Bayerische Mtrnwrk U/Adr

Ladies and gentlemen, dear colleagues, welcome to the media Q&A session of the BMW Group Annual Conference. I would now like to introduce to you the members of the Board of Management. I will start on my right. First, Milan Nedeljkovic, production. Next to him we have Ilka Horsmeier, people and real estate. Then to my immediate right, Walter Mertl, responsible for finance. To my left is our CEO, Oliver Zipse. Directly next to him, Joachim Post, member of the Board of Management for Development. Next to him is Jochen Goller, responsible for customers, brands and sales. And last but not least, Nikolai Martin, purchasing and supplier network. We will broadcast your questions live, of course, happy to have you turn on your video transmission. We also ask you to use the raise hand feature if you have a question. Please note, your video will be visible on the wall behind us until your question has been fully answered. This year, we once again have participants joining us from all over the world. We therefore do ask for your understanding should there be any minor technical delays. Please note, the Q&A session will be held in German. Of course, we will provide simultaneous interpretation into English. You are therefore welcome to ask your questions in English as well. Our board members will then answer in German and your questions will be interpreted simultaneously as well as the answers. Ladies and gentlemen, dear colleagues, let us begin. Now that we have covered the organizational part, let's start the Q&A. We will move on to the first question. It comes from Christina Ammann from Reuters. We probably will hear or see her in just a second. Hello, Ms. Ammann. We unfortunately cannot hear you just yet. Maybe you're on mute. We still can't hear you, I'm afraid.

I'm so sorry, Ms.

Ammann, we still can't hear you. We might have to circle back to you.