Good morning, everyone, and welcome to Mintra's Q2 and H1 presentation results for 2021. I'm Kevin Short, the CEO of Mintra. I'm joined with Ian Mackie, our CFO, for this morning's presentation. It'll be around 20 minutes. There'll be time at the end of the presentation for a Q&A. Should you have questions as we go along, please put them in the chat box and we'll pick them up, as I said, at the end of the presentation. The agenda for this morning, I'll focus on our highlights for our performance during Q2. I'll hand you over to Ian, who'll give you an in-depth financial review. He'll come back to me for a business review summary and outlook to what we expect in the rest of 2021 and into 2022. As I said, there will be ample time at the end of the presentation to answer any questions which are posed during the presentation. As a gentle reminder, Mintra provides mission-critical eLearning and human capital management software for compliance-driven industries. When we look at our Q2 highlights, we see continued quarter-on-quarter improvement in our eLearning revenue line. Revenue up 7% based on our Q1 figures, with an increase in our revenue share from our agnostic marketplace. During quarter two, we completed and launched our maritime library. We extended the number of titles, which allows us to really focus on addressing that large, untapped maritime market that's available. Also during quarter two, we saw our HCM software revenues pick up by 7% on quarter one after that dip in quarter one, which we explained in our last presentation. We've seen a couple of installations that were delayed in quarter one come into quarter two, allowing us to increase our revenues, and those revenues are set to increase at subscription levels during the rest of H2 2021. That gives us the opportunity to reiterate our outlook and guidance. Our revenue growth in terms of our organic revenue growth should end the year at around 10%, with a corresponding EBITDA margin in the range of 35%-40%. We continue to be cash generative, and we are well-funded for the future and further growth that we'll talk to you at the end of this presentation. I'm going to pause right now, hand you over to Ian, and he's going to take you through our financial review. Thanks, Kevin. I'm going to take you through a few financial slides around Q2 and the first half of the year. If we go to the first slide, as Kevin mentioned, overall, we're seeing a continued growth and rebound in both quarter one and indeed from quarter four 2020 in our numbers, albeit we're not quite back at those pre-COVID-19 levels. If you look at the graph on the right-hand side, we can see the underlying development on a pro forma basis, so therefore Safebridge is included in all three reported periods and the underlying EBITDA adjusted for listing and acquisition costs. You can see there the EBITDA has increased over 30% from quarter one and quarter two, and it's lifted that EBITDA margin back up to 33% in the second quarter from 25% in Q1. eLearning continues to be the main driver behind this sequential growth, and in the second quarter we saw growth in both businesses, both Mintra and Safebridge across this revenue line. Safebridge overall accounted for NOK 12 million of revenue in quarter two. The EBITDA contribution of Safebridge in quarter one was very small, and indeed, after acquisition cost was loss-making. The business turned around very quickly. It's now EBITDA-making, and indeed in quarter two, its EBITDA margins are actually comparable with the rest of the Mintra group. If we move to the next slide, we can take a deeper dive on those revenue figures for each segment. We saw the Mintra's eLearning business, excluding Safebridge, increase by NOK 2 million in the quarter from quarter one, and that's on top of the NOK 6 million increase from quarter four 2020. As I mentioned earlier, Safebridge added another NOK 12 million of eLearning revenue, just as it did in quarter one. HCM revenues returned to those quarter four 2020 levels following a temporary decline in quarter one as a result of the renewals where a number of our customers adjusted down the number of vessels and seafarers using the system. I mentioned in quarter one that we had undertaken two significant implementation projects. Now, these have continued in earnest during quarter two, and they will add significant additional HCM revenues later in the year, but for now are adding revenue to our consultancy line. I intimated in the quarter one webcast that we had planned to utilize our resources in our consultancy line on internal projects, creating additional titles for our eLibrary, and also for adding modules to our HCM software. As a result of that, we've seen a small drop in the consulting revenues quarter-on-quarter, albeit they remain stable, albeit at moderate levels. Moving to the next slide now, we take a closer look at the gross margins. Indeed, in both our main business segments, we can see a continued high level margin in both eLearning and HCM. Moving on now to the next slide. We can see that reported EBITDA in the quarter was NOK 18.1 million. Now that compares to NOK 10.4 million in quarter one, and on a pro forma basis, NOK 23.1 million in quarter two last year. The acquisition of Safebridge has added a little to our depreciation and amortization lines, but we report a strong operating profit of NOK 11.7 million in quarter two, and that's up from NOK 3.1 million in quarter one, and crucially, is the third consecutive profitable quarter. Net financial costs were NOK 2.4 million, and that's similar to the quarter one number of NOK 2.2 million. Now, the number in the quarter two in the prior year is skewed somewhat by unrealized foreign exchange gain on the retranslation of sterling debt of about GBP 21 million. Now, that actually partially reversed a loss in the first quarter of 2020 of around GBP 29 million. But focusing on the interest expense itself, it was significantly lower in quarter two, just as it was in quarter one. The profit before tax, as you can see, is NOK 11.7 million, and after tax is NOK 9.3 million. That brings the profit after tax for H1 to NOK 10.2 million. That compares to a H1 2020 reported profit of NOK 6.9 million. Moving on to the next slide, we look at cash. As we expect, Mintra is a highly generative cash business and continues to be. Cash flows were strong, with NOK 33 million in the first quarter from cash flow from operations. That increased to NOK 50 million by the end of quarter two, as the graph shows on the right-hand side. Cash flow continues to exceed EBITDA by some significant margin. There was a working capital outflow in quarter two. That was impacted by two reasons. One, we have seen a stretch in receivable days from our customers. We're working hard to bring that back down. Secondly, as Kevin commented, with increased usage in our eLearning, what we're seeing is that those prepaid bundles of licenses are now being used at a much faster rate, and as a result, our deferred income is reducing accordingly. However, we do have a strong cash flow, a solid financial position, and that leaves significant financial flexibility and room for expansion. If we move on to my last slide now, we can take a quick look at the balance sheet. As you can see, our cash position remains strong at NOK 175 million, and our equity ratio remains high at that 76%. With that, I'll hand you back to Kevin, who will take us through the main operational highlights of the second quarter. Thanks, Ian. I'll now turn to a business review and comment on the operational highlights that we achieved during quarter two. When we think about our revenue mix, our three pillars, we have our eLearning, we have our Human Capital Management software pillar, and then our third pillar being our consulting and bespoke in terms of a source of revenue. Our eLearning revenue up to 51% in terms of mix, driven obviously by the numbers of people returning to work, the increased usage that Ian referred to. Our HCM, our software revenue has gone up. We've seen those installs as they've come online during quarter two, and there's been a dip in our consulting corresponding with the increase in the other two pillars. Also in terms of our consulting and bespoke, that matches up with the work that was undertaken in building and developing our in-house maritime library. If we turn to the next slide, we'll see where the revenue mix comes in terms of sectors, and we're happy to say that in terms of energy and maritime, both now contributing over 40% of the revenue that we have achieved in quarter two, with obviously the other sectors giving us revenue at just under 20%. Looking at the next slide, and if we focus a little bit on the maritime highlights during quarter two, with respect to our eLibrary, we've added another 100 in-house technical and compliant courses, giving us an extended maritime library of over 230 titles. This allows us to cover that full scope of seafarer training needs. If you arm that with the superior functionality that we have inside our learning management system and the connectivity capability that our technology provides, when we look at that addressable market of 54,000 vessels, it gives us great optimism that we'll increase that footprint from 1,800 vessels to nearly doubling it to 3,000-plus vessels by the end of next year. We've already signed a couple of key new customers to Mintra when they've looked at the completion of that Mintra library. Also, when we think about our existing customers, they're already committing to an increasing spend based on that extended library, which gives us that significant revenue potential towards the end of this year and into next year. Moving to the next slide. When we look at our marketplace, our ecosystem, our agnostic ecosystem with those new courses, we've got over 350 Mintra courses inside there, with 2,000-plus third-party courses which are allowed to be accessed by our over 3,600 customers. The developments within here as we switch in the channels a little bit and start to target the SME customers, reducing the barrier to entry to access our ecosystem that is the marketplace. What we're seeing then is we're seeing an increase in our marketplace revenues, increase in the share. If we think about that in terms of quarter four at 30%, up to 33% in quarter one. Again, with those additional people coming back to work, the reduction in the barrier to entry, plus the new courses, we're seeing that increased in quarter two to 34% of our revenue mix. As we move on to the next slide, we also, when we think about our OCS, we still know that there's a large number of vessel owners that operate without a crewing or management system. We've looked at our cost model and reduced the barrier to entry by considering our implementation cost with our SaaS model, which allows us to target a huge number of competitive installs and bring those companies into Mintra, which is what we expect to see towards the end of this year and into 2022. If we focus on the next slide in terms of our actions with Safebridge, we brought Safebridge as an add-on at the end of quarter one. With that new Mintra maritime library, we're able to cross-sell that content to the Safebridge clients. When we think Safebridge more than quadrupled the number of maritime customers that Mintra had. With over 650 customers, we're able to push that new content into these customers and drive our revenues. Next slide, please. When we think about trade schools, trade schools has been an important strategy for us, during 2021. It's been hampered with COVID-19 and the low vaccination rollout in terms of what's happened in APAC. We are confident that we see some real traction in India. We have targeted one of the states. They have 400-plus trade schools, and we see, as I said, some real traction there, and we hope to see some great revenue on put towards the end of this year and into next year as we supplement those trade schools' education with our extensive eLibrary. Next slide, please. When we look at our KPIs, we look at our eLearning with over 2,600 courses now available and that increasing share of revenue from our marketplace. The usage of our software solutions continues to increase in both Training portal, our LMS, and OCS. Our predictable revenues remain high in the high 90% with our ARR at NOK 112 million during quarter two. Okay. To summarize our Q2 and to outlook to the rest of 2021 and into 2022, we see that Mintra continues to occupy that cross-section of four major megatrends that we know exist in the world today. That increased desire, with respect to levels of education, taking on more education to ensure career and job opportunities. While people are coming back to work, there's no desire to get back into the classroom, so that education is being accessed by the digitalized format online and through the platforms that Mintra has. We know that there is a desire for regulated training, and we're pleased to say that the majority of the Mintra learning library comes from a regulated background. As we look to our customers, as they move to a more sustainable or green footprint, as they look at the changes in education that they need to ensure amongst their staff, they look towards their valued partner of Mintra to help them through that journey towards sustainability. If we look at H1 and into H2 on the next slide, progress has been made to help us deliver that growth in 2021, specifically in expanding our maritime offering. Those 100 new technical and safety courses that we produce will allow us to almost double our footprint and the vessels that access our training in the maritime sector. We are cautiously optimistic at a rebound in energy. We are seeing the number of POB, the personnel on board, normalizing in the North Sea, and therefore that desire, that increase in usage of eLearning. Our trade school channel looks set to take off towards the second half of this year as we focus on that one state with more than 400 trade schools, which we're targeting. That gives us confidence as we turn to the next slide to continue to reiterate our guidance that for 2021, our annual organic revenue growth will end at around 10%. Our underlying EBIT margin will be in the range of 35%-40%. We give guidance on acquisition. We have one add-on at the beginning of the year. We are working a number of opportunities. That looks forward to our medium term, when we think about our annual organic revenue growth of around the 15%. The tight cost control that Ian was demonstrating will allow us to achieve EBITDA margins of the 40%-40-plus%. We seek to get the one or two acquisitions a year around NOK 50 million-NOK 75 million. I'm going to pause right there, and I'm going to open up the floor to any questions, and we'll see if there's any questions that have been posted during this presentation. So far, we have no questions. We'll wait just a few minutes longer. It doesn't look like there's any questions coming. As such, I will close our presentation here this morning. Thank you for your time and attention, and wish you all a very good day. Thank you.
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