2021. For the first part of this call, all participants will be in listen-only mode, and afterwards, there will be a Q&A section. Today, I'm pleased to present CEO Johan Andersson. Please go ahead with your meeting. Thank you. Hello, everyone, welcome to the presentation of the Q1 results for Addnode Group. My name is Johan Andersson, and I'm the CEO of Addnode Group. Together with me is also our CFO, Lotta Jarleryd. Next slide, please. I think we can skip one slide more as well, going to the slide Addnode Group digital solution for a sustainable future. For those of you who are new to the company, I just want to spend a minute on Addnode Group. We have sales of approximately SEK 3.8 billion in 2020. We have operations in 19 countries, and we are organized into three divisions. Division Design Management is one of Europe's leading suppliers of digital solutions for design, BIM, and product data to architects and engineers in the construction and manufacturing industry. The division also has a strong offering in product collaboration and asset management in the Nordic region and the U.K. Division Product Lifecycle Management is a global provider of solutions for digitizing a product or a plant's entire life cycle, from the idea, design, simulation, and construction, all the way to sales, after market, and recycling. Our third division, Process Management, is a leading supplier of digital solutions to the public sector in Sweden. With that introduction, I would like to move on to the agenda for today. Next slide, please. During this presentation, we'll walk you through Q1 2021 for the entire group. Also dive into the three divisions, Design Management, PLM, and Process Management. We'll spend some time on cash flow and financial position, also on acquisitions, our sustainability focus, and end up with a summary of our investment case, and then open up for questions in Q&A. Next slide, please. Looking into Q1 2021, the net sales decreased by 16% to SEK 1,036 million, compared with the same period a year ago. Considering that the first quarter last year was a record quarter in terms of net sales and EBITDA, I believe the outcome this year is strong. Our cost-cutting measures have generated results, and we delivered EBITDA at the same level as last year. All divisions contributed to an improvement of the EBITDA margin to 10.3% compared to 8.8% last year. The Process Management Division, which focus on the public sector in Sweden, has had continued organic growth with 4% and an EBITDA margin at a stable high level. Net sales among industrial customers in the Design Management and PLM divisions have been negatively affected by lower demand, primarily in the U.K. and the U.S., while the Nordic countries and Germany had a stable market this compared to last year. A high share of recurring revenues contributing to stability in our revenues, which accounted for 69% of the total during this quarter. We also announced that we acquired the software company S-GROUP Solutions, which had sales of SEK 144 million and EBITDA of 27 million in 2020. When we talk about EBITDA, that's without capitalizations. S-GROUP Solutions is a great addition and strengthens our offering to the public sector, especially Swedish municipalities, and we completed acquisition in Q2. It will not be part of the Q1 result, but it will be from Q2 going forward. We're still not through the COVID-19 pandemic, but there is stable demand for our digital solutions. As usual, we will walk you through each division separately later. Next slide, please. As you can see in the graph, Q1 2020 was a record quarter for net sales and EBITDA, which makes for a challenging comparison this year. Even though the group's net sales were lower in Q1 2021 this quarter compared to the corresponding quarter last year, EBITDA was maintained at the same level due to swift adjustment of our cost structure. Our cost-cutting measures have generated results, and we delivered EBITDA at the same level as last year, even though net sales dropped 16%. Completed cost savings are mostly enduring. Costs, for example, travels are expected to rise as societies are opening up, albeit at a lower cost level than pre-COVID. Going to the next slide, please. Three divisions. Addnode Group, as we mentioned earlier, organized in three divisions, all providing sustainable digital solutions to customers in both the private and the public sector. With that as an introduction, I'd like to move on to the next slide, Design Management. For the Design Management, net sales during the first quarter of 2021 amounted to SEK 533 million compared to SEK 722 million last year. The decrease in net sales was entirely organic and amounted to 26%. Adjusted for currency effects, the decrease was 23%. Even though net sales dropped significantly compared to last year, I'm pleased with the Q1 result for Design. Digital solutions for facility management, the collaboration solutions for construction and infrastructure projects show continuing stable development. The Autodesk-based offering faced some really tough comparable this quarter. Last year, organic growth was very strong, driven by both a strong market and a higher portion of three-year subscriptions sold. Looking at specifically here at Q1, the demand from architects and technical consultants shows continued stable development, while demand from industrial customers was lower. At the same time, the market conditions in the U.K. were more challenging than a year ago, even though they are stable. However, we are landing new sales and winning new business. For those of you who are new to Addnode Group, I would like to address our subscription and the revenue recognition principles with regards to that. Last year, we sold a lot of three-year subscription deals, meaning that last year was a little bit boosted by that, because according to the revenue recognition principles for the Autodesk software that we sell, we recognize the full value of the period in the month that the starting period for the contract. The customer also pay up in advance, so the cash flow followed their revenue recognition principle. That means that last year we sold more three-year deals than we usually do, and that gave sort of a boost. That also added to that. I just want to tell you that just as a background that when we are saying that the market is still okay, even though net sales are dropping, so there were a boost last year that everyone needs to be aware of. What we have done in the meantime is that the lower net sales, after a large extent, have been met with a lower cost structure. EBITDA decreased to SEK 61 million compared to SEK 67 million last year. The EBITDA margin strengthened to 11.4% compared to 10.5%, that goes back to the reason I'm saying why I'm still pleased with the outcome of this division, because we have been able to address the lower net sales with a more efficient cost structure and improving the EBITDA margin. With that, I would like to move on to the next slide, Product Lifecycle Management. For PLM, net sales decreased by 7% during the first quarter to SEK 283 million compared to SEK 304 million. Acquired growth was 2%, organic growth was -9%, -5% adjusted for currency effect. The division as compared to last year, has seen lower demand from customers in the manufacturing industry, but saw greater interest from the life science and auto industries. Business in the Nordic countries, Benelux and Germany was stable with a number of large license agreements during the quarter signed and delivered and paid for. The market conditions in the U.K. and the U.S. were more challenging, however. EBITDA increased with 80% to SEK 18 million and the EBITDA margin strengthened to 6.4% compared to 3.3% last year. The restructuring program that we announced and completed last year has been carried out and has yielded the intended cost savings. With a better cost structure, we are now in a position to focus on growth in this business area. With that, I would like to go to the next slide, Process Management. Net sales in Process Management increased by 5% during the first quarter to SEK 225 million compared to SEK 214 million. Organic growth was 4%, and we have been able to continue to grow this business organically. Demand for the division solution for document and case management, citizen services, and municipal technical systems remained good during the quarter. The division's business are well-positioned for public sector tenders owing to attractive digital solutions, solid experience, and good references. The acquisition of S- Group is a good example of how we can broaden our portfolio to the public sector. I'm really pleased that the division is able to continue to grow organically and improve operating margins. EBITDA increased to SEK 39 million, and the EBITDA margin strengthened to 17.3% this quarter. With that, I would like to hand over to Lotta, who will walk you through the cash flow and the balance sheet. Yes. Thank you, Johan. I would like to start with an overview of the consolidated cash flow. Operating cash flow was strong in the first quarter 2021, amounting to SEK 150 million. This represents the cash conversion rate at 1.4x, and that is operating cash flow to EBITDA. The lower operating cash flow compared to previous year is mainly attributable to lower contribution for working capital. Net working capital is however still negative, as well as lower than at the same point in time a year ago. With regard to cash collection processes, the share of accounts receivable that is overdue now is lower than before the COVID-19 pandemic, and we haven't suffered any significant credit losses. With regard to cash flow from investing activities, the amount refers to earn-outs derived from previous acquisitions and investments in software. Financing activities in the first quarter refers to leasing. No amortization of external debt was made during the quarter. Please also note that the board of directors has proposed to the AGM a dividend of SEK 2.5 per share. This corresponds to a total dividend of SEK 84 million to be paid out to the shareholders in the second quarter. Next page, please. Continuing with some comments on the consolidated balance sheet. We continue to operate supported by a strong balance sheet, which gives us a favorable position to continue to grow the group through acquisitions. In 2020, a year with many challenges due to the COVID-19 pandemic, we managed to increase both net sales and EBITDA. We had a strong cash generation and by that managed to build a solid cash position. Together with the generation of another SEK 105 million in the first quarter 2021, our available cash was SEK 779 million by the end of March. In addition to that, we had another SEK 250 million in revolving credit facility for acquisition purposes and an unutilized overdraft facility of SEK 100 million. External debt was about SEK 750 million, and leasing debt amounted to SEK 120 million. Net debt was consequently very low at SEK 88 million by the end of March. The equity ratio was 39%, and return on shareholders' equity was about 10%. Other larger changes in the balance sheet items from December 31, 2020, mainly refer to currency translation effects and seasonality variations. I'll hand over to you, Johan. Thank you, Lotta, for that introduction and presentation. With that, we would like to move on to the next slide, acquisitions 2020. Acquisition-driven growth is a key element in our strategy. During 2020, we made four acquisitions that together added SEK 570 million in sales and contributed to us gaining 170 new skilled employees. As you can see on the slide, we did acquisitions in U.K., Norway, and Sweden, we did acquisitions in all of our divisions, that is what we expected to grow moving forward. We would like to continue to grow in all divisions. With that, I'd like to move to the next slide, focusing more on the latest acquisitions that we made there. Far this year, we have completed one acquisition. At the end of March, we announced that we had acquired S-GROUP Solutions. The company is a strong addition to our existing operation in Process Management. S-GROUP Solutions had sales of SEK 144 million and an EBITDA result of SEK 27 million in the financial year 2020. The acquisition strengthens Addnode Group's market-leading position in Sweden within municipal systems and solutions for the smart city. Acquisitions are a part of our business model, and at all times, we are engaged in a large number of dialogues with interesting acquisition candidates. We have a strong cash flow and a strong financial position like Lotta mentioned, which give us favorable conditions to further expand Addnode Group. Part of our business and still looking for new acquisitions. With that, I would like to move to the next slide, long-term sustainability focus areas. During the past year, we began working more systematically with sustainability. For Addnode Group and our companies, it has been long natural and obvious that the digital solutions we deliver are used to drive societal development forward in a more sustainable way. Now we are no longer content with that. In 2020, we initiated a group-wide project to identify focus areas, key figures, and the global goals that we believe we can contribute to as a group and a company. Our five focus areas are that our digital solutions contribute to sustainable development, because that's the foundation of what we do and the basis of everything. That we care for people and the planet in our own operations, how we work with our partners and suppliers, and that we must be long-term financially strong. In order to make all this happen, we need to have a structure for sustainable management and governance. When adopting our work to the UN Global Goals, we have identified six goals with the closest connection to Addnode Group's focus areas. Good health and wellbeing, gender equality, decent work and economic growth, industry, innovation and infrastructure, sustainable cities and communities, and climate action. The work is now being continued in line with our decentralized management structure, where division heads and subsidiaries take great personal responsibility with the support of common guidelines from the parent company. We will report the progress that what we do, but in the meantime, I recommend that you read the sustainability report in our annual report. The Swedish version is already released, and the English version is expected to be published on our website May 4th. More to come. With that, next slide, please. Investment case. In summary, I thought I would end with a few short words about how our strategy and business model create value for our shareholders. We see primarily four components that drive value growth in the Addnode Group. The first component is our acquisition-driven growth strategy. We create sustainable value growth by continuously acquiring new businesses, but also by actively supporting our acquired companies to drive organic growth. We have completed more than 60 acquisitions over the past 15 years, thereby both building extensive experience and refining our acquisition process over time. We have grown with good profitability. The average growth in net sales over the past 10 years has been 14% yearly. The second component is our focus on sustainable digital solutions. Our solution for design, simulation, product data information, and case management meet global trends in digitization, urbanization, and sustainability. The regulatory development also places even higher demands on transparency and traceability. We also see that the pace of digitization has increased further during the COVID-19 pandemic, both in the private and the public sectors. The third component is our business model, which means that approximately 65% of our net sales consist of recurring income. Our services are usually directly related to the digital solutions we offer, so customers often return for advice, further development, or integration with other systems. We have a strong cash flow generation, thanks to a large proportion of advance payments at the beginning of the year and a low need for investment in addition to the products that we develop. The fourth and final component is the diversification across markets and customer categories, which provide a good spread of risk. We are active in several geographical markets. We have customers in both the private and the public sectors, and we have customers in many different industries. We are not dependent on individual customers either, but we have built many long-term customers and relationships during the years. With that as an introduction to the Q1 result in 2021, I would like to open up for questions. Thank you. Thank you. If you do wish to ask a question, please press zero one on your telephone keypad. If you do wish to withdraw your question, you can do so by pressing zero two on your telephone keypad. Our first question comes from the line of Fredrik Nilsson from Redeye. Please go ahead, your line is open. Hello, Fredrik Nilsson from Redeye here. Hello? Hello. One question on Design Management. The margin seems really strong. Could you elaborate a bit on the effects of the cost reductions and also the mix effect? Looking at the cost, our biggest asset and our biggest cost is the personnel in our business. Compared to Q1 last year, we are fewer people producing the same amount of customer value, meaning that we have structurally lowered the cost that we have done. We also have a portion that could be debated on how sustainable it is with regards to traveling, meeting customers at trade fairs, and et cetera. That will definitely be lower going forward, but some of that will sort of come back. We need and we would like to meet our customers going forward. A few SEK million of that we will have to spend going forward. I don't see that happen until the end of this year, actually, because we are still in opening up in different countries, in the societies. We are also learning to address and meet with our customers in a more digital way, meaning that we do so much more over Skype, over Teams, over Zoom, and addressing that. It's tough to say. A lot of it's structural, meaning that we have that going forward, and some of it will come back. We also, we should see we have probably the mix, meaning that our own IP that we are doing in the facility management and the project collaboration is doing well to adding to this as well. Okay. I don't know if that answers your question, Fredrik. I think it does. Thanks. One more question from me. PLM, while there certainly are some seasonalities, the margin there seems a bit on the low side compared to what I expected, considering the very strong number in Q4. It seems like the market has taken a downturn, maybe a little bit at least. Could you elaborate a bit on the situation in PLM? I think the first that you mentioned makes more sense. The other two divisions, there are not that much seasonality due to the term business. In this division, we have more of a seasonality, meaning that the fourth quarter is always the strongest with regards to margins and sales of licenses. It's tough to compare the margins in Q1 with Q4 because the way of the business is that the customers are used to buying licenses at the end of the year and ending that. You sort of take a deep breath in January, and then you start all over again, the cycle. There is seasonality, and I think what we can see is that in the PLM, they have done a really good job with the cost reduction program, and we can see that the margins compared to last year is going up, even though net sales are going down. I'm not that worried on that subject. I'm more focused on the positive trend there. Okay, I see. Thanks. That's all from me. Thank you. Thank you. We have no more.