Good morning, ladies and gentlemen. 2025 was, in many ways, a remarkable year for the BMW Group and above all, one that set our course for the future. First, we achieved a solid financial result with group earnings of more than EUR 10 billion. Walter Mertl will provide more detail in just a moment. Second, we grew in 2025, selling more vehicles than the previous year and expanding our leadership of the global premium segment. Third, our technology open strategy continued to demonstrate its strength. Demand for cars with combustion engines remained stable, while sales of our all-electric and electrified vehicles continued to grow. Fourth, once again, through our own efforts, we significantly outperformed the EU's CO₂ fleet targets for 2025. Finally, we successfully began the rollout of our Neue Klasse with a BMW iX3, giving the BMW brand and the entire company crucial momentum for the future. All of this shows we deliver consistently and continuously. We have set the right course in recent years and do not need to change our strategic direction. In this way, we can keep the company on track for long-term success. Standing here beside me is the new BMW iX3. This vehicle marks a pivotal moment in the BMW Group's recent history, the series launch of our Neue Klasse. Production of the iX3 has successfully ramped up at our new plant in Debrecen in Hungary. First customers have already received their vehicles, and since last week, the iX3 has been in European showrooms. Demand for the iX3 is significantly exceeding our expectations with strong orders from both private and fleet customers. We are also attracting many new customers who have never driven a BMW before. Our order books for the iX3 are full and reach well into this year. We are exploiting the flexibility of our production and supplier network and increasing capacity in line with demand. The Neue Klasse represents a huge investment. Only a company that enjoys long-term economic success like the BMW Group can invest in its future on such a massive scale. This success is built on three important parameters. I like to call this the BMW Group's strategic triangle. First, our balanced global positioning in sales and production. Second, our attractive product lineup across all brands serving the entire premium segment. And third, our consistent strategic focus on technology openness. I will talk about the last two points in the second part of my remarks after Walter Mertl has spoken. In 2025, we delivered around 2.46 million vehicles to customers worldwide, representing sales growth of 0.5% compared to the previous year. This shows that our business model is robust and resilient. In Europe, we increased our sales by more than 7%, delivering more than 1 million vehicles to customers in Europe for the first time since before COVID. We also made significant gains in the United States of America with growth of 5%, even in a saturated market. In our markets outside the main sales regions of Europe, the United States, and China, we also posted growth despite the overall downward trend with an increase of 3.4% over the previous year. China remains our largest single market. However, due to the intense competitive market environment, our sales development fell short of our expectations for the year. Thanks to the strong overall performance in three of our four sales regions, we nevertheless achieved growth worldwide, and this confirms the strength of our global footprint. Our worldwide presence is a decisive competitive advantage, and all BMW Group brands contributed to this result. Electrified models across all brands, as well as the models from BMW M, were the main growth drivers. The BMW brand once again maintained its position as the global number one in its segment. Demand was particularly strong for core models like the X1, the X3, and the X5, as well as our 3 Series and 5 Series models. BMW M continued its success story in impressive style in 2025, increasing its sales for the fourteenth consecutive year. With more than 213,000 vehicles delivered to customers, BMW M reached a historic all-time high. The BMW M5 and M5 Touring and the X3 M50 were the main drivers of this success. This provides compelling proof of the enduring appeal and growing demand for top-level performance in the premium segment. MINI achieved significant growth thanks to its new model family. Sales increased by nearly 18% compared to the previous year. The main growth driver was the most versatile model in the lineup, the MINI Countryman, accounting for over 32% of the brand's total volume. MINI and electric mobility are a perfect fit, and our customers clearly agree. This is underscored by an impressive achievement in 2025. For the first time, the brand delivered more than 100,000 all-electric models to customers in a single year. That is more than one in every three MINIs delivered. In this way, MINI is making a major contribution to the electrification of the BMW Group. At our ultra-luxury Rolls-Royce brand, the number of hand-built motor cars delivered to clients remained on the high level of the previous year. The value and number of requests for highly individualized bespoke continued to increase, and the home of Rolls-Royce at Goodwood is currently being modernized and expanded to provide more space for both bespoke and the marque's pinnacle coach-built products. BMW Motorrad confirmed its strong market position in the premium segment in the financial year of 2025. Despite a global decline in the total market for motorcycles above 500 cc, the brand delivered more than 200,000 vehicles for the fourth year in a row. Most notably, the R 1300 GS and F 900 GS played a key role in BMW Motorrad's market success in 2025. Ladies and gentlemen, all of this shows that our multi-brand premium approach enables stability and growth. Another major strength of our business model is our ability to meet diverse customers' preferences, different regional requirements, and technological developments in parallel. Our electrified vehicles provide the clearest proof of this. In 2025, we delivered more than 640,000 electrified vehicles to customers worldwide, and that means they accounted for about 26% of our total sales, with all-electric vehicles making up around 18%. Europe stands out, in particular, with electrified vehicles representing over 40% of sales. Plug-in hybrids were also in strong demand in 2025, and all of these factors make the BMW Group one of the leading providers of electric mobility in the premium segment. Thanks to our balanced mix of efficient drive technologies and growth in electrified vehicles, we once again outperformed the legal CO₂ requirements in the European Union. Based on our preliminary internal calculations, we achieved fleet emissions of 90 g of CO₂ per km in Europe in 2025. That once again places us well below the legal target entirely through our own efforts. We do not need to rely on pooling with other manufacturers or even averaging over several years. This provides clear evidence that technology openness and effective climate protection are not mutually exclusive, but go hand in hand. The BMW Group remains fully committed to the goals of the Paris Agreement while setting our own ambitious targets. For example, by 2035, we aim to reduce our CO₂ emissions by at least 60 million tons compared to 2019 levels, and we intend to hold ourselves accountable to this target. We're charting our own course, something that is more important now than ever before. On the one hand, we see that regulatory frameworks in individual markets can be extremely volatile. On the other, we are convinced that the European Union experiment of mandating electrification will not deliver the desired results to the contrary. For this reason, we continue to pursue a long-term holistic decarbonization strategy. We are committed to providing solutions not only for new vehicles, but also for the existing fleet on the roads based on technology openness across the entire life cycles of our vehicles. For this reason, we also integrate fuels such as HVO 100 and advocate for 100% credit in CO₂ calculations. In addition, recognizing and crediting green steel would strengthen the European steel industry and safeguard jobs in Europe. Using more recycled materials in new cars reduces our climate footprint, as demonstrated by our Neue Klasse. A holistic approach strengthens European value chains and keeps the industry competitive. At the same time, it enables effective climate protection and real CO₂ reductions. Companies should be free to provide solutions geared toward customer needs while also investing in appropriate new technologies to meet the European Union's climate goals. As a global player, we stand for free trade and global collaboration. We do not believe in protectionism, but rather in the power of innovation to compete on the global stage. However, with the Industrial Accelerator Act, the European Commission is continuing its protectionist course while not addressing homemade challenges like high energy prices. One thing is clear, without international value chains, the ramp-up of electromobility and the development of powerful battery technologies are not feasible. Labels such as Made in the European Union or Union Origin disadvantage European companies with global value chains if they do not recognize that each euro spent in Europe counts the same for prosperity and jobs, no matter if the car stays in Europe or is exported. Instead, the development of expertise and production for battery cell technologies in the EU should be promoted and effectively incentivized as fast as possible. This year, together with policymakers, we must find realistic solutions that allow us to achieve our climate goals and to strengthen our economy and competitiveness. Ladies and gentlemen, 2025 was shaped by very different developments. Strong growth in Europe and the United States, a much more challenging situation in China, rising competitive pressure, and additional headwinds from tariffs. Nevertheless, the BMW Group continues to deliver a stable performance because we acted early. We adjusted our internal cost structures and maintained our strategic direction. This combination of strong operating performance today and a clear long-term perspective is a crucial success factor for our company. That brings me back to the vehicle standing next to me. The iX3 and the technology of the Neue Klasse testify to our innovation and performance, and it underlines that we are already ahead. Walter Mertl will explain in more detail how our strong operating performance is reflected in our financial figures. We will take a look at 2026 with more new products on the way. Good morning, ladies and gentlemen. For the BMW Group, 2025 was marked by fully leveraging our operating model to deliver solid results in the face of the challenging environment. The year was heavily impacted by tariffs, developments on currency markets, especially in the second half of the year, as well as the intense market situation in China. In the face of these headwinds, we executed consistently on our strategy and took advantage of our flexible global structures. We balanced sales across our regions and our brands. We reduced R&D and CapEx, thanks to early investments in the Neue Klasse, and we drove further cost reductions across the entire company. With this, we were able to deliver on major KPIs in our operational business. A stable group EBT margin of 7.7%, the same as 2024, with group earnings of more than EUR 10 billion. Volume growth to 2.46 million group vehicles. The continuation of our electrification story with an increase in BEV share to almost 18% and XEV share to over 26% of total sales. An electrified share in Europe of over 40%. A CO₂ fleet emissions figure in the European Union of 90 g per km, 2.9 g below the relevant target. An automotive EBIT margin within our guided corridor, over EUR 3 billion free cash flow, and solid capital returns. As I promised at the annual conference one year ago, we have addressed all aspects of costs, R&D, SG&A, manufacturing and material costs, to secure a consistent year-over-year reduction in every quarter. This amounted to an overall auto EBIT tailwind of approximately EUR 2.5 billion for the year. With our diligent management of the business, we have been able to offset a large share of the challenges we faced. Without the full year tariff burden of approximately 1.5 percentage points of EBIT margin, both our group earnings as well as our auto EBIT would have been above the previous year. Let me now take you through our financial figures in detail. For the full year, group revenues totaled EUR 133 billion. Earnings before tax at group level amounted to over EUR 10 billion as anticipated at Q3. This represents a single-digit percentage decline of 6.7%. The resulting group EBIT margin remained stable at 7.7% for the year. Earnings per share even rose slightly year-on-year. If we look at the breakdown of the group performance by segment, the automotive segment delivered EUR 6.3 billion in earnings with an EBIT margin of 5.3%. Motorrad EBIT reached EUR 178 million with a margin of 5.7%. Financial services generated EUR 2.4 billion in earnings before tax and a return on equity of 14.3%. All three operational segments were therefore within their respective guidance corridors. Other entities improved to just over EUR 1 billion in EBIT. The positive trend after nine months continued into Q4. Finally, eliminations amounted to an EBIT of EUR 629 million. This reflects the positive development in Q4 as anticipated. Let's look at how the automotive segment performed across key metrics. Over the course of 2025, the BMW Group sold over 2.46 million BMW, MINI and Rolls-Royce vehicles to customers worldwide, an increase of 0.5% over 2024. Looking at the regions, we see our global model at play as we steer effectively across geographies. As Oliver Zipse highlighted before, sales in Europe and the United States outperformed the market, delivering an increased market share and overcompensating the development in China. We delivered a stable monthly run rate for the BMW brand of around 50,000 vehicles throughout the entire year in China, despite the intense market environment. During the course of the year, we have taken actions to consolidate dealer structures and address pricing, which will underpin the stability in the market. Excluding this Chinese market, global group sales in 2025 grew by 5.9%. Electrified vehicles are both a foundational pillar in our strategy and also a key growth driver, thanks to our expanding portfolio of attractive products. Oliver Zipse has already taken you through the figures in detail, but the highlights were a total of 642,000 electrified vehicles delivered in 2025, representing solid growth of 8.2% and an overall XEV share of over 26%. Deliveries of all-electric vehicles of 442,000 units for a share of almost 18%. Revenues in the automotive segment came in at nearly EUR 118 billion, 5.9% below 2024. Approximately half of this decrease is due to negative currency effects. The remainder results mainly from global pricing pressure. Let's look at the year-on-year automotive EBIT result in detail, coming from our previous year's earnings. The net balance of currency and raw material positions resulted in a headwind of EUR 600 million. Negative trends in FX outweighed the slight positive effects from raw materials, particularly in the second half of the year. This adverse FX development is expected to carry into the first half of the current year, mainly in Q1. Compared to 2024, the net effect of volume, model mix and pricing weighed on automotive EBIT by a total of EUR 1.8 billion. The overall mix effect was positive, driven notably by a strong share from the mid-class, including 5 Series growth, as well as a record M performance. For the full year, pricing was a significant headwind of EUR 2 billion. In line with our planning, we continued to decrease operating costs in 2025. As planned, we reduced R&D expenses following the peak in 2024, with a nearly EUR 800 million reduction year on year. SG&A savings represented EUR 900 million, continuing the trend from the first nine months. Other cost changes amounted to a headwind of EUR 800 million. This development resulted from a few areas. On the one hand, tariffs had a negative impact of approximately 1.5 percentage points on the auto EBIT margin. In addition, a softening market on residual values weighed on earnings. They remained positive, but lower than the previous year. On the other hand, warranty expenses were significantly lower year on year, as outlined at Q3. An additional positive effect came from a high three-digit million saving in manufacturing costs and material costs. Overall, we reduced costs by EUR 2.5 Billion for the full year through our active steering of R&D, SG&A, and manufacturing costs and material costs. Through this, we were able to offset all headwinds except a portion of the approximately 1.5 percentage point tariff burden, resulting in a net year-on-year decrease of 1 percentage point in EBIT. In total, segment earnings in 2025 reached EUR 6.3 billion. The automotive EBIT margin came in at 5.3%. Excluding the EUR 1.3 billion depreciation resulting from the PPA of BMW Brilliance Automotive, the EBIT margin reached 6.4% for the year, and that still includes the headwind of approximately 1.5 percentage points from tariffs. As you know, our focus is consistently on our reported figures. Due to different approaches in the industry, however, consideration of PPA and tariff burden ensures better comparability of operational performance. Looking at R&D and capital expenditure in detail, we made early investments to implement our strategy, which we see as we look at R&D and CapEx development in 2025. Group expenditure for research and development, according to German Commercial Code for the year, amounted to EUR 8.3 billion. This is a decrease of nearly EUR 800 million or 8% below the peak of EUR 9.1 billion in 2024. This translates to an R&D ratio of 6.2%. Given the lower revenue, the ratio only declined slightly year-on-year. Group capital expenditure totaled EUR 7.2 billion, a year-on-year decrease of over EUR 1.8 billion from the peak of EUR 9.1 billion in 2024, or a 20% reduction. This resulted in a ratio of 5.4%. The CapEx ratio, excluding right-of-use assets, came in at 4.9%. As promised, R&D and capital expenditure have already significantly decreased from their peak in financial year 2024. Despite the rollout of models of the Neue Klasse, we will maintain this trend going forward. This means in both absolute and relative terms, we are heading back towards our strategic corridors, which are 4%-5% for R&D and less than 5% for CapEx by 2027. Moving to free cash flow. Total segment earnings before tax amounted to EUR 5.9 billion for the year. Working capital contributed positively with EUR 900 million, mainly due to strict management of inventories. The net effect from capital expenditure and depreciation reduced free cash flow by EUR 2.3 billion. Changes to provisions had a negative impact of EUR 1.3 billion, mainly due to the utilization of warranty provisions. Following the EUR 2.7 billion figure communicated at Q3, free cash flow developed positively in Q4 and reached EUR 3.2 billion at year-end. This was in line with our expectations of above EUR 2.5 billion for the year. Our financial strength is further underscored by our automotive net financial assets. At year-end, this came in at over EUR 44 billion. Let's now turn to our financial services segment. As a key component of our BMW ecosystem, the segment consistently contributes to group profitability. In 2025, new business developed positively throughout the year with nearly 1.73 million new financing and leasing contracts concluded. This represents growth of almost 2% year-on-year. The increase is due in particular to the positive business development in Europe, as well as the changed competitive environment in China in the second half of the year. Since the end of June, the market situation has been influenced by the significant reduction in commissions from the local Chinese banks in connection with the brokering of financial and insurance products for end customers. Penetration rates for lease and loan offerings increased by 4 percentage points to 46.6%. Overall, new business volume at financial services reached an all-time high, growing by 2% to EUR 65.8 billion despite negative currency effects. Segment earnings before tax reached EUR 2.4 billion. The moderate decrease compared to 2024 is due to lower income from the resale of end-of-lease vehicles, as well as tax payments related to changed assessments of operating taxes from previous years. Residual value remained positive, but lower than the previous year. The credit loss ratio of 0.28% was within our expectation. Return on equity for the full year reached 14.3% and therefore within the guided target corridor of 13%-16%. Ladies and gentlemen, in 2025, the BMW Group achieved group earnings before tax of EUR 10.24 billion. Thanks to a stable year-on-year profit attributable to shareholders of BMW AG amounting to EUR 7.29 billion. The Board of Management and the Supervisory Board will propose to the Annual General Meeting a total dividend payment of EUR 2.6 billion. The proposed dividend represents a payout ratio of 36.6%, which is consistent year-over-year and in the upper half of our strategic target range of 30%-40%. This amounts to a dividend of EUR 4.40 per share of ordinary stock and EUR 4.42 per share of preferred stock. Additionally, we completed the second share buyback program in early 2025, before starting the third program after the AGM in May. The total from both programs amounted to a payout of EUR 1.25 billion in 2025. Our third share buyback program will run until April 2027. We are currently running the second tranche of this program with a volume of EUR 625 million for ordinary shares. That will be completed by August 31st, 2026, at the latest. The third tranche is earmarked for after that. For the financial year 2025, the total shareholder return of close to EUR 4 billion, comprising the proposed dividend and share buybacks, exceeds free cash flow in the automotive segment. This further underscores our commitment to capital returns. That brings me to our outlook for the current financial year. What are our expectations for 2026? In Europe and the USA, we see some growth potential. In China, we have responded to the market environment by taking a number of steps to stabilize transaction prices. Average sales figures over the past few months indicate that sales in China could reach last year's level. Consequently, we forecast global deliveries of BMW, MINI, and Rolls-Royce vehicles to be at previous year's level. Due to model cycle effects as well as shifting regulatory and market dynamics, we also expect the share of fully electric vehicles to be at the same level as the previous year. Turning to auto EBIT development, we continue to work diligently on reducing costs and will see tailwinds from reduced investments, lower manufacturing and material costs, declining R&D expenditure, as well as reduced SG&A in the 2026 financial year. We anticipate a negative impact of approximately 1.25 percentage points from tariffs on the auto EBIT margin compared to the 1.5% in 2025. Given the significant investments made into Neue Klasse in preceding years, we will see a material increase in depreciation and amortization from both CapEx and capitalized R&D. While we will continue to make significant reduction in R&D expenditure, the additional depreciation and a lower capitalization ratio, which is expected in the 30% area, will result in a significant P&L burden. Other headwinds in 2026 include FX and raw materials, the measures taken in China to stabilize transaction prices, and finally, lower income from used car remarketing. The reductions we will achieve on the cost side will not fully offset these headwinds. We therefore expect an auto EBIT margin in the corridor of 4%-6% in 2026. The corresponding ROCE in the automotive segment is forecast to be between 6%-10%. In the financial services segment, we again anticipate a return on equity of 13%-16%. Putting this all together, we expect group earnings before tax to be moderately lower than the strong result in 2025. The full 2026 outlook for all key performance indicators is available in the BMW Group Report. In addition, we expect the free cash flow in the automotive segment at the year-end over EUR 4.5 billion. Ladies and gentlemen, for 2026, we will continue to systematically implement our strategic course, particularly with the launch of Neue Klasse product offensive and the roll out of its technologies across the portfolio. We will leverage flexibility in our global business model to tackle the challenging and dynamic operating environment. At the same time, we will manage our operational business with continued focus on cost discipline. This will enable us to deliver financial results in line with our guidance and generate strong return to shareholders. Ladies and gentlemen, let me pick up on Oliver Zipse's comments regarding sustainability and CO₂ emissions before I hand back over to him. For the BMW Group, we view sustainability holistically and as a competitive advantage. That is why we, in our annual reporting, disclose our sustainability performance fully to our investors and customers. In line with our strategy and our commitment to the Paris Agreement, the BMW Group considers the CO2 emissions of vehicles both for the new and existing fleet over their entire life cycle, from raw material extraction and parts production to the manufacture of vehicles and across the use phase to the vehicle's end of life. We address all stages of the value chain with ambitious targets. However, European CO2 fleet emissions regulations focus only on the use phase and do not recognize the full reduction potential along the entire value chain. When it comes to reporting, emissions shown in sustainability statements do not always correlate to the actual generation of emissions of all vehicles on roads. For the 2025 financial year, the BMW Group reporting includes all vehicles sold in the year across their life cycle, including the CO₂ emissions from the supply chain for vehicles produced in the reporting year from BMW Group production, from the assumed use phase of 200,000 km for vehicles delivered in the reporting year based on the consumption mix of the reporting year, and from end-of-life disposal for vehicles produced in the reporting year. However, the use phase emissions reported in line with European frameworks in 2025 do not consider all existing BMW Group vehicles still in use, but rather only those vehicles sold in the reported year. This means that European reporting frameworks neglect the reduction potential of the existing vehicle fleet. Here, there is significant leverage to quickly contribute to CO₂ reductions through use of e-fuels and carbon-neutral fuels such as HVO 100. Immediate credit should be given starting, for example, in 2027 for the CO₂ reductions achieved using sustainable fuels, which should not be subject to limitations such as caps on specific gram per km values. The European regulatory framework should reflect this holistic approach towards reducing overall emissions in the here and now in both the new and existing vehicle fleet, because ultimately every gram of CO₂ saved counts. That is what we at the BMW Group believe and what makes a true societal impact. I now hand back over to Oliver Zipse to provide additional strategic insights for 2026 and beyond. Ladies and gentlemen, looking ahead to this year and beyond, three key factors will be decisive. First, for our 2026 targets, the product lineup is currently available, which we have built up gradually over the past few years. Second, for this year and the years to come, the rollout of additional Neue Klasse models and integration of its technologies across the entire product range. Third, the tech clusters of the Neue Klasse which enable rapid advances and collaboration with leading tech players worldwide. Let's start with the first item. The company's current product portfolio across our BMW, MINI, Rolls-Royce, and BMW Motorrad brands offers a range of premium options in all key segments. From MINI in the urban compact car segment to Rolls-Royce in the ultra-luxury class. At the beginning of this year, we added another highly exclusive dimension to our brand portfolio, BMW Alpina. The long-established BMW Alpina brand embodies maximum performance and exceptional driving comfort, combined with unique options for individualization. This makes it an ideal addition to our existing product range in the segment for individual, highly customized vehicles. In this way, we are tapping into a highly profitable segment with great growth potential positioned above the BMW brand's top models and below our Rolls-Royce luxury brand. Overall, the BMW Group offers one of the industry's most comprehensive and diverse premium portfolios. A core strength of this lineup is our consistent focus on technology openness. We committed early to a market-driven mix of different drive technologies. With this approach, the BMW Group continues to chart its own course, enabling us to systematically respond to the diverse requirements of markets and customers well into the future. Because we choose this path early, making the necessary investments at the right time, we can now fully realize the market potential of our products. Today, we offer battery electric vehicles in all relevant segments, and by the end of the year, we will have a total of 20 BEVs across all brands. This will further strengthen our competitive position. At the same time, plug-in hybrids also remain important. This is not just a bridging technology. For many people in all regions of the world, they are the only way to integrate electric, locally emission-free mobility into their everyday lives. Together with our range of highly efficient combustion engine, this approach provides maximum flexibility, ensuring that regional market opportunities can be consistently exploited. This strong lineup lays the core foundation for the company's business success in 2026 and beyond. At the same time, and that brings me to my second point, we are systematically building on our current advantage with the Neue Klasse. With the release of the BMW iX3, the market launch of the Neue Klasse has just begun, and this is only the start. Additional all-electric models with the new design and innovations of the Neue Klasse will follow. Another notable highlight will be unveiled next week when we present the BMW i3, the first variant of the next generation of the BMW 3 Series. The new i3 brings our Neue Klasse right into the heart of the BMW brand. Prepare to be amazed by what the technologies of the Neue Klasse can do in a vehicle like the 3 Series. I think it is fair to say that they take sheer driving pleasure to a whole new level. Here's a sneak preview of what we will be unveiling next week. Ladies and gentlemen, I am looking forward to presenting this incredible car to our BMW fans worldwide next week. After that, we will meet again at Auto China in Beijing to introduce the Chinese version of the iX3 as the next Neue Klasse model. We developed this vehicle exclusively for China together with our local R&D team in the market, ensuring that the product meets the specific wishes and needs of our Chinese customers. The result, the most Chinese car we've ever built. Initial feedback from the local media has been overwhelmingly positive with praise, in particular, for its driving characteristics. The China-specific digital features have also been very well received. In 2027, BMW M will usher in a new era in the high-performance segment with the first all-electric M vehicle with racetrack capabilities based on the Neue Klasse. Alongside development of the Neue Klasse, we've also created the essential conditions for rapid ramp-up with our supplier and production network. Production of the iX3 has successfully begun at our new plant in Debrecen. We will start production of the new BMW i3 at our main plant here in Munich in the second half of the year. To do so, we have completely modernized the plant during ongoing operations. From late 2027, we will build only electric vehicles in Munich. Production of high-voltage batteries will also begin at our new plant in Irlbach-Straßkirchen in the second half of the year. This facility will supply our plants in Germany with the sixth-generation high-voltage batteries. Our plant cluster in Shenyang in China is also ready to build the Neue Klasse in China for China. At our largest plant in Spartanburg in the United States, we are systematically modernizing the production system for the technologies of the Neue Klasse. This also includes the new high-voltage battery assembly facility in nearby Woodruff. Across all plants in our production network, we are creating the necessary conditions to implement the technologies of the Neue Klasse as quickly as possible in all BMW models. Between now and 2027 alone, we will bring more than 40 new or updated models to the market. Each of them will benefit from the technologies of the Neue Klasse, always tailored to concept requirements and independent of the drive technology. The best example of this is the next generation of our BMW X5. This summer, we will officially unveil the successor to our current model, and the X5 will be the first BMW model to be offered with five different drivetrain variants, with highly efficient conventional drives as a plug-in hybrid, battery electric, and from 2028 onwards, also powered by hydrogen. In this way, we are laying the foundation to successfully meet the diverse requirements and customer needs around the world, both today and in the future. Shortly before that, at the Auto China, we will be showcasing the first model update to feature technologies from the Neue Klasse, the BMW 7 Series. The result is an almost completely new vehicle. We're taking full advantage of the new possibilities from Neue Klasse technologies and raising our luxury sedan to a whole new level in terms of both appearance and technology. This brings me to my third point, the technology clusters of the Neue Klasse and their potential. With the technology clusters developed specifically for the Neue Klasse and our modular approach to technology, we can integrate market-specific functionalities and content into our vehicles. At the same time, we are strengthening our R&D capabilities to enable us to respond more quickly and flexibly to local customer needs and provide appropriate solutions. In our key sales regions, we have already implemented numerous features in collaboration with leading local partners. For example, in the Chinese market, we are working with Alibaba Banma to establish the next generation of intuitive in-car voice control. In China, the BMW Intelligent Personal Assistant is also being expanded to include DeepSeek functionality. In most markets, including Europe, we will be integrating Alexa+ as the centerpiece of our BMW Intelligent Personal Assistant. Thanks to the advanced large language model technology of Amazon Alexa+, our customers now benefit from an even smarter, more connected, and highly personalized voice assistant. With our driver assistance systems, we continue delivering the best possible customer experience in each region tailored to local requirements. To achieve this, we work closely with selected partners. Our guiding principle remains the same. We always strive for smart, symbiotic, and safe solutions. Last summer, we launched a new cooperation in China with Momenta, a leading local provider of ADAS technology. Outside China, we are collaborating with the American company Qualcomm. Both collaborations focus on the co-development and integration of software that adapts to different road conditions, traffic scenarios, and user needs, relying on state-of-the-art AI algorithms and data-driven methods. These examples highlight the extraordinary flexibility and scalability of our tech clusters. With the software-defined Neue Klasse, we maintain control over all systems and can deploy them simultaneously worldwide. We are also able to rapidly integrate local technology stacks, giving our customers access to their preferred innovations and features. Continuous over-the-air updates ensure that our vehicle software is always up to date. All functionalities are improved on an ongoing basis to permanently enhance the customer experience. Ladies and gentlemen, as you can see, the BMW Group remains successful and highly innovative. Our current product range is one of the broadest and most attractive lineups in the premium segment worldwide. With the Neue Klasse and its technologies, we have secured a significant competitive advantage, and we will leverage these strengths to drive our economic success. However, it is also clear that our world remains unstable and numerous risks will persist in the current financial year. We meet these challenges with strategic consistency and with market and opportunity-driven vision. Our global footprint in sales, research and development, and production provides us with a foundation to mitigate uncertainties and respond flexibly to unforeseen events. We will continue to build on these strengths in 2026 and, of course, in the years to come. Thank you very much.