Welcome back. It's a pleasure for me to welcome you to the first of two company presentations today. The purpose of these presentations is to give you a deeper insight into the business and uniquenesses of Kongsberg Maritime and Kongsberg going forward. The presentations will not include financial guidings or future financial ambitions. Both companies will invite two Capital Markets Days in June, where this will be addressed. Lisa Edvardsen Haugan has been with Kongsberg since 2007, and Kongsberg Maritime since 2014. In November 2022, she took the role as president in Kongsberg Maritime. In April this year, she will become the CEO of the standalone company, Kongsberg Maritime. Before Lise enters the stage, please take a look at this. Maritime shipping is the backbone of global trade, carrying more than 80% of all international freight. Maritime assets are vital for all transport at sea. In every segment, customers face stricter regulations, higher expectations for vessel performance and energy efficiency, and rapid digitalization. The global fleet is aging, and the pressure is on to make smart investments that deliver value both now and in the long term. In this transition, Kongsberg Maritime stands out as a unique partner across the entire industry, serving everything from offshore vessels to the rapidly expanding naval sector. We are a global provider of mission-critical maritime technology, integrating hardware, software, engineering, ship design, and digital services into complete solutions for advanced vessels. With an unrivaled product portfolio and more than 200 years of maritime heritage, we have consistently led the way, pushing the boundaries of maritime operations. Today, our systems and solutions are installed on 1/3 of the global fleet. Together with our customers, we design and equip advanced vessels and support them throughout their entire lifespan. Through deep domain knowledge, digitalization, and seamless integration, we ensure every onboard operation is optimized. We are building tomorrow's vessels today. Kongsberg Maritime is truly global, present wherever our customers operate. This makes us resilient and adaptable in an ever-changing world. With 8,000 dedicated experts worldwide, we create innovative, award-winning, and secure technologies, ensuring we remain our customers' first choice. A very good morning to you all, also you following us on the web. I have been really looking forward to this day, the opportunity to present Kongsberg Maritime and give you the full KM story. This is the first presentation we are having as the new company. I'm really also looking forward to continue the dialogue with you going forward. As you all know, we are not a new company. I do believe there is an untold story here. Today marks the beginning of us providing you a better understanding of how we are contributing to the maritime sector. Let me start by giving you some highlights about why we are so uniquely positioned and why we will play a key role in transforming the maritime operations. We are a market leader within maritime technology. We are providing products, solutions, and integrated systems both for new builds and also for the aftermarket. We are serving the vessels throughout the entire life cycle, and we have a global operation running 24/7. We are well-positioned to be transforming the maritime operation, focusing around vessel performance, energy efficiency, and digitalization. We have a really strong track record as well. We have, since 2021, doubled our revenue and more than doubled our order backlog. We are therefore both humbled but also very committed to continue developing resilient business models to ensure consistent value creation. Together with me to navigate this ship, Kongsberg Maritime, I have a very experienced and competent team that both have good knowledge about Kongsberg Maritime and our operation, but also very good insight into the maritime industry. Together with us, we have more than 8,300 maritime experts. 40% of these expert are based out of Norway, while the remaining employees are working and are strategically located around the globe. We are first and foremost a technology powerhouse. It's extremely important for us to be in the forefront of our industry. That is why we are also having more than 50% of our employee base as engineers. Today, we spend around 7% of our revenue into research and development. That comes on top of the development activity that are also taking place in the delivery contracts. I believe that's why also so many customers has trusted us, and that you will find more than our equipment on board more than 30,000 vessels. That counts for 1/3 of the registered IMO fleet. The maritime industry is a global industry. That is why we are also having a global network. We are present in 35 countries with more than 100 locations. This is also truly our unique competitive advantage. It makes us resilient, agile, and capable of adjusting to changing frameworks conditions. Also, it ensure us that we are having a customer closeness, that we are perceived as a local partner. Through collaboration with strong partners, in all regions, we are also capable of tapping into innovation and development that are happening around the globe. In a world where we are seeing geopolitical tension and also changing framework conditions, I think building robustness is key. That's why we will also, going forward, continue to make sure that we have a strong global presence. We are truly coming from a position of strength. We have established ourself as quite a sizable and leading supplier of maritime equipment. We have, in average since 2021, grown our revenue with 16%. We have also, since 2021, in average, grown our order backlog with 24%. This forms a solid fundament and also strong visibility when it comes to further revenue growth. It's important that you keep in mind when you are reviewing our order backlog that the aftermarket has a different nature than the new building market. Approximately 70% of our revenue within the aftermarket comes as revenue the same year as we are taking order intake. How does our customer journey look like? It very often starts at day one when the customer is thinking about ordering a new vessel. We come in with concept advisory, and we can also provide our ship design services. Today, more than 1,000 vessels are sailing out there with our design. We are offering not only our products and solutions to the new building market, we are also offering it to the aftermarket. Let me walk you through the vessel that you are seeing behind me now, and let's start at the top of the vessel with what we define as the brain. The brain is the bridge solution and also the control center. If you move further down in the vessel, then you are coming to the heart of the vessel with the energy and power management system. To bring it all together, you have the nerve system, which is the automation part. Of course, you need something that can also move the vessel forward. You need to have a propulsion system. To ensure a smooth operation when the vessel is out there sailing, you can also get our mission-critical handling systems. Also, when that vessel is out in operation, we can also provide you with simulators, so you can train your crew on doing that specific marine operation and strengthen the decision making. To unlock the full potential of the vessel, of course, we are also having digital offerings, not only to support the crew on board the vessel, but also to have a good fleet management onshore. Of course, our customer can also support, supporting them 24/7 around the globe. What is truly the uniqueness of the Kongsberg Maritime portfolio? It is the breadth of our portfolio in combination with the broad segment coverage. This is where the uniqueness lies. The reason why we are capable of bringing integrated systems into the market is because we have been within this industry for more than 200 years. During those 200 years, we have built up a really strong domain knowledge about marine operations. It is this knowledge that we are using when we are coming up with integrated systems, integrated systems that makes this vessel operate safer, greener and smarter. I also strongly believe that is why so many customers have trusted us and made us their key partner, not only when they are building a new vessel, but also through the entire life cycle of the vessel. You know, a vessel can live for quite many years. If you look at an offshore vessel, very often lives between 25 to 30 year, merchant vessel 20-30 years, cruise vessel very often more than 30 years. It is our strategic priority to ensure that those vessels are compliant and relevant throughout their entire life cycle. I have now given some insight in Kongsberg Maritime and who we are and what we do. Let us go into the market development and the market drivers. More than 80% of all transportation of goods happens at sea. Let's be honest, there are no real alternative. With global economic growth, we are also expecting evolving consumption patterns and also increased maritime growth. 2024 was the warmest year ever. We know also that 2025 will come in amongst top three. There are some climate change happening around us. For the maritime industry, we have therefore for a really long time been talking about the two Ds. The two Ds being decarbonization and digitalization, and they go hand in hand. While decarbonization is very often around the focus of energy efficiency, and I must also add with energy efficiency comes also cost efficiency, the decarbonization is also very strongly linked to digitalization. In order to enable digitalization, you need to have connectivity. With connectivity comes also requirements of cybersecurity. All of these are making the vessels more advanced. It's important that when we are delivering new technology to ensure that we are also delivering increased customer value. In a world that are having increased geopolitical tension and of it in the newspaper all day, we will also see increased defense spendings. There is now an increased interest also from the defense sector to look into how they can use the commercial products. That's why I'm absolutely certain that technology and innovation are going to be the very important enabler to solve some of today's challenges, whether it's around transportation, climate, security, safety, or energy. For those of you who know the maritime market, you also know that this maritime market is volatile. Our hedge to that is diversification, ensuring that we are offering our products and solution to a broad spectrum of segments. Let me give you one practical example of how we are doing this. I think this is a great example of a vessel that we have designed and equipped with our systems that are now showing behind me here. This is Godvik. For those of you who are wondering, yes, what you can see on top here is a modern version of sail. We have not provided those sails, but we have delivered a control system, and as I already has mentioned, it has our design and is fully packed with our equipment. This wind-assisted feature are calculated to save emissions with up to 19%. This vessel also has our propulsion system, Promas, on board, which we have seen a fuel savings around 6%. Not only is this a vessel that we as in Kongsberg Maritime is very proud of, this is also a vessel that have gotten recognition out there in the market. This vessel that you see behind me got the Next Generation Ship Award in 2023, handed out at Nor-Shipping. From one new building vessel to the new building market. Let's see how we have performed in the new building market, and let's start having a look at the graph behind me. If we used 2021 as a starting point, you can see that the number of vessels being contracted has gone down. When you are looking at KM's addressable market in value, you can see that that has had a positive development. Throughout this period, we have managed to increase our order intake with 150%. That we are truly proud of. It also demonstrates our capability of still executing our strategy, focusing around performance, energy efficiency, and digitalization. For those of you who have seen our press release today, I also need to mention that today we have also sent out a press release. We have now gotten four handysize tankers for Transpetro. Again, great examples of how we are now delivering more equipment and solution to segments where we previously had very little of equipment on. The value of this contract is a bit above NOK 300 million. I can promise one thing, we will continue to invest in innovative products and solutions across all segments, both organically and inorganically. If we look at the after market, we know now that the average age of the vessels are 23 years, and the order book to fleet ratio is quite low. We also know that there will be limited yard capacity next years. This we do expect will make an increased demand of our products and solutions for the retrofitting and upgrade purposes. Not only to make these vessels more energy efficient, but on reducing the OpEx cost, but also to prolong the lifetime of these vessels. Again, I think nothing beats practical examples. Let me give you two practical examples of what we are delivering of solutions towards vessels that are out there sailing already. Let's start with Hurtigruten. With Hurtigruten, we put together all the expertise and competence that are in Kongsberg Maritime. We formed a study together with our good customer, Hurtigruten. Based on this study, we made a recommendation to put in a hybrid shaft generator, to put in a new engine, batteries, to do some small changes to the hull design. To replace it with new propeller blades. We also put in a digital management system. Did some changes to the control system. This significant retrofit program reduced the emissions with 23%. I can also reveal that much that after dialogue with Hurtigruten, they have also told us that they are seeing quite significant fuel savings. Another good example of what we have done is together with Höegh Autoliners. Totally different vessel type, a car carrier. For Höegh Autoliners, we have replaced their propulsion system on board 10 of their car carriers with what we call Promas Lite. Promas Lite is a propulsion system especially developed for retrofitting purposes. Measurements of from these two vessels after they came in operation has shown fuel savings up to 6.5%. Another evolving market, naval. In Kongsberg Maritime, we are also working towards the naval segment. What we are doing towards the naval segment and how we are addressing that same segment is to bring in our commercial products, very often referred to as COTS products, commercial off the shelf. I don't think many people know that there are sailing more than 1,000 large naval vessels and coast guard vessels with Kongsberg Maritime equipment on board. We have also designed more than 20 different vessel types towards this segment. Going forward, our strategy is to bring more of our proven, reliable, and innovative products towards this segment. The benefit for the naval segment will be to have access to new innovations, and we also hope to challenge the existing cost level. We are seen in the commercial market as a frontrunner within remote and autonomy. Our remote and autonomy capabilities has recently been put into unmanned surface vessels, which Gabe was referring to earlier today. These are unmanned surface vessels that recently also had gotten an award. The Ship of the Year award was handed out in 2024 for the Project Reach Remote. This is also a very fast-growing sub-segment within naval. We are, of course, curious how we can utilize our technologies and capabilities into this segment. Going forward, what can you expect to hear back from us? We will, going forward, be reporting on two divisions. It's going to be Energy and Control and Propulsion and Handling. Both of these divisions have strong position in their core segment and very sizable product deliveries. When we are putting their products into integrated solutions, we get even stronger value proposition to the markets. There are strong synergies between the divisions. We also have some very important company-wide enablers. That goes around infrastructure for the IT and OT part, its digitalization, and also our focus on the emerging concepts and pilots. We will go more into the details of these divisions and their financial targets when we are coming back and holding our Capital Markets Day in June. To sum it all up and revisit what I started off with, why we are going to transform the maritime operation. We are going to do that because we are a market leader today within maritime technology. We have a balanced mix of deliveries to both new build and aftermarket, serving the entire life cycle. We have a global operation that makes us resilient and agile. We have been operating in this market, which we are now seeing some structural tailwinds coming through that will support further growth. We will also, going forward, be committed to delivering resilient business models and constant value creation. In the end, none of this would have been possible with all my amazing colleagues that go to work every day with a curious mind on how they can solve the customers' challenges. With that was all from me and from KM today. I will hand over to you, Jan-Erik. Thank you, Lisa. We will open up for questions, so please raise your hand and also introduce yourself before asking the question. We can start with a question from the viewers. You showed us the scope of deliveries from Kongsberg Maritime on that vessel. With regards to the digital offerings, how would you talk about that as kind of adding value into the deliveries? When we are talking about digitalization in KM, I very often like to refer to it as four factors. The one factor is how we are talking about having a digital life cycle, how we are using the sensors that are on board to do health monitoring, conditional monitoring. You probably know it already from the cars that you are driving. The cars tell you when you need to go to service. You don't do that every second year anymore. It's kind of the same that we are now introducing also towards the maritime market. The second part is how we are using application to have better performance of a certain vessel operation at sea. It can be applications supporting the crew, for example, when they are doing a DP operation. The third element is also how we are capable of integrated with the broader value chain. For example, when you are told that your vessel need to have some replacement of some of the equipment on board, we can, based on the knowledge of where you are, make sure that the spare part is available in the next harbor where the vessel is arriving. The fourth element is what I already have been touching into, is remote and autonomy functionality. We see that especially when it comes to remote, for example, DP operations, there is a significant potential also for cost saving going forward. Thank you. I have a question up there. Fabian Jørgensen from Pareto. Historically speaking, you've had higher market share for vessels that have more systems. Of course, you can grow within that niche with higher systems content or requirement. Considering now that the two Ds that the vessels become more digitized, for example, that should mean that merchant vessel categories where you've historically had a lower market share will need to have more systems in it. Yes. Does that mean that you also see a potential or a structural growth trend where you can have systems on more than the 30,000 vessels that you actually grow in terms of market share on the total IMO fleet? Absolutely. I think that's in the core of our strategy is how can we make sure that we are bringing more of our products and system into all kind of segments. To play on what you are saying also, I think going forward, in order to prolong the lifetime of the vessels, because there will be limited yard capacity, I think we will also see a lot of retrofitting coming through. We can replace also equipment on vessels where we do not have anything on board today. We can grow also this number of vessels that we are on board. Thank you. Just another question. You have now more than 1,000 sailing vessels in the naval segment. Read some figures that says that we need 1,000 new naval vessels going forward. How do you see the mix of naval exposure going over the next five, ten years? It's, of course, natural that we will look into how we can take a bigger market share within this segment where we are now seeing, quite significant growth. We will try to see if we can broaden the product scope that we are having already today, also into all these vessel types that are coming through in the naval segment. Finally, if we look back to the previous oil boom, you have EBITA margins of some 20% roughly around there. On offshore vessels, you have more content. Maybe you have some project scale that allows you to take higher margins. If you look back on the new build order intake for the last two, three years. Mm. It's been a very high share of offshore. Does that mean that your backlog now, at least in terms of the new build, implies that there's upside to margins going forward? Similarly, you would have a higher share of LNG carriers and offshore vessels executed on in 2026, 2027, 2028. We will come back at the Capital Markets Day around some more financial targets. Yeah. Thank you, Fabian. I can take one more question from the viewers. With regards to the demerger from Kongsberg, you have, or Kongsberg Maritime, have business with both Kongsberg Discovery and Kongsberg Defence & Aerospace today. Mm. Do you see any dyssynergies or challenges, when becoming a stand-alone company? No. I think we have been operating very autonomous already, as a business area within the Kongsberg Gruppen. I'm not necessarily seeing any dyssynergies that we haven't already calculated in. Of course, the collaboration with both Kongsberg Defence & Aerospace and also Kongsberg Discovery will continue going forward, even though we are now breaking up. Thank you. Any more questions from the audience? If not, we will take a 10-minute break before coming back with the company presentation of Kongsberg. Thank you, Lisa.