Good morning, everyone, and a warm welcome to Oriola's Q2 results webcast. I am Tua Stenius-Örnhjelm from Oriola's Investor Relations. With me today, I have our CEO, Katarina Gabrielson, and CFO, Timo Leinonen. Morning. After the presentation, we open up for your questions, and you can start posting them to us already during the presentation. As a kind reminder, in the Q&A, we will focus on questions relating to Oriola's business and financial development. We can and will answer questions on Kronans Apotek, but only within a limited scope. Finally, please note that we are also recording this webcast, and the recording will be available on our website later today. Before handing over to Katarina, here is the customary disclaimer that we all should be aware of. Now, without further ado, Katarina, please go ahead. Thank you, Tua. Good morning, and welcome also on my behalf. We'll start today with quarter two highlights and a couple of comments on the operating environment and market. Then I'll end my part with a review of the segments. After this, Timo will take you through the financials before we continue with the question and answers. In quarter two, we saw good top-line growth, with net sales growing by 13% to EUR 440 million. This was driven by both distribution and wholesale segments. Also, profitability improved in quarter two. Adjusted EBIT improved by 53% to EUR 5.1 million, while the adjusted EBIT, excluding Swedish dose dispensing business, was EUR 4.9 million. The improvement in profitability was supported by net sales growth, lower operating expenses, and freight costs. We are implementing and rolling out our refined strategy, which was launched at the end of last year. The ERP and warehouse management investment that was kicked off in January has progressed according to plan. At the moment, we are reaching the end of the design phase, which will allow us to move into the build phase during the second half of this year. Something that I have personally also focused quite a lot on during this quarter is to engage with our employees and talk about the strategy and what it means in different parts of the organization. These discussions have been fruitful and are, in my opinion, extremely important for creating alignment and commitment to our long-term goals. That is something that we will continue to do. And then finally, a couple of comments on the joint venture company, Kronans Apotek. In quarter two, e-commerce continued to grow steadily, while the brick-and-mortar is stabilizing. Kronans Apotek got a new CEO in April and a CFO in May, and they have put in new measures to improve the performance. At the end of April, we came out with the news that the Swedish Competition Authority prohibits the sales of Svensk Dos AB to Apotekstjänst Sverige AB due to negative effects on the competition in the market. We still think the agreement with Apotekstjänst Sverige AB makes sense and is the most viable option for Oriola, because we have not seen any changes in the market structure and dynamics. We believe that the decisions taken by the authorities was not justified and that it was based on weak argumentation. This is why we, together with Apotekstjänst Sverige AB, have appealed the decision. The appeal process can take up to six months, so there will not be news about other alternatives before we have a clear ruling on this, and that will be sometime in early quarter four. If we then have a look at overall operating environment, we can see that the situation has clearly stabilized from a year back. Consumer confidence has slightly improved, cost inflation has slowed down, and we can see that energy and fuel prices have stabilized. In the pharmaceutical market environment, there are continuing availability issues across the whole Europe. We can also see that the demand for high-value pharmaceuticals is at a good level, and this is boosting the value growth in the pharmaceuticals market. On the other hand, the volumes, especially in the Finnish market, have declined, while in Sweden, the volume was still growing at a low single-digit level. As said, the pharmaceutical distribution market's value has continued on a good, solid growth in quarter two, which growth at 7% in Sweden and 4% in Finland. In the Finnish market, our market share in quarter two was stable year-on-year at 45%, and in Sweden, we saw a slight decline from 44%-45% to 43%. In the Finnish dose dispensing business, our market share increased by two percentage points to 30%. On this page, you can also see the data from the consumer health market. This is annual data, and we'll comment it only on annual basis. But as you can see, the historical growth has been at 3%, and the market is valued at around EUR 1.5 billion. Let's then turn and look at how we performed in quarter two. I'll start with the distribution segment, which consists of pharmaceutical logistics and dose dispensing services. In quarter two, net sales grew by 16% to EUR 358 million. This was largely driven by the steady market value growth in Sweden and Finland. Profitability improved to 30%, which Adjusted EBIT increasing to EUR 4.4 million. Profitability improvement was supported by net sales growth and a lower cost base, which has offset the negative impact due to lower volumes in the move, and the move of clinical trials under the management of advisory services in wholesale segment. Freight costs were lower, thanks to operational improvement and lower fuel prices, and operating expenses were lower due to cost reduction in the Swedish dose dispensing business. When we exclude Swedish dose business, adjusted EBIT was EUR 3.8 million, slightly below last year, due to the decline in volume and the move of clinical trials. In the distribution business, we will continue to build on the good development we saw last year. In quarter two, we have been successfully in renewing distribution agreements and implementing price increases, which will have a positive impact in the second half. Then, when we're looking at the wholesale segment, the wholesale segment consists of wholesale, of traded goods, and over-the-counter or OTC products, parallel import and specialized medicines, as well as advisory services. In quarter two, net sales in this segment grew by 3% to EUR 82 million, supported by a wider product portfolio in Sweden and growth in all customer segments. Profitability improved to EUR 2.3 million. This is mainly related to the move of clinical trials, which I mentioned earlier. Growing the wholesale business is one of our long-term strategic goals. During the start of this year, our focus has been on building our offering and capabilities. For example, we want to grow in the growing e-com channel in Sweden, and this has required us to develop certain capabilities in the warehouse in Sweden. This concludes my part, so over to you, Timo, for the financials. Thank you, Katarina, and good morning from me as well. Let's first recap how we have performed in comparison in previous years. We can see good growth on top line. Invoicing grew by 5% to EUR 952 million, and net sales grew by 13% to EUR 439 million. So solid growth, which we can be pleased about. Adjusted EBIT increased from EUR 3.4 million to EUR 5.1 million, an increase of 53%. And when we exclude the Swedish dose dispensing business, we see that the adjusted EBIT increased by 18% to EUR 4.9 million. Let's then look at the net sales and EBIT bridges. On the net sales, the growth is largely driven by distribution segment, where growth was EUR 49 million. In wholesale segment, net sales grew by EUR 2.3 million. Group items on net sales were not significant, while the Swedish dose business contributed positively on net sales by roughly EUR three million. This gives a total of EUR 439 million in net sales. On the EBIT side, the chart shows that the development excluding Swedish dose, where the EBIT in Q2 increases to EUR 4.9 million. In distribution segment, EBIT, excluding Swedish dose, declined slightly, while wholesale saw some improvement. The decline in distribution is due to the decline in volumes and the move of the clinical trials under the management of advisory services in wholesale segment. This explains the positive development in wholesale segments as well. To summarize, in Q2, EBIT, excluding Swedish dose, was at 4.9 million, and with the small positive contribution from Swedish dose, reported adjusted EBIT comes to EUR 5.1 million, compared to EUR 3.4 million in Q2 last year. Overall, profitability improvement was supported by the net sales growth, lower operating expenses, and freight costs. Then, moving on to the profit for the period. In Q2, profit for the period was EUR two million and earnings per share EUR 0.01. We had adjusted items of EUR 0.5 million positive in Q2. These were related to the dose dispensing business and to the ERP implementation costs, which in Q2 amounted to EUR 0.6 million. In the dose dispensing business, we received a compensation of EUR 1.4 million from the court appeal on the tender process, and we had cost of EUR 0.2 million relating to the sale of dose dispensing business in Sweden. In Q2, we recognized a loss of EUR 1.3 million from Kronans Apotek, compared to the profit of EUR 0.2 million, Q2 last year. On the net financial expenses, we can see the positive impact of lower debt levels, as the net financial expenses decreased to EUR 1.6 million versus EUR 1.9 million last year. So, an improvement in profit for the period compared to the Q2 last year. Then, looking at the cash flow. Net cash flow from operating activities at Q2 was EUR 17.8 million. Of this, changes in the net working capital accounted for EUR 11.5 million. It is, as said before as well, very typical for our industry that working capital fluctuates strongly from quarter to quarter. In Q2, increase in trade payables have impacted working capital positively. When we look at the changes in the cash flow from the year end, net cash flow from operating activities was EUR 6.5 million, from investing activities -EUR 1.5 million, and from financing activities -EUR 57.2 million. The change in financing activities cash flow reflects repayments of debt and includes dividend payment of EUR 12.7 million. All in all, the cash position is strong, with the cash and cash equivalents of, at EUR 86 million at the end of the period. Like you saw in the cash flow, we lowered our debt level significantly compared to previous year. In Q2, we have repaid our term loans of SEK 290 million and issued less commercial papers, and the amount of lease liabilities has also decreased year-on-year. Following this, our interest bearing debt was down EUR 63 million from Q2 last year at the end of the period. Our interest bearing debt amounted to EUR 74 million, compared to EUR 137 million at the end of the Q2 last year. Cash and cash equivalents amounted to EUR 86 million. This gives us a negative net debt position and gearing of -8.1%. The amount of sold trade receivables at the end of the period was EUR 55 million, which is lower than in previous year due to the timing effect, and this, of course, also affects in our cash position. To summarize, I want to say that we continue to have a strong financial position with a good cash flow and gearing on the negative side. Equity ratio has declined from 21.2 to 17.2, but is stable compared to the previous quarters. Then we move on shortly to comment Kronans Apotek. In Kronans Apotek, e-commerce has continued a steady growth, while the brick-and-mortar is stabilizing. As Katarina mentioned, Kronan has both new CEO and CFO, who have already implemented new measurements to improve the business. In Q2, adjusted EBIT declined from EUR 2.3 million to EUR 0.3 million. Although the result, result is not still satisfactory, we see that there is a significant improvement from Q1. In Q2, realized synergies from Kronans Apotek was EUR 0.9 million, and one-off costs relating to the integrations amounted to EUR 1.9 million. For Q2, we have recognized a loss of EUR 1.3 million in our balance sheet from Kronans. Just to notify that Kronans Apotek still remains an important strategic partner for Oriola, and we will actively support Kronans Apotek's value creation as a major shareholder. Kronans Apotek expects its full profit potential to materialize by the end of 2025. Our guidance or outlook for 2024 remains unchanged. We expect the adjusted EBIT, excluding the dose dispensing business in Sweden, for the year 2024 to increase from the adjusted EBIT for 2023, which was EUR 19.5 million. As key assumptions, we expect the pharmaceutical distribution market to continue to grow. However, the continuation of the weak consumer confidence might impact the wholesale market development. Also, the inflationary environment and related cost pressure may impact profitability. With this, I'm ready to hand over back to Katarina. Thanks. Thank you, Timo. Before we will take your questions, I want to summarize with three key takeaways that you also see on this picture. The net sales grew year on year with positive development in both segments, and I'm really, really pleased about that. When looking at the profitability of the underlying business, we can see a solid improvement from previous year. And last but not least, we have a solid financial position and have strengthened the balance sheet by decreasing our interest-bearing debt significantly. With this, let's see if there has come some questions. Great. Thank you both, Katarina and Timo, for the presentation. So let's have the questions, and just to remind everyone that you can pose the questions to us through the chat in the webcast. So we have a question about distribution segment. Net sales in distribution segment grew by over 15%, and this was commented as driven by value growth in the market, both Sweden and Finland. However, market growths are presented as 7% and 3.8%. Oriola's market share is not growing. What is behind Oriola's outperforming the market? Have there been any changes within product portfolio comparing to last year? You and me? Yeah, yeah. I can start. Yeah, so basically thinking, market in general, so there is kind of differences always that which kind of medicines are sold more and less, and so it seems that the portfolio what we are currently having is kind of a little bit kind of has been performing stronger during the Q2. But at the end of the day, so there is no big changes in the market in that sense, but it fluctuates a little bit from quarter to quarter. Okay, good. And then we have a question about the ERP costs. Mm. Why do you now treat ERP costs as adjusting items? Timo, please go ahead. Yeah, just to give clarity to our reporting and information what we are giving to the market, because if having those costs, which are actually giving positive benefits only after several years, so it's very hard to tell so how our underlying business is developing if we are having those costs, yeah, embedded to everything. And basically, that's why we decided that we want to have them or report them separately. All right. So then a question relating to Svensk Dos. So, according to latest news and court decision, you don't have the right to appeal. Would you like to comment this, Katarina? I can comment. No, we don't have the right to appeal, but of course, we are behind Apotekstjänst's obvious appeal, and we are fully supporting that. Like I said, also in the presentation, we, we think that this is not a justified decision that was done by the Konkurrensverket, and we really think that there is strong argumentation in this appeal. And that also means, of course, that we will then not comment more on what we will do if this deal is not going through until this- Mm ... verdict has then been done. Okay, we continue on Svensk dos. Mm. Maybe this is more for Timo to comment. So what kind of earnings should we expect from Svensk dos in second half? Some losses or around breakeven, like Q2? Well, that is one thing that we are not going to comment, because at the end of the day, we are commenting only the profitability of the kind of whole group, and it's one part of the group, but unfortunately, no comments on that one. Mm. I think, I think we can say it like this, Timo- Mm ... if you think like this, we are supporting the business, and of course, we are, like, having the same volumes. Mm. So that we can comment. Yeah, yeah. Of course, yeah. We don't see any changes in like- Yeah ... customers and so on. Yeah. Mm. Okay, good. So then, what were the main reasons behind your low cash flow in Q2? Mainly kind of repayment of the loans, and that has been intentional, like I also in the previous quarters have told that basically we want to get... Especially now, when the interest rates are high, so our kind of interest-bearing debt position down, and I think that we have succeeded quite well on that one. All right. So we have a couple of more questions, but just to remind everyone that please send them through your... through the chat so that we can take them still today. But the next question is about the increase in number of personnel. So the increase was quite high during Q2, so why is that, and is there a risk of increase in OpEx? I can take that one. Yeah. You can say that what we do now is also looking at the wholesale segment, and during the first half, we have strengthened the wholesale segment, and that's part of the strategy work. And that we can see then in a slight decrease in the number of personnel. We are not expecting that this increase will continue in this aspect, because most of the parts that we need to do has now been done, at least as we can foresee at this point. All right, and then the last question: So why didn't the good sales growth show in your profitability, Timo, please? Well, there is kind of two part, as it was stated also in the our release. So value of the sale is one thing, so basically... And there is the inflation and price increases and so on, and volumes are another one. So we have two different kind of agreements. They are transaction-based and basically value based. And when having kind of transactional-based agreements, so it's not fully come to the profitability and sales margin. But of course, when we again see that basically volumes are starting to increase, so that is affecting positively also to our profitability. All right, so thank you. There are no more questions on the chat, so let's thank everyone for joining us today, and remind that our next webcast will take place on 30th of October, when we publish the Q3 report. And until then, if you have any questions, please don't hesitate to reach out to us. And I would like to wish everyone a really good summer. Thank you. Thank you. Thank you!