Good morning, ladies and gentlemen, and welcome to the Assemblin Q1 2024 report. At this time, all lines are in a listen-only mode. Following the presentation, we will conduct a question and answer session. If at any time during this call you require immediate assistance, please press star zero for the operator. I would now like to turn the conference over to Mats Johansson, CEO. Please go ahead. Thank you, and good morning, and welcome to our presentation for the first quarter, 2024. I hope you can all see the presentation in front of you. I am Mats Johansson, and I will start to present our Q1 report on an overall level, and then I will let Philip Carlsson, our CFO, go a bit deeper into the figures and numbers. In the end, I will conclude, and then we will have a Q&A. So this is the last quarterly report we will do as only Assemblin, as we from first of April merged with Caverion and became Assemblin Caverion Group. And I'm super excited about this merger and what we already have accomplished together in a short period of time. But let's now focus today on Q1 results for Assemblin. I think you all know Assemblin by now, and therefore I will focus on the LTM headlines on these slides. Net sales of SEK 14.7 billion, and an adjusted EBITDA margin of 7.3%, the LTM numbers here, with a cash conversion of 99%, and also with a strong and solid order backlog of SEK 9.3 billion. I am super proud about these results, and I would like also to take the opportunity here to thank all of our 7,000 colleagues for a great job. We have had 11 consecutive quarters with an LTM EBITDA of 7% or better. Moving over to the key highlights for Q1. I would sum up Q1 with strength and cash flow, high order intake, and continued margin improvement. Compared to Q1 2023, we have a higher Adjusted EBITDA margin, 6.9% in the quarter, and when it comes to higher in the quarter. When it comes to growth, we had a slightly decreased net sales of 2.1%, and our order intake increased, which I am especially satisfied, especially also seeing from the light that it's more or less only consist of small and medium-sized projects. If I should say something about the market situation, despite the economic slowdown, I think the installation market remains strong in the Nordic regions, although there are a little bit of mixed signals. The service business continues to be strong, while privately, new residential construction has more or less stopped. On the other hand, we are experiencing stable demand from public sector and industrial customers, as well as, I would say, increased demand for, for example, security technology and solutions for intelligent buildings. We continue to experience a high interest in green technologies and energy improvements, but I will say in the shorter perspective, we have seen that decisions takes longer time due to the interest rate increases that we have seen and lower energy pricing. But, regarding the market situation, we remain disciplined and selective, as this is really key for us to profitability, but it's even more important than ever to be close to the customers in the local markets and react to offset the market decline in demand, which we have seen in some select local markets. We had a strong cash flow conversion of almost 100%, contributing to continued solid and strong cash position. And we made also 2 acquisitions in the quarter. Let me come back to this. So again, to overall sum up the quarter, slightly decreased net sales, but high order intake, continued improved adjusted EBITDA margin, strengthened cash flow and solid cash position, and 2 acquisitions with annual sales of 45 million SEK. If we take a little bit a deeper look into growth and profitability for Q1, we can really see that the net sales decrease of 2.1%, where 5% was an organic decrease and 3.2% was a positive acquired increase, together with 0.3% currency decrease. So totally net, a decrease of 2.1%. If we continue with profitability, we improve the Adjusted EBITDA margin from 6.6% to 6.9% compared to the same quarter, 2023. Moving over to go a little bit deeper into order intake and order backlog, and as I said here, we continue to have a very solid order intake in the quarter that increased 8.3% compared to Q1 2023, and then only really consisting of small and medium-sized projects, which I am very, very satisfied with. The order backlog increased with 1.9%, totally, compared to the same quarter, 2023. Moving over to acquisitions. During the quarter, we made two acquisitions, one in Sweden and one in Norway. and, these two acquisitions are very much aligned with our strategy and what we would like to do, and I would like to welcome all these two companies and all their staff to Assemblin and Caverion Group. Then, as I mentioned here, on March fifth, it was announced that the operations of Assemblin and Caverion would merge to form a leading Northern European group in technical service and installation, and this transaction was closed April first. And, the merger combines really the strength of two successful companies, producing a wide range of service and sustainable technical solutions for a larger customer base. And, the ambition here long term is to be the market leader, offering the most comprehensive solution throughout the building's life cycle. The combined Assemblin and Caverion group operates in 10 countries, generates annual sales of SEK 43 billion, and employs almost 22,000 people. I'm really super excited about our new combined group. As I said, we have accomplished a lot in a short period of time, becoming one team with one joint mission. I'm super proud of how we have developed Assemblin, and I'm sure we can become best in what we do together with all the great people and capabilities that Caverion also brings here to the table jointly. With that, let's move over to Assemblin again, a little bit more numbers, and take a deeper look in the performance of Assemblin's five business areas here. Over to you, Philip. All right, Mats, thank you very much. Zooming back into the Assemblin business areas here, and starting off, as usual, with the Swedish ones. Compared to Q1 2023, we've seen a normalization of growth as material inflation has slowed. EBITDA increased in Sweden in total, although our smallest BA ventilation had a bit of a weaker quarter. Order intake increased as well, so very satisfying to see, with more mid-sized projects than in Q1 2023. And our order book therefore remains at similar levels compared to the year-end. Moving on then to Norway. Norway showed negative growth in this particular quarter, mainly driven by negative translation effects of FX, but also a more challenging private consumer market that's affected some of our smaller units and resulted in a somewhat weaker EBITDA in this particular quarter. Norway, of course, remains one of our standout star business areas. Finland shows a significant organic decrease, as we've downsized certain operations during 2023, and now that run rate is feeding into 2024. And we've also seen a clear slowdown in demand for heat pumps, especially for residential applications. On the other hand, a stronger BMS business and fewer unprofitable projects as we've downsized those, drives an improving EBITDA margin in Finland. Moving on to the report, the report that's mandated here in our offering memorandum for the bonds issued July 2023. The EBITDA we use to track net leverage contains certain adjustments, and these are summarized in this bridge. The first adjustments are for items affecting comparability. That's a very small net amount in the LTM period and brings us to SEK 1,359 million in adjusted EBITDA, which is what we track in our management accounts. In addition, we have adjusted for the pro forma effects of acquisitions up until the end of the first quarter, 2024, adding an additional SEK 25 million, as if these companies had been part of the Assemblin group from the first of April 2023. And based on these adjustments, we get a pro forma adjusted EBITDA of SEK 1,383 million. Leverage here has decreased from 4.5 in Q4 to 4.3, driven by the improved EBITDA and our strong cash conversion. So moving on to the next slide, and sticking with cash conversion, LTM cash conversion has returned to approximately 100%, in line with where it should be, and we continue our focus here on improving working capital further. So all in all, strength in cash flow, high order intake, and a continued margin improvement. A great quarter. Back to you, Mats. Thank you, Philip. So, kind of wrapping up here and conclude the quarters with the highlights again. A slight decrease in net sales. We continued and improved our margins from 6.9 to 6.6, the same quarter, 2023, and are also on an LTM number of 7.3%. Strong order intake and solid order backlog, and then we did two complementary acquisitions. It was 21 employees and annual sales of SEK 45 million. As I said, with the market, it's mixed market signals, but high demand for industrial infrastructure product as well as public buildings. And we also see a continued strong service market. Stay close to our local markets, that's what we always do, and its clients too. If we see changing in demand and all the conditions in demand, then we can adapt our business operations accordingly. So, with that, let's open up for questions. Thank you. Ladies and gentlemen, we will now begin the question and answer session. If you would like to ask a question at this time, simply press star, followed by the number one on your telephone keypad. If you would like to withdraw your question, please press star two. One moment, please, for your first question. ...Once again, please press star one to ask a question. We currently have no questions at this time. I'd like to turn it back to Mats and Philip for online questions. Right. We're not seeing any questions on the written side here, but let's just give it a moment. Oh, excuse me, Matt. Sorry? Hi. We actually have one audio question from- Great. Saul Casadio with M&G plc. Please go ahead. Yes. Hi, thank you for taking my question, since no one is asking. Sorry, I haven't followed all the recent developments, but just on the bond side, but wondering if you can provide an update on the capital structure pro forma for the merger with Caverion. If you... You know, there's anything that needs to be funded in the bond market, is already funded in the loan market, and what is the pro forma net leverage, if you can provide more details on that? Thank you. Right. So compared to what we presented previously there in terms of pro forma leverage, at the time of the announcement, there hasn't been any significant movements. I mean, arguably, slightly better leverage. We are also today presenting pro forma figures as well, as part of our disclosures. So in addition to the normal Q1 report, on our webpage, there is also a pro forma between Assemblin and Caverion presented, in addition to our normal disclosures. And then in terms of... As we've indicated previously, we have outstanding bank debt in the Caverion Group, which has a three-year tenor. So we're not necessarily in a hurry, but we are definitely looking at options to refinance that debt and put our long-term capital structure in place. So really, at this time, we can't really add that much more compared to our previous, update, and- Okay. So if I understand, it's still TBD in terms of potential refinancing of the combined capital structure? Exactly. So it's still TBD, still something we're looking at, and obviously, as soon as that changes, we will make sure to make everyone aware of that. Great. Thank you. Thank you for the update. And now I've-- I'm seeing here we have some written questions as well on the same theme. When do we plan to come to market to refinancing the Caverion debt? And I guess it's the same answer that we... As, as we said, we, we will be returning as, as soon as we have anything more to say there. Hello, thanks for the presentation. You're considering to refinance the debt in the Assemblin, at Assemblin level? Yes. I mean, when we refinance the debt, we will be raising debt on the top level, the, the way we have it at Assemblin today. So it's the, the current bridge loan we have within the Caverion would be that, that's refinance. But then again, we have, we have ample time to play around here, so we'll see when that happens. And how should we think of the pro forma leverage of the business? Well, and I guess currently, it's lower than it would normally be, since we have only the bank debt within Caverion, but we would be looking to refinance to levels that have been the historical levels we've had in Assemblin previously, but not higher than that. And then we have an additional question here: Please elaborate on the drivers behind the 5% organic sales decline and how this compares to your opening comments that the installation market remains strong. Happy to do that. I mean, that's looking at that, and kind of isolating where that's happening, and we can say, well, it's mainly within Finland. And in Finland, it's then the fact that we've restructured our projects business in Finland, and therefore, we're phasing out the unprofitable projects business there, which it drives an organic sales decline, but that's obviously positive for us. And then there are some other pockets, especially in parts of the business exposed to residential. So as Max was saying, mixed market signals, residential, geothermal in Finland, taking a bit of a hit and some of the private-driven areas in Norway. But again, we're focusing on margins, always margins over growth. Which is kind of a testament to the fact that we're then seeing, despite this decline, and actually, you could arguably because of it, improved margins in the quarter. And I'm not seeing any more written questions here. So unless we have any more audios- Nope. Would you like to wrap up, Mats? Yep. Yeah, thanks for listening in, and it's a little bit... It feels great now that next time, Q2, it will be more of a unified Assemblin Caverion reporting setup, right? So, thanks a lot, and looking forward to talk to you again when we have Q2 results. Wonderful. Thank you very much. Thank you. Thank you, presenters. Ladies and gentlemen, this concludes today's conference call. Thank you all for