Welcome to the Arise Q4 conference call. For the first part of the conference call, the participants will be in listen-only mode. During the questions and answer session, participants are able to ask questions by dialing star five on their telephone keypad. I will hand the conference over to the speakers. CEO Per-Erik Eriksson and CFO Markus Larsson, please go ahead. Good morning to you all. This is Per-Erik speaking. We will give you a brief intro of the company. We'll also go through the numbers, some market conditions, achievements in 2022, and also what we expect for 2023. I will start with a brief introduction of the company. I hope you can see the slide now. Starting up with the Arise being founded in 2007, listed on Nasdaq in 2010. We have, during the recent year, increased the number of employees. We are just about 40 currently. Arise, we have three different business segments. You have the original Arise. We started up as an IPP. The production part, we have 139 MW in our own production, corresponding to some 340 GWh power production annually. We have a development business, the second business segment, including both wind and solar developments in selected geographies. Currently, we have a project pipeline, just about 3 GW or 3,000 MW. Until date, the current date, we have divested some 1.3 GW or 1,340 MW. The third leg is what we call solutions, our services business. We have currently, just about 1,800 MW under management, operations management. On top of that, we also have under construction management, record level of 800 MW currently under construction. With that, we flip slide, and I'll leave the word to Marcus. Thank you. Looking into our Q4 numbers, net sales for the quarter amounted to SEK 106 million, compared to SEK 79 million the same quarter last year. EBITDA came in at SEK 52 million, and EBIT at SEK 37 million. Comparable profit before tax amounted to SEK 50 million, and the reported profit before tax was SEK 36 million as compared to SEK 13 million the fourth quarter 2021. Looking at net income, a total SEK 36 million, which corresponds to about SEK 0.80 for the quarter, an increase compared to the same quarter last year, which was SEK 0.33 per share. Operating cash flow was SEK -3 million, this was an effect of working capital build-up during the quarter. The cash flow after investment amounted to SEK -76 million, in all material aspects driven by our investment in the Lebo projects. Looking at our own production, we generated 79 GWh compared to 82 GW the same quarter last year, but the average income increased to SEK 857 per megawatt hour compared to SEK 812 Q4 2021. After the reporting period, worth mentioning that we entered into an agreement with Persson Invest, where we see an estimated potential of up to 500 MW. Brief look into our segments. Development posted EBITDA of SEK 24 million for the quarter, which was related to the revenue recognition for Tjärvallen for the full quarter. We also saw during the quarter, we intensified our efforts to secure new projects. The Persson Invest agreement after the end of the period marking kind of the first step in that direction. Including that, we now have a project pipeline of more than 3 GW, which Per-Erik will get back to in a bit. Within production, we saw somewhat weaker winds than normal, but a realized price which was at all-time high level of SEK 857 per megawatt, giving an EBITDA of SEK 50 million for our production segment in Q4. Later on when we add Lebo to our own production and also with our share of the Tjärvallen production, the annual energy production will increase from about 340 GWh at the moment to about 520 GWh by 2025. Solutions. Another quarter with positive EBITDA in Q4, continuing to position itself for new assignments, seeing some benefits from economies of scale. That was briefly about our segments. I'm handing back to you again, Per-Erik. Thank you. This slide shows a bit the development of the company until now. In the upper left, you can see a staple diagram showing our operating assets, and also you can see a green line, which is the investments we've done until now. As you can see, from 2013 and onwards, we developed a strategy to also include a development business. As said, 1.3 GW invested until now, and the results from that, we have been using the last 10 years, you could say, basically to decrease our debt. We are quite happy to see that we have managed to do that in a good way. Actually now we have a net cash position for the first time in a few years. This also means that we have positioned ourselves to manage a growth strategy which we have now, and that we have growth initiatives in all business areas. Both, we are looking onto inter-organic growth to look into finding agreements with landowners as well as we are looking into M&A opportunities, product portfolios, and also actually operating assets. We have the possibility now to be active in the market in a different way. We are changing slide. Looking into our product pipeline, we have increased the pipeline a bit since the last quarter. I will, yes, soon tell you what happened. Starting with the late-stage development, we have three projects, which we have Falsterbo, as a 200 MW. We expect to have ready to build this year. We also have Finnåberget, wind, 120 MW, and Tormsdale, a wind product as well, including a battery storage in Scotland, 70 MW. The later two we expect to have ready to build within two years. All in all, we have in the short term, 300 MW in pipeline, late-stage development. Looking on the early-stage development, we have some changes since last quarter, and Marcus mentioned that we enter into an agreement with Persson Invest. We have an indicative potential around 500 MW in that within that agreement, which we have added here. We have some 2.8 GW early stage development in the portfolio at this moment. Looking a bit into the market conditions, obviously 2022 was a bit of a special year, given what happened in the market. We enter into the winter period with a quite high risk for capacity constraints. I would say the European energy system was a bit tested, I would say. It turned out that the winter was quite mild, at least until now. I will also say that the outlook is still mild, meaning that the risk for capacity constraints has diminished quite much. I don't expect that we will have any consumption containments. You never know, but it looks fairly good. Also we can see that the power demand has decreased partly due to energy efficiency, due to high prices, but also due to the fact that we had a quite mild winter. Fuel prices still on a high historically high level, but comparing to the peaks we have seen during 2022, it has quite sharply down from the peaks. Looking into the Nordic markets, we still have high and volatile prices across the Nordic market, different price areas. SE1, SE2 have been trading a bit higher. One thing is that the transmission worked better North, South in Sweden, but also we had quite severe icing conditions during November, December in Northern part of Sweden. Hydro situation on the weak side. I would say within a comfortable range. It's not no extremes what we're seeing in the hydro situation. Looking into Continental Europe, the gas storage levels are quite high in the end of the year, which is good. The LNG deliveries to fill up the gas storages has been quite strong during the year. That was one of the main concerns last year that we wouldn't have gas in Continental Europe enough for the demand. That has actually worked. The market has solved that situation. Also in general, we see energy savings having an impact also on lower consumption. Also looking into Continental Europe, spot price is still on a very high level, but came down from the extremes we have seen during the year. Our expectation on the market, we believe that we will see a high-price environment also during this year and next year. And also high volatility still, but somewhat calmer than what we saw in 2022, I would say. With that, I'll leave the floor to Marcus again. Good. If we look at the market prices on the left-hand side, Q4 again saw very high market prices and also, as mentioned, high volatility. We can also see in the chart that following the somewhat weaker Q3, we now saw all-time high realized prices of almost 866 MWh. At the top right-hand side, if we look at our production, as mentioned, Q4 came in at 779 GWh, which was somewhat below normal. 2022 as a whole was 15% below budget due to weak winds this year. However, one should keep in mind that this obviously varies over the years, and if we look at the average over the past 10 years, the actual outcome of our production is more or less spot on budget. Just to take away from that. On the hedging side, we have added some additional volumes for 2023 and 2024 at prices well above EUR 100 MWh. This is something that we continue to monitor going forward. Key achievements in 2022, just to sum up the year. In the beginning of the year, we issued a green bond of EUR 50 million, which of course makes us improve the capitalization of the company. We had an investment decision to construct Lebo, now ongoing, 33 MW, adding 90 GWh annually to our production portfolio. And in July, we managed to finalize the sale of Kölvallen, 277 MW, which we had a purchase price of EUR 100 million, which of course was good. We have a retained 9% ownership, which means that we are basically adding some 80 GWh to our production portfolio when we have the project in operation. We have continued the focus to increase and secure our project pipeline according to the strategy that we have communicated earlier. Wind and solar in different selected geographies. An example is what we managed is that we have now started to build up a solar PV portfolio in Sweden. Some first 50 MW achieved in 2022. In the beginning of the year, we signed an agreement with Persson Invest regarding possibility to exclusivity to develop wind power on their land. To sum up 2022, a great year for the company result-wise, and also we have positioned the company for a growth strategy. Moving over to what we are aiming for in 2023. We have a strong focus so to increase the project portfolio. Sweden, wind, solar, U.K., wind, solar. I can mention that we have been focusing very much on solar in the U.K., but now it has opened up also for onshore wind in the U.K. We are building up a team to manage that at the moment, as we speak. We are looking into the Nordics as a core market, Finland, primarily wind we are looking into. Mainly we are talking about here agreements with landowners, but we are also selectively evaluating acquisition opportunities in project portfolios, but could also be operating assets. Obviously, we have a lot of construction projects ongoing, some 800 MW, and then we have a strong focus, of course, to manage these projects in a good way and to have them finalized. Another target is to. We earlier mentioned the late stage developments and Fasikan project some 100 MW. We are aiming for to bring that to be during the year as well. We have also already communicated the first solar PVs projects in Sweden in the pipeline, and we're aiming for to realize that the first solar project could be two as well in Sweden during the year. We have an ongoing strategy to strengthen the organization in order to support the growth strategy. U.K. team is one thing, but we are looking into increasing the organization, strengthening the organization in general. Of course, that will be handled in a disciplined manner. To sum up, we have high expectations also for 2023. We think we have good conditions, that means that we could have another great year for Arise. With that, I think we leave the floor open for questions. Yeah. If you wish to ask a question, please dial star five on your telephone keypad to enter the queue. If you wish to withdraw your question, please dial star five again on your telephone keypad. The next question comes from Hanna Forsgren from ABG Sundal Collier. Please go ahead. Hello, Per-Erik and Marcus, thank you for the presentation. I have a few questions. The first one is regarding the group cost elimination. In 2022, you had about SEK 41 million in elimination, and I'm wondering, is this a normal level? Should we expect same levels in 2023 and forward? Could you give us some color on what would these eliminations are? Sure. Hi, Hanna. Hi. I see where you're coming from. As mentioned in the report, large part of the non-allocated cost for the quarter, I mean, typically that includes certain administration costs, and so on, where the previous quarters probably have been on more or less a normal level, while they might pick up somewhat as the organization grows. The major item that you'll see in the Q4, which you maybe didn't account for, is costs for our variable remuneration program, which for Q4 amounted to SEK 16 million. My second question then, looking at the profitability for developments in 2023, is Q4 a normal level with mainly revenue recognition from Kölvallen? Sorry, we need to increase the volume. Sorry, could you repeat that, Hanna? Absolutely. No worries. Looking at the profitability for development in 2023, is Q4 a normal level with mainly revenue recognition from Kölvallen? I think that's kind of a difficult one to answer. I think you should keep in mind that the revenue, in essence, the revenue recognition is not a, kind of a 100% straight line. There will probably be deviations between the quarters. You cannot say that that one quarter is a proxy for the coming quarters. Looking at the hedging program, are new hedges the same, designed the same way as the previous one? Yes. They are baseload hedges, right? Yes. That's all for me. Thank you very much. Thank you. Thank you. Please state your name and company. Please go ahead. Hi, this is Örjan Rödén at Penser Bank. A few questions, if I may. The first one is regarding Lebo. Could you please update us on the timeline here and whether you feel very comfortable or a bit uncomfortable regarding potential delays? The second question is related to your growth ambitions. You have listed some of the areas here. Could you elaborate a little bit on these three lines where you want to... Where is the biggest probability that it will grow and how do you view the commercial prospects in these different areas? Thank you. Should I? Yeah. Yeah. Starting with the Lebo project, that is ongoing according to plan, and we expect to have that in operation first quarter next year. We don't have any hiccups so far on time schedule there. That is expected to happen in time and within budget as well. The next question, Örjan, was regarding our growth initiatives, right? Exactly. How do you, if you kind of rank them between where do you see the best prospect and where do you see the challenges between these different areas? Yeah. Looking into Sweden, wind and solar, we are focusing a lot on finding small scale projects on wind and solar and adding them to our portfolio. Where we are also looking into larger scale opportunities in Sweden as well. Finland is Nordics in general, let's start with Sweden and Norway. We have some ongoing projects there, we are continuing on those projects. This is they are greenfield projects. Norway, it's a bit tricky situation right now due to the fact that there are new taxes that are proposed to be introduced that will have a big impact on the profitability for projects in Norway. There is a lot of political risk in Norway at the moment. Most likely we'll, in any case, make sure that we are finalizing the development part of our projects and see it's not a huge spend for us to do that. Finland clearly an interesting market, quite low political risk, I would say. We are continuously looking into opportunities in Finland, and hopefully we can do something there as well during the year. U.K., quite interesting. It's a busy market, it's a quite mature market, but still we see opportunities in the U.K., And we are building up an organization to start chasing projects both on wind and solar in the U.K. Interesting to see that they have changed the policy in the U.K. or in England, I should say, to open up for onshore wind, which is quite interesting thing. As we are already established in the U.K. with our projects in Scotland, it's natural for us to continue. We also have one of the group management members is an Englishman as well, so which also helps to, we are a bit established in the U.K. We have also been quite active with a partner in Poland. Poland is a bit of a question mark, like Norway, I would say. A bit political risk. They are introducing some cap pricing in Poland. We are a bit evaluating what to do in Poland moving forward. We'll see that that's something that is ongoing. All in all, we are optimistic that we will have new agreements during 2023, and I would be extremely disappointed if we don't manage it. Okay. Thank you very much. As a reminder, if you wish to ask a question, please dial star five on your telephone keypad. There are no more questions at this time, I hand the conference back to the speakers for any closing remarks. Thank you. Yeah, the only closing remarks we have is that we are extremely pleased with the outcome in 2022. We really look forward for 2023 as well to be a good year for the company. I think that's the closing remark, and thank you very much for joining. Thank you.