Good morning, everybody. Welcome to the analyst presentation of the Accell Group. Like you're used to, Ruben and I will present this. I will start with an update on the results, an update on progress with regards to the strategy, and then I will hand over to Ruben. Ruben is not with me in the studio. You will see him later. He is basically connected from where he lives at home, because he is in self-isolation, in self-quarantine. Let's start. The key messages for 2020 are that despite we had a disruptive year, we made a lot of good progress on the strategy, and I will come back to that in a minute. We had 17% growth, especially after May, obviously for logical reasons, and the added value was under pressure. Especially because we had to give discounts, and there was obviously also higher costs, and things that we'll come back to later in the presentations. OpEx reduced with EUR 7 million, and as a percentage of net sales, it was 22.1%. EBIT reported 25% up to nearly EUR 75 million, which is 5.8% as a percentage of sales. Trade working capital came in at 19.4 as a result of focus on cash management in combination with strong demand in the constrained supply chain. The last message is that as a result, underlying EBIT improved, and that underlying EBIT and lower Trade working capital actually helped to improve the free cashflow to EUR 195 million. Targets haven't changed for this strategic period. I think some of you can see that from six we went to seven strategic thrusts. We added cargo as a separate one, come back to that in a minute, and also we defined seven goals of our sustainable strategy for 2025. The first one is that 60% of our energy consumption of all Accell Group on premises will come from renewable sources in 2025, and by 2035, that should be 100%. The end-to-end Accell Group carbon footprint will be reduced by 30% in 2025. The outbound brand and transport packaging is single-use plastics free. Single-use fossil-based plastics are banned out of the internal organization. The use of single-use plastics in inbound transport of parts packaging from suppliers to our production hubs is going to be reduced by 50%, and we will use this year to define a Cradle to Cradle target for 2035, and also a roadmap and KPIs for interim targets for 2025 and 2030. With regards to diversity and inclusion, we aim to have more than 30% of the Accell leadership forum to be female in 2025. Here you see that the biggest carbon footprint is for us mainly at suppliers and at consumers. Cycling is the most sustainable means of transport if you compare it to other means of transportation. Our biggest end-to-end impact on greenhouse gas emissions is to push our products as alternatives for means of transport, especially for cars. Because an electric bike has 20 times lower carbon impact than a car. Obviously, e-cargo are going to help also to achieve this target. If you look at our strategic thrust and the progress we've made on lead global, win local, it's very clear what we lead from the center, what we coordinate, and is more led from the regions. If you look at brand development, marketing, sales, e-commerce, that's more on the regional side. It's overlooked obviously, by Group, and obviously we coordinate it, but that's a very clear progression to what we had. When it comes to IT supply chain, it's clear also that it is really being led by the Group. Innovation process in general is governed by a central innovation board, but again, the three innovation centers are in the regions, and actually led by the regions there as well. If we go to winning at the point of purchase, we see a few things we've seen before, focus on this winning portfolio of brands. For example, we will use Winora and Raleigh and Batavus and Lapierre this year to roll out additional cargo products, where we can actually win with this portfolio we have. There's a strong focus on omni-channel e-bike opportunities. We will use obviously many of the local and global consumer insights to exploit local business opportunities even better than before. Another thing which we are driving is even a better service organization, especially in Southern Europe and in Central Europe, and also a better availability through better planning. We made also quite nice progress last year on this one, although the disturbances in the supply chain and the disruptions are sometimes not very helpful, obviously. If we then turn to consumer-centric omni-channel thrust, it's all about developing and implementing digital platforms for all Accell brands and roll out CRM and order entry systems, and that's what we basically did last year. For this year, it's about developing experience centers with dealers in France and in Germany. It's obviously also growing the omni-channel bike opportunity by working with our customers, both in the parts and accessories business, but also in the bike business. It's also developing new business models. With regards to innovation, I think what we can mention there is that we made a lot of progress in introducing and implementing a new innovation calendar, as we call it, a heartbeat calendar, and that really helps us now to deliver in time in full. Obviously, it's great to see that we continue to win awards such as the Design & Innovation Award on the Haibike AllMtn 7 and on the Lapierre Overvolt. Behind me, you see an example of the Haibike AllMtn 7. A centralized and integrated parts and accessories business, as said before, that has worked quite successfully. We're continuing that. There's not much progress there apart from that the implementation is quite nice. Competitively, you see both logistically and commercially, we are building our competitive advantage. What is nice to see is that XLC, the private brand, is growing quite fast. With regards to Fit to Compete, I think an interesting result is that by the summer this year when we introduce model year 2022, we will, compared by the end of 2017, have reduced the number of models and SKUs by 40%. I think this process is not done yet. We will continue. I think a lot of work here has been done, which is good. We're working further on standardization of product and component platforms, and also a rationalization of our footprint, and we had two closures announced last year. Last but not least, the Cargo Strategic Thrust, where we see that our historical growth track continues in 2020 with 43% net sales growth, and where Carqon was introduced, and where more is coming this year. I think we're really on top of this opportunity and exploiting it with the right innovations and the right business with great support of the regions as well. We keep this running as a separate business. If you look at the summary of our progress, what is on track, I think underlying continued strong demand for our products, and that is continuing what we see, a simplified and innovation process and a more integrated innovation process, simplification of our regional structures. We've got four now instead of five, and also how they work together and are integrated. Growth of cargo continued very strong across Europe as we just saw. P&A had a great year because more people are cycling, and that is also continuing in line with the strong demand. We saw fixed cost decrease and with leverage, OpEx as a% of net sales coming down. Increase of EBIT, also underlying, and a huge improvement of working capital reduction, and obviously an improved balance sheet, which Ruben will talk about in a minute. What needs improvement? Obviously, the supply chain disruptions that are hampering availability and cost, which is absolutely a big point of attention for all of us. We're working very hard on that, but that is not easy. We can talk more about that later. Also, a lower margin due to cost discounts and negative mix. There, obviously, we are taking measures to make sure that we get on track again, and we have already taken them. I would like to thank you for the moment and hand over to Ruben. Yes. Thank you, Ton. I hope everybody can hear me. If someone could click. Seems I'm very much big fish on it. If someone could click to the next slide. As you can see the slides are coming. Yeah, great. Let's recap the main numbers, as Ton already alluded to. Net sales growth of 17%, very much driven by the recovery of demand of the shops we opened throughout Europe. Added value under pressure with a decrease of 284 basis points. Main driver, as Ton already said, are the additional discounts and selloffs, especially during the lockdowns, but also disruptions we saw in the supply chain. EBIT reported just coming in shy below EUR 75 million, EUR 74.7 million, excluding one-offs EUR 79.7 million. Trade working capital landed at 19.4%, a reduction of 1,300 basis points. Average trade working capital reduced with EUR 466, given the still higher order volumes, which we saw in 2020. If you look at those same numbers, plotted versus prior year, growth of 17% versus comparator of 7.5% prior year. Added value, the decrease, EUR 284 versus an increase in 2019 of EUR 53. EBIT, it's good to recap and remind ourselves of 2019. 2019, we had a reported EBIT of EUR 60 million, but excluding one-offs, that was EUR 55. In 2019, we had the benefit of the sale of the Canadian brand rights to CTC. That was a benefit in other income of EUR 11 million. On the other hand, in 2019, we had a write-off, mainly as a result of the $1 deal to Regent, acquiring on the brand rights like Diamondback. That was a EUR 6 million write-off. That EUR 11 million other income positive impact, and the EUR 6 million write-off led to a EUR 5 million net gain, hence the EBIT excluding one-offs in 2019 was EUR 55 million. Whereas this year we have negative one-off cost, mainly related, as we already said during H1, due to impairment of IT and also related to provision for restructuring, which we took in H2, mainly related to the divestment of two entities. That in total is EUR 5 million, which brings, if you can still stay at the previous slide. Can we go back to the previous slide? Which means that we are at EUR 80 million, excluding one-offs, versus EUR 55 million previous year, which is an increase of 45% like for like in absolute EBIT. If we then now go to the next slide. Let's zoom in on the top line. Here you see the split between the first and the second half. Second half, 35% growth versus comparator of 5.7, and we have seen first half at 4%. If we look at that growth per region, and that's the next slide. First region is the central region, which is Germany, Austria, Switzerland, and Eastern Europe. H1, minus 10%, very much hampered by the lockdowns. In H2, we saw a good recovery of + 14% growth, bringing full year to - 0.4%. We've seen in this region that during the lockdowns, so when shops were closed in Austria, Switzerland, and Germany, we have shipped some of our international German brands and our products to other regions like Scandinavia. That has also hampered availability. Clearly, demand was stronger than what we had in terms of available products. That's common, which actually goes for a lot of regions. Benelux, H1 5%, H2 37% growth, bringing full year to 18%. Strong growth, but especially on metal, which also thanks to good portfolio, we saw a stronger growth. If we then go to the next slide, you see other regions, which is basically Scandinavia, France, and U.K. We have to remind ourselves that France in H1 was one of the countries where the lockdown was the longest, and that lasted until the second week of May. 8% growth, but a strong recovery in H2 with 54% growth. That was across all those regions, across all brands, the U.K., France, and Scandinavia, which saw strong growth, bringing full year for those regions at 24%. P&A. Very good year for P&A, both H1 as well as H2. Full year at 36% growth. Basically two drivers. One is the growth at the dealers, very much driven by also the second-hand replacement market, with the whole boom in bikes and cycling has also helped on the parts and accessory business. The other driver of strong growth in P&A, and it's something we already started pre-COVID, is our partnership with the pure players, the online players like Bike24, which saw growth. We're also very happy to see that our own brand, XLC, showed a growth of 42%. If you go to the next slide, this is our long-term view. Over the last seven years, we've seen a growth of 9% of our business. If you actually look from 2017, our growth has been double-digit, over the whole period, which we display here from 2013 to 2020, almost a EUR 600 million increase. We almost doubled the business over the last seven years. If you could go to the next slide, which is a product performance slide. Here you see the split per type of product. The first one is cargo, now 3% of our business. Grew 43% last year. Actually in line with the growth we'd seen in 2019, and also if you look at the yearly growth in 2018, 40%-45% growth. Also here, hampered by availability. We saw stronger demand. We expect cargo, as we said before, to become 5%-7% of our business. Now P&A jumped to 28% of our business thanks to the growth. Traditional bikes declined -10%. We expect that to become 10% of our portfolio, now around 12%. E-bikes, double-digit growth, which we already saw pre-COVID, continues with 15% growth, now 57% of our portfolio, and we expect that to become 60% of our portfolio. If you could go to the next slide, please. Let's go to the rest of the P&L. The added value down 280 basis points. Three reasons, the main two are the upper ones, higher discounts. We see it very clearly in this year, especially during the lockdowns, we prioritize cash and absolute profit over the variable margin. That has come to the expense of margin discounts and sell-outs, especially during the lockdowns, also the disruptions in the supply chains. With factories scaled down in March and April with 70%, you can imagine what that does in terms of your cost price per unit. Even with factories up and running again in H2, we still saw disruptions. With delays in component deliveries means that you not always have the most efficient manning and efficiency you want to have in your factory. That has hampered us. Lastly, there's also a bit of an effect of product mix. We've sold more P&A. P&A has a slightly lower added value margin, but we have an offsetting benefit because P&A doesn't have the cost of factories. Let's bridge into the next slide. Fixed cost OpEx. Overall, OpEx has gone from EUR 294 million to EUR 287 million, a reduction in absolute terms of EUR 7 million. Thanks to the top-line leverage, you see a 430 basis point reduction from 10% to 6.4% to 22.1%. Basically, if you look at the three blocks of that EUR 7 million reduction, you can actually split into three blocks. One is the one-off effects. Second block, we call it the more variable cost components, and the third block are the other drivers. First block is the one-off effects As I said before, in 2019, we had a positive income related to the sale to CTC. That's set in other income. In OpEx, we had write-offs related to the sale of $1 to Regent. That write-off was approximately, once effected, approximately EUR 6 million. That's now a positive impact. We don't have it anymore. On the other hand, we have a negative one-off this year. As I said before, there was an impact of an IT impairment. We announced two entities to be closed in H2. Smaller effects, which were also slightly compensated by adaptive provision release, which we had for the U.S. business. The variable block. With factories down, we were able to scale the cost down. That has an impact of EUR -4 million. With the increased growth, especially in P&A, there you have a variable cost component related to that, which was an increase of EUR 7 million. Brings us to the other block, which is EUR 10 million reduction. Basically three main drivers. First is reduction in marketing expenditure. During the lockdowns, but also in a market where there's a constrained supply situation, we've cut marketing expenditure. Now, we've indicated already earlier that we are a branded manufacturer, we will invest back in a normal year in these marketing expenditures. Let's be clear that the first three months of this year have not been a normal year either. In a normal year, we would expect this to come back. The same with travel and expenditure. Reduction of EUR 3 million as a result of teams not being able to travel. That's a reduction. Leaves around EUR 1 million of other effects. If you could go to the next slide, which is the EBIT margin. Reported margin up from 5.4%-5.8%, but if you take out the one-offs last year and in 2020, an increase of 120 basis points, very much driven by the OpEx leverage that I've said, but the lower variable margin on the added value. If you could go to the next slide. The full P&L. Top line, 17% growth with EBIT coming in reported at EUR 75.9, EUR 74.7. If you look below EBIT, you see net financing costs going up EUR 12.8. A couple of drivers there. As a result of the additional agreed financing with higher commitment fees, higher margin cost, and let's also be clear that as a conscious consequence of holding more cash, clearly our cash position has not been the most effective. Income tax was a benefit, as it was previous year. A positive effect of EUR 1.9. Within there's a recognition of deferred tax assets of EUR 16 million, which has to do with the unrecognized losses we still had related to the U.S. business. Leading to a net profit of almost EUR 65 million. Again, if you look at EBIT reported, excluding the one-offs, which I just explained, we have an underlying EBIT just below EUR 18 million. If you could go to the next slide, then we'll move to the balance sheet, starting with working capital. On the left, you see the periodic working capital movement. On the right, you see the average. Dark blue, you see inventory. Green, you see debtors. Light blue, you see creditors. Clearly at the end of the year, going down to EUR 19.4, driven by inventory. A couple of drivers there. I said before, we focused very much in 2020 on cash conversion. Making sure we sell also the slow movers. Let's also be clear, there is a big element there of seller's market in a constrained supply chain, which caused inventory to go down. Also, debtors down to 8%, two drivers there. We've seen a reduction of overages in this time. We expect dealers to pay on time in order to get bike ships to them. Clearly also, when you look at the year-end debt position, always a bit low, and you then compare it versus net sales of EUR 1.3 billion. There's also the numerator effect of just having a higher net sales. The average also down 470, being not so profound as the periodic, given the higher Q1 2020 we still had. It might be good to go to the next slide to remind ourselves of the normal seasonality in our trade working capital. Again, if you can just keep the first block or two. You can take one back, please. Yeah. If you see here the normal seasonality, normally what you see in quarter three is that's when we start taking orders. We start placing orders at suppliers. From quarter three to quarter four, our inventory goes up, with a corresponding impact also on the credit position. Moving into quarter one, we convert semi-finished components into finished bikes, leading to a higher inventory, but you already start selling bikes, leading to a debtor position, which then in quarter two, you convert into cash. The debt is coming down, inventory coming down. In quarter three, a further reduction in trade working capital by reduction of debtors. If you then look at the next slide, if you could click, what happened this year, quarter one at 39% trade working capital. If you look within that, inventory was very high, as we indicated before, given the lockdowns. In quarter two, we have been able to convert a lot of that inventory into debtors, but already part of the debtors into cash. What you're seeing in H2 is a further reduction of that inventory, but also a further reduction of debtors into cash, with debtors coming to 8%. Credit is also low, which is a corresponding effect of your phasing a new order of your inventory, which the delays we are seeing in terms of component deliveries. If you could go to the next slide. Here you will see the cash flows. I will start from the left, cash from operating profit, because actually that is, on the long term, sustainably the most important one. We've always said that as a seasonal business, there will be swings in our working capital. We clearly see as a strategic target in 2022 to bring that under 25%, that there are benefits on cash, but structurally and sustainably, our positive cash will be driven from profit. Now with the first full year of no impact of the U.S. business, you see that cash from profit going to EUR 100 million. What we also reiterated today that we are confident to hit our 2022 targets. With the market demand, with the leverage on our fixed cost, that number should only go up. That's basically the big driver sustainably to a positive cash flow. Clearly in 2020, with the big reduction in trade working capital, also positive impact from cash from working capital. Interest and taxes, roughly split at 50/50 between interest paid and tax paid, leading to cash from operating activities more than EUR 200 million. Cash from investing activities are the normal investment we do in our factories and some intangibles, leading to a free cash flow of EUR 195. There's EUR 7 million cash from financing activities, which are movements in borrowings and also the lease payments that are for EUR 60 related bits. If you go to the next slide. The covenants. Basically, two messages on the covenants. One is that in 2020, we arranged additional liquidity to deal with the uncertainty, the length, and the depth of COVID, which was the gross in May of EUR 150 million, of which EUR 60 million has been drawn. The second main message is, given the numbers we were showing today, that we are well within the ratios of our covenants. The term loan around two, and solvency, for example, at 35%. If you go to the next slide. The balance sheet. I think it's not the time to go in all details on the balance sheet, but just as an overall, you see the asset base going up from EUR 859 million to EUR 879 million, increase of EUR 20 million. The cash and cash equivalents has gone up with around EUR 160 million. If you adjust for debt, there's a EUR 140 million reduction in the asset base, which is driven by a reduction in the inventory, which you can see, and also in the trade receivables. The other end, you see an increase, for example, in the deferred tax assets, which links to the deferred tax asset recognition, as we just explained. If you can go to the next slide. This improved balance sheet and the higher profit has also led to a return on capital employed reported 14.6%, but if you exclude the one-offs and IFRS 16, it's 16.4%. I'll jump to the right circle first, net debt. Given the positive cash flow, net debt EUR 79 million, and excluding IFRS 16, EUR 50 million, a reduction of EUR 185 million versus the previous year, given the strong operating profit and the trade working capital movement, leading to net debt, rolling EBITDA of less than one, 0.8 reported an 0.6, taking out the one of 16 versus a 3.1 of the previous year. Then to the next slide, which is basically the conclusion. Strong recovery, second half leading to 70% full year growth, which was broad-based with especially cargo and P&A as outliers of this strong growth drivers. Variable margin, the added value margin under pressure 2 84 basis as a result of discounts and disruptions in the supply chain. Focus on cost in combination with the leverage has helped to lead to a fall of 30% reduction of OpEx. EBIT underlying up with 45% to EUR 79.7. Trade working capital coming in at EUR 19.4 as a result of focus on cash in combination with strong demand in constrained supply situation. As a result of that improved EBIT and now trade working capital, we see net debt stood at EUR 50 million, with net debt to EBITDA just 0.6. Return on capital employed at 14.6%, underlying 16.4%. Given the additional financing and also the current balance sheet, there's sufficient headrooms for confidence as well as liquidity to deal with the uncertainty and volatility of COVID-19. With that, I hand back over to Ton. We'll continue with the outlook. I think it's clear and everybody has probably seen it as well that COVID itself, but also the European Green Deal and all the governments taking the same initiatives, have put cycling more firmly on the political agenda than ever before, because it's a solution and everybody sees it currently for many societal and urban problems like lack of physical health, pollution, congestion. Also, I think the growth drivers of the market are really acknowledged and the forecasts that look very positive up until 2030, with basically the big drivers of the market being electrification, which we've seen over the last few years, which is accelerating currently, bicycle infrastructure investments, like Boris Johnson has announced EUR 2 billion for the coming years and more to follow in many other countries. That's at the end of the day, if people are able to cycle safely because there is bicycle infrastructure, then obviously that's a big driver of the market. Then subsidies or fiscal stimulation like we've seen in Italy, which is going to be announced in a few weeks in the U.K., which we've seen in France, which is in place in Flanders and in Germany very positively and successfully, is also a third big driver of the market. The outlook for our bicycle and parts and accessories business from this perspective is very positive for the coming years. In the short term, however, it remains uncertain what the effects of the pandemic will be on our facilities, on shop openings, on consumer behaviors. Day before yesterday, Germany announced that the shops will be closed till the 28th of March, and let's hope that it's it, but obviously that will have an effect. I think also what is good to realize is that our supply chain is still hampered and still we see a lot of disruptions. In this case, not because of lockdowns in China or in Europe like last year and the decisions the industry and also we took to postpone orders and to bring them back forward again, what was last year the cause. Now it's that basically all component suppliers are not able to meet demand, the strong demand, continued strong demand, because their capacity is not allowing them to meet that demand. They have to invest. Some of them have taken the decision because there was a big discussion in the industry. Is this a bubble or is this not a bubble? I think we increasingly see that everybody's convinced this is not a bubble for the reasons I mentioned earlier. That means that we're currently on a track where these investments are being made. In some cases, that can take up to 12 months before it's actually having an effect. This will stay with us, I think, until 2022. What we probably are going to see is that there is a strong volume shift like last year taking place, disturbing a bit of the normal seasonality where a lot of the volume is being delivered in the second half. That's all dependent on how the delays continue, and that is indeed uncertain at this moment, and that's also why we're a bit prudent. That is basically our outlook. Prudent like last year, obviously, in total, positive if we look into the future.