Telef—nica is today one of the largest telecommunications companies in the world in terms of market capitalisation and number of customers. We have the best infrastructure, as well as an innovative range of digital and data services; therefore, we are favorably positioned to meet the needs of our customers and capture growth in new businesses. We are sensitive to the new challenges demanded by society today and, therefore, we provide the means to facilitate communication between people, providing them with the most secure and cutting-edge technology. Our vision is focused on technology making people's lives easier and our aim is to promote progress in that direction, so that technology can make a positive impact on the world both socially and environmentally, and, ultimately, so as to provide value and trust in an ever-changing and accelerating world. Digital life is life itself, and technology is an essential part of being human. We want to create, protect and boost connections in life so people can choose a world of unlimited possibilities. We want to be a company in which our clients, employees, suppliers, shareholders, and society in general can trust. In order to achieve this, we communicate our strategy, business model and most relevant data to our stakeholders in a clear and transparent manner, so as to show the company's ability to create value.