Good morning, and welcome to Mintra's Q2 and first half 2022 results presentation. I'm Kevin Short, the CEO here at Mintra. I'm joined this morning by my colleague, Torbjørn Blom-Hagen, our CFO, and together it's our pleasure to bring to you the results of quarter two in the first half, of this year. In the invite, for this presentation, there is a question facility whereby you can post any questions, which may, spring up during the presentation, and we'll handle those questions, in the Q&A session at the end of the presentation. If we look at the highlights for Q2 in the first half, of this year, that positive momentum that we've been talking to you about has continued. We have strong EBITDA improvement giving us a margin of 38% on quarter two and giving us 33% in the first half of 2022. Our operational cash flow just over NOK 55 million compared to just under NOK 30 million for the same period last year. We've continued to focus on our growth initiatives, we've seen improvement in some of our target areas. 8% year-on-year growth in our e-learning. Contract awards gone up to NOK 80 million as opposed to NOK 70 million for the same period in 2021. We've seen improvement in our digital sales from our direct channels such as the marketplace and our website where our sales have gone up to NOK 24 million as opposed to NOK 19 million for last year. Our focus in opening up new geographies has seen some real good results in terms of a 14% increase in the revenues that we're experiencing in the Asia Pacific area. Our annualized recurring revenue is at NOK 120 million, up from the NOK 108 million that we started this year. We have seen a 25% increase in the number of individual students that are active inside our training portal software, compared to last year. We continue to work with strategic partners that can address different parts of the world, signing in the quarter two significant partners for us in Asia Pacific. We have IBS in Dubai and Kineo in Australia. When we look back at Q2 in the first half, that positive momentum has continued to be experienced here at Mintra. For the rest of the presentation, I'm gonna talk to you about our strategy and our operations, hand you over to Torbjørn, who's gonna give you an in-depth summary of our financials for quarter two in the first half of the year. Handing back to me that we can focus on the outlook for the coming periods, and then as I said, that Q&A session at the end of the presentation. Mintra. We're experts in e-learning and human capital management software for safety-critical industries. We service over 2.2 million system users from over 4,000 companies that operate in some of the world's most challenging environments. We were established in 1997 in Oslo, Norway, and we have an international network of offices which allow us to facilitate the needs of our customers. Our business model is a disruptive business model with that global reach. We are a true one-stop shop, which allows our customers to develop in terms of e-learning, that transferable skill, with respect to HSE and safe working practices, and deploy, using OCS, which is our human capital management software, that allows our customers to manage their workforce on a worldwide basis to ensure safety, compliance, and efficient operations. When we think about our library, we believe that we have a comprehensive library that really facilitates all the training needs of our customers. We have over 2,200 courses supplied by us and over 60 training partners that reside inside our technology in the training ecosystem that we have. When we think about those courses, 28% of those courses are from Mintra-owned, 53% coming from the third-party training providers, and then we also have 19%, which is the physical training that's offered through our technology, allowing our customers to really yield that blended training opportunity through our technology, as I say. Our key growth initiatives remain the same. We see that growing requirement for both compliance, certified, and accredited training, expanding those third-party content and partnerships, giving us greater access to more customers. Increasing our system usage in terms of users, unique users inside of our technology, creating a truly immersive experience to allow our customers to reside there, whereby we can exchange a greater share of their wallet in future periods. Clearly entering into new geographies, giving us access to new customers and continue to drive our revenues. All of these initiatives are underpinned by a healthy M&A work that we carry out. You'll remember that last year we acquired Safebridge. We have been working long and hard to look at more acquisitions. Our guidance remains the same in terms of one to two acquisitions every year. The work that we've undertaken has taken us through many processes in the last few months, but we have a conservative approach. When opportunities or targets become economically uncertain for us or too expensive, then we step away. We really want to make the acquisitions which we feel are right and will enhance the value proposition of Mintra Group. Looking at that system usage in a little bit more detail, if I can drag your attention to the left here, and we look at the light green bars in terms of the quarter performance of individuals inside our training portal technology. Up to 115,000 in Q2. A couple of years ago, only at 58,000. Moving to the right, you can see in the last 12 months, we're over 300,000 users inside our technology. Clearly, a question which might strike you is, well, how come we've got more system users and not revenue growth to the same level? Well, for us, the important thing is to get those users into our technology. We know that once they're in our technology, once it's immersive, and they can get all of their training needs, and we can utilize some of the advancements that we make in technology, we know that potentially in future periods, there will be an opportunity for us to take more revenue from these individuals and the companies that they represent. There is a second benefit for this increased system usage, and that is the data. We collect an enormous amount of data from everybody that resides and interacts with our technology. That data gives us insights, clear insights into training and to trends, requirements, that we can look at content in terms of making sure that it's accurate and relevant for the student in future periods. Also, we can adopt and enhance our technology, again, to make that experience immersive, and again, for the future to allow us to extract more revenue from these individuals. When we look at the first half and look at the increases in order income, it has been significant. As I said, NOK 80 million in terms of contracts awarded in H1 as opposed to NOK 70 million for the same period last year. The majority of this is coming from a focus on the maritime sector. A couple of bullet points down, you can see that our maritime order intake has grown with 30 new customers coming to Mintra during H1. Our digital direct channels are up to NOK 24 million. This is a very effective and efficient way of onboarding customers and new customers into the Mintra Group. We've had several landmark wins in both energy and maritime. Six contracts in the last six months, greater than NOK 2.5 million individually, and 18 contracts each above NOK 1 million. Partnerships and accreditation are very important to us. Accreditation such as the Nautical Institute. The reason why we like the accreditation and certification of our courses is that when you compare, excuse me, courses like for like, a course which has the relevant accreditation from the relevant standards body will be sold and is more attractive to the end user. The Nautical Institute have accredited in the first half of this year 38 more courses for Mintra. Our partnerships with both IBS and Kineo allow us to access new geographies. Both companies take the products and the services inside the entire Mintra Group and provide those products and services to their customers, allowing all three of us to drive our revenues. When we look back at the first half of the year, I think our KPIs demonstrate that we have a very stable and healthy business. Our courses, as I said, relevance of our content, facilitating all the training needs of our customers. Digital share sales, the share, is at 33%, and we're seeing a continued increase in the number of individuals on our technology platforms. When we look at our revenues, they are very predictable and give us that ability to have that long-term view in the revenue generation here at Mintra. 95% of our revenues are predictable. Half of that are truly recurring. The other half come from customers that habitually turn to Mintra that we can supply all of their training needs. When you look at our annual recurring revenues, you can see great strides that we've made there, taking that figure to NOK 120 million as opposed to the 108 million NOK that we started the year with. I'm gonna hand over to Torbjørn now, who's gonna give you an in-depth analysis of our financial results for both Q2 and H1. Thank you, Kevin. Moving over to the financial results for the first half of 2022, we see that revenue ended at NOK 104.6 million in this period. That's 3% year-on-year growth. However, there was a strong improvement in the contract mix that increased the annualized recurring revenue to NOK 120 million, up from NOK 108 million at the beginning of the year. Gross margins remained stable at 87%, while operational cost base has significantly improved in the last six months. We see net savings of NOK 5.6 million in the first half, of which NOK 2.9 million is in the second quarter. This is also excluding last year's acquisition cost. We are now actually seeing the effects of several key initiatives across the group to realize synergies, right-sizing the organization, and controlling the use of external services. As a consequence, EBITDA landed on 38% in the second quarter and is now 33% year to date. That's an improvement of 20% in absolute terms. We're maintaining a stable CapEx level, somewhat lower than last year, and as in 2021, we did an extra investment in the maritime library to target this market specifically. Thus, this year, our EBITDA less CapEx margin is at 27.6% for the first half of 2022. Looking at the revenue mix, we see a stable picture with a 3% year-on-year overall growth, but with a high growth rate in the more attractive segments. e-learning business segment continues to drive the growth. We booked revenues of NOK 34.7 million in the second quarter and NOK 67.8 million in the first half. This is a total of 8% year-on-year growth. We see a positive trend whereby a larger share of the content now sold is subscription-based, and the segment contributed NOK 10 million to the increase of our ARR and NOK 5.7 million increase in the deferred revenue in the first half. The human capital management software delivered NOK 19.4 million in the quarter, an increase of NOK 1.1 million from Q1 this year. Again, we have some key wins in the OCS HR part that secures the backlog for this segment this year. We also see a clear improvement in the training portal with several key wins in the quarter, as mentioned by Kevin. We see higher activity from our clients around these solutions, and we expect to land several landmark clients in the near future. Consulting services delivered NOK 6.5 million in the quarter and NOK 15.5 million for the first half. This is in line with last year but somewhat lower than expected. This is due to the later project start-up for some of our new clients that we booked in earlier this year and also lower bespoke volume. However, due to the recent initiatives to rightsizing the organization, it has not impacted the profitability of the company. Moving to the operations, we achieved a very good operational cash flow in the first half. With the front-loaded business model that Mintra applies, we have an attractive cash profile with clients prepaying subscriptions and content early on in the year. This is normally evened out with the revenue being recognized throughout the year. However, with the many incoming new contracts in Q2, with this same front-loaded profile, the company has continued to generate cash in the second quarter. Operational cash flow, though, is at NOK 10.8 million for the quarter and NOK 55.6 million far this year. R&D spend is still kept at modest level with NOK 3.9 million in the quarter and NOK 7.3 million for the first half. This corresponds to 6% of the revenue and is in line with earlier projections. This means that, Mintra is again further strengthening its balance sheet. Our cash position is now at NOK 204.3 million, and operational working capital is an attractive negative 52.3. Equity ratio continues to grow and is now at 78%. We have still the loan facilities in place, but as they are due now in June 2023, these are moved to the current part of the balance sheet. As Kevin stated, we are still confident that we will employ this capital within this year, and we expect to refinance in second half of 2022 when it comes to these loans facilities. With that, I'll leave the word to Kevin to summarize and take you through the outlook for the company for the rest of the year. Thanks, Torbjørn. Over the next few minutes, I'm gonna focus on the outlook for Mintra over the coming periods. Mintra really does occupy that unique position in the crossroads of four key mega trends that we are witnessing in the world today. That desire for education from individuals to enhance their education to really maximize their career and job opportunities, taking that education online, taking it through digital means, taking it across a platform and on a timeframe that suits the individual. Making sure that that training, that education is regulated, assessed, certified by the relevant standards bodies, which they, once they've taken it, can demonstrate to would-be employers that they are competent to carry out the functions at hand. We also know that Mintra has a low carbon footprint. Our services are digital. We know that our customers that access our services are able to lower their carbon footprint by that very nature. Importantly, when we look at some of our customers, as they move towards sustainability, as they change the practice inside their organizations, there is a need for education. When they have that need, they turn to Mintra. We're able to supply them that training, that information, that technology that they need to help them through their journey through sustainability. The learning experience has to be prioritized in the future. It's not just about a volume of content. The content has to be quality. We have to look at the technology. We have to look at the learning experience to ensure that when the individual is inside our technology, the experience is exactly what they need to transfer that knowledge. We're looking at all types of technology such as virtual reality to help in that journey, extending the knowledge retention of the individuals that sits inside our technology and across our platforms, making that experience truly immersive, that whilst they're inside our platform, we can delight them, and they can continue to consume more of our content and training material. Clearly, once they're inside that, the data capture that we take gives us valuable insights into the training and the trends that are required to ensure that we can grow our revenues. Turning to maritime, there is a need for digital upskilling. We know that maritime companies are accelerating their need to streamline their operations, and they're doing that through digitalization, making them more resilient and competitive. We've seen, as Torbjørn has suggested, an increase in the revenues that we've taken in maritime through our digital solutions during this year. For us, our strategic priorities that will drive our growth is that growing maritime market share, cross-selling to our existing and new customers that come by towards a secure a geographical expansion through our partnerships is important to us as we look at resellers and third-party content providers to access or to give us access to more customers in more regions. We will continue to focus on increasing the number of users inside our technology, understanding and gaining valuable data insights which will allow us to enhance the technology, enhance the content, and improve the experience, and thus give us the opportunity in future periods to take more revenue from those people inside our platforms. Clearly we're gonna continue to focus on M&A, looking at established companies that have strong market positions that we can access their extensive customer lists to drive our revenues forward. That's the end of the presentation. We're gonna move to a Q&A session now. Before doing that, there's a couple of announcements on the investor relations that I would like to make. Due to that stability and that long-term visibility that we have here at Mintra, we're gonna make a couple of changes. We're gonna continue to report to you, but we're gonna report to you now on a six-monthly basis. We're only gonna announce those contract wins in excess of NOK 5 million. Thanks for listening to the presentation. We'll now move to the Q&A session. I must apologize, as you can see, we did have a few technical difficulties with the pre-recording of our presentation. I hope that you could see it. Obviously when we post it on our website later today, we'll ensure that those difficulties are removed. Perhaps we could go to the questions that you've raised during the presentation. Thank you, Kevin. We have already received a few questions, and the first one reads, "Could you explain the company's slow revenue growth? We've got revenue growth in the first half of the year, and it is slightly disappointing in terms of it's not to the levels that we would hope to be. We are seeing some positivity. We are seeing manpower returning to work, which clearly, as I've said before, drives our numbers. If we look at some of the real positives, our focus has been inside maritime, inside our e-learning. You can see a real positive growth, 8% year-on-year. Contract wins up to NOK 80 million from NOK 17 million last year. Again, that corresponds into the annual recurring revenue, which we're at NOK 120 million as opposed to NOK 108 million. What we're doing is we really are kind of like filling in our pipeline, and that will be revenue in the future periods that we will take. T he signs are very positive. The signs are heading in the right direction. Whilst it has been slightly disappointing for the first half in terms of the revenue arm, but we have grown in the areas that we're focused on. Torbjørn, do you have anything more that perhaps you could add in that? I think the order intake that we had in the first half speaks for itself. I think that will give us the backlog and the revenue increase that we expect going forward. I think we're building step by step, and all of the signs are pointing in the right direction. Great. The next question is, "Despite a growing market, there has been a decline in the HCM segment. Could you elaborate on that? I mean, when we look at our OCS business in human capital management, we look to onboard between 6-12 new customers a year. It was fairly slow last year for obvious reasons. This year, we've probably. Well, we have only onboarded 3, it is slower back. Are working through a number of key opportunities which Torbjørn and I mentioned in the presentation, which we hope will come to a positive sort of like conclusion in the next few weeks. It has been slow, but the signs are there that things will start to improve going forward. Great, the next question is, "You have an ambitious M&A strategy in place. Can you take us through how you're approaching these opportunities? Indeed, we have worked long and hard on that. I mean, last year we, I think Torbjørn and I and the team looked at somewhere, north of 200 opportunities. We worked a number of them through a detailed and long process. Got to even term sheets with a couple. W e walk away if we think they're overpriced, if we think that the value isn't what we would pay for it. We're quite conservative in our approach, as I said in the presentation. We like to be or to give ourselves the opportunity to be as successful as we can, as we did with Atlas and Safebridge in prior periods. The guidance is there. We do see opportunity in the market. We do believe that 1 to 2 acquisitions will come our way this year. There's, we're in a good place for that. We've got a good process, and we're comfortable with our actions on that. Great, and as a follow-up, we've got, "Can you describe the strategic rationale for an acquisition in the future and the size of potential deals and the type of valuation that those multiples are in? When we look at acquisitions, they kind of split into four areas in terms of our targets. The first one would be to on our e-learning business, if you will, to give us content that we don't have. Safebridge, classic example. The ECDIS, Electronic Chart Display and Information System, courses that they had gave us access to new customers, which allows us then to sell the rest of the Mintra Group products into those. Technology, we look at companies that will give us an edge. When we think about that learning experience, we want something which is truly immersive, any technology which will give us that opportunity to enhance the learning experience and captivate more learners. They're target companies for us. Geographies, we work with a lot of partners, sometimes partners can become opportunities, giving us that access to geography and customers that we don't have. I guess the fourth piece would really be in adjacent spaces. We could look at companies that are close in terms of safety-critical, but give us access to a vertical that we don't access right now. Torbjørn, do you wanna comment on the multiples and that side of that question? I think what we've seen is that we've been in some interesting processes for the last year, and I think we walked away on some of them. I think now in hindsight it's proven to be a good choice. We also see that multiples are coming down both in the public markets and outside. We're confident that we will achieve our targets in this respect and add 1 to 2 acquisitions a year. The next question we have is Mintra is now a retail stock, and retail moves on news flow. Why is it good to reduce news flow now, and can you again explain how you think shifting away from quarterly reporting is going to add value? For us it's the predictability, in terms of what we have. We have a long-term view of our business. You can see over the last few quarters that that's, what we've said we're going to do is happening. We feel that we will report to you, and we will report in to you in terms of those contract wins, those events which we think are truly newsworthy, and will really bring interest into Mintra. Could you discuss the quantum of price increases you're putting through and churn rates in the first half of this year? Churn rates are, as we've said, many times, we don't seem to have much churn. We have very loyal customers that stay with us for 15, 16, 18 years in some circumstances. Price increases, we've seen that there is opportunity for price increases. But you have to match that price increase with value in your service, and we're ensuring that we do that. W e do operate in a competitive environment too, when we look at prices, we look at what our competitors do, we look at what our customers can afford, and then we adjust and price accordingly. The share price has not been satisfactory, how are you planning to regain ground? We can't comment on our share price. W e will stick to our strategy. We think our strategy is a good strategy. We are seeing real gains in terms of obviously the highlights that we put forward for Q2 in the first half of the year. We believe that we have a very good, healthy company that is demonstrating its performance. We're profitable, extremely profitable. We're in control. We have a very good strategy, and we believe that ultimately we'll be rewarded by sticking to our strategy and ensuring that we as a company continue to grow. How does your sales pipeline compare today to 6 or 12 months ago, and how has your conversion rate changed in the past 6 months? Our pipeline is something we're really proud of. We put great efforts this year into changing our sales model, if you will. We've gone not from just the one-to-one sort of approach we've had, we've gone the one to many. We've gone through digital channels, partnerships, resellers, et cetera, and that has led to a significant increase in our pipeline. F or us, we try and get anywhere near NOK 180 million worth of opportunities in terms of Salesforce, which is the CRM system we use, at any one time. We've seen real growth in that, which has transpired, as you've seen, in the quarters in terms of the opportunities that we've won. On that opportunity win ratio, we're still at the same levels that we've been for, I'd say the last three or four years, which obviously shows that if we're increasing the volume and we're maintaining our conversion rate, that's why we're seeing the increases in our ARR and we're seeing the increases in contract wins and ultimately at the moment in our e-learning increase of 8% year-on-year. Can you talk about the pace of deals moving through your pipeline and also the customers' appetite at this point in time? Pace is interesting, it depends on the size of the business we're in. If we think about our HCM, OCS business, that takes a while. Those deals can go 3 months to 6 months to get them across the line, because they involve, massive or significant change in the customer. They take a little bit of time to get through. The pipeline in those, we try and get. Well, for us it'll be between 10 and 15 of those a year would be good. In terms of our e-learning, they can happen immediately. I mean, there are many tenders process that we go through with many of the more established larger customers and, clearly our churn rate being what it is, we're winning more of those than anybody else in the marketplace. With our direct sort of like digital channel outreach, we're getting many sort of smaller deals, smaller companies coming to us and, the, the rate to bringing them on board to getting revenue is very quickly. S ome instances it can be 30 minutes, and other ones it can be, a matter of weeks. That continues to go well. There is a difference between the different sides of the house in terms of our products. From an HR perspective, could you discuss the current head count and whether you think the business is operating at full capacity? The current headcount is just over 130. We're kind of split in combinations. Our most significant people, in terms of volume, are in Aberdeen, then Norway, and then Cyprus. We believe that we are well-placed, if you can look at the profitability. We're well-placed for growth. We have a very good back office, a very good processing, which allows us to add revenue, add customers at the top in terms of the funnel and convert that to profitable revenue in terms of the way that we are integrated and that we can process. In terms of optimum. We are an ambitious company. We believe that we will grow in future periods, and therefore there could be changes as we grow. We do believe right now that we are rigged for growth, as we would say, and that we can, be more profitable as we get more revenue coming on board. That was the last question for today. Back to you, Kevin. Thank you. Thank you, Karina, and thank you all for your time, your attention. Again, apologies for the pre-recording howler at the beginning, and I hope you can understand why these things can happen from time to time. Thanks for listening and please enjoy.