Nestle S.A

Good afternoon and good morning to everyone. This is Luca Borlini, head of Nestlé Investor Relations. Thank you for joining the Q&A session for Nestlé's Q1 2024 sales. With me today are Nestlé CEO Mark Schneider and CFO Anna Manns. Starting this quarter, we are following a new format to serve you better. We have made available our prepared remarks at 7 a.m. together with our first quarter press release and presentation on the Nestle investor relation website. I trust you have had the time to review these materials and listen to the recording. Therefore, we can go straight to the question and answer session. Before we begin, please take careful note of our usual disclaimer. With that reminder given, let's begin the session. The line for questions from financial analysts is now open. Please remember to limit yourself to no more than two questions. And the first question is from Warren Ackerman at Barclays. Please go ahead, Warren.

Yes, Warren.

We cannot hear you well. I don't know if there is a problem with your telephone.