Good morning, everybody, and welcome to this news conference on Caverion's Q1 results. My name is Milena Hæggström. I'm the Head of Investor Relations here at Caverion, and we are reporting live from our headquarters today. The presentations will be held by our Interim CEO, Mats Paulsson, and our CFO, Martti Ala-Härkönen. Now let's test if we have Mats online. He's joining us from Sweden. Hello? Yes. Hello, Milena. Thank you. I hope you can hear me. We can. The floor is yours. Very good. Thank you very much, and good morning to all of you here from south of Sweden, Helsingborg, where the sun actually is shining, and it's bright today. I will do here a presentation with Martti. It will take around 30 minutes. We will do it virtually without any live audience, as you have noted. Please, next slide, Milena. Can you change slide, please? Thank you very much. The content today will be firstly a market update. I will continue with our overall performance during this period and some recent orders and revenue development. Martti will go into the profitability in detail and the cash flow and working capital, et cetera. Finally, I will close with the guidance, of course. Please, next slide. Here, I will actually start also to summarize the quarter verbally. I would say that we have started this year totally according to our expectations. We have seen the rise of the third wave of pandemic during the quarter. Of course, that has affected our business quite a bit, especially in our projects business. Also, I'm, at the same time, very pleased how we have learned to cope with these different actions and how we have learned in a very short time to use the digital possibilities around us. Despite of the revenue decline, our profitability have actually improved year-on-year. Here we could, of course, see a number of effects, what we have done during the last years regarding downsizing and scaling and focus on profitability. Once again, our cash flow has been extremely strong. If we think about future, I would say that we are now going to search for profitable growth, constantly focusing on productivity improvement, while we will try and do all the best to be very close to our customers. Next slide, please. In Q1, the coronavirus pandemic continued to affect our operations. This was mostly evident in our project business, but we have already seen some signs of improvements in especially the service. Now we are so close as we can be to our target to have two-thirds of our business regarding service, and that's at the moment 65.4% during this quarter. During this period, we have seen also a number of shutdowns for industry, especially in Finland, postponed, and those will actually take place now during Q2 2021. That is something we look forward to. The pandemic has continued to, of course, impact our productivity, especially in our project business, and that is quite evident for all of us to understand. It's not so easy to work with different types of precautions. The demand have been on a lower level, of course, the pricing have been quite tight during this quarter. We expect the economic environment in the first half of 2021 to be challenging, of course, the demand and pricing will be difficult, gradually pick up in the second half of this year. Of course, the different stimulus coming out from the EU will, of course, give us a possibility to find more possibilities around smart buildings and etc. Please take the next slide here, we can have a look at the market sentiment. If we look upon these indicators here, which we get from the European Commission here in March, we can clearly see how it rises, and the sentiment is clearly at the end of Q1 in a positive way. I think we have our possibilities to see how our business will strengthen during the second half of this year in a very clear path. If we think about ourselves in Caverion, our target remains to come out of the crisis as a much stronger company when entering it. We expect the economy will pick up and that we will be able to get a significant amount of economic stimuluses, which will give us a good possibility going forward. Next slide, please. Go over to the group development. Next slide, please. In Q1, we saw, as said before, profitability improvement, which is a positive start into 2021. Our orders and revenue were still impacted by the COVID-19-related downturn, I'm pleased with our ability to manage the crisis, including the adjusting the cost base. It's helped by this clear efficiency and productivity improvements, our adjusted EBITDA improved actually to EUR 16.4 million or 3.2% of the revenue. EPS was EUR 0.05 per share. I'm extremely happy about our service growth despite these shutdowns, as I mentioned before, and all the service ad hocs have been clearly hit last year. The service revenue already reached 65.4% and is at almost the target as I stated before. However, our order backlog decreased by 8% to EUR 1,626.7 at the end of March, and the service business backlog increased by 0.7% compared to previous year. Our revenue in Q1 amounted to EUR 515.3 million. It's down by 4.9% or 6% in local currencies. Our organic growth was negative, a little bit above 5%. It's of course impacted heavily by the crisis and the downturn. The revenue of a service business unit decreased in Q1 by 1.8%, and the revenue and product business unit was down by 10.2%. Once again, our cash flow was strong. Our operating cash flow before financial and tax items amounted to EUR 40.6 million, our liquidity remains strong, our cash and equivalents were EUR 166.2 million at the end of the quarter. Our covenant net debt, EBITDA ratio was minus 0.5. Martti will go into these details quite a bit later here. Next slide, please. Our order backlog increased by 1.1% from the end of the previous quarter. Year- on- year, the order backlog decreased by 8% to EUR 1,626 million at the end of March. At comparable exchange rates, the order backlog decreased by 10%, a little bit above 10%. Order backlog increased by 0.5% in service compared to the previous year. The decrease in project was 17.4%. In projects, of course, the negative impact on order backlog from the downturn, but also that we are much more selective at this point. Also, we think that the pickup is a thing that we now have to be a little bit extra cautious so we have resources going forward. The industry divestment-related order backlog has been cleaned away from these figures. Now let's change to next slide, please, here. Here are some examples from our new projects and businesses we have got. The first one is extremely positive life cycle project for the city of Helsinki. Here we are going to deliver a new college campus in Myllypuro in partnership with Fira. In this project phase, we will deliver all the building solutions, and also in service phase, we are responsible for the technical maintenance of the campus for 20 years. The second case is a continuation of our long-term partnership in operation and maintenance of service of the hydropower plants in PVO-Vesivoima. Our cooperation with them began already in 2011. Our account of good safety work, high quality of work, continuous development, Caverion has proven it's the right partner to maintain the local operations of this plant. The third case here is a turnkey project for a new building at our customer, Thermo Fisher Scientific in Vilnius, Lithuania. Here we offer design and build for all the technical building solutions and implementation of a clean room facilities. Next slide, please. This is an extremely important example here, what we have achieved. That is actually coming down to the NPS improvement. Here you can see how well we have improved during last years. Today, we have a performance of 5.5%, and we have had 2,100 respondents. It's really clear indication how good we are on customer evaluation at this moment. Next slide, please. Now let's have a closer look at our revenue for the period. Our Q1 revenue amounted to EUR 515.3 million. It's down by 4.9% compared to the previous year, 6% in local currency, and organic growth was minus 5.4%. Service business revenue decreased and was EUR 336.8 million in Q1, a decrease of 1.8%, or 3.1% in local currencies. We are seeing early signs of pickup among our service customers. The revenue of a product business unit decreased by 10.2%, or 11.1% in local currencies. The product business revenue was affected by continuously selective approach in projects, and the closure of large projects business in Denmark. In the graph, you can also see the Q1 revenue increased in Finland and Norway, while it decreased in other divisions. Next slide, please. If we think a little bit future wise, I strongly believe that the strategy execution now going forward is that we will climb up again to a good position regarding our profitability. We have progressed very well in the Fit for Growth strategy, and the most of a critical turnaround is actually behind us. What we are going now to do is to continue focus on improving operations. Small steps ahead, and to get to a sustainable, constant productivity improvement when we, at the same time, try to be even more close to our customers. We have a lot of possibilities going forward regarding pricing, procurement, as I said, productivity. Of course, the digital era which are here will help us to reach a higher degree of efficiency and also to transform our operating model. We have continued to invest in organic growth, our own digital platform, remote centers, capabilities, sustainable offerings, sales, brand, etc. We have seen a start of interest toward those parts where we offer life cycle offerings, and that is extremely interesting and it's a good promise for the future. I will now hand over to Martti to go through the profitability and cash flow in more details, and then I will end up in later on with the guidance. Please, Martti. Thank you, Mats. Before going to profitability, let me also comment very shortly on the economic environment in the first quarter. Like Mats already said, what is positive is that we saw early signs of increased investment activity among our service customers in the quarter. At the same time, we are seeing how the economic sentiment indicators, like Mats showed, have rebounded from the deepest COVID-19 effects. Like Mats already mentioned, what is also positive is that we had year-on-year growth in the order backlog for our services business in the quarter. In projects at the same time, however, there was a negative impact on the order backlog from the downturn and from our more selective approach to project tendering, following also our strategy. Let us then take a look at our profitability. Overall, the profitability improvement follows our plans in the first quarter. Our first quarter adjusted EBITDA improved to EUR 16.4 million. This was EUR 12.1 million a year earlier. This is 3.2% margin. There is an improvement of one percentage point in the margin. The absolute figure, there is an improvement of 31.1% year-on-year. Our EBITDA, so the clear EBITDA without adjustments was EUR 15.1 million or 2.9% of revenue, an improvement of 51.3% year-on-year. Our first quarter EBITDA was impacted by adjustments of EUR 1.3 million, mainly consist of one-off restructuring costs of EUR 1.1 million. What I think is positive here is that the adjustments were clearly less than a year earlier. The restructurings completed in the fourth quarter of last year had a clear impact on our cost base, and the full-scale impacts will be visible later in the year. Both business units, that is services and projects, and all divisions, except Finland and Austria, improved their profitability in the first quarter. We can be particularly happy about the progress seen lately in our divisions, Industry, Germany, Norway, and Sweden. In services overall, the positive progress continued, while the demand environment remained stable and comparable to the previous quarter. We have started to see an increased interest towards those parts of our life cycle offerings which help customers make their operations more sustainable. I think this trend, we believe, will very much continue going forward. We can be overall proud of the performance of our services business being overall on a strong level. In projects, the pandemic continued to impact our productivity to a certain extent, while market demand remained on a lower level. On a positive note, there were no large-scale write-downs in the quarter. We continued to deploy the best practices in projects, and like we have said earlier, our risk exposure related to projects is lower going forward due to the various efforts we have made in project management, execution, and financial steering. Looking ahead, looking forward into this year, like we have said earlier, our target remains to come out of the crisis as a stronger company than entering it. We saw now clear improvements in the first quarter, and we are confident on our ability to continue improve our performance. Let us then turn to cash flow development. In the first quarter, as cash flow was again strong, operating cash flow before financial and tax items amounted to EUR 40.6 million, slightly lower than last year, but it's of note that our cash conversion, measured as a last 12 months figure, was 137.4%. This last 12-month cash conversion is clearly above our financial target level, which is higher than 100% cash conversion. We can be very pleased about the cash flow continuing on a strong level. Our free cash flow amounted to EUR 28.9 million in the quarter. Our capital expenditure was EUR 4.3 million, almost only half of what it was a year earlier at last year, EUR 8.3 million, clearly lower, with IT investments totaling EUR 2.2 million and other investments including acquisitions, EUR 2 million. Actually, we closed one minor bolt-on acquisition in the period, acquiring the business of a company called Elektro Berchtold GmbH in Austria. The company is a provider of maintenance services for ski lift and snow systems in Austria, a small bolt-on acquisition. Going forward, based also on this good cash flow, we are actively looking for acquisitions during this year. As we have stated many times, an important contributor to our cash flow has been that we've been able to decrease our working capital. In the first quarter of this year, our working capital improved to -EUR 176 million. A year ago, the figure was -EUR 127.3 million. There's an improvement of EUR 48.7 million year-over-year. Actually, this -EUR 176 is a new record low level for us. We can be very happy about that. The continuous improvement in working capital and the actions what we have been going through in recent years, they have continued. We have a tightly weekly follow-up of invoicing and receivables. We have been negotiating improved payment terms in purchases and projects. We are focusing on resolving our risk projects, old risk projects, and we have invoicing-related KPIs and competitions at various levels of the organization. As an example, I have stated also earlier that improving our invoicing lead time in ad hoc services and projects. We have gone into centralized management of invoicing. This is the last thing that we have been taking forward in all our operating divisions in the last few years. In this slide, we can see further how our continued efforts to improve working capital have paid off by division. When looking at the overall picture, the working capital breakdown, we can see wide improvement across all divisions compared to the previous year. There are improvements actually in all divisions except for industry and Germany compared to the previous year in the first quarter. A few words on financing. On this slide, we can see our debt maturity structure at the end of the first quarter. Our net debt to EBITDA, including lease liabilities, amounted to EUR 98 million, versus EUR 142.8 million a year earlier. This is down by EUR 44.8 million. Our net debt was clearly down, backed by the strong cash flow. Our net debt excluding the lease liabilities, this is excluding those IFRS 16 lease liabilities, amounted to a -EUR 27.4 million, versus EUR 11.8 million a year earlier. There's an improvement on the net debt down excluding lease. This is down by EUR 39.2 million. Our bank loans mature in February 2023. This consists of a term loan of EUR 50 million and an unutilized revolving credit facility amounting to EUR 100 million. Our EUR 75 million unsecured four-year bond matures in March 2023. Our EUR 35 million hybrid bond has the first call date in May 2023. As we know, the hybrid is treated as equity in the IFRS financial statements. We can also see in the graph that we have very little debt maturing either this year or in 2022. This is of course, very good. This slide shows finally the development of the group's leverage level, net debt to EBITDA, since the fourth quarter of 2017. According to the confirmed calculation principles with our lending parties, our net debt at the end of the first quarter was - 0.5 x versus + 1.1 x in a comparison period. This is actually a historical low level, this minus 0.5 x for us as a company. The slide also shows our strong liquidity position and the high amount of undrawn credit facilities at the end of the first quarter. Like Mats already mentioned, our cash equivalents have grown. Now they amounted to EUR 166.2 million. There's growth of EUR 53 million compared to a year earlier. In addition, like I already reviewed, we have these undrawn credit facilities of EUR 100 million and undrawn overdraft facilities of EUR 90 million for our usage. Overall, the low leverage level, the strong cash position, and naturally, this all provides us good firing power for future acquisitions going forward. Like I mentioned earlier, we are presently actively looking for acquisitions. I will close here now and hand it back to Mats, who will continue with the latest update on our guidance and the dividend. Thank you very much, Martti. Here, finally, next slide please. In 2021, Caverion Group's adjusted EBITDA will grow compared to 2020. As you all know, the annual general meeting held on March 24th decided that the dividend of EUR 0.10 per share and an extraordinary dividend of EUR 0.10 per share will amount to EUR 0.20 per share were paid for the year 2020. The payment date was the April 7th, 2021. Regarding the guidance also, we have still the COVID-19 here, and during the year we will probably sharpen our guidance. At this moment, this is actually the guidance we give. Thank you very much. This actually concludes the presentation, and we are now able to take the first question. I will hand over to you, Milena. Thank you, Mats. We can now open the line to the conference call, so please over to the operator. Thank you. As a reminder, to ask a question, press star one. We will now take our first question from Anssi Kiviniemi with SEB. Please go ahead. Your line is open. Hi, everyone. It's Anssi from SEB. Thanks for taking my questions. I have couple of them. First of all, kicking off in Finland and Austria. You highlighted profitability improving every other market except for Finland and Austria. Is there something particular in those market or has something happened or how should we read the situation? That's the first question. Thanks. I would answer that in the way that actually the best performance in the group were actually, and still are, these two divisions. It is not easy to always keep at that high level. There has been some small hiccups during the road, but nothing particular. Nothing to be worried about. Thank you. Okay, that's clear. On sales in Austria, we saw a big decline there. Could you elaborate a little bit what is happening in the market? Yes. I would say that in Austria, our main business is project related, and because of the pandemic, there has, of course, been a lot of decisions which have been postponed. We actually have suffered a little bit from that. We are quite certain when there's things and the environment stabilizes, that will pick up gradually during the second half of this year. We don't feel worried at all. Okay, thanks. On cost savings and restructurings you made at the end of last year, sales came down, but margins clearly improved in Q1, and I was wondering if you could elaborate a bit on to which extent, in euro million terms, Q1 was supported by the cost savings measures. I will address that question to Martti. Yes, thank you for a good question, Anssi. Like we have said that we will see a savings of at least EUR 25 million this year compared to last year. We have said that we are following that pace, and those will be materialized. We are very well on that track. If you look into our cost categories, of course, in the IFRS statement, it's a bit more bounded together. In our management accounting, we follow sort of variable costs. We divide our cost by variable personnel and fixed personnel, and the majority of those cost savings were directed actually to both categories, but mainly to white collars rather than blue collars. You can see quite a large effect actually in the employee benefit expenses. I think there will be further realizations there. Some of the issues relate, of course, to other operating expenses. We have combined a lot of our units, renegotiated better payment terms. We need less cars, other equipment when we are streamlining. I also want to highlight that this streamlining was really targeted at bringing us closer to our customers, closer to our units. Eliminating some unnecessary layers or issues so that we can be more efficient. We have tried to do it so that there's a minimal impact to our OD levels. Okay, great. Thanks. On guidance adjusted EBITDA to grow, are there any specific thresholds in the guidance, or is it just an absolute terms adjusted EBITDA growth? Maybe I could- Please, Martti, you can take that as well. Yeah, I can take. Couple of years back when we used to have a threshold, something is significantly higher if it's over 30%. At this moment regarding guidance, there are no thresholds, so it just grows. Like Mats mentioned, we might revert back to further define during this year as we go forward. At this point, it doesn't have any thresholds. Important to note. Good question. Okay, thanks. The last question is on balance sheet. Okay, sorry. Yes, I'd like to comment that as well. We still feel some kind of uncertainty, of course, regarding the COVID-19 situation. We think it's extremely important to be cautious in this position. Going forward, we will be more accurate when we can be sure that things are going to happen. Exactly. We really would like to still trust in this moment. Thank you. Please, next question. Great. Thanks for the clarification. The last question is on balance sheet. If we do not look at the lease liabilities, you are in net cash position. You are aiming to do acquisitions. I was wondering if you could little bit talk about what kind of assets and in which markets you are putting your eyes in. I think that is diversity. We, of course, as we have communicated before, we are targeting digital arena, automation, cooling, etc. We also see possibilities to strengthen our local positions where we are weak going forward. That is something which we'll be more accurate also going forward. We are actually starting a new strategy period now, we will be more focused on that going forward. Okay. Could you then elaborate a bit on what are the regions, disciplines you could see that you could be a little bit more stronger? I would say that we want to generally grow in service, meaning that in all the divisions where we are capable, we want to be part of every local city or every local market, of course. We can see possibilities to grow overall. A clear target towards service offerings, clear target towards cooling, automation, and also the digital offerings. That is a mix because our divisions is very different. If you have the best performance, for example, Finland division, where we have a closeness to all the customers all over Finland, more or less. If you go to other divisions, we don't have the same presence. We have a lot of possibilities to do acquisitions going forward. Now we are in such a good net position as Martti explained earlier. Okay. That's all from me. Thank you very much. Thank you very much for your good questions. Thank you, Anssi. Again, as a reminder to ask a question, press star one. We will now take our next question from Svante Krokfors with Nordea. Please go ahead. Your line is open. Hi, Svante from Nordea. Thank you for taking my questions. Most of them have actually been answered already, but perhaps a couple. You say that certain annual industrial shutdowns in Finland postponed from last year and will take place in Q2 2021. How should we interpret this? Will they be visible mostly in Q2, or should we expect that it will be from Q2 onwards? Do you see that either larger or smaller projects or business have been postponed also further until 2022? Thank you. Yes, I think it will be visible from Q2 and onwards, strengthened during due time, I would say. It's of course corona related, and it's also depending on what's happening in our societies. Generally, there has been cautiousness to take on new activities where people have to be in the same work site. So it's very much connected to overall improvement of possibilities after the vaccination and so on in our societies, I would say. We feel very confident that it will actually happen. We see a strong demand at least from our customers. Yes, thank you. Perhaps on the course. I think the question was on the shutdowns. I think on the shutdowns, probably mainly in the second quarter, there is this one large shutdown service which has started in April. It's currently ongoing. We are taking part. Referring to what Mats answered, of course, more generally, the current base case is that there would be gradual economic recovery, which would also help the service business. We saw now early signs in the first quarter of such. We'll see as we go forward how the markets develop. There are certain risks still with COVID-19, as we know, and hence we are slightly cautious, but I think that's clear, the base case is clear. Thank you. On the cost savings program, which you target at EUR 25 million, do you want to give some indication on how big the net cost savings will be? I think you have earlier said that you intend to invest some of those cost savings into digitalization, for example. Yes, we will. You can also answer that, Martti, if you want. Yes, we have said that it will be couples of millions, not tens of millions. That's the answer. Up to EUR 5 million. Okay. Thank you. you. That's all from me. not hugely. It's still an investment. Okay. Thank you. Thank you very much for your questions. Thank you. We have no further questions. I would like to give the call back to our presenters for any additional or closing remarks. We would like to thank you all for listening to us, and thank you for the questions, and we do look forward to see you after next quarter. Thank you very much. Thank you. Thank you very much.