Good morning, everyone, and welcome to the Q4 quarterly presentation for Skitude Group. My name is Bent Grøver, and I'm the CEO. With me today, I have Ivar Blekastad, the CFO. For those of you on the webcast player, you can pose your questions through the system, and at the end of the presentation, we'll do our best to answer them. Skitude Group is a tech company that, together with our resort partners, are trying to improve people's lives. We're promoting active lifestyles, and together with our resort partners, we are facilitating people having fun with their family and friends in arenas or the resorts. We do that by connecting their guests, their visitors, closer to the resorts, but also to help the resorts better understand their guests and visitors, better understand how they convert into paying customers, better understand what their needs are right now and in the future. We also try to simplify the interaction between the guests and the resorts, but also simplify the task of the people working in the resorts and how they can improve the customer experience whilst they're there. Finally, we enhance the full customer experience, not just during the visit, but also before and after. Now, why is this interesting from a commercial perspective? Well, number one, historically, the leisure travel market has had significant growth due to increasing middle classes, more spare time, more spare liquidity. Historically, pre-COVID, there was a roughly 20% annual growth, and the global travel market was about EUR 1 trillion. There's also been a growth in the digitization of this market, and about 50% of the leisure travel market is online. This has been due to changing consumer demands, but also change in mobile app technology enabling this. However, lately, due to COVID, this digitization has been accelerated. Also, for us, the focus is on the ski resorts, and I'll explain why. The ski resort industry in itself is an interesting vertical with about EUR 135 billion annual market, again, pre-COVID. There's about less than 20% digitization, so there's still quite a gap between ski resort industry and the whole leisure travel market as a whole. This is quite interesting from a perspective of the consumers. If you go on holiday at a beach resort, you don't need much or plan much. You have your swimming trunks, you have your clothes. It's quite an easy thing. If you go skiing, you have to consider different clothes, you have to consider equipment, ski school, the various elements. Trying to digitize and trying to make this all into a package is something that consumers are demanding more and more, and we will try to enable. We are building the ultimate skiing ecosystem. Now, in the last year, we've done a merger, we've done a couple of acquisition, and this side of Christmas, we launched Catalate. We buy technology and we buy revenue, but also we attract people, human capital, and that's an important part of our growth strategy. When you buy companies, it can be a bit complicated, I'll try to explain the group in a few couple of sentences. The group is focused on the mountain resorts, the ski resorts. As part of this, you have different components that we are providing our offering services. Catalate, their strength is on pricing and e-commerce, but their services can be utilized in other verticals like parks and attractions, and we see that they are growing number of customers coming in from other verticals. Spotlio is our integrator, our advanced packaging software provider, and they have on the client list the leading American ski resort operators. Skitude is the connection between ski resorts and the skiers, and they do that through the mobile app technology. Finally, Liftopia.com is our B2C marketplace. Liftopia is also a client of Catalate. The fundamental pricing services, the pricing engine, and the e-commerce solution is the underlying technology of Liftopia.com. Before Ivar comes and talks about the financial numbers, I just wanted to provide a quick update on what's happened in Q4. Keep in mind that Q4 for Skitude Group is from the February 1st till the April 30th. In this period, we have launched Catalate in North America and Europe. A new board was elected in February, and both Ivar and myself started in Q4. Ivar, please. Okay. Thank you, Bent. I will start with going through the P&L. As you can see here, we have EUR 21 million in revenues in the quarter and EUR 54 million year to date. EBITDA was EUR -40 million in the quarter and EUR -15 million year to date. Just to touch on the comment on also the depreciations here, which is quite high, and under Norwegian GAAP, we also depreciate goodwill when we have a considerable goodwill on the balance sheet. If you had reported according to IFRS, you would not depreciate goodwill. You can also see that we have quite a big growth from last year here. It's also a comment here about we have changed the revenue recognition for Skitude. I will come back to that. That's recognized net for this year, but last year it was recognized gross. There are also some non-recurring items in the P&L here for quarter with an effect of approximately NOK 2 million on EBITDA. One reason for the big growth, as you saw in the P&L, is the merger and acquisitions we have done throughout the year. I think it's also good to provide a pro forma overview of revenue and EBITDA. As you can see here, the pro forma revenue is about NOK 75 million and a negative EBITDA of approximately NOK 32 million. At Q3 presentation, we guided that we would end up with around NOK 60 million in revenues year- to- date and about NOK 80 million pro forma. The reasons for that change is mostly related to the change of revenue recognition principle in Skitude. Skitude is facilitating resort access to the gates for the resort from the skiers, they collect the payments from the skiers, basically sends 90% of that money to the ski resort and keep 10% themselves in commission. Looking and analyzing that a little bit closer, what we have done, I think it's more prudent to, instead of reporting the gross revenues and then 90% of that as a cost of goods sold, I think it's better representative for the business in Skitude to just recognize the 10% as revenues. If we haven't done that, we would still be at the guided levels of revenue both year-to-date and pro forma. I'm going to the balance sheet, the numbers speaks for himself. We have, as I just commented, quite considerable goodwill related to the acquisitions. What we have done since Q3 is that we have reclassified some of the long-term debt or to short-term. You will see there's less long-term debt, and other current liabilities has increased quite much. That's mostly related to prepaid gift cards in Catalate. I can go further on to the cash flow. This is quite straightforward. In terms of operational cash flow, you can see we have impacted quite much from a negative or an investment in working capital, a negative change, and that's mostly related to us having quite much outstanding accounts payable as of Q1, which we now have paid. We have invested the EUR 2.3 million, that's in capitalized development of software, and we have paid back some debt. Most of that is related to the debt we took over in the acquisition of Spotlio. We have also paid some fees related to the IPO, which was paid early February. It did come in this quarter's cash flow and not in Q3 cash flow. All in all, the cash flow for the quarter was minus NOK 43 million, and our cash balance now is NOK 148 million. Here we have an overview of top 20 shareholders as of April 30th. That was the last financial slide, I hand it over to Bent again. Thank you, Ivar. Thank you very much. Yeah, our long-term revenue target for 2025 is EUR 80 million, and the key drivers to get there are number of resorts, it is number of skiers per resort, it's the number of transactions per skier, and the value per transaction. What we've tried to do is to help more resorts attract more skiers to go skiing more frequently and to spend more of their transactions online. To get to the long-term target, we have to do further M&As, but we do believe that we have a solid foundation for further organic growth. To see this from a perspective of me or you as a skier, it's important that the ski resorts can offer a right price to their customers. They optimize the yields of the capacity they have, and this is where Catalate comes in. Where they try to ensure that your intent to buy a ticket converts into actual sales without reducing the prices too much. Of course, beyond the pricing, it's important to have a full overview of what you're buying, to have a full overview what you need to include in your holiday. This is where Spotlio comes in. That provides that full packaging solution. Finally, if you have a holiday, part of the fun is looking forward to the holiday, not just the actual holiday itself. At the end, if it was a good time, you want to share it with friends, you want to share it with those who you spent the holiday with. This is where Skitude comes in, where they try to engage and connect the skiers and the resorts with the skiers, both before, during, and after the visit. Now, at the heart of Catalate is the pricing engine, the pricing services. This is the base of what they're doing. This is what they've been focusing for since the beginning of Liftopia, which we bought the assets from in November last year. With all those years of transactions, they've become very good at converting intent into sales. This service can be offered on any online store through the APIs they have. Also they have a full-service e-commerce solution, if you need a store, which is called Cloud Store. It was important, it's not just the pricing and actually the shop, you also want to make sure that your products, as a ski resort, or a resort, is presented to as many shoppers as possible, and that's where the distribution services come in. Spotlio, as I said before, is our advanced packaging commerce solution. The skier doesn't care about who owns the ski school or the ski rental place. They don't care who owns the lifts themselves. All you want to know is what you're buying. You want to make sure that you have as good information as possible to compare this holiday with something else. This is how Spotlio is able to convert more intended sales to actual sales. I was going to show you, I don't have my phone on me, but the mobile phone is becoming the ticket, it's becoming the wallet, the photo album, and the communication channel of choice for people in general. This also is for skiers. The resorts are competing for people's attention, for their time, and their holiday money. In order to win this competition, the resorts have to be present in people's pockets, in your pocket. This is what Skitude helps resorts with at the moment. In summary, even though the group is new, its components are known. With acquisitions, we have a much better team. By letting each company in the group focusing on what they're best at, we now have a solid foundation for further organic growth post-COVID. By streamlining and optimizing the organization, we are now ready for bolt-on acquisitions and well-positioned within an industry with accelerated digitization. Thank you. Ivar Blekastad will come here and open up for questions. Yes, the first question there is, what's the outlook for alpine season following lifting of COVID restrictions? You might answer that, Bent Grøver. Yeah, I'll do my best. The COVID situation is still a difficult thing globally, but we do see a difference in certain countries, like the U.S., and certain alpine regions. For most of our markets, we are hopeful that the coming season will be a good season for our resort partners. We don't know what will happen in the winter, but certainly for North America and Europe, and as most of their visitors are from within the regional areas, I think this winter should be a good winter, given good snow conditions. Yeah. Next question is, how is M&A pipeline? Well, it is still incoming companies. As I mentioned before, we've been trying to streamline, optimize the organizations, and we're now ready for bolt-on acquisitions. I think it was also important to understand that as we now have each acquisition is a disruptive event in a company. Having had this acquisition we did in November and December, it's been quite busy. I think we now are ready to absorb more companies into the group. We'll come back to the market on that one. Yeah. Your water park strategy seems emerging. What is the potential, your platform, and growth strategy? This has been a more opportunistic element as part of our business, and we haven't, as a group, focused on it. Through Catalate, we see the growth, and we'll come back to the market with more sort of numbers eventually, hopefully in the next quarter or two. "Have you lost any Liftopia customers with the acquisition? Have these been compensated with new Catalate customers?" We will come back to KPIs in general, including number of resorts and other elements in the Q1 presentation. There has been, of course, some customers of the old Liftopia that was lost through the bankruptcy. We're quite happy with the uptick for Catalate post-acquisition of the assets. "You mentioned there is a pipeline of bolt-on acquisitions. Could you describe the type of business you are trying to acquire?" Only on a generic level. What we're looking for is several things. One is we'd like to increase the wallet in terms of other products, if it's ski school, ski rental. It could be other more technical elements linked to how to drive traffic, like pricing and other elements. Just adding more ski resorts into our portfolio through acquisitions and, of course, revenue. "Could you provide us with some figures on contracted resorts and SaaS, and the number of contracted resorts on revenue fee?" It's a split of what the contracted resorts are on SaaS versus revenue fee. We don't have that number yet for KPIs on all the resorts. For SaaS revenues, that's approximately, for the year, $2 million. Yeah, we'll come back in Q1 with a split by geography and other sort of segmentations. "How is the pipeline related to potential new resorts? When do these usually get signed, and will you press release new signings?" Most of these ski resorts or resorts that we sign up individually will be announced on the various websites of the portfolio companies in our group. We will come with an updated LinkedIn profile eventually, where this will be collated into one stream of information. Whenever there's something of a larger topic, we will provide announcements through the NewsWeb. At the moment, it's a good pipeline, but it changes depending on the season. For instance, if you want to do an e-commerce shop, typically for the ski resorts, they need to make a decision before the campaigns in the spring. For pricing as a service, that's different. For liftopia.com, most of the inventory comes in after the summer for the ski season. It just varies. Yeah. Next question. Do you have a rounded figure on what pro forma revenues would have been this year given a normalized number of skier days?" No, we don't, I'm afraid. We haven't done the full analysis on that. I'm sorry. "Is it correct that last year's pro forma revenue excluding Liftopia and Spotlio was NOK 18.2 million? Is it possible to get a comparable figure for this year, i.e. excluding the contribution from Catalate and Spotlio?" That's possible. You just have to remember that the pro forma figures last year was recognizing the revenues in Skitude gross and not net, as you know, I changed it. That has, of course, some impact on that figure comparable. I think we will provide more segmentation on the companies in Q1 when we also present more KPIs. Given the NOK 148 million cash position and organic cash burning, organic free cash flow of negative NOK 32 million and a low valuation, how do you view potential acquisitions," I believe, "going forward? There are two elements here. Of course, the cash burn has been higher, linked to all the elements of what we've been going through the last year. The cash burn going forward, hopefully, will be different. It's always important for us to ensure that all we do gives enough cash buffer for the company to have as a safety margin. However, we do expect, as we go down further acquisitions and especially the larger ones, to come back to the market for further fundraising. Can you please comment on your outlook for next season, financial figures, contracted new resorts, et cetera? I'm afraid no, we have no guidance on next year. Can you elaborate more on Catalate potential?" Yeah. I don't have the full numbers on the full potential of that, but given the fact that Catalate is now starting to see a bit of a big uptick outside the winter resorts, the ski resorts as well, we do think that Catalate as an e-commerce commission-based business model will constitute a very large percentage of our revenue, and we are investing quite heavily in Catalate at the moment. Yes. There is a last question here. I'm not sure if I understand it. "When are you going to compensate previous company employees and stakeholders who hasn't been paid yet?" I'm not sure what this refers to. Not me either. Okay. That was the last question. Okay. I thank you all, and we'll see each other again at the next quarterly presentation. Thank you very much.