Good morning, ladies and gentlemen, and welcome to the fourth quarter results presentation. My name is Tolle Grøterud, and I have the pleasure of guiding you through today's presentation. Our CEO, Freddy Sobin, and our CFO, Lars Christiansen, will take you through the presentation, followed by a Q&A session. For media, there will be an opportunity to perform separate interviews after the presentation. Please direct your request to our press contacts. Without further introductions, I turn the floor over to you, Freddy. Thank you, Tolle. Good morning, everyone in the room and everyone joining us online. Welcome to the Q4 presentations. Yes, as you see in front of you, we're very happy to report that Q4 for XXL was yet another quarter of positive sales development, actually sales turnaround materializing further, despite a quite challenging market still. Now, jumping through the disclaimer onto the agenda, I'll start today as per usual with the CEO update, then leave over to my esteemed colleague, Lars, our CFO, to guide you through our financial results, and then end with some final remarks. Let us get going. Let's start with sales. In retail, everything's about sales, everything's about top line. I'm very happy to report that Q4 was yet another quarter of positive sales development, of sales recovery. All through 2024, we have delivered quarter by quarter actual recovery in our sales. Q4 ending at index 98, which I believe is a strong signal from us, actually breaking Q4 down, and that is despite quite challenging market conditions. Breaking it down month by month, we see that October was a bit of a, let's call it a challenging start with a late winter. Coming into November, we had a strong Black Week period. Going into December, we actually had a month of growth, even though only by 1%. It's the first time in a long time that we are delivering growth, which we're very pleased with, which is a very motivating proof point for the entire organization. We are now increasingly back on track. Digging a bit deeper, what is actually driving that growth? We see five main pockets of growth. The first one being Black Week and Christmas, a strong and important period for the company. With strong execution both in stores and online, we succeeded to grow during both commercial periods. Furthermore, e-commerce is back to growth, something we're also very proud of. Sweden, while the market was down by 2.9% in Q4, according to Sport Index, we were up by more than 3%, meaning that Sweden is not only driving the growth for the group in Q4, we're actually also taking back important market shares in the market. Very happy to see that as well. Furthermore, private label, we did a considerable step change in the quarter, accelerating private label growth, and that was also one of our growth drivers. Lastly, XXL Rewards, our loyalty program. Since launching the new program with points and bonuses in October of 2023, back then we had 3.4 million members. Now we are over 4.3 million members. I think that is also a strong signal that customers are increasingly joining our club, increasingly loyal to the XXL concept, and increasingly coming back to shop with us. So many good signals with underlying growth pockets that we will continue to definitely capitalize on for the year ahead. Now, going one level deeper, what's actually driving this, I would say, is strong collaborations with many of our key brands. We have strengthened many of our partnerships and collaborations and are really achieving win-win with many key brands. As you know, XXL is all about great brands and great prices. Furthermore, I really want to take the time and say a big, big thank you to the entire XXL organization. In Q4, we really showed what we can do when we are one XXL working together towards one goal. We are back on track. We are delivering growth once again. As we now have January behind us, we want to give you a trading update. Also here, we continue on the growth trajectory starting in December. In January, we actually deliver almost 4.5% growth. Once again, the first month in quite a long- time with even more material growth for the company, something we're very happy to see because the market is quite challenging still. The growth drivers for this month are a stronger commercial plan where we are better at leveraging the full width of our assortment, growing in many non-seasonal product categories as well. Also happy to see that actually all markets, Norway, Sweden, and Finland, are driving the growth. We are seeing growth across the line, across geographies. We see very strong retail performance in January with both footfall increasing, conversion rates increasing, as well as items per basket. All of this with stable gross margins. I really think that sales turnaround is materializing. That, of course, is coming from our strategy, our turnaround plan called Reset & Rethink. We've talked about it many times in many forums, believe me, not the least internally in the organization. Let's focus a bit on the reset part, our must-win battles, which is all about really getting the retail basics back in place in the company. Also here, all must-win battles are showing positive indicators that we are moving in the right direction, starting with category reset, meaning our assortment, meaning our product offering, maybe the most important thing for us. We have since long been saying that we will retake our low-price position in the market. We will increase our mass market appeal, and we are delivering on that. As we now see that low, meaning our good, better, and best pricing levels, low is increasing. Now about 40% is back where it should be. That in itself is a lot driven by private label, which during the quarter took a big step up with more than 6% points increase in sales share. Category reset, definitely XXL is back with a very good, strong assortment delivering. Availability, however, is still a challenge for us. Inventory remains at record low levels at NOK 1.8 billion. It's slightly up year- over- year with 2%, but in volume, thanks to our new strategy, we actually have 14% more volume within the same inventory value, meaning we have more pieces, we have more product to fill our stores with. Of course, that is also driving our conversion rate because below you see store operations and both better availability, more products in stores together with strong sales tactics from our staff means that conversion rate is up with 1.5% points in the quarter, or sorry, percentage points even. A strong, strong and good number, and that is again driven by all three markets. Conversion rates are increasing across the line. Once again, the strategy is really proving itself in all markets. Pricing, we continue with our new pricing strategy, which is data-driven and very disciplined. We see that that delivers more than 2% points in growth and gross margin. Also, we're not just giving away margin, we're actually increasing it year- over- year. The same goes with e-commerce where we're increasing the margin with more than 3% year- over- year. All must-win battles actually delivering with positive indicators, but ultimately, as you saw, December growing, January growing. We are definitely moving in the right direction. The plan is materializing as we speak. To refuel the plan, to refuel Reset & Rethink, we have launched a consensus equity solution, which we believe is in the best interest of all shareholders. The rights issue that we are now in the process of completing is in the amount of NOK 600 million. I think what's important to say is this is the first time in a long- time where the full amount, all capital raised, will be used towards operations. We will not use it to pay down long-term debt. We are really refueling our strategy. We are refueling XXL. This is a consensus solution among all our main shareholders, and it was approved in our extra General Meeting on the 29th of January. Now it is mostly formalities remaining. With that, ladies and gentlemen, I leave over to our CFO, Lars Christiansen. Thank you, Freddy. With that, let's take a closer look at the Q4 financials. We'll start at the top line with the operating revenue coming in just north of NOK 2 billion in the quarter. That is a slight decrease versus the same quarter last year, 1.8%. If you look at the total year where the top line revenue comes in at NOK 7.2 billion, a 10% decrease versus 2023, that means that we have seen an improvement in top line performance throughout the year. That is the same as well. If you double-click on quarter four, as Freddy mentioned, a challenging start with availability challenges, followed then by strong performance in November and December, returning to growth with a strong execution of the Black and Christmas period, driving top line sales across the XXL markets. Looking at the countries, we see that Sweden is driving growth in the quarter, growing on the full quarter level. Norway sales is rebounding, following maybe one or two quarters behind the development that we see in Sweden, whereas Finland remains a challenging market for XXL, as well as the sporting goods industry in general. Looking at the category levels, we saw muted winter conditions in Q4 compared to the same quarter last year. That means lower sales in alpine skis, cross-country skis, but we were able to partially offset that by increases in categories such as apparel, running, and bikes. On the gross profit level, coming in at NOK 719 million in the quarter, a 2.2% points increase versus the same period last year. That increase driven by a negative reward provision last year that we do not have in this quarter, but also the significantly improving private label share that Freddy also commented on earlier in the presentation. Switching to OpEx, we see a relatively flat OpEx in the quarter, coming in at NOK 701 million. However, it's important to note that we have significant non-recurring costs booked in this quarter relating to the ongoing equity financing process, as well as a VAT dispute in Norway that we are making a provision for in this quarter. I'll come back to that in a little bit with more detail in a little bit. That leaves us with an EBITDA improvement of NOK 31 million. Looking at the markets again, we see a significant EBITDA improvement in Sweden. Norway also improving EBITDA, offsetting a reduced top line with cost reductions, whereas with that improvement in Norway and Sweden is partially offset by a reduced EBITDA in Finland, as well as for the logistics and HQ segment where we are booking those non-recurring costs this quarter. Switching to inventory, we continued to execute a strong discipline in terms of managing our inventory, and it is relatively flat year- over- year. As Freddy mentioned, though, it is important to note that throughout the year, the average inventory has been approximately 10% lower than what we had in 2023. Liquidity, NOK 341 million coming out of this year, and I will comment a bit more on the changes in the liquidity position later on in the presentation. Switching to EBITDA, we see this NOK 31 million improvement in the quarter where we see that we are able to more than offset the reduction on the top line with margin improvements as well as cost reductions throughout the XXL value chain. That picture is the same if you look at 2024 full- year where we have been able to improve EBITDA with NOK 153 million and actually almost above NOK 190 million if you look at the non-recurring costs we have posted, managing to offset the revenue decline with significant improvements in margin and cost. Obviously, not a satisfactory EBITDA level, but a good performance in terms of being able to improve the margin and taking out costs in the XXL value chain throughout the year that we are happy to see and that we will continue to work on also in 2025. Looking at costs, we are happy to report a gross cost saving of approximately NOK 300 million on the target for the cost program launched in Q2 2023. When looking at the development in cost, we have to make a couple of adjustments in the baseline. We have to adjust for the weakening of the Norwegian currency as well as the direct inflationary effects we have on the real estate rental contracts for our stores as well as our personnel. That brings the comparable baseline to NOK 3.5 billion, and we are reporting now a cost reduction of NOK 300 million from that down to NOK 3.2 billion, reporting a majority of those cost savings on the personnel cost side, but also seeing operational improvements and cost reductions within logistics and other operational costs. It's important for us to say that we are not done with taking out costs from the XXL value chain. We will continue to make improvements on the logistics and freight side. We'll continue to work on taking out scale effects through improved procurement efforts, as well as reducing personnel costs and improving our marketing practices. Looking at the balance sheet in Q4 and for the full- year, our net debt comes out at approximately NOK 1.2 billion, the increase in net debt predominantly driven by the bridge loan that we took out in Q4. The liquidity reserves, NOK 341 million, being reduced with more than NOK 400 million compared to the same period last year. That reduction is driven by a reduction in the revolving credit facilities of approximately NOK 300 million. The operating cash flow, -NOK 34 million, where we have negative changes in working capital offsetting the positive EBITDA development. In 2023 last year, we saw the opposite direction, negative EBITDA being offset by positive working capital as we saw significant build-ups of the inventory in the company throughout 2023. We do have some severe adverse P&L effects in the quarter amounting to approximately NOK 800 million. It's important to underline that a majority of that has no cash effect for the company. First of all, we are posting non-recurring effects connecting to the ongoing equity issue of approximately NOK 15 million in the UPEX Line this quarter, and we see a write-down of goodwill and the deferred tax asset of approximately NOK 740 million, of which NOK 670 million of that is goodwill and NOK 70 million can be found in the tax cost line in the P&L. Again, stressing none of those with cash effects. We're also making a NOK 44 million provision relating to an ongoing VAT dispute in Norway connecting to campaigns executed by XXL in the period 2015- 2020. This case has been idle for a long time since 2021, but now we are expecting a conclusion in Q2 this year, and we're therefore making a precautionary provision this year, NOK 38 million of which can be found on the UPEX Line. As Freddy said, we're pleased to be in the completing stages of our equity issue, raising NOK 600 million from a fully guaranteed rights issue and also prolonging the company's existing loan facilities. The AGM has already approved this transaction, and the timeline going forward is that we expect the subscription period to start in the end of February following an approval of our prospectus, with an end to that subscription period mid-March and the closing of the transaction on or about March 20th. That That concludes the review of the financials, Freddy. Thank you very much, Lars. Commercially a strong quarter, I would say, but financially maybe a bit challenging with non-recurring and let's call it technical P&L effects. Looking more again, high level, 2024, summarizing the year, sales and gross margin is recovering. We are seeing a very positive trend quarter by quarter, and you see the gross margin being strengthened for the full- year with almost 4.5%. We have been able to reduce cost, as Lars also was quite detailed about, and gross OpEx for the year is down by NOK 235 million. We are not done yet. We are satisfied but not happy with the number. We can do more. All in all, EBITDA for the full year is improved by NOK 154 million, so it is up to NOK 74 million. Once again, one step forward, but we have many more to go. I would say the full EBITDA effect is hampered by lower sales volumes, and the lower sales and sales is down by almost 10% for the full- year is in itself hampered by the record low inventory because the inventory level in average for the year was down by 10% from NOK 2 billion to NOK 1.8 billion in average. Also, number of pieces, meaning volume in average for the year was down by 8%. Inventory has definitely hampered sales, but if we would have been able to defend sales levels from 2023 with the same gross margin and cost base as we have been able to now deliver in 2024, we would actually, in a simulation, have a NOK 400 million roughly EBITDA instead of the NOK 74 million. This just shows how top line sensitive we and of course everyone in retail are, and this is something we're now really looking forward to turning around in 2025 because 2025, when we really look into what we're heading into, will be all about growth. We hope to be able to continue on our positive sales and gross margin trend. We see that our current inventory going into 2025 is both commercially stronger and also with a healthier composition. It can still be even stronger and healthier, but we have done a lot during the past two years and are in a much better place now from an inventory perspective. Also, as Lars mentioned, we will be continuing to take out cost to find further networking capital efficiencies to be able to operate an even leaner XXL. We want to run fast. We want to be able to achieve growth. We need to shake off some of that extra weight that we might have currently. Looking at what we think will drive the growth for 2025, we are focusing more on our rethink initiatives. We will be focusing a lot on our stores, restructuring and elevating our store portfolio. We are very happy to open our first new store in quite a long time. It will be in Trollhättan in Sweden in April. We will also be refitting 10-15 stores throughout the year, as well as reconcepting 17-19 stores. We will be touching a large part of our entire store portfolio, modernizing it, optimizing it. Yes, also to some degree taking out commercial square feet to be able to deliver an even stronger and more modern store experience for all of our customers. Many projects will and focus and attention will be going into our stores. Throughout 2024, we have been also testing a new media mix to a large extent. We will now be rolling that out to all markets and to the full extent this year. By that, we hope to be seeing increased footfall to stores and increased visitors online. A new and more modern media mix definitely should also be helping us to drive growth in the market. Furthermore, we are on a journey to strengthen our value for money proposition. We've seen great improvements during the fourth quarter with that. That in itself will be driven by our private labels and in-house brands. It will also be driven by many of our fantastically strong relationships with key brands because XXL is about great brands and great prices still. Value for money will be strengthened throughout the year. XXL Reward, while surpassing 4.3 million is a milestone, and we are now aiming for the next one. XXL Reward, our loyalty program, which has proven itself to be very successful, we will further strengthen, develop, and grow it throughout the year. Four initiatives that we will be driving through 2025 in order to rethink XXL, to strengthen it, and to take it back to growth. Back to growth is what we will be focusing on. 2025 is the marathon continuing with regards to reset and rethink. Bouncing back to growth, securing that we are modernly in operations and still being very disciplined when it comes to capital and inventory steering. All in all, we are optimistic. We are now increasingly certain that we are on the right way. Commercially, we are definitely proving it, and that is something we are looking forward to do all through 2025. With that, ladies and gentlemen, I thank you very much for your time.