Exhibit 7.1



Statement explaining computation of ratio of Earnings to fixed
charges under IFRS



|                                                                                         |  |  |     |  |                         |  |       |                |  |  |                |   |  |      |       |   |      |  |       |      |  |  |       |   |  |  |       |  
|---------------------------------------------------------------------------------------- |  |  | --- |  | ----------------------- |  | ----- | -------------- |  |  | -------------- | - |  | ---- | ----- | - | ---- |  | ----- | ---- |  |  | ----- | - |  |  | ----- | -
|                                                                                         |  |  |     |  | Year ended December 31, | 
|                                                                                         |  |  |     |  | 2012                    |  |       | 2011(Restated) |  |  | 2010(Restated) |   |  | 2010 |       |   | 2009 |  |       | 2008 | 
|                                                                                         |  |  |     |  | (millions of euros)     | 
|Earnings                                                                                 |  |  |     |  |                         |  |       |                |  |  |                |   |  |      |       |   |      |  |       |      |  |  |       |   |  |  |       |  
|Profit (loss) before tax from continuing operations                                      |  |  |     |  |                         |  | (44   | )              |  |  | (2,743         | ) |  |      | 4,128 |   |      |  | 4,132 |      |  |  | 3,339 |   |  |  | 2,894 |  
|Fixed charges                                                                            |  |  |     |  |                         |  | 2,106 |                |  |  | 2,098          |   |  |      | 2,189 |   |      |  | 2,189 |      |  |  | 2,177 |   |  |  | 2,375 |  
|Amortization of capitalized interest and issue debt discounts or premiums                |  |  |     |  |                         |  |      |                |  |  |               |   |  |      |      |   |      |  |      |      |  |  |      |   |  |  |      |  
|Dividends from associates and joint ventures accounted for using the equity method       |  |  |     |  |                         |  |      |                |  |  |               |   |  |      | 1     |   |      |  | 1     |      |  |  | 20    |   |  |  | 54    |  
|Share of losses of associates and joint ventures accounted for using the equity method   |  |  |     |  |                         |  | 7     |                |  |  | 41             |   |  |      | 18    |   |      |  | 18    |      |  |  | 11    |   |  |  | 14    |  
|Capitalized interest for the applicable period                                           |  |  |     |  |                         |  |      |                |  |  |               |   |  |      |      |   |      |  |      |      |  |  |      |   |  |  |      |  
|Share of earnings of associates and joint ventures accounted for using the equity method |  |  |     |  |                         |  | (1    | )              |  |  | (2             | ) |  |      | (117  | ) |      |  | (117  | )    |  |  | (80   | ) |  |  | (79   | )
|                                                                                         |  |  |     |  |                         |  |       |                |  |  |                |   |  |      |       |   |      |  |       |      |  |  |       |   |  |  |       |  
|                                                                                         |  |  | (A) |  |                         |  | 2,068 |                |  |  | (606           | ) |  |      | 6,219 |   |      |  | 6,223 |      |  |  | 5,467 |   |  |  | 5,258 |  
|Fixed charges                                                                            |  |  |     |  |                         |  |       |                |  |  |                |   |  |      |       |   |      |  |       |      |  |  |       |   |  |  |       |  
|Interest expenses (both expensed and capitalized)                                        |  |  |     |  |                         |  | 2,064 |                |  |  | 2,053          |   |  |      | 2,145 |   |      |  | 2,145 |      |  |  | 2,129 |   |  |  | 2,333 |  
|Issue costs and any original issue debt discounts or premiums                            |  |  |     |  |                         |  |      |                |  |  |               |   |  |      |      |   |      |  |      |      |  |  | 7     |   |  |  | 7     |  
|Estimated interest within rental expense for operating leases                            |  |  |     |  |                         |  | 42    |                |  |  | 45             |   |  |      | 44    |   |      |  | 44    |      |  |  | 41    |   |  |  | 35    |  
|                                                                                         |  |  |     |  |                         |  |       |                |  |  |                |   |  |      |       |   |      |  |       |      |  |  |       |   |  |  |       |  
|                                                                                         |  |  | (B) |  |                         |  | 2,106 |                |  |  | 2,098          |   |  |      | 2,189 |   |      |  | 2,189 |      |  |  | 2,177 |   |  |  | 2,375 |  
|Ratio of Earnings to fixed charges (A/B)(1)                                              |  |  |     |  |                         |  | 0.98  |                |  |  | (0.29          | ) |  |      | 2.84  |   |      |  | 2.84  |      |  |  | 2.51  |   |  |  | 2.21  |  
|                                                                                         |  |  |     |  |                         |  |       |                |  |  |                |   |  |      |       |   |      |  |       |      |  |  |       |   |  |  |       |  



|(1) | Due to the loss in 2012 and in 2011, the ratio coverage was less than 1:1. The company would have needed to generate additional earnings of 38 million
euros in 2012 and 2,704 million euros in 2011 to achieve a coverage of 1:1.
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