With these words, over to you, Hans. Thank you, Johan. Good morning, ladies and gentlemen. We had a record high net sales and comparable EBITDA from continuing operations supported by strong top-line growth, margin expansion, and progress in transformation-related initiatives. As you can see in the graph here on the right-hand side, our comparable EBITDA in Q2 was up 56% from last year Q2, and 23% up from the first quarter, which was the previous all-time high comparable EBITDA quarter. If we look at the first quarter of this year, our comparable EBITDA is up 33% compared to the first half in last year. We also reached an agreement to divest the majority, 75% of the Decor business, and it is classified to assets held for sale and discontinued operation in this report. We expect the deal to be closed during the second half of this year and to generate cash in excess of EUR 200 million, supporting liquidity and strategy execution in our company. Demand remained on a high level, and cost inflation was successfully managed with commercial and operational excellence initiatives. Contingency plans are in place, and capital investments initiated to reduce exposure to curtailments of Russian gas supply to Europe. Ahlstrom-Munksjö also takes the next steps in its strategy execution through a clearly defined purpose, sharper strategic focus, and ambitious sustainability targets. We are accelerating our pace of execution with the vision to become the preferred sustainable specialty materials company. More about that later on in this presentation. Our net sales increased to all-time high levels. Net sales EUR 866 million in the quarter was up 33% from the second quarter of last year. Looking into the first half of the year, our net sales top-line growth is 29% year-on-year. If you look into the various end-use areas and businesses which we are serving, this split here in the pie chart on the right-hand side is corresponding with our new divisional reporting structure as from next quarter. You can see that Food and Consumer Packaging we saw a top-line growth of 35%, followed by Technical Materials growth of 29%, Filtration 26%, Building Materials 18%, and Healthcare 14% during the first half of this year compared to last year first half. Strong net sales growth and, as well, all-time high comparable EBITDA generation. Now I hand over to you, Sakari. Thank you, Hans. Just as a reminder for everyone, those of you who have been following our figures might look a little bit different than before, and that's due to the treatment of the Decor business as a discontinued operation. All of the numbers we are presenting here now is for the continuing operations. In the report itself, you will find the figures based on both, in more detail. Having said that, Hans already covered the growth. Net sales increased by 33%. At constant currency rates, the increase was 25%, and this was largely driven by higher selling prices as we continued to pass through the high inflation of our input costs. The FX impact was 7%, which was also quite considerable. Delivery volumes were roughly flat compared to a very strong second quarter in 2021. Demand, in other words, continued on a good high level. If we continue to look more in detail on the EBITDA development, as Hans said, record level EBITDA, EUR 131 million compared to EUR 84 million in the corresponding quarter for the continuing business. That represents 15.1% of net sales, which is also a record high EBITDA margin compared to 12.9% for the same business constellation in the previous year. Margin of variable cost improved as higher selling prices and measures that have improved our variable cost efficiency more than offset the inflation pressures coming from higher input costs. We also had a fixed cost increase, mainly due to higher personnel costs, which is also inflationary to quite some extent. Again, on the EBITDA, of course, is volume impact minimal and really the driver is the higher margin. Then maybe to continue on that story on the margin of variable cost on the next slide, you will see that also if we take a little bit historical perspective, we have now consistently been improving our margin and variable costs for several quarters in a row, starting from the second quarter of last year onwards, each quarter. What this slide also shows is the margin and variable costs, both including the discontinued operation and excluding. What you'll see there is that as this will indicate that the Decor business is roughly on par with the average level of margin and variable costs across our businesses. If we then briefly touch upon the input costs. We've shown this pie chart before, and this is now updated for the situation in the first half, so not only the second quarter, but the first half of 2022. Not dramatic changes as such in the split, although of course we've seen a high continued inflation in fibers and pulp, also in chemicals, but especially then in energy, where the portion of that in the overall cost base has increased now to 11%. As said, with the successful pass-through, we have been able to handle the situation. Also important to note is that we have had very limited, if any, operational disruption from supplies, and I would say that also that the situation is slightly easing from an availability point of view. However, the latest thing is, of course, the high increases in energy costs. If we then move on to the reconciliation of comparable and adjusted EBITDA. Here it's important to note that these figures represent the continuing and discontinued operations together. The adjusted EBITDA amounted to EUR 575 million for the last 12 months, which is the basis that we calculate this on. This is a clear increase from the previous quarter where it was EUR 518 million. This is largely driven by the increase in comparable EBITDA almost completely. EUR 50 million of the increase comes from there. Then there are some slight movements from the expected impact from the initiatives in our transformation, feeding into the figures from the initiatives started in the various years, 2021, 2022, and then expected in 2023. We then move on to the cash flow on the next slide. Net cash flow from operating activities was EUR 48.7 million, which is an increase compared to the comparison period. Of course, the strong EBITDA development supported that. However, the cash flow was negatively impacted by an increase in working capital, which is kind of natural with the high inflationary environment. Also somewhat impacted by longer lead times, as well as certain timing issues at the quarter end relating to timing of payments. Our still continuing quite high items affecting comparability of cash, in fact, play into this as well. At the end of the reporting period, Ahlstrom-Munksjö's adjusted net indebtedness was EUR 1.9 billion, and that translates into a net indebtedness to adjusted EBITDA ratio of 3.3, whereas one year ago, this was 3.8, and at the end of Q1 in 2022, it was 3.6. This is an improvement of 0.3 compared to the previous quarter. More as a housekeeping item, the debt structure, there are no dramatic changes here in the debt structure compared to the previous report. We continue to have no major refinancing needs until 2027 and 2028. With that, I'll hand over back to Hans. Thank you, Sakari. Following the ownership reorganization of our Decor business, which is estimated to be completed during the second half, this is how the company is looking like. We Ahlstrom-Munksjö also, we are planning to change our business name to Ahlstrom in connection with the closing of the reorganization of ownership in Decor. We are a global leader in sustainable and innovative fiber-based specialty materials. In the two pie charts, you can see our sales split into the business divisions as well as also our like comparable EBITDA from last year split into the five new reporting divisions. We are having 39 plants and converting sites in 13 countries, 6,800 employees with over 55 nationalities and almost 6,000 customers in over 100 countries. You can see the split of our sales geographically in the pie chart on the bottom. Europe representing 40% of sales, North America 39%, South America 6%, so Americas in total 45%, and Asia 16%. We are now taking our next step in strategy execution through our clearly defined purpose, sharper strategic focus, vision, corporate values, and ambitious sustainability targets. Also, Munksjö is uniquely positioned to capture additional value from the growing markets for fiber-based specialty materials and make a large contribution to society through our strong market position. Megatrends such as higher air, water quality requirements, restrictions on use of harmful chemicals, increasing health awareness, as well as plastic to paper substitution and e-commerce in packaging create growth opportunities for us. Furthermore, the pandemic has demonstrated the contribution of our medical products to people's well-being and underlines the importance of healthcare as a market for the company. Our strategic ambition for 2025 is to become the leader in combining fibers into performance materials that serves our newly defined purpose. We purify and protect with every fiber for a sustainable world. In fact, all our products have the functionality of purifying liquids, air, water, emissions, and protecting people, products and the planet. With every fiber is referring to our in-depth knowledge of various fibers. I would claim that we have the best knowledge globally when it comes to various fibers. In our research center in France, we have in-depth knowledge of about 1,000 different fibers and how to combine those fibers into high added value materials with quite advanced functionalities to meet the requirements for various end users. All of our products are serving the purpose of a more sustainable everyday life and a more sustainable world. Our vision is to be the preferred sustainable specialty materials company. Preferred among our customers, among employees, as well as investors and other key stakeholders. Our corporate values are accountability, growth mindset, one team and care. The ambitious strategy includes also sustainability targets and strategies defined. We aim for all our new product introductions to serve the purpose to purify and protect and to be sustainable by design. While the sustainability strategy spans across environmental, social and governance factors, special focus is on immediate improvements in climate performance, and we commit to the 1.5-degree Celsius Science Based Targets initiative toward 2030 and to net zero emissions by 2050 the latest. The company will continue to successfully manage a broad portfolio of attractive niche businesses supported by a tailored operating model. Effective as of July 1 of this year, our group served five growing and distinctive end markets, which also form the base for five divisions, allowing for significant organic and inorganic growth. Filtration, mission-critical air and liquid filtration applications. Market growth here is driven by higher purity and emission standards in automotive and industrial processes. Food and Consumer Packaging, solutions for improved food safety, product preservation and bacteria prevention, helping to extend product life and protect human health. Market growth is driven by a shift towards home delivery and e-commerce and sustainable substitution of plastic with paper. Healthcare, technical materials serving essential societal uses in medical, laboratory and life science settings, including diagnostics, bioprocessing and medical performance barriers. Market growth is supported by increasing health consciousness, at home testing with rapid test kits and the development and use of advanced bioprocessing. Building Materials, highly engineered building materials, applications for every phase of the building. Market growth is driven by urbanization and increasing demand for sustainable building materials. Technical Materials, highly technical applications including protective materials such as insulation, precision coating tape and others. Market growth here is driven by increasing performance characteristics in demanding technical applications, emission reductions and substitutions of plastics to paper. This describes our operating model, which we have implemented in order to empower our strategy execution. The core building block in our organization are 13 P&L responsible business units with the responsibility for customer and sales, operations and supply chain, as well as business development and innovation. This is really forming the core building block with end-to-end responsibility and P&L responsibility. These 13 business units are organized into end-market and end-use-based divisions, also P&L responsible, driving end-market insight and strategic business development. Our P&L organization is then supported by global group functions, which are global centers of functional excellence, supporting the business and creating the preconditions for success. All in all, ladies and gentlemen, the purpose of our company is we purify and protect with every fiber for a sustainable world. Our vision is to be the preferred sustainable specialty materials company, and we build our leadership of business organizations and ourselves on accountability, growth mindset, teamwork, and care. Now over to you, Johan. Thank you, Hans. Thank you, Sakari. Now it's time for the Q&A session, and let me remind you all that you have the opportunity to ask questions over the phone lines or using the chat box on the website. Let's start with the questions over the lines. Over to you, operator. Do we have any questions? Thank you. Just to ask a question at this time, please press star one on your telephone keypad. We do have a question. Caller, your line is open. Please go ahead. Good morning. Thank you for taking the call, taking my question. First of all, will the EUR 2 million proceeds from the Decor business be used to pay down the SFA debt, your term loan debt? Sorry, can you repeat that question? You were breaking up a little bit. Of course. You're receiving EUR 2 million proceeds from the disposal of the Decor business. Will you use the EUR 20 million or part of that to pay down SFA debt, i.e., the term loan debt? Or what do you plan to use with the funds? I think as we've said in the report, it will improve our liquidity situation and be an enabler for our strategy execution, rather than for the paying down of debt. That's the intention. Okay, thank you. Can you talk about your exposure to natural gas, i.e., how dependent are you on gas? Can you use alternatives like oil or other fuel sources? Yes. We are using natural gas in some of our European plants. As we said here, we have the ability on many of our European plants to use other fuels, and we have started and initiated already in the month of March various capital investment projects in order to build up that backup alternative and opportunities also in the other plants we have in Europe. We are taking actions in order to have flexibility in the use of various fuels as a backup for natural gas. In other words, if natural gas were to become unavailable to your company, that wouldn't be catastrophic. You would still be able to operate and use other fuels. That seems like, what I'm hearing. Is that correct? Is that interpretation correct? Yes, in broad terms. I mean, it's a question of some of the projects. It depends on, you know, when gas would become unavailable, and secondly, also it depends on, you know, we are aiming to have these investments all concluded for next winter, which is forecasted to be the critical period. Okay, that's great news. Thank you. Have you hedged any of your gas needs and, or gas requirements for this year or next year? Yes, we have a policy to continuously on a rolling basis hedge a major portion of our energy purchases. We continue to roll those hedges forward as we move from quarter- to- quarter. Okay. Understood. Thank you. Would you be able to give us any guidance or any outlook comments for sales in EBITDA for third quarter 2022 and for the rest of the year? Like, what are you seeing in terms of customer behavior? What are you seeing in terms of demand and things like that? Just to give us an idea of where your markets are. We are not providing any outlook statements or guidance for, let's say, the remainder of this year. What we can say is that of course demand in most of our businesses is continuing on a stable, good level. That's what we are seeing currently. Okay. That's helpful as well. So you don't see any slowdown in any of your business segments because in one of the companies that I look at, they are guiding a slowdown in the construction or Building Materials segment. I know that you also have Building Materials exposure. Do you see any slowdown in that segment? In some niche markets, we can see some early signs of some slowdown. I would say that it's small, looking into the total Ahlstrom-Munksjö business portfolio. In clear majority, most of our businesses, we are experiencing continuous strong, solid demand on very good levels. Great. Thanks. Thank you for that. My last question, you've been able to pass through higher input costs. Are you seeing any signs that customers are less willing to accept higher prices, i.e., you know, higher costs that you're passing through, thus leading to a potential economic downturn? We have been executing our commercial strategy with great success, and we are continuing to do so. I think everybody are aware of the inflationary environment. On the back of continuous strong demand, we see that we will continue to be successful in the execution of our commercial strategy. All right. Thank you very much for that, and good luck with the rest of the year. Thank you very much. As a reminder, just a second over the phone. I will take our next question. Caller, your line is open. Please go ahead. Oh, hello. Good morning. Can you hear me? Yes. Yes. It's Simon from Carlyle. First of all, congratulations on the very strong quarter. A couple of follow-ups for me. First of all, talking about the use of proceeds from the Decor spin-off, would a dividend be also considered as part of the uses of this cash? Well, to the extent that it has been declared, yes, but no other plans. As to the use of cash, I mean, we have the ambition to grow this company and strategically develop the company. I would say that the primary intended use of this cash is to execute that growth strategy. Okay, cool. Thanks. What kind of enterprise value do you or will you or are you assigning to the Decor business? You said EUR 200 million of net proceeds, but obviously you'll retain a stake in the business and maybe there's some debts traveling to the buyers. Is there any kind of guidance or indication of what the EV as a number or multiple is for the business, please? We have not disclosed the enterprise value, and we are going to provide further details after the closure of the deal, and in connection to that. Okay. Thank you. The next one, are you seeing any declines in your raw material prices at all? I believe that wood, the prices of wood may have fallen somewhat more recently. I wonder if the cost of fiber or pulp or whatever is likely to follow suit as well or not necessarily. Well, we have seen some. In some pigments, chemicals, we have seen some decline, but generally speaking, not in other areas so far. It remains to be seen. We as a company don't actually provide forward-looking statements about what we expect on pulp prices. I mean, there are market analysts who do that, but that's not our job. Mm-hmm. You know, looking at what's happening in Q3, you are saying the prices are not really falling yet for your raw materials, sorry. No, you are correct. In Q2, we didn't see that decline. No, that's true. Okay, cool. The last question regarding the squeeze-out process, is it correct to assume that the very strong trading you're reporting makes this process a bit more difficult for you, given that maybe that justifies price expectations of the minorities? Is that kind of maybe paradoxical, but is that how we should think about it? I wouldn't draw any connection between our company's operational and financial performance and the process itself, no. No. Two different things. Okay, cool. Thanks a lot. Thank you. We have no further questions on the phone line. Very good. Thank you. Let's move over to the questions in the chat box. Starting from the first one then, there's a question concerning our footprint in Germany, which is actually changing quite a bit. Yes. After the divestment of our Decor business, we have only one small plant left in Germany. It's actually one of our smallest plant in operation. In percentage, it's a very small percentage. Could be a fraction of a percentage even, depending on how you calculate. At least if we are calculating in volume, it's a fraction of a percent. Moving on to the second question, which concerns the divisional margins, and would we like to comment on a normalized level for these, given the current market environment? Yeah. We are not giving any guidance or we are not disclosing any division-specific targets at this stage at least. Yeah. I would add that I think that, you know, we have been going through and are going through a major transformation and improving the operational efficiency and the commercial performance of all of our businesses. I don't think there's really a normalized margin as such. Our ambition is to improve, continue to improve our margins over the cycle. There is quite a few questions concerning the proceeds from the planned divestment and also concerning the gas and energy. I think we have covered those quite well already during the presentation today. There is a question about the factoring and the status of our factoring levels right now. Of course, in the annual report, there's more detail on the factoring levels and I would say that compared to that, of course, the factoring levels are largely running in line with our top line growth. But other than that, there are no large changes in the way we have set that up. There's a specific question about the planned reorganization and whether the acquirer has the option to buy the remaining stake. Yeah, we are not disclosing the details of the SPA, the agreement. Concerning our volume development in the second quarter, which were slightly down, was that a reason because of a softer end market or because of us increasing prices? Well, first of all, the comparison quarter Q2 in 2021 was a very strong comparison quarter and we're speaking about a 2% difference. This was partly due to product mix, inventory changes. So I still underline that our demand continued stable and good on a good level. That's the overarching conclusion on the demand side. There's further question concerning the our ability to raise prices further in the third quarter and also about the development in the third quarter about energy, fiber, and chemicals. These we are not providing forecast for the third quarter concerning this. Moving on to the next question, do we expect any production interruptions because of cuts in gas supply? Well, first of all, we don't know if there will be mandated curtailments in the industry and whether there will be where there would be. I want to underline that after the divestment of our Decor business, our manufacturing footprint in Germany is significantly smaller than before. It's only a fraction of our manufacturing. A small fraction of a percent of our manufacturing footprint is left in Germany, which is probably the country which could be mainly affected by natural gas shortages. The final question concerns the pulp market dynamics currently. The question is whether we would like to describe the situation in the pulp market right now. Yeah, we are not forecasting pulp prices. We are always preparing our commercial strategies based on, let's say, the current situation and the current cost level. There are other industrial experts who provides various predictions and forecasts for raw materials, including pulp. I would refer to those external experts for in order to get a view on how the market is developing. However, if you look at Q2, it's true that quarter- on- quarter compared to Q1, pulp prices were somewhat higher than in the previous quarter. Very good. That was the last question during this session then. If you have any further question, don't hesitate to reach out to me at Investor Relations over the next few days or so, and we're here to support you. Over to you, Hans, final remarks. Thank you, Johan. All in all, we are executing our strategy to build a better company. We are progressing very well with speed and determination, which is demonstrated by the all-time high top line as well as all-time high comparable EBITDA in the second quarter following the previous record quarter of Q1 of this year. We are accelerating our strategy execution with the purpose to purify and protect with every fiber for a sustainable world and with the aim to be the preferred sustainable specialty materials company. Thank you very much, ladies and gentlemen, and I wish you a good day. Take care.
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