In this presentation, we will go through the summary of the quarter. We will look into market and sales for Bakkafrost and for the salmon market in general. We will look at the segment information, we will have a financial update from Høgni Jakobsen. Finally, we will look for the outlook for the quarter and take questions from you. In the second quarter, Bakkafrost harvested more fish than last year. 35% more fish was harvested in the quarter. In the Faroe Islands, 17,561 tons compared with 12,941 tons last year. In Scotland, we harvested 10,634 compared with 7,937 last year. Feed sales also increased 23% to 27,272 compared with 22,121 last year. Raw material sourcing for Havsbrún declined to 59,290 tons compared with 120,512 tons last year. The revenues for the group was very high, an indicator on a high activity in the quarter. I think this is probably the largest revenue for Bakkafrost Group in a quarter, DKK 1,617 million in the second quarter compared with DKK 1,134 million last year. The operational EBIT amounted to DKK 407.5 million compared with DKK 181.9 million last year. The cash flow from operations was DKK 532 million compared with DKK 111 million last year. Bakkafrost had positive results from all segments. If you look at the summary of the quarter, we see that the farming margin for the farming and VAP combined in the Faroe Islands increased from NOK 15.34 up to NOK 26.93 per kilo. For Scotland, the margin also increased from NOK 5.36 last year to NOK 6.75 this year. The VAP margin, however, dropped due to the market changes, the raw material price for raw materials, from NOK 11.06 per kilo to NOK 1.53. The FOF margin dropped slightly from 18.6% to 16.5%. If you look into the markets and sales, we see that our sales changed somewhat. We reduced the sale in Western Europe from 72% last year overall to 59% this year. Some volumes was moved to Asia and to North America. We see that North America increased from 13% to 18%, and we see that Asia drops from 15% to 14%. From Faroes, there's a drop in the total supply from 19% to 13%, and in Scotland it increases from 8% to 15%. Eastern Europe increases, especially from the Faroe Islands, from 1% to 13%. On the fresh sales, we see also a drop in Western Europe from 66% to 56%. This is mainly due to the changes in Eastern Europe, which goes up to 10% of the total and 16% of the Faroese sales. The VAP share in this quarter was 28% compared with 50% last year. A big change. The salmon price in the quarter was a bit up and down. Started around DKK 70 in the beginning of the quarter, dropped slightly, and then up to DKK 75. Then by the end of the quarter, in the end of the DKK 50s. Huge changes in the quarter, the average price year-on-year increased NOK 3.96 from NOK 59.36 to NOK 63.31 per kilo of salmon, and quarter-on-quarter from NOK 54.48 to NOK 63.31. On the next page, we see the development in harvested and sold quantity by region. The development in harvested quantity of salmon into the markets show an increase of 1% in the quarter. Volumes dropped significantly in Chile from 158,000 tons to 135,000 tons. This balanced out with the growth in other regions, especially Norway and U.K. Due to the big demand in the market, inventories were reduced by 27,000 tons in the quarter, compared with an increase of 16,000 tons in the same period last year. The difference in the movements of inventories is 43,000 tons, which is an indicator of the strong market. Average weight of harvested fish from two of the big suppliers, Norway and Chile. In Norway, the average weight of harvested fish was 4.35 kg, flat from last year, and in Chile, 4.4 kg. Slightly less availability of large fish. If you look at the markets, we see that the supply into the markets increased 9%. This is the inventory movements which caused this difference. We see that there is a strong development, especially in the U.S., which increased 22%. That's an increase of 26,800 tonnes of salmon in this quarter. Also, Europe, which is the largest market, increased 2%, Russia, 46%. We see it, especially by the end of the quarter and into the third quarter, some indications of lockdown in Asia, which has hampered the market by the end of the quarter and into the third quarter. We see also overall that the Chinese market has dropped in this quarter by 20%. If you look at the next slide, there is an overview of the expected development over the next couple of quarters. We expect a very tight market going forward for the next couple of quarters, overall drop of supply compared with last year, no growth. That's mainly due to the fact that in Chile, there is less availability of fish, less biomass, and that will cause a reduction of supplies from Chile. Even if European suppliers are increasing somewhat, the overall volume over the next couple quarters and also into the first half of next year will not increase, but be on the negative side of change compared with the year before. Tight market going forward. If you look at the segment information, we see in the Faroe Islands, the volume in Faroe Islands increased 36%, from 12,941 tonnes to 17,561 tonnes. The spread is 14% from north, 75% from west and 11% from south. The fish in Funningsfjørður harvested in this quarter was 9,800 tonnes, so that's the biggest single farm harvested this quarter. Came out 5.3 kg with very good numbers. This is a big positive impact on the numbers in this quarter. In Scotland, the volume increased also 34%, from 7,937 tonnes to 10,634 tonnes. This is spread on many farms. More than 20 farms harvested. The average weight in the Faroe Islands dropped from 5.4 kg to 4.9 kg in the quarter. This is mainly due to the fact that we harvested 4.1 kg in Vágar. We started a bit early to harvest due to the market conditions, and also that we have a lot of fish from this site for the second half of the year with limited harvesting capacity in the factory. The average weight in Scotland was more or less flat or 100 gram up from 4.4 to 4.5 kilos. The smolts transfer in the quarter in Faroes from 2.9 million to 3.2 million pieces, 8% up. In Scotland, from 2.8 million to 2.1 million, 27% down. The average weight in the Faroes increased significantly, 48%, from 286 g to 422 g. In Scotland, flat from 76 g to 77 g. The temperature in the waters here in the Faroes were more or less in line with last year, slightly down. If you look at the margin, we see that especially in Faroes, there is a huge increase from DKK 86 million to DKK 343 million, 300% up. The margin was 36% compared with 15%. The revenue 67% up from DKK 574 million to DKK 961 million. This is of course, mainly due to the fact that the price increased significantly. In Scotland, also increased margin, 84% up to DKK 53 million compared to DKK 29 million, and the margin up 9%, the revenue up to DKK 559 million. On the next page, there is an overview on the performance in the regions. In the Faroe Islands, the Key Performance Indicators have developed good in the quarter. The TGC, which is the growth on fish, was very, very good, 3.2 in average for all harvested fish, which is more or less the same as last year, stable on a good high level. The FCR, which is the feed conversion rate, improved compared with last year from 1.1 down to 1.03 in average for all harvested fish, which is very, very good. The cost in the Faroe Islands came slightly down, around DKK 1, which is the pure farming cost from last year. We fed the fish 18,500 tons in the quarter, feed use, which is 24% up compared with the same quarter last year. A very good biological development in the quarter with strong key performing indicators here in the Faroe Islands. In Scotland, we still struggle with small smolt weights. It will take time for us to increase the weight of smolts. If you look at the same Key Performance Indicators like growth, feed conversion rates, et cetera, we see that there is some improvements, 5% improvement on growth compared with last year. The TGC is 2.64. The FCR improved 4%, down to 1.11, which is very good. The farming cost dropped slightly, NOK 35 per kilo. The overall cost dropped more. The farming cost was NOK 35 or down. The feed consumption in Scotland was down, mainly due to the fact that we have reduced the biomass by the end of the quarter, down by 15%. We are good in line with our plans with integration. We are now using all the feed from or not all, but the majority of the feed is now from Havsbrún, which is creating a good operation both with Havsbrún and also for unharvested fish. We are aligning and simplifying systems, structure, practices to enable best practice. We are rolling out the so-called Fresh Approach integration strategy, which will simplify and strengthen our operations. I am confident that the smarter farming model that we try to implement will over next years show significant improvements in the operations in Scotland. If you look at the VAP, value-added products, we see a lower activity. There were high prices on fresh salmon, and we used this opportunity to improve the overall value for the company. The revenues in the quarter was down compared with last year, DKK 259 million compared with DKK 308 million. The volumes were 33% down compared with 16% down on revenues. The EBIT was 89% down from DKK 49 million to DKK 5 million. The operational EBIT, the margin, was NOK 1.13 per kilo, and the share of raw materials used for VAP was 28% compared with 50% last year. If you look at the FOF segment, we see an improved margin of DKK 57 million and a margin on 17%. This is mainly due to the increased activity in the feed division because we see that the raw material source for fish meal is significantly down, 52% down, and the external fish meal sold, and this is mainly from an inventories, is slightly up, 10% up to 2,961 tons. On the next page, overview on the feed. We see increase of 23% up to 27,272 tons. The majority of the feed is sold internally. The external feed sales decreased from 5,962 tons down to 856 tons. We see the market fluctuations on raw materials slightly increase in raw material prices compared with the quarters before. Now Høgni will go through the financials and the ESG. Thank you, Regin. As Regin has mentioned, the positive development of the prices have had a positive impact on our financials, but also the volume growth that we have seen in this quarter. Revenue increased by 43% to DKK 1,618 million in this quarter. The operational EBIT increased with 224% and amounted to DKK 407 million in this quarter. The main contribution is the Faroese farming segment, which has tripled its operational EBIT. Also a strong increase in the Scottish farming segment and some increase in the FOF segment as well. The VAP segment was, however, lower on operational EBIT compared to the same quarter last year. Fair value adjustments in this quarter were lower than in Q2 last year. It amounted to DKK 176 million. The main drivers behind that are changes in the size distribution and the biomass at sea, where we, especially in Scotland, have slightly higher time to harvest for the biomass. We paid DKK 41 million in this quarter in revenue tax and DKK 102 million in corporate taxes. The profit after tax was reduced from DKK 472 million to DKK 428 million. Operational EBIT margins increased from 16% to 25.2%. This was amongst our better quarters for many years. It's one of the strongest quarters that we have had over the past five years in terms of operational EBIT. The best second quarter that we have had since 2018. For the first half year of this year, the total operational EBIT amount to DKK 631 million. Adjusted earnings per share accumulated in the first half of the year amount to DKK 7.75. If we look at our balance sheet, which is still very strong, our intangible assets amount to slightly less than DKK 4.5 billion, and our property, plant, and equipment increased by DKK 329 million and amount to DKK 4,550 million. Our biological assets amount to slightly less of DKK 2.5 billion, and inventory increased by DKK 33 million to DKK 809 million in this quarter. Receivables have increased by DKK 129 millions to DKK 619 million. Cash and cash equivalents have also increased by DKK 86 million and now amount to DKK 553 million. Equity is slightly less than DKK 9.4 billion, an increase by DKK 667 million in this quarter, and equity ratio is 67%. Cash flow from operations in this quarter increased compared to the same quarter last year from DKK 111 million to DKK 532 million. Cash flow from investments were DKK -245 million, and cash flow from financing DKK -107 million. Net cash at the end of this quarter were DKK 179 million. If we look at the net interest-bearing debt, we have reduced the net interest-bearing debt by DKK 36 million throughout the quarter. We have made investments of DKK 245 million and paid dividend also in this quarter amounting to DKK 216 million. Our cash flow from operating activities have reduced the net interest bearing debt with DKK 448 million, and the same goes with changes in working capital, which has reduced with further DKK 49 million, so that we end up with a net interest bearing debt of DKK 1,903 million by the end of the quarter. We still have significant undrawn credit facilities. Our bank facilities are the same as the ones that we secured by the end of 2019. We have undrawn credit facilities amounting to DKK 1,523 million by the end of this quarter. On top of that, we have an accordion option of DKK 150 million. Finally from me, some main events on ESG that has occurred during this quarter. We have now published our fourth sustainability report. What makes this report special compared to previously is that it now includes the Scottish Salmon Company as well, so that we can increase the transparency across the entire group and provide a better picture of how we progress on the ESG agenda as a group. In this quarter, we also made some improvements in regards to the capacity that we have in the farming service operation in Scotland, as we acquired a sister ship of our farming supply ship here in the Faroes, Martin, which we use for mechanical delousing. We acquired the sister ship, and it is intended to be put into operation in Scotland. Is being equipped now with a new technology for mechanical delousing, which we have high hopes for, which we expect can improve the fish welfare even more and reduce mortality when we do mechanical sea lice treatment in Scotland. The ship is called Bakkanes and will be deployed in operation in Scotland soon. Finally, Havsbrún was recognized in this quarter with Best Aquaculture Practices certification, BAP, which is very important now where we supply increased volumes of feed to our Scottish operation. In Scotland, we are four-star BAP certified as the first European salmon farmer. Having Havsbrún BAP certified is an important step forward. With that, I will leave the outlook to you, Regin. The outlook for the global harvest of salmon in the market is very tight. We expect a reduction of global harvest in the third quarter, and also in the second half of 2020. The market is expected to be tight, especially from the supply side. When we look at our own operations, we expect 106,000 tonnes of total harvest for Bakkafrost Group, same as we have announced earlier. We expect to release 14.5 million smolts in the Faroes and 11 million in Scotland. On contracts, 31% of our sales for this year have been contracted. We have a strategy to allocate around 40% of expected volumes on contracts at any time. In Havsbrún, we expect to sell 120,000 tonnes of feed. It might be slightly more, depending on the growth in the second half of the year, but it has been good over the summer. The business development for Bakkafrost is focused on the growth strategy. The focus is to reduce the risk to secure a healthy and sustainable growth for the group. We see a lot of possibilities in our continuous journey. We will focus on our Capital Market Day, on our upcoming Capital Market Day on the 14th of September, where we will look into our plans until 2026 and go through the different options, especially with focus on these plans and investments and how we can grow our operations sustainably and reduce our risk. That will be the main agenda on the Capital Market Day, which will be shortly. With this, I will open up for questions. You have to unmute your microphone and then just go ahead with your question. Hi, it's Alexander Aukner from DNB. In terms of the smolt transfer, you're transferring substantially larger smolt into the sea at the moment. Could you make some comments on how the initial reaction has been in terms of sea growth? Yes. As you know, we have increased our capacity on large smolt significantly over the last couple of years. We see that now in our numbers. We have, in this quarter, nearly doubled the weight of the smolt. Some of the large groups that were transferred last year were harvested less than one year after transfer. So far, we have seen a positive impact on mortality, positive impact on growth, TGC, and also a positive impact on feed conversion rate. So far there has been a positive impact on all our KPIs and as expected, a reduction of the risk of our operations. Okay, thank you. Can you also make some comments in terms of your highest paying markets at the moment? Well, as you know, we try to differentiate our products and produce a salmon which is not with the lowest feed costs, but highest quality of raw materials in the feed. We try to, and need to market this fish as a premium in the market. In general we obtain a premium in the market, but of course it depends on the market conditions, how those are, and especially when during the COVID-19, this has had an impact. This was a lower impact in the second quarter, and as the COVID-19 effects are less, we see a positive impact on our availability to obtain a larger value on our sales in all markets. Okay, thank you. Final question from me. Can you make a comment on the working capital buildup in the second half of the year? How does that go too, Høgni? Okay. Well, we are building up some more biomass due to the fact that the fish grows more and we have more fish in the water. That's where we are building more working capital, especially. Okay, thank you. Anyone else? Hey, Christian Nordby speaking from Kepler Cheuvreux. I have a quick question on Scotland. In Q3 last year, you recorded extraordinary mortalities. How's the autumn looking right now for you in Scotland, and how is the cost side looking there, you think over the Q3, Q4 period? Well, this year we have not seen any of these issues as we saw last year. Hopefully everything will be calm going forward. Of course that's positive. The big change in Scotland will be when we are releasing the larger smolts. That is the big driver on the reduction of costs for our operations in Scotland, and that will take some time. We have, however, now stocked some fish in our new RAS systems in Applecross. There is some small improvements going to be seen next year, but the big change will be when we have the big capacity up running. We have broken ground now in Scotland for the RAS development. That capacity will start to be available in one and a half years from now. It will take another three years-four years before we will see the big game changer in Scotland. The costs in general are higher in Scotland. We focus on taking the low-hanging fruits. Some small changes, but not a big impact before these three years-four years. Thank you. On transport costs, you record in your presentation that they are still higher than pre-COVID-19 terms. Can you do something on improving them medium term, or what are you thinking regarding this year? I saw some news regarding chartering in an airplane and these things. Well, the costs on air transport are still high. The initiative that you refer to on the airplane is mainly that as you know, we have our own operations in the U.S. We see a significant possibility to improve the freshness of the product by harvesting fish today, supplying that fish into the market already tomorrow, and even with slightly lower costs than today. The impact will be mainly on, we think that instead of supplying three days old fish, we can supply 24 hours old fish, so more or less close to live fish into the market. That's quite important. We see also that with this initiative, we can reduce the CO2 impact from the air transport. We can halve the CO2 impact because as we have our operations on the other side, we can reduce the ice that we transport. We can reduce the traveling from Faroes by ship and by truck. We have calculated close to 50% reduction on CO2 at less costs and fresher fish. This is a project that we hope will have many different aspects. It works especially for the East Coast of the U.S. as we have our operations there and can manage the whole value chain with our own trucks and delivery directly to customers. Thank you very much. Any other question? [audio distortion] from ABG Sundal Collier here. You mentioned the improvements and potential for improvements in Scotland, but it also seems that the operations and performance at the Faroes is better than a year ago. Could this leave some potential for lower costs in the second half of this year, or are there other cost drivers moving in the other direction? Yeah. Well, in Faroes, we are in a good development with low feed conversion rate and good growth. Those numbers are quite good. We see also a potential that over the next year or two, as we will see the big effect from large smolt, that we can reduce the cost further, as the risk picture in general will improve. That should have some positive impact. In general, we have good numbers now in Faroes. We had also some issues last year. As you remember, we lost some fish. This year, we have not had any kind of incidents, and of course we should not. In Hvalba, we have upgraded and installed totally new equipment, and we have probably done the strongest farm that we have ever seen in order to mitigate that risk. That should move things in the right directions, but I would recommend that you keep the same numbers on the cost side in your calculations. Sounds good. Could you please add some details on the new mechanical delousing system that you are installing on the new supply vessel? Is it entirely new, or have you been using this system at the Faroe Islands? We are using it in the Faroe Islands as well. We are using the same technology in this boat as what we are doing in Faroes. This is actually also used in Scotland. We have results and people trained for this both in Faroes and in Scotland. We need more capacity, and we see also that in general, when we have our own people handling this kind of complex equipment, it is important that we use best practice and also the knowledge that we get from one farm to another. We hope that that can have a positive impact also in Scotland when we will start using our own boats instead of only relying on external boats. Okay. Thank you. Any other question? It's Alex Jones from Bank of America. Could you maybe comment on the feed division and how you think about the margin outlook into the second half of the year? Thank you. Yeah. I think that the biggest change right now in the feed division is that we see a significant increase of the operation. This is mainly due to the upscaling of production to our Scottish operation. As you remember, we had contracts in Scotland that we had to respect, and now these contracts are fulfilled. Now we see a significant uplift in the production at Havsbrún to Scotland, and that has a positive impact on the cost because the capacity utilization is much higher. That is, in general, positive for the cost side in the feed division and the utilization of the fixed cost there. The market outlook for raw materials in general are tight. It seems like costs are still high on raw materials. At the moment, our best guess is that they will remain on the same high level as they are at the moment. Our intention at the moment is to remain with the same recipe that we are using for our salmon, both here in the Faroes now and in Scotland the same, with a high inclusion of marine raw materials because this is one of the fundamental drivers for the superior quality fish that we provide with high omega-3 and the very healthy ingredients of raw materials from marine sources. Is that okay, Alex? Or anything else you want? Yes. That's great. Just one more question on the farming weights in the Faroes in the second half of the year. Do you expect to go back towards more normal levels? Or should we expect them to stay a bit lower than usual? Well, right now, we have slightly lower weights. We have a bigger biomass at the moment, and we are increasing the capacity here in the processing site in Glyvrar right now as we speak, so it's important that we also have some contingency on the processing site. We are doing that at the moment. The markets in the second quarter were strong, so we used that, but there will be, at least here in the Faroes, at least one site that we will harvest at lower average weight in the third quarter, which will impact the average weight in the Faroe Islands. Our strategy remains the same, that we want to produce large fish, and there will be larger fish from other sites. It is a bit up and down, and if you look at the quarters, there is a slight variation in the average weight. It's not a change of strategy, it's just that we have to adapt to the market conditions and, of course, the actual picture in the processing in our operations. Great. Thank you. Very good. Is there any final question, or are you good? Very good. Thank you very much.