
(141
)
Adjusted EBITDA, non-GAAP financial
measure
$
7,636
$
8,093
_______________________________________________________________________________
(1)
Beginning in fiscal year 2025, management
made the determination to exclude stock-based compensation expenses
from the adjusted EBITDA calculation. This change has been
retroactively applied to all prior periods presented
accordingly.
(2)
Discrete items include one-time
professional fees and legal settlements, severance expense, excess
inventory impairment charges, the benefit from lease liability
decreases in excess of previously impaired right of use asset,
lease termination fees and asset retirement obligation costs
REGIS CORPORATION
Reconciliation of Reported
General and Administrative Expenses to General and Administrative
Expenses Used to Calculate Adjusted EBITDA
(Dollars in thousands)
(Unaudited)
Three Months Ended September
30,
2024
2023
Reported general and administrative
$
14,034
$
10,729
Discrete general and administrative
(1)
(2,607
)
—
Stock-based compensation
(1,430
)
(630
)
Adjusted general and administrative
$
9,997
$
10,099
_______________________________________________________________________________
(1)
Discrete items include one-time
professional fees and legal settlements, severance expense, and
asset retirement obligation costs.
REGIS CORPORATION
Reconciliation of Reported Net
(Loss) Income to Adjusted Net Income
(Dollars in thousands)
(Unaudited)
Three Months Ended September
30,
2024
2023
Net (loss) income
$
(853
)
$
1,194
Stock-based compensation
1,430
630
Long lived asset impairment
352
—
Discontinued operations
(957
)
—
Discrete items
2,619
(145
)
Adjusted Net income
$
2,591
$
1,679
REGIS CORPORATION
Reconciliation of Reported
Earnings Per Share to Adjusted Earnings Per Share
(Unaudited)
Three Months Ended September
30,
2024
2023
Reported earnings per share
$
(0.36
)
$
0.51
Adjustment to reconcile reported to
adjusted earnings per share
1.23
0.20
Impact of change in weighted average
shares (1)
0.06
—
Adjusted earnings per share
$
0.93
$
0.71
_______________________________________________________________________________
(1)
Non-GAAP net income per share reflects the
weighted average shares associated with non-GAAP net income, which
includes the dilutive effect of common stock equivalents. The
earnings per share impact of the adjustments for the three months
ended September 30, 2024 included additional shares for common
stock equivalents of 0.4 million. The impact of the adjustments
described above result in the effect of the common stock
equivalents to be dilutive to the non-GAAP net income per share
REGIS CORPORATION
Reconciliation of Reported
Franchise Adjusted EBITDA as a Percent of GAAP Franchise
Revenue
to Franchise Adjusted EBITDA
as a Percent of Adjusted Franchise Revenue
(Dollars in thousands)
(Unaudited)
Three Months Ended September
30,
2024
2023
Franchise adjusted EBITDA
$
7,986
$
8,590
GAAP franchise revenue
45,275
51,436
Franchise adjusted EBITDA as a percent of
GAAP franchise revenue
17.6
%
16.7
%
Non-margin revenue adjustments:
Franchise rental income
$
(21,636
)
$
(24,667
)
Advertising fund contributions
(5,641
)
(7,226
)
Adjusted franchise revenue
$
17,998
$
19,543
Franchise adjusted EBITDA as a percent of
adjusted franchise revenue
44.4
%
44.0
%
View source
version on businesswire.com: https://www.businesswire.com/news/home/20241106247461/en/
REGIS CORPORATION: Kersten Zupfer
investorrelations@regiscorp.com
Regis (NASDAQ:RGS)
Gráfica de Acción Histórica
De Dic 2024 a Ene 2025
Regis (NASDAQ:RGS)
Gráfica de Acción Histórica
De Ene 2024 a Ene 2025
