Good morning, everybody, and welcome to follow this info session on Caverion's full year results. My name is Milena Hæggström. I'm the Head of IR here at Caverion, and the presentation today will be held by our CEO, Jacob Götzsche, and our CFO, Martti Ala-Härkönen. Please go ahead, Jacob. Thank you very much, Milena, and also good morning on my behalf. I will share this morning's presentation with Martti, our CFO, and it will take about 30 minutes. Today, we will cover four topics. We will look at our market update and our operating environment. Then we will continue with our group development during the period, including recent orders, our revenue development. Then we will also touch upon our strategy work, including a brief overview, our EU Taxonomy reporting, and an update on our sustainability strategy. Martti will then cover the third topic, where we go into our profitability, our cash flow, and our financing in more details, and also go through our very strong liquidity position. Finally, I will close with our current guidance for 2022. Before going into the details, I would like to start by highlighting three key points of the quarter. One of the highlight of the year was our order backlog. It was growing strongly. It was up by 15.8% compared to previous year. The growth came both from service and projects that I'm very happy about. I'm also satisfied with our profitability improvement, which was visible throughout the year and continued in Q4. In Q4, our revenue also turned back to growth, and our cash flow rebounded strongly. All this together provides a solid foundation for a profitable growth in 2022. Excuse me, we have a technical problem here. Now, I'll start with the first topic of the operating environment and the market update. The Corona pandemic continued to have an impact on the operating environment in 2021. Firstly, there was a lot of new variants of the coronavirus affecting the business operations negatively, primarily due to restrictions reimposed by governments, and then a slow start of new investments in the beginning of the year. In between the new waves of coronavirus, the governmental restrictions were lifted and the operating environment improved. However, the year closed in uncertainty with soaring numbers of Omicron variants, infections, and governmental restrictions being reimposed. Furthermore, we saw increasing number of sickness and infected people of our employees and their relatives, and consequently more people in isolation, putting pressure on our company. However, so far, our people have done a stunning job to continue to deliver high quality to all our customers. I would like to thank all our employees and the families for the support and dedication during 2021. Last but not least, during the year, our market was impacted by increases in material prices. There has also been supply shortages and delays in some areas. We have proactively taken various measures to optimize the supply chain and to manage pricing. The service share from our revenue was approximately 65.5% in 2021. We saw increased investment activity among several customer segment as of the second quarter, such as industrial shutdowns that was postponed in 2020 due to Corona. We also talked about that in Q3. In projects, there were clear signs of the market stabilization as end of Q2. In Q3, the market demand started to pick up also on projects, and the trend continued until the end of the year. The market was impacted by increases in material prices during the year, while we didn't see the stimulus package did not yet have a clear impact on the general demand. Furthermore, we continued our selective approach for projects. Based on the market outlook for 2022, we expect the market demand to be overall positive in both service and in projects for the coming year. Let's have a look at the economic environment that we are operating in. On this slide, you see the economic sentiment and the construction confidence indicators issued by the European Commission in December 2021. In general, the economies in our markets are doing fine. There is now a clear uplift in these lead indicators for our main operating countries from the deepest COVID-19 effects. We are, based on these indicators, positive about the market development in 2022. This is, of course, supported by healthy order backlog and our expectation on stimulus packages. We are pleased that a significant amount of the economic stimulus packages that have been discussed on a European level seems likely to be directed towards sustainability and sustainable investments enabling smart buildings and cities. This is an area where we have our strategic focus and expect to benefit from the future. Now I will talk about the group development. Here is a summary of the year 2021. Our order backlog was up by 15.8% at the end of December, driven by both service and projects with a growth of 14.1% and 18% in projects. Our revenue in 2021 was EUR 2.1395 million. It was down by 0.7% from previous year. However, we are pleased about the service growth, which was up by 2.7%. Service also accounted for 65.5%, up by 2.2 percentage points from last year of the group revenue. This is nearly in line with our target of two-thirds of the revenue. Our organic growth ended at -2% for the year. We continue to see improved profitability, reaching an EBITDA of EUR 87.7 million. This is an uplift of EUR 27.1 million compared to last year and nearly 45%. This gave us an adjusted EBIT margin of 4.1% of the revenue. This was also a strong result at the end of Q4, where we had earnings of EUR 30.1 million. Our operating cash flow before financials and tax items also rebounded strongly after a more challenging Q3, and it ended at EUR 103.8 million for the full year. Our cash conversion, it's our ability to turn our earnings into cash, also ended at a very good number with 91.2%, which we are really pleased about. Our liquidity position remains strong and our leverage is at a low level, and Martti will come back to that when he covers our financials. Of other important events to mention, we also completed seven bolt-on acquisitions this year, of which three in Division Germany and Norway and one in Q4. I will also get back to that later. We closed, at least signed, one divestment. We sold our non-strategic subsidiary in Russia by the end of the year. After this sale, we are no longer operating in Russia. This will minimize our operational risk, and going forward, we can ensure we are even more focused on our core market. This was the high-level summary of 2021. Let's have a closer look at our order backlog. A highlight of the second half of the year was that our order backlog continued to grow strongly, both in service and in projects compared to last year and compared to Q3. This provides a solid foundation for the profitable growth in 2022. Our order backlog increased, as I said before, with 15.8% to EUR 1,863.8 from the end of December last year, where we had approximately EUR 1.6 billion. At comparable exchange rates, it was 15.5%, so nearly the same. As I just mentioned, the order backlog increased by 14.1% in service and by 18% in projects. All in all, a very healthy development and a good basis for 2022. As you maybe remember from 2020, our order backlog split was approximately 50% that would come into play in the following year and the rest for the future years. This is probably a good estimate of our order backlog split in general, and also a proxy for 2021. You will see the exact numbers in our financial statement that will be published in week nine. Customers and customer experience are our top priority. This is to ensure we deliver our purpose with our great employees. We are pleased to share three examples of our recent contracts showing our capabilities in smart and sustainable solutions for our customers. The first one is a good example of our capabilities in building EV charging infrastructure. We have put a lot of focus on sustainability and smart technology, and developing our charging infrastructure is an important part of a sustainable smart city. Here our customer is Skellefteå Kraft, and we install fast EV chargers in OKQ8 network of service stations throughout Sweden. Our engagement ensures that the infrastructure and the electricity grid are interconnected. The contract covers altogether 86 EV charging stations, and it's these chargers that is called the so-called fast chargers and have a power of 150 kW. In the second case, we support Atria, one of the leading food industry companies in Northern Europe, in their factory expansion. Here we are implementing technical refrigerating piping for the expansion of Atria's poultry factory in Nurmo in Finland. The technical pipelines of the factory expansion consist of cooling, domestic water, sewage, compressed air, pressure washing, and partly heating. The investment project is the largest investment in Atria's history, which will increase the poultry production capacity in Finland by approximately 40%. The total area of the new factory building is approximately 36,000 sq m. Certainly, we are pleased to continue our strong cross-border partnership with Technopolis. In addition to the technical maintenance service on nine campuses in Sweden, Finland and Norway, we are also supporting Technopolis in their expansion in the Swedish real estate market as they have recently acquired Kista Campus in Stockholm. In this building, we provided the full scope of technical maintenance service, key account managed service, remote center service, energy management service, et cetera. Our collaboration with Technopolis has recently been extended to include also large investment projects. We deliver, for example, Caverion automation for buildings at their campuses in Gothenburg and Oslo. We grew together with our customers, and this customer is good example of that. This shows the great example of the potential in the markets that we are focusing on. Now let's have a closer look at our revenue for the period. Let's start with Q4. Our revenue amounted to EUR 585.3 million. It's up by 1%. The revenue were positively impacted by fluctuations in the exchange rates of the Swedish krona and Norwegian krona. In Q4, our revenue increased in Sweden, Germany, Austria and Norway. The organic growth was -1.1% for Q4. The service growth was however positive with 0.6% in Q4, while the organic growth for projects was -4.3%. The revenue of service increased and was EUR 390.1 million in Q4, up by 3%. The revenue in projects was EUR 195.3 million in Q4, and it was down by 2.7%. Again, as I said before, the project business revenue was affected by our selective approach and the postponed start of certain new projects from the order backlog. For the full year 2021, our revenue was EUR 2,139.5 million, down by 0.7%. The full year organic growth was -2%. The organic growth in service was positive with 1.4% and projects was negative by -7.7%, resulting in the total of -2%. In the graph you can see in 2021, our revenue increased in Sweden, Germany and Norway. We want to continue to grow and be relevant to our customers and have therefore continued to invest in our business platform and smart tech via M&A. Let's have a closer look at our recent acquisition to support our growth strategy. We have closed three bolt-ons acquisitions during the fourth quarter. The first one is the acquisition of the business of Bott Kälte- und Klimatechnik in Germany. Bott is a small cooling and air conditioning specialist with eight employees based in Wiesbaden, operating in the Frankfurt area. Through this acquisition, Caverion has strengthened its market position in smart technology. The second acquisition shown here is also a smaller acquisition, Rørlegger'n Innlandet in Gjøvik in Norway with seven employees with main competencies within piping, heating and sanitation. The third case is the acquisition of the industrial design and advisory business of the Finnish company Merius Oy. They provide surveying, design, consulting services for industrial investment by using 3D digitalization, virtual and visualization technologies. The annual revenue of this business is about EUR 1.4 million and 20 employees. Furthermore, we also announced in December that we signed an agreement to acquire the business of the Swedish company Frödéns Ventilation AB. The closing of the acquisition was done in January 2022, and this was a bolt-on acquisition for Caverion in the ventilation business in Sweden. Within the growing area of ventilation, Frödéns offer service and maintenance, inspection, energy optimization, and smaller projects, mainly in the Jönköping area. Frödéns have 12 employees and an annual revenue of EUR 3 million. As said, we continue to invest in additional capabilities and core competencies to fuel our ability to serve the customer and grow our business. Let's have a closer look at our ongoing strategy work. We are now moving into the final stages of the preparation of our new strategy. This new strategy, which will guide us through the next years, will be a continuation of many decisions we have taken in the past year. We will also be driven by focus and differentiation. As you know, we will host our Capital Markets Day on the 10th of May, where we will welcome all of you to learn more about our new strategy. One thing I want to talk about today is our main strategic themes, which will guide us and connect the previous strategy with the next strategy period. The themes are our people, our customer experience, digitalization, and sustainability. People are our most important asset. We want to retain, attract, and grow the right people and become the most attractive employer in our industry. Our building performance culture is a key element for the success of our new strategy. We are focusing on customer-centric operating model to deliver our promise of building performance in every interaction we have with our customer. The voice of our customers will continue to guide us in our strategy execution. Digitalization had been at the core of our solutions, and over the past years, we have developed it further, and it will remain of increasing importance regarding our portfolio, but also the way we work internally and the way we serve our customers to ensure they get transparency, they can measure, and the efficiency of their building environment. Finally, sustainability is gaining more and more traction, and as a core driver for our customer decision, it is and will be at the core of our work and offering development going forward. Furthermore, we have just recently initiated a application process to join the Science Based Targets initiative and reduce our emission in line with these targets and with the Paris Agreement goals. We are committed to Science Based Targets and to maximize our positive handprint. We want to continue to save the planet and bring our purpose to life. Let me give you a brief view of what we have done in this in 2021. Let's start with a brief overview of our EU Taxonomy reporting. It's the first year we are going to report on this. As a provider of technical service and projects for building infrastructure as well as industrial sites and processes, Caverion is part of the solution for a green low carbon transition. In 2021, 33% of our revenue was considered eligible with EU Taxonomy. Our capital expenditure and operating expenses resulting from our service and projects associated with economic activities considered eligible the EU Taxonomy accounted to 13.8% and 3.1%. Caverion business model is asset-light and does not require large-scale investment to cope with the EU Taxonomy. Most of Caverion investment are M&A and IT investment. With this eligibility levels, we demonstrate our strong position in the environment and the climate protection. In 2021, we have continued to work with our sustainability strategy. Our overall sustainability strategy is to create sustainable impact through our solution, with a positive carbon handprint of 10 times greater than our carbon footprint by 2030. As you remember, we have defined clear sustainability focus areas, targets, and KPIs for each of the key ESG areas. These sub-targets and individual KPI levels can be found on this slide. Let me close my presentation with an update on our progress in the sustainability target achievement and the actions we have done. We will continue to further define the calculation principle for our sustainability targets in the years to come. If you look closer to what have we achieved, in 2021, our actual level of our carbon footprint defined and measured was 80%, up from 66% in 2019. Our team has made a huge effort here, and we have also made progress with our Scope 3 calculation. In 2021, Caverion conducted a comprehensive study and estimation of its Scope 3 emissions for the first time. Caverion screened all Scope 3 emission categories and identified purchased goods and services, and the use of our sold products as the biggest emission source. We will report more on these numbers in our sustainability report and non-financial reporting due to be published in week nine. We also want all our offerings to have a defined carbon handprint, and here we also improved to have roughly 20% of our offering with this. We have set a target that we want to have 5 times carbon handprint over our footprint. Here we also improved a lot, so we doubled our ratio to 2 times. That's done since November 2020. We also have made progress in reducing our accident frequency rate, which decreased to a level of four in 2021. Our target is still two, and it's challenging, but it also demonstrates our commitment that safety at work is the key for us and in everything we do. We want to increase the awareness of sustainability, so therefore we want to train all our employees in sustainability, and we are still in the preparation phase for that. To get more diversity in our company, we have also focused on gender equality and empower women in our industry. Here we want to increase from 11% today to 15%, and we are sure that this can make a huge impact on Caverion. This is at the top of the agenda of the GMB addressing the issue every time and how we can get more females into our company. We have also looked at our supplier code of conduct, and it has also increased significantly to 66% as a result of our continued focus on this topic by our supply operation. We want in the future also to continuously work with the target of getting sustainability into our tenders. This was an update of our progress within the sustainability, what we have done with the taxonomy, which will also be a big part of our strategy going forward, and we will have more details about that also in our Capital Markets Day. That was the end of my presentation, and I'll hand over to you, Martti. Yes. Thank you, Jacob, and good morning also on my behalf. Before going to our profitability, let me also comment very shortly on the market development last year. In services, we experienced increased investment activity among several customer segments as of the second quarter of last year. As Jacob already highlighted through the customer cases, we have started to see a general increasing interest for services supporting sustainability, such as energy management and advisory services driven by regulation and the expected governmental and EU stimulus packages supporting investments in green growth. In projects, on the other hand, market demand started to pick up in the third quarter of last year, and the trend continued until the end of the year, which is of course also positive. Backed by this market development, one of the true highlights, as Jacob already mentioned, was that our order backlog reached a high level at the end of December, being 15.8% higher compared to a year earlier. Like Jacob already commented, what is notable here is that the order backlog was clearly higher both in services and projects compared to a year earlier. All this provides, of course, a solid foundation and a good starting point for Caverion towards this year. Let us then take a closer look at our profitability development last year. To start with overall, our profitability improvement continued throughout the year according to our plans. This was the case also in the fourth quarter of last year. Our fourth quarter adjusted EBITDA improved to EUR 30.1 million from EUR 22.5 million a year earlier. There's an improvement of about 34%, and adjusted EBITDA margin was 5.1% of revenue versus 3.9% a year earlier. In services, the performance continued overall on a strong level. In projects, our profitability improvement continued. Our fourth quarter EBITDA, on the other hand, was EUR 8.6 million or 1.5 percentage points of revenue. This was impacted by, in this quarter, a notable one-offs, including first to note that we divested at the end of the year our Russian operation. This resulted in a capital loss of EUR 10 million. It should, however, be noted that the largest part of the loss is explained by translation differences, which is a non-cash item and does not have any impact on equity. Also, overall, the transaction had only a limited cash flow effect. I also see the divestment reducing our risk exposure going forward. In addition, there was a settlement related to German civil claims. We booked an expense of EUR 6.4 million related to that settlement. Finally, we made a provision of EUR 2 million to a last remaining major risk project. What is important here is that the project is now handed over to the customer. However, final discussions between the parties are still ongoing. For the full year of last year, our EBITDA improved to EUR 87.7 million versus 60.6 a year earlier. This was a notable improvement in adjusted EBITDA of 44.6 percentage points year-on-year, and the adjusted EBITDA margin was 4.1 percentage points versus 2.8% a year earlier. I can say that we are overall very pleased with this profitability improvement, taking also into account that the market environment was still impacted by the corona pandemic. An important contributor to our profitability improvement in last year was that our cost structure was at a clearly lower level throughout the year, mostly throughout the year and throughout all the cost categories. What we said at the end of last year in the fourth quarter, we said that the cost savings will be at least EUR 25 million in 2021. That was clearly also coming through throughout the year. As for further highlights, particularly our division Sweden, Germany, Norway, Industry and Austria, they all progressed well last year. At the same time, our division Finland continued its very strong performance. In services, the performance continued overall on a strong level throughout the year, and in projects, as said, market demand started to pick up following the stabilization in the market seen at the end of the second quarter, and we continue to improve our project profitability. We have so far coped well also with the increase in material prices, which is affecting particularly the projects business. Now, looking forward into this year, we expect market development to be overall positive in services and to improve also in projects this year. We strongly believe in our purpose to enable building performance and people's well-being in smart and sustainable built environments. Finally, the digitalization and sustainability megatrends, they are in many ways favorable to Caverion and believed to increase demand for our offerings in the future. Let us then turn to our cash flow development. We again had a strong cash flow in the fourth quarter of last year, and our full year cash conversion came in at 91.2%. Our financial target level is higher than 100%, so on a last 12-month basis, we were very close to our target level. Like I said, our cash flow also rebounded strongly in the fourth quarter. Our operating cash flow was EUR 76.7 million in the fourth quarter. In that quarter, we had a positive change in working capital of EUR 40.1 million, while for the full year our operating cash flow before financial and tax item was EUR 103.8 million. For the full year, there was a negative change in working capital impacting our cash flow by EUR 21 million. In the comparison year, there was a positive working capital change of EUR 54 million. This impacted our cash flow last year, the negative change for the full year in the working capital. Our gross capital expenditure on non-current assets, including acquisition, that totaled EUR 26 million, representing 1.2% of revenue. Investments in IT totaled EUR 8 million and other investments, including acquisitions somewhat higher than last year, amounted to EUR 18 million. Like Jacob already mentioned, we closed three bolt-on acquisitions in the fourth quarter in divisions Germany, Norway and Industry. Going forward, we are actively looking for further acquisitions this year. Actually, we closed one bolt-on acquisition after the reporting period in Sweden, like we are also reporting. As we have stated many times, an important contributor to our cash flow generation has been that we've been able to decrease clearly the working capital in recent years. At the end of December last year, the group's working capital amounted to a negative EUR 144.7 million. Looking at the picture, we can see that there are typically quarterly swings in the level of working capital, and this was visible also last year. Looking at an overall picture, we have completed significant and successful actions since 2018 to improve the level of working capital, and we are happy with the current level of -7% of last 12 months revenue at the end of the fourth quarter. If we then take a look at working capital level by division, we have in several divisions continued the good efforts to improve the working capital levels. As we can see in this graph, at the end of the fourth quarter, there were improvements in working capital level in divisions Denmark, Austria and Industry compared to the previous year. A few words on financing. On this slide we saw our debt maturity structure at the end of last year and as a general statement to start with, overall our financing situation is very stable. In December of last year, we refinanced our bank loans and our revolving credit facility. This means our EUR 100 million revolver and the EUR 50 million term loan, they both now have a termination date on the 15th of January 2025. Also to highlight the agreement is with two one-year extension options. If you utilize the options, the maturity will flow forward into 2025. With this arrangement, we prolonged of course our maturity structures and strengthened our long-term liquidity. Our EUR 75 million senior unsecured four-year bond matures in March 2023, and our EUR 35 million hybrid bond has the first call date in May 2023. As we know, a hybrid bond is treated as equity in the IFRS financial statements. That's a well-known fact. Our net debt, including lease liabilities, amounted to EUR 140.7 million at year-end. Excluding lease liabilities, that is the IFRS 16 operating lease liabilities, only EUR 5 million. This slide then summarizes our financial position at the end of December. Overall, our liquidity position is strong, and our leverage is at a low level. Our financial covenant is based on the ratio of the group's net debt to EBITDA, and it shall not exceed the level of 3.5 times. Our net debt to EBITDA ratio was 1.1 times at the end of the fourth quarter. The new confirmed calculation principles after signing the new banking agreement now include the effects of the IFRS 16 standard, which contain also certain other adjustments. In the corresponding figure that you see in the upper left corner here for last year and all. In all the previous quarters, except for the fourth quarter shown in the upper graph, the impact of the IFRS 16 standard was still excluded. In a way, the measures for the net debt to EBITDA are not fully comparable to each other with the fourth quarter and the previous ones. Our cash and cash equivalents, on the other hand, were EUR 131 million at the end of December, so we had very high cash at hand. Let me summarize that our strong liquidity position and our low leverage level, they will give us firepower for future M&A. Like I stated earlier, we continue to actively search for suitable acquisitions also this year. Overall, the performance progress we saw last year, the anticipated market developments, and the high level of our order backlog at the end of last year, combined, they of course all provide us a solid foundation to step into this year. I will close here and hand it back to Jacob, who will now continue to summarize our guidance for this year. Thank you very much, Martti. I will close by looking at our guidance for 2022. As you see on this page, what we are guiding you in 2022 is our revenue and our adjusted EBIT will grow compared to 2021. The board of directors is also proposing to the annual general meeting to be held on the twenty-eighth of March that a dividend of 0.17 EUR per share will be paid. That was the final page of our presentation. We have also this morning sent out a stock exchange release about the change in our group management board. The reason for the change in the Group Management Board is that we will ensure that we are even more customer-focused and that we act according to a clarified operating model, and that's the reason why we have made the changes this morning. Kari Sundbäck will take responsibility for service business, smart technologies, advisory, engineering, and digital solution, as well as for the strategy and operations development. We have also appointed two new person. Firstly, we have appointed Reinhard Poglitsch as Head of Commercial, responsible for international customers and commercial development as of the fourteenth of March this year. Reinhard will join Caverion after a long career in ISS. His most recent position was as commercial director for Europe during 2019 to 2021. As you know, Martti will join another company as CFO, and therefore he will leave us by the end of March, and he will join one of Finland's largest companies. Congratulations to you, Martti. I want to thank Martti for his contribution to Caverion over the years, and I wish him all the best and a lot of success in his new job as CFO of Neste. To fulfill the position when Martti is leaving, we have on an interim basis appointed Riitta, as you can see here. Riitta has held a CFO position in Uponor and other companies, and she also have some board position. She will cover up for Martti until we have found the permanent CFO. This will end our presentation of today. Thank you. Ladies and gentlemen, if you have a question for the speakers, please press zero one on your telephone keypad. Our first question is from Svante Krokfors of Nordea. Please go ahead. Good morning. Svante Krokfors from Nordea. Thank you, Jacob and Martti, for the presentation. First question is about your order backlog, which has grown really nicely and yet you say that you have been much more selective in taking on new orders. Could you elaborate a bit on that? Thank you for the question. Yes, it's like I said in Q3, we have implemented quite a rigid tender audit procedures. We have also decided that when we go for projects, then we want to be sure that there is a balance between the risk and the reward we take. Therefore, we have very solid procedures in the company to ensure that the project business we are dealing with is something we can cope with. Of course, due to the corona, due to inflation, due to material price increases and also the supply chain, we are of course a little bit more cautious in ensuring that we can also deliver what we promise to the customers. Basically nothing new compared to Q3. It's just continuing our really diligent process within projects. However, we are of course very pleased that our order backlog has increased with 18%, and also a very high increase in our service business with 14.1%. We will continue our growth within the projects, but as we also said in Q3, there's often a little bit time like before the order backlog comes into play and when it gets started and when we can see the results in our P&L. Thank you. A continuation on that. You said that around 50-50 is the split when order backlog will be realized in 2022 and after that. What kind of differences are there divisionally on the timing of order backlog coming into sales? Yeah. What I said is that in 2020, the split was approximately 50-50, and that's probably also a good proxy. We haven't announced the exact numbers, and that will be in week nine. We are not giving any information about the timing in the difference between the order backlog in service and in projects. There are variations, but we don't give any information about that. Okay, thanks. You are now basically at the two-thirds of sales coming from Services and one-third from Projects. Is that a level that you are going to be satisfied with going forward also? At least looking at the order backlog, that appears to be the case. What we have in our strategy is that we would like to have a key target of having two-thirds within Services and one-third in Projects, and that's what we are aiming for. That's our strategic priority right now. When we will update our strategy at the Capital Markets Day on the 10th of May, we don't expect any big revolution. I don't see any reason why we should change the split of two-thirds on the Services and one-third on Projects. Thank you. Regarding your strategic focus areas, you put people on top. What's the labor situation now? Is it difficult to get and keep talented people? What's the wage inflation looking like in the different countries? I think, if you look at our ability to attract people, I would say we are in the same position that we have been in many years. We have quite loyal people. We also have internal employee surveys showing a very high level of satisfaction of being in Caverion, which we are of course very pleased about. I think Caverion is in the same place as a lot of other companies operating in the markets we operate. There's a shortage in getting qualified people, and that's the reason why we have a lot of internal initiatives to educate people, to grow people in our company. If we continue to have the aim to create a great place to work, then we are quite sure we will be able to also hire and retain the people and develop the people we have in the company. Of course, like all other companies, it's a daily fight to get the best people and also ensure that we can deliver to our customers. We are quite confident, and also our survey shows that we have a high internal satisfaction. Thank you. Perhaps last one on M&A. Have you seen any changes in that landscape when it comes to pricing or potential targets? I would not say we have seen any change during the last half year. However, there's a lot of liquidity in the market. As you also see in Northern Europe but also in the Nordic countries, there's a consolidation from some competitors, also from private equity. There's a huge activity in the market. We believe that we can give a very good home for the acquisitions that we buy and integrate, and that's also the feedback we get from the people that joins Caverion, that we are a professional, capable organization that also can take care of the employees we take over. We think that's a competitive advantage in the market. Of course, then we also try to search for the companies that would fit our business platform, add something to our capabilities and competencies. Okay. Thank you. Thank you, Jacob, and wish you success with your new assignment. Thank you. Thank you. Welcome. Thank you. Just as a reminder, if you wish to ask a question, that's zero one on your telephone keypad. There'll be a brief pause while any questions are being registered. There are no further questions at this time, so I'll hand back over to our speakers. Thank you. We will continue with the questions from the webcast. First one is coming from Markku Moilanen, analyst at OP. When can we expect to see organic revenue growth in projects? First of all, we have not guided anything about organic growth in neither service or projects, so that's not a question we for now can answer. We are focused on growing our turnover compared to 2021, as we said in our guidance. Exactly. We have a full year guidance for this year for revenue growth. We've been used to service growth in recent years, but of course it's of note that the order backlog in project is 18% higher than the previous year in project side. The guidance is of course for the full group figures revenue. Thank you. Continuing with questions from Markku. What was behind large revenue decrease in Denmark, and was there some larger projects in other countries as it reported nearly 19% revenue growth? Can you say the last thing? The last one? Yeah. Was there some larger projects in other countries as it reported nearly 19% revenue growth? Yes. The first thing is that we decided a while back that we would limit the number of project business in Denmark and focus more on the service side of business, and that's the reason why our turnover has dropped in Denmark. We have a very strong service organization in Denmark and a lot of segments that we are focusing on and also winning in managed service contracts. We are pretty confident with the management team we have in Denmark that we will start to grow again. Then, of course, there has been a lot of the divisions that have had growth within the project business, so what we are showing is the combined numbers of our project business in the divisions and the same for service. I don't know if you have something to add. Maybe to add, for other countries, it's true that there was growth of 18.6% in the fourth quarter, there were some larger projects ending up in the Baltic countries. For the full year, I would rather look at that revenue than our revenue was down actually by 15.5% for these other countries. Nothing. Normal quarterly swings. Good. The last question from Markku Moilanen. How would you describe the overall risk level in current portfolio? Are there still some weak margin legacy projects left in the portfolio, and when will these be finished? First of all, we don't talk about specific projects in our release. Our business is in the project business and in the service business, and in the project business, there will always be risk. Therefore, we will always have a project that is not going like we were projecting. Our job is to ensure that we balance the risk and reward and minimize larger projects that is not performing as we expect. Our risk is basically the same. However, we also believe that we have closed some of the big projects we have had for many years, and that we have also said in our release that we have handed over a big contract, a big project to the customer. It's not finalized, and there's still discussions going on. In that project, of course, we see that it's a good sign that we have handed it over to the customer. I don't know if you have something to add, Martti. No, I think that sort of summarizes. This last major risk project that Jacob is talking about is we were able to finalize as we had expected by the end of this year. Like I said, it's been handed over, so if I look past now backwards to the past years, I think there is a good starting point for this year. Thank you. Then we move on to a question from Olli Koponen at Inderes. How much did market related uncertainties, cost pressures, a lack of resources, corona affect your revenue and profitability? Will you say it or shall I? Okay. We haven't said that precisely. I think we gave an estimate. When this whole corona pandemic started in the second quarter of 2020. After that, we have not commented on the quarterly impacts. Like last year, there were some quarterly swings, like in the third quarter, our revenue was down. The third quarter of 2020, there was some pent-up demand, et cetera. Overall, the impact is still somewhat negative, and it's mainly coming from the fact that, like now we have a little bit of the Omicron variant, so it a little bit impacts. There are higher sickness rate, a little bit more of our people are not able to attend, so it a little bit has an impact on our production. Generally, nothing is closed. All the sites are open, we are able to access. On a good note, of course, is that it looks like now that all these corona-related closures, they will be removed. Like in Denmark, they opened up now in the beginning of February. Good. A follow-on question, order book growth was very good, but revenue is still lagging a bit, so can you explain this? Has there been any delays, or what explains this? Yeah, as we said before, we can say it's always a timing issue when will the order backlog come into play. If we use the proxy of last year's split of 50-50 of the order backlog, then of course we have some existing contracts, but we of course also need to sell a lot of ad hoc service, et cetera. When we see the uncertainties right now with the corona, as Martti just alluded to, sickness, high infection rates, it's of course impacting the business that a lot of people is isolated. Not a lot of people get really sick, but because of the restrictions, they have to be at home. We cross our fingers that the environment, the business environment will have more certainty, and then we are also quite sure, and that's the reason why we guide that our turnover will be higher than last year. I'd like to add, there was early on also a question on the order backlog. Why we are highlighting that quite a bit that if you look backwards, in 2020, our order backlog was still down by 3.7%. In the first quarter of last year, it was still down by 8% year-on-year. Then it started to improve. In the second quarter, it was up by 2.8%, and well up in the third quarter, now 15.8% year-on-year at the end of the year. There is hopefully a clear trend anyway visible, and we have a positive guidance on the revenue for this year. Thank you. Moving on to a question from Jussi Koskinen. It's a question related to the four strategic themes. You have mentioned people, customer experience, digitalization, and sustainability. Those things are present for all businesses nowadays, and he has a feeling that by stating those, we are not really choosing anything. Will there be any further decisions or directions included to the strategy? What we presented today was the main themes. With more than 14,000 people, it's obvious that people is the core of our company. To ensure that we are relevant in the market, customer focus is of course very important. As we are in a technical area and in renovation, energy, et cetera, it is just important that we also listen to the voice of the customer, and that's what we have done, and that's what we are doing right now to finalize our strategy. In general, the real estate market, the built environment is a little bit old-fashioned, and the way the market is moving in general is that digitalization, more transparency, and measurement of buildings. It also comes from the EU, because if you look at the climate targets, there's climate targets to get the CO2 emission down with 55%, measuring back to 1990, and that means that there will be more building automation systems. There will be more measurement of are we actually doing as we are saying, both as our customers, as a company, and in general. There is the very strong push and pull from the end users. Everybody want to work in a green building. Everybody want to live green. Everyone want to impact our society, so we also have a planet to live in, for the next future. Sustainability is the top of our agenda when we provide a HVAC where we can change it from F-gases to CO2 gases. You can say it is just on top of the agenda. We believe these four things together makes a really good foundation for Caverion also be relevant for our customers in the future. We will continue to focus on our employees. We want to have more employees. We want to have a great place to work. Customer experience, that's the way we can increase our turnover, that they want more service, more projects from us. Then they also want to see that what we promise them is also something we can measure. Sustainability, yes, everybody talks about it, but there's regulations from EU. There's all the targets that you today have to report on, and Martti and the team has done a stellar job in this to really nail down all the details of that. This is just the four priorities right now, and we will of course show much more on the 10th of May, in the Capital Markets Day of our tangible action in these areas. Okay, thank you. We have no more questions online, so this will conclude our webcast for today. Thank you all for your participation. Thank you. Thank you.