Great. Good morning. I would like to welcome all investors, analysts, and other people who are listening to this or looking at this presentation. We are happy to present our fourth quarter. My name is Remco Westermann. I'm the CEO and Chairman of this company. In today's presentation, I would like to welcome all our new shareholders because we have really seen a lot of new shareholders joining the company, institutional shareholders, but also a lot of private shareholders. That's the reason that we also decided to make this fourth quarter presentation a bit more extensive, which means that we also include some explanations about who we are and what we do, and also of course, an outlook and of course, the numbers for Q4. That's what we're going to go through. I would like to start at page four, where we will first quickly introduce ourselves. Well, our CFO, I would like to ask you to start presenting yourself. Thank you, Remco. My name is Paul, CFO of Media and Games Invest. I started in loan finance, worked afterwards for a Silicon Valley startup company called Shopgate Inc., where then I helped UniCredit Bank for their tech division, where we covered later stage tech companies. Did a lot of structured finance there, met Remco in 2017 when we refinanced the German bond of our gaming subsidiary. Since 2018 now I'm CFO of Media and Games Invest and responsible for finance controlling and investor relations. Yeah. My name is Remco Westermann. I am Dutch national, studied economics, and started working in the oil industry, then into consulting. After that into digital markets, amongst others, also working for Sonera, which is now called TeliaSonera, founded Bob Mobile, which was a value-added service company, which still is by the way, and it is now called CLIQ Digital. In 2012, I had the opportunity to buy gamigo, and at that time, distressed gaming company fully owned by Axel Springer. From acquiring gamigo in that year, we have built Media and Games Invest, now working on this for eight years. On the right side, you see a bit of the shareholding. We have a total of 128.7 million shares outstanding. I am holding by my holdings roughly 33%. We have a free float of 58%, plus we have got on board Oaktree, which officially by the way is also in the free float, which is a big private equity fund, which joined the company when we did the acquisition of KingsIsle, which I will elaborate on later. They're in as a normal cornerstone investor, so no extra rights, but we're really happy to have them on board. I would move over to giving you a short overview on who we are and what we do on page six. Here you see on the title already, Media and Games Invest. We started as a gaming company, but we believe very much in the synergy between the two, media and games. That's the two segments we are acting in. Geographically, as you see on the right upper side, majority of our revenue is coming from North America, over 50%, including our latest acquisition, KingsIsle, but that's only going to come in in Q1 into the numbers. We will actually be over 60% in North America. Europe doing roughly a third of the revenues and the rest of the world. We don't do direct-to-consumer publishing of games in China and Korea. There we work with partners. Also, there is some news later in the presentation. Looking at our financial performance, which of course for investors is very important, not the only thing, but still very important. We are very proud that we have been able to show a very good performance in the last years. Last six years, we've been consistently being over 40% growth of CAGR. The growth actually in 2020 was even bigger than that, but I'll come to that a bit later. A quick overview. We have been growing traditionally very much via M&A, so it's a buy- and- build model. We did over 30 M&A transactions since 2012. Market cap is now EUR 500 million +. We're listed on the Frankfurt Stock Exchange in Germany, as well as on Nasdaq First North Premier in Stockholm. That's since October, and we're really happy that we did that move and that we went to Sweden. Extremely good dialogue with shareholders and very happy to be there. We have over 800 employees. On our gaming side, majority of our revenue is coming from so-called massive multiplayer games. Massive multiplayer games are games where people are playing together. They are leveling up a character, for example, or building a strong city. They also call each other, so it's really a lot of interaction in the games, which makes also that people are very long-term in those games and that we have very sustainable revenue streams. We have also over 5,000 casual games, which we sell in subscriptions, which also gives very sustainable revenues. Also advertising-based. Over 100 million registered gamers. We have a media side. For gaming, there's two basic key success factors. The one is the content, of course, new content, new games, but also expanding the games. The second one is user acquisition, and that's the reason that we decided a few years ago to also become strong on the media side, which is now really growing very nicely, has also shown very good traction in Q4. There we have tons of ads that we are delivering over 10 billion per month and also working not only for gamigo, the gaming side, but also for several external advertisers. The revenues that we see, internal revenues are of course consolidated out, so that's only external revenues. I would like to go to the next page seven. Here you see that we basically run the company in two units. One, the gaming unit that you see on the left side, which the mother brand in gamigo group, where all the companies that we acquire are being ranked under. Very strong in-game purchases, over 50% of our revenues in total and almost 80% of our EBITDA. Gaming is a very profitable business. It's a growth market. It's also, of course, enabling a company to make good margins. Here you see on the bottom that we did a 31% EBITDA margin in 2020, really very nice and very profitable. On the media side, that's something that we're only doing for four years now. That's not as mature as, I would say, as gamigo, as the gaming side, where each acquisition is really a simple add-on. The media side, we're still building the, how would I say, the mothership? That's what you see here, also a bit in the numbers. Revenues are very nicely developing, but we're still not fully happy with the EBITDA margin. We did 10% EBITDA coming from, let's say, below that. We're still working on raising the synergies, getting more synergies between the media companies. We're connecting everything. We're integrating all the companies on both sides into a stack, and that helps, of course. Our outlook here is that we want to move to 15%-20% EBITDA, and maybe even a bit higher. Coming to the next page eight. Why do we run media and gaming? We believe very much in efficiency and scale in doing things better and more effective. That's what you see here. This is a very simple and actually simplified example. For a standalone gaming company on the left side, you typically, for a mobile gaming app, would pay EUR 0.15 per install and make an ad income of EUR 2 per thousand ad views. If you're an integrated media gaming company, of course you also have the margin from the media side, which allows you to go one step further to just get the extra user on board. It gives a lot of advantages, of course. Here you see that typically a user acquisition is EUR 0.10 per install, and that we get EUR 4 ad income per thousand ad views. Which means that we are working with a 200% better efficiency. That, of course, makes a huge difference. On top of that, there's also the big advantage that we can see the data throughout the whole chain. We have a lot more visibility on data, which makes optimization even easier. Coming to the next slide. What happened in the last quarter? A lot happened. This is only highlights. We took only three highlights, because if one learns, three is what people can remember. Just to show you some of the real highlights of the last quarter. The first one is Atlas Rogues. That's a game that has been launched in early access. We're really happy with that. It's a very innovative tactical game. It's a game that was originally acquired when we did the acquisition of, let's say, in the U.S. It was one of our acquisitions. We stopped the game at that time, players were not happy, the monetization didn't work. It has now fully, by our internal game development team, been developed. First reactions, we still had some tech issues. At the moment, reactions are really very positive. We are also looking at when we are really going to launch it. The second one is ArcheAge. Big game that we have big MMO. Introduced the Chronicles: Rise of Nehliya. Two substantial content updates that we did in Q4, which also, of course, generated very good response on the player side, but also resulted in good revenues. Trove, one of our other big MMOs. Their update was launched also for console now. It was earlier we had to launch it already for PC. Now on the console, we thought, and that was also a very positive effect. There were many more things, but everything together, we had a 36% revenue growth quarter-on-quarter. Q4, normally, seasonality-wise, is already a bit stronger. In this, we were really also ourselves positively surprised and happy that we were able to over-exceed on the revenue and of course also on the EBITDA. On the media side, the Verve Group, there's a lot of things going on. Further integrating the companies. We've been doing this now for a few years, as I said before. One of the big things is that we are adding more and more partners, especially on the gaming side. We have a lot of experience in gaming, and the media companies are not only working for gaming companies. We see that with the experience that we have, we are also able to really attract a lot of gaming companies as advertisers, but also as people that make their advertising inventory available. The Platform161 acquisition that we did last year is also now really integrated team-wise. Technology, still we have a few things to go, but it expands our demand offering, and we have also seen good traction there in the fourth quarter last year. Last one, we did in smaller, what is it? Asset deal. We are expanding our so-called SDK base, which means that we have the possibility to serve ads inside of mobile apps. With AppMonet, we added a lot of extra apps to that. We have also improved our tech stack there. Also, that has been really adding to growth. Also on the media side, we have seen a quarter-over-quarter growth, actually even a little bit bigger than on the gaming side with 43%. We're really very happy with the fourth quarter. Coming to page 10. A bit more overview of the fourth quarter in financials. Always a bit boring to read, but great to look at. Here you see the net revenues. They amounted in the fourth quarter to EUR 48.7 million, which was last year, the same quarter was EUR 28 million. Sorry, 2019, because we are already in 2021. In 2019, we had EUR 28.2 million. We had a 73% revenue increase, which of course is very strong compared to the, let's say, average bit of 40%, which is already good that we normally do. Adjusted EBITDA also improved very much. We did a EUR 10.1 million. Happy that we crossed the EUR 10 million EBITDA in the quarter, which is also 74% increase versus the same quarter in 2019. Our EBIT is really strongly improving, seeing we had also here a 64% increase. EUR 5.8 million it was in the fourth quarter of 2020. The leverage ratio, as you all or most investors know, we are also working with bonds, public bonds. Have had the bondholders, of course, at Oaktree. We are really very much managing the leverage. We had a 1.9 in December 30 last year, so December 2019, and a 2.1 as of December 31 of December 2020. Here, we're very well in the bracket park, rather a bit on the low side. We try to manage the leverage between two and three, of course, for the advantage of all. On the guidance, we outperformed strongly. We did 17% more revenues altogether in 2020, which was mainly also due to the fourth quarter. The EBITDA target was also strongly outperformed by 35%. We really see that the business model that we're running, which is acquiring companies, making them more efficient by integrating them, and also getting revenue synergies out of that, and then also investing in organic growth, that it really works out. Yeah, 2020 was, of course, a very special year with Corona, which we especially noticed in the second quarter, when the lockdowns were really followed by everybody. I think that was not as strong in Q3 and Q4. We see also that a lot of our projects are really leading now to strong growth on the revenue side, but also on the EBITDA side. Coming to the next page 11, a bit of an outlook. What's all coming up, and looking at the time, I will not go to every detail here, but we're really excited about "Heroes of Twilight." It's a mobile game where we have the worldwide license, which we are preparing for launch. It's based on "The Little Lords of Twilight" that some of you might know, which is a very well-known IP that has been very successful. It's a turn-based role-play game. It has dynamic day and night changes, so some really special night things in it. Looking forward to see it launched and would invite all of you, of course, to then also play it. A second mobile game, it's both is also emphasizing that we also want to move more towards mobile. I mean, we're very happy with our online and console games, but on the mobile, we also have a good opportunity to grow. That's the reason that we also signed a second game. The game has been developed by Behaviour Interactive, which is very well-known Canadian studio. Yeah, it's playing golf and having a lot of fun with it. Also looking forward to that one. There we have a bit more development work to do, so that's probably going to take a bit longer. Still aiming at the 2021 launch. We have Desert Operations. Yeah, that's one of our strong games on the online side, and that's the one where we really are preparing now to get it on mobile and to also give the players the possibility to play the game on mobile, but also to, of course, attract new players. Yeah, that's going very well, also internally developed. To say a few words here, we have, let's say, a lot of internal game developers, but the one thing that we're really not doing is developing fully new games because we think that we're still too small for that. From a risk perspective, that doesn't make sense. That's the reason that we are, yeah, focusing on improving games that we have or improving, let's say, games that are almost ready. There's a lot of opportunities there. The other thing that we do, of course, is bring it to other, how to say, distribution means or to other outlets, like desktop guys to mobile. The other thing that we're working on, Trove, bringing it to Nintendo Switch. That's what you see in the next point. Looking forward to that. We are also moving forward with that. We're working with external studio, and it, yeah, looks very promising. The other thing that we're doing, as I said in the introduction, we're not publishing ourselves games in Asia, but we have a strategic cooperation with Aprogen Games, which is a strong publisher and which is now bringing Trove into South Korea. They're working, also preparing the launch, so also that we're very far. On the media side, yeah, also two really important things. Verve Edge, that's the name that we chose. It's a project that we have been working on for over a year. As people that are acquainted with the media side know that, let's say, the identifiers are disappearing and that some of the big players like Google, Apple, are more and more getting to walled gardens. For example, the IDFA, which is the identifier from Apple, is being skipped out of the market, which makes identifying of users a bit more difficult. Our answer to that is Verve Edge. It's being rolled out now, and it enables us to read and leave audiences on the device, so we don't have to share personal data anymore away from the device, but we can target on the device. It's very cool technology. It's also data spending for it, and we're rolling it out and getting very good response on that. That's something that will also drive the growth in the next quarters. Enterprise solution, full stack SaaS. Yeah, a lot of technical terms here, but what we're doing with our media companies, we are all integrating the platforms that we have. It's mostly SaaS technology, programmatic, automatic bidding. One of the things that we were able to acquire was Nexstar Digital, which we closed the deal in Q1, and which we now are also integrating into platform, which is also giving us the possibility to steer our advertisements on connected TV. Yeah, that's also helping to leverage our portfolio and to bring it further. The next thing that's also ready for launch in 2021 or made ready for launch is our hybrid cloud, which will again, for especially game companies, be a very great way of further targeting and, yeah, effectively spending advertising money. On the bottom you see, there's tons of other things which would go too far now, but a lot of stuff in the pipeline. Games are all looking at updates going forward. Several other game launches coming up. There's also some more that we are at the moment negotiating for new games. We don't do new game development ourselves, but of course, we are launching games that other companies develop. There's a lot of cool things in the pipeline, but we're always a bit careful here because we don't want to tell it too early, because it's all software and software can always take a bit longer from experience. We would like to really announce games when they're shortly before launch. We made a bit of an exception with Heroes of Twilight and Golf Champions, because we wanted also to show that we are really seriously going more into the mobile side, but also there, we will only launch the games when they're really good, and not before that. That's a bit of outlook. Coming to the next slide, games market, page 13. Those that know us already know that we have this slide more often, so we'll quickly go through it. Game market, it started in 1974 with Pong, which was two very simple tennis bats on a computer, and is now a EUR 160 billion market where a bit over 50% is mobile, but also console and online are big segments. It's a mass market. It's not only kids playing, it's also, and there's some numbers here on the slide for Germany, over 41% are female, 29% are over 50 years old. It's really a mass market. What you see on the right bottom side is our split of revenues on the different segments. PC client, 72%, the biggest. Console, 10%. Browser, 12%, which is also PC. 6% on mobile. Mobile is underrepresented, but also, it's good to realize that mobile is the most competitive of all the gaming segments with over 3,000 game launches per month, and over 80% of that on mobile. Also with Apple and Google being strong gatekeepers that take 30% of the cake. Mobile is much more competitive and we didn't want to go into mobile before we had a bit bigger size, which we have now, and that's also the reason that we're going into mobile, because also from a multi-platform publishing perspective, it really makes sense. Coming to the next page, slide 14. On the left side, you see that we have well- diversified revenues. On the gaming side, the gamigo MMOs make roughly 24%. These are normalized figures. What we put in here is KingsIsle acquisition that we did in January this year. It's not in the 2020 figures, but we wanted to put it in here to show you also that KingsIsle, yes, it's a very major acquisition and it's also adding majorly to our MMO base with 15% of the total revenues. It's also, let's say, not suddenly that the company's totally changed. We're looking into more acquisitions, of course. Advertisements to make money with games is here and make money with the PC casual games and the mobile casual games. Those are the other segments. They're smaller. On the media side, we have basically a programmatic side, which is the supply side platform and the demand side platform, which are fully SaaS services. We have our agency services, but I'll come to that a bit later. On the right side, you see the way how we grow. What we're doing now for over eight years consequently is M&A, three to five cases per year. Tendency to buy also a bit bigger cases. We don't want to buy too big cases because they normally tend to be relatively much more expensive. Multiples go up then. We would like to stick a bit in a certain field of M&A. On the middle, what you see is organic growth. You saw some examples before. It's of course improving games that we have, getting more users into the games, internationalizing them, getting them on different platforms, or also doing very big updates like Trove, the Elves one that we did in 2020 or ArcheAge: Unchained, which is a licensed game where the developer made a big update. Those things are really driving our growth. On the media side, it's also more supply, so more advertisers and more advertising spots. Also, Verve Edge that I just introduced, [open garden] which is also a possibility to make our complete platform white label available for customers and header bidding for connectivity. As I said, also something that we've already shown some results in Q4 and we're even expecting to show more results also in the next quarters. Coming to page 15. Also, quickly going through this. This is our core. This is our heart. MMOs and Wizard101, really proud about it. It's one of the games that was part of the KingsIsle acquisition that we did, the Harry Potter of online games. What you see in the middle, that's really core. Gaming segment is huge and there's all kind of different categories that games that people play only for a few hours or a few seconds. MMOs, massive multiplayer games are really played for years. Fiesta Online, our oldest one, is 14 years old. This Wizard101 is 12 years old. They are not old because they get renewed all the time. What makes them very attractive, of course, also from a financial point of view, is that in this case, over 50% of the players are more than five years in the game. This is, of course, very sustainable, trustworthy revenues for the long term. We need to treat the game well. We need to treat the gamers well, of course. We may need to make them happy. Content updates, but also active community management. We really have a very stable revenue base in the company. On the next page 16, you see that Wizard101 is only a single example, but we have many more of those and also not all of them are on this page. Two extreme examples, Desert Operations, which I also talked about before, strategy and build game. There we have over 80% from the revenues coming from people over five years in the game. That's, of course, extremely loyal, very good. The graphics were outdated. We have updated the graphics and we're now slowly rolling that out and also testing marketing response on that. The first things are really positive. We have a lot of potential there for new users. "Deutschland Spielt," it's a subscription service, casual game subscription service, which you see on the left bottom side. Also, they're extremely loyal user base, so it must not always be a massively multiplayer game, but most of our games are massively multiplayer games. Coming to the media part on page 18. Market for media, and we haven't been talking that much about it in the past, but it's very important to realize that we're also becoming a strong player in this segment. Market for media is huge. We're talking about almost EUR 400 billion at the moment, worldwide. With many different segments from the search engine market to the banner, but also social, connected TV, as I mentioned before. Strangely enough, it's very similar to the gaming market, very fragmented, low entry barrier, so a lot of small companies, where we say companies that are too small, and that makes sense to be acquired and to build something bigger. Yeah, a few very strong players like Google, Tencent, Facebook, that of course take a big part of the cake, but that are all moving to walled gardens. As such, also a lot of advertisers are looking for the alternative, and that's in the open market, which is roughly 50% of the total market. That's where we are acting and where we see a lot of potential. A lot of M&A potential, a lot of technical potential, and a company that gets bigger, gets more efficient, so has even more possibilities in this market. On the next page 19. Yeah, a bit further, what are we doing on the media side? I would like to start on the right side. Basically, this is the total value chain. An advertiser uses a demand side platform, then you have the data optimization in between, and then you have the supply side platform where the advertising spots are booked or are automatically auctioned, and then you have the publisher who's basically also the gaming company who makes the ad spots in his games available. We cover the whole chain. With gamigo, of course, we have a big advertiser in-house and we have a big publisher in-house, but also working, of course, with external ones, and we have the full technology to do everything in between. That makes us very efficient. You see in the left upper side that 62% of our revenues are programmatic/SaaS/really full automated bidding processes. We are very strong on the supply side, not as strong yet on the demand side. We are also working on that to get bigger. The CTV acquisition that we did is also helping us there a lot. We have agency services. Can be influencer, can be user acquisition optimization, but those are people that are pulling the buttons or doing the creative work to do the campaigns. That's a bit more service to the customers. They are also mostly using the technical platforms. On the bottom, you see that we are not only working for gaming companies, but also for a lot of other strong brands, because strong brands also like to advertise into games and also games, of course, like to advertise in media of other companies, not only into other games. Brings me to the next page 20. Looking at the time, should go a bit faster, I think. This is influencers. Yeah, influencers are very important. They are streaming on Twitch. They are, let's say, showing things on YouTube or on Instagram. We have seen that especially for game launches, they're really effective. Yeah, we like to use them for bigger updates and for bigger things. This is an example now of ArcheAge: Unchained, which was really very nice case. It was actually the one first big case that we are still very proud of that, where we used influencers. We're using them a lot now on all our games where we have big launches. Coming to the next chapter, which is a bit different topic, ESG. Yeah, we are really strongly into ESG. It's rated as very important. ESG has, of course, a lot of different aspects. Going too far now to go into everything. There's a lot listed here. Just to pick out a few. Data centers are for us, of course, extremely important for running the games and also running the media. There is the carbon footprint, very important. We're really selecting media, our partners on the base that they use renewable energies. Had that yesterday call with Google, where they were saying they want to be actually carbon negative, not even neutral, but negative, which will, of course, also something that we really like a lot. We also involve our gamers into this topic. We have, for example, the Eden Reforestation Projects, where we, in our games, give the possibility for our gamers to plant virtual trees. For a virtual tree planted, there are also real trees planted. A lot of other things happening. I would like to go to the next page 23. Each of our games, of course, is an environment by itself. It's a world by itself with a lot of people having their avatars there, they're interacting. For us, it's very important to make our games a safe place for everybody. Of course, also with child protection. We have clear rules in our games. For example, no gambling. Yeah, a code of conduct for each game. We have active community management. Yeah, nothing's perfect. Of course, we have also improvement targets mostly on the technical side to really make sure that this is, yeah, obeyed and worked in the game too so that everybody can have fun in the game, and we can really enjoy playing the games. Coming to the strategy on page 25. Very quickly going into this. Buy, integrate, build, and improve. It's basically a three-step approach. We're doing this now for eight years. The first four years, we only concentrated on buying companies and integrating them. Since last four years now, we also, let's say, focusing much more on really organic growth, which is by further improvements, more users into there, which is also the media part and internationalization, of course. Coming to the next slide, page 26. Yeah, M&A is part of our DNA. We have done over 30 cases now altogether. Historically, we have been focusing a lot on distressed because they have a very good return on invest, but are not so easy to plan, of course, because if they come, you either have to take them or they're gone. With distress, we are looking at, let's say, under 24 months payback including burn rate, including restructuring costs, which we are typically actually were under 18 months. We are also moving more and more to, and this also you have seen the KingsIsle deal to EBITDA positive cases where we like to buy below six times EBITDA multiple, but that's also taking into account synergy. We can also buy for 10 times EBITDA and maybe in exception cases even a bit higher if there's enough synergy in the case, on the revenue side and on the cost side that we can come to these target numbers. We really like to drive also our M&A side, with a very effectiveness and efficiency focus. Yeah, looking forward. Target size has increased a bit, typically EUR 5 million-EUR 40 million revenues per year. We like to avoid a bit larger targets because there's strong bidding processes and we have seen some multiples in the market that we would not like to pay for a gaming company and also for media company. That's really what we try to steer out. Well-defined processes for the negotiation and getting the deal done as well as for the integration of the companies. We have a well filled pipeline, which I have a slide later in the presentation to show you a bit of the targets. Coming to page 27. We integrate the companies. I said it before, going very quickly through, you don't need MD on each company. It makes it much easier to steer, of course, to manage, and a very big savings on technology. Game companies that we bought had 30%, 40% of technology cost of their revenues. With getting everything into cloud, making it more efficient, getting better contracts, we were able to decrease the technology cost by 50% and even 70% or more. As you see two examples, Trion Worlds is a gaming example, and Verve is a media example here. Next page 28. Trion Worlds company, that was distress when we acquired. They've been spending more than EUR 450 million before we acquired. We bought it from the banks. We bought only the assets that we wanted, have been optimizing the company very soon. Here you see really that these are very nice investments to do. We invest also in the game, we saw also a strong organic growth. Yeah, we're really happy that in the first year already we did positive EBITDA and substantial revenues, and in the year after, we were even able to grow this with all the things that we did. Page 29. KingsIsle, big acquisition that we did. They call it transformative acquisition. Yeah, based on the first nine months of 2020, it would have added 60% to our EBITDA. Really, making us a lot stronger. Great team, and we're now working with them for a few weeks and they're extremely motivated. We see so much potential in this game. Yeah, we paid $126 million for it. There's also an earn-out where I expect by then looking at the numbers that we will pay also part of that. As part of it, originally they were supposed to take some shares. We've got some discussions there and then Oaktree Capital stepped in. That's the reason that Oaktree came on board very recently. Developing well, and here you see the EV to EBITDA. We paid 6 x. In certain, if you're just meeting a next earn-out step, it might even go up to 7x, it's between 6x and 7x that in the end we will pay for this company. Very nice and very profitable. This also showing that with own IP and a lot of focus, a gaming company can be extremely profitable. Here you see 66% EBITDA, which of course is going to add to our numbers from Q1 onwards in 2021. Next page 30. M&A. Here you see some of the, and they are of course anonymized, but we have, let's say three gaming and two media deals, where we are really intensively talking at the moment where we see possibility to get them on board. We don't want all five of them. That would be too much because we also want to keep focused and be able to integrate them. Would be nice to get a few of these on board. I said, we are only in February, so there's a lot to go still in this year. Looking forward to do some deals here. I would like to hand over to Paul to the finance part. Paul, up to you. Thanks. Thank you, Remco. Here we start on page 32, with a summary of the financial performance of the last six years. There we reached now EUR 140 million revenues and EUR 29 million EBITDA in 2020. Really outperformed our financial targets and have now reached on an average a CAGR of 45% in the last six years. Therefore, show really strong profitable growth for very long periods already and even outperformed this 67% growth in 2020, our CAGR of 45% of the last six years. We have diluted our EBITDA margin a bit in the last two years, in 2019, 2020, as we also acquired more media companies, to put more focus also on organic growth for our games. Where we have accelerated actually also organic growth, which we have increased over the last years. Now as we also more, looking a bit more into the acquisitions on the gaming side, which we did for example also with KingsIsle, the market expects a strong increase, and I with us as well, of EBITDA margin during 2021. We have also for that reason included to the consensus data which are available also on our website and all the analyst reports. That's the average of all the analyst expectations and there we see a very strong increase to 29.1% in EBITDA margins. That's a little bit also going now to page 33, what we see, and that's also what we have highlighted during the KingsIsle acquisition, that we adding more than 60% group EBITDA on a pro forma basis. KingsIsle will be first consolidated in Q1 2021. I saw in the last weeks that there was some questions if that was already consolidated in Q4. That's not the case. 2021 it will be and therefore Q4 is even stronger because KingsIsle is not included there. Looking a bit more on the pro forma numbers here we can see that for the first nine months, MGI would have done EUR 92 million revenues and EUR 19 million EBITDA on a stand-alone basis. Adding KingsIsle with EUR 18 million revenues and EUR 12 million EBITDA for just nine months in 2020, we would have ended up there with EUR 109 million revenues and EUR 31 million EBITDA, therefore increasing the EBITDA margin on a pro forma basis from 21% to 28%. That's also a little bit what you can see now in the consensus data for 2021, and that's the main reason why the EBITDA margin increased so substantially. That's actually achieved as KingsIsle has a very strong EBITDA margin of 66%. As they fully own the IP of the games, they have a very interesting infrastructure, and as Remco pointed out already, very sustainable revenue streams where more than 50% of the revenues is coming from players more than five years in the game, which means you need limited user acquisition costs and therefore can reach a very solid, sustainable EBITDA margin of 66%, which is also sustainable in the long run. Therefore, yeah, again, a truly transforming acquisition, adding more than 60% EBITDA to the group and more than 20% revenues on a pro forma basis. Looking now a little bit more into the fourth quarter revenue and EBITDA development. Also on the left side, we see the revenue development. Here we see that we ended Q4 in 2020 with all-time highs, reaching EUR 48.7 million in revenues, which is on a last 12-month basis, EUR 140 million. What we can also see on the purple line is that we have really managed to grow quarter-on-quarter every year substantially, therefore reached all-time highs then in Q4. Also on the EBITDA side have grown 74% in Q4 year-over-year, reaching EUR 10.1 million in EBITDA and on a last 12-month basis, EUR 29.1 million, therefore also increased our profitability substantially. Looking now on page 35 a little bit more into the segment performance, where we have started in Q1 2020 to also report the P&L revenue and EBITDA for both segments. Here we see also very strong increase on the game segment of 76% in Q4 compared to Q1 2020, with all-time highs also in total EBITDA of EUR 7.7 million, very strong increase as a lot of new players came in and stayed also in the games and also all the bigger DLCs and content updates we delivered to the games during 2020 have been well received by the players. On the media segment, we also see a very strong increase in revenues compared to Q1, also during the year of now 92%, also reached all-time highs in terms of EBITDA with EUR 2.4 million in Q4 with EBITDA margin of 10%. That was also the target to reach 10%, which we want to grow to 15%-20% midterm. As we scaling also in the media segment, we expect that to be achieved already during 2021. Coming now a little bit more on the revenue diversification of MGI, and as Remco pointed out already, we have also decided to put KingsIsle already here on a pro forma basis for 2020 in to really show how the company will look like now also during 2021. Here we also will be very well diversified. Even KingsIsle, which has very big games as Wizard101 and Pirate101, will make 50% of the group's revenues, and therefore less than 50% obviously is coming from the top games, and therefore we still have no hit exposure and been well diversified. Same also count on the right side for the media divisions, where we have very strong supply side platform, which is mainly tech- driven, demand side platform, tech- driven, and also agency services we offer to third-party advertisers. Looking a bit more on the revenue split on page 37 between licensed versus owned MMO games. Here we started with a 50/50 split in 2019, as we then said, okay, we will build our organic growth game launch pipeline. We're really talking about game launches based on licensed games because we don't want to make this greenfield development starting from the scratch, developing an MMO game for EUR 5 million -EUR 50 million and then risking that or taking the investment risk. That's something we don't do, therefore signed more license deals where we also announced Golf Champions and Heroes of Twilight in 2019. We have been very successful with that, increasing the licensed revenue share and the games like ArcheAge and Shaiya has also been ever growth since then, but nevertheless also put more focus now on our IP-owned games and have also professionalized our game development in the last three years substantially, and therefore we're able now, especially in 2020, to deliver much more content updates to our IP-owned games like Trove Delves, which was a very big DLC, and therefore have grown now our IP-owned revenue share in the MMO games to more than 50% of the overall portfolio. Which will also drive profitability of the group as we don't have to pay the 25%-30% license fee for these revenue streams. Coming now a bit more on page 38 on our operating cash flow and CapEx development. First of all, maybe also important to mention the numbers have already been reviewed by the auditors. That's also what you can find in our Q4 report, so it's still unaudited but reviewed and therefore agreed with the auditors. We're starting with the operating cash flow of EUR 300 thousand in 2014 and have substantially increased that to more than EUR 25 million now during 2020 with a very strong free cash flow of EUR 21 million and an operating cash conversion of 124%. On the right side, we have two CapEx items. That's maintenance CapEx for the further development of our IP on games. For example, Trove Delves, but also sequels like Atlas Rogues, that is the investments which are allocated there, and which are also for organic growth, but also for keeping the revenue stable and adding costumes, new character classes, new level cap raises, all kind of things to the MMO games. We have also expansion CapEx, which includes investments in M&A, but also investments in IP rights and to game licenses, like for example, investments in Heroes of Twilight, Golf Champions, and all these kinds of things. That is what you can find in the EUR 33.1 million, which we have increased substantially as we did a lot of M&A also in 2020, but also signed more game licenses to gearing more towards stronger organic growth during 2021 and beyond. Coming now on slide 39 to our net leverage development and also a little bit the risk profile of MGI. Here we started with 7x in 2014. That is shortly after Remco took over gamigo back in the days and have delevered pretty fast actually to 3x in 2015 and have since then traded between two and three on an annual basis in terms of net leverage, despite the fact that we are doing three to five M&A transactions per year. As we also increasing free cash flow substantially from year to year, and also adding additional EBITDA, our net leverage ratios are between two and three. That is also what we have set as a financial target in the last years, really keeping the net leverage between two and three, and that will also be the case including the KingsIsle acquisition. Despite from that, we have also set revenue CAGR of 25%-30% with an EBITDA margin of 25%-30% and the EBIT margin of 15%-20%. That's actually, if you look now at the KingsIsle acquisition and also what the analyst consensus data says, you can see that you can tick the box there already. Therefore 2021 is already more or less in the pockets. We have also set these targets for further years. If we do further M&A and gearing more towards organic growth, there's also a high likelihood that we can outperform our revenue CAGR. I would like to hand over to Remco again for a last summary slide. Yeah. Thank you very much, Paul. Coming to the summary, just giving a short overview of what we are doing. This is not going to change. We did it in 2020. We also continue to do this, running this company with fast growth and a very sustainable and substantial EBITDA margin with a low business risk focus. There's a lot of dreams in the gaming market and a lot of people that are playing lottery. We try to not do that, which means we're focusing on MMO games with steady, sustainable cash streams. Strong organic growth, of course, very important. Increasingly, we're growing on the organic side. Game as a Service update. You'll see game launches also on the media side as I showed before. That's also what you see here. Gaming is supported by the media unit. The media unit is becoming stronger by itself. It helps us with efficient user acquisition via cost and data USP. We have synergetic M&A. Done over 30 agreed transactions, two already this year. A well-filled pipeline to do a bit more. Integrating our acquired targets is another thing that makes us a bit different and where we really believe in, and which is also showing, as you see in the numbers, that it's really helping us forward to be profitable and efficiently growing. Economies of scale is the central word here, I would say. That brings me to the end of the presentation and would like to hand over to the moderator for the question part. Thank you. If you wish to ask an audio question, please press zero one on your telephone keypad. If you wish to restore from your question, please do so by pressing zero two to cancel. Once again, please press the zero one on your telephone keypad if you wish to ask an audio question. There will be a brief pause whilst we wait for your questions to be registered. Our first question comes from Ken Rumph from Jefferies. Please go ahead. Hello, gentlemen. Congratulations on the year, by the way, and the beginning to 2021. A couple of questions. One was on the media side. What gets you to the target 20% EBITDA margins? Is it simply the continued growth of the business on the cost base that you have and a kind of leverage effect, or is it something else? Related to that also, are there still particular gaps or opportunities that you'd like to address in the tech stack in the services that you're offering? I think it's a very interesting element to the business. Secondly, thinking more on probably on the game side, but generally, given that you're sometimes buying businesses that are either distressed or certainly where perhaps the game that you're buying is kind of underappreciated, like at KingsIsle, where the guys maybe had got focused on another area or mobile and had maybe neglected or at least not taken the full opportunity of Wizard101 and Pirate101. Do you suffer any kind of churn in the staff? Certainly, the gamers seem to welcome what you're doing, I should think they would. That's something that people always worry about with video games acquisitions is if a company's in trouble or if you try and change things, how will the staff react? Finally, kind of related to that, you talk about maintenance CapEx and expansion CapEx. That's basically people, I guess, or more people spending more time or maybe outsourced more time. What do you think you need to do to the staff base of a business like KingsIsle? Are the existing staff sufficient, or do you need to maybe add some more people to support more content? Or maybe it can be done by outsourcing. Obviously, some of the Asian stuff you're doing at Trove and so on is being done by external partners, so not on your cost base. Thank you very much. Yeah, Ken, thank you very much. I think I'll take the first part of it and Paul can say a few words about the CapEx later. Yep. Yeah. Coming to the media side, how do we get to the 20% EBITDA? It's manyfold, I would say. The one, of course, is indeed more critical mass. The larger you get, the more efficient you get, and especially in the media side, you have certain so-called listening costs that you need to be into auctions to really get the data and to be able to, if you are going to bid or not. There is a certain level, and if you get much more volume, the costs don't go up anymore. That's absolutely a revenue effect or let's say a growth effect. You have a lot of technical optimization possibilities, like what we do with smart throttling, that we don't bid on everything, that we only bid if there's demand. Those things that you can optimize. We're seeing the same thing in the media companies as we saw from the gaming side, that a lot of those companies are too small to invest in this kind of optimization and that they don't have to focus on it, also, and partly also running with extremely expensive technology contracts. If you also see now, for example, now with our latest acquisition, they have still server contracts or data center contracts that run still till next year, and only after that it will be full savings for us. There is a lot of different things that we can do to make it more efficient, which is on our intelligence side, our improvement side, but also critical mass and just waiting in certain cases. The second point was, what do we want to do on the technology side? Technology that makes the whole ad tech business very interesting. Now with IDFA getting out to market, the market is developing more and more movement to programmatic. New segments coming into programmatic like CTV, connected TV, is really growing very strongly. Also, we think there are several other segments that are much more possibilities and optimization things. A lot of companies are only doing certain parts, so only DSP or only SSP. We have seen now by connecting those that it really makes sense. For us, it is really further ticking the boxes. There is a few things on the data side that we would like to add, on the creativity side, and also, we would like to add critical mass, of course, but that has nothing to do with technology. Yeah, very excited about the two projects that I showed before. The Verve Edge project, which is really very cool, where there's a lot of interest in the market, and also the connecting our tech stacks, which is giving a lot of efficiency. Okay To parties that are connected. Okay I'll take the first part about staff. Okay. Yeah, when we do acquisitions, some people like us, some people don't like us. We have a certain style, of course. The first thing that is very important that our acquisitions become part of the family. There's not something like we acquire you and you have to obey. I think that's very important. We are now a melting pot with cultures from over 30 companies, different nationalities, but also different company cultures, where in the end, the connecting thing for the culture is really that we are successful, that we're building, and that we want no politics. That's really appreciated. Just to give you an example there, KingsIsle now the acquisition team is extremely relieved that they are part of a company that is really focusing on MMOs, that knows how MMO work, that have also done porting already to other platforms. It's really extremely positive. Yeah, you always have a few people leaving, but in general, we're really good in keeping the people that we want to keep. Of course, if you have distressed companies, sometimes you cannot avoid that you have to let go of some people, but that's a different story then, of course. Hmm. Okay. Paul, you take the- I take over for the maintenance and expansion CapEx parts. Ken, you can for this question. In regards of the maintenance CapEx, that's really the capitalized own work for the further development of our IP or game. Personal costs which get activated and which then is like an asset on the games, which are doing revenues, organic growth in the future. We also have there the platform investments. The investments into new platforms in there, as well as sequels. For example, Atlas Rogues is also within the maintenance CapEx. On the expansion CapEx side, there we have then further M&A transactions, but also investments in IP rights and investments in new game licenses. If we acquire a game IP from a third-party developer, which we also have done in the past, then we do the further development in-house. If we acquire game licenses where you sometimes have to pay a one-time acquisition fee in the beginning. That's something which is also then an expansion CapEx and also then gearing towards strong organic growth in combination, but also with M&A growth if we're talking about an M&A acquisition, which is also part of the expansion CapEx here. In terms of the staffing on the KingsIsle side, there's sufficient staffing to really grow the games and to put more focus now on the MMO, Wizard101 and Pirate101 again, because there was a carve-out doing the KingsIsle acquisition for the old mobile business. There was a lot of key focus for Wizard101 and Pirate101 because they made a lot of new game development from scratch, while our thing is really putting more focus on the content updates again and bringing more to the existing games and also launching them maybe in other regions and internationalize them more. Yeah, the staff is really happy that they can now really focus on that again. For that, there is no additional stuff needed. Nevertheless, especially, and that's what Remco also mentioned already, if we bring the game to new platforms and port the game to other ones, then for sure, we have center of excellence in the company. We have people who did this already, then they can use this kind of know-how and also some human resources for that end, so that we can realize a lot of synergy on that end as well. The big advantage for KingsIsle especially is because they're also based in Austin, where also our game hub in the United States is anyway. Most of our game developers are based in Austin. That's actually pretty perfect from a synergy and integration point of view as well. Yeah. I hope they've survived the snow, but thanks very much. Great answers. It's better now, but we had some issues indeed with, let's say, energy networks collapsing and all these kind of things. Mm-hmm. Perfect. Thanks a lot, Ken. Thanks. Thank you. Our next question comes from Philipp Frey from Warburg Research. Please go ahead. Hello, gentlemen. First of all, I wondered if you could comment a bit on, first of all, organic growth numbers in gaming, and particularly the outlook for organic growth as you are now, as of March, basically facing very tough comps. Do you think you will be able to overcome these tough lockdown comps with your organic measures, your launch activity? Relating to that, you've disproportionately elaborated actually on mobile launches. Are these really substantial game changes that you are expecting, so really propelling mobile into the double-digit percentage of your business? Or is it more to give us an idea that with people probably spending more time outside, that you are addressing that in your investments? Thirdly, I like to comment on Verve Edge, and I guess these higher privacy issues are really definitely important. How do you compare your technology to the solution of some of your competitors? Is that attractive enough to probably even get some out-licensing deals? Or what potential do you see precisely? Just a bit of a rough quantification of the potential. Great, Philipp. Thank you very much for your questions. Yeah, let me first start with your first one about growth. The total gaming market is growing a bit over 10% year-over-year, with basically all segments growing. Mobile a bit faster, but let's say also, and there's a bit of casual games going from online gaming to mobile gaming. There's a bit of also a change between the segments. There is organic growth. What we have seen, and that's not in our sheet on page 13, that, of course, with COVID, everybody locked down. There was more activity in gaming. We got a lot of new users in, and also people were just playing more hours, just being locked at home. In Q2, I would say, people also voluntarily obeyed the lockdown orders, while we're now seeing that the activity is more normalized since then. We have normally in seasonality in gaming, so Q4 is the strongest, Q1 the second strongest, and then Q2 and Q3 are the weaker ones. With that COVID, gaming was still growing with 10%, 11% a year. That's also what I expect further to continue. The only thing with COVID, we had an extra growth jump, just adding more people into the games, and also temporarily, that was partly temporary, bit of a revenue jump because of more hours. The structural one was just more players. Altogether, it's just we are starting from a higher level and nicely continue. That's what I would expect with also this growth that we have done in the past. It sounds a bit like if you were this kind of optimal scenario lockdowns continuing in Q1, Q2, everybody's probably out anyway and lockdowns lifted, so it doesn't affect you too much. Would that be a fair characterization? No, because people will not be only outside. I would say, we expect that it's more normal, and maybe there's a few days that people go outside a bit more. We see it also in some of our games at the moment that one, I don't know, FIFA has launched, then we see sometimes a bit less activities in certain games because people are then playing only FIFA. They normally come back, and the nice thing about those MMOs is that really people are extremely loyal, and if they don't log in every day, they also lose some points. There is a lot of motivation there, but there's sometimes that they do a bit less activity, but I'm absolutely not worried about that. No, we think that COVID really has given it a hedge jump in Q2, and after that, we have been seeing very nice growth. Look at the streets, look everywhere. People are not really obeying the lockouts anyway anymore, and so we don't see that effect anymore. On our side, that was, let's say, I think the second question that you had, organic growth. In the beginning, the first four years, we only focused on integrating companies and not putting any energy in organic growth. We have slowly started to build up our in-house game development for further development of games, not for new game development, but further development, which has really shown very good effects, and we are also increasing those activities. We're gearing for, let's say, we're always saying we want to have more than 10% organic year-on-year growth. That would only be, let's say, in line with the market. Of course, we want to do a bit more. We are really good in getting that done now. To the game titles, yeah, we have games on this list, and we are, let's say, one of the few game companies, I think, that is really trying to not make any promises on any new game. If you see, there's 3,000 game launches per month, that most of those flop. Once you have the number in the Google Play Store, 80% of the games have only been played by three players, namely the developer and two of his friends. Yeah. Let's say there is a lot of games that are not successful. Of course, we try to select games much better. We are extremely selective, but to just promise that we are now going to have a game that's doing hundreds of millions or something would be not serious. Therefore, we do our best work on the selection, on launching the game. Yeah, there might be positive surprises, but looking at the statistics, most of them will be maybe nice games, but not changing the world. On the Verve part, thanks for the compliment. What we have so far been doing is really building a basis, a critical mass. The companies that we have acquired were, let's say, nobody was really extremely good in what they did. They also had a specialty, but there was nobody who was really sticking out, which is in general, what we see a lot in the media side. What we have decided from the beginning with our team, that we put roughly 30%-40% of our development resources on really innovation. Verve Edge is one of them. We see a lot of interest also talking to some really larger parties in the market that see that we have a good solution there. Which we need to prove, of course. It's a bit early to say, but innovation on the media side, there's a lot possible and that's what we are strongly focusing on. Best of luck to monetize that. Thank you. Thank you. Our next question comes from Danesh Zare from Redeye. Please go ahead with your question. Hi, Remco, and hi, Paul. Congratulations on the strong quarter and for the very comprehensive presentation. I have a couple of questions, and I'll take them one at a time as we can digest them. Most games in your portfolio are free to play. How much do you spend on UA, and do you expect this to increase as mobile games become a larger share of the overall revenues? Yeah. We spend roughly 8% of our revenues on user acquisition. There's a few things that are influencing that. At the moment that you launch more games, of course, you start to spend more money also on user acquisition because the revenues are not there. You need to, of course, to get the customers in. That would increase the percentage. Also, the more you go to mobile, where the lifetimes are shorter, then also the cost of user acquisition become larger compared to what you make on revenues. If you move more into mobile, sorry, in casual, which automatically, let's say mobile is a bit more casual, would also happen there. That will also increase that part. On the other hand, we also, with our media companies, of course, working on the efficiency, improving efficiencies, which is on the other hand, how to say, is bringing that down. It's difficult to say where we'll develop. Exactly the reason that we went into the media business is that user acquisition is such a key thing for success and for profitability, that that's really a key focus for us. Yeah. Thanks. When you acquired freenet digital during Q3, you guided for double-digit revenues from mobile, so 10% roughly. You did not reach that goal. Could you maybe elaborate on why or why that is? Yeah. Very simple reason. The acquisition was good and really made the revenues that we expected. The problem is that, and I wouldn't say it's a problem, but that the rest of the business is growing faster. Yeah, that's a nice problem. Yeah, it's a nice problem. In that sense, we were not able to keep that promise because that acquisition was not growing as fast as some of the other things. You saw that we did over 40% growth, or let's say almost 40% growth in gaming and over 40% in media. That was something that was much bigger than we expected. Therefore, the percentage of mobile didn't get over the 10%. Okay. freenet still it performed as expected, basically. Yeah. We're learning a lot from it. It's really very good entry into mobile. Also as you see on the list, there's more mobile games coming out, so we'll also profit from that. Yeah, mobile will grow, and we're also looking at mobile acquisition opportunities. Yeah, mobile is an important part also of the strategy, but not the only part. Okay. The programmatic share of media revenues, I had a little bit of hard time catching what you said. Is it basically the DSP plus the SSP revenues that is programmatic? Correct. Yeah. That's 62% is the, what is 12% DSP and 50% SSP. Exactly. You have 38% agency services. Do you expect programmatic to take share over direct bookings and agency services? Is that part of the margin expansion? Yeah. The programmatic part is growing fastest in the market. Also on our side, we see that it's really, especially now with leveraging the different or connecting the different platforms that we have acquired, that is really growing very fast. A certain number of customers always want you to do or let's say want us to do the services. I would also expect that to grow in parallel with the other part. It's fair what you say. We expect the programmatic part to grow faster. Yeah. The margin should be higher, right? Because it's more scalable, no involve for human intervention, so forth. Yeah, the margins are not even that different. Let's say the gross margin on managed is actually higher, but therefore you have much more personnel cost, of course. While on programmatic, it's much easier scalable. As I said before with the other question, the answer that it's really from a certain scale, you get much more efficient, and that's what we're kicking in. Indeed, the programmatic part becomes to be more profitable. Okay. Lastly, the media segment grew really strong this quarter. What do you expect? Of course, you added KingsIsle, which will be very accretive, especially on the EBITDA level for gaming. What do you expect for the future revenue mix, media versus games? Difficult to say. We see strong organic growth on both sides. As you saw also in Q4, they were both growing extremely strong compared to the previous quarter. It's very difficult to say. We are giving the official guidance, as Paul presented, 25%-30% year-over-year revenue growth, which we have been beating basically every year in the last years, or more than beating, but we don't want to over-promise here, are a bit careful. We are happy with both of them. They're both great segments. Not to forget, of course, the synergy between the two, which is also growing, we get more and more synergies out of it. With M&A also, we now did this large gaming deal. There might also be a big media deal coming or a big gaming deal. That will also make a difference there, of course. Okay. I wouldn't dare to give full guidance. What we really want is further fast growth. I think with a minimum of 25%-30%, which basically is already in the pocket with the KingsIsle transaction, we have a nice target. If we can beat that, we will of course do that. Thank you, gentlemen. Thank you very much. Thank you. Thank you. Just as a quick reminder, if you wish to ask an audio question, you may do so by pressing zero one on your telephone keypad. Once again, that's zero one on your telephone keypad if you wish to ask an audio question. Our next question comes from Ellis Acklin from First Berlin. Please go ahead. Yes, good afternoon, guys. Also from my side, well done on the good Q4. Two things I want to discuss with you. Remco, you mentioned early in the presentation that you don't think MGI is big enough in terms of size right now to be aggressive in the mobile gaming sector. I'm just wondering if you could share what level the company would need to reach or what metrics the company needs to reach for you to get more comfortable to be aggressive there. The second question I have, you noted that you're working on a mobile game for Desert Operations. Could you give some hints as to what that involves in terms of investment to get that launched as a mobile game? Yes. Thanks, Ellis. Let me start with the first one. Maybe, let's say I phrased it wrong before. I think we are big enough to go more aggressive into mobile. We have the size now, and we have been hearing from investors, first of all, that we should go into mobile for many years, and we have always been, let's say, not too much listening to that because we said mobile is more competitive. We had to get some things in place to really make a fair chance to be successful in mobile. Because, yes, we admit it's a larger segment and it's also growing a bit faster, but it's also very competitive. One of the important things that we had to get in place was the user acquisition part. With now the media part, we feel really comfortable to be able to do user acquisition in a very efficient way for mobile game apps and also HTML5 games. That's in place now. Secondly, with a lot of IPs that we have, they are like different operations suitable for bringing them to mobile. Thirdly, let's say we see also our selection of those games to be launched, like we see Golf Champions. We are signing up for more mobile games. As fourth part, we're also looking into mobile game company acquisitions, where we also feel more comfortable now than we felt, let's say, two years or three years ago. Mobile is really a big focus point. As I just answered the previous questions, it's difficult to predict. We were planning to do more than 10% of our revenues on mobile, but the rest was growing so fast that we didn't make the target because of that. Yes, I expect mobile to further grow very fast. Okay, great. Thanks. Now what I said before, where we're not big enough for that, is really new game development. That's something that we don't want to touch, because if you want to do new game development, especially for MMO, it costs you like EUR 20 million and more per game. We think that you need to be having enough financial means to develop at least, yeah, to have 10 studios that are each developing three games, basically, to really have a calculated chance of being very successful with it instead of just developing one or two games, because that would be more or less playing lottery. That's also what I tried to refer to before. To your second question. Sorry, I hope the first question is answered by that. Yeah. The second question, typically what we say, and that's more a kind of ballpark, that porting a game to another platform costs us between half a million and EUR 1 million. Okay. All right. If we also then do updates on the graphics, those kind of things, it might be a bit more, but typically we talk about EUR 500,000 - EUR 1 million. Okay, that's very helpful. Thank you for the detailed presentation, guys. Thanks. Thank you. Thank you. There appears to be no further questions registered, so I'll hand back to the speakers for any further remarks. Yeah. We are also overdrawing a bit on the time I saw. Sorry, that was probably me having too long for my part of the presentation, but I also wanted to give the background. I would like to thank everybody very much, yeah, for listening in, for looking at this, and we try to deliver from our side, and we'll give our best also for the future. Yeah, we are already into Q1 and looking forward to also showing the Q1 numbers very soon. Thank you all very much, and also available for questions, of course. Thank you very much. Bye-bye. Thank you.