Good day, everyone, and welcome to Tallink Grupp's webinar of the second quarter results of 2022. As customary, we will firstly present the results of the quarter, and thereafter we will proceed to the questions and answers. We will initially address the questions that were sent to us prior to the webinar. It is also possible to ask questions during the webinar by writing in the question and answers box. Although it is possible to join the webinar and ask the questions anonymously, we'd kindly ask you to identify yourself by writing your name before asking the question. Now I would give the floor to Margus Schults. Good afternoon also from my side. I would like to present you the results of Tallink Grupp from the second quarter of 2022, and also highlight the business events. On this slide, we have our key figures in a nutshell. Not much changed since last time. We have, since Q1, sold one vessel, Sea Wind, our cargo vessel, and this means that we have now one vessel left. The routes we operate and hotels we operate, nothing has changed since Q1. We have still one suspended route, it's Riga-Stockholm, and also closed hotel in Riga. On Tallinn-Stockholm, we operated in Q2 with one vessel, so 50% of normal capacity. Otherwise, the information is very much the same, unchanged. Maybe what I would like to highlight is that, in spite of crisis and, all kind of turbulence, we have, pleasure to see that the number of, loyalty program, Club One, has continued to increase. Now we reached already three million loyalty members. We started to hire the employees. When pre-COVID time we had over 7,000 people in our group and the lowest number was below 4,000. Since we started to operate several new vessels again, we started to hire also people and currently we are around 5,600 people on board. The operating environment continued to be very complicated also in Q2. Of course, the COVID was replaced by other challenges in business environment, by very high, inflation and fuel prices. Also other purchases, what we do, increased the prices. Of course, last but not least, politically complicated situation and war in Ukraine has decreased the confidence of customers. Therefore, we have looked already different opportunities to have charters for our vessel instead of operating on normal routes with very risky environment. Romantika, we already announced that this was chartered to Holland to operate between Holland and Norway. Now this operation has taken place already the entire quarter, so these are reflected already in our results. In April, we hired a short-term time charter for cruise ferry Isabelle, which is normally operated on Riga-Stockholm. Now our vessel is laid up in Tallinn and used as accommodation vessel for refugees. We had three vessels in a dock during quarter, which has some impact on our results. As I mentioned, we sold our cargo vessel, Sea Wind, but the impact on our balance sheet and profit and loss statement was really minor. During the quarter, we also opened a new Burger King restaurant in Tartu. By end of June, we have totally 16 restaurants opened. In June, we amended the terms of a EUR 100 million loan agreement with KredEx, which was originally planned to be paid in June 2023. Now by the amendment, the agreement was prolonged until 2026. From original date in 2023, we start also scheduled payments, and then we have a bullet in June 2026. The number of key numbers for Q2 on this slide. You can see that the number of passengers is more than three times higher than in 2021. Of course it's reflecting very low base in 2021 due to COVID restrictions. The number of cargo units has been quite stable during the whole COVID crisis period. In Q2, we managed to increase the cargo by 19%. The number of cars and passengers' cars also increased as the number of passengers increased by almost double. Of course, since the cars have been affected less during the crisis, people prefer to use own car instead of using public transport, then the growth has been almost 80%. Revenues were in Q2, EUR 206 million, which is EUR 120 million higher than a year ago during the same period. We had, of course, more departures also. Also we can see that there are strong passenger volumes, and also average purchase of on board and also average ticket price have remained quite solid during the whole quarter. On cost side, we have, of course, increased the cost of sales because of the higher volumes, but most impact on our quarterly result has been from the fuel cost, which is increased more than 200% and on quarterly level, it's increase of almost EUR 30 million. Government support basically has been ended in all our home markets, and we received only EUR 600,000 versus EUR 6 million during Q2 2021. The EBITDA as a result of the above increase of revenues and increase of cost was almost EUR 29 million, which is EUR 24 million better than Q2 last year. Net loss, we were almost on breakeven, so very small net loss, EUR 0.7 million, which is significant improvement from the EUR 24 million loss a year ago. As I said, total assets, total equity almost not changed, and the interest-bearing liabilities has decreased by EUR 43 million as a result of the debt payment, which we restarted, since until Q1, they were seized by our creditors. On this slide, you can see the comparison of our volumes and also results comparing the normal year. On left side, we indicate the number of passengers on different routes comparing our last normal year, 2019. You can see that Finland, Sweden is doing quite well. The volumes exceed already 70% of normal years' volumes and continue to increase. On Estonia-Finland also the volumes have been quite high since after Q1 low levels due to COVID, and have reached around 65% of the normal years' volumes. Tallinn-Stockholm, Estonia-Sweden route is doing well. The volumes have increased since during Q1 and reached 55% of the volumes. I remind everyone that this route is now operated with one vessel, 50% capacity versus two vessels in 2019. On the right side, the numbers you can see the comparison of the three last years, 2019, 2020 and 2021. Finally also a sliding window, last 12 months, Q3 2021 until Q2 2022. Basically, if you compare 2019 with the last 12- month result, then number of passengers have reached almost half of the numbers in 2019. Of course, 2019, we had, like I mentioned, several vessels more in operations comparing this year. Number of cargo units has continued to improve. Comparing 2019, it is 6%+. But since I mentioned, that average price has been quite high and the number of cars has decreased less comparing to the decrease of number of passengers, then our revenues have reached EUR 650 million in last 12 months period, comparing EUR 950 million in 2019. Comparing to volume reduction, which is -53%, it's -32%. EBITDA has continued to improve from year to year during the crisis. Now the sliding 12 months period showing EBITDA EUR 78 million and net result EUR -38 million. This EBITDA net profit, of course, are mostly affected during last 12 months by the Q1 trend this year, where we had more than EUR 40 million loss due to strict COVID restrictions. There are also several events what happened after the reporting period. We see that war in Ukraine, a high negative high inflation and also high prices of fuel will affect us in the short term, definitely further. Therefore, we continue to explore different options for chartering out vessels. After reporting period, we were able to charter out Victoria to Scotland as an accommodation vessel for six months period, with the option to prolong it three months. Today, one hour ago, we announced also chartering out of Silja Europa and Galaxy as accommodation vessels to Holland. Both vessels will stay there for seven months period as accommodation vessels, and there are also option for both of them to prolong it by three months. In total now we have six vessels chartered out. As I mentioned earlier, we have also Isabelle chartered out for short-term. We have Romantika chartered out long-term, and then we have already many years Atlantic Vision on charter in Canada. We expect also during Q3 in September, a new vessel to our fleet. MyStar is in the final stage of constructing in Rauma, and we expect that delivery and operations will start in September this year. Now I give back floor to Joonas Joost, and he will go through the numbers in more detail. Thank you. Thank you, Margus. Yes, let's take a quick, a bit more detailed look into the figures, starting with the sales by operating segments in the second quarter. As Margus mentioned, in the year-over-year comparison, in 2021 second quarter, operational environment was very much defined by high restrictions and extremely limited operations. Therefore, this year, when the COVID restrictions have been lifted, we have had much more overnight trips, routes, and cruise service. Therefore, the restaurant and shop sales on board and onshore has increased very significantly compared to last year, and also ticket sales. The revenue structure overall resembles a typical structure that we have had in the previous years. Also the split between the revenue and ticket sales increase compared to last year is adhering to the same dynamics. The sales of cargo transportation has been a bit higher than last year, EUR 4 million, and this is also driven partly by the fact that we have had more ships in operation in more routes. Accommodation sales is up by EUR 2.8 million, which in itself does not perhaps seem too significant in the greater scale of things. However, last year, we had only one hotel effectively open, and the sales was only negligible, EUR 100,000. This year, we've had three hotels in operation and much more significant turnover. As mentioned, we have had more vessels in charter. In addition to Atlantic Vision on Romantika throughout the quarter, and then Isabelle started from mid-April. This is the change there. In terms of the routes we operate, then all of the routes have been affected by the fact of the development that last year there were high restrictions which were not there this year. There has been definitely increase in passenger demand. Estonia, Finland increased over last year is EUR 37 million. Compared to last year, the only addition here is the cruise service between Tallinn and Helsinki. The two shuttle vessels and one cargo vessel was operated a year ago as well. However, due to the restrictions, the passenger flows have been much greater than last year. On the Estonia-Sweden route, the difference is attributed mostly to the fact that last year only two cargo vessels were operated between Paldiski and Kapellskär. This year, there has been also one cruise ferry operating between Tallinn and Stockholm. However, there has been only one cargo vessel this year compared to two vessels last year. Finland-Sweden, we did operate Turku-Stockholm routes a year ago. But due to the COVID restrictions, travel restrictions, the demand was rather limited. This year, Helsinki-Stockholm route is also operated by two ferries, and it has been very well-received by the passengers. As Margus showed earlier, the recovery in the number of passengers has so far been the best on the Finland-Sweden routes. In the other segment, the change mostly attributes to the chartering of the vessels and hotel sales, and to smaller extent, also various retail activities. Perhaps a quick snapshot also on the quarter seasonality breakdown. In terms of the passengers, we are again resembling more normal volumes, even better result than in the 2020 summer months in third quarter. Overall, the result is 2.3 million passengers in the first six months, which is already a quarter of the result that we achieved in the entire 2021. Cargo volumes have been robust throughout the COVID crisis and have been also quite good in both of the first quarters of this year. In terms of sales, the second quarter result, EUR 206 million is 80% of the volume we did in second quarter of 2019. In the first quarter, it was 60%. We can see clearly that this quarter, the sales has been the highest since the start of the COVID. So definitely on a good track here. EBITDA, despite the overall increase in efficiencies still has some room to improve relative to the pre-COVID levels. Yes, the high fuel price is a key factor here, having negative impacts on the result. The same dynamics are also visible on the net result level. However, the almost breakeven result is a very significant improvement over the second quarter results we had both last year and two years ago. Actually, in terms of midpoint, we are closer to the result in 2019 than we are to the result of 2021. Although Margus also touched the dynamics of the earnings this quarter, I would add perhaps here on this slide that the marketing and administrative expenses also have expanded in line with the expanded volume of operations and more ships en route and also more passenger demand. Majority of the year-over-year increase is coming from marketing activities. Other operating items which are significantly less than last year attribute mostly to the government assistance support paid to us. The EBITDA margin in Q2 was near the 14%. Just as a reminder, in 2019, it was 20%. We are looking to move closer to that, obviously in the coming periods. In terms of cash flows, the operating cash flow was positive EUR 45 million in this quarter. This was supported both from the operational result, but also the favorable working capital dynamics ahead of the high season months in the summer. Investments, EUR 9 million, a bit above result last year. Still, the investments have remained fairly low, doing only the most critical items needed. These are attributable mostly to the maintenance of the ships, and also to a lesser extent, also some of investments related to MyStar. Here it is also quite well visible that we restarted the debt financing and principal payments in second quarter of this year. The net impact of the financing moves is EUR 44 million cash outflows. Overall, the change in cash during the quarter was EUR -10 million. Indeed, in financial position, no big moves, aside from the fact that we started reducing the debt load again in this quarter. The cash balance stands at solid EUR 91 million at the end of the quarter, equity at EUR 652 million and net debt at EUR 656 million. Compared to the beginning of the quarter, the equity ratio improved slightly to 42%, and the book value of the share stands at EUR 0.88. Also, not insignificant, the fact that combined with the unused overdraft amounts, the cash and overdrafts combined to EUR 277 million in total liquid funds available to us. Very lastly, a look at the financial debt, which totaled together long-term bank loans and used overdrafts at EUR 636 million at the end of June. Altogether, we continue to have seven loan agreements, and the long-term debt balance is EUR 618 million. The maturities of the debts fall in the range of this year and in the next seven years. We have interest rates of these loans, both fixed and floating agreements. Lastly, as we still have not taken delivery of MyStar and the EUR 198 million loan from the KfW IPEX-Bank GmbH remains yet undrawn. This concludes the presentation part of the webinar. We would now proceed with the questions and answers. Starting with the questions that were sent to us prior to the webinar. Good afternoon also from my side. My name is Paavo Nõgene, the CEO of the company. Before we go into the questions, just want to highlight that we living in the challenging times. We have had two years of COVID. Now we adapting our company with the impacts which coming from the war. If I would comment the quarter two, then I know that we can take out of the fuel cost, but if we eliminate the fuel cost and compare the numbers with 2019, then actually the company is much more efficient. Understandable is that to adapt with all the business with such kind high fuel prices takes some time because we can't just forward all the cost to the customers without losing the market share or changing the business. We have worked hard since the war started and energy prices hiked and definitely also these news is we just released today a bit more than one hour ago that we charter out some vessels for the low season period helps us to improve our, especially the fourth quarter and the next year first quarter results which help us to cruise through this challenging times and hopefully show positive results in coming year. Now we can go to the questions and, Joonas, please. Thank you, Paavo. The first question actually has been already answered during the presentation. The question was, when will MyStar come? As highlighted before, we expect to take delivery of the vessel in September this year. The next question is: "What are the main determinants when making the decision on whether to start with the second ship on the Tallinn-Stockholm route?" First of all, of course, the business outlook both from the sales and cost side, demand, as Margus just mentioned, we're operating right now with one vessel only, but we reached around close to 60% passenger levels, which shows that we have enough capacity still to sell the tickets with one vessel only. As we really need to carefully calculate which is better to operate with one or two vessels, we have done it throughout this crisis and continue it. We are not planning to put second vessel to Tallinn-Stockholm route before the next early summer. Before making the deep calculations, we'll analyze how we continue, but yes, not before the next early summer, the second vessel is not expected to start in Tallinn-Stockholm route. Thank you. Next question: "Could you give a feel for if the fuel cost has come down in July compared to Q2 2022? You mentioned that June was profitable on the bottom line. Was this mainly due to the price of fuel coming down?" The second quarter, the fuel prices were the highest end of June. Profitability in June, despite high fuel prices, is mostly due to increase in sales volumes and also the company's efficiency. In July, the global fuel prices have been a bit lower, but still relatively high. Yes, they are more comparable to May. Thank you. Given that the second quarter was almost break even at the net profit line and the third quarter is usually stronger than the second quarter, is it fair to assume that the third quarter should be profitable? Yeah. We definitely work on it that third quarter should be the profitable. Third quarter just started. We will announce our July passenger numbers in coming week. As we all know, we don't know what's happening in August and September, but so far, yes, of course, we expect that historically, the strongest quarter for Tallink Grupp will be the strongest also this year. Thank you. Next question: "How is the development of tax-free sales on board? Are there bigger price adjustments than usual on board regarding inflation, compensation of other costs or market adjustments?" We monitor all the prices on land and also on competitors. Of course, due to inflation and different price changes also to us, we need to adapt the prices and have done it. Historically, we have changed our onboard menus and assortment in spring in May. There were also some changes, but they are not very big ones. As we see from the onboard sales, people are quite spending quite a lot, and so the pricing seems to be correct and good for the customers. Thank you. The last question, which was sent to us prior to webinar: " on Åland, t here is a rise in public opinion against the tax exemption because of the new customs regulations and administration. Even if it is not likely that Åland will become a part of the EU fiscal territory again, have you ever discussed how it would affect your business if the tax exemption was removed or reduced? For example, regarding routes, Åland traffic, ticket prices, and ships." Of course, if the tax system will be changed for Åland, there are less motivation for the shipping companies to go to Åland. I think that it's biggest problem is for Åland than if something will change. In one hand, it would negatively affect both the pricing and the margins, but on the other hand, it would also allow to sell in greater volumes, as tax-free would have the limitations and so on. Once more, I think if this system will be changed, it's the biggest problem for Åland, and we hope that everything stays like it, like it has been since the joining the European Union. Thank you. Next question: "In Q1, you indicated that the aim is to finish 2022 with a small net profit or to be breakeven. Considering the half-year progress and expectations for the second half of the year, do you still believe you're able to achieve that?" We work for it. Of course, we don't have this magic crystal ball of what's happening in August, September, October, November, December. We believe that today it's still achievable. Of course, we have seen so many unexpected things during the half year. Let's do our best to do that, and let's hope that we can really end this year at least in zero. As said, different challenges all the time, but we try to find the best solutions for the company and also these charters. Already six vessels chartered out of our 14 helps definitely to achieve this milestone. How will chartering out of vessels affect your need for employees? Will you need to reduce the crew or rather, will there be less trouble with hiring? Together, we've announced that Galaxy will be chartered out. We started today the redundancy process in Sweden, which will affect up to 265 employees. What happened in Tallinn and Estonia, we currently don't need to change amount of employees because the new building, MyStar, is coming and we can, let's say, that employees can have the work on other vessels. Right now, the biggest change will be in Sweden. Maybe you can also comment on the passenger mix in the second quarter. Share of international tourists, for example. International tourists, of course, are smaller than our home markets. Finns traveling well, Estonia is traveling well, and also Swedes waking up. Yeah, we haven't seen big number of tourists from the United States or Germany. Of course, yes, we have also customers from Germany and the United States. As 2019 or pre-COVID period, we have had many passengers from Asia. Right now, the majority is, of course, from Finland, Estonia, Sweden. Thank you. Will Galaxy be replaced on the Turku-Stockholm route? Right now, we don't have such plan. Thank you. Please comment why you choose to charter one Turku-Stockholm vessel. Market conditions? Increased competition? Will you go with just one ship or move any other vessels to this route? We decided that we want to lower the capacity on Turku-Stockholm route. As we got request for the Galaxy, then we decided to take this charter and charter Galaxy out to Holland. Thank you. This has concluded all the questions there have been today for us. I would like to thank all the participants and investors, and we will meet again in three months' time. Thank you and goodbye.