Thank you, operator. Good morning, and thank you for joining us today. On behalf of our management team, it is my pleasure to welcome you to the full year '23 results call of Telefónica Deutschland.

Telefonica has reported revenues of €8.958 billion in the third quarter of 2025, down 1.6 percent year-on-year, alongside a net income of €271 million from operations. Services revenue reached €8.164 ...

Germany may be convulsed in legal wrangling regarding which foreign firms’ technology can be used on communications networks, but for Telefónica Deutschland, this is at least a non-matter as regards ...