Telefonica, S.A. (TEF) Q1 2012 Earnings Call May 11, 2012 8:00 am ET Executives María García-Legaz Ponce - Head of Investor Relations Ángel Vilá Boix - Member of The Supervisory Board Julio Linares Lopez - Chief Operating Officer, Executive Director, Member of Innovation Committee and Member of Executive Commission Unknown Executive - Cesareo Alierta Izuel - Executive Chairman, Chief Executive Officer and Chairman of Executive Commission Santiago Fernandez Valbuena - Chairman of Telefónica Latinoamérica and Director of Telefónica Latinoamérica Analysts Jesús Romero - BofA Merrill Lynch, Research Division Torsten Achtmann - JP Morgan Chase & Co, Research Division Georgios Ierodiaconou - Citigroup Inc, Research Division Luis Prota - Morgan Stanley, Research Division Luigi Minerva - HSBC, Research Division Robin Bienenstock - Sanford C. Bernstein & Co., LLC., Research Division Unknown Analyst Timothy Boddy - Goldman Sachs Group Inc., Research Division Will Milner - Arete Research Services LLP Justin Funnell - Crédit Suisse AG, Research Division Paul Marsch - Berenberg Bank, Research Division Keval Khiroya - Deutsche Bank AG, Research Division Nick Lyall - UBS Investment Bank, Research Division Guy R. Peddy - Macquarie Research PresentationMaría García-Legaz Ponce
Good afternoon, ladies and gentlemen, and welcome to Telefónica's conference call to discuss January, March 2012 results. I am María García-Legaz, Head of Investor Relations. Before proceeding, let me mention that this document contains financial information that has been prepared under International Financial Reporting Standards. These financial information is unaudited. This presentation may contain announcements that constitute forward-looking statements, which are not guarantees of future performance and involve risks and uncertainties, and that certain results may differ materially from those in the forward-looking statements as a result of various factors.