Okay, welcome to this third quarter presentation by Dellia Group. Today we have the CEO, Jan, we have the CFO, Magnar, and we have the CEO in Norway also with us. The way we will do this is that Yvonne will go through the presentation, and later we will have the Q&A. You can submit your questions in the Teams function or send me an email directly. For that, I give the word to you, Jan. Thank you. Good morning and welcome to Dellia Group ASA third quarter results. Revenue this quarter, NOK 205 million, up from NOK 80 million last quarter. Year to date, Q3, NOK 485 million, up from NOK 185.9 million same period last year. Dellia are recognizing revenue when they are moving our products to the grocery store. However, the underlying factor driving the long-term growth and revenue in Dellia, our consumers are buying the products out of the stores. The reason for the increase in revenue this quarter relates to mainly three factors. The main factor is ROS, rate of sales out of the stores. We had increased rate of sales on all the products, meaning that our consumers buy more units from the existing stores. We added on around 20% more new stores in the quarter, also adding to increased revenue. However, the percentage of adding more stores is much less than the 156% increase in revenue. We also listed new products in the quarter, adding to the increase in revenue. Adjusted EBIT, and here we have adjusted the primary for IPO expenses around NOK 10 million, and adjusted EBIT, NOK 40.3 million versus NOK 7 million last quarter. Year to date, we have NOK 81.5 million adjusted EBIT versus NOK 8.8 million last quarter. The reason for the increase in EBIT relates to first, we improved our gross margin from 34% to 36% caused by optimized logistics. We increased number of bags per display, number of display per carton, so we can reduce number of container, which is part of Dellia's ongoing environmental focus. We scaled more volume, higher ROS, and scaling volume on a better gross margin simultaneously while we are focusing on controlling the increase in operational expenses as a result of higher activity, leading to the increase in EBIT. Let's look further on ROS, as I mentioned, as an important factor for understanding Dellia's growth. We have Nielsen IQ data here for Norway and Sweden, meaning the data for how many units the stores are selling. Here we have data for five major gross growth rate change, QWOP in both countries, NorgesGruppen and Rema 1000 in Norway, and Axfood and ICA in Sweden. We sold 3.2 million units out of the stores in this quarter versus only 1.6 million units out of the same stores last quarter. 8.7 million units were sold out of the stores versus 4.1 million same period, nine months last year. This is showing that we have a great product loyalty and a lot of repeat purchasing of the product. The only important observation is that Dellia products are often among the top 10 in the snack category in grocery retail stores. We belong to the dried fruit category, and the dried fruit category is a subcategory under snack. If you're looking at the whole snack category, we are often among the top 10 in that category. That shows Dellia's ability to compete in the traditional snack category and explains why we are more than doubling units sold in Norway and Sweden year to date. This is our market share data. First, we can look at the market share in Norway in the category named other dried fruit and dates. In that category, in the quarter, Dellia had a market share of 51.8%, up from 33% same period last year. In Sweden, we can look at the category dried fruit. In this quarter in Sweden, we had 23.9% market share versus 14%. Similar results looking on nine months year to date, September, in both countries. I think it's important to look on the category itself, and Dellia has a 50% market share in Norway. Let's look on the category, other dried fruit and dates, what happened with its category this quarter and year to date this quarter. From year to date, quarter 2024, it was NOK 298 million in this category. It increased to NOK 393 million year to date Q3 2025, where Dellia represents 74% of the growth in the category. Dellia is driving the whole category of dried fruit and dates in Norway. The same trend we see in Sweden. Here, the category is named dried fruit. The category was year to date Q3 2024, SEK 706 million, and it grew to SEK 882 million year to date Q3 2025, where Dellia in Sweden represented 69% of the growth in the category. We are driving the category. We can say that Dellia went into a low interest category as dried fruit, converted and changed the category into an endorsement category. I think it's fair to say we are expanding the category on dried fruit category. I want to show a little bit more why we are thinking so. In 2022, we made market research asking why people are buying our products. Specifically, we asked the question, if you were to eat more dried fruit, which product would you buy less of? The answer we got that time in 2022 was chocolate, potato chip, and sweets. We did another research this year with more than 3,000 participants, also with Norsk Touch, who did the first research. The answers are the same, that Dellia captures volume from the Nordic confectionery and snack market. This is a massive market of NOK 66 billion, and we are taking a step, driving and going into that category. If we capture 1% of that category, it is NOK 660 million turnover. If we take 2%, it is NOK 1.3 billion. I want to take a step deeper into understanding the company so you as an investor can better track our company and understand our company going forward. We have now seen that they have increased revenue. We have taken a large market share. They are driving a category. It's fair to maybe look at Dellia as a category innovator and a category challenger into snack. What pillars are Dellia standing on succeeding doing so? I think that we can see there's a new category in the grocery market in making. We are calling that category a better choice snacking category. There are four pillars that we are standing on in creating that. One is taste. Everything's about taste of the product. All consumer surveys show that taste is number one. Two, long-term strategic partnership with Keurig, our main supplier, and capacity. Three, product development and innovation. Last, developing good partnership with retailers and establish efficient marketing. Let's first look on pillar number one, which is taste. For us to deliver an endorsement and a taste experience to our consumer, we need access to high-quality, fully ripened fruit. On this picture on the left here, you can see a mango. We are working on dried fruit. We are working on drying it to perfection, meaning that we are aiming that our dried fruit products shall taste the same as fresh fruit. On the right side, you can see our Deepest product, where we are working to create a perfect taste balance between chocolate and dried fruit. In this case, we are using real chocolate, and the most healthy part of chocolate is cacao. Here we're using 60% cacao. We look on quality. We have an office in Shanghai with about 20 people, fully linked and integrated, monitoring our supply chain. All the batches we are exporting are being tested by third-party lab Eurofins. We come into pillar number two, where I mentioned that we are relying on having access to ripe fruit. The way we can do that is we are working long-term planning with, in this example here, Keurig. We're planning long-term ahead and enabling the factory to set up contract farming. This contract farm supports with a stable year-round and fair pricing and gives us access to high-quality ripened fruit. We come to the capacity. You can see from the picture in 2022 how the factory looked like when Dellia signed agreement and started cooperation with Keurig, and how we now today have together in partnership with Keurig and our team in China developed their factory, as you can see from the picture here in Q3 2025. We have expanded the factory now into 40,000 square meters, employing 3,000 local people in the harvest season and 600 people year-round. Furthermore, we are expanding the factory on the right, where you can see we have made space for the factory. Around the red circle, you can see the Ricksnell building. On the back of that, we are also now building another new building. All of that capacity and increase will come up to 50,000 square meters of buildings. Here we are producing our dried mango. We are also having the production line for our dates and pitting, automatically pitting of the dates. We are removing the stone with equipment and machinery automatically, as well as our new facility for flavored dates will be available end of this year. We're also doing the flavored mango here in addition to that. We also have our Deepest production facility. The factory has certifications like Global GAP for the farming, CEDEX, SMETA, BRC Food, and IFS. This strong partnership is not only ensuring supply for growth, but it is also true responsible and sustainable sourcing practices. This is a picture of our headquarter here in Oslo, in Oslo Science Park, where we have our food innovation lab. On the left side, you can see our new product innovation called Fruit Fusion, where we use mango as a base and adding some flavors, for example, freeze-dried strawberry powder on the mango. The last pillar is the partnership with grocery stores and retailers. Dellia is taking a holistic view on the whole value chain, starting with contract farming and fair trade and fair pricing, leading up to a factory where we have capacity and technology development, integrating with our team in China supplying equipment and machinery and ingredients, as well as we have our food innovation lab here in Oslo making innovation and taste panels for improving taste and developing new tastes and enabling also to have product innovation. The volume and innovation and sustainable sourcing, all of this leading up to the base for having strong partnership with retailers, and that is again giving us wide retail coverage and good placing in the stores. Finally, we can look a little bit on the numbers again. We went through revenue and adjusted EBIT. Here we have also the EBIT margin, the gross margin, as I explained previously. You can see that our EBIT without adjustment for this quarter is NOK 29.1 million, and year to date NOK 65.3 million. That is profit after tax this quarter, NOK 19.6 million, and year to date Q3 2025 profit after tax NOK 42.4 million if you did not adjust. That means we have paid for all the IPO cost over the running of the company. Here we are looking at revenue per operating segment. We have made a structure now for this quarter report. We also made a structure for this presentation, and we will keep that exact structure going forward so you can track our operating segments, you can track our performance parameters, and can benchmark. This is again for enabling all our shareholders and partners to look and understand our company. The performance parameters we are working on or presenting here are the same performance parameters our team are working on improving every day in the company. The operating segment here, we have the operating segment is per country. You can see that Sweden is our biggest market this quarter with NOK 62.1 million, followed by Norway and Denmark and Finland and then pan-Europe. Year to date, this quarter we have around NOK 163 million turnover in Sweden, NOK 136 million turnover in Norway, and NOK 130 million in Denmark. We have pan-Europe at NOK 10 million, which is the first year where we have income outside the Nordics. Asia so far this year is NOK 31.1 million. Asia is an interesting segment for us because, first of all, China, our office in Shanghai, is, first of all, the operational hub looking after the quality and supply chain and supply chain development. We also have direct export of private label of food and dietary supplements out of China, leading to NOK 31.1 million so far this year, which is a new business segment for the company that we started with in February this year. In addition to that, as we're writing in the quarter report, we have now successfully registered our brand of Sunshine Delight in the Chinese market. We are evaluating now how we can also look at utilizing the office for setting up sales on an e-commerce in the Chinese market. This is going through gross profit. Both gross profit and EBIT, we are then going to look at this as reporting segments. Here we are aggregating our operational segments into reporting segments. Our company has chosen three reporting segments, which are Nordics, which we look at as a home market, which is the profitable segment. We have pan-Europe, which is our new market development, which is currently losing money. We have Asia, which, as I just described, is our operational hub, direct export of private label of food nutritions and dietary food supplements, as well as potentially in the future, very soon, launching e-commerce and selling our brand in the Chinese market as well. This is our adjusted EBIT per segment. We went through that on the first slide, but you can see Nordics, as I mentioned, is contributing, of course, to the EBIT with NOK 66.7 million in the Nordics, where we are investing NOK 7.7 million so far this year in developing markets in Europe. Asia contributed with NOK 16 million also in EBIT. Here we are looking at our balance. This is our balance sheet where we this quarter year to date have assets of NOK 363 million. Mainly, we have current assets, which are composed of three items. It is cash in the bank, it is inventories, and receivables. We are quite a simple and easy company to understand. We have also non-current assets, which relates to our right of use of the office in Oslo Science Park, including our food innovation lab. We are financing these assets by mainly equity, which now is NOK 181 million this quarter, as well as short-term interest-bearing current liabilities, mainly through payables to factories, electric credits, which we are issuing more and more, as well as some overdrafts in the bank. This is our cash flow. We have free cash flow from operating activities, NOK 10.5 million this quarter. We're not converting the whole EBIT to free cash, meaning that part of the EBIT is still tied up in inventories and receivables. Here we are working on a new banking structure now, which we will come back to once we have completed that, and where we are working on having a larger part of electric credit financing our inventories at long credit times. We are planning to sell those invoices and the products and sell the invoices by factoring so we can get paid before the LOCs finance the inventories are due. If we succeed with that model in a good planning and good structure, we can aim for having a very high or try to have almost 100% conversion of EBIT into cash, meaning that our company gets cash that we can invest further for growing the company as well for maintaining our planned dividend policy. We are planning to pay 50% of net profits out in dividends twice a year. We are back here to the summary of the presentation. It will repeat a little bit what I just have said, that we are taking a very holistic view on this ecosystem, where we are starting with the farmer on contract farming and setting up good agreements and good planning so they can make money as well and invest in their farm, for example, irrigation, planting trees when the new trees need to be maintained and so on. We're working on capacity with the factory. The factory itself has a healthy good business as well, and then supplying up to the brand where we are developing that. Our aim here is, of course, delivering the taste, experience, and endorsement to our consumer. By doing so, lifting up contract farming, lifting up capacity, working on developing the brand, we are aiming for making a global brand expanding into Europe and China and the world. Thank you very much. Now we will look on Q&A. I haven't seen the Q&A, so I'm quite curious what it will be, but thanks, Dag. Are you asking them? Yeah. Thanks, Jan. We also have now Dag on stage, CEO in Norway. Jan We have received some questions. I think we can start with one regarding the distribution channel. In the report, you write that there is further upside in the Nordics through a wider distribution. Is it possible to share some insight on what you mean by that? You want to ask Doug or I? Wider distribution. I can explain that. I think what you're saying there is when we're starting partnership with a retailer, it takes time to reach the potential with the retailer. Maybe in the beginning, you maybe get a listing. For example, if you look on Europe, for example, we could take Morrison as an example. That's related to Nordics, of course. We started listing this year, but we are in one position, in one shelf, with one placement. There's a lot of opportunity to grow within Morrison. For example, they have smaller stores we might not be present in. They also have maybe potential for secondary placements in the store. That goes with almost every retailer we work with. We can work with them in a strategic way to work with them to make the most profitable square meter in the store. That's the target of AB4. We want them to make the most profitable square meter in the store. Maybe you start in one position, you can change that position, you can add positions, and so on. That is a year-long work of improvement. That's what we mean by wider distribution, more potential. We don't see that we have reached the full potential in the Nordics, even if you're covering all the stores. Perfect. Is it possible to give some insight on sales per category? I mean, the split between Sunshine Delight, Deepest, and Dates. I mean, have you seen a little bit on the growth, whether or not some of the categories are more exposed to a sold-out situation given your capacity constraints? Thanks. Yeah, we can also comment on that. Sunshine Delight, first of all, now we're doing a rebranding. As I write in the quarter report, we're doing a rebranding. We're making Sunshine Delight on all the product range. The classical Sunshine Delight range is, of course, as it was when we also did IPO, the biggest line. Deepest is a line which is accounting for maybe, I would say, 20% of company turnover now. It takes time to develop the capacity of Deepest. Deepest is where we work with dried fruit and chocolate for making a perfect taste balance. We're using real chocolate, 60% cocoa. We see great potential in that segment and launching more product in that segment. We are working on that. That is when we are doing a lot of expansion on the factory. We have capacity constraints, as I write in the quarter report, both in Q3 and Q4. There is not more capacity available for us neither this quarter or next quarter. I am writing in the report that we will have ease of capacity from January next year, meaning we have much more upside. As we also wrote in the report, we see a very positive outlook and a strong momentum for all the brands. The Deepest product has not been successful for our company. It was only a few% of revenue. We have to work and relaunch that under our new brand, Sunshine Delight. We will do that with a new way of producing the product, with new dates, new flavors. We are working very hard on that right now. We are setting up a new production capacity for that in Keirun. We have bought a lot of equipment and made a new factory production line for that. We will come back to that with a relaunch in the market and go back to the root where we look on real taste, high quality, and then go back and conquer also in that area. We have one question on the capacity increase that you just mentioned. Is there any risk related to delays, ramp-up, or that production capacity? That is also something we are working on every day, right? Yeah, of course, it is risk. risk. It is not completely straightforward. I want to actually mention that you can see that the picture and the presentation of what the factory looked like in 2022. You can see how the factory looked like now in the third quarter. To go from that small building, I mean, small, but expanding from that building to 40,000 and now up to 50,000 in February with 3,000 employees is a massive step forward. You need technology and equipment. You need engineering. You need training. We are working very hard with our team in China to transfer technology, transfer training, transfer equipment from Chinese manufacturers into Keirun together with their engineering team, learning and growing. You have to train workers. For example, for what we are now aiming for here is having 300 workers permanently working only on Deepest, fixed, right? We are training that work staff, recruiting and training workers to do that in parallel with we are building capacity and expansion. It's a complex process, and a lot of parameters need to fit. Yes, there's risk involved, but I think that we are good ahead now. I'm very positive that what we are writing here is that this will ease from January onwards. Perfect. I think that was the final question. If you have any closing remarks before we finish off? No, I think that's fine. Yeah. Thank you very much, everybody, for logging in.