Thank you. Good morning, everybody. Welcome to our conference call to the first three quarters of the 2020/2021 financial year. Like always, you can find the presentation for this call on our website. The call will be hosted by Alfred Felder, our CEO, and Thomas Tschol, our CFO. Alfred will start the presentation. Thomas will give you more details on the financials of the first three quarters. May I now hand over to Alfred to start his presentation? Good morning, ladies and gentlemen, Alfred Felder speaking. Warm welcome to our call today on the Q3 numbers. Before I hand over to Thomas Tschol, I would like just to show you on the summary page two a couple of highlights for the Q3. Obviously, in our business, with the lockdown, we have been seeing deteriorating numbers, especially in the segments retail and partly also in the office. We had started a push program on those system relevant businesses, especially on the e-commerce, especially on the topics where new investments has been done. What you see here as an example out of many, we have been able to win a couple of projects in new customers like Amazon, in logistics halls, in industry halls, where we see a very sustainable growth across all Europe. You see a couple of examples, typically turnkey solutions, what concludes lighting out of our portfolio of the different brands and including the controls like the last one, what we did for the University of Southern Denmark. It's just an example of many projects what we had, where we have been able to compensate partly the loss, what we suffered, especially in the non-system relevant retail and lately in a flat development of the office environment with the home office situation. We also started already in Q2 with two major programs. One is listed here, the focus on sustainability, where we have launched the key initiatives on structure to accelerate not only our drive towards CO2 reduction and neutrality, but also focusing on circular economy. The launch window in March, that we have done this week, to be exact, yesterday, already included two products that have been designed based on circular design guidelines, we will accelerate this moving forward. The second topic is the start of a digital initiative, obviously triggered by the pandemic, of course, where we are investing substantial amount of money over the next years in the digitization of our company. I also would like to announce that goes out in parallel with the announcement of the Q3 figures, that we will have a change in the management board that Thomas Erath, who is currently the CFO of Tridonic and a long member of the management team in the group, will join the management board effective August 1st, 2021. Thomas Tschol, who has been with us more than three and a half years, helping us to transform the company from a loss-making company into a robust balance sheet company, will, as planned, leave the company by the end of July. This will guarantee, and I think it's also something what is not new to the company, but good for the company in a smooth transition and the handover of the financial responsibility within the group. With that, I would like to hand over to Thomas, who will guide you now through the financial situation, both on the group components and luminaire business. Thank you very much, Alfred. Yes, good morning, ladies and gentlemen. I would like to start by giving you a brief overview on the financial highlights of the first nine months of this fiscal year. Obviously, the first three quarters have been negatively affected by the impact of the COVID-19 pandemic, and the revenues fell by almost 13%. However, on a positive note, we have seen further progress on the slow upward trend. This is to say that in the third quarter, decline was reduced to roughly 9%. In addition, despite the drop in revenues, we are clearly in the black and closed the first nine months with positive earnings and a substantial increase in the free cash flow. Anyway, as mentioned, group revenues are down by 12.9%. Adjusted for FX, the revenues would be at -11.8%. The negative currency translation effects resulted primarily from the devaluation of the Turkish lira, the British pound, and the US dollar against the euro, but they were partly offset by the appreciation of the Swiss franc. The top line decline is coming from both segments. Lighting segment is down by 12.2%, and the Component segment is down by 15.1%, meaning also clearly below previous year level. Just here in the Component segment, we have to keep in mind that we had this advanced stock purchases by many customers at the beginning of the global lockdown, so roughly one year ago. This led to substantially lower order levels in the first quarter of this fiscal year. This is the main reason for the Component segment being in the top line or in the decline below the Lighting segment. Anyway, the development was different between the markets. Our core DACH market avoided a double-digit decline and was down by 7%. The markets in Great Britain, France were particularly hit by the crisis, with declines of roughly 23% in the U.K. and about 16% in France, as well as in Italy. The group adjusted EBIT decreased from roughly EUR 47 million to roughly EUR 28 million, as the gross profit was EUR 45 million below previous year level as a result of the decline in the top line. However, the positive earnings have been supported by cost savings and the utilization of the short-time work options. As a consequence, the SG&A costs were EUR 28.6 million lower than in the previous year, and the largest savings were realized in personal costs, in travel expenses, marketing, and in lower transport costs, which resulted from decline in the revenues and the lower volume in shipments. The good news here is that the development of earnings during the first three quarters confirms the strength and stability of the Zumtobel Group due to the measures that have been implemented in the past two financial years. This development also shows the success of our quickly implemented effective crisis management in dealing with the COVID-19 pandemic. Below the line, the net profit was at EUR 14.9 million. We have recorded one-off costs for restructuring measures of EUR 0.4 million in the first three quarters. They were related primarily to costs for the termination of production at the acdc plant in Barrowford, in the U.K., as well as write-offs of production equipment and some restructuring of back office activities. On the other hand, these restructuring costs were partly offset by the release of provisions related to the premature cancellation of a lease contract, also to the restructuring of the Europhane, where we had some release of provisions that we have built, and also an agreement in a legal dispute that has been closed. The pandemic situation obviously remains uncertain, but we expect full recovery in our business on a year on year increase in revenues during the fourth quarter of this fiscal year. We also assume that the operating result from the group, our adjusted EBIT, will be positive in the fourth quarter. Let me now move to the next chart to give you more details on the development of each segment. The Lighting Segment, as usual, you can see the revenue development by quarter on the left-hand side and the adjusted EBIT development on the right side. As mentioned before, the revenues in third quarter decreased by 8.8%, and after adjustment for effects, revenues would decrease by 7.4%. On the right-hand side, you see the adjusted EBIT development. Here the good news is that despite the decreased top line, the adjusted EBIT in the third quarter is at EUR 2.4 million, even slightly above the previous year. This is a satisfactory level given the top-line development, and obviously this was achieved with strict cost control and also by using the short-time working options. On slide number five, the Component Segment. Here the revenues were down by 9.1% in the third quarter, and the revenue development was negatively influenced by the devaluation of the Turkish lira. After an adjustment for FX, the segment was declining by 6.4%. Anyway, the revenues, as you can see, they have been stable over the past quarters at around EUR 73 million per quarter. In the past quarters, we have always been talking about the strong price pressure Tridonic is facing, h owever, the price pressures in current fiscal year has been down by only approximately 1% versus previous year. This was also supported by the logistic surcharge of 3.5% that Tridonic was charging on additional logistic costs they have been facing when the crisis started. This means mainly during the first quarter. On the adjusted EBIT level, the profitability fell to 5.1% as a result of the lower contribution that Tridonic was facing. On slide number six, the group revenues and the EBIT development. The slide six shows the combined results of both segments, and I think there is not too much there. Let's move on to slide number seven. There is the group adjusted EBIT bridge. On the left side, you can see the prior year adjusted EBIT for the first three quarters of EUR 46.9 million, and the absolute gross profit of the group before R&D decreased by EUR 45 million. What is the result of the EUR 112 million lower revenues versus the previous year period? R&D was slightly increased by EUR 1.5 million and the SG&A, as I was already mentioning, we could realize significant cost savings versus previous year and amounting to the EUR 28.6 million. The other operating results, excluding the special effects, were slightly above the previous year level and this brings us all together to an adjusted EBIT of EUR 27.7 million in the first nine months of this fiscal year. On slide number eight, you see the income statement. There also is not too much to add. Maybe the financial result, it improved by EUR 1.6 million compared to previous year, and the interest expense as a consequence of the lower net debt was down by EUR 1.3 million compared to previous year. As already mentioned, we have a bottom line net income of plus roughly EUR 15 million, which is, from our point of view, given the circumstances, a very satisfactory level for us. On slide number nine, we come to the cash flow statement. Here is, I think we have very positive news. Cash flow-wise, the cash flow from operating results fell from EUR 86 million in the first three quarters of the previous year to the roughly EUR 81 million in the first nine months of this fiscal year, and of course, as a result of the lower operating result. Regards to the working capital, the working capital totaled EUR 166 million compared to EUR 176 million in previous year. Therefore we had a slight improvement or slight cash inflow from the working capital in the first nine months. We had significant inflows from the change in other operating positions that totaled EUR 6.5 million. This is primarily due to a decline in other receivables and the higher balance of prepayment that we have received. Consequently, the cash flow from the operating activities increased from EUR 72 million- EUR 84 million in the first three quarters. Also the cash from investing activities was significantly lower year-over-year. It was at EUR 24 million and compared to the EUR 38 million in the previous year. Anyway, the free cash flow improved significantly to plus roughly EUR 60 million compared to EUR 33 million in the first three quarters of the past financial year. Let's move on page number 10 to the balance sheet data. A quick look at the balance sheet and in particular our liquidity position. Of course, as a consequence of the strong cash flow, the net debt decreased to EUR 123.7 million as of end of January. This is more than EUR 14 million below the value that we had at the beginning of this fiscal year. Our liquidity situation is still backed by a consortium credit agreement with a term ending in November 2022 and a maximum volume of EUR 200 million, thereof only EUR 16 million has been drawn. Two long-term credit agreements of EUR 40 million each with the European Investment Bank. Here we have full repayment in September 2024, and February 2025. Both have been fully drawn. [inaudible] special firm credit for large enterprises of roughly EUR 40 million, thereof EUR 30 million were drawn, and on top of that, uncommitted lines of credit totaling roughly EUR 63 million. To sum it up, strong balance sheet that secures our liquidity position in the current crisis. Regarding our financial covenants, as you know, we have two financial covenants attached to the financing agreement, namely the debt coverage ratio of less than 3.55 and equity ratio of more than 23.5, and these financial covenants are stress tested end of October and also end of April, and anyway, we see today no risk to meet the covenants. This is all with respect to the financial development in the first nine months. I think we reacted quickly to this exceptional situation and have systematically adapted our business activities to meet the changing demands in the various markets. Given the difficult circumstances, I think we can be satisfied with the development of our results and the liquidity position that we have, highlighting once again, especially the strong development of the free cash flow and the net debt. However, needless to say that we will need to continue the good effort in particular looking ahead into the challenging fourth quarter and the upcoming financial year 2021/2022. Now, I will hand over to Alfred to provide you with a brief update on the regional sales developments and the outlook for the next fiscal year. On page 11, you see the curves over the last fiscal years in the quarters. Obviously what you see here, Thomas mentioned it already, if you take this quarter one, what was the worst drop, May, June, July. We are slowly but constantly on our way up with -13.9% in Q2, sorry, and 8.8% in Q4. You see that will continue when we took the outlook, and we believe that quarter four will be above quarter four last year, knowing obviously that we have been suffering in the last months of quarter four last year quite substantially with a drop in revenue, especially on the lighting brands. If you go on the page number 12, you see how, especially the Q3 numbers developed in the different territories. As part of our strategy, a special focus has been given on the DACH region, where we have the high margin businesses, and we clocked here at 79.1%. Which in quarter three was only a drop of -2.5%, or cumulated Q1 to Q3, -7% here to say. Austria and Switzerland are almost on pre-COVID levels here, where Germany is slightly behind and in the recovery mode also here. A little bit a different picture in Northern and Western Europe where we have Benelux, Nordic, and U.K. in there. U.K. obviously suffering on both the final Brexit situation as well as the COVID. Nordic, with the different waves, especially in Sweden, where we have seen in a later development, especially Q2 and Q3, a quite significant deterioration of the business, with then -14.5% or in total for the key countries, -18.6%. Here, I have to say, since beginning of Q3, so November, December timeframe, we are seeing a constant positive development in U.K., and that is also continuing now, even at a stronger pace, in the Q4, where with the higher vaccination rate as well as the outlook on better planability, we see that budgets are released, and we are seeing this in our order intake already, especially here in that territory. Southern and Eastern Europe, different waves, while Italy and also France was recovering in Q3 compared to the Q2 and Q1 numbers. It's different in Eastern Europe, mainly affected by the heavy infection rates, especially in the Czech Republic and the neighboring countries, what makes it more difficult to bring goods in, to install the goods, especially in the Czech Republic. At the moment, we are completely locked out and suffering here. A different picture in Asia Pacific, where over the last quarters, we have almost been able to get back on the pre-corona levels. You see Q1 to Q3, -5%, where the Q3 is already positive. We are now waiting of the lockdown release, especially in South Asia, which is the remaining territories where we have difficulties, but that also shows a positive trend. Last but not least, the Americas, where obviously South America, even though that was not a big revenue-driving business, is more or less since, yeah, almost three quarters on a 10%-20% level in the different countries we are operating. Especially the Q3 was extremely difficult also for the U.S. as this infection rates was exploding. All in all, -8.8% in Q3 or cumulated, like Thomas said already, the 12.9%. On the last page 13, we do see that there are challenging market environments, different in different countries. What we also see since January, an increase of raw material, especially on copper, steel, and aluminum, and also partly a 3.5x higher freight costs, especially for shipments that are coming either via sea or via air or via rail from Asia. In addition, due to the, let me say, bounce back also on the automotive, especially the e-car industry on the components level, we are partly suffering on allocation for certain semiconductors that are simultaneously used in the car industry, even though up to now, everything is perfectly under control. Nevertheless, we do see the positive trend in our business. We do see in a lot of countries the investment volume coming back, also partly with larger projects, what are in the pipeline, so that we believe that the Q4 of this fiscal year will be above one. You might say, "Well, that's not so difficult because your Q4 in last year was already a shrinking quarter." That's true. It's part of the lighting brand. On the Tridonic, the Q4 was perfectly intact because we had mainly an issue where customers were allocating, parts from Tridonic, and Tridonic was suffering mainly in the Q1. Nevertheless, we believe that we will be having a quarter which is above the last fiscal year. On the EBIT number, you see the lower edge, what basically indicates a EUR 28 million. On the top line, the minimum would be that the EUR 260 million is exactly the Q4 results, what we have achieved in 2019/2020. With that, we would like to come to a conclusion on the general presentation and now are open to your questions on the Q3 numbers and beyond. Ladies and gentlemen at this time we will begin our question and answer session. Anyone who wishes to ask a question may press star followed by one on the touchtone telephone. If you wish to remove yourself from the question queue you may press star followed by two. If you are using speaker equipment please lift the handset before making your selection. Anyone who has a question may press star followed by one One moment for the first question, please. The first question is [inaudible] of Markus Remis of RBI. Please go ahead. Yeah. Good morning, gents. Thanks for taking my questions. Let me start with one related to the FX effect on the cost side. You elaborated on the top line, but how did currency movements impact your cost base? I'm particularly thinking about US dollar sourcing. Yeah, I'll have them one by one, please. Yes, of course. The US dollar had a positive impact, as we purchase our raw materials in the Component Segment in US dollar. This compares positively to previous year and also to budget. The overall effect, compared to budget, is around EUR 3 million-EUR 4 million. Yes. Coming to the input cost inflation you've mentioned. To which extent do you think you will be able to somehow compensate this via price increases? Thinking about the logistics surcharges you've introduced for components. Is there any way you can pass this on? Yeah to a larger extent? How would you think about, this is apparently is a topic for the whole industry, how disciplined do you think are your competitors in this respect? A very good question. Obviously we have reacted already on both businesses due to the fact that Tridonic has a large manufacturing setup in China and also w e, on the lighting, are sourcing some of the luminaire based on our specifications from third-party sources. We have increased the prices for those products and have set a surcharge of 3.5% logistic cost for both businesses, what we have rolled out already to our customers. In addition, what I mentioned due to the upcoming increases of raw materials on copper, steel and aluminum, we have done the same also, especially on the lighting brands. Your question regarding our competitors. We do see across the globe that obviously this is affecting everyone in the market, and that we are seeing that also our competitors are doing the same as those increases are so substantial. Currently, we are having, for both businesses, a price increase out in the market, and we are also seeing an understanding of the customers. Okay. Do you think this will cover the entire cost inflation, or will there be some kind of residual margin squeeze left? Well, I think when we talk about logistics cost, obviously when everything will ease out again, we have to remove this. Same would be then on the raw materials. We believe, and I think we have mentioned it in one of the beginning slides, that the whole, let me say, price decrease has been reduced to a minimum. On the Tridonic level, it was over three quarters, 1% and o bviously w e believe that that will then result in a slight margin increase in a tight market where we aim. All right. Okay. My third question relates to the topic of free cash flow. CapEx has been contained at a very low level. I think your most recent guidance was something around EUR 45 million for the entire business year. Is that still plausible? Will we see this pick up then in the fourth quarter? Also related to the working capital, how much more can be done in Q4? Or put differently, what level of net debt do you expect at year-end? Of course, with regards to CapEx, we have been on average around EUR 8 million per quarter, which is very low. Related really to this CapEx control, it will be higher in the fourth quarter also due to the program that is in place in Austria to support on CapEx spending with 7%-14% reduction. Subsidy I would expect between EUR 35 million and at the upper end, EUR 40 million with respect to CapEx. Again, the free cash flow also should be positive in the fourth quarter. With regards to the net debt, I would expect a slight decrease again compared to the value as of end of January. We have to keep in mind that we have to re-evaluate our IFRS 16 assets. This is the right of use of all the lease contracts that was necessary to implement two years ago. Every two years, you are obliged to review the contractual situation that you have, and then with this review, that the ROU, the right of use assets are going up, and also the liability is going up. That goes into the net debt. Here we expect around EUR 10 million-EUR 15 million just out of this reevaluation of the IFRS 16. Of course, the goal is that we can compensate this by a positive operating free cash flow so that the net position is still going down. Very clear. Can I just ask you on the order book at the end of the third quarter, and how did it develop then into February? I think you mentioned something about some positive trends in the U.K., for instance, and also you said Austria and Switzerland, almost at pre-crisis levels, which I would just struggle to reconcile. Is that the current order book, or is it the expectations where we're moving to? Basically, let me explain first with the last one on Switzerland and Austria. In Austria, at the beginning of the fiscal year, so at the beginning of the crisis, compared to the year before, we had developed a couple of larger projects, what fortunately for us, have not been canceled or postponed. That means that we have at the beginning of this fiscal year, a higher order book compared to the beginning of the fiscal year 2018/2019. In addition, we have in Austria a couple of key customers what are in the retail system relevant, if I may ask, REWE, SPAR, Aldi, and Lidl, who basically were investing more than the normal. That was the situation in Austria. In Switzerland, the situation was that Switzerland was, until, I would say, the last lockdown, more or less open all time. That was with the exception of one canton, Ticino, close to Italy. almost no restriction in the way of operating. The electricians, the projects were online. We are just seeing now a little bit of a shift of the projects, especially starting in Q3 and Q4 here. When you ask about the order book, we do see that our order book since, let me say, September timeframe, is increasing and is currently, and we are proud of that one, above the previous year. Entering, and that's already- Okay until, let me say now, calendar week 10 was the first effect that we saw. In two weeks from now. It's all pre-COVID. Here, we are quite confident that this is the case. What I said about U.K., in the U.K., it's very transparent because since December timeframe, and we are seeing a constant development of the order book, what made us believe that this is now first time something what is a little bit more sustainable. You know, with the different waves, that I'm not counting this anymore in the different countries. The moment governments released, let me say, the lockdowns, we were seeing after two or three weeks, a recovery, especially on our daily flow goods business. Now it looks like in U.K., this is the first time a little bit more sustainable, what make us believe that this will hold on, not only for quarter four, but also for the upcoming quarters. All right. Very clear. Thank you very much. But as I said- The next- Above- The next question. Previous year. Sorry. Next question from Charlotte Friedrichs with Berenberg. Please go ahead. Hello, good morning. Thank you for taking my questions. There's three questions. Firstly, following up on the raw material price topic. Can you give us an idea perhaps what percentage of your bill of materials is affected by the price increases and roughly what magnitude of price increases you are seeing? All right. Obviously, what we see in our BOM, we have direct materials like copper, steel, and aluminum or the indirect, what are castings, profiles, batteries, and metal parts. We are seeing here, if you look into that, a price increase in the range of 5%. When it comes more on the component level, like drivers, modules, LED, we are still believing that we can stay flat or partly can also have a slight reduction. On the more trading goods part, finished goods, what we are importing, we are seeing mainly an increase of the price in the range of 3%-3.5% due to the higher transportation costs what we have. The numbers of what you have seen on steel, what we see since quarter four, calendar quarter 2020, and the outlook is in the range that steel is increasing something in the range of going from January 2020, EUR 550 per ton up to EUR 750 per ton in January 2021. After 12 months, that's an increase of 35%. Only on steel. Mm-hmm. Okay, understood. Then you mentioned a couple of new projects that you had in the current quarter, in particular, more projects with Amazon. Can you give us an idea of the size of these projects and how much you're doing with Amazon right now? If I recall correctly, the previous one was around EUR 5 million in revenue. Yeah. We are with Amazon, to name one, in the different countries in Europe, in the different projects. The range of the projects is always between EUR 500,000 and EUR 800,000. There are more projects in the pipeline. Obviously Amazon is developing into a range, into a double-digit million revenue driver across Europe. Okay, understood. Maybe my final question would be a little bit more broad. What is your general outlook for non-residential construction for the coming years? What kind of feedback are you getting from your customers at the moment? Well, as we are part of this EUROCONSTRUCT, the latest numbers are back from November, and it is of course different from the different countries, but it is in the range between 3% and 5% growth on non-residential construction across the European territory. It is different in different countries. Obviously, if I recap correctly, U.K. had a drop in 2020 of something like 18% or something like this, and it is now recovering a little bit higher than 5%, but not double digits. If we sum this up, we believe that all in all, the growth path can be and has to be for us in the range of 5%. Obviously, then you can do your math. We have been shrinking by 12%, we will not reach the pre-Corona level within the fiscal year 2021/2022, if this data is correct. Okay, understood. Thank you very much. You're welcome. As a reminder, if you wish to ask a question, please press star and one on your telephone keypad. The next question is from the line of Miro Zuzak of JMS Invest AG. Please go ahead. Good morning, gentlemen. Thank you for taking my question. I have just one regarding the provisions that you have on the balance sheet for severance compensation payments, the EUR 51 million. When do you expect those provisions to be utilized? When are we going to see the cash out of the EUR 51 million, in which year? Thank you. This will be over the years because this basically related to the special legal framework that we have, especially in Austria, for people that joined the company before, I think it was 2001. At the moment they are retiring, then they get, so to say, a certain payment, depending on the tenure that they have had with the company. This will be over time, and will take place. Anyway, you can make the calculations of the last people that maybe if they joined the company, they have been 20 years ago, so they are 40 today. If they are still with the company until their retirement and then they are 60, so this would be in 20 years, so over the next 20 years, very roughly. Okay, thank you. This is very similar to the rest of your pension provisions. Yes. Okay. Thank you. There are no more questions at this time. I hand back to Alfred Felder for closing comments. Yeah. Thank you very much for attending our Q3 investor call. Thank you also for the interesting questions. If there are no further questions, I would like to close the session now, and thank you very much for attending. Have a good morning and a good day. Thank you.