Volkswagen Ag Unsp/Adr

Ladies and gentlemen, welcome to the Volkswagen AG Investor Analyst and Media Call Q1 2024. I am Shari, the car's call operator. I would like to remind you that all participants will be in listen-only mode and the conference is being recorded. The presentation will be followed by a Q&A session. You can register for questions at any time by pressing star and 1 on your telephone. For operator assistance, please press star and 0. The conference must not be recorded for publication or broadcast. At this time, it's my pleasure to hand over to Mr. Pietro Zolino, head of corporate communications. Please go ahead.

Good morning, everyone, and a warm welcome to the first quarter results call of Volkswagen Group. It's a joint call for both media as well as investors and analysts, which is moderated by Rolf Voller, our head of treasury and AR, and myself, Pietro Zolino. I'm heading corporate communications. With us today is Arno Antlitz, our CFO and COO. Let me provide a few remarks before we start. You should have received the press release, the interim financial report, and all the other related materials, all of which were published this morning. If you do not have them yet, you can find them, all the documents, you can find all the documents on our group website. In case of any issue, give us a call or drop us an email, and we will send them straight to you. Before I hand over to Rolf, I would like to inform you about a change in our reporting. Volkswagen Group has decided to change the reporting frequency for deliveries from a monthly to a quarterly rhythm, starting from Q2 2024. The main reason is that comparisons of monthly figures are often distorted due to, for example, differing numbers of working days. With that, let me now hand over to Rolf, who will give you a brief run-through of the next one and a half hours.

Thank you, Pietro, and a very good morning to everyone on the call, also from my side. Thanks for joining us today at this beautiful morning here in Wolfsburg. Let us have a look at the agenda. Arno will first present the key highlights of the first quarter, and after that we will take a closer look at the underlying financials of quarter one. and thereafter to the full year outlook 2024. Following the presentation, we will first host a Q&A session for the investor and analyst community, moderated by myself. And after the session, we will have a short break before we continue with the media Q&A, which will be hosted by Pietro. As a reminder, and as always, the safe-haver language and other cautionary statements on page two of our presentation will govern today's presentation. I would like to encourage you to read the disclaimer carefully since all forward-looking statements are qualified by this language. As you know, I won't read it to you. With that, I hand over to Arno. Arno, please go ahead.