Hello all shareholders of Adevinta. My name is Lars Christie, and it's my pleasure to welcome you to this virtual annual general meeting for Adevinta. I would like to start by giving some practical information. You are watching a webcast of the annual general meeting, which appears at the bottom or the top right of your screen, labeled Live or Broadcast. When you log on, you will be able to see the number of shares you are voting for, and you can choose the language you want the system to use. There are four icons at the top, which you can select, and that are home, messaging, voting, and documents. Shareholders who want to ask questions or comment on any of the items on the agenda can do this in writing by selecting messaging. We would like to point out that you will be identified by your name, but not by your shareholding, and that your comments will be visible to all shareholders who are logged in. Everyone who's logged in will see a red dot on the messaging icon each time a new comment is published. Shareholders are welcome to submit questions and comments about items on the agenda when they want to, and they will be answered when we discuss that particular item. The documents icon will show you a copy of the notice of the annual general meeting and other related documents. By clicking or tapping on voting item, you can vote on each item on the agenda today. You can already vote now if you would, if you want to. You can cast your vote by clicking or tapping on the icons for, against, or abstain for each of the items. You will also see an icon that lets you cast the same vote for all of the items if you prefer. You can change your vote for each item during the annual general meeting until each of the matters is closed. Shareholders who have logged in and have already given a proxy or vote in advance or given instructions will not be able to vote on the items. No more shareholders may log in now, but if any of you have logged in and have connection issues or want to log on from a different device, you can do that again. Before we go into the formal agenda, I will give the word to Freddy Hermansen from DNB Registrar Department in order to read out attendance of shareholders. Thank you, Lars. Freddy from DNB. Represented here today, we have Chair of the board for 1,931,875 shares. We have chair of the board with instructions from 521,710,705 shares, and we have advanced votes from 345,995,263 shares. We have three shareholders attending and voting online, representing 221,063 shares. We also have represented three shares that are non-voting for 59,256,068 shares. In total, this gives the represented here today 1,000,165,600. Correction. Sorry. It is total votes represented there today is 869,858,906 shares. This is 74.62% of the total voting capital represented. Thank you. Thank you to Freddy. We will see if there are any comments to the notice of attendance for shareholders? That doesn't appear to be the case. We assume that as approved, and then we will go to the agenda. The first agenda item is approval of the notice and agenda of the annual general meeting. Before we go to voting, is there any comments to that agenda item? That doesn't appear to be the case. We go to voting to approve the notice and agenda. You can now vote. We assume that voting has taken place, and we can conclude that this agenda item has been approved with sufficient majority, and we close item number one. We go to agenda item number two, election of a chairperson for the meeting. It has been proposed that myself, Lars Knem Christie, is elected as the chair of the meeting. Are there any comments to that agenda item? That doesn't appear to be the case. We proceed to voting on that agenda item. You can now vote. We assume that voting has been completed, and we can conclude that that item has been approved by sufficient majority, and we will then close item number two. We proceed to item number three, election of a person to co-sign the minutes. It has been then proposed that the CEO of Adevinta, Rolv Erik Ryssdal, is elected to co-sign the minutes together with myself. Are there any comments to that proposal? That doesn't seem to be the case. We proceed to voting. You may now vote. We then assume that voting has taken place, and we can conclude that that agenda item has been approved by sufficient majority, and we then close item three. We proceed to item number four, which is approval of the financial statements and the board of directors report for 2021 for Adevinta ASA and the Adevinta Group. I ask the Lumi to go to the next slide on the presentation, and I will give the word to Rolv Erik Ryssdal, being the CEO of Adevinta. Thank you, Lars. 2021 was a year which showed good progress for our business. Of course, the big event that took place was the closing of the deal with the eBay Classifieds assets. That was closed on 25th of June, whereas the deal itself was signed in July the year before. That was a big event for us, and we worked hard on the integration. I won't spend too much time on the financials, but suffice to say that the total revenues landed on EUR 1.521 billion. That is to make it easier to read the numbers. That is assuming that the ECG had been part of the group for the whole year, and that makes it easier to compare for you. The increase was 10% in turnover. I think 2021 was also a very special year for all of us, with the continued pandemic effects, with lockdowns in part of our markets and with a very weak car market. The car market suffering from the lack of semiconductors and thereby kept volumes very low. That resulted also in lower volumes on our sites. Against that backdrop, I'm satisfied with the increase in revenues. At the same time, it's a similar increase then in the EBITDA of 10%. I think that's also a good result, keeping in mind the special market circumstances that we lived through last year. I think if we move on to the next page, we see that the important part when it comes to the strategy of the group. As I mentioned, the deal was closed on June twenty-fifth. At the end of November, we held our Capital Markets Day in London, where we presented our renewed strategy to shareholders. I'll just go through the highlights there. What they said is that we'll focus on the five most attractive core European markets. Those markets, they are France, Germany, Italy, Spain, and the Benelux market. That's where we hold leading market positions, where we believe we can expand much further and continue to drive the growth for Adevinta. We'll do that, especially by capturing the further growth in the key verticals. The biggest vertical for Adevinta now is the car vertical, with approximately 40% of total turnover. The second largest is the real estate. Those are the one that we pinpointed. We also have a good position in jobs in Spain and of course, the horizontals. That's the third point on that slide, is you see go fully transactional. That is delivering a similar experience as you would have from an e-commerce company when people are buying and selling from consumer to another consumer on our site. That requires a very different logistics from our side, that we kind of take care of the whole transactions from onboarding customers through the communication, through the shipping and payment, and even follow up after that. It's a big effort, but that is our strategy, and we're already delivering well on that promise in France, and we'll do it the same in other core markets. That's kind of those are the key parts of our strategy to deliver in our five markets growth in our key verticals and go fully transactional. Of course, we're a big company now. It is important that we leverage our technology and expertise across. We can do that by working closely together and also developing jointly tech components that can be rolled out in several countries. The scale gives us a competitive advantage compared to many other players. We've said not for this year, but in the medium to longer term, Adevinta also wants to play a role in continuing to consolidate the industry, the classifieds industry, and the strongest focus will be on our core markets. That's briefly the main items of our strategy. I was planning to stop there, but I'm happy to answer any questions about last year or about the strategy. Thank you very much, Rolv Erik. Just for the record also, the Chairperson of the Board of Directors, Orla Noonan, is also represented at the annual general meeting. Kjetil Rimstad, being Adevinta's auditor. Are there any questions to this agenda item? That doesn't seem to be the case. We proceed to voting to approve the financial statements for 2021, as in the notice. We proceed to voting. You can now vote. We assume that voting has taken place, and we can conclude that this agenda item has been approved with sufficient majority, and we close item number four. We proceed to item number five, consideration of the report of corporate governance. Adevinta has prepared its report for corporate governance. That report is included in the annual report for 2021. That has been made available on the Oslo Stock Exchange page and also its homepage, so Adevinta's homepage. There are no resolutions under this agenda item. If there are any questions or comments, I don't think I see the need to kind of go through all that report in detail. I assume that is available to the shareholders. If there are any questions or comments to the corporate governance report, we are welcome to respond to such. There doesn't seem to be any comments or questions to agenda item number five. We then conclude agenda item number five, and we proceed to agenda item number six, which is approval of the Board of Directors' declaration of salary and other remuneration to the senior management. That report was also then attached to the notice and made available on Adevinta's webpage and also on the Oslo Stock Exchange page. Before we proceed to voting, are there any questions or comments to that agenda item number six? That doesn't appear to be the case. We proceed to voting. You may now vote. We assume that voting has taken place, and we conclude that this agenda item has received sufficient majority, and we then close item number six. We then proceed to item number seven, an advisory vote on the Board of Directors' remuneration report for the senior management. As with the policy, the remuneration report has also been available on the company's webpage and on the Oslo Stock Exchange page, also attached to the notice. I don't think it's worth going into all of the details in the report. We assume that has been available for the shareholders. Before we proceed to voting, are there any comments or questions to that remuneration report? That doesn't appear to be the case. We proceed to advisory vote on agenda item number seven. You may now vote. We assume that voting has now taken place. We can conclude that this agenda item number seven, endorsement of the board of directors' remuneration report to the senior management has been approved with sufficient majority, and we then close agenda item number seven. We then proceed to agenda item number eight, approval of the auditors' fee for 2021. The proposed resolution is that the general meeting approved the auditors' fee of EUR 415,190 for the ordinary audit of Adevinta ASA. Before we proceed to voting, are there any questions or comments to this agenda item number eight? That doesn't seem to be the case, then we proceed to voting, to approve that agenda item number eight. You may now vote agenda item eight. We then assume that voting has taken place, and we can conclude that this agenda item eight has been approved with sufficient majority. We close then agenda item 8, and then we proceed to agenda item number nine. Agenda item nine is the election of members of the board of directors. In this room I have with me Mr. Trond Berger. He is the chairperson of the nomination committee, and I will give the word to Trond. Thank you. The current board in Adevinta consists of following. It's Orla Noonan as chair. She's also present here in the webcast. It's Fernando Abril-Martorell Hernández, Peter Brooks-Johnson, Sophie Javary, Julia Jäkel, Orla Noonan, Kristin Skogen Lund, Aleksander Rosiński, Marie Oh Huber, Mark Solomons, and Dipan Patel. Six of these the first names were elected in the annual general meeting then in June 2020. Five who were appointed directly by large shareholders in exercising their respective rights under Articles of Association. The nomination committee has conducted interviews and with board members and the Adevinta situation as such, and then propose to re-elect the names that I read for you, and is also disclosed in the report from the nomination committee. We can go to voting. Thank you very much, Trond. To make it clear, we are then voting for the six board members to be re-elected, to be voted by the general meeting and not board members that are appointed directly through the articles. We are then voting on agenda item number nine. Before we proceed to voting, are there any questions or comments to this agenda item? That doesn't seem to be the case. We proceed to voting, and I suggest that we then vote for agenda item nine A, B, C, D, E, and F, so all board members. You can now vote on all these agenda items nine. Please vote. I assume that voting has taken place, and we conclude that this agenda item nine has received sufficient majority. We close agenda item nine, and we proceed to agenda item number 12, approval of remuneration to the members of the board of directors. Again, I give the word to the chairperson of the nomination committee, Mr. Trond Berger. Thank you. As disclosed in the report from the nomination committee, we propose that the fee levels for the next year from this AGM is that it's then increased by 4% compared with the fee levels that we had previous year. It is disclosed in as I mentioned. I think we can go to the voting. Thank you very much, Trond. We are then voting on agenda item number 10. The proposed fee levels are included in the notice to the annual general meeting. We assume that is disclosed to the meeting. Are there any comments or questions to this agenda item number twelve, sorry, number 10, before we proceed to voting? That doesn't seem to be the case. We proceed to voting for agenda item 10. You can now vote, please. I assume that voting has taken place, and we can conclude that this agenda item 10 has received sufficient majority. We conclude agenda item number 10, and we proceed to agenda item number 11, election of members to the nomination committee. Again, I give the word to Mr. Trond Berger, being the Chairperson of the nomination committee. Thank you. The current proposition is then Trond Berger, that's me, and then it's Chris Davies from Baillie Gifford, Ole Dahl from DNB Asset Management, Andrew Kvålseth representing Schibsted, Karin Schwab representing eBay. It is then proposed to re-elect the nomination committee for the next term. We can go vote. Thank you very much, Trond. I also make it clear that we are now voting for the two nomination committee members that are on election to be voted on by shareholders being Mr. Trond Berger and Chris Davies and not the representatives that has been appointed by the shareholders directly through the articles. Are there any comments to this agenda item number 11? That doesn't appear to be the case. We proceed to voting on election item number 11. You can now vote, please. We assume that voting has taken place, and we can conclude that this agenda item 11 has received sufficient majority, and we conclude agenda item number 11. We proceed to agenda item number 12, being approval of remuneration to the members of the nomination committee. Again, I give the word to Mr. Trond Berger, being the chairperson of the nomination committee. Thank you, and also fees for the board, please. The board, the nomination committee proposed EUR 73,000 from last year. That's also disclosed then in the AGM notice. We can go to voting. Thank you, Trond. The proposal is as included in the notice for the annual general meeting. Are there any questions or comments to agenda item number 12? Doesn't seem to be the case, we proceed to voting under agenda item 12. Please vote. We assume that voting has taken place, and we can conclude that agenda item 12 has been approved with sufficient majority. We close agenda item 12, and we proceed to agenda item number 13. That being authorization to the board of directors to increase the share capital. The board has proposed a board authorization similar to what has been proposed and approved on previous annual general meetings. I will not go into all the details of the proposal. The proposal is included in the notice and detailed there. Before we go to voting, I will ask whether there are any questions or comments to agenda item number 13. That doesn't seem to be the case. We proceed to voting, and we're voting for the proposal as included in the notice on agenda item number 13. You may now vote, please. We assume that voting has taken place, and we can conclude that agenda item 13 has been approved with sufficient majority, and we close agenda item 13. We proceed to agenda item number 14, and that regards authorization to the board of directors to issue convertible loans. The board has proposed this authorization for issuing convertible bonds along the lines of the proposal that was approved on last year's annual general meeting. Similar to that, authorization the board has had up until now. The proposal is detailed in the notice. I will not go into all those details. Before we proceed to voting, I ask if there is any comments or questions to agenda item 14 regarding board authorization to issue convertible loans. That doesn't seem to be the case, we proceed to vote for agenda item 14, authorization to the board of directors to issue convertible loans as included in the notice. You may now vote, please. We assume that voting has taken place, and we can conclude that agenda item 14 has been approved with sufficient majority. We proceed to the last agenda item for today's general meeting, agenda item number 15, regarding authorization to the board of directors to buy back the company shares. Similar to the two other board authorizations, this authorization proposal is similar to what has been proposed and approved on previous general meetings for Adevinta to give the board the authorization to buy back the company shares. The detail of that proposal is included in the notice. I will not go into all these details. Before we proceed to voting, I ask if there are any questions or comments to this agenda item number 15. That doesn't appear to be the case. We proceed to voting for agenda item 15, authorization to the board of directors to buy back the company shares as included in the notice for the AGM. You may now vote, please. We assume that voting has taken place, and we can conclude that also agenda item 15 has been approved with sufficient majority, and we close agenda item 15. We have now gone through all the items on the agenda. Unless there is any comments or questions at the end of the annual general meeting, I then will thank you for participating in Adevinta's annual general meeting and for your interest in Adevinta. We conclude this annual general meeting. Thank you very much.
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