PresentationTorsten AchtmannDirector of Investor Relations Good afternoon, and welcome to Telefonica's 2025 Capital Markets Day. It's a pleasure to have you here with us today. Those of you joining us in person and those of you joining us online. On behalf of the entire management team, would like to thank you for taking the time today to engage with us. Today is an important opportunity for us to give you an overview of how we are positioning the company for growth and value creation. Over the next 1.5 ho ...