Good morning, welcome to the presentation of Kongsberg Maritime's financial results for the second quarter and first half of 2026. Today's presentation will be delivered to you by our CEO, Lisa Edvardsen Haugan, as well as our Acting CFO, Jan Erik Hoff. If you have any questions during today's presentation, you can submit them through the webcast, and they will be ans wered towards the end of the broadcast. As always, please note that some of today's comments may be forward-looking and subject to risks and uncertainties. With that, I'll hand over to our CEO, Lisa. Thank you, Runi, a very good morning from me as well. I would like to start by thanking all of you for your engagement and interest during the second quarter. The listing in April and our first Capital Markets Day in June marked an important milestone for Kongsberg Maritime. We are a newly listed company, but we've built on more than 200 years of maritime heritage. In this phase, our priority is clear. Trust is key. Trust with customers, trust with partners, trust with employees, and trust with investors. That means delivering strong shareholder value. It means disciplined execution, operational focus, and consistent progress against the ambitions we presented at Capital Markets Day. The maritime markets are changing fast. In Q2, still ongoing, we saw how geopolitics, energy security, and changing trade routes can create both disruption and opportunity. At the same time, the long-term drivers are still very much in place. Fleets need to be renewed, vessels are becoming more complex, customers need to reduce emissions, improve efficiency, and operate more safely. Naval and governmental demand is increasing. A clear feature of the quarter is that new build activities gives us the strongest visibility. Ordering activity remains strong across the markets, supported by solid customer earnings, fleet renewal, and shipyard backlogs. The aftermarket is more short cycle. It is more affected by customer timing, vessel utilization, and the cost of taking vessels out of operation. The long-term demand remains strong, but the short-term environment is more vola tile. Our response is to focus on what we can control: execution, cost discipline, operational improvements, and selective investments where we see the stronger customer value and attractive long-term potential. Yesterday, we announced the acquisition of Berg Propulsion. This is an important strategic step for us. It strengthens our product portfolio and allows us to fill targeted niche gaps. At the same time, it significantly broadens our propulsion offerings across both merchant and naval markets. By expanding our mechanical and electric propulsion capabilities, we further strengthen one of our key differentiators, our ability to deliver complete integrated solutions. This is particularly relevant as we continue to scale in high-volume segments such as cargo, bulkers, and tankers, where demand for integrated and energy-efficient solutions is increasing, and where the breadth of propulsion capability is becoming a clear competitive advantage. Berg Propulsion is a well-established and profitable company with strong momentum and an installed base of more than 4,000 vessels. We see clear untapped potential in combining our complementary product portfolios to drive scale, expand our addressable markets, and deliver even stronger value to our customers. This acquisition is a central part of our growth plan. It strengthens our positioning and allows us to serve a broader range of customers and vessel segments going forward. Overall, activity held up well in the quarter, even though the market backdrop became more complex. We delivered stable revenues despite negative currency effects. We also continue to see good activity across both divisions. The broader market is still supported by solid new build demand, strong earnings in several vessel segments, and continued focus on efficiency and fleet renewal. New build was the main driver in the quarter. Deliveries increased, and we continued to convert our backlog into revenues. This is in line with the wider market picture, where ordering activity remains strong across cargo, gas carriers, offshore-related vessels, and naval and governmental segments. On the order intake, we remain above revenue levels, and the backlog increased further to a record high level. That gives us good visibility going forward, particularly on the new build side. Let me now turn to new building order intake. This is where we see the strongest momentum. Year to date, the mix is led by Offshore Energy, followed by Naval and Governmental, ro-ro and tug. This gives us a good balance. We have strong positions in several of these markets, and we are also building further scale in areas where we see attractive opportunities. Importantly, our new build order intake is not dependent on one market only. Offshore Energy remains the largest contributor. This reflects our strong position in the segment. It also reflects the underlying drivers: energy security, fleet renewal, and the need for more capable and efficient vessels. Offshore oil and gas has improved, supported by the tight vessel supply and increasing activity. Offshore wind is more challenging in the near term, with project delays and uncertainty. Overall, this remains an important segment for us with attractive long-term fundamentals. Naval and Governmental is the second key area. Defense spending is increasing. Fleets are being modernized. Governments are also putting more emphasis on maritime security, critical infrastructure, and subsea assets. Demand is strong, but capacity in the market is constrained. That makes execution capability and proven technology even more important. This is a segment where we see strong long-term potential. Cargo is also an important contributor year to date. Freight markets have been supported by disruption, longer sailing distances, and inefficiencies in global trade flows. That has supported earnings and fleet renewal, especially in tankers, containers, and gas-related shipping. Historically, this has been a smaller area for us, with the announced acquisition of Berg Propulsion, we are strengthening our exposure. The opportunity is not only more vessels, it is also more technology per vessel linked to efficiency, energy management, and more advanced systems. Tug continues to be a solid and specialized segment for us. It is supported by port expansion, larger cargo vessels, electrification, fleet renewal, and demand for more fuel-efficient solutions. Gas carriers also remain important, with strong long-term LNG fundamentals, although there is some near-term uncertainty linked to Middle East trade flows. Passenger and other are smaller contributors in the current mix, cruise and ferry markets continue to be supported by fleet renewal and efficiency needs over time. While the mix will move from quarter to quarter, the current new build momentum is coming from segment where we see strong demand, clear structural drivers, and good visibility. Let me now turn to the aftermarket. Overall aftermarket activity came in slightly above Q1. Looking across the segments, we continue to see some variation. Gas carriers and cargo are slightly below the same period last year-to-date. One important factor is that the geopolitical situation in the Middle East. Disruption to trade flows is lengthening voyages and tightening vessel availability. When vessels are in a service, some owners choose to postpone non-critical maintenance in order to maximize utilization. Some customers are also taking a more cautious wait-and-see approach, particularly for larger upgrade projects. In addition, regulatory uncertainty around energy efficiency is leading some customers to defer decisions on energy-saving technologies until there is more clarity. Offshore started the year more slowly, delivered a solid second quarter. Year-to-date, we are modestly ahead of the same period last year. Market fundamentals remain supportive, with good rates and utilization supporting aftermarket demand. Although project timing will continue to create some quarter-to-quarter variation. In naval, activity was solid in Q2, supported by the geopolitical environment and continued customer focus on fleet readiness. Tug has also delivered solid year-to-date performance, well ahead of the same period last year, with spare parts demand as an important driver. Passenger has been relatively stable, although slightly below the same period last year. This mainly reflects project timing and somewhat lower planned docking activity. In summary, the aftermarket picture was slightly stronger than in Q1. The long-term fundamentals remain attractive, in the near term, we expect some continued variation between quarters and across segments. Order intake in the qua rter was NOK 7.2 billion, resulting in a book-to-bill of 1.09. While order intake was slightly below last year, it remained above revenues and supported continued backlog growth. The quarter was particularly driven by new build, where book-to-bill reached 1.24. On the aftermarket side, customer decisions remain slower, especially for larger upgrade project. This is partly about project timing, but it also reflects high vessel utilization, higher cost, geopolitical uncertainty, and open questions around future efficiency and fuel requirements. Our backlog increased by NOK 0.6 billion from Q1 to NOK 28.4 billion. With 87% of the backlog linked to new build deliveries, we have good visibility in this part of the business going forward. Overall, this was another quarter with solid order intake, a stronger backlog, and continued support from the parts of the market where we have the strongest visibility. With that, I will hand over to our Acting CFO, Jan Erik, who will take you through the financials. Thank you, Lisa. Let me start with a few words on the development in the first half of the year. We delivered revenues of NOK 13.3 billion. When adjusting this with the NOK 429 million currency translation effects, it corresponds to a 5.3% growth from H1 last year. EBITDA came in at NOK 1.7 billion, corresponding to an EBITDA margin of 13%. Over the past year, we have experienced a mix shift with revenues from new builds increasing from 46% of the revenues last year to 51% in H1 this year. We're pleased to see that both our divisions are able to scale their new building operations, which again offsets most of the margin impact from the mix shift. Higher share of new building requires more working capital by nature, where aftermarket contracts in general are shorter term, requiring less inventories and are executed relatively fast. New building deliveries typically follow the construction phase of the vessels. This period can be up to several years. The second quarter consists of a clean Kongsberg Maritime figures, and there are no outstanding adjustments related to the demerger. In the second quarter, activity remained solid and revenues increased year-on-year. At group level, revenues were NOK 6.65 billion, compared with NOK 6.34 billion in Q2 last year. Reported revenues were negatively impacted by NOK 234 million from currency translations. Adjusting for this, growth came in at 8.6%. Lisa touched on that the majority of our order backlog is related to new build deliveries. This supports solid visibility going forward. Deliveries to new builds grew 9% year-on-year. In the previous quarters, we have experienced some headwinds related to our aftermarket operations. It's therefore pleasing to see that Q2 revenues from the aftermarket came in slightly above the corresponding quarter last year, as well as first quarter this year. Looking at the divisions, we delivered growth in both Energy & Control and Propulsion & Handling with respectively 8% and 6% year-on-year. In Energy & Control, we grew both in new builds as well as in the aftermarket. While the growth in Propulsion & Handling is driven by new build deliveries. The activity remains solid. We see strong prospects for growth from new builds, both from orders already in the backlog, a good list of future prospects, and long-term market tailwinds. It's important to emphasize that even though we still see some short-term uncertainties in our aftermarkets, we're at historic high revenue levels. With the fleet continuing to age, long lead times for new-build deliveries, technology development coming faster than ever, and increased level of regulations over the past years, the long-term tailwinds are strong. In the second quarter, EBITDA came in at NOK 830 million, corresponding to a margin of 12.5%. EBITDA was negatively impacted by NOK 34 million from currency translations and NOK 37 million in demerger-related costs. Adjusted for these items, the margin was 13.1% compared to NOK 871 million and 13.8% last year. Both divisions improved EBITDA year-on-year. Energy & Control delivered an EBITDA of NOK 392 million, up from NOK 361 million in Q2 last year. Propulsion & Handling delivered NOK 612 million, up from NOK 520 million. In the other segment, we see impact from both higher R&D initiatives related to digital and concept development, as well as NOK 37 million in cost related to the demerger. We also have some additional costs related to establishing functions and systems with regards to the demerger. Summing up our EBITDA, we see scale and strong project execution offsetting the mix shift from aftermarket to newbuilds. We continue to focus on improving our operations through disciplined execution and cost focus. At our Capital Markets Day in June, we launched a Competitiveness Improvement Program that is aimed to give impact already this year and have a full year effect in 2027 of NOK 600 million. The cash flow in the second quarter was impacted by working capital, which ended at 7.8% to sales. This was mainly driven by a NOK 200 million increase in inventories and high level of invoicing. That was increasing trade receivables. It is worth mentioning that during the first week of July, we had a NOK 300 million positive cash flow, indicating that trade receivables is coming somewhat down. Worki ng capital development in Kongsberg Maritime fluctuates depending on phasing of projects and delivery mix. As I already touched on, the shift from aftermarket to newbuilds in general requires more working capital due to the nature of a newbuild project compared to an aftermarket sale. In the second quarter, we also finalized the payment of IT assets to Kongsberg in relation to the demerger with NOK 470 million. As of end of June, cash and cash equivalents were NOK 2.5 billion, and we ended the quarter with a net cash position of NOK 611 million. On top of this, we also have NOK 4 billion in undrawn credit facilities. While quarterly cash flow was impacted by increased working capital, the broader picture remains resilient. We have solid liquidity and a strong balance sheet, which keeps our financial flexibility intact going into the second half. With that, I'll hand back to you, Lisa. Thank you, Jan Erik. As we look ahead, the long-term drivers in our markets remain intact, and our backlog remains strong, providing good visibility into future activity. With 87% of the backlog related to newbuilds, we have a solid foundation for deliveries over the coming years. In newbuilds, we expect growth to continue, with 2026 deliveries projected to increase double-digit year-on-year. The current book-to-bill above one supports this trajectory, and it reinforces the positive medium-term outlook for this part of the business. At the same time, we remain mindful that the aft ermarket is more volatile, reflecting its short cycle nature and sensitivity to changes in global trade patterns and geopolitical developments. This introduces some near-term fluctuations in demand, although the long-term fundamentals for aftermarket remain positive. We operate in an increasingly complex environment, the underlying market drivers and our competitive positioning continue to support growth over time. In this context, our priorities remain clear. First, staying close to our customers, continuing to invest in innovation, competitiveness, and solutions that create value over time. Second, disciplined execution, delivering on our backlog with quality, predictability, and profitability. As we stated at our Capital Markets Day last month, we target 10% revenue CAGR over the cycle and an EBITDA margin above 16%. However, variation between quarters and segments should be expected, particularly given mix between newbuilds and aftermarket. Our hedge is diversification, ensuring that we are offering our products and solutions to nearly all vessel segments. Later this year, we look forward to welcoming close to 400 new colleagues from Berg Propulsion. Together, we will further enhance our offerings to customers, delivering more complete and competitive solutions across key vessel segments. In summary, the fundamentals of our business remain strong, we are confident in delivering profitable growth in line with our targets. I would like to thank you for your attention this Monday morning, we are happy to answer your questions. For this session, I would like to welcome Runi and Jan Erik back. Jan Erik. Now we have a couple of questions from the viewers online, the first question is: can you elaborate on the benefits on combining Berg Propulsion and Kongsberg Maritime? Also, will the acquisition of Berg Propulsion change the baseline for the targets from your Capital Markets Day? Yeah. I can start with the Berg Propulsion. It's important to say this is a company with a very long history and also a solid performance over the last couple of years. We have a great belief in this company, that the combining of Kongsberg Maritime and Berg Propulsion will strengthen the customer values into the market. The portfolio is very complementary to the Kongsberg Maritime portfolio, especially within the propulsion range. The products are targeting segments where we have a weaker position in Kongsberg Maritime today, especially within the merchant and the coastal cargo segment. This will also strengthen our presence in the light naval segment. Great benefits will come out of this acquisition, I'm certain. Perfect. Thank you. A question regarding growth. Is double-digit newbuild growth sustainable beyond 2026? I can answer on that. I think we have delivered or experienced solid order intake for new builds for a while. If you look at the book-to-bill in Q2, it came in at 1.24, supporting that. You also look at the contracting that we have seen at yards in the market or contracting at the yards, that has been very strong so far this year, supporting continued growth going forward. Also means that with our positions, with the expansions with Berg into cargo and more exposure there, we are well positioned to continue this journey. Thank you. Then a question from Peter Billing. You mentioned 87% of the backlog related to new build. Is that split also representative for the second half of year 2026? Or does it relate to the backlog in its entirety? It relates to the backlog entirety. 87 refers to the new build side, giving 13% related to aftermarket. Is kind of the normal trend that we are seeing, it also underpin what I mentioned, that somewhat the contracting, especially within larger upgrades project, has taken more time than what we have seen in the past. The long-term drivers are still there. The fleet is aging, and there is a need now to come in with more energy-efficient solutions also for the aging fleet. We have good belief in the future for the upgrade side of our business. We are expecting that to pick up. The timing is, of course, somewhat uncertain given everything that are happening in the world. Thank you. One question regarding the CIP. In your Capital Markets Day, you launched the CIP, the Competitiveness Improvement Program. What is the status for this program? Even though we announced the Competitiveness Improvement Program, it's important for me to mention that continuous improvement is something we are working on continuously. It's not something we are putting a program onto, but this time we saw a special need to do a more corporate-governed project since we are targeting such a large amount. We are on track with that program. We have confidence that we will be delivering in accordance with what we presen ted at the Capital Markets Day. Excellent. Thank you, Lisa and Jan Erik. I think that concludes the questions from the web. Lisa? Thank you. Thank you to all the viewers online, and we look back to coming back to you with the third quarter figures.