Welcome everyone to the presentation of the results for the first quarter of 2021 for Arcus. My name is Sigmund Toth. I am the Interim Group CEO, and I have with me today for the presentation Kristoffer Loftesnes, who is the Head of Business Controlling and Treasury. We will have a Q&A session at the end of the presentation. We encourage all of you to ask questions in the chat, and then we will read back the questions and answer them after we have finished the presentation. As usual, on the slides, we are showing pictures of some of our products, and on the first slide, a very relevant product for the summer, which is a classic of ours, Løiten Sommer, an akevitt specially designed for the summer. Next slide, please. I'm very happy to present strong results, a good start for 2021. We see operating revenues that have grown by 9.4% versus last year, and on an organic basis, the growth has been 8.2%. We know that the months of March and April, there is often an Easter effect, and that was the case this year as well, with Easter coming earlier in the month of March rather than the sales coming in April as last year. For reference, we've also included the organic growth for April year to date. Although that is lower since we had a positive Easter effect in March, the figures for April year to date are also very strong at 4.7%. We are happy also that not only did we have strong top-line growth, but this translated into a very strong bottom-line growth. Even stronger, actually, than the increase in the top line, moving from NOK 66.6 million to NOK 102.2 million. The underlying reasons, as we'll go into more detail for this increase in the result, was coming in particular from the wine segment, where we saw continued growth of the top line at very strong or actually increased margins versus last year. We also saw from the spirit segment solid growth across particularly the Nordic monopoly markets, but also Denmark. The logistics segment, it saw increased volume in a business that's only Norway, but at higher cost levels given the exceptionally high volumes. Here in the bottom right corner, we have one of our biggest successes this quarter, also over the last year, Wongraven Morgenstern Riesling. It's actually one of the biggest sellers that we have, and it's the white wine BiB at Vinmonopolet that grew the fastest in number of liters compared to last year. With that, if we move to the next slide. Here we dive a bit more into the organic growth. As I said, for Q1 in isolation at the overall level for the group, it was 8.2%. That breaks down into very strong growth for the wine segment at 10.8%, spirits 4.1%, and the logistics business 3%. Again, as I said, some of that Q1 effect is due to the earlier Easter. The April year-to-date figure is also very strong at 4.7% for the group, driven by wine at 6%, then with spirits coming in at 2% and logistics at 2.8%. Here in the bottom right corner, we see a new addition to our classic cocktails lineup. These are ready-to-drink pre-mixed cocktails. This is the latest flavor, tropical daiquiri, adding to that lineup. These have been big sellers in Norway for a long time, but we are now happy also that we are seeing strongly increased sales of these outside Norway and in particular in Denmark of late. Next slide, please. Starting our deep dive into the segments with the wine segment. As I mentioned earlier, what we've seen here is we've seen continued growth of the top line and improved margins. Operating revenues moved from NOK 377 million last year to NOK 425 million this year. That's a 10.8% organic growth. EBITDA moved from NOK 36.6 to NOK 67.5. That's a very strong increase in adjusted EBITDA margin from 9.7% to 15.9%. The underlying reason for why margins are improving that much is that we have a very scalable model with good cost control of our fixed costs. So when revenues increase that strongly and fixed costs remain the same, we have a positive scale effect on our margins. In addition, we've also seen a strong increase in gross margins due to the fact that we have favorable currency effects this quarter compared to the very high foreign exchange last year. We have also then adjusted the prices accordingly. This year, we are getting the positive windfall from those price corrections and from the more favorable euro and US dollar currency rates versus the local currencies. In terms of the market performance, Sweden, we've seen strong revenue increase and actually increased market shares in the first quarter. In Norway, we saw very strong revenue increase driven by COVID-19 and the early Easter. Our share was actually slightly down this year versus last, but we should recall that that's versus extremely strong comparables. Last year in March, we benefited from the hoarding effect due to the pandemic. Actually, we were benefiting more than our competitors from this hoarding effect, given the product mix that we have with very strong positions, especially in bag-in-boxes. Compared to that strong base in terms of market share, we were slightly down. In Finland, we've also seen growth in sales to Alko, but they were below the very strong market growth. This is due to the fact that we lost some producers in early 2020. We're still carrying that effect with us this quarter. Here in the bottom right-hand corner, we see one of our dry and fruity offerings within the white wine segment offered in a convenient pouch. This product is called Muscadet & La Mer, and it has a listing from March in Vinmonopolet. We believe that this is a product that will perform strongly due both to the content and to the convenient format during the summer months. With that, if we can move to the spirits slide. Here in spirits, we've seen strong growth across the Nordics. Operating revenues in terms of organic growth, they increased by 4.1%, NOK 200-NOK 217, and we saw an increase in EBITDA margin from 9.4%-12.3%, and that is in adjusted EBITDA from NOK 18.8 million-NOK 26.7 million. The performance in this quarter is driven by strong performance in the monopoly markets, Norway, Sweden, and Finland. Here again, the reason is the COVID-19 restrictions, which is moving sales from duty-free and from the border trade to the monopoly channels, also from HORECA, obviously, to the monopoly channel. The early Easter, which has an even bigger impact on spirits sales than wine sales. In Norway, we've seen high sales of aquavit as well as bitter and vodka, and this is also an explanation for the margin improvement. In the duty-free and the travel retail and HORECA channels, there's still very limited sales due to the travel restrictions and the limited offer of restaurants. That's the spirits slide, and here in the bottom right-hand corner, we see Linie, one of our key products in the aquavit segment. Our aquavits, they've been performing extremely strongly in various blind tasting competitions, and the Linie product itself has actually won both in the period, both the double gold and the gold in two different competitions. With that, if we can move to the logistics slide. Performance of logistics, it's really in an extraordinary situation. Logistics segment is serving the Arcus business and two-thirds of its volume, other importers and producers in the Norwegian wine and spirits market. Of course, with the extraordinary volumes going to the monopoly, Vectura as the business is known externally, has also seen an even further increase in its revenues. The organic growth in revenues was 3%, but the increase in volumes to Vinmonopolet was actually almost 23% with a very strong focus on timely deliveries. That comes at a cost. We are now operating at a run rate that is significantly above what the facility at Gjelleråsen was designed for. And that means that in order to keep service levels at the required levels, we need to use overtime. We need to use the weekends and night shifts. And essentially, that is what is driving the negative EBITDA performance in the quarter compared to last year. Here then we have yet another aquavit in the bottom right-hand corner, and that is our oldest brand, Lysholm, where we are celebrating its 200th anniversary this year. And we are doing that with a special edition. The content is a particular blend of aquavits, and the edition is a limited one of 10,000 bottles. With that, if we can move to the next slide, and here I will hand over to Kristoffer Loftesnes, Head of Business Controlling and Treasury, to take us through the financial performance details. Yes, thank you very much, Sigmund. If we go to the next slide, let's start with the breakdown of the revenue growth. As Sigmund already mentioned, we saw again very strong organic growth during the quarter, mainly due to the high sales at monopolies. We also had a positive currency effect, mainly due to the stronger SEK and EUR and Danish kronor when it's translated to Norwegian kronors using the average rates for the quarter as the rates changed significantly during the quarter last year, but average rates. I will come back to this. On the structural changes, we don't have any of those this quarter because Wongraven acquisition, as we normally include here, was done in December 2019. That explains our organic growth and our currency effects. Moving on to the next slide, the group P&L. I would say it's two items mainly that we need to address here. Again, same as last quarter, it's the other income and expenses, which is still explained by the ongoing merger and the non-recurring costs related to this. The other item to address is the net financials and other. As you can see, a significant change from last year. Last year we had significant effects on the currency effects. That was the one reason, the currency effects, when the NOK weakened against SEK and EUR. The other one explaining this deviation is an updated valuation of the non-controlling interests. That explains this deviation this year. Moving on then to the next slide on currency. As I already mentioned, we had positive effects on the stronger SEK when these revenues are converted to NOK. Currently, this picture has changed a little bit, and you can see that on the right-hand side when using the current rates, estimating the effects for the rest of the year. This quarter, we also had positive effects on EBITDA, mainly due to the stronger SEK and NOK this time versus the euro and the US dollars. This is mainly due to the sourcing of wine. Moving on to the next slide, cash flow. There we have a higher adjusted EBITDA, but the lower cash flow is mainly explained by three reasons. In Q1, we do normally have a seasonal effect with settlement of alcohol tax and VAT payables related to the higher Christmas sales. This effect from change in working capital was even larger this year due to higher than normal sales in Q4 2020. Secondly, last year, the reported cash flow had a significant positive translation effect on foreign currency cash balances in the NOK reporting entities. That is, as I mentioned, the change in currency rates during the quarter last year. This year, we have a more normal fluctuation. The last point to explain the cash flow is under other, it's still the non-recurring costs that I mentioned earlier. Moving on to the slide for our gearing, the strong cash flow during 2020 have increased our cash position significantly, in addition, the long-term loan in SEK is now reduced when reported in NOK due to the weaker SEK, and that as the end of the quarter. These both effects reduce net debt compared to last year. When we also add the significant increase in the rolling 12 adjusted EBITDA, we see our gearing NIBD over EBITDA adjusted being significantly lower this year and below our target at the current state. With that, I give it back to you, Sigmund, for the next slide. Thank you, Kristoffer. Here on this slide, I can't not mention it. We see the Skagerrak Nordic Dry Gin, which is one of our biggest successes, particularly in Denmark where it has established itself as the number two gin actually in the premium segment already, and we hope and think that it has further room for growth. That being said, if we can move to the next slide. A brief update on the planned merger with Altia to create Anora Group. Here there are very relevant progress being made, I would say almost day by day, latest yesterday. We continue to be fully committed to the merger, and we have now received conditional approval for the merger between the two companies from the key competition authorities in the relevant countries. That's to say from Finland and Sweden in April, and from the Norwegian Competition Authority authorities in May, actually yesterday morning. The completion of the merger, as we've previously communicated in the releases, it may be delayed to the fall of 2021 because the conditional approvals from the Norwegian Competition Authority and the Finnish Competition Authority, they require binding agreements on the divestments, so the remedies that we have committed to, and this agreement must be entered into before we can complete the merger. That's something that we are working on, obviously the sales process, and we have negotiations going on with several buyers. How long it takes to complete this process and in order then to be able to proceed with the merger is a bit difficult to say at this point in time. As we've previously communicated, that may go on and be delayed than the completion to the fall of 2021. We can move to the next slide. A brief update on Corona. This is a key priority of ours to take proactive measures to reduce the risk of infection. Operations at the Gjelleråsen facility is running very smoothly thanks to the great effort of all our employees to take these COVID-19 precautions. It makes life a bit more cumbersome for some processes, but thanks to the good effort of our employees, things are running smoothly in spite of this. We regularly test employees, and we haven't had any new infections in the operation since November 2020. With that, if we move to the next slide. We have a financial calendar that will obviously be adjusted or aligned based on the merger. As I've done throughout the presentation, I will mention these lovely pictures in the bottom right here. As you know, over the last years, there's been a trend in wine moving from red wines to rosé or sparkling. What you can see here on the right is that we are extending those partner and own brands into this direction. On the left of each of these couples, you see the traditional red wine or the base white wine. You see the line extension of the brand into a rosé or in the case of Ruby Rosé into a sparkling wine. With that completes our presentation. We are opening up for questions. Please enter your questions into the chat, and then Per Bjørkum will read the question, and we'll try to answer. Thank you very much, Sigmund. We have already received a couple of questions. However, I encourage you, if you have questions, to type them in now. The reason for that encouragement is that there is a time lag between when you send your questions and when we receive them. In the meantime, while waiting for more questions, I can ask the three we already have received. Number one, the gross margin in wine is the highest on record. How should we expect this to develop through the year and into 2022? Very good question. I think that as long as Corona is ongoing, you should probably expect that this margin is at similar levels. Obviously, there will be variations from quarter to quarter based a little bit on the mix and where the market is going. As you know, we have better than average margins on own brands and in particular on own brand bag-in-box. For now, we see that trend during the COVID-19 pandemic is continuing, although in several of our markets, we've also seen over the last few months that there has been a faster growth in more expensive wines and in the bottles rather than the bag-in-box. Again, admittedly versus a very high base of last year, where the trend was a bit the opposite one. There might be some changes in the mix there that impact our margin probably, making it somewhat lower if the mix of the whole market shifts a bit more to bottles rather than to our bag-in-box. As long as the pandemic is ongoing, you'd probably expect to see margins at somewhat similar levels as these. That's one point. After we have exited the COVID-19 pandemic, we will probably see then a negative impact of the fact that the mix somehow will normalize. Again, this is the same thing that the proportion of bag-in-box or own brands sold will be lower and sales in Norway, where margins are somewhat higher than in Sweden for the same products, you will see a negative mix impact. I would also add that we have made adjustments last year to compensate for the stronger euro and the stronger dollar across the board. That has helped improve margins, I think, across most products in the portfolio. We think that some of this margin improvement, again, barring further changes in the currency that go in a negative direction, but with the constant currency, our expectation would be that we have improved margins sustainably even beyond the pandemic on most of the portfolio. Thank you, Sigmund. The next question is relating to the message or the decision we received from the Norwegian Competition Authority yesterday, where they approved the merger between Arcus and Altia. However, we have to sell a few brands. The question is: Can you please elaborate on the financial impact of the brands you have to divest? I don't think I will go in too much details on the financial impact of those specific brands. What I can say is that the remedies that we have to offer are largely in line with what we expected before signing the merger agreement. It's neither a positive surprise nor a negative surprise. We are, of course, working very hard on selling these brands and trying to get a fair valuation for those sales as possible. Obviously once we have managed that and we have completed the merger, our focus will be on creating profitable growth for the remaining portfolio that we have and obviously also on delivering the synergies that we have promised. I think what I can go into in terms of details on the remedies is that it's largely as expected when we did the planning or the analysis for the merger. Thank you, Sigmund. We have one more question to go. If there are more questions, please type in your question now due to this time lag. So far, the final question is: What type of players are looking at buying your brands? I don't think that this is something that I should be commenting too much on. I think that what we can say is that we have had very good interest for these brands, and we are happy about this interest and that so many strong competitors, strong companies have expressed an interest for this altogether quite significant chunk of brands. They are obviously, we think, companies that will be able to continue developing those brands in a manner that is good both for the brands and for the companies acquiring them. They are competent players within the wine and spirits category, I would say, without going into more details. Thank you very much, Sigmund. Thank you, Kristoffer. We have not received any more questions. Sigmund, I give the word back to you to finalize this session. I think that there is not much more to be said than thanks. Thank you, everyone, for attending this presentation. As you see, there is a financial calendar here. We'll see, depending on the completion of the merger, whether this is the last independent quarterly presentation of Arcus or whether there will be one or two more. It will depend. We are working very hard on completing the merger, and I thank you for your attendance at this quarterly presentation.