Good morning, everyone, and welcome to our 3rd quarter presentation. I'm Marianne Fulford, CEO of Kid Group, and with me is Mads Kigen, our CFO. Please feel free to post questions in the chat, and we'll answer as many as we can at the end of the presentation. And then let's talk about 3rd quarter. We delivered a strong period with solid growth across both Kid and Hemtex. Group revenues increased by 12.3% and reached just over €1 billion. Brilliant in Q3. The commercial performance was strong, with broad-based growth across segments and categories. Growth was supported by more transacting customers in our physical stores and strong seasonal assortment. Good product availability allowed us to meet customer demand and support our campaign throughout the quarter. Last year, limited product availability affected sales in our store due to our new Nordic warehouse. Even adjusting for last year's out-of-stock impact, we continued to outperform the market in 3rd quarter, which we are very pleased with. We deliver a strong gross margin and a solid growth in EBITDA, up 38.5%. OPEX decreased by 0.6%, and Mads will, of course, take you through the details later. So overall, we are pleased to see broad-based growth combined with operational improvements. Warehouse operations were stable. Productivity was high. Both segments delivered strong results. OPEX was tightly controlled, and cash generation was strong. So let's take a closer look at the operational highlights. Upper category development continues to be an important driver of customer traffic and sales growth across both Kid and Hemtex. During the quarter, we saw broad-based growth across all major categories. Bed linen, bathroom products, duvets, and pillows performed particularly well. Selected permanent low-price products across major categories performed well and supported customer traffic. While we have strengthened our offering at lower price points, we continue to see growth across both the premium segment and value segment. Our autumn assortment also had a strong quarter. Product arrived earlier, and assortment renewal together with strong customer demand supported sales across all categories. New categories introduced since 2022 grew by 28%, and we're pleased with a quarter of solid growth across both our core and new categories. The development across our sales channels also needs a little context. Physical stores delivered strong growth while group online revenues declined. Please bear in mind, last year, limited product availability in stores shifted more demand online. With good product availability in our stores this year, the comparison between channels is different. Overall, we're pleased to see growth across both brands supported by our assortment and more customers shopping in our stores. And before I move on, I'd like to take a moment to talk a bit more about our seasonal assortment. We see our seasonal assortment becoming more and more important. They drive sales through higher volumes, and they drive traffic by giving customers a reason to visit our stores more often. to discover. Seasonal products encourage impulse purchases, and customers know that if they want to get a hand on the season's favorite, they can't wait for a promotion campaign. These collections are only available for a limited time, and once they're gone, they're gone. We always place our seasonal collections at the front of our stores, and this keeps our entrance area new and inviting, with frequent changes that give customers something new This strategy drives increased traffic into our stores. The season's colors and patterns bring collections together across almost all our product categories and therefore support growth. across all of them. Through 3rd quarter, we once again saw a solid growth in our seasonal assortment, both due to earlier product availability and a strong commercial assortment. Our warehouse operations are back on track. and remained stable throughout the quarter. Product availability was good and the flow of goods to our stores was reliable and efficient, supporting strong sales development. Operational efficiency improved compared with last year, reflecting higher productivity. We continue to work on our processes and see even more opportunities for further improvements over time. Regarding the Norwegian warehouse, temporary sublease agreements still cover approximately 65%, while we're working on a long-term solution. Our system modernization is also progressing according to plan, and during 3rd quarter, our work continued with a lot of testing and development of the remaining solutions. We are planning less implementation activity during the important 4th quarter. The priority is now very easy: stable operations and keeping our teams focused on customers into peak season. The European online pilot is also progressing following the launch of hemtex.de in Germany in 2nd quarter. We are continuing to learn, about our customers, assortment, and pricing. And our approach remains gradual with limited investments and financial risk as we build experience. And store portfolio development continues as well. We completed 2 store projects during the quarter, and we have a substantial pipeline of signed projects and new stores going forward, and I will return to that. Later. So now, Mads, will you walk us through the financials? Thank you, Marianne, and good morning, everyone. Let me take you through the financial performance and the key drivers for the 3rd quarter. Overall, the 3rd quarter represents a strong commercial and financial development for the Kid Group. We have strong revenue growth across both segments, a positive gross margin development, good cost control, and significantly improved profitability. Group reported revenues increased by 12.3% to above $1 billion in the 3rd quarter. In constant currency, the revenue growth was significantly stronger at 15.2%, compared with 0.5% in the same quarter last year. Like-for-like revenue growth increased by 14.6%, including online sales, compared with a decline of 1.7% last year. So overall, the underlying revenue development was robust. It is worth keeping the comparison base in mind when looking at the strong growth this quarter. Last year, we estimated a revenue shortfall of approximately €30-40 million in Q3 due to limited product availability. We estimated a similar absolute impact in the 4th quarter last year. However, the 4th quarter is a significantly larger quarter meaning that the relative impact was materially higher in the 3rd quarter. So part of the strong year-on-year growth this quarter reflects normalized product availability and softer comparison base. The normalization of product availability is also reflected in the channel development. Physical stores delivered strong growth, while group online revenues decreased by 4.1% in constant currency. Last year, limited product availability in physical stores shifted part of customer demand towards the online channel. The online comparison is therefore particularly strong, with group online revenue increasing by 26.3%. in the 3rd quarter last year. Looking into the segments, Kid Interior delivered revenue growth of 14.3%, with a like-for-like growth of 13.5%. Online revenues in Kid Interior broadly— was broadly stable and increased by 0.5%. Hemtex also delivered a very strong quarter. Where the reported revenues increased by 8.7%. Currency continued to have significant translation effect on the reported figures. Measured in constant currency, revenues increased by 4.5%. 17%, with a like-for-like growth of 16.6%. The online revenues decreased by 10.6%. Also note that the Hemtex online figures include sales from Germany following the launch of Hemtex during the 2nd quarter this year. Overall, The revenue development was broad-based across both segments and all major categories. We saw a particularly strong development in bed linen, bathroom products, duvets and pillows, and also was supported by autumn assortment, which performed very well. This was driven by earlier product availability, assortment renewal, and strong customer demand. So, the key takeaway on the revenues is a strong underlying commercial performance across both segments, supported by normalised product availability compared with last year. At the same time, the soft 3rd quarter comparison base is important to take into consideration when assessing the year-on-year growth, as mentioned. Moving on to gross margin, the group gross margin increased by 0.5 percentage points to 62.3% compared to 61.8% last year. Kid interior gross margin remained unchanged at 61.6%, while Hemtex increased by 1.4 percentage points to 63.4%. For Kid Interior, the margin was positively impacted by favourable currency effects. This was also offset by higher discounted sales volumes compared with last year, reflecting a more normal level of product availability. this quarter. So importantly, this does not reflect a change, a structural change in our campaign plan. The margin was impacted by the available volumes of products. The margin was also negatively impacted by higher sales of pink ribbon pins compared with last year. For Hemtex, the margin was also positively impacted by favourable currency effects. In addition, Hemtex benefited from a temporary positive Seknok impact. effect in the cost of goods sold, reflecting favourable currency hedge rates. This is a temporary benefit which will gradually normalize as more recent exchange rates are reflected in the cost of goods sold. Overall, we are pleased with the gross margin development. And the gross margin for the group of 62.3% is a strong level. Please note that the quarter includes favourable currency effects, including the temporary Seknok benefit in Hemtex. Finally, when assessing the current margin level, it's relevant to keep in mind our long-term financial objective of maintaining gross margins in line with levels achieved over the past 10 years. Moving on to operating expenses, the reported OpEx was broadly unchanged compared with last year, decreasing by 0.6%. While revenues increased by 12.3%. As a result, the OpEx-to-sales ratio improved significantly to 46.2% compared with 51.9% last year. In constant currency, employee benefit expenses increased by 15.9 million, and the main drivers were general salary increases, higher bonus accruals, reflecting the strong performance this quarter. And as well as higher personnel costs in the logistics. Looking at the logistics, there are 2 effects to keep in mind. First, we have increased the share of permanent in-house employees and reduced the use of external workforce. This shifts costs from the other OpEx to employee benefit expenses and therefore changes the cost mix between the 2 lines. The underlying operational efficiency has improved significantly compared with last year when the warehouse was still in the transition and ramp-up phase. Other operating expenses decreased by 7.1 million in constant currency, mainly reflecting lower logistics costs. And lower online distribution costs, partly offset by higher marketing activity. Currency effects reduced the reported OpEx base by approximately 10.9 million compared with last year, primarily reflecting SEK/NOK translation effects. It is worth noting that the Norwegian krone has strengthened by approximately 7% against the Swedish krona compared with 3rd quarter last year. This has also a translation effect on both Hemtex revenues and cost when reported in NOK. Finally, Q3 was Q3 last year was impacted by non-recurring warehouse-related cost and inefficiency. We estimated approximately $15 million of non-recurring items in the 3rd quarter last year, excluding rental costs. This is relevant when assessing the year-on-year development in OpEx. Overall, we are pleased with the cost development reflecting increased efficiency combined with tight cost control. Moving on to EBITDA. The EBITDA increased by 38.5% to €283.5 million. The improvement reflects strong revenue growth, improved gross margin and tight cost control supported by improved operational efficiency compared with last year. Overall, we are pleased with the strong profitability and operational leverage delivered in this quarter. Cash flow from operations was strong at €261.8 million during the 3rd quarter. This development was supported by strong operating result and working capital development. Inventory increased during the quarter as we prepared for the important 4th quarter and Christmas shopping season. However, the negative cash flow impact from inventory buildup was lower than last year. Cash flow from investments mainly reflects investments mainly related to store openings, store projects, and IT initiatives. Strong operating cash flow also enabled us to reduce our financial debt going through the quarter. The cash flow development in the 3rd quarter follows a normal seasonal pattern of our business. Overall, we are pleased with the strong cash flow. development in the quarter. Moving on to our financial position. Cash and available credit facilities amounted to 436.3 million at quarter end, providing financial flexibility for Kid Group. The net interest-bearing debt excluding IFRS 16 decreased to 963.7 million compared with last year, all above $1 billion. The gearing ratio improved to 1.6x compared with 1.96x last year. The improvement reflects the strong cash generation and debt reduction during the quarter. Overall, we consider the Group to have a satisfactory financial position and sufficient financial flexibility. Finally, on dividend, the Board of Directors has decided to pay a half-year dividend of 2.75 NOK per share. As a prepayment for the fiscal year 2026. This compares with 2.50 NOK per share in November last year. Following the Q4 results, the Board will propose the next half-year dividend to the Annual General Meeting in May 2027. The dividend payment reflects the strong financial performance and cash generation, while maintaining a disciplined approach to capital allocation. And financial flexibility. The proposed payment dates are shown on this slide. And with that, I will hand the presentation back to Marianne for an update on the store portfolio and the outlook. Store portfolio development continues to support growth across both Kid and M-Tex through refurbishment, expansion, and relocations. And we will continue this work as an important part of our growth plans going forward. During the quarter, Kid completed 2 store projects, and at quarter end, contracts had been signed for 3 new stores and 6 additional store projects in Norway. Last week, we opened a new store by the National Theatre in Oslo, where we are testing a new city concept with a different store design and more tailored assortment. So I would recommend those of you living or working nearby to have a visit. Hemtex did not complete any store projects during Q3, but at quarter end, contracts had been signed for 2 new stores in Sweden and 11 additional store projects. Across the group, that gives us a pipeline of 17 store projects and 5 new store openings going forward. So, looking ahead, our main commercial focus is the upcoming Christmas season, of course. Good product availability, supported by reliable warehouse operations and high capacity to serve our stores, puts us in a strong position ahead of peak. Season. We will continue our work to further improve efficiency and productivity in our warehouse going forward. System modernisation will also progress according to plan, with lower implementation activity during Q4 to support stable operations. Through peak season. Freight rates stabilised during Q3, following the increases in the first half of the year. Though we will continue to monitor developments closely, and we do not expect any material delivery disruptions at the moment. We will continue our gradual European online expansion, building on what we learn from the pilot. And most important of all is our focus on commercial execution through the important Christmas season. We are pleased with the development in 3rd quarter, and now it's all about building on that momentum and giving customers plenty of reasons to choose Kid and Hemtex this Christmas. And with that, I think we're ready to open up for a Q&A. So, the first question here from Håkon Fugle. Thank you for taking my questions. Can you comment on the temporary hedge effect? for Hemtex and the impact on the gross margin uplift this quarter? I think I can start on that, Marianne. So, Hemtex, they benefited of the favorable historical and hedged SAKNOK effect this quarter. reflected in the cost of goods sold, and that's been in effect in 2026. This supported the margin this quarter and will also support the margin going forward before the effect will be smaller and due since it's temporary. But we do not quantify the effect. The second question is, how has trading in October and into Black Week been relative to Q3 run rate? And has the online decline started to normalize? Will you take that, Marianne? Yes, I can take that. It's an easy answer. We cannot tell or say anything about October. So I think you have to wait for Q4 results. And the next question, you have added 3 new stores since Q2. Can you comment on how your new store pipeline is developing? Yeah, I would like to say that project activity. Yes, next question, some OpEx, and I can take that. Congrats on the strong quarter. OpEx-to-sales ratio came in good. What drove this sharp decline from last year? Is this a level you see normal for the quarter going forward? And the improvement is a combination of a strong revenue growth. We had 12.3% in reported currency and 15.2% in constant currency. In addition, we had a comparison base last year with genuine operational efficiency improvements this quarter. which quarter projects and new store openings land is quite random. We take the opportunity when it's there. So in 3rd quarter, you can see activity is quite low, but going forward, there is a lot of projects in pipeline. So except from extended, where we have done the rollout in Norway, the project activity going forward will be, yeah, more or less at the same level. And we hope that we can do more openings of extended stores in Hemtex Sweden going forward. So yeah, I would say that Q3 is more a random low. So the currency impacted the OpEx with close to 11 million this quarter, but most importantly, the non-recurring items last year. together explaining the improved margin, where we now report 46.2% compared to 51.9% last year. And going back to Q3, 2024, we reported 46.5%. So we are more on the normal level or what we have seen historically. Is. Um. Next question. I saw some with system modernization. You comment what you work towards further efficiencies in system modernization. Can you give some more insight on what we can expect here going forward? Yes, we have been explaining quite a lot regarding our system modernization project. Over the last 2, maybe 3 years in our last presentations. We are at the end of our system modernization. This year we have been rolling out new point-of-sale POS systems in all our stores before peak season. We have employee new employee systems implemented. We have done a lot of system modernization for supply chain and logistics last year. So we are in the very end of the system modernization, and as we explained, in 4th quarter we will do next to nothing except from testing. And we will focus on peak season and going into 2027, we are planning to finish the last part of our system modernization. But as I've said before, system modernization never ends. Now we have a good platform that we can build further on. Going forward. Yeah, I think that's more or less it. Next question about the Germany launch in 2nd quarter. What must be in place for you to go ahead with a broader rollout in Germany? What is the timeline you see here? Yeah, at the moment we have opened the hemtex.de and are doing a pilot online, we have a lot of time using on learning and gaining experience. We are planning to open.com before the quarter end, not the quarter end, but before the year end. If you ask about the timeline and if there will be physical stores, the answer is I don't know, we will use time on learning before we go further to consider physical stores in Germany. So I would say that it's more about years than months when we are talking about geographical expansion and physical stores outside the Nordics. That is clear. Related question to Germany from Ole Martin Westgaard. Can you give an indication of the German online revenues and marketing spend so far, and what milestones would you make scale-up investments in 2027 versus keeping it at a pilot level? I think you already answered the timeline. Going forward, I can give some more flavor on the income or revenues and cost side. This quarter, we had 1.1 million in revenues and 3 million in costs, primarily marketing spend and some last-mile distribution costs. And it's aligned with our business case and what we have planned for. Yeah, and it's easy to say that this pilot, a European expansion pilot, is something we are doing on the side of our core business, and it's very important to understand that our focus is always core business. Yeah, and we use the time that is necessary to explore. Okay, some more questions here. Will in-store product availability in Q4 be impacted by the point-of-sales implementation? As last year. No, we do not expect any disruptions in-store regarding systems or supply of goods. In, uh, 4th quarter. No. Um, Let me see here. Freight rates rose in first half of 2026 and then stabilized in Q3. Have the higher freight costs in first half shipments already passed through COGS, or will they mainly hit Q4 and first half of 2027? As the goods are sold? And I can answer on that, that the increased freight rates is in the cost of goods sold for the goods to be sold. in Q4 and going forward. But the rates has declined or stabilized, and we are comfortable with the level and will— we do not comment on any other figures going forward. Rather, we reiterate our financial objectives. We deliver margin in line with the past 10 years. Um. Are you satisfied— there's more cost and OpEx questions. Are you satisfied with underlying cost development after adjusting the extraordinary logistic costs incurred last year? and the FX tailwind this quarter. Should we expect this underlying development to continue? I can start and you can fill in, Marianne, if you would like to. We are satisfied with the development. We had higher increase in the first half And now it's the third quarter last year was impacted by the peak inefficiency in the warehouse operations in addition. We had also more not favorable kind of distribution to our customers. And we had also some deliveries to be sent directly to our customers on the e-com side and not through our own store network. So it has been different factors last year. The non-recurring items— still bear in mind that The rental cost is still as reported, the additional rental cost reported as a non-recurring item last year, as we have said earlier and in the Q4 presentation. The cost will be recurring in the OpEx base going forward until we have concluded on the premises and the warehouse in Norway. So now we have 65% on the sublease for the Norwegian warehouse, but we have the cost 100%. And we have the sublease income in the other operating income. And if I should comment about the cost and OpEx, we are especially happy with this, where we have went from transition and ramp. up in our warehouse last year to working with efficiency and increased productivity through 2026. So we are very pleased with what we have achieved in our warehouse operations during 2026, and also happy seeing that there are more efficiency to gain going forward. So at the moment, we are working on small tweaks That all together will increase even more efficiency going forward. And this quarter, we have the non-recurring items and the inefficiencies, they are gone. But now we have increased marketing spend as a positive cost. We have bonus accrual in our books due to the performance year to date. So it's more activity-based and positive. cost elements compared to what we saw last year. And if you adjust the OpEx base from last year with the 18 million as reported, in addition, you also adjust for the currency effect, you see more— and a development of closer to 6%. But as I said, part of the 18 million is still in our books since we have not concluded the premises in Lier. I think we start or we are close to answer Most of the questions, there are some of the same topics, and I think we covered both the margin, the revenues. And the OpEx. We have one more, Marianne, for the warehouse. I think we can go out on. What has changed operationally in the warehouse compared to last year? You have already answered that. Yeah, it's more or less what I already answered. It's about going from ramp-up to efficiency and operational efficiency. This year. So we are in a totally different place regarding the warehouse in 2026. And I can also add that the last quarter, said that we were 25% more efficient in the second quarter compared to second quarter last year. This quarter, we are closer to 30% more efficient in Q3. Compared to last year. And even more efficient than we were in 2024. Yes. So that was the final question for today. Yeah. Thank you for joining us and We look forward to see you in February with the 4th quarter and the full year results. Until then, we wish you all a Merry Christmas and happy holiday. Thank you for today. Thank you for today. And we will leave you with a Christmas commercial. Yeah. See you.