Good morning. Welcome everybody to Accell's first half year results meeting today. Proposed we start. After the meeting, there is plenty of room for questions. Upfront, if there are questions at the end, please raise your hand, or you can also send it via the chat. The key messages for the first half of 2021 are the following. There is still a strong demand across countries and categories for our bikes and parts. We also see very good reactions, both through awards, but also through dealer reactions on our innovation portfolio, and we also see a very strong order portfolio. The global supply shortages and logistical issues have hampered our sales, as expected and as we outlined in March. As a result, our growth resulted in 3.3% net. Added value recovered with nearly 250 basis points, thanks to pricing and thanks to lower discounts. EBIT was reported up 35% to EUR 61 million, which is 8.7%. The underlying EBIT increased up 29%. Trade working capital came in at 29.6%, which was slightly down versus previous year, but up versus December 2020. Result from a longer cash conversion cycle. Last, the execution of our strategy continues according to plan, and our 2022 targets are in sight. Strategic objectives and financial targets are unchanged. The same holds for our goals of our sustainable end strategy in 2025. Now we come to progress on our strategic thrust. On the first one, Lead Global, Win Local, we have disposed the fitness and motorcycle equipment business in Sweden earlier this year. That's concluded, and we're in the midst of closing smaller entities in France and Germany. We go to the second one, Winning at the Point of Purchase. Despite shop closures and sales restrictions, underlying demand remains strong and service and availability are key to win at the point of purchase. Therefore, service organized through key regions is implemented with central coordination and oversight, and that makes progress. We hired also, a global service manager who is stepping this even more up than we have it today. COVID-19 impact continued to lead to supply chain disruptions, causing lower availability, and our actions taken were improvement of a plan on sales and operational planning through systems and data management enhancement implemented. Complexity reduction progressing on models, but also certainly on platforms, component platforms and bike frame platforms. Bill of material changes applied, enabling alternative component supply, and through that, obviously making sure our availability at the point of purchase is becoming better. There are scenarios in place on sales and working capital, where additional stock is allowed within bandwidth in order to serve customers. We move to the omnichannel strategic thrust. The Lapierre website and the Sparta website went live in the last few months. We've got full CRM sales and service live in the Netherlands and CRM service, so customer relationship management service, further optimized in France and in Germany. Direct to consumer Raleigh progressing further, conversion up and now at 32%. Our order tool, Accentry, is further enhanced with pre-order functionality and will be rolled out. On innovation, as I already said, there's quite a few awards and there's quite a few good reactions on model year 2022 and even on 2023. From that point of view, we're quite satisfied with the reactions we've seen and it's also quite nice to see that it's acknowledged by all kinds of design and innovation awards. With regards to parts and accessories, the H1 sales growth was 29%, especially here it's interesting to see, and we're very happy with that, at XLC sales was even 40%. The growth is driven both by dealers as well as by online players. Logistical excellence and online presence are key competitive advantages. Our steps taken here are the launch of a virtual warehouse, driving pan-European logistics, creation of XLC digital and content team, and the launch of an omnichannel website. With regards to fit to compete, I already mentioned a few things. There's a lot of work being done around further optimization of product and component platforms through standardization, obviously with positive effects on availability and with positive effects potentially on margin because of efficiencies in the factories. Availability is a key driver to competitiveness. The actions taken there is looking for alternative and getting them in place. Suppliers, bill of materials optimization, allowing flexibility for other components, and systems upgrade that allow a longer planning horizon, which is increasingly more important in these days. Lastly, bottom line savings agenda will be limited in 2021, as you can imagine. Last, cargo. We saw in the first half 43% sales growth, and cargo is now 4% of the total business. If you look only at the bike business, it's 5%, in line with what we expected, growing towards a share of 5%-10% in the coming years. There was a new cargo model introduced and presented, which was the Cruise. Smart cargo concepts were rolled out under the brands Raleigh, Winora, and Batavus, and will be delivered to dealers and consumers in the second half. We can mention the launch of a business-to-business concept to capture the last mile delivery opportunities in cities under Babboe Pro. If we summarize our progress, we see underlying continued strong demand for products and brands. We see strong growth of cargo continued across Europe. Strong growth in P&A by competitive drivers, among them logistics. We see a strong recovery of variable margin, thanks to lower discounts and pricing actions taken, and an increase of EBIT. Still work to be done and to be improved to ensure availability of critical components is increase the output of factories and therefore the increase of sales, increase efficiencies in our assembly locations, and shorten the current cash conversion cycle. Ruben will be come back to that because that is all related to critical components being delayed. Thank you, Ton. We continue with the financial part. If you look at the key metrics, we see improvement in all key metrics. Net sales, as Ton just alluded to, up 3.3%. Added value, recovery of 246 basis points. EBIT improvement of EUR 60 million, so 35% improvement, and EUR 40 million underlying, 29% improvement. If you look at trade working capital versus June last year, 16 basis points improvement. If you take the average, almost 1,000 basis point improvement. Now, those same numbers then plotted versus previous year, 3.3%. In March, we sold our motor and fitness part business in Sweden. If you correct for that disposal, the underlying growth is 3.7%. Almost in line with the growth last year. We recovered around two third of the margin erosion last year, this year, despite still having supply chain issues, and we will come back to that. EBIT, as I said, 35% improvement. EBIT excluding one-offs this year is the same as EBIT reported. Last year we had an impairment. The underlying last year was higher, hence 29% if you compare excluding one-offs. Let's zoom in on the top line. Let's be clear, we have had, as Ton said, component shortages hampering our bike sales across countries, regions, and bike categories. You see that most profound in the central region, which is Germany, Switzerland, Austria and Central Europe. One element there is because of a higher element in sport segment, where we had more shortages on components in combination with the fact that it is more difficult to change a component on a sport bike. You can imagine a suspension fork in lifestyle, you can make a commercial trade-off to change that. For sport, that's more complicated, which hampered us more in Central. Next to that, on Winora, we had some specific component shortages and a very low starting stock going into H1. We do see very strong reactions from dealers and customers on our portfolio, and the order book remains very strong. Benelux almost flat. There are shortages, but the team has been able to find alternatives, for example, on Batavus, and we also see strong growth of the cargo e-bike sales. Other bike regions, that mainly is Scandinavia, U.K., and France, 8% growth. As you might recall, last year, the lockdown in France was a lockdown which happened till the second week of May, the longest lockdown. A bit of a lower comparator next to that. The starting stock position, for example, in France, was a bit higher than what we've seen in the other regions. P&A, as Ton already said, hoovering on. Last year, H1 P&A, around 26%-27% growth. H2 last year, 45% growth. Now 29% growth, driven by strong replacement market in the bike market. We see strong growth at dealers, also growth as a consequence of our decision to partner with online players. As Ton said, XLC brands growing 40% in the first half. That brings us to the average over the last seven, eight years. Business, which in 2014 was around EUR 400 million-EUR 450 million, now EUR 700 million rounded. Average growth of 7%. You see the 3.3% and 3.7% organically. The split per product, per category. This is through a slightly different hierarchy. The numbers in parts slightly different than on the previous slide, it's the same trend. Cargo growing 43%. 4% of that business is as Ton said, we expect that to continue. Parts now 31% thanks to the strong growth. As said, last year, we've seen a strong H2, 45% growth. If you look at absolute run rates, H2 is EUR 20 million higher last year than H1, the comparator will go up, that in combination with the fact that also in parts, there are supply shortages. It's a different supply issue than in bikes, because clearly you don't need one component to finish the sale of one finished article. On the top runners, we see pressure on also parts. We expect the comparator will go up, also a bit of pressure on the run rate, the growth is expected to decrease. Traditional bike - 7%. That's in line with the long-term trend, let's be clear that the order books also on traditional bike are higher. This is linked very much on the shortages. The same with e-bikes, where we had very low stock starting in position, but the underlying trend and structural trends are much stronger. From the top line to the margin. You see the margin recovery almost 250 basis points. Let's recall what happened last year. Last year, we had a margin drop, and the two main drivers were inefficiencies in the factories. During the lockdowns last year in Europe, we had to scale down our factories, and therefore lower output with a higher cost price per unit, and the other element we had last year was discounts. On that bit, in the factories, there is higher output, but not as much as we had wanted, and clearly that's because of the supply and component shortages. You don't see a strong recovery on the margin driven by the supply side. The recovery is fully driven by lower discounts as well as taking pricing, offsetting the inflation cost. Then on the OpEx. OpEx is up EUR 7 million. As a percentage of net sales is up 38 basis points. Just from the mathematics for this, if we would have grown 5%, the OpEx is flat. I never like to talk about if we would have grown, but it just gives a bit of a sensitivity of what the top line does on our OpEx level. If you split it again into three blocks, one-offs, the more variable part of OpEx, and the fixed part. Last year, we had a one-off mainly related to an impairment. That helps us now to go down. You then look at the variable part, which is around 35%-40% of the total OpEx, because of the inefficiencies in the factories, we had crews and schedules ramped up to do the production. The absolute cost increase went up in our factories. Distribution is fully related to the growth in P&A, which has a high percentage of distribution costs given the nature of this business. EUR 4 million increase related to the variable part. You then look at the fixed part, where last year we had a reduction, as you might recall, five years where we've taken cuts. On the back of that low comparator, we're now going up. We are reinvesting clearly in our innovation, given the strong structural trends and also a bit again in marketing. You have another bucket of EUR 2 million compared to last year with vacancy stop and a bit of inflation. The EBIT margin. EBIT margin 210 basis points up, which is basically the variable margin increase of 250 basis points and the OpEx increase of 40 basis points, so that's the 35% increase also in absolute terms. Underlying EBIT is up 170 basis points, which is the variable margin of 250 basis points, an OpEx impact of -80 basis points brings us to an 8.7% EBIT over the first six months. If you look at the full P&L, we've already spoken about the top line, so the growth numbers, added value now at 30.1%. OpEx, you see the EUR 7 million up, leading to an EBIT of 61.1%. Below EBIT, the net finance costs are roughly in line with last year. We have a higher commitment fee, but that's offset by a lower margin because we have a lower leverage. Income from equity account investees, that's mainly the income from our participation in Italy. Result from sale of subsidiaries is the sale of our motor and fitness part business in Sweden. Income tax expense went up in absolute terms, given the higher absolute profit. As a percentage, slightly down, giving a lower share of our German business, leading to a net profit of EUR 44 million up 54% versus the previous year. On the right, you see the EBIT reported. EBIT excluding one-off is the same, and last year, you see the one-off. From the P&L to working capital and the balance sheet. On the left, you see the period. On the right, you see the average. On the period in dark blue, you see inventory, green adapters. You see on the period down 20 basis points. The average almost down 1,000 basis points. That is because of two reasons. One, if you look at 2021, it still has the last six months of 2020, where we had a very low inventory level. If you look at 2020, that still had six months of 2019, where we had a high trade working capital. Probably more interesting to look at what has happened per quarter, and recap. Here where we will start with is the trade working capital evolution. We will call it pre-COVID, 2018 and 2019, and I always like to start with quarter three. Normally in the summer, we have dealer shows. Based on that, we get an assessment of our volume and of our orders. After those shows in the summer, we start putting orders at our suppliers. You see therefore our inventory in H2 from Q3 to Q4 going up. That's stock in transit. That's component stock. In parallel, you see a higher creditor level because we have the payment terms with our creditors. If you then go to the left to Q1, you then see that we're further converting inventory to finished bike. Because we're also selling the bikes, and of course, this is all relatively speaking, but mainly in March, you see a high debtor position of the sales mainly in March. Your creditor level is then at the highest position, given the payment terms. In Q2, the cash conversion starts. You're selling from inventory to debtors, but you're also receiving the cash payments from the debtors before, so your debtors goes down, also paying the creditors. You see that cash conversion going further in quarter three, debtors going down, and creditors also being paid. In quarter four, we climb up the mountain again. If you look last year, it's like one slide off the mountain. In quarter one, we're at 39%, as you might recall, with inventory being very high. In quarter two, you see that conversion from inventory into debtors, but also debtors being paid. In quarter three, you see a further reduction of debtors. Unlike a normal season, and you've seen last year that actually our inventory went further down, where normally you build up inventory again. This is then also to plot what has happened now. You see first that low end inventory position, we have rebuilt inventory again. Debtors, slightly up versus quarter four, but lower than what you normally would have at the end of a quarter two. The inventory level are mainly components, which means if you talk from a cash conversion perspective, the first thing what first needs to happen is from component inventory to convert to finished bike inventory, and finished bike inventory then needs to be converted in sale into debtors, and then debtors, depending on the payment terms, converted into cash. The conversion of that component inventory into finished bike inventory is very much depending on the arrival of specific components. Now, from trade working capital to the cash flow. On the left, you see the main drivers, cash and working capital. We've said clearly that the balance from cash from profits need to increase. That's our main focus. Last year, EUR 59 million, now EUR 72 million coming from cash from profit. Clearly, given the low starting position end of December and the increase now, you're seeing cash out from working capital. On interest and taxes, EUR -8. Was last year also EUR -8. Roughly equally split between interest and taxes. If you look at the tax line in the P&L, that's higher. Also here you see the effect of a lower cash out driven by the deferred tax asset, as you might recall, related to the U.S. losses. That helps us in terms of a lower cash out in the cash flow. Some cash from investing activities leading to EUR 72 negative cash flow. Sale of subsidiaries, which is the sale of the motor and fitness part business in Sweden. Cash from finance activities is mainly GO-C. I will come back to that. Confidence and financing. A lot of information on this slide. If you start on the top left, pre-COVID, so to speak, we have a term loan of EUR 125 million and revolving facilities and a seasonal facility. Last year in quarter two, we arranged the GO-C financing. Good to recall the context of that. We said very clearly the GO-C financing needs to be seen to deal with the uncertainty around the length and the impact of COVID-19. At the end of March, we had the choice to say, "Are we going to draw the additional EUR 55 million?" If we would not have drawn that, it would not have been available to us anymore. Given that there are still uncertainties on COVID-19, we said, "Let's be prudent and make sure we have robust financing." We drew the additional EUR 55. There is a rescheduled repayment over five quarters, starting end of June 2021. We've done the first repayment of EUR 23 million, which will then be done in five buckets with the last repayment done 30th June 2022. The constrictions on the GO-C, I think, are known. If you look on the right, on the covenant, I won't go in all them. The message is we are well beyond the covenant limits, which have been reset last year. Even the pre-COVID covenant limits, we are well within that. The balance sheet ratios. Return on capital employed, 17%. If you correct for IFRS 16, the leasing and one-off, it's 18.5%, which is more than double where we were last year, and that's thanks to the higher rolling profit. Net debt, EBITDA, excluding one-offs, 1.2 versus around two the year before. Net debt, roughly the same as where we were at the same time last year. Summing the financial bit up, Net sales at 3% despite supply and logistical issues hampering the further uplift. Added value recovered with 246 basis points, thanks to lower discounts and the pricing. OpEx increased with 38 basis points by less one-off, but mainly due to the higher variable cost in the factories and distribution and reinvestments in marketing and R&D. EBIT up 35% in absolute terms, now 8.7% of sales. Underlying EBIT up 29%. Trade working capital, if you compare versus June last year, slightly down. If you compare versus end of year last year, there was a need to replenish versus the low end position. As Ton said, you also see the longer conversion time because of delay of specific components. This higher trade working capital versus end of 2020 is the main reason of the decrease in cash flow of EUR 72 million. Return on capital employed, I just said 17%, 18.5% excluding IFRS and one-offs, which is double what we had last year, thanks to the improved profit. With that, I hand over to Ton. We come to the outlook. We see positive impact of cycling has been firmly recognized by governments, businesses, and consumers alike. Market growth drivers like electrification, bicycle infrastructure investments, and also government fiscal incentives and subsidies, treating the e-bike like an e-car fiscally, will remain solid growth drivers for the years to come. Combined with our strong portfolio and innovation, these favorable secular trends translate into high demand for our bicycle brands and products. From this perspective, longer term, this looks quite bright. Order books are strong, well-filled. We expect that the traditional bike season will extend into the second half, as said before. However, global supply chain constraints will continue, and sales levels both on bikes as well as on P&A will be strongly dependent on the timely arrival of certain components, like for example, disc brakes. Particularly from the Asia region, where the spread of the Delta variant has prompted new lockdowns recently. It's good to be aware that vaccination rates in Far Eastern countries are relatively low. If you look at countries like Vietnam, Malaysia, Thailand, or Indonesia, it's less than 5%, 6%. There's a lot of lockdown measures around that. That is obviously, for some of our suppliers, hampering their production and hampering, obviously, our assembly. Backed by strong bicycle sector tailwinds, the strong portfolio in all supply and sales and operations planning actions taken, we're well on track to deliver on our 2022 targets. There I would like to conclude our presentation.