Good morning everyone? Welcome to the De La Rue plc full-year results presentation for the period ending 27 March 2021. Thank you for joining us early today. The results were announced this morning and are available on our website, www.delarue.com. I'm Matthew Rose, Director of Tax, Treasury and Investor Relations, and our Chief Executive Officer, Clive Vacher, and Chief Financial Officer, Rob Harding, will present an update on the turnaround plan and the full-year figures to you shortly. After the presentation, there'll be an opportunity for questions. If you wish to do so, please submit these through the message system via the website. Importantly, before we start, I'd like to draw your attention to the forward-looking statements within the results announcement and on slide two of the presentation. I'd now like to pass over to Clive. Thank you, Matthew. Good morning, everyone, and welcome to De La Rue's full-year results for the financial year 2020 to 2021. I am Clive Vacher, Chief Executive Officer. I would like to give an overview of our operational performance for the year and the progress on our turnaround plan. Then I will hand over to Rob Harding, our Chief Financial Officer, to give you more detail on the financial performance. We have demonstrated good performance in the year. Our adjusted operating profit was GBP 38.1 million, a 60.8% increase from the prior year, demonstrating significant year-on-year growth. While we saw strong adjusted profit growth, our IFRS profit was down. This mainly reflects significant exceptional item charges, a large part of which is related to the closure of the Gateshead facility. Our balance sheet is in a much healthier position with net debt of GBP 52.3 million at year-end, down from GBP 102.8 million at the end of the prior year. This was mainly due to the GBP 100 million gross equity capital raise, which we completed in July, and which secured our ability to deliver the turnaround plan. The net debt is lower than our expectations. This is due in part to timing of capital spend. Rob will cover this and the exceptionals impacting our IFRS reporting in more detail. The substantial cost-out program within the turnaround plan, designed to yield GBP 36 million in annualized savings, is now fully delivered, with the last major project in the plan, the closure of banknote printing in Gateshead, completed in December last year. As expected, this initiative delivered a contribution of GBP 23 million in financial year 2020-2021. Starting from the current year, 2021-2022, the full GBP 36 million will be realized. Overall, financial year 2020-2021 was a good year for both authentication and currency, with both divisions showing a stronger second-half performance. In authentication, we increased our expected multiyear lifetime contract wins to GBP 195 million from the start of the FY 2020-2021 financial year to date. In currency, our banknote printing capacity was full for the second half of the year. Very importantly, I'm pleased to announce that the division moved from Adjusted Operating Loss last year to solid profit this year as we had committed to do. We are making good progress in polymer with the market developing in line with our expectations. We continue to demonstrate good growth in this area and have secured a Bank of England contract for new notes starting in July 2021, along with several new customers who are transitioning to polymer. Trading has also been positive for the first two months of this financial year, and we're off to a good start in FY 2021-2022. Looking at the full year results in more detail. We had adjusted currency revenue of GBP 286.8 million, slightly up on last year, with the market stabilizing and our position in the market enhanced. Authentication revenue was GBP 77.6 million. This is 5.1% higher than the same period last year, confirming the year-on-year growth committed at the interim results in November. Revenue was somewhat impacted by approximately GBP 1.6 million of revenue previously reported in authentication, which was included in the International Identity Solutions sale. Without this headwind, revenue would have been up 7.5%. Authentication showed much stronger revenue in the second half of the year as our contracts in Ghana and with HMRC gained traction. Last year, in October, we sold the International Identity Solutions business, and in the first half of financial year 2020-2021, we substantially finished the U.K. passport program. Most of the revenue and profit from the passport contract landed in the first half, which will impact first half on first half comparisons for this financial year, FY 2021-2022. Of the GBP 15.3 million adjusted operating profit in H1 2020/2021, GBP 8.9 million came from Identity Solutions, which was almost all U.K. passports. Over the course of financial year 2021 to 2022, we expect to show significant full year-on-year adjusted operating profit growth. For this reason, the H1 to H1 comparisons may be dampened. Given the finishing of the passport contract, the Identity Solutions business will show very limited revenue going forward. Therefore, at this point, De La Rue is a company with two divisions. Adjusted operating profit was GBP 38.1 million, which is significant year-on-year growth and which reflects good progress on the turnaround plan. Rob will go through the details shortly. When we focus on our ongoing divisions, our substantial progress becomes clearer. Authentication and currency together delivered GBP 27.5 million adjusted operating profit in FY 2020 to 2021. This compares with a GBP 1.4 million profit a year earlier in FY 2019 to 2020. This significant growth more than offsets the loss of profits from the U.K. passport contract and demonstrates that we have truly moved on from it. As I noted earlier, net debt stood at GBP 52.3 million at the end of the financial year, and we are confident of keeping year-end net debt within the levels designed into our turnaround plan. Overall, our turnaround plan is on track. We have significantly reduced our cost base and become much more competitive with new business opportunities. We have been able to successfully bid for currency contracts that in the past we would have shied away from, and we have secured a very solid set of contract wins in authentication. We remain consistent and resolute with executing the elements of the plan, with considerable work still to do as we demonstrate further growth in our core businesses this coming year. Looking now at our divisional performance in more detail. In currency, we saw the market continuing to be strong with our position in it and our competitiveness significantly enhanced. During the pandemic, demand for cash has remained positive and orders for the coming year remain robust. In H1, our revenue was flat compared to the same period last year, while in H2, print capacity was full and showed a better mix of work with higher revenue and profitability as our new cost base increased our competitiveness and allowed us to win substantial new orders. Our operations showed enhanced performance as the year progressed, with manufacturing efficiencies progressively being realized. In relation to our polymer growth plans, we have secured a new contract for polymer substrates for the GBP 5, GBP 10, and GBP 50 notes from the Bank of England, which for the first time secured our SAFEGUARD substrate on all Bank of England banknote denominations. For the first time, De La Rue secured a majority share award of polymer substrate from the bank against our competitor. In addition, we are responsible for the design and manufacture of the new polymer GBP 50 note due for release in June of this year, completing the full series of De La Rue designed and manufactured polymer notes for the Bank of England. The outlook for polymer conversion worldwide continues to be in line with the expectations we articulated at the time of the equity capital raise. We feel very comfortable with our decision to more than double polymer manufacturing capacity. In January 2021, we secured a new building adjacent to our Westhoughton facility, and we expect production on the new line to start around the end of this calendar year. We continue to develop our new ranges of paper security threads and stripes, and we now have a very strong portfolio across the spectrum at various price and complexity points. While we are at the forefront of the conversion of banknotes worldwide to polymer, we remain fully committed to leading, supporting, and innovating in paper banknotes. In authentication, as I outlined earlier, we have signed GBP 195 million of expected multi-year lifetime contracts. A couple of weeks ago we announced that we had won a two Tier 1 tax stamp contracts. Today I can confirm that they are with Qatar and Bahrain. We now have tax stamp contracts with four of the Gulf Cooperation Council countries, Saudi Arabia, UAE, Qatar, and Bahrain. These GRS wins are in addition to Ghana, which we won in the first half of the financial year. Also in the first half, we won the contract to provide the polycarbonate data page for the new Australian passport. Turning to brand. We have expanded our brand contracts with Tier 1 wins in the technology and healthcare sectors. Earlier this month, we were delighted to announce that Microsoft has extended its contract with us by five years out to 2026. At the same time of securing these wins, we continue to see a good pipeline of future opportunities. The new contracts, such as Ghana and U.K. HMRC, started to deliver increasing revenue during the second half of the year. Authentication delivered strong growth in the second half. This offsets some weakness during the year in two contracts due to COVID-19, which we expect to recover in line with the recovery from the pandemic as a whole. Lastly, with Identity Solutions, while it has delivered good profitability in financial year 2020 to 2021, mainly in the first half, going forward, it will deliver limited revenue and profitability following the sale of the International Identity Solutions business and the runoff of the U.K. passport contract. Moving on to progress on the turnaround plan. As a reminder, the turnaround plan covers a three-year period out to financial year 2022 to 2023 and consists of three main elements. Number one, a substantial cost-out program. Number two, making banknote print profitable and investing in higher margin growth areas in currency. Number three, continuing the growth of the authentication business, fueled mainly by growth in government tax stamp schemes, but with additional growth in brand. We have been very pleased with the progress of our GBP 36 million cost-out program. The annualized savings from financial year 2021, 2022 onwards of GBP 36 million have been secured. The program benefited this year to the tune of an additional GBP 23 million in-year contribution. These savings alone more than covered the contribution from the lost passport contract. The final element of the cost-out program, the cessation of banknote printing activities in Gateshead, was completed in December. The cost-out element of the turnaround plan cost GBP 10.1 million in financial year 2020/21, which is in line with expectations. It is to be noted that we consider cost reduction and efficiency improvements going forward as a continuous improvement activity. While we have taken cost out in line with the turnaround plan, we understand that we continually need to become more efficient, and we are working hard to embed this in the culture of De La Rue. In currency, we delivered on the first task to make banknote printing, and therefore the whole of currency, profitable in financial year 2020/2021, compared to the substantial losses experienced in the previous financial year. We will be installing the equipment related to our new world-leading paper security features in the summer of this year. This will give us significantly more capacity to produce our latest generation IGNITE and Nexus features in line with our customer capture strategy. Polymer orders have been strong. Our polymer investment program is progressing well. We have ordered the equipment that will take our polymer substrate capacity from the current two billion banknotes to more than five billion banknotes annually. We will get our second line up and running around the end of this calendar year in time for the anticipated ramp-up of demand. Finally, we have progressed our polymer security features strategy. We launched a highly competitive foil on polymer feature in the second half of the year, and in due course, we will be launching further exciting new products to the market. Moving on to authentication. Previously mentioned, our authentication division has shown good order intake from the start of financial year 2020/2021 to today, with expected GBP 195 million total multi-year lifetime contract value secured in this time period. This was especially encouraging as there had been some delay to government signing new tax stamp contracts due to the pandemic. As I noted before, we saw really good growth in H2 as the contracts in Ghana and in the U.K. ramped up. As a result of the growth from the contracts in financial year 2020/2021 and the contracts that are now secure, we remain confident of the previously stated aim of GBP 100 million of revenue for this division in financial year 2021 to 2022. Therefore, we are pleased with the progress of the first full year of the turnaround plan. We saw a better performance from both authentication and currency in the second half compared to the same period last year. It has been a good year overall, significantly higher adjusted operating profits, better cash management, and a good set of customer wins. Now I'd like to pass over to Rob to go through the financials in more detail. Thank you, Clive, and good morning, everyone. Firstly, I'll take you through the key highlights from our income statement. This shows adjusted revenues for the full year falling by 10.2% to GBP 388.1 million. We'll come on to the drivers of this fall shortly, but importantly, both our currency and authentication divisions saw top-line revenue growth for the year. The fall in group revenue is purely related to the Identity Solutions business which was sold in October 2019, and the completion of the U.K. passport contract this year. Adjusting for this, the revenues for our go forward two divisions have increased by 2.5% or GBP 9 million year-on-year, from GBP 355.4 million last year to GBP 364.4 million this year. On gross profit, despite the overall fall in group revenues of GBP 43.9 million, driven by that winding down of our ID business, we've actually increased gross profits over the year from GBP 105.9 million up to GBP 107.8 million, which is an increase of 1.8%. That's really driven by the impact of turnaround kicking in with the currency division driving much greater efficiency from footprint rationalization, and also the impact from our cost reduction program, the GBP 36 million, with broadly a 1/3 of that cost reduction positively impacting our cost of goods sold and therefore gross profits. You can see from this slide that we've had a positive impact on gross margin, with this increasing by 330 basis points. Adjusted operating profits, as Clive said, landing at GBP 38.1 million, which is a GBP 14.4 million increase, over 60% versus the prior year of GBP 23.7 million. Again, if we strip out ID, the increase in profitability is even more telling. Specifically, the combined profit of currency and authentication last year was just above that break-even point at GBP 1.4 million, with currency a loss of GBP 9.4 million and authentication profits of GBP 10.8 million. Whereas this year, we've moved from just over break-even to driving combined profits for these two divisions of GBP 27.5 million, increasing year-on-year profitability of GBP 26.1 million. Similar to gross margin, we've seen an adjusted operating margin improving substantially at 430 basis point improvement, which again is driven by the successful delivery of our GBP 36 million cost-out program. IFRS operating profits of GBP 14.5 million are after we've taken into account some of the exceptional costs of restructuring the business, our cost-out program, and costs associated with the equity raise and refinancing of the business. Finally, on this slide, adjusted EPS was up 32.4% at GBP 0.147 for the full year. If we move on to the next slide on adjusted revenue, this is really showing a visual for what I mentioned on the previous slide. Showing the key drivers in adjusted revenue shifting from GBP 432 million for the prior year on the left-hand side of this chart to GBP 388.1 million for financial year 2021. You can see on this the GBP 52.9 million drop from revenue in Identity Solutions, the U.K. passport contract that concluded around about midway through financial year 2021. This has been partially dampened by top-line revenue growth of currency of GBP 5.2 million, and that's driven by that strong half two performance, which delivered GBP 34.8 million more revenue for half two, GBP 168.8 million, versus half one revenues of GBP 126 million. In authentication, we've seen full-year revenues up GBP 3.8 million. Again, a strong half two performance, which delivered GBP 14.2 million more revenue in half two, GBP 45.9 million, versus half one revenues of GBP 31.7 million. That really is a result of the revenues kicking in from some of those contracts that Clive mentioned earlier. If we move on to the next slide, this is showing our adjusted operating profits and a bridge showing the key drivers from the shift from GBP 23.7 million last year to GBP 38.1 million this year. If I start with ID on the right-hand side of this page, we see the drop in profits following the disposal of this business and the completion of the passport contract. Essentially a drop-off of GBP 12.2 million in profit, falling from GBP 22.8 million of profits in financial year 2019/2020 to GBP 10.6 million in financial year 2020/2021. Half one/half two analysis, only GBP 1.7 million of the total ID profits of GBP 10.6 million landed in half two, with GBP 8.9 million landing in the first half of this year. The currency division's profitability improvement obviously jumps out from this slide. Adjusted operating profits, this division has shifted from a loss of GBP 9.4 million in the prior year to operating profits of GBP 16.2 million this year. Which is a huge improvement in underlying performance of GBP 25.6 million. That's really driving the overall group numbers. That's coming through a combination of that strong volume mix, especially in half two, plus some of the side efficiencies and cost reduction activities that have been going on. In terms of half one/half two analysis for currency, we really saw a strong half two performance, with profits of GBP 13.7 million or 85% of those profits coming through in half two versus the profits of GBP 2.5 million for currency in half one. For authentication, as I said earlier, we've also had strong half two revenue performance, and we've got GBP 7.4 million of operating profits landing in half two compared to GBP 3.9 million landing in half one for authentication. The overall profit of this division is up by around about 5% year-on-year. If I move on now to cash flow. In terms of cash flow, you can see from this slide how our cash flows from operating activities, financing activities, and investing activities contribute to the cash inflow over the year. If I start on the left-hand side of this slide, we can see the business had GBP 3.2 million of inflows from operating activities, excluding exceptionals over GBP 11.2 million. If I cover the three big outflows that we've seen in terms of operating activities, firstly, on working capital, we've had a GBP 39.8 million outflow. What's that driven by? Essentially, it's an increase in receivables of GBP 19.8 million, and that's driven by really the timing of cash collection for overdue balances. Great news, we've received almost all of that landing post year-end, but unfortunately, we didn't get that pre-year-end. We've also seen a reduction in payables of GBP 16 million, and that's really driven by final payments to close out the U.K. passport contract, with around about GBP 12 million paid for the cessation of that. Lastly, we had a small build up around GBP 4 million in terms of inventory, and that's really timing related. We had some slight delays to shipment at year-end, and that's caused that push up there. Secondly, we had an outflow of GBP 11.4 million on pensions. You'll recall our annual commitment of GBP 15 million, and we paid the final quarterly payment immediately after the year-end, but within the timelines expectations of the trustees. Lastly, in terms of outflows, we've had GBP 11.2 million on exceptionals as a result of some of the severance payments we made from cost out initiatives, plus some of the costs associated with our equity raise and restructuring that we did last year as well. In the middle of this slide, you can ensure the inflows of financing activities of GBP 39.7 million. We see here, as I called out at the mid-year, the proceeds of the equity raise coming through of GBP 92.7 million, and that's been partially offset by a net repayment of borrowings of GBP 39.3, plus other finance costs, GBP 4.8 million for debt refinancing, GBP 5.7 million net interest, dividends and non-controlling interest of GBP 1 million, and lease liability payments of GBP 2.2 million. Lastly, on the right-hand side of this page, we saw a GBP 20.2 million outflow from investing activities, that's driven by capital and development asset expenditure as we invest in the business of GBP 21.1 million, plus other outflows of GBP 1.8 million, for example, the final working capital adjustment due to the sale of the Identity Solutions business. Offsetting these outflows, as I called out mid-year, we benefited to the tune of GBP 2.7 million from the sale of a non-operational property. If I can move on to the last slide to cover off net debt and pensions. In terms of net debt, as Clive said, this landed at GBP 52.3 million at year-end compared to the prior year of GBP 102.8 million. We saw from the prior slide, the successful equity raise proceeds has driven this improvement in the debt position, and that's helped to fund our turnaround spend and exceptional spend. In the top half of the slide, we summarized the facility that we agreed with our lenders last year, which is the GBP 275 million facility, and that includes GBP 100 million for bonds and guarantees with the ability to flex that GBP 100 million up to GBP 150 million. This facility matures in December 2023. On covenants, you can see from the last bullet point on the net debt table that we have significant headroom for both of our two covenants. On the net interest covenant, we had a ratio of 6.3x versus the covenant of 2.4x. On the net debt EBITDA ratio, we landed just below 1, 0.99x versus a covenant of 3x. In coming out below that one ratio, we will pay less interest from next quarter in terms of our facility. Our net debt for the full year was lower than expected, and that's really timing related in terms of some of our turnaround CapEx. We still, however, remain on track to spend what we said we were going to do over the next two to three years in terms of turnaround, but within the overall GBP 79.8 million that we mentioned 12 months ago in terms of total costs on turnaround CapEx and restructuring. We still expect to become cash generative towards the end of this year, peaking out in terms of net debt in Q3 of this year. If I move on to pensions, the lower part of the slide. The valuation of the group's U.K. defined benefit pension scheme on an accounting basis at the year-end is a deficit of GBP 18.5 million, and that compares to a net surplus position of GBP 64.8 million in the prior year. This movement is really driven by a lower discount rate being used for this year's valuation compared to that of the prior year. As previously disclosed on May 31, 2020, the trustees and the company agreed terms for the schedule of contributions and a recovery plan setting out the program for clearing the U.K.'s pension scheme deficit. This deficit is addressed by payments of [GBP 50 million] per annum, that's payable quarterly in arrears under the recovery plan, payable from April 1, 2020 until March 31, 2023. Then payments of GBP 24.5 million per annum, again payable quarterly in arrears from April 1, 2023 until March 31, 2029. Additional contributions are only payable in extreme circumstances, our next triennial valuation is set for December 2022. I can now pass back to Clive to cover off our summary and outlook. Thank you, Rob. In summary, we've had a good year in what has been the first full year of the turnaround plan. Our adjusted operating profit grew substantially, delivering GBP 38.1 million of profit with 60.8% year-on-year growth. The turnaround plan is on track to deliver the expected GBP 36 million pounds of cost savings, with the full savings flowing into financial year 2021/ 2022. We are also making good progress with our highly targeted product development. We reiterate our expectation of GBP 100 million revenue for authentication in financial year 2021/ 2022, the order book for currency is where we would like it to be. Now I'd like to hand back to Matthew to go to Q&A. Thank you, Clive. Okay. A couple of questions have been submitted so far, and there's a few which I will ask Clive and Rob to take. The first one is regarding the potential for a dividend to be resumed. Rob, the question's come in from Private Investor is, can we have some guidance on the expected resumption of a dividend after the refinancing lockout period expires at the end of this calendar year? Obviously, as we say, that we're not expected to pay a dividend, or we're not allowed to pay a dividend from 18 months post July 7, 2020 per the lenders' agreement. We're looking at very much early next year before we start to consider a dividend. At this particular point in time, we haven't actually set parameters of what that could look like. Certainly, we did set the expectation 12 months ago that as we move towards generating cash at the end of this year and into next year, we will be certainly looking at dividends. At this point in time, we haven't actually set out what that could look like in terms of the quant. Okay. Next question's come in is from an individual shareholder. I'll ask Clive to cover this one. There's been little or no mention of any discussions with governments on COVID vaccine certificates. Can you give us an update on whether there should be any updates or progress on that? Yes. By design, there hasn't been much talk about it, because COVID-19 vaccine certificates do not form any part of our going-forward business plan. That said, we continue to have a very strong offering in both the physical and digital space for such certificates, and we continue to offer them to governments. Given the uncertainty of, A, whether the governments will choose to implement a scheme, and B, whether that scheme would then be compatible and they would choose us, we are fully focused on the turnaround plan as we've designed it. It is really the same situation as I mentioned some months ago, that we do not consider this to be part of our going-forward plan, although we have a very strong offering that is available should a government or governments so choose. Okay, thank you, Clive. One which I'll ask Rob to cover, which is, can we comment on the impact, if any, of any raw material inflation on the business and any steps we're taking to mitigate this? Yeah, certainly. I think that we are seeing headwinds in terms of some of our raw material commodity prices as a result of Brexit, et cetera. I think we're mitigating that impact proactively by looking at other cost-saving opportunities. Clive mentioned that we're not going to sit back with a GBP 36 million cost out program. We're looking at further efficiency to drive out additional cost savings across the organization and essentially mitigate any of these headwinds that are coming through. From my perspective, we're managing that. It's business as usual. We've got to find other areas to optimize and save costs to deal with these headwinds. Nothing of concern from my perspective. Great. Thank you, Rob. Okay. That covers all the questions we've had so far. Just give it a short while in case there's any others. Okay, that looks to cover all of it. I think unless there's anything else, we'll close off the call, and have a good morning, everyone. Thank you very much.