Thank you very much. I wish you all welcome to Arise presentation of Q3 2021. My name is Per-Erik Eriksson. I'm the new CEO of Arise. However, I'm not new in the company. I have been working for Arise since 2012 until now as COO. With that, we could turn page and skip the next one and move into the one called Arise in brief. Yes, a brief summary on Arise. Company was founded in 2007 and listed on Nasdaq 2010. We are some 30 employees, quite small company. We have a project portfolio of around 2,600 MW. We will come back to this further on. Since we sold the other ones a few years ago, we have some 140 MW owned power production operations in installed capacity. We have a management portfolio of some 1.4 GW, 1,330-1,550 MW wind power under management, mainly external customers, Sweden and Norway. We have a new record in projects under construction. Currently, we have some 473 MW under construction, projects, Skaftåsen and Ranasjö and Salsjöhöjden. As announced, we have some changes in the corporate management. Daniel Johansson, the former CEO, left the company, and also our CFO, Linus Hägg, will leave Arise in April next year. We have ongoing recruitments on key functions. We expect to share some results regarding recruitments and a new organization before year-end. With that, I'll leave the word to Linus. We can go to the next slide, please. Basically, we issued our quarterly or Q3 report this morning. We're very pleased with the report. Quite strong numbers on the back of higher electricity prices than what we've seen for many years, but also in contrast to 2020, which was a very wet year in terms of hydro, et cetera. But also, of course, due to the fact that we completed the sale of Ranasjö and Salsjöhöjden in July this summer. All in all, a strong result. Net sales came in at SEK 170 million compared to SEK 24 million, driven by the Ranasjö and Salsjöhöjden transaction, but also our production, where development increased from SEK 64 million and production increased by some SEK 29 million. Given the cost structure of the business, it's trickled down pretty well into EBITDA, so we came in at SEK 76 million compared to SEK 0 same period last year, so that's quite a bit of an increase as well. Comparable profit before tax came in at SEK 57 million, and the recognized profit was SEK 54 million, and the delta is basically due to loans in euro, where the euro end of September was a bit higher than the euro rate at the end of June. Obviously, currently, the euro has depreciated, so if that remains, we will have the opposite situation in Q4. Net income came in at SEK 54 million, which corresponds to some 1.4 SEK per share before dilution and 1.3 approximately after dilution. The dilution is 100% related to the outstanding convertible bond that will mature in March next year. Operating cash flow was SEK -1 million. This is due to that we tied up a lot of capital in the Ranasjö- and Salsjöhöjden project sale, but also the fact that we had much higher electricity sales in September compared to June, so that's partly also a normal working capital fluctuation in that number. If you look at cash flow after investments, where you get the full effect of the Ranasjö- and Salsjöhöjden sale, this came in at SEK 64 million. The reason it's not even higher is because we also made some investments in the quarter, particularly the partnership with Hällefors Tierp Skogar, which we will come back to. Production generated some 57 GWh, so that's lower than last year, and this is mainly due to weaker winds than in the corresponding period last year, but also some marginal impact on some GE turbines where we've done some work during the quarter. On the right side, obviously, is the power price, where we realized 755 SEK per MWh in the quarter, which meant that income from production increased from SEK 14 -SEK 43, so quite a dramatic shift. You're well aware, we have a completely new financing structure, which means that we have very strong profitability when we look at numbers like this. As we mentioned earlier, we are cash flow breakeven within our production business just below EUR 20 per MWh, and we are profit breakeven, that is before tax, at just above EUR 30 per MWh. It's completely different cost structure for the production business going forward, and obviously this is you know very exciting times to have such strong performance in the production. As mentioned, we completed the sale of Ranasjö and Salsjöhöjden, where we expect a total profit of some 135 million SEK, of which we booked approximately 48 million SEK in Q3. We entered the partnership with Hällefors Tierp Skogar, and this is super exciting, we believe. This is all in price area three, which is, you know, an area with a structural deficit of capacity due to transmission constraints, et cetera. Very promising. Obviously, a long bet. Development lead times in wind power are long, but the potential is there and we're very pleased with that agreement. Finally, we received the legal force permit for Kölvallen, so we are now in procurement and look to go to market around the turn of the year with a view to close the transaction or sale towards the end of Q2 next year. With that, I'm turning to the next page. After the reporting period, as Per-Erik Eriksson mentioned, Per-Erik Eriksson is now new CEO. I will resign and leave early April. Lastly, for those who have followed us for a longer period of time, back in 2013 through to 2016, we leased our wind farms to a big power consumer, which enabled us to realize higher prices. Since then, the then customer in that lease has been in a process, a legal process, on tax, and a final ruling came out only just after the quarter this year. It's a very, very long process. Unfortunately, that ruling was not in favor of our then customer, and we have to bear a small portion of that impact equating to some SEK 14 million, which we will book in Q4. Just to give some perspective, even with this slight setback from that lease, obviously, it's been a very good deal for Arise even if you deduct this SEK 14 million. It is what it is, and it was not expected, but it will show up in Q4. With that, I'm turning to the next slide and hand it back over to Per-Erik Eriksson. Thank you. Looking a bit into the future, we think we have a promising project pipeline of some 200-600 MW. Looking into the shorter term perspective, late stage development, we have 5 projects in the pipeline right now. We have Lebo, which we intend to realize starting around year-end have an investment decision. We have Kölvallen that we mentioned that we have permit in legal force, and we are in tender process in Kölvallen on turbines and the balance of plant. I can also mention Tormsdale in Scotland, where we have filed applications for permit and also for grid connection. We have here all in all, around 600 MW in the shorter perspective, some three years perspective. In the longer term, the early stage development, I can mention, and Linus already mentioned Hällefors Tierp Skogar, which I will come back to a bit more. We signed an agreement with Hällefors Tierp Skogar giving us some exclusivity in July this year. I think we could turn page. Portfolio expansion. As mentioned, Hällefors Tierp Skogar is a strategic agreement for us, giving us the exclusive right to develop wind farms in a quite strategic area in SE3. We are already in process to start up the works, doing some screening and prioritize the works to come. We see this as a strategic project and potential that we can strengthen the power supply into a region of larger cities like Stockholm, Uppsala, Västerås, and Örebro, where we have a strong need for more power supply in the future. We are also in process in Norway. We already announced the project Stjørdal earlier, but we are in dialogue with other landowners concerning significant project rights in greenfield development in Norway, so that's ongoing. In the U.K., we have also announced earlier that we have a new strategy, diversifying into different geographies and different technologies, and this is one good example in the U.K., where we have a large-scale greenfield solar project, and we are currently investigating potential grid connection, which is one of the critical questions there. We are quite hopeful that we can see a potential to actually have one of the largest ever solar projects in the U.K. in the portfolio. In Poland, we have a bit different strategy where we have, together with a partner, we are in discussions with a handful of smaller developers for acquiring projects in different stages and, yeah, primarily in early phases, we are looking into. We have some concrete discussions on that as well. Yes, I think by that we can turn page again. Some market outlook in brief or what happened in the market during Q3. We had a strong demand price momentum in the power market. We had a dramatic increase in coal and gas prices in continental Europe during the last year. We also seen the CO2 being traded on record levels, about 60 EUR per ton. On top of that, during summer in Q3, we had a deficit in the hydrological balance during Q3. It has improved a bit during the autumn, but during Q3, we had support from hydrology as well. A bit of a perfect storm in terms of power prices. We should also mention that we see quite big differences between price areas. SE2 and SE1 still lagging if you compare to SE4, quite huge differences, mainly driven by the bottlenecks in the transmission system. We have seen a lot of volume in transmission from the east to west to the new cable connection from Norway to the UK, which shed some pressure into the system. We should also keep in mind in the long run that the TSO has announced quite big CapEx program to increase the capacity north-south in Sweden. We see a lot of significant electricity consuming industrial initiatives being announced, like battery factories. We have the green steel and also hydrogen production up north in Sweden. There are plus and minus on that as well. We have seen on record level, I would say, or historically high level of gaps. So German power prices during the period. Spot prices has been traded in the range EUR 70 high in the German market. Also on the forward prices, you can see much higher prices than what we have seen in the history. We also have during this a nuclear capacity that has been reduced in Sweden as well on top of this. That's the market in brief, I would say. With that, we turn page, and I leave to Linus again. Yes. Obviously this price environment had an impact, as we mentioned on our production. If you look to the left-hand graph, you can see the power and certificate price development over a large number of years, but also the realized prices that we have had at the right. Basically in Q3, average prices were just below SEK 906 per MWh, and our realized price was slightly lower, and that is due to the hourly price received for wind power is not 100% corresponding to the average quarterly price, but also due to some hedging or our hedging portfolio. We came in at SEK 755. Obviously certificate has more or less played out its role. 99% is related to power rather than certificate, which, I mean, from one perspective, obviously we benefit a lot from higher certificate prices. On the other hand, I think, on a more macro perspective, it's good that we are, you know, building out new projects and new sites on a subsidy-free basis. It creates more stability and less of a complex world for incoming investors as well. That's a good driver in itself. Production-wise, we had lower production in Q3, as mentioned, but as you can see from the right-hand graph, we have seasonal variation in production, and on top of seasonal variation, we have variation from year- to- year. If you look on an annual basis, maybe the variation is between 80 and 120 on an index 100. If you look at quarterly production numbers, that swing factor is obviously even higher. Also we're introducing that we will report our hedging position on a quarterly basis in conjunction with the Q report. That's included, and you can see that in the table in the bottom right. Basically we have some 40 GW hedge for Q2, or sorry, Q4 this year, i.e., the period we're in now, at an average price in SE4 of EUR 88. For next year, we have approximately 36% of our production in SE4 hedged at an average price of some 80 EUR per MWh. I think we have a good sort of base to start from. Hopefully we will see a strong price momentum in 2022. Even if there's, it's not a perfect storm every day in terms of power pricing, we do believe that there is a structural change in the market ongoing. But in any case, we also will have support from pretty good prices that are already hedged for next year. With that, I'm turning to the next page. We thought it was worthwhile to give you some more input on current trading for the production. As we have announced earlier, we decided to move away from the previous service supplier for our GE fleet and have a new service supplier from 1st of January this year. Unfortunately, the implementation of this has taken longer than expected, and that is due to quality issues relating to the outgoing service provider. Basically, we're not 100% happy with the conditions in some aspects, which means that we will take some costs to implement some measures in some turbines, and that will happen in Q4 and probably a little bit in Q1 2022 as well. This also includes that given that we have this discussion with outgoing service supplier, we have not yet received availability bonuses either, which we regularly otherwise receive. Having said this, we feel that we have a very strong position vis-a-vis the outgoing service supplier. Either we will find an amicable solution to this problem with the service provider, or we will go through litigation just because we have such a strong case, we believe. Having said this, we expect to recoup all of these costs from the outgoing service supplier, but it will, in the meantime, impact us until that has been resolved. I don't think I need to go into the leasing activities again. I think I spoke to that previously. With that, turning to the next page and an update on the projects that we have under construction. Skaftåsen, a 230+ MW project that we sold in December 2019. We have completed civil and grid work more or less, and the turbine installation is ongoing at the site. It's a very beautiful site. We were up there the last month, and it looks really good. Unfortunately, we have some delay on the turbine delivery, partly related to corona. Our contractual setup with the investor and the contractual setup with the turbine supplier is such that we are very well protected for any delays related to turbine delivery. We don't expect any impact from that. However, there has been some cost increases on the grid side, which is more difficult to protect yourself against, given that it's more or less a monopoly. It's gonna be a good project anyhow, and we expect the COD in the summer of 2022. Finally, Ranasjö and Salsjöhöjden, which we sold in July, we have now started construction. And early dates, but everything according to plan. And we expect to complete the project by Q1 2024. With that, handing back over to Per-Erik Eriksson and turning to the next slide. Yeah. Also the last slide, key activities planned for 2021. We have an investment decision for Lebo project, some five turbines, around 30 MW, around year-end, beginning next year. Absolutely important one. We may or probably will finance the project by the company to maximize the flexibility and also the value creation. Having the possibility to sell the project turnkey or whatever we would like to do in a later stage. We are in process to finalize project planning and procurement for Kölvallen, close to 300 MW, 42 turbines. We plan to initiate a sales process towards year-end, and the goal is to finalize the sales process late Q2 next year. The strategy to farm out existing production remains. However, we have a decision taken to benefit from the strong underlying cash flow in the short term. That's a bit new decision. Yeah. We will start preparations to bring Karsekan to the market, a bit pending on when we have the grid concession in legal force. We expect to have that in near term. That's our expectation. We are in process to secure the project pipeline in Poland and the U.K., solar projects mainly in Poland and the U.K. That's it. Yeah. In summary, I think we have a solid Q3 report and, you know, quite a hectic period and exciting period ahead of us. Handing over to Q&A. Thank you. If you wish to ask a question, please dial zero, one on your telephone keypads now to enter the queue. Once your name is announced, you can ask your question. If you find it's answered before it's your turn to speak, you can dial zero, two to cancel. Our first question comes from the line of Olof Cederholm of ABG Sundal Collier. Please go ahead, your line is open. Yes. Hi, it's Olof with ABG. Just a couple of questions from my side. On the hedging, would it been possible to hedge more at these prices? Or have you sort of hedged your most of what you do in SE4 at this point? Linus here. Well, obviously, it's possible to hedge more, but I think it's a combination of wanting to keep certain exposure. Secondly, obviously, given the volatile nature of wind power, you don't go and hedge 100% because then you start to take volume risk as well. The hedging mandate goes up to 70%, and it is some 36%. You could say that we've utilized half of the mandate for 2022. Excellent. How is the outlook going into 2023 at this point when it comes to the potential to hedge volumes? Is it too far out to have a reasonable price, or is that something you would consider going forward? We monitor the market continuously and look into opportunities. What we have seen during the autumn is that as you had a bit of a turmoil in the market, there has been some liquidity issues as well to execute the hedges, especially regarding the EPAD, the price area prices. We certainly will look into the market and take benefits when we see there are opportunities on 2023 as well. The good thing is now we don't have any requirements to do hedges from banks, et cetera, since we have a better financial situation in the company now. Yeah, excellent. If I move on to cost inflation and just specifically how you think about, for example, Kölvallen, when you're procuring now, is there a significant cost inflation on... I mean, we've heard it from others, but just to confirm, how's your view on that? Also, do you think that the higher electricity prices in the market will offset this when it comes to your return on the project? We had obviously raw material prices peaking during this year. Also we had, especially you had steel prices, you had copper prices, metal prices in general, and also the logistics, the transport cost has increased as well, meaning that especially the turbine suppliers are facing some challenges on the cost base, which means that they want to compensate by increasing prices. The feeling we have, we will have a better answer actually when we have received all the tenders, which will happen during early December this year. The feeling we have is that we still can achieve a very good margin in Kölvallen project. If you know any impact on electricity prices, I think obviously there's been logic when we do transactions. You know, they are quite long. I mean, asset life of more than 30 years, and obviously investors plug in various long-term price curves in such transactions. What we've seen now, you know, there's been a big impact toward the short end of the curve, driven by commodity prices, etc. But obviously there has been some impact on the longer-term curve as well, but that's much more sticky. I mean, it doesn't move up or down as dramatically as the short end of the curve does. Obviously from a psychological perspective or whatever you wanna call it, obviously it's better to transact when there is a strong price momentum than the opposite. We have done the opposite for a long time successfully, so hopefully it has an impact as well. We should keep in mind that Kölvallen is an extremely good wind location, wind resource in this area, and we expect to see extremely good production in this wind farm, which certainly will help to help the profitability in the project. Excellent. My last question is on taxes. You didn't have any taxes in the income statement in the quarter. How should we think about that in sort of Q4 and onward? Yeah. I think basically we have, you know, principally, I mean, if you look at least from a, you know, absolute number of millions of profit, we have basically two big generators of that. That is the project development side, where we sell these assets, you know, and they are incorporated, so basically tax-free sales. We have the production business, which obviously has a normal income tax, where we have, given that these assets have a lot of tax losses carried forward, I think we still don't expect to pay any cash taxes for many years to come. We also have a lot of tax loss carry forward. There might be from time to time, you know, a charge to the P&L for taxes, but there will be no sort of cash taxes payable in the near future, at least. Very good. Thank you very much. You're welcome. Thank you. Thank you. Our next question comes from the line of Magnus Skog of Erik Penser Bank. Please go ahead. Your line is open. Hello, Linus and Per-Erik. I have a question regarding the sale of your own wind farms. It sounds like you're not gonna conduct any sale in the short term. How long is a short term? Do you expect that you could do it from 2023 and onwards, or could it happen already next year, or how do you reason? I think basically we reason that we have such a strong you know cash flow profile next year for the assets that you know in the interim we have decided to hold it off slightly. We do expect to realize that strategy. It's sort of a discretionary decision that's been made. We still expect to do that in sort of a reasonably near term i.e., not meaning this year, but maybe if we speak again in the next nine months report. Yeah, yeah. Probably we are talking about late 2022, early 2023 or something like that. Yes. Super. Regarding the charge of SEK 40 million, is that over now, or could it become more, or could it become less? No, I'd say that that's done. Okay, super. Yes. That was all from me for now. Thank you. Thank you. Thank you. We have one further question on the phone so far. That's from the line of Henrik Alveskog of Redeye. Please go ahead. Your line is open. Yes. Hello, gentlemen. Well, a follow-up first on the higher prices for turbines, et cetera. Is there any way for you to de-risk this sort of well uncertainty or do you think that the overall risk in your project has changed compared to earlier as a result of this? You mean, for Kölvallen in particular or more general? No, just general since, well, since prices have increased quite dramatically in some respects, and it's well, projects are running for several years. I think one has to, if you isolate, you know, the topic of some price increases, I mean, I think, okay, they are likely to be up, but how dramatic? I'm not sure it's as dramatic as it may sound on this call, but I think you also need to look at it from a, you know, a more holistic perspective, that that's one component of the equation. Some of the other components are yield compression on that is ongoing. We have a power market that is much more healthy than what it has been in the past. From an overall risk perspective, I would argue that if you go back 12 months and compare the situation now from a project portfolio perspective, I think we are in a better position now than 12 months back. Mm-hmm. All right. Yeah. There are some potential also for improvements on raw materials like transport prices and metal prices. Normally, when you have a peaking market like that, you have some kind of bounce back also. There are also possibilities to handle that risk in the contract. Obviously, we want and maybe a third component or an additional component to this is also technological development. I mean, price increase per se may, to some extent, also be offset by more efficiency as well. But in terms of risk, for instance, like Kölvallen, obviously we're tendering now, and once you have finalized the tender, you will have a fixed price for a period of time. You would have visibility towards the investors what type of transaction you're doing. Mm-hmm. All right. Great. Thanks. Another question. Thank you. A totally different question. I saw here that you are now entering into Finland on your asset management side. You haven't talked much about Finland before. At least I haven't heard that. Do you have plans to expand that into development maybe also, or could you just give us an idea what you see in Finland? Yeah, we are always looking into new markets and in particular the Nordic markets, as we see that the Nordics as a home market. We have been in some processes in Finland as well. We see this asset management contract as it's a possibility for us to enter into the market, and we establish in the market. We are talking here about some 220 MW in all in five wind farms. It's a fairly big asset management contract for us. We see this as an opportunity certainly to enter into the market, also looking into development in the future. All right. Well, thank you. Thank you. Thank you. If there are any further questions, please dial zero, one on your cellphone keypads now. Okay. There currently seems to be no further questions on the phone, so I'll hand back to our speakers. Thank you. We don't have any questions online either from what we can see. I think, with that, thank you all for participating in the call. Yes. See you next time around.