Good morning, everyone, and welcome to this fourth quarter presentation for Nekkar. I'm Ole Falk Hansen, the CEO of Nekkar, and today I will be joined by Marianne, our Head of Finance. Today's presentation will start with a recap of Nekkar value proposition. We will present the key highlights from our fourth quarter for the group, as well as the unaudited full year results. Furthermore, we will give an update on each of the portfolio companies' development in the last quarter, and Marianne will take us through the financial highlights. We will round off as normal with a Q&A after the presentation. Questions may be submitted through the webcast during the presentation. So let's move on. Nekkar. We are an industrial technology company with focus on efficiency and sustainable solutions for ocean-based industries. We have world-class expertise within industrial software, engineering, and complex project execution. Nekkar is an engaged, long-term, active owner in our companies. We are focusing on building profitable growth in all our companies, and we have an active agenda, including operational and structural tasks for our holding companies. Finally, we are flexible in terms of ownership and operating model for our companies. As an introduction, let me give you a short recap of our current business portfolio, which now consists of five entities. Syncrolift, the global leading provider of shipyard solutions for safe and efficient ship docking. Intellilift, industrial software solution, focus on automation and remote control system for drilling and offshore load handling. Techano Oceanlift, intelligent load-handling systems, such as crane, gangways, both for renewables, subsea, and aquaculture vessels. And then we have FiiZK, the leading provider of closed cage solutions, technical textiles, and software for the aquaculture industry. And finally, we have SkyWalker, the disruptive wind turbine service and installation machine for offshore and onshore use. The Nekkar portfolio is focused on ocean-based industries, as I mentioned, and more specifically, we are targeting these five business segments, as you can see illustrated on the, on the slide. We have Syncrolift towards the shipyard business segment. Techano is both towards renewables, aquaculture, and offshore energy. And Intellilift is delivering to all Nekkar companies, in addition to having its own focus on the offshore energy segment. FiiZK is a pure aquaculture player. And finally, SkyWalker, representing wind turbine installation and services towards a renewable market. In terms of the portfolio, the Nekkar entities is spread across the business life cycle, providing a balanced exposure towards generating solid financial results in the short term and providing long-term strategic opportunities for the future. As illustrated below, you will see our portfolio mapped from SkyWalker on the left side in the innovation stage, with focus on technology developments with partners as the key focus. And then on the right side, we find Syncrolift, which is the clear and dominant market leader for ship lifts, delivering solid financial results. So let's move to the fourth quarter results. We have delivered yet a solid quarter. The revenue for the quarter was record high, with NOK 179 million, which is an increase of more than 43% compared to the same quarter last year. EBITDA came in at NOK 32 million, equivalent to an 18% margin, which represents more than a doubling from the same quarter last year of NOK 14 million. We are maintaining a strong balance sheet, with close to NOK 200 million in cash, which represents close to an increase of NOK 30 million from the third quarter last year. We see strong fundamentals going forward. We have a backlog of around NOK 800 million, and furthermore, the order intake in the quarter has been solid, with NOK 242 million in order intake. Additionally, we are glad that we so far this year have started the year by securing an additional ship lift contract for Syncrolift, for design and engineering and with an equipment package option. So let's move to some operational highlights. In Syncrolift, we continue to see solid execution of projects. Also, the service revenue has increased more than 30% year-over-year, closing in almost at NOK 100 million. On the sales side, we received an order of $50 million for a ship lift contract in Indonesia, which was signed in the fourth quarter. Intellilift are finalizing the full scope of the Transocean Norge rig for Wintershall and are receiving good customer feedback. With Techano Oceanlift, we were successfully awarded the second crane contract at the end of December for an offshore vessel with Agalas and the Sefine Shipyard. Our new Techano Oceanlift entity now has two large projects in the project portfolio. For Impact Technology Ventures and SkyWalker, a Nekkar-led consortium was awarded a NOK 75 million grant to develop SkyWalker as an offshore major component replacement tool over the coming years. I will explain you some more of this later on. Finally, for our latest co-investment, FiiZK, we are now moving from restructuring to more business operations. The closed cage business unit is testing out improved solutions, and we are also glad to share that we have strengthened the team with a new Group CEO with strong operational and aquaculture experience. Jan Erik Kvingedal will join the FiiZK team in the coming months. So let's look a bit more into the financials. As I mentioned, in Q4, we have seen a solid revenue of NOK 179 million, which is an increase of 43% from last year's fourth quarter. Also, the EBITDA of NOK 32 million represents a margin of 18% and more than a doubling from the same quarter last year. And the margin level is also in line with historical averages for the last quarters, as illustrated on this slide. For the full year of 2023, we ended up with revenues of NOK 575 million, which is a record high yearly revenue for Nekkar, and close to a 50% increase from last year. Also, the EBITDA has shown a good development, with a 60% growth from 2022, and ended at NOK 109 million, which represents a 19% EBITDA margin for the year. For comparison, the 2021 results were significantly impacted by substantial project releases related to a significant amount of projects being closed, closed out. Please have that in mind. In terms of order intake, the fourth quarter was driven by the new contract for Syncrolift, as well as the new crane contract for Techano Oceanlift. The backlog going out of 2023 is solid at about NOK 800 million. Please note that the figure does not include the announced contracts in 2024 for ASMAR. Okay, let's dive into Syncrolift. On the market and sales side, as I mentioned, we secured the $50 million ship lift and transfer system order for PT PAL in Indonesia. And on top of this, we received a contract in Chile earlier on in this quarter, which also includes a $24 million option for the equipment package. And as mentioned before, we continue to see high tender activity both within new builds and within services. In terms of financials, we see a 26% revenue growth from the same quarter last year, and service activity has been increasingly steadily, with 33% year-over-year growth. And also, we are proud that Syncrolift is continuing to deliver stable EBITDA margins, with a total of 25% EBITDA margin for 2023. For operations, we have good progress on all ongoing projects, and we are also glad that the commissioning of the Cochin Shipyard lift in India was finalized in the fourth quarter. As already mentioned, three new contracts are secured recently, and you will find more information about this on the project on this slide, where you see those two projects announced. So looking back for the last year, Syncrolift has been awarded several major contracts, which emphasize their leading position for safe and efficient ship lift and ship transfer systems around the world. And as you can see, this represents approximately NOK 300 million in order intake for Syncrolift, which has been booked over the last 12 months. Let's look into some financial figures for services. Our service strategy in Syncrolift continues to pay off in 2023, and service revenue ended at NOK 1 million, which represents a yearly growth in line with the growth we have seen the last years of between 30%-35% yearly growth. Service revenue now represents 18% of the total revenue of Syncrolift, and bear in mind that the projects business was record high in 2023. We are proud that we are maintaining the 18% level, and also shows our direction towards the target of above, of above 20% service revenue level in Syncrolift. Going forward, we continue to see a good outlook for the activity level of Syncrolift. Left side shows our backlog and our current expectations in terms of execution here of the total backlog of about NOK 700 million. As you can see, about NOK 555 million of the backlog is to be executed in 2024 and 2025, while the remaining is to be executed later on. On top of a solid backlog, we still see high tendering activity in the new build and upgrade segment. We estimate that tenders with potential worth around NOK 2 billion-NOK 3 billion are to be awarded over the coming two years. We are confident that Syncrolift will continue to maintain a strong global market leading position in these segments. So let's move from Syncrolift to Techano Oceanlift, which came into Nekkar from the start of second quarter last year. At the end of December, Techano was awarded a EUR 6.5 million contract to deliver an offshore crane to a new build subsea service vessel for Agalas and the Sefine Shipyard. We are glad that we could receive this second contract for the same ship broker and the same shipyard. Furthermore, Techano are developing a new series of offshore subsea cranes to meet increased demand for subsea operations and construction, all being electrified. For the financials, we see significant growth in revenues compared to previous quarters, as execution on the first contracts is progressing well. The margins in Techano Oceanlift are positive but still soft, which reflects market entry projects required to establish customer trust in the company's solution. In terms of operational focus, all eyes on delivering the two projects for Sefine Shipyard, which is already mentioned. A key purpose of acquiring Techano Oceanlift earlier last year was to re-enter the load handling and lifting segment, which Nekkar has extensive experience from. This latest contract and the previous award confirmed that this was a good strategic move, and we are delighted with the Techano Oceanlift team and the staff they have had as part of the Nekkar family. Our crane solutions are highly flexible and developed to fit the requirements of purpose-built vessels such as this one. Tapping into Intellilift's specialized competence to deliver an even more advanced crane solutions underlines the combined strengths of Nekkar Group when it comes to providing safe and cost-efficient lifting and load-handling solutions. Moving on to Intellilift, which is our software and automation provider to all Nekkar entities. Intellilift are pursuing new contracts for automation systems, and Intellilift is our joint venture together with Transocean and Viasat. We are now preparing a trial for a major oil company in the Gulf of Mexico for the second rig delivered from InteliWell. Also, Intellilift are tendering for simulators and other drilling controls. And, of course, there are Nekkar-related contract awards for both Techano and Syncrolift projects, which will give activity level and revenue for Intellilift company. In the fourth quarter, the majority of the activity level was related to finalizing the installation on the Transocean Norge rig for Wintershall. Okay, let's move to SkyWalker, which is part of our Impact Technology Venture portfolio. Our SkyWalker development started back in 2019, with an onshore focus for new build turbine installation. Now, the key is on the install base on bottom fixed turbines in Europe, with about 8,000 turbines already installed, where there is a strong need for more efficient maintenance and major component replacements for blades, gearboxes, etc. Of course, later on, there are opportunities to bring the SkyWalker concept and the SkyWalker tool to adjacent markets within the wind turbine industry. We are glad to share that the Nekkar-led consortium was awarded a NOK 75 million grant in December as part of nine industry innovation projects awarded by the Green Platform projects in Norway. The scope of the project is to demonstrate SkyWalker in an offshore environment by performing a full-scale major component replacement on an offshore wind turbine. The focus now for Nekkar is on developing and finalizing partner agreements, as well as project financing for the projects for the year to come. Let's finalize with the last entity, FiiZK. And in Q4, we have focused on completing the restructuring process that were initiated before Nekkar became a shareholder in the FiiZK group. We have successfully secured relevant intellectual property from the former FiiZK, which is now integrated into the new FiiZK group. FiiZK has undergone a significant transformation, segmenting its operations into three dedicated business units, being closed system, technical textiles and digital solutions, and each unit operates under its own management structure. In the fourth quarter, FiiZK delivered revenues of NOK 36 million and NOK -19 million after tax. The results are impacted by low activity for some segments and also restructuring related costs, and we expect 2024 to improve gradually throughout the year for the financial results. Finally, we are excited to announce that Jan Erik Kvingedal will join as our new group CEO in a couple of months. With his substantial operational experience in the aquaculture industry, we are confident that Jan Erik is a good recruitment for FiiZK. So to shed some more light on the FiiZK group, FiiZK has three valuable market positions within aquaculture. The technical textile business has 80% market share in the Norwegian market for lice skirts, and close to NOK 100 million in revenues related to lice skirts. For 2024, they are focused on streamlining production, making sure we meet our customers' demand. FiiZK Digital delivers software-as-a-service solutions for fish farming, production and planning, and 40% of all salmon produced in Norway is supported by our Horizon products. For 2024, the digital team is working hard to make sure our product offering continues to be the preferred option for the fish farmer. Finally, we have closed systems where we now also have integrated the Starfish solution, which have delivered 20 systems to fish farmers and completed more than 60 successful production cycles, with serialized treatments and impressive biological results, all with leading fish farmers being the operator. We believe this puts FiiZK in a unique position, and we are optimistic for the year to come as we are about to launch an updated closed cage design. Let's move over to the financials, which Marianne will present. Hi, everyone. I'm Marianne Voreland Ottosen, Head of Finance at Nekkar, and I will give you some more details into our financial performance for the quarter and for the full year. Let's start with our revenue. As Ole mentioned, we are thrilled to announce a record high quarterly revenue of NOK 179 million, a substantial increase of 43% compared to the same period last year.... Our full year revenue for 2023 also reached a record high, NOK 575 million, a strong 48% year-over-year growth. Syncrolift continues to be our primary revenue contributor, but we are very pleased to note increased contribution from Intellilift and Techano Oceanlift, both quarterly and annually. Moving on to profitability. Our EBITDA margin remained healthy at 18% in Q4 2023, a significant improvement from 10.9% in Q4 2022. Q4 2023 margins are consistent with the average margins we have seen over some quarters. Year-to-date, EBITDA increased from 17.5% in 2022 to 18.9% in 2023. Net financial items are driven by gain or losses on FX contracts, not qualifying for hedge accounting, Accrued interest income from our deposits. Additionally, net financial items in Q4 2023 includes Nekkar's share of quarterly net profit in FiiZK of about NOK -7 million. Profit for the period of NOK 28 million, compared with NOK 15 million in the same period last year. Annual profit reached NOK 83 million, a year-over-year growth of 152%. These strong profit results give us a fourth quarter EPS of 0.27 and an annual EPS of 0.78. Regarding sales, as Ole mentioned, the order intake in the quarter was NOK 242 million, with a total order intake for 2023 reaching NOK 478 million. Order backlog was NOK 803 million at the end of the fourth quarter, which provides excellent revenue visibility for the coming couple of years, especially also considering subsequent order intake announced in Q1. And lastly, CapEx. Net capitalized development cost, or R&D, was about NOK 6 million in Q4 2023, up from NOK 1 million last year. Annual CapEx spending was NOK 15 million in 2023, a reduction of NOK 4 million from the NOK 19 million spending in 2022. CapEx in 2023 is mainly related to our development of 3D crane and gangway for the SOV market. And it's worth mentioning that Nekkar received NOK 6 million in soft funding in 2023. Now, at year-end, I would also like to highlight some key financial figures for each of our portfolio companies. Syncrolift delivers a solid revenue of NOK 515 million in 2023, a year-over-year growth of 34%, and a strong EBITDA margin of 26% versus 25% last year. Syncrolift continues to show good project execution, together with a continued strong increase in the aftermarket business. Intellilift had revenues of NOK 34 million in 2023, which represent a significant 55% increase from last year. The solid EBITDA margin of 18% is unchanged from last year. And lastly, Techano Oceanlift, which became a part of the Nekkar group in the second quarter of 2023. Despite being newly established, Techano delivered revenues of NOK 30 million in 2023, with a positive EBITDA margin of 1%. The lower margin reflects Techano's position as a newcomer in an established industry. However, we anticipate seeing improvements in margins over time as we build trust with our customers, increase volumes, and introduce more unique product offerings. Then let's look at our balance sheet, starting with our assets. Nekkar has intangible assets at the end of 2023, of NOK 68 million, which is a decrease of NOK 7 million in 2023. This is primarily due to the Starfish technology being utilized as contribution in kind in the FiiZK transaction. This transaction reduced intangible assets by NOK 25 million, which exceeded the net capitalized development cost for the year. The majority of the NOK 48.9 million of financial assets as of Q4 are linked to our investment in FiiZK. The investment in FiiZK is accounted for according to the equity method. Moving on to working capital. As of the end of Q4, we have a working capital of NOK 124 million, which is mainly driven by temporary capital binding in projects in Syncrolift. This is a small increase of NOK 3.3 million since Q3 2023, and an increase of NOK 45.9 million since year-end 2022. The increase is firstly driven by higher volumes in general. Secondly, higher accrued non-invoiced production, especially from projects approaching key invoicing milestone. Project execution timing will give natural fluctuation in working capital levels from quarter- to- quarter. Derivatives financial instruments also contributed to the working capital increase this quarter and full year. By the end of 2023, our derivative financial instruments or hedging contracts had a market value of NOK 19 million, compared to a NOK -3 million at the end of Q3. The increase is due to the appreciation of the NOK against USD and Euro in Q4 2023. Nekkar's total balance sheet amounted to NOK 579 million at the end of 2023. We still have no interest-bearing debt and a robust equity of NOK 427 million, representing a solid 74% equity ratio. Then let's move on to cash flow. Operating cash flow for Q4 2023 is NOK +29.7 million, driven by a solid EBITDA in the period. Cash flow from investment in Q4 is NOK -4.8 million and is primarily related to CapEx. Cash flow from finance amounts to NOK 2.7 million in the fourth quarter, positively impacted by financial income and partly offset by cash spending related to the share buyback program of NOK 4.5 million. Looking at the entire 2023, the net cash flow and NOK +12.7 million. Factors contributing to this figure includes our strong EBITDA of NOK 109 million, offset by increased working capital of NOK 45.9 million, a cash contribution in FiiZK of NOK 25 million, expenditure in fixed and intangible assets of NOK 19 million, and a share buyback program totaling NOK 11 million. These elements explain why the cash balance hasn't seen a more significant increase in 2023. In summary, our financial position remains robust. The available cash reserve of NOK 194.1 million, together with the available credit facility of NOK 200 million, assures continued operational stability and strategic flexibility. Finally, I will give a couple of short comments about our capital allocation strategy. In the current market conditions, Nekkar is seeing several opportunities to grow our business with organic investment into our existing portfolio of companies and M&A for new businesses within our defined segments. Since we launched our buyback program in late August 2023, we have acquired almost 1.4 million shares in Q4 2023, at an average price of NOK 7.91 per share. This equals 1.3% of the total Nekkar shares. Total cash spending related to the program has been NOK 11 million at year-end, and the program is outsourced to Pareto, which takes independent decisions on the execution of the program within the boundaries of the MAR regulations. Ole? Thanks, Marianne. So let's soon move to the Q&A, but before that, I will make some conclusion remarks. We have seen a strong revenue and activity level and also EBITDA margins in the fourth quarter. We maintain a good backlog and a good tender activity, which will create good visibility for all our companies in the coming months and quarter to come. We believe that the Nekkar portfolio, including our five entities, is well-positioned for both the current and the future market environments. So with this, we will finalize the presentation and move to the Q&A section. Thank you,[inaudible]. I would say we are very satisfied. Intellilift had a very high and record high, actually, activity in 2023, with both new build and service business having high revenues and strong EBITDA margins. Intellilift delivers a strong revenue increase of 55% in 2023. Techano has delivered NOK 30 million of revenues in 2023 in only three quarters. As I mentioned, the margins for Techano is soft. We are confident that the strategic pricing, the excellent Techano team, combined with the introducing more unique product offerings, including Intellilift solutions, will support the Techano in the journey of establishing a strong industry position, and will lead to increased volume and higher margins over time. ... Thank you. Yeah, there are, especially the technical textiles, and the analyze the business is seasonal. And you could say that Q4 and Q1 are the slowest months, and Q2 and Q3 are kind of the highest quarters. And that's due to kind of the seasonality of the farming business. For the other entities, digital and also closed cage solutions, it is more of a yeah, a normal operation all year around and less seasonality. In terms of the financial results, as I mentioned, they are now in Q4 impacted by the restructuring that we have more or less completed. And of course, we have started some of these businesses from scratch with zero customer contracts. We expect that throughout 2024, we will move from negative to positive numbers in the FiiZK group. Yeah. So we own about 39% of FiiZK, and our investment is accounted for according to the equity method, which means that we account our share of FiiZK net profit in our net finance. And that share will either increase or reduce our investment in FiiZK in our balance sheet. So, Yeah, and in Q4, that was a NOK -7 million, which is part of our net financial items reported. Yeah. Yeah, we've seen a quite high accrued non-invoiced production and also receivables the last couple of quarters. That's related to the project business in Syncrolift and the timing of those projects. For sure, when those projects reach invoicing milestones, we will be able to invoice and then convert that to cash. The specific timing is difficult to say, but it's natural to assume that over the next few months and couple of quarters, we will see that converted to cash. We also then expect somewhat lower working capital levels in 2024. Thank you. Question to you, Ole, regarding Syncrolift: How has your win rate in Syncrolift contracts developed over time? Yeah, I think we have. In the second quarter, we presented the win rate figures. And, I think as we mentioned already, the, at that time, you need to look upon this a bit into kind of over a few years, because there are, fewer projects every year, and of course, one year it may be 100%, one another year may be 0%. With the win rate we have had over the last 12 months, we believe we maintain our kind of leading market position and kind of secures more than half of the contracts which are out there. We still have the target to retain our market share in terms of new build and order intake, as we have had over the last decade, which we presented in Q2. Thank you. When you sell a new Syncrolift contract, how much value would be attributed to services? Yeah, normally, kind of the contracts are separated, so kind of you, you enter into a new build contract, and then, as the project kind of executes, before it's taken into operations, you at the same time are negotiating and landing a service agreement. So they are kind of separate. And the revenue level is, of course, very dependent on what type of services we are providing and of course, also what service performance level we are delivering. And of course, we would like to have more stable long-term contracts by taking responsibility for part of the scope by having a kind of a yearly fixed revenue, and then, of course, invoicing other things as they are wear and out. Almost like a service agreement for a car that you're able to buy. Thank you, Ole. A follow-up question to this on Syncrolift services. I know you probably won't give a specific figure, but you can give some indications on what is the margins for your service revenues for Syncrolift? Yeah, I think we are actually... They are quite in line with the project business. And you could say what's special about the Syncrolift business is kind of the combination of high margins in both projects and services. So, with the current service level as we have today and the current project activity level, we are kind of maintaining a, I would say, almost an equal margin level in those two businesses. Thank you. Question, I guess that's to you, Ole. Do you have anything to share about what you are going to do with the, with the shares you acquire, through the, the current buyback program? Yeah, at the moment and kind of what was approved by the general assembly, we have said we keep those for company purposes. And we are continuing to execute the program in accordance with the general assembly decision, and we have the optionality and the flexibility to use that for several company purposes as are listed in the assembly decision. Thank you. Question to you, Marianne: Could you elaborate on your FX exposure and how you work with hedging? Yes. As most others that work internationally, we are exposed to currency volatility. At Q3, we did a minor change in our EBITDA definition, and we isolated the Agio and effects from hedging contracts not qualifying for hedge accounting in our net finance, instead of hitting our EBITDA. So that's one thing, but of course, we are hedging our projects and our cash flow, which reduce our currency exposure. However, we will still see some currency impacts in our figures. I could also mention that we have quite a lot of natural hedging in our projects, as we have both revenue and cost in the same currency, which naturally also reduces the exposure. Thank you very much. We have a question about how the current order backlog do you expect to execute in 2024? I guess, Ole, we provided some figures on what is expected for execution in 2024 and 2025, but on slide number 16, but do you want to add some more flavor to it? I think we kind of stick to those figures, and bear in mind, those are Syncrolift related figures only in those 555. And of course, execution timing is, of course, impacted by also factors outside of our control, and that's why we will not provide specific guidance on 2024 isolated. Thank you. Another question to you, Ole: Are you going to continue the share repurchase program, all the way through 2024? Yeah, we have a mandate and a decision to continue that until the next general assembly. And the plan is to continue according with that. And of course, as Marianne mentioned, we are kind of operating under the market regulation framework. So of course, there are limitations in terms of volume and based on trading volumes, in terms of how many shares Pareto are allowed to buy within that regulation. Thank you. Another question to you, I think, Ole. Can you say anything about how large the restructuring costs of FiiZK were in Q4? I think it's fair to say that kind of Q4 was kind of a mixed bag in terms of results. Because as I mentioned, there were a restructuring in terms of both some downsizing, some one-off costs in terms of starting up again, and also that some of the businesses, especially the closed cage business, had kind of a start from zero in a new entity, getting the employees and all the IP and assets into the new entity, but still having no customer contracts. So of course, it's as expected, the development, and we plan to see that development turn from negative to positive throughout this year, as both the closed cage business hopefully get contracts, as well as the other businesses... either gains more momentum or gets into higher seasonality quarters, which will especially for the technical textiles take place from Easter onward. Thank you. A couple of questions about SkyWalker. And I guess, Ole, that's to you. Regarding SkyWalker, I wonder, how do you approach the market? Will you operate the technology, offering it as a service, or will you sell the technology to wind farm operators, or a combination of both? Yeah, I think that's a very relevant question, which we are all very focused on now, and I think there are many options for SkyWalker in terms of how it's brought to the market. We are discussing that now together with potential partners in terms of finding a commercial value proposition for going to the market. Of course, that could be several elements. One could be to offer it as a service, as a tool that we rent or sell. Another one could be to package it together with a vessel and sell kind of a vessel equipped with SkyWalker. And also a third option may be to equip a vessel with SkyWalker and people in order to kind of operate the full scope of a blade or gearbox replacement for the operator. And the customers may differ between these models. It may be the OEMs, the wind turbine manufacturer, which has a warranty period and takes responsibility for several of these repairs, and it also may be the developers which owns the wind farms through the whole life cycle, and of course need to perform maintenance and modifications throughout that period. And, of course, it could also be vessel owners by equipping it. I think we are very focused now on both kind of securing a good consortium and partnership for the Green Platform development project, which will then build and test SkyWalker offshore, but also having a good go-to-market model when we have finalized the project and are launching it into the market on commercial terms. A related follow-up question to that topic on the SkyWalker, Ole. What do you consider the main challenges to be with regards to taking SkyWalker to the market? Of course, this is a highly innovative product. But it's based on known technology elements from the offshore oil and gas and lifting industry. So I think kind of we are used to handling these types of loads, waves, current, motions, et cetera. But of course, in all developments, there are technology risk which we need to focus on. And of course, secondly, we are here going to integrate and kind of lift the machine onto a turbine. And of course, there is an interface with the turbine, and that's also why we are working very closely with the related partners in terms of securing that interface and handshake between SkyWalker and the wind turbine being installed. But of course, if we look on the market fundamentals, and of course now several offshore wind farm developers having significant costs, either for repairing bottom fixed offshore with limited wind turbine jackup installation vessels at high cost, and also those transporting floating turbines to shore to do repairs, we believe there is a clear market and also an interest of getting new solutions to the market. Thank you. Question: You have developed several new products in recent years with great success. Are you developing other new products in a different niche? If yes, can you add some color to it? Yeah, let me try to answer a bit generic, how we do developments. I think all our portfolio companies are doing product innovations and developments within their kind of space of products. Syncrolift does that, Techano does that, Intellilift, FiiZK, etc. And of course, that's part of kind of maintaining and positioning your company within the relevant markets. And on top of that, we have kind of this Nekkar Innovation Impact Technology Ventures, where we have had two projects, SkyWalker and Starfish. And Starfish is now part of FiiZK, as you know, and then we are left with SkyWalker project. Currently, we have no other large project developments into Impact Technology Ventures, but there are several smaller developments with shorter time to market in all the portfolio companies. Thank you. That covers all the questions we have received today. I have been notified that you could... In the beginning of the Q&A, you couldn't hear my voice and my questions, but I think Marianne and Ole's answers were sufficiently detailed enough for you to understand what the question was relating to, so hopefully, that didn't cause too many problems. If not, we can always contact Nekkar at ir@nekkar.com if you have additional questions. So with that, Marianne and Ole, it's I think we will conclude the presentation and wish everyone a good day. Thank you. Thank you.