Good morning. This is Marc Al-Hames speaking. Good to have you all. We currently have a bit of a problem showing the slides, but I just kick off and start giving you an overview of Q1, where we are. Coming out of a terrible 2020, it's probably fair to say Q1 was not that different. The market segment development, we are still very much hit and severely affected by the COVID-19 pandemic. Our Q1 was actually terrible because we've seen in Germany very severe lockdowns. There was nearly no domestic travel. There was very little European and international traffic actually travel. In fact, to be able to travel, you have to be very brave, or you had to be very brave in Q1 because the rules were so unclear. We've basically seen a continuation of Q4, a complete standstill in terms of actual travel activity. The demand for package tours and hotels remained at very low- level. We've seen one exception of that. We've seen a short boost in demand when Mallorca opened, that was really a burst, I would say, because we had an ongoing political discussion afterwards that it's bad behavior to actually travel, we've seen this in our booking figures as well. Q1 overall, a very bad continuation of what we've seen last year. What does this mean a bit more precisely? We have seen very little actual travel happening, though, especially towards the end of Q1 with vaccinations starting to kick in and the mood and the discussion changing, we have seen a slight pick-up in booking. For reasons of prudence, we are not showing these bookings if they have not been departed. Right now, in our revenue, we basically assume bookings that come in will not be traveled. If you look at the revenue numbers we report in Q1, you only see our media revenue, and you only see travels that actually already happened in Q1, which again has been very little. What you don't see in the revenue numbers is that we collected around EUR 6 million of travel volume in Q1. These are the bookings that we have in our books. Now you can make your own estimation of how much of these EUR 6 million will be traveled over the next month. It's very hard to predict. It obviously depends on how the markets open and how the vaccinations are going. If you look at the Q1 figures, we're showing EUR 1.7 million in revenue. Again, we have an additional EUR 6 million of bookings in ou r books. We have EUR 1.4 million gross margin, and that resides in an operating EBITDA of EUR -5.9 million or an EBT of EUR -7.2 million. If you would assume for a second that all the EUR 6 million we have in the books would be traveled this year, Q1 would have nearly been profitable. I think this is highly speculative. Out of the EUR 6 million, there's a couple of bookings that I would say are unlikely to be traveled. I also would expect right now that this number will not go down to zero. It's anywhere between zero and EUR 6 million, very hard to predict. We can talk about the outlook a bit later and Markus can guide you through the detailed figures. Right. Thank you so much, Marc. Also, warm welcome from my side. Just picking up on that point with the bookings that we have, but have not been traveled yet. As Marc pointed out, we deliberately decided to take a very conservative stance there and really only recognize the revenues that have been traveled. Of the EUR 1.7 million of revenue in Q1, about EUR 1 million was commission revenues, about EUR 400,000 was advertising revenues, and the remainder was in the tour operator revenues. Again, how do we view those EUR 6 million? The good news really is that it's not lumped together in one timeframe, but it's actually spread out fairly evenly from short-term bookings that are supposed to happen within the next couple of days and weeks, up to bookings even into 2022. There's a whole range there. Again, following the accounting guidelines, only if we can really, with a high degree of certainty, estimate the revenues, we're allowed to recognize them. That's why we take, again, this very conservative stance of not showing them, also to avoid showing negative revenues as we had in last year again. Again, the EUR 1.7 million, take it with a grain of salt, but that's really what happened in Q1. Going further onto the cost side, that actually should be fairly old news to all of you. Number one is marketing expenses are still close to zero, and that is actually very interesting and very good news for us. All the bookings that we managed to do, we managed without any marketing cost whatsoever. Is that going to last even if the market picks up again? Significantly, very unlikely. We certainly think that we need to restart marketing at some point. As of now, the way how we view the market, we can capture our fair market share on bookings without having to invest anything or very little into the marketing part. All the bookings that happened so far are highly profitable, as Marc pointed out already. Personnel expenses, the EUR -5.1 million, that's pretty much the figure I kept telling you over the last couple of calls as the steady state. It probably is somewhat higher than EUR 5.1 million, more towards EUR 5.5 million. Why is that? With now the determination of Georg Hesse contract and more or less him now being off the payroll, we had an extraordinary positive effect of about EUR 400,000 in Q1. If you add that up, you're at the EUR -5.5 million, which is the steady state figure that we've been viewing over the last couple of months and have been indicating already. Other expenses, significantly down over last year. Here, again, we managed to really realize on the cost savings and bring down structural costs. There's some variable part in that as well. Again, if revenues start to pick up quite significantly, also this figure certainly will rise a bit. Everything that is fixed, we've managed to really bring it down to a level that is sustainable for quite a while. Adding all that up brings us to an EBITDA of EUR -5.5 million. Depreciations are slightly down. Again, this is one of the factors with us not activating so much, because with fewer people working on that, of course, the activation rate was down. We will see somewhat reduced depreciation over the next couple of quarters as well, bringing us to an EBIT of EUR -7.1 million, and then basically an EBT of EUR -7.2 million. Overall, again, not very surprising. I think the figures that we laid out the last couple of calls, we pretty much hit spot on. With revenues deliberately more of taking a conservative view, I think this should all be pretty standard to what you've seen. Moving forward to page number nine, the current situation and the current liquidity situation. Due to the very successful capital increase that we did in February, and again, thanks to all of you who participated in that, we are now in a position where we have roughly EUR 60 million in cash available as of end of March, which is up from the December figure because the capital increase happened in February. We used that also, as we indicated in the prospectus, to pay back the revolving credit facilities that we had with our banks. Right now, only the long-term COVID Plus loan that we have in Switzerland is used as debt. Seeing that, you see that we have quite a healthy net cash balance there. Basically right now we have quite a significant runway, even if the market were to remain fairly weak going forward, and that actually puts us in a very good position to do the right things going forward. Again, when we come to the cost base marketing, we are very conservative there as well. We are very cautious, but we stay alert, and we more or less are able to initiate marketing immediately if we see that the market comes back. There's no delay for us, and potentially us missing the wave, but we can act there as soon as we see demand coming back. Personnel, again, this is fairly stable right now. We are actually back in hiring some backfill positions that we need to have, especially on the engineering side. Again, this will be done, again, with a very prudent approach, and we try to manage the cost there as much as possible. Also the other expenses there, the comprehensive cost reduction measures have materialized, and you can see that fairly well in the cost reduction on the year-on-year basis. That's pretty much where we ended with Q1, and now for the outlook for the rest of the year, I'm going to hand back to Marc. Thank you, Markus. It's May 10th, we still cannot give you a real outlook because we simply don't know. Let me give you a couple of pointers and cornerstones that might help you making your own picture. With the rising vaccination rates, we also see a slight increase in bookings. Specifically since end of April, we see consumer mood changing, I would say changing fast and relatively drastically. We see a positive trend since that in terms of bookings, I would say we are accelerating the numbers of bookings we are getting in. Consumer mood has definitely picked up. There's obviously differences in age cohorts, generally speaking, we see an upward trend compared to Q1. If you read newspapers, you also see that travel is becoming a topic and how to. It is still, however, very complex, both for consumers as well as the industry. Where can you travel and under which circumstances? You might have picked up, for example, for domestic travel, it is very unclear where you can travel with kids or without kids, whether you need to be vaccinated or tested. We see the sky clearing a bit. Number one, consumer mood changing, and we see that bookings pick up. The summer season itself will be heavily impacted by the amount of vaccination rates, the infection rate, both in Germany, but also in potential travel countries. Last not least, and this is why even mid of May, I cannot give you a clear indication, it is also heavily impacted by political decisions. Take again a domestic example, Mecklenburg-Vorpommern will not let you in if you have kids. Schleswig-Holstein will. This is not a pattern we can predict in how it will change. We have the same for European countries and even more so for Turkey, Egypt, which are strong markets for us, and we're dependent on these political decisions. This will remain highly volatile. It's very unclear what amount of the bookings we have in the books will actually be traveled. We are, however, prepared both financially as well as from the team set up to stand through a very long travel ban. On the other hand, we are ready for a jump in demand. Markus has spoken about this a second ago. We are ready to kick off marketing if needed with a minute notice. I think right now we see more optimism than pessimism. In any scenario, we obviously use the time to further develop our products, and we are absolutely sure that there will be a surge in demand. Actually, again, we do start seeing a bit of this. The question is just when do people start traveling? Beyond that, we have a fully functional business model, and it will come back and again, we see first signs of that. What does this all mean for guidance 2021? We cannot give you a good guidance as of today simply because we don't know how much of the travels people can actually take. We're working with a positive and a negative scenario. In the positive scenario, the gross margin should at least double to last year. Again, you've seen we already have EUR 6 million revenue in the books. The question is will people travel or not? We also have a negative scenario, assuming that people can still not travel to core markets like Mallorca or Canary Islands or Egypt or Turkey. In all these scenarios, the operating EBITDA will definitely be improving compared to last year. Now you basically have to take out your old crystal ball and do an estimation of what do you believe, where can people travel? There's a good chance that Q2 can be a good quarter and Q3 can be a strong quarter. There's also a non-zero probability that we remain at the very low revenue levels you've seen in Q1. Thanks for that. With that, we close the presentation and are open for questions. Thank you. If you wish to ask a question, please signal by pressing star one on your telephone keypad. Again, that is star one to enter the queue for questions. We will take our first question from Felix Ellmann of Warburg. Please go ahead. Hello. Good morning. This is Felix Ellmann from Warburg Research. My question is, looking at the revenues, do you provide any as if figure, if you didn't have these cancellation options, how would the revenue be if you'd show all the revenue you made, if you thought there wouldn't be cancellation options? Of course, it's not a logical question, but I'd rather like to have an impression of the bookings in general in the Q1. Mm-hmm. Basically, we've shown the figures. The EUR 6 million that we mentioned on page number five as potential commission claims that we did not show, that's pretty much, not all of it, but the bulk of it was generated in Q1. There's some overspill from Q4. In essence, if we had shown this figure as we've shown in the past, we probably would have had something like a 10% cancellation buffer on that. Other than that pretty much would have been the revenue. That's` why Marc mentioned before, if those revenues had been made and we would have shown them, we would have ended the quarter on at least break-even if not slightly profitable. Okay. Very good. I got this right. Other question was about the competition. You are in the market looking at your competition day by day. If tomorrow would be normal again, what would you think, how much of your competition is still alive today? Are we talking about 90%, 70%, or what would you say from a gut feeling? I think we need to Marc speaking. A very good question, actually. I think we need to look at competition in various clusters. First of all, our partners, the tour operators are also competition at the same time because many of them do direct sales via internet, and obviously their franchise offices. I would say some of the tour operators are using the crisis and the state money they got to heavily attack, specifically TUI, which is a great partner for us, but they are also a strong competitor, using a lot of the government money they got to compete with us. I would say they are here to stay as a strong competitor. Some of the mid-size tour operators have reduced their activity in direct sales because they realize it's costly, they are not specialized, so potentially a bit less. On the second level, we obviously are, maybe not directly competing, but we have the same wallet we are addressing, the brick-and-mortar travel agencies. This is still very hard to predict because they benefit from the state aid. It's very well-tailored to a lot of the brick-and-mortar travel agencies, though I would say it's fair to say that a small to significant amount of brick-and-mortar travel agencies will go out of the market and might not open up again. It's very hard to say, is it 10% or 30%? I would say it's at least double- digit in percentage, and that will basically grow the online market share, and we will benefit from that. Thirdly, we obviously have the direct competition, so other OTAs or multi-online players. Here I would say, specifically the big three, so Ab in den Urlaub, OLAP, CHECK24, and us are here to stay. It's hard for me to judge on how well they come out of the crisis, but I would expect intensified competition after the crisis, though I think everyone in the industry has learned a lesson that the 2019 marketing figures have been devastating for everyone except Google. We see a reduced spending on that, and I would expect that all three players will act rationally. We will not see these marketing figures go up again to this. Again, I don't make the decision for my competition, so I cannot really judge that. I wouldn't expect them to go out of the market. Last but not least, there's a range of smaller OTAs, online players. We've seen a couple of them go out of the market already, and I would expect that many of them will not come back, because as you've seen with our figures, it takes a while until you get back to profitability, and I wouldn't expect all of them to come back. Generally speaking, I would say we will come out of the crisis with a slightly better competitive situation than it used to be. On the other hand, some of the tour operators might try to source more consumers directly. Net-net, I would say the crisis will be positive for us in competition landscape. Okay. Allow me one final question with regards to your content on your page with regards to the client valuations and the client-generated content. Due to the fact that you didn't make any traveling the last 12 months, did your content some kind outdated? I could imagine that it needs to live, and if it doesn't get updated for a year, it outdates? What is your content still worth when it comes to customer valuations, for example? Excellent question. Thanks, Felix. It's a discussion we continuously have internally. First answer is, the majority of the content does not necessarily outdate. We have some rules on when we start deprecating or taking old content offline or not having it for the overall rating and yes, fresh content is always better than old hotel ratings. Many of the, say, one-plus-year-old content is still very valid in terms of what the customers can expect in a specific hotel. It's aging well. Secondly, we actually collected quite a bit of content over the last year. Again, travel was low, but it was not zero. We did collect content specifically. We collected quite a bit of content very much tailored to the COVID situation, and if you go to our webpage, you now see that we even have indicators showing how hotels are dealing with the COVID situation. All in all, you're right, we've collected less content over the last year, and I wouldn't feel comfortable if this would go on for another three years, but we already see this picking up, an d I'm not worried about our content not being relevant at the moment. Again, I would be more worried if competition would collect this content and we wouldn't, but everyone has a lower degree of content, so we still remain the absolute leader in amount of hotel reviews. We still remain the absolute leader in trustworthy content, both COVID times and pre-COVID. The distance to the competition is still massive, so I'm not worried about that. Cool. Thank you very much. Thank you, Felix. As a reminder, if you wish to ask a question, please signal by pressing star one on your telephone keypad. There are no further questions at this time. I would like to hand the call back to you. Thank you. Thank you all for listening in and for the good questions. I have to do this reminder again, because I think we finished the business section. We might see a very strong summer in terms of people being able to travel, and we already see that some of the preferred locations are starting to be overbooked. Actually, we might have a situation where short-term booking this year might be more expensive than a long-term booking. You're all very valued investors and analysts of HolidayCheck. I highly recommend book your vacation now. My personal tip for this year, again, being Greece and Spain being top locations, or if you have a bit more money in your wallet, because our stock went so well over the last month, Maldives are also a great spot. Thank you all for listening in, and I hope we are seeing the end of the pandemic over the next months to come, both for us personally as well as for our business. Thank you all. Bye.