Ladies and gentlemen, good morning and welcome to the presentation of Kongsberg's first quarter 2021 results. The presentation today will be given by our President and Chief Executive Officer, Geir Håøy, as well as our Executive Vice President and Chief Financial Officer, Gyrid Skalleberg Ingerø. I will ask press and journalists that are to set up interviews with us after the presentation to contact our corporate communications department. You will find their contact details on our webpage, www.kongsberg.com. With that, I will leave the floor to our President and CEO, Geir Håøy. Thank you, Jan-Erik Hoff. Good morning, welcome to everyone on the call. Thank you for joining us this morning for the presentation of our results for the first quarter of 2021. As I have been these last quarters, again, I'm very pleased with the consolidated figures, and even more pleased with the efforts and performance of my colleagues across the entire group. For those of you who have had the time to read the press release, you see that Kongsberg Gruppen is off for a very good start of 2021, and I would say especially due to the current circumstances. Here in Norway, the spring is upon us, globally, the vaccination program are being rolled out. Society is gradually reopening as infection rates are slightly on the downturn, at least in some regions. I think there is reason for cautious optimism, though we are prepared for the pandemic to continue to affect us also in the remainder of 2021. Our partners, customers, and our own organization continue to exhibit impressive adaptability to the situation. Impressive, in fact, is a word I have used a lot the past year. As my Kongsberg Gruppen colleagues have stepped up again and again to tackle the various challenges. With that, let's look at the figures. Following a year with so many variables, I must say that it's a good experience to be standing here today presenting you with the Kongsberg Gruppen numbers as we have started 2021 well. We are continuing the positive trend from previous quarters. We have delivered strong performance across the group. Our continued focus on efficiency initiatives and cost discipline is paying off, and we have a favorable project mix in both Defence and the Maritime. The order intake ended at NOK 7.6 billion, which is up 12% compared to Q1 last year. This is due to both the number of contracts signed, as well as the size of some of them. I will come back to this on the next slide. When it comes to the book-to-bill, I'm also very satisfied that we managed to deliver a book-to-bill of 1.2 this quarter, and particularly with KM AS, which again delivers a book-to-bill over one in a very challenging market. For the EBITDA, we deliver a solid results here, close to NOK 0.9 billion, with a margin of 13.9%. Gyrid will come back to details later. Another good thing is that we continue to realize the cross-sales from our expanded combined KM/CM portfolio, which was one of the rationale for acquiring the Rolls-Royce Commercial Marine. This quarter, we have a cross-sale contribution of approximately NOK 200 million in revenue. Also this quarter, Norway and Germany enter into the strategic maritime cooperation on material, aimed at the acquisition of identical submarine and Naval Strike Missiles. We expect that this agreement will generate major order intake for Kongsberg in the years to come, both related to the submarine, but also as well as the NSM missiles. The first submarine is about to be delivered in 2029. As you can see, Kongsberg Gruppen continued to sign contract, and we have also this quarter signed several in all business areas. Kongsberg Maritime, we have secured several contracts where sustainable technology are very central to many of these deliveries. We have signed a comprehensive retrofit package for the training vessel MS Gann. It's a low-emission solution, helping to both reduce the vessel's emission and also enhance the education offered on board. We are also to design and deliver an innovative low-emissions service vessel. It's a live fish carrier to the shipping company of company Sølvtrans. This is in fact the number eight vessel to Sølvtrans, which is delivered or ordered with KM/CM scope. We have also signed a long-term service agreement with Sølvtrans for maintenance of their entire fleet. We have also got a supply to the Norway's Institute of Marine Research with four autonomous vessels, a full solution for ecosystem monitoring and management. Two of them are unmanned surface vehicle, and the other two is unmanned underwater vehicles. We also have signed a substantial integration technology package for a wind turbine installation vessel. The value is approximately $40 million, and this is with the U.S. energy company, Dominion Energy. This is a very important market for Kongsberg Gruppen, where we are extremely well-positioned for a significant part of the deliveries. Our extensive portfolio is actually perfect fit with the scope for such a high-end vessel. Looking at Kongsberg Defence & Aerospace, we have won contract both strategically important and also considerable size. We have signed the lot 15-17, which is the production for components to the F-35 Lightning II Joint Strike Fighter program. This is then for more than 500 aircrafts. Today, we are already on full-rate production and have so far successfully delivered and finalized more than 800 fighter jets. In this quarter, we have also signed an upgrade contract for the Norwegian NASAMS, the air defense systems in Norway. This has a value of NOK 266 million. If you take a closer look at our business in Maritime, we have, in this quarter, been quite busy. We have done several development project. We have launched new product, and also done several green upgrades. I'd like to mention a few of them here. The HUGIN Endurance, which is the next generation of our advanced HUGIN AUV, boosting operational duration and enabling substantial extended survey and inspection mission far from shore. Another exciting project, the RECOTUG. This is the world's first fully operational and fully remotely controlled tugboat. This is to be developed together with Svitzer and American Bureau of Shipping. Some more green upgrades. We have entered into a collaboration for low-emission solution to offshore drilling operations with COSL and National Oilwell Varco. This has resulted in an integrated solution where we combine KM's energy management system with NOV's research into energy optimization. If you look at the figures here, they are quite impressive. Here, we will achieve an overall fuel and emission reduction of more than 25%. This includes both NOx and CO2. On top of this, KM synergy and efficiency improvement continue to supporting improved margins. We have now the full year effect of the integration of CM. Obviously, we also still have some COVID-19 effect. If you look at the Kongsberg Defence & Aerospace, together with the contract I have already mentioned, we have also been awarded what we call call-off on our framework agreement with the U.S. Navy, which is the Over-the-Horizon program. Also, Kongsberg Aviation Maintenance Services has secured a very strategically important contract. This is to maintain and make ready for sale two F-16 aircraft. These have then been taken out of the service in the Royal Norwegian Air Force. The contract is signed with the Norwegian Defence Materiel Agency. This award position comes for future opportunities as a considerable percentage of the entire F-16 fleet may be potential to relevant for repair and making ready for sale. It's exciting. This might generate considerable activity. In addition, there are also business opportunities related to maintenance of these and other F-16 aircrafts with both existing users as well as new potential owners. KDA are continuing expanding and ramp up our capacity as planned to deliver on our substantial order backlog. As you have seen, this is continuing to grow. Our NASAMS production is progressing at a very high rate. We are expanding our production sites, such as the new building at our production facilities, Arsenalet, in Kongsberg City. We just also decided to another new customized facility for our space activity, which is also at the Arsenalet in Kongsberg City. Speaking of space, our space efforts is commencing successfully. In fact, we have now Kongsberg technology on Mars as NASA latest Mars rover, Perseverance, landed smoothly and safely on the surface of the planet in February. For Kongsberg Gruppen, it's great to contribute to such historical technology adventures in space. It really demonstrate our reach from the deepest ocean with HUGIN Endurance, and now with our technology at work on Mars. With our expertise, we have also contributed to expand the lifetime of a satellite 36,000 km above the equator. If you look at the Kongsberg Digital, I've already talked about the digital progress. I just add that we are continuing to ramp up also in this business area. We, in fact, hired about 100 new colleagues in 2020. We will continue to expand our capacity also in 2021, as we are working diligently to deliver on our backlog. In March, we secured a contract to install Vessel Insight to the entire fleet of Dorian LPG. The agreement is expected to commence operation in the upcoming months. We are also continued to roll out our dynamic digital twin, Kognitwin, under the Shell agreement. We are also increasing the number of users in parallel. I'm also satisfied to see that there is interest from other customer where we have additional pilot project ongoing and I'm quite confident that we will see positive results going forward. By that, I leave the floor for Gyrid to take us through some more details on the figures. Thank you, Geir Håøy, and good morning to all of you again. Once again, Kongsberg Gruppen is moving in the right direction. Let's see. New records and healthy development beating Q1 last year even with COVID restrictions. Strong financial performance in Q1 with EBITDA growth from a combination of higher gross margin and lower OpEx spend in all business areas brings the EBITDA up from Q1 last year. Maritime with lower year-to-date revenue year on year, while Defense continues to grow according to plan. Return on capital employed of 24.1% up from 10.2% last year, driven by the combination of increased EBIT and reduction in capital employed. Number of employees increased with 81 FTEs this quarter. The increase is shared between Defense and Digital to be able to deliver on growth. Kongsberg Gruppen had an order intake of NOK 7.6 billion for the three first months of 2021. As Geir Håøy mentioned, defense with one large contract on F-35, while Maritime finally saw some large contracts again and a positive tendency in Global Customer Support at the end of this quarter. Despite COVID, 53% of the new orders came from our maritime business area. Our order backlog continues to grow and has now increased to NOK 37 billion. I will comment on the split later. On digital, we have focused on the recurring revenue, which is not part of the order backlog as you can see. Decline in revenue of 4.7% from the company driven by a decrease in maritime on 16%, while Defense grow by 21%. Digital grow on recurring revenue while the division maritime simulation has been heavily affected by COVID over the last year and are still waiting for the academies to open again. Out of our order backlog today, almost 50% will be delivered already this year. Even with the decline that we see in maritime this quarter, we will still believe that we will deliver growth for the group also in 2021. We deliver an EBITDA of NOK 883 million with a margin of 13.9% this quarter, up from NOK 643 million last year and up from NOK 381 million the year before. Improved profitability in Maritime and Defense together with COVID OpEx savings brings EBITDA ahead of last year. The significant uplift from 2019 is due to cost synergies and cross sales after the acquisition of Rolls-Royce Commercial Marine in combination with the scale in Defense. In terms of EBIT, which I normally comment on, I want to bring to your attention that Kongsberg Gruppen will have a very steady depreciation and amortization going forward by approximately NOK 300 million per quarter, given today's business setup. Cash flow. We ended last year with a cash at bank at NOK 7.2 billion. During the COVID, the focus has been on development in the working capital. It has actually been extraordinary in the whole company. As you can see here, we still have control of the development in the working capital. The investments this quarter have been low with NOK 140 million. Main projects are digital twin, engine depot in Defence, and IT. For the time being, we have been running two different share programs. Share purchase under the buyback program of NOK 80 million and the employee share buyback program of NOK 59 million. In our cash position as the end of March 2021, you should also be aware that we have almost NOK 2 billion in prepaid from our customers. After approval for the general assembly next week, we will pay out NOK 8 per share in dividend. Together with the share buyback program, a total of NOK 1.8 billion will be returned to our shareholders. Through the last 12 months, we have been returning approximately NOK 4 billion to all our shareholders. A new credit rating has been performed. We have a solid liquidity and are comfortable with the remaining debt maturities in June and December. Whether we will manage those from existing cash or refinance is something we will decide closer to the maturity. The credit rating agency, Nordic Credit Rating, assigned an A- long-term issuer credit rating on Kongsberg Gruppen ASA with a stable outlook on the 7th of April this month. The standalone credit assessment was set to BBB+, there is a one-notch uplift from the state ownership. The management's credit rating evaluation process started already early last year in 2020, and the investment case was concluded during fall last year. Following the issuing of the public rating, Kongsberg Gruppen has received material interest from debt investors. It is too early to conclude on any pricing effects, but it seems for us that longer-dated funding, 7-10 years, now will be more easily available for the company. The whole credit rating analysis you can find on kongsberg.com. On to Maritime. Kongsberg Maritime received NOK 4.1 billion in new orders this quarter and are increasing the order backlog for the first time since COVID. Cancellations of NOK 24 million this quarter compared to an order backlog of NOK 11.5 billion is close to zero. Out of the order backlog of NOK 11.5 billion, 61% are for deliveries in 2021. That is NOK 7 billion. In the first quarter, Kongsberg Maritime delivered a revenue of NOK 3.8 billion. That secure a revenue of NOK 10.8 billion before aftermarket. Aftermarket is normally at least NOK 7 billion for a full year, where the majority is not in the order backlog. We see some small optimistic trends also in the aftermarket right now. It will be hard, but we believe in a flattish top line in Kongsberg Maritime for 2021, even if it don't seem like that after, or not that optimistic after Q1. If I should point out one challenge here, it will be further COVID challenges triggering delays or added cost. If I should also bring your attention to an upside, it must be some increase of order intake from new buildings or increased activity on the existing fleet. Both could lead to increased orders and revenue towards the end of this year. Maritime came in with a strong quarter after a somewhat slow start in 2021. March ended on a positive note, especially for Global Customer Support. Both Sensors and Robotics and Integrated Solutions contributed with positive development this quarter. Strong cost discipline combined with focus on new internal cost program and sourcing initiatives offset the reduction in revenue of 16% this quarter. The divisions are still waiting for the large contract that has been delayed over the last year. Kongsberg Maritime delivers NOK 430 million in EBITDA this quarter with a margin of 11.2%. That is the highest margin that the combined Kongsberg Maritime and Commercial Marine together has delivered. Kongsberg Maritime do not have any integration cost anymore but benefit from full year effect from the integration program. I also want to comment on Deck Machinery this quarter. That now delivers margin in line with the rest of the business end-to-end for the first time. That has been one of the main turnaround areas from the acquisition and has been diluting the margins in Maritime for the last two years. With higher order intake, the contribution from this area suddenly looks more promising. Kongsberg Defence & Aerospace. Defence with an order intake first quarter of NOK 3.3 billion, increasing the order backlog to NOK 24.5 billion. Geir Håøy has already mentioned the main contributors here. 29% of the order backlog will be delivered this year, so almost NOK 7 billion on top of the NOK 2.4 billion in revenue for the first three months. That gives a run rate today for almost NOK 10 billion at the moment compared to NOK 8.5 billion last year. If we avoid surprises in our supply chain, the growth for Defence this year is quite firm. Since last quarter, we have also built more solidity both for the order backlog in 2022 and onwards. KDA's revenue or Defense revenue in the first quarter are NOK 408 million higher year-on-year, 21% growth, largely driven by the significant increase in CROWS and NASAMS Qatar. While we had some delays in CROWS delivery, supplier issue that have affected deliveries under CROWS was resolved in March and deliveries is now back on track. Despite supplier issues, CROWS is the largest project in Q1 and accounts for NOK 401 million or 17% of the revenue. Top 15 projects in Defense accounts for 68% of the revenue year to date. That show the robustness that we now see in the project portfolio of the running projects that we have today. Defense EBITDA increased from NOK 231 million last year to NOK 469 million this quarter. An increase of more than 100%. An EBITDA margin of 20% is up 8.1% from first quarter last year. A positive effect from Air Defense with cost reassessment of NOK 40 million, effects of scale for the whole portfolio, limited travel cost and COVID-19 effect, keep the OpEx at the lower level today. With 20% EBITDA margin in Q1 and 19.5% EBITDA margin for 2020, I can agree that a long-term guiding on 16% in 2022 is low. To deliver 14% for the whole group, we also need to keep up the increasing trend in Maritime. Kongsberg Digital. Digital keep getting traction in the market, and have order backlog of NOK 1 billion. In terms of COVID-19, typical orders connected to maritime simulation are postponed. Energy with digital twin are ramping up both in terms of employees and investments. In addition, we see high order intake both in K-Spice and in LedaFlow. Digital delivered revenues this quarter of NOK 192 million, out of which recurring revenue is 40%, up from 35% last quarter. Our digital twin project connect more and more active users. The price model here is to invoice user and asset subscriptions in a SaaS model. Digital is current delivering quite well, and at the current state makes it natural to access both future partner models and other models in order to fully realize potential Kongsberg Gruppen see in Kongsberg Digital today. Going forward, this could also include a stock exchange listing. With that, I hand over to our outlook from our CEO again. Thank you, Gyrid. Then to the outlook. Let me start with the group as a whole. As we have seen, our balance sheet is sound. We have a substantial order backlog at nearly 37 billion NOK. Our position provides stability as well as confidence and solid expectation for the future. Despite persistent recession, there is a proven ability to adapt throughout the entire group. We have managed to capitalize on identified opportunities in our markets, both regards to larger contracts within defense, but also within growing maritime segment, such as the offshore wind segment. Also within the digital transformation in sectors such as the energy. The transition to more sustainable solutions and energy sources will affect investments level in our segments. This equals opportunities both in market where Kongsberg is already having a solid foothold, but also in new markets where our technology will make a difference. In Maritime, the situation remain part challenging, with a still low vessel contracting. However, there are some positive signals in certain areas. For example, the container vessels, where we have seen a strong contracting end of last year, and which have also continued into Q1. Just to remind you that there is a time lag between the ship owner contracting with the shipyard and until Kongsberg Gruppen will receive an order from the shipyard. KM is also a player in segments which is not affected by the new build market, such as the Sensors and Robotics, as well as also the aftermarket. We are, as you know, supporting more than 30,000 vessels. In my view, I think we have never been better positioned for an upturn in the maritime market. In defense, I expect us to continue growing our business, driving the overall growth for the group. The business area is increasing capacity according to plan and to deliver on its significant backlog. Of course, also to continue to secure new orders. In digital, the last year has in many ways confirmed and reinforced the need for digital and remotely controlled solutions, where Kongsberg Gruppen, through KDI, has invested considerably in new digital solutions and services. Excuse me. I expect us to continue to strengthen and expand our positions in the market for dynamic digital twin, as well as within the digitalization of the vessel market. As Gyrid have already mentioned, it's also natural for us now to assess how to best proceed to fully unlock the KDI potential going forward. In general, our current position and future potential, combined with the experience and working methods obtained through 2020, as well as our continued focus on efficiency improvements and cost discipline, I think this equips Kongsberg well to reach the ambitious goals that we have set for ourselves. By that, thank you for the attention. I think we are ready for a Q&A session. Okay, we have received some questions from our viewers. The first questions are from Haakon Amundsen, ABG. Revenues in Kongsberg Digital fell by 7% versus Q1 2020. Do you expect fiscal year revenues in Kongsberg Digital to decline versus 2020? The full year revenues? It will depend on the COVID, because 50% of the revenues in Kongsberg Digital is from maritime simulation, and they have been hit quite heavily by the COVID. With all the academies being closed, it will depend on that. We don't believe in a decrease in the top line, even if we include the maritime simulation. Okay, a couple of questions on Kongsberg Defence & Aerospace from the same viewer. Kongsberg Defence & Aerospace delivered yet another strong EBITDA margin in Q1. Was there anything particular causing this performance? As I addressed also, I think the margin are developing quite healthy. When we, from the capital markets day last year, guided on 16%, we are beating that definitely, but it's a whole picture. In terms of that, I addressed NOK 40 million in extraordinary reassessment from their Defence area. Otherwise, it's actually developing quite healthy. The project developing healthy, the margins are developing healthy, and they are very effective project execution area right now. Also a very beneficial portfolio with a lot of international contracts. Last question from the same viewer. With regards to contracts, it is actually three questions. First, do you have any updates on the Qatar contract? What I can say is that the dialogue is now back on track, meaning after the COVID, let's say, lockdown. We have people on the ground down there, and it's picking up. The dialogue is picking up, and we look forward to continue the dialogue with the governments and end users in Qatar. Second, with regards to NSM to Germany, what can we expect here? As I mentioned in my presentation, the agreement is signed between Norway and Germany. We expect that we will conclude the submarine contracts sometime this year. Of course, Germany have then committed to buy NSM for their frigates programs. We expect quite a lot, to be honest, on the missile side, both for the NSM but also for next generation missiles together with Germany and Norway. A question from Kenneth Sivertsen, Pareto. With regards to Kongsberg Maritime aftersales, could you indicate the level that it's running at in Q1, and how you expect it to perform going forward? As I said, we see some positive signs at the end of the first quarter, actually in March. It doesn't seem that optimistic in January, February, but out of the whole, it's approximately the same portion of revenue to Global Customer Support. We are following, monitoring it quite tightly. Again, we saw some more positive trends, but it has been a hard year for those as well. If I may add some comments is this is still quite, let's say, we have to handle this aftermarket due to the restriction in a different way than we would normally do. I would say that in my view, there is positive signals now in the aftermarket, both when it comes to upgrades, as I mentioned in my speech. We see more owners wanted to do green upgrades. Of course, as the restriction are lifted, I'm quite positive for the development in the aftermarket, hopefully, going forward. Okay, a question from Sindre Sørbye, Arctic Asset Management. Were there any items of one-off nature in the EBITDA in Q1 apart from lower cost due to COVID? Only the $40 million that I mentioned from the defense area. We have two questions around KDI from Haakon Amundsen, ABG, as well as Martin Brennemoen. I will read both questions. Is there a timeline for a potential listing of KDI? With respect to your comments around KDI, can you give some more color on a potential process towards a listing? For example, will you look for industrial partners first, and what is your timeline? You start that. I think as we have said, we are considering and assessing different alternatives. One of the alternatives is to find a partner to KDI and other alternative is to list KDI. The timing here is not decided and will be considered as we go along. I think it's several factors to consider if we're going to do either or when it comes to this. I think it's not a secret that it has been a massive interest for KDI, both from industrial partners, from financial partners, and also to do a listing of the company. In terms of timing, it's all about timing when it comes to listing. We will have that option in the toolbox as well. Having that said, we are Kongsberg Gruppen, and it's a Kongsberg DNA. We want to do things the proper way, and we feel that over the last year, the company has developed healthy and the KPIs are moving in the right direction. It's now that we feel that we can have all those assets in the toolbox for us. Okay, the final question from the webcast from Carl Matthiessen. How do you expect revenue synergies between Commercial Marine and Kongsberg Maritime to develop going forward? Is the NOK 200 million per quarter that you had in Q1 in a way normalized level? No, I think this will actually increase. I think I've mentioned the harmonization program between CM and KM that is ongoing. It's a three-year program. We are at plan or ahead of the plan. I think as this harmonization program is completed, we will also see further increased cross-sales. I'm very pleased with the level that we have today, to be honest, because it's not that long time since we have been fully integrated. I expect that to continue to grow and also to, let's say, get positions in other segments than we have today. Thank you. That was the final question from the webcast. Okay. I once again, thank you very much for joining us this morning, and have a pleasant Friday and a good weekend when that time has come. Thank you.