Gentlemen, good morning and thank you for joining us for the presentation of KONGSBERG's fourth quarter and preliminary annual accounts for 2020. I hope that you all can see and hear us clearly. As always, it is possible to ask questions throughout the webcast. The questions will be answered towards the end of the cast by our CEO, Geir Håøy, and our group CFO, Gyrid Skalleberg Ingerø. With that, I'll leave the floor to CEO Geir Håøy. Thank you, Jan Erik. Good morning and welcome to everyone on the call. Thank you for joining us for the presentation of our results. When we last met, most of us probably were hoping that our next meeting, that is today, would be under a little bit less strict circumstances. Unfortunately, this is not the case, but hopefully soon we will be able to meet in person again as we did back in the good old days. In the meantime, we are looking forward to present the quarterly as well as our preliminary annual results to you. I would like to start with some reflection of the year. 2020 has in many ways been unprecedented. We have all been affected by the ongoing pandemic crisis on many levels, and we are all looking forward to a more normal situation. As I have told you before, KONGSBERG, we are not sitting around waiting for normal. We are working under whatever circumstances we are facing, and I must say that the entire organization has done so with impressive determination and dedication in 2020. We have been tested. We have had to make tough decisions. We have implemented several measures, and we have proven that we are able to adapt and stay agile. We have also learned a great deal, and this experience we are taking with us going forward. Let's look at the results. I think most of us will think of 2020 as the year where we really experienced how interconnected and interdependent we all are. Therefore, I'm equally proud of how KONGSBERG has maneuvered and what we have achieved the last year. It's solid performance by all teams across the entire group. The book-to-bill at the year ended up at 1.13. This is driven by the Defence, with a book-to-bill of 1.4. KM had a book-to-bill of 0.98, and I must say that even if the book-to-bill is below one, I think this is very impressive given the current market condition. We stand by our ambition that KONGSBERG will continue to be a growth company, and I think we have demonstrated this in 2020. The revenue ended up at NOK 25.6 billion, equivalent to 10.2% growth compared to last year. This is especially driven by the Defence at 7.4% growth, and in the Maritime, we have 7.4% growth. In total, we have delivered an EBITDA of approximately NOK 3.3 billion and an EBITDA margin at 12.7%. This is an increase of more than 50% in 2020. This is due to a favorable project mix, but even more, excellent performance by all our employees, their adaptability, their agility, and the way the entire organization has managed the COVID-19 situation. Also in close cooperation, of course, with our customers and partners. Another significant highlight of the year is what we have achieved in the Value Capture Program. We have realized annual savings of NOK 640 million. This is NOK 140 million above the target we set at NOK 500 million and is also two years ahead of the initial plan. This has, of course, helped our financials this year and will continue to do so going forward. The Value Capture Program, in its current form, is now concluded, but we will of course continue to work on other value capture and efficiency initiatives. In the year, we have also significant achievement when it comes to the digital domain. As KDI continues to roll out the Dynamic Digital Twin with good traction on the global Shell agreement. Also in Q1, we sold Hydroid Inc. to Huntington Ingalls Industries, which is in line with our active portfolio management strategy. Based on the overall results and the strong balance sheet, the board will propose for the general assembly an ordinary dividend of NOK 3 per share, and additionally, NOK 5 in special dividend per share. A total of NOK 8 per share. In addition, the board will propose to initiate a share buyback program up to NOK 400 million. In total, the board will then propose a remuneration package of more than NOK 1.8 billion. I'm very satisfied with how the year ended. Let's look closer to the quarter. We had a very solid order intake of NOK 11.4 billion. This is especially driven by the several large Defence orders, which I will come back to on the next slide. We entered 2021 with a record-high backlog, which gives us the confidence to our growth ambition. In the quarter, we booked NOK 7.1 billion in revenue with an EBITDA of NOK 950 million, corresponding to an EBITDA margin of 13.3%. In maritime, certain segments are still challenging. Despite this, I'm pleased to see that KM delivers an order intake in line with Q4 2019. We need to remember that that was a quarter not affected by any pandemic. Looking at the KM order intake achievement, both for the quarter as well as for the entire year in 2020, I think we must go back to 1993, which is the same year as I started in KONGSBERG, to see the same low level of new build contraction. I think this is saying a lot about the strong position KM holds in the market. It is a solid performance allowing us to maintain our order backlog under very challenging conditions. While Defence and Digital also are affected of the situation, these business areas has continued to ramp up during the quarter. This is to meet the project demands. Our activity related to the F-35 production and the maintenance is progressing with full force. We continue to expand production facilities in Kongsberg Technology Park, among others, and we have also launched recruitment campaigns both in Kongsberg Digital and also in Kongsberg Defence & Aerospace. Also, during the quarter, we delivered our remote weapon station 20,000, and we have now 25 countries on our customer reference list, which is a great achievement for this successful product. As I mentioned, I'm very pleased that we are continuing to securing contract on both considerable size but also strategic importance. I'd like to mention the Hungarian NASAMS contract at EUR 410 million. This is now the 12th country that has acquired NASAMS, and I think it underlines the success of cooperation with Raytheon in the air Defence market. The air Defence contracts are strongly supporting our ambition to grow. Delivery of PROTECTOR RWS to the mechanized infantry vehicle program to the British Army. This is the seven delivery contract, including two upgrades for the British Armed Forces. This Protector will now be integrated on the British Army's new fleet of Boxer eight-by-eight vehicles in close cooperation with Thales UK, Rheinmetall, and KMW. We have now closed the two follow-on JSM contract with Japan at NOK 820 million. KM has secured a contract with the Spanish shipbuilder Navantia to supply propeller system for five F110 frigates, which is currently under construction for the Spanish Navy. The contract has a value of NOK 200 million. KM has strengthened its position in the offshore wind sector with another innovative solution for installation vessels. The contract is signed with MacGregor to deliver a pile gripper guidance systems for the OHT Alfa Lift, which soon will be the world largest customer-built offshore wind foundation installation vessel. Lastly, we are very proud that we have had an international breakthrough with the remote tower system to Spain. The Menorca Airport is going to operate with KONGSBERG's remote tower, which allowing us to prove our remote tower solution outside Norway. If we dive deeper into our business, none should be surprised that there has been uncertainties in some markets. KONGSBERG is a global company, we are affected by the ongoing restriction in travel. At the same time, our global setup and remote support solutions is enabling us to solve our customers' demands locally. Kongsberg Maritime is continuing to improve its profitability. This is partly driven by increased focus on project performance and also a good project mix. The continued cost focus and Value Capture program has strengthened KM's competitiveness as well as the financial robustness. We have also already realized NOK 700 million in cross sales from our combined portfolio between KM and CM. I'm really excited about what KM will accomplish as we progress further with our product harmonization program, which is ongoing. Kongsberg Defence & Aerospace ended up a year on a very high note, driven results for the group. In Defence as well as in Maritime, we benefit from a favorable project mix. It's a strong cost focus and continued solid performance in all divisions. We are continuing to scale up as we are working to deliver on already robust order backlog, as mentioned when talking about the highlights in the quarter. We are also continue to strengthen our footprint within maintenance, repair, and overhaul, the MRO market. Entering this was a strategic priority for us, and I think this will become increasingly more important to us in the years to come. I think this is also emphasized by the opening of the F-35 motor engine depot at Rygge. This is one of five planned maintenance, repair, and overhaul and upgrade facilities worldwide for the F-35 engine. Kongsberg Digital has impressed me this quarter and also this year with its ability to maintain and strengthen customer dialogue under the circumstances, constantly exploring ways of interacting with both customers and partners, utilizing KONGSBERG's developed digital tools as well as others. We are also chasing new opportunities as we see increased interest for remote and digital services. Here, I would like to mention our real-time drilling monitoring tool, the SiteCom, and also the e-learning solution, K-Sim Connect. By that, I think I will leave the floor for Gyrid to take us through some details of the financials. Thank you, Geir. Good morning, everyone. Thank you for listening in to KONGSBERG this morning. Another year and another fourth quarter. Today, I will start with the order intake during 2020. After entering into 2020 with a record-high order backlog last year, KONGSBERG has continued with a strong order intake through all the quarters in 2020. We ended 2020 with an order intake of NOK 28.8 billion and a book-to-bill for 2020 of 1.1. With that intake, we increase our order backlog with NOK 3.6 billion and entering 2021 with an order backlog of approximately NOK 36 billion. In addition, we have several large framework agreements on the fence. Out of this order backlog, NOK 18 billion are scheduled for deliveries already this year. If we compare that with last year, we had only secured NOK 16.7 billion when we started 2020. On top of the NOK 18 billion for 2021, we also normally delivers around NOK 7 billion in Global Customer Support, and we have the recurring revenue in Kongsberg Digital. Even with the uncertainty we experience today in the maritime market, we believe that KONGSBERG will grow also in 2021. Kongsberg Digital had an order intake of NOK 1 billion last year, 2020. As earlier, all we report on Kongsberg Digital is external orders from external customers. If we look a bit more into the order intake and what happened last year. On the screen now, you can see the split in order intake during 2020. I have not comment on this during this year, so I will give you a bit more details this time. For Maritime, you can see that aftermarket or Global Customer Support still is of high importance to us, particularly in periods when the new build market is at such low levels as we see now. There are also limited of orders that we count into our order backlog. Looking at the segments or vessel types that you see here, this proves the diversity that we have in Kongsberg Maritime today. We also want to point out that the orders received from offshore also includes offshore wind, where we see several opportunities at the moment. Offshore wind has a good fit with both the value proposition and the product offering that we have in Maritime today. In the segment for offshore production units, you will find deliveries to typically Johan Sverdrup and other installations on the Norwegian continental shelf. In the pie here, you can also see others. In others, you will find our other underwater vehicles, typically the HUGINs. If you look at the Defence on the right side on the chart here, the air Defence or the NASAMS has been the main driver for our significant order intake this year with our recently signed order with Hungary. Further, our land division, which with the remote weapon stations, was the second-largest contributor. As Geir mentioned, we have reached a milestone in Q4 when we delivered the remote weapon station number 20,000. Missiles continue to grow and over the next couple of years, we expect that that will be the area that we will continue to grow and increase its relatively share of KDA's order intake. Just to remind you, the margin on the missiles area are a bit lower than on some of the other areas. In other, typically, it has been comms, and also Defence communication. Revenue growth and increased profitability, I think that sums up the last year. 2019 was a year with significant growth for KONGSBERG, and in 2020 we continued to grow and we ended with a revenue growth of 10%. All our business area has had a growth last year. Defence with 17%, Maritime with 7%, and Digital with 3%. Digital was affected by the legacy business Maritime simulation that was hit by COVID-19. Recurring revenue in Digital ended at 35% for 2020, and we see positive development for SaaS revenues. Maritime started the year with growth but ended on a declining revenue trend year-over-year, and I will come back to that later. For 2020, we deliver, as Geir said, an EBITDA of NOK 2.25 billion with a margin of 12.7% compared to 9.1% last year. All business areas have contributed to an increased EBITDA. Scale, positive COVID-19 effects, successful Value Capture program, and a favorable project mix on the Defence side are the main drivers for increased EBITDA this year. To add a couple of more specific effects, KONGSBERG has, over the 18 last months, put more focus on sourcing of indirect spend, and we are now able to measure more concrete effects or saving effects on that program. Included in the figures for 2020 is also worth mentioning that we also have booked and paid out a bonus to all our employees due to strong financials and as an alternative to social gatherings that was put on hold last year. EBIT on NOK 1.9 billion with a gain from the sale of Hydroid of NOK 1.5 billion after tax. KONGSBERG delivers NOK 2.9 billion in earnings after tax for 2020, a significant growth in the earnings last year. If you look into the fourth quarter of order intake and margins, you can see another strong quarter. An order intake of NOK 11.4 billion with a book-to-bill of 1.59. Main drivers for the order intake have been the three large Defence contract in the quarter, NASAMS Hungary, U.K. Infantry Vehicle Program, and the JSM Japan. Together, those three orders count for 44% of the order intake in the fourth quarter. Most impressing is still may be the Maritime with a flat year-on-year development and a slight increase from Q3 despite a very challenging market. Q4 had revenue decrease isolated on 10% compared to last year. Maritime had a decline of 18% this quarter, explained by overall lower activity and a weak new build market. Defence continued to grow and increased the top line by 6%, while Digital grew by 3%, driven by the digital twin rollout. A milestone this quarter was the EBITDA for the group, NOK 948 million, and if we add on the associates in the EBITDA, as we have reported it until the third quarter last year, we deliver more than NOK 1 billion in EBITDA in a quarter isolated. That is the first time. Cash flow, ending 2020 with NOK 7.4 billion in cash. An increase of almost NOK 2 billion during 2020. As you can see, the main contribution has been from operational cash flow and the sale of Hydroid. Main use has been dividend to KONGSBERG shareholders and repayment of a bond, KOG-10. Approximately NOK 2.7 billion of the cash that we have at the end of the year is prepayment from our customers. Net working capital. In terms of COVID, it has been important to monitor the development in the working capital during 2020. As I commented last summer, our focus after March last year was on three KPIs, daily cash control, outstanding on trade receivables, and the quality in the order backlog. Looking at the development in the working capital here, the cash conversion and the increased profitability during 2020, this focus has been important. Before the acquisition of Commercial Marine, Kongsberg Maritime was on a higher level regarding working capital. It was actually up to 15% and sometimes 16%, 17%. With combining the two companies, the average working capital level came down, and after a small increase this year, after COVID, we will aim to lower it again to levels around 8%. I don't think I need to comment either on the Defence or on the Digital. The Digital is quite flat on working capital. As you can see, because of the prepayments, we still have a very healthy working capital on the Defence side. Kongsberg Maritime, let's look at some details here. Isolated for the fourth quarter year-over-year, we have a flat order intake in Maritime and somewhat up from the third quarter. Maritime still has a healthy order backlog entering into 2021 with an order backlog of NOK 11.4 billion, with a book-to-bill in 2020 of 0.98. NOK 8.3 billion of the next year's top line is secured. On top of this, we normally have, as I said, orders from our Global Customer Support area of approximately NOK 7 billion. If we look one year back, we have today a better order backlog for deliveries in 2021 than we had last year. During 2020, we experienced very few cancellations, and those came already in the first quarter last year. No cancellations have been received the last half year of 2020. Given the order backlog and the diverse maritime segments we operate in, we are slightly positive that we will continue to deliver according to the volumes we have seen the last two quarters in Maritime. As Geir mentioned, very well-positioned when the market activities start to increase again. Maritime has a decline in revenue with 18% compared to the fourth quarter last year, it's up from the third quarter, and revenue in Q4 are approximately NOK 200 million lower than in Q1. It's NOK 600 million higher than both in the second quarter and in the third quarter with a positive development on Global Customer Support towards the end of the year. We see that from having people on temporary leave during the second quarter, there are now only a few left on temporary leave. We have developed new solutions for remote services and are increasing the deliveries month- by- month with new ways to work. To see growth again during 2021, we need new orders either in the new-build market or a number of larger projects in the aftermarket, typically for retrofit or upgrades. EBITDA in the fourth quarter of NOK 464 million, that is actually all-time high reported from Kongsberg Maritime. Lower revenues are offset by improved gross profit margin, and lower OpEx is largely explained by reduced integration and restructuring costs, Value Capture measures, and COVID-19-related cost savings. The Value Capture program, a real success story. The Value Capture program was launched 1st of January 2019 and has come to an end two years ahead of the schedule. The program has realized savings this quarter for NOK 195 million and in total NOK 640 million over the last two years compared to a 2018 baseline cost base. All these numbers are counted on annual basis, which means that we will see full-time benefits from that program also in 2021. The restructuring of Deck and Machinery have been a real turnaround and has contributed heavily during the last year in this program. From 2021, we will not report on the Value Capture program will continue with different efficiency initiatives to increase our competitive advantage in a leaner and more competitive Maritime business area. Typically, that will be sourcing, continued product harmonization, and optimize the new normal with more digital and remote services. Have a look at the Defence area. Order intake of NOK 11.9 billion this year with a book-to-bill of 1.40. Isolated for the fourth quarter, a significant increase from last year with an order intake of NOK 7.3 billion with a book-to-bill of 2.81. Even if some large contracts keep being delayed, we now have an order backlog of NOK 23.5 billion in the Defence area. Out of that order backlog, 38% will be delivered this year, meaning that we already have secured NOK 9 billion of next year's top line in Defence. This is NOK 2 billion higher than the secured deliveries at the beginning of 2020. Looking at the revenue growth. Revenue in the fourth quarter of NOK 2.6 billion, with a growth of 6% year-on-year, largely driven by high activity on NASAMS Qatar, higher CROWS deliveries, and growth on the F-35 volumes. EBITDA margin in the fourth quarter of 9.6% is in line with the full year EBITDA margin of 19.5%. EBITDA is NOK 68 million higher than the Q4 last year, and the EBITDA margin is up with 1.6%, driven mainly by increased revenue and gross profit, in addition to scaling of OpEx. Something that we not often comment that much. If you look at the associated companies, our two main contributors as associated companies are KSAT and Patria. Both of them had a very strong year in 2020. KSAT also achieved a milestone last year and delivered more than NOK 1 billion in revenue. One of the main drivers for growth are the increase in satellite passes. During 2020, the satellite passes increased with more than 10,000 for KSAT. Looking at the EBITDA margin on 41%, looking quite impressive. You also need to remember that this is a very CapEx-heavy business. Last year, KSAT invested NOK 250 million back into the business. Regarding Patria, we have been running a close-the-gap program together with our co-owner in Finland for the last 18 months. The combination of this cost efficiency program, combined with very strong Q4, lifted the EBIT in Patria at the end of last year. Last but not least, Geir has already provided you with the good news, and according to our capital allocation principles and our dividend policy, the Board, in combination of dividends, special dividend, and share buyback, will propose to return NOK 1.8 billion to our shareholders. If accepted, you can see the key dates on the screen here now. Thank you so much. Back to our business update to Geir. Thank you, Gyrid. Let's have a look at the outlook. I think as previously stated, our solid order backlog gives us predictability and grounds for optimism for the future. This is despite the global uncertainty in the market where we operate. At the very start of my presentation, I said that we have been tested, both our systems and the organization. Our measure has proven to be efficient, and we have confirmed our scalability, and we have embraced new ways of working. We have also seen willingness and ability in the market to adapt to the situation, and we believe that this, combined with the transition to more sustainable solution and energy sources, will affect investment level going forward. This provides opportunities both in the markets where KONGSBERG already has strong foothold and in new markets where our technology will be a part of the solution. In the maritime, the market are still partly very challenging, with very few newbuild vessels being contracted. This is a trend we expect will continue in 2021. At the same time, the mentioned quest for more sustainable solution will have a positive effect going forward. In the Defence, I expect continued growth as our operation are running close to normal levels and our significant order backlog provides a solid fundament. Of course, we are prepared for possibilities of delays in our supply chain and some program negotiation might be also somewhat delayed given the situation. I think in Digital, we have gained good traction with our Dynamic Digital Twin, as well as for our recurring business models. No doubt that our investments in digital product and servicing are paying off, as the current circumstances are highlighting the need for and the strength of such solution. In general, 2020 has accelerated and underlined the importance of safety, sustainability, and digitalization in all our industries. KONGSBERG has deep domain knowledge, world-leading technologies, technology solutions, and a strong industrial position in all these areas. That makes me very confident for the future, as our foundation has never been stronger. By that, thank you so far. I will ask Gyrid to join me again, and we open up for a Q&A session. Thank you, Geir. We have a couple of questions from the webcast. The first couple of questions are from Mr. David Barker in Bank of America. You had 0.88 book-to-bill in Kongsberg Maritime in Q4. Do you think you will be able to sustain a book-to-bill above 1 in 2021? There is still uncertainties in the market. As we said, we believe that the new build contracting will be challenging also in 2021. As Gyrid said in her presentation, to have growth here, we need to see more activities on the project sides on the aftermarket particularly. Our feeling right now is that we should be able to stay on the same level as we have been for 2020. I think we are well adapted for the current market condition in Kongsberg Maritime. Of course, I believe that we are also well-positioned for a possible upgrade. That is particularly related to sustainable solutions and also other fuel resources or energy resources that could be an upside for Kongsberg Maritime. Thank you. Another question from Mr. Barker. You had a large order for NASAMS in November last year. What is the outlook for NASAMS in 2021? Do you have any major contracts in negotiation that we should expect? I think I will repeat what our head of the Kongsberg Defence & Aerospace business area said during our capital market day in November. We believe that we should be able to secure three to five NASAMS contracts in the next years to come. Obviously, that was before Hungary, you have to deduct one from that numbers. We are in a very strong position with the NASAMS, and we have a good hope to continue to secure important contracts in that segment going forward. Yes. The final question from Mr. Barker is, do you plan to do any other major disposals in 2021? Does choice towards buyback and special dividends rule out any medium or large-scale M&A cases in 2021? I think if you look back now, taking 12 months back and forth together, we are returning NOK 4 billion to our shareholders. This is a proposal for the general assembly in May, so it's not planned anymore this year. In terms of M&A, I can assure you that we have dived into a lot of companies over the last year. We always look for opportunities in that area. Thank you. I have a couple of questions from Kenneth Sivertsen, Pareto. Congratulations. What an impressive year. Would you have believed a record-high backlog could be secured during the COVID-19 pandemic? Two questions on top of that, cost improvements of NOK 195 million, would that be the run rate going into 2021? Of course, now we have been running a very strong Value Capture program, and we are always looking on new opportunities on that. As I said, we are running now a tighter sourcing program. We are still having some product harmonization to do. I think this will be quite hard to then go with this run rate. As you know, you never know how the world will develop. In uncertain times, we need to have focus on the cost all the time. Of course, there are always an opportunity after COVID-19, with the new normal, to see how you can do things in a better way with lower cost. We have focus on it. To guide on any cost reduction quite specific, we will not do it right now. If I may add, I think very much depends on the development of the pandemic and how the world will open up gradually. Of course, there will be some costs coming back. Obviously, as I said in my presentation, we have learned a lot during this last year, and our goal is, of course, to bring that with us going forward, also when it comes to the cost control. Thank you. Second question from Mr. Sivertsen. You mentioned that KDI includes inorganic growth. Do you have any specific areas in KDI that needs to be strengthened or broadened, preferably by acquisitions, to broaden scope? I think KDI has really, let's say, made their foundations more solid in 2020. There is now, let's say, we need to further scale up. Of course, we have a platform here. We have some tools and the Digital Twin is in place. We need to speed up, for example, application development. That we do as we speak with organic growth. Of course, if the right opportunity is there, we will definitely consider that to further and faster speed up, particularly within the application side. Thank you. I have a couple of more questions from the web. The first, can you share any news with regards to the Qatar vehicle program with us? I think we also mentioned that during the Capital Market Day. I have also mentioned it in the earlier quarters. The program has also been affected by the COVID-19 situation. We had to bring people home from the ground in Qatar. We are now back with people in Qatar. The dialogue is reopen. We will see. This is a huge program. We are, as I say, positive for the ongoing discussions. Then we will have to see the timing of when something can be concluded with the Qatarian government. Another question on the Defence side. With regards to Kongsberg Defence & Aerospace, you mentioned missiles would represent a larger share of revenues going forward, and this being a lower margin business than other areas. Is it fair to assume lower EBITDA margins for KDA going forward? The goals that we have in 2020 for the Defence area for 2022, it's lower than the margin that they actually are delivering today. What I try to say is that we are not seeing any increase in the margins up from the level that we are now. The project mix that we have on deliveries for the Defence area will always be a guidance on how the margins will develop there. As you can see, it's just Japan that had ordered the JSM missile. Heading our way, we think that we will increase those portions of orders in our order backlog. As they are increasing, they put more pressure on those high margins that we see today. I think it's fair to say that up from 9.5% EBITDA margin is hard for the Defence area when the missiles are having a larger portion of the order backlog. Project mix. Always. That will remain to be seen. Okay, final question from the webcast. There are several companies experiencing significant supply disruptions currently. Have KONGSBERG experienced any of those? One of the first after make sure that our employees was safe during their working hours. I think that was one of the first thing that we addressed when the lockdown come, that was to really go into our supply chain and see for alternatives in case something happened. We have not experienced major supply chain that has been affected by the COVID-19 so far. There has been some incident, we have managed to deal with them. We are on the alert, and that is something that we're really monitoring, both in the Defence area, also in the civilian side. We are continuously working with our supply chain to make sure that we are robust in case something are delayed or not able to be delivered. Probably a higher or a more challenge for us is all the travel restrictions that we have on all our service engineers, especially on the maritime side, but also on the Defence side, to be able to travel around and monitor all the projects. The rapid change in the travel restrictions is a challenge. So far, we have handled it quite good. Thank you. That was the final question from the webcast. Once again, thank you for joining us today and we look forward to see you next time, hopefully in person. Thank you.