Good morning, and welcome to the Quarter Three presentation for the DOF Group ASA. Together with me is Hilde Drønen, our CFO, and I'm Mons, also the CEO. This slide, DOF at a glance, shows a summary of what the DOF Group all around the globe. So we are an integrated service provider, delivering vessels, engineering, and execute projects globally. Control a fleet of 54 boats, operate from all continents, long history, backlog at NOK 22.3 billion, and a bit more than 4,000 employees. The graphs here show the development in revenue. Last five months, NOK 13.1 billion, so big step up compared to 2022. It also shows the historically EBITDA split between the segments. We will come back to that later on. The employees around the globe, you know, our biggest region is South America, with 1,800 people, and then it's split between Atlantic, APAC, and North America. Next slide is on quarter three, the operational and financial update. So another good, solid quarter for us in EBITDA, strong and improved cash flow. So we see a revenue of close to NOK 3.4 billion in the quarter, and EBITDA NOK 1,295. So and EBIT NOK 889. So happy with the quarter, good quarter, and a solid improvement, of course, from same quarter last year. Good performance on some subsea projects. In general, good performance in DOF Subsea. We have sold a boat, Skandi Neptune, and we also chartered in a boat called Skandi Explorer. So we have the number of vessels in the fleet are the same, but one less vessel owned and one more chartered in. Good order intake in the quarter, NOK 4.3 billion in the quarter, and now NOK 22.3 billion in total backlog at the end of the quarter. Fleet utilization a bit lower than what we normally have, so at 85%, but still delivering a pretty healthy operational result. And after balance, or we have bought three non-core PSVs from our lenders, and so after that, again, we have sold two of them. Yeah, so that's... We sent the press release on the economics in the purchase and in the sale. And then on the Skandi Explorer r, we have chartered in for 3- years, with 4-year options, and the first task is to support the newly awarded PIDF project in Brazil, so which will at least take two years to complete. On the segments, the subsea, subsea side, of course, is a bit more than NOK 1 billion of the EBITDA. Norskan, NOK 145, and DOF Rederi, under NOK 18. And Hilde will talk later about more about the numbers in detail later on. So to summarize, a decent quarter for the group, also in quarter 3. On the sustainability part, this is the same slide as always. We are very happy, we're happy to say to see is that there is zero LTI frequency, which is we are happy with. And, of course, that is what we strive for every day, to avoid any serious incidents with. So we work on that, and, of course, happy to see that we achieved that in this quarter. Then on the rest is the same as we have had in previous presentations, so I think I'll leave it like that. And you see yourself that we are highly recognized both for operation excellence and also our focus on sustainability, on emissions, on in all aspects of it. You can read it yourself, and we move on to the next one, which is showing what DOF is. So we are an offshore service provider. We own vessels, we operate vessels, and but we are also then a specialized service provider, subsea service provider, yeah. So we own a fleet of 47 vessels. We charter in seven, meaning we have a controlled fleet of 54. You see the market value is stable compared to last quarter at NOK 28.4 billion, and that is done after we have sold the boat. So we have had a small increase done on the rest of the fleet. We own 74 ROVs and AUVs, important equipment for executing the subsea services work. And then what we are selling, of course, is vessel time charter, but of course, the largest portion done in subsea are integrated services, long-term IRM scopes or shorter term subsea projects. Yeah. So that's what we do, and as you see, we have increased the guidance for the full year. So that is now up to $4.75-$4.85. And so it's up a bit from what we guided in second quarter. So I think we leave that slide like that. And of course, this is what's all about. Yeah, it's all about the people. I talked a bit about operational excellence, you know, on the ESG slide, sustainability slide. Of course, I also talked about on the previous slide, you know, the projects we are doing globally. And these are the people that do it, and of course, the value of the organization, you know, let's say, the margins we are able to produce on top of the straight assets, that's the people that are providing. Yeah, so it's a very high value in the global organization in offshore. And then a bit about the markets. Yeah, so in this presentation, we focus a bit, especially on Brazil and the markets in general are still strong. The offshore and subsea service markets globally, we see a high tender activity, you know, in you know, gradually, you know, continuously increasing rates on the margins and a lot of opportunities globally. Yeah, so, the trend we have seen the last few quarters have continued into quarter three, and it looks promising. But I'll have a few slide on Brazil later on and talk a bit more about that then. On offshore wind, of course, we have just opened an office. You know, we have ambitions on that, especially with the floating wind. Of course, that's a global market, so what we have done in this quarter is that we have opened an office in South Korea to follow that market and to position ourselves for work in South Korea, which we see as one of the first countries with the projects coming first within the offshore floating wind. We do quite a few studies and FEEDs for clients around the globe, but of course, the big projects are not expected to go offshore before 2027, 2028. So, but they need to be won and awarded a few years before that. So I hope to be into 2024 or early 2025, that we will see that we, we actually start to get awarded, projects in that space. And, and, and of course, floating wind is perfect for our fleet with, with the, the anchor handlers, you know, it, it's, it's more an, floating wind unit of FPSO is the same, is the same operations. Yeah. So, so, so we, we follow that closely, and we have ambitions in that space and, and, are trying our best to position ourselves in the right way. Then on, two slides on Brazil, because as you saw, Brazil is the, is the, the region that we have the largest, presence. We have more than 20 boats. We operate a big ROV fleet. We have more than 1,600 employees, and we have a track record since early for more than 20 years now. And of course, we have been brave in Brazil, you know, building a fleet, a unique fleet in Brazil with the most advanced anchor handlers, the most advanced pipe layers, and a very solid general CSV fleet. So it's we have a, I would say, very good, we are in a very good place in Brazil, and we think Brazil is one of the most exciting countries going forward as well. Yeah, so we see a lot of opportunities for further growth in Brazil. Then on one slide on, on, on the-... On the market, you could say, or, or, what we see of opportunities. And, and, the one on the left-hand side here is showing, it's a snapshot from the business plan of Petrobras, showing their need for vessels between 2024 and 2027. Yeah, so it's quite a big number, both in PSV anchor handlers and-- but also then in the pipeline PSVs, and RSVs, and PSVs, and so on. So it's -- So we see steady growth in Brazil. At the moment, we are, you know, working on a few tenders, very interesting tenders. Perhaps on top of list is a new pipeline tender going in the next week. And of course, where we are offering quite a few boats and, of course, three- to four-year contracts. So could build, if we are successful, that they're gonna be, you know, building a big backlog well into the future. Yeah, so we gonna talk more about that in the quarter four presentation. Of course, when we see how that pans out, but we are very excited about that tender and look forward to that. Yesterday, we bid a few boats on an anchor handling tender in Brazil. And also, of course, we'll share more information on that going forward. And then we are waiting for a new RSV tender to be delivered later in November. So, quite a lot of opportunities as we speak, and of course, both within pipe layers, anchor handlers and RSVs, we think we have a decent position to take our fair part of it. Then it's a slide we have borrowed from Clarksons, and this slide shows the graph here shows, you know, the backlog for the tier one subsea players, EPC players, and then it also shows the number of vessels they have in their fleet. The gray is the number of vessels, and the blue is the backlog. Yeah, so, short version here is if you compare to, to, you know, the 2013, 2014, the backlog and now, the backlog is the same, but the fleet they have is 20 per-- you know, is, is, at least short, close to 30%. Yeah. Of course, what we see in the market now is, is that they have less capacity. They, they, they will, as we see it, need more boats. We see it already that they, they share, let's say, scopes, awarded to tier two players, you know, not only boats, but full scopes. Yeah. We see, especially then, 2025, 2026, we, we think there will be, you know, a, a, a very strong demand for, for subsea assets, from the tier one players. Then on this, this is just showing the development, let's say, through the cycle on, on 2 typical vessels, subsea vessels, and to see pre the oil crisis, and post the oil crisis, and through the oil crisis, and you can study this in detail. But it shows that, if you look, compare first half 2023, the EBITDA on the blue EBITDA, which is from the vessels, is back to pre-oil crisis. And then, in the meantime, we have added, you know, built the subsea services. We also now making good money on the subsea services side, so the project margin side, that we didn't have before the downturn. Yeah. So the market is back, and we have built a business that we are able to actually make good margins on top of what we did in the booming times of before the oil crisis. This is the backlog. So I mentioned the total amount, 22.3. We see, you know, the visibility for quarter four is high, so there is around NOK 3 billion in the backlog. And I guess we had a bit—our turnover was around NOK 3.3 billion in quarter three. Yeah, so it's almost sold out, yeah. And then for next year, we have around ±10 billion in the book, and I would guess that's around ±70% of the expected revenue next year. Yeah, so it will be a decent strong end to 2023 and also 2024, then you know, a very good starting point for 2024. And of course, we expect to continue to build the backlog for 2024 going the next few months as well, of course. So all in all, optimistic for the next quarter and the next year. And of course, this is a slide showing what we have of, let's say, legacy contracts, pre-downturn. What we have of downturn contract, which is, of course, very low margin, and what we have on post-downturn. Yeah, so and of course, this is also what you see in the numbers. You know, they are gradually improvement in EBITDA, of course, terms for because we are done moving assets gradually from old contracts to newer contracts. And as you see, that trend will continue going forward with let's say, with the old contracts gradually being less and less important in the- on the earnings side. Then I leave it to you, Hilde. Please, Hilde. Thank you. As you can see, our revenue is growing. The third quarter of 2022 was actually a quite strong quarter, where we achieved an operational EBITDA of NOK 1 billion. But as you can see, third quarter this year is even better. It's slightly below the quarter that we achieved in the previous quarter this year, which was record high. And again, we have a strong operational performance, especially in DOF Subsea, where we have very strong performance on certain project. But we also see stable and good operations, both in DOF Rederi and the Norskan segment. There is a small gain on sale of assets, and that is actually the sale of Skandi Neptune. This vessel was actually agreed sold in 2021, but due to a contract that she had to complete before we could deliver the vessel, then the sale didn't happen or delivery didn't happen before this year. So what you see here is just part of the gain from the sale of this vessel. The other one is booked earlier. The Skandi Búzios incident has not had a big impact on the P&L this quarter, due to the loss of higher insurance coverage. We do not expect these vessels to become off hire before late second- On hire. To come on hire before late second quarter 2024. On the depreciation, it's higher than previous year. That's due to more vessels. We have taken over Skandi Hera and Skandi Darwin during second quarter. There has not been any need for neither impairment or reversal of impairment this quarter, but we do see that the value of our fleet is increasing. We have a lower interest cost that's basically due to a lower debt and reduced margins on the refinance debt in DOF Subsea and DOF Rederi, the same as we saw in the last quarter. And we have an unrealized loss due to a weak Brazilian reais to U.S. dollar. So that gives a net profit of NOK 338 versus NOK -412, same quarter last year. On tax is 53 versus 71, and this quarter, we have paid approximately NOK 60 million in withholding tax, and 215 year to date this year. If you look at the segment, as mentioned, it's DOF Subsea who is outperforming, and if you see at the EBITDA, it goes from NOK 800 million to NOK 1,036 million, and that's also reflected in, in the revenue. So that reflects the high activity, especially on certain project in Brazil and in the Atlantic region, the same as previous quarter. But we also see a high and increasing activity in the North Sea, partly due to the Guyana contracts, but it is also quite busy on, on other project that this region is working with. And we also see improved performance and activity in the Asia Pacific regions. DOF Subsea has achieved utilization close to 90% this quarter. Looking at Norskan, the EBITDA has improved, and eight out of nine vessels have been working on firm contracts. During the year, this company has been impacted by mobilization to new contracts, and also partly this quarter, and also the fact that one vessel has been partly idle due to a low utilization in the short-term market in Brazil. But early September, she started on a firm contract at good earnings in this region. Norskan only have a margin of 24%, but that reflects that this company is the vessel manager for the entire fleet in the group. That currently counts 21 vessels, but will be 22 very soon. DOF Rederi, a good performance, especially on the PSV fleet that has operated in North Sea spot market. A bit more variable for the anchor handler fleet. It has been impacted by three RSV vessels that has been partly off hire or mobilizing to a new contract in Brazil. These vessels will be fully committed in fourth quarter. So here we achieved a utilization of 86%. So all in all, a significant improved EBITDA for DOF Subsea and slightly better than previous quarter for DOF Rederi and Norskan. If you look at the cash flow and the operational cash flow is strong this quarter, NOK 1.45 versus NOK 924, versus last year, and NOK 2.9 year to date versus NOK 2.2. This is typically seasonal variations and also the fact that by end of last quarter, we have a lot of project that that was completed and ended, and the trade receivables has been impacted by that during this quarter. But it does reflect a high activity in the group. The net interest is significantly higher. That used to standstill agreement in 2022, and taxes paid as more or less the withholding tax paid on contracts in Guyana and West Africa. Sale of tangible assets, that's the delivery of Skandi Neptune. And purchase of tangible assets, that's normal class dockings, and you also see that purchase of contract cost, that's pretty high, and that's mobilization on new contracts, especially in Brazil. What's also worth mentioning is that we have paid NOK 500 million on our debt, which is normal amortization, and it also include amortization on the new loan facilities. Paid out non-controlling interest, that is actually the purchase option for exercising the option of the shares in Iceman done in July. And there is also a share issue, which is the green option that was done in July, and a dividend, there was paid a dividend to from DOF Installer to the shareholders. That was paid in July, so that's what you see here, is the impact paid to the minority shareholders in this company. So in all, the cash by end of the year is close to NOK 4 billion. Included in that is restricted cash, mainly in DOF Subsea. If you look at the balance, it's no big events this quarter. So of course, 1 vessel sold, nothing much on the deferred tax assets. That's mainly for the Brazilian activity. And the non-core assets, that's basically include lease of vessels, and that's and prepaid contract costs and a tax claim in Brazil. The lease of vessels, we also have a debt because we are hiring in three vessels on firm contracts. That's booked as debt in the group balance sheet. The cash position has increased due to good operational cash flow, and as I said, part of that is restricted, and that is approximately, slightly below NOK 1 billion. The equity is increasing, and the main event here is the Green Shoe option, but the option on the shares announcement is also booked against the equity. Yeah, the net changes in the non-current debt is normal amortization and currency impacts. On the current portion of NOK 1.6 billion, that include the next twelve months amortization of the debt, but it also include the full debt in Skandi Iceman of NOK 230 million. This debt has been refinanced and has been drawn this month. The first debt maturity is from 2026 and onwards, and I will come back to that. Here you see the debt overview. This is a graph that we have shown earlier, and as you can see, we are financed into four silos. It's the Norskan, DOF Rederi, it's DOF Subsea, and DOF. And if you assume a stable EBITDA based on our guidance, we see that we can accelerate the debt faster than the normal amortization. What's important to see here is that is the last column, and it's what you see in light blue. That is the debt that comes due first in January 2026. It's approximately NOK 4 billion. There are cash sweep in three of the silos, but not in DOF. The DOF debt matures later than 2026, and the majority of the debt in Norskan matures later than 2026, and I think the last facility is due in 2023. So what you see here in dark blue and light blue are long-term debt. If you go to next, then we see the terms of this debt. The first one is actually the remaining of the bond loan, which is slightly below NOK 800 million. That matures by end of 2026. 7% is peak interest, and it's the same terms as the refinance facilities in DOF and DOF Subsea, meaning 2% in margin. On Norskan, NOK 4 billion of the debt matures in the period from 2029 to 2023. And that has a fixed interest during the entire period. And the last one is DOF, that has not been part of the restructuring, and that is a normal amortization. It's mainly BNDES and Eksfin at fixed rate. So in other words, we don't see that this group has a refinancing issue on the first maturity. Here you see the historical performance of the group, and the margin has been actually quite stable, even though the market was very difficult through 2018 and 2019. But it's we are closer to 40 the last three years than earlier. And of course, what's worth mentioning here is the big impact on the equity, which is after the restructuring, and also the big impact on the non-current debt versus the current debt. So the net interest and net debt by end of the quarter was NOK 14.5 billion. This is also the same slide as we showed on the second quarter, but what has changed here is that we have increased the EBITDA guidance, and we also see that the EBITDA, the last 12 months, is NOK 4.8 billion. The interest rate has increased due to increased floating interest, so that has slightly increased, and the scheduled repayments are the same, and also the maintenance CapEx. So with this assumption, we see that there is cash available to accelerate repayments through cash sweep. And as I said, there is cash sweep mechanism in most of the silos, except for the DOF facilities. This also include the impact on the acquisition of the Hera and Darwin, and also the Skandi Iceman, which is now refinanced as a normal loan from November. Thank you, Hilde. Then we are on the final slide, and that is the outlook, and most of it has been said previously in the presentation. But as we said, we have updated the guidance to NOK 4.75 billion-NOK 4.85 billion for 2023, and we do that, of course, based on strong year so far and good visibility and backlog for quarter four. Then after that, we have good visibility for 2024. We have high backlog as we saw, most of the backlog has been won post the downturn, and the markets are active. I will call it very active, and we see positive developments in rates, margins, and also, as we mentioned, asset values. I would say that is more or less globally in all segments and in all areas. Yeah, so I think we leave it like that, and thank you very much for listening to us, and have a nice day and a nice weekend when that comes. Thank you very much!