Thank you very much, good morning to everyone. Welcome to this Q4 2020 call for Arjo. Thank you for dialing in, and I will, together with Daniel Fäldt, use the next 30 minutes to take you through the Q4 report that we just released. Next slide, please. I will start by giving you a business update for both the quarter and the full year of 2020. I will also address some business highlights and the outlook for the full year in 2021. Daniel will then walk you through balance sheet items, and we will finish off with a short summary before we open up for questions. As always, we aim at keeping this call to an hour and finish at 9:00 A.M. Next slide, please. Let's start with an update on the business. Next slide, please. 2020 has been a year like no other, and I am very satisfied and truly proud by the way our organization has tirelessly continued to support healthcare across the globe to meet challenges surrounding the COVID pandemic. Our decentralized operating model has stood strong and provided very good flexibility to allow each market to address business opportunities and challenges in a good way. By navigating the situation in a very good way, we have continued to meet short-term financial targets that has allowed us to continue to invest in our organization and our long-term journey. For the full year, we achieved a 3.9% organic net sales growth, which was well aligned with our plans entering into this year, falling to 2020. The invoicing has been well supported by our order intake throughout the year, and we are entering into 2021 with a significantly stronger order book than at the same period last year. We have, through good operating leverage and good cost and price control throughout the organization, managed to increase our gross margin with more than 1.6 percentage points. Our OpEx as a percentage of net sales has continued to drop, thereby allowing our EBIT before restructuring to grow with more than 30% for the full year, establishing ourselves above the 10% adjusted EBIT and 21% adjusted EBITDA margin. Our financial position has strengthened significantly during the year. We have done a very good job around our working capital and thereby improving operating cash flow with more than SEK 1 billion compared to 2019. Our cash conversion for the full year is well above our target and lands at 123% for the full year. With the above in mind and with good plans in place for future development, we are pleased to be able to propose a dividend of 0.85 SEK, an increase of more than 30% compared to 2019. This is well in line with our dividend policy and our future ability to continue to see a positive trend here. Next slide, please. When we spun off from Getinge and listed Arjo on the 12th of December 2017, we also introduced our business plan, Arjo 2020. This plan was aimed at creating a new company with a stable and decentralized operating model from which we could continue to grow Arjo faster in the years to come. The goal was to turn a negative organic net sales trend since six, seven years into growing the company in a profitable way. We wanted to significantly increase our overall profitability and at the same time ensure a much more effective work with our capital employed and our operating cash flow overall. It is very satisfying to be able to conclude that we have delivered on everything we said in 2017. Today, we are a much stronger company with a solid operating model and internal processes in place. With this strong foundation, we are all set to execute on our future strategy and continue to develop Arjo with profitable, accelerated growth. Next slide, please. We have continued to see a very good development of both net sales and profitability in Q4. The quarter was characterized by the same trends as we have seen in previous quarters. We have continued to navigate the COVID situation very well. We have supported our customers and their patients during this challenging period and at the same time made sure to continue to develop Arjo for the long term. The quarter has had different phases, where we in the beginning experienced better access to healthcare facilities, whereas the last part of the quarter again saw heavy restrictions due to the second wave of the virus. Q4 2020 in isolation has, especially in the latter part of the quarter, had a better than expected outcome, both on net sales and on profitability. Net sales grew with 4.1% organically and profitability increased on all lines in the P&L. This despite significant negative currency effects, both translation and transaction. As before, our operational leverage and good cost and price management throughout the value chain contributed to our solid performance in the quarter. The U.S. business has continued to be a significant contributor to our overall development, in particular the rental business, where we have seen critical care solutions driven by the pandemic, but also very good performance on our core rental with long-term effects. Our capital sales of medical beds have also continued to grow based on significant COVID-19 demand, especially in our rest of the world region. With the same pattern as before, we have, especially in the latter part of the quarter, been affected by the restricted access to healthcare facilities in general, and in particular to long-term care. This led to a continued negative impact on sales in our patient handling and hygiene categories. On the positive side, we started to see good order intake in the back end of this quarter in these categories. Our DVT sales in U.S., Australia, and Europe have also seen lower sales than Q4 2019 and pre-COVID run rates based on postponement of elective surgery. Service started well in the quarter. Due to increased restricted access, mainly to long-term care in the second part of the quarter, we had an overall net sales decline in our service business compared to the same period, 2019. Gross margin in the quarter increased to 45.3% versus 44.6% in Q4 2019. The main driver is a significantly improved operational leverage in our U.S. rental business through the increased volumes and good cost control. Our supply chain has continued to do a very solid job to adjust for the swings between product categories and have been able to slow down when necessary and accelerate when needed. Our financial position remains strong. Our actions within working capital have shown very good results during the quarter. We achieve a record high operating cash flow for a single quarter and cash conversion for the quarter is a record high 166%. In parallel to handling the current demand, we have invested in our long-term journey. The implementation of the new strategy is off to a good start with solid buy-in from the organization. In summary, I am very satisfied with our performance in Q4, which also supports a good start into 2021. I am very pleased with how the organization has continued to navigate the COVID situation, and I feel comfortable that we can continue to adapt to the different business opportunities also in the months ahead. Next slide, please. Over to some more details on our regional development, and let's start with North America. In Q4, as in previous quarters, we have had a continued strong development of our net sales in North America region with an organic growth of 8.5% in the quarter. For the full year, the organic growth was 5.8%, well aligned with our overall growth expectations for North America when starting the year. Growth in the quarter came largely from our U.S. rental business, where our critical care rental was significantly above normal levels, driven by COVID effects. Our core rental has developed very well in the quarter, which is a good sign, not only for the isolated quarter, but also for our expectations going into 2021, as a good part of this additional core revenues come from long-term contracts. As in previous quarters, the higher volumes has driven significant operational leverage in our U.S. rental business. A good cost control and execution of the restructuring program from 2019 are obviously also playing a positive role here. As in both Q2 and Q3, lower volumes in patient handling and hygiene held back organic net sales growth in the quarter, especially if we compare to a normal Q4, where we usually see very strong capital goods invoicing. For DVT, we saw a decline of approximately 10% versus pre-COVID levels due to postponements of elective surgery, this is also the exit run rate going into Q1. Canada, our fourth largest market, had a good quarter, especially in the second half, and managed to grow with almost 4% organically, despite heavy restrictions and difficult access to mainly long-term care. Service in North America saw a slight net sales decline in the quarter, but has continued the improvement journey. I strongly believe that this is an area where we will see good, profitable growth, especially in the U.S., when the market returns to a more normal state. All in all, a strong performance in region North America with significant potential for profitable growth for short and long term based on our market expansion plans, but also short term aided by discussed stimulus programs in the U.S. Next slide, please. Western Europe had an organic net sales growth of 0.5% in the quarter with an organic growth of 1% for the full year. Our continental Europe business continued to see strong growth in France and Spain with a good rebound from previous quarters in Germany. Spain continued to take market shares in medical beds, while France developed well in patient handling and in rental. Markets like Italy and Belgium saw declines in organic net sales, mainly due to lower capital sales and service business. Our U.K. sale was down with approximately 6% in the quarter versus Q4 of 2019. The decline covered both capital sales, rental, and service, was mainly due to the restricted access to healthcare facilities. In addition to Brexit, sales in the quarter was negatively affected by the global sea freight situation. For the full year, U.K. grew with more than 2% organically, and we expect sales in 2021 to be stable on this level. Our rental business in Europe has developed better than corresponding quarter last year. Profitability was held back somewhat in this area by the increased health and safety processes for our staff, including the use of personal protection equipment. We have more potential in the Western European rental business, both on net sales and profitability, and we will work actively with plans covering this over the next 18 months. The general market situation for Western Europe in the quarter has been the same as before, where accessibility is key to a good performance in major product categories and service. Our restructuring program in Europe continues to develop well. We have charged approximately SEK 12 million in additional restructuring cost in Q4 related to this program. That takes the total restructuring for this program to just short of SEK 60 million this year instead of the announced approximately SEK 75 million. As informed during Q3 report, the delta of SEK 15 million will be moved to 2021 as we want to have a clearer visibility on some areas of improvement before we go ahead. As discussed before, we have managed to fast track more savings in current year than expected, and the total savings is around SEK 35 million already in 2020. Additional savings to get to the announced SEK 50 million on a yearly basis will come in 2021, also with the move of restructuring activities indicated. The total of other items affecting comparability amounts to SEK -23 million in the quarter. On top of the 12 already accounted for, SEK 4 million relates to cost from the acquisition processes for AirPal and BBI. The additional SEK 7 million relates to a decided move of our central logistic hub from U.K. to Sweden. That is taking place as we speak. The move will lead to a more efficient currency management and structural synergies. For information, we will probably have some additional restructuring costs for this move also in 2021. Overall, a solid quarter in Western Europe, where we managed to navigate the heavy restrictions and limited access to healthcare facilities in a good way and build a solid order book for 2021. Next slide, please. Rest of the World grew organically with 5.4% in the quarter, with markets like Africa, Singapore, China, Japan, and a number of our distributor markets across the globe performing well. We have seen a continued high demand for medical beds, we again have been able to secure profitable business during the quarter. Our business in Japan continues to develop well, aligned with previously described plans. This quarter, the development in China deserves some highlights. After a very slow start to 2020, our Chinese pipeline has developed well, and we post a very strong finish to the year. Our expectations for China in 2021 is to have a significant year-over-year growth based on the investments made both in infrastructure and product registrations over the last 24 months. Australia managed, despite logistic issues based on the previously discussed global sea freight problems, to be on par with last year's Q4. A good achievement and more in the pipeline for 2021. Our business in India has also in this quarter seen significant decline in net sales as access to healthcare, especially for our rental business, has been limited. For the full year, Rest of the World has grown organically with 7.9%, a good achievement given the current challenging environment. As stated before, we have continued to build our Rest of World region also in this quarter. We are well positioned to continue our journey in this region when the pandemic has stabilized, both for markets with our own infrastructure like South Africa, Japan, and China, and within our strengthened distributor network setup. Next slide, please. Moving over to some financial details. Next slide, please. We achieve a gross margin of 45.3% in the quarter, up from 44.6% in Q4 2019. One of the big reasons for this improvement is the continued high volumes in our U.S. rental business in both core and critical care that generates high operational leverage. This, together with the successful deployment of the restructuring program last year, which has lowered our fixed cost base with more than SEK 30 million on a yearly basis, has led to a very good gross margin and gross profit development in U.S. [audio distortion]. As in previous quarter, medical bed capital sales gross margin continued to develop favorably versus last year. The increased overall capital sales of medical beds in the quarter is giving a slight negative product mix, but the category in isolation sees an uptick in gross margins for the full year. Like in Q2 and Q3, categories like patient handling, hygiene, and DVT, where we normally see above average gross margins, have all been affected by lower volumes due to the COVID situation, and this development contributes to a negative effect on gross profit and margin for the quarter. As for Q3, it should be noted that we have not lost gross margin in the isolated category patient handling, despite the lower volumes. This is thanks to good price management in our sales entities and flexibility in supply chain. Our supply chain continues to work in an efficient way also during the last quarter, with good plans in place for continued improvement. Based on the global sea freight situation, our transportation and logistic cost has gone up in the fourth quarter, affecting gross margins negatively. However, at the same time, we continue to have good traction on the implementation of our new logistics setup. We drive a number of initiatives as support of our internal efficiency agenda that will continue to generate continuous improvement in the quarters and years to come on costs for transportation and logistics. Despite the decline in our service business this quarter, the team has managed to keep gross margins on last year's level, which considering the circumstances, is a good sign for the future. There is still considerable restrictions around access for our technicians, which also drives additional cost for safety procedures and personal protection equipment. All very necessary to protect the well-being of our employees and customers, but obviously putting a strain to margin development in this area. As I stated before, I believe service is an area of positive development when we have a more normal access to customers. In summary, we continue to see a good performance and cost control throughout the value chain that will improve our gross margin levels also in 2021 and the years to come. Next slide, please. Adjusted EBIT in the quarter grew with more than 8% versus Q4 2019. A very good outcome given the increased restrictions and lower capital sales compared to a normally capital-intensive fourth quarter. In addition to described development on gross profit, we have continued to manage our OpEx line well in the quarter. OpEx as a percentage of net sales continues down also in this quarter, and is on absolute levels almost flat to last year in comparable currency. We have rather large negative currency effects in the quarter. Translation effects is negative with SEK -29 million, and transaction effects related to reevaluation of accounts receivables and payables is negative with SEK -11 million, adding the total negative currency effects on EBIT in the quarter to SEK -40 million. In comparable currencies, our EBIT is therefore growing with more than 23% in comparable currency. In my view, a very good development of our underlying profitability, and this gives us good confidence that we're on the right track for continued improvements also in 2021. In the quarter, we have continued to support our customers and their patients, and at the same time secured good profitability growth for the company. The good cost control throughout the value chain is one of the positive things that we will bring with us from the past 12 months into 2021. With that, over to Daniel, and next slide please. Thank you very much, Joacim. Some comments with respect to our working capital development and cash flow. We're continuing to see particularly good results from our persistent focus on working capital management throughout the organization also in the fourth quarter. The COVID related challenges for our supply chain remain from the third quarter, we were able to reduce the inventory level in the period in parallel with another very strong performance in receivables collections and payables management. We're especially pleased with the progress made in this area, I would like to underline that our working capital days level has continued to improve from 96 in the third quarter to 82 at the end of Q4, and by a full 24 days since year end 2019. We believe that there is still some additional potential going forward in terms of optimizing inventory and receivables management. The net positive impact from working capital in the quarter, along with the EBIT improvement, also means that we have followed up the record-breaking operating cash flow from the second quarter with another record posting SEK 843 million in the quarter and SEK 2.3 billion f or the full year. This performance gives an improvement compared to 2019 of over SEK 1 billion, as Joacim mentioned earlier. Subsequently, cash conversion again significantly exceeded our target and came in at 166% for the quarter and 123% year to date. Cash flow from investing activities was a SEK - 454 million, explained by the purchase of an equity stake of 10% in Bruin Biometrics, the asset deal for AirPal, along with investment in fixed assets and our rental fleet. Next slide, please. As a consequence of the positive profit development and cash flow performance, our net debt declined to SEK 5.1 billion, which is an improvement of SEK 1.5 billion versus quarter three. Meanwhile, our cash position remains strong and our net debt to adjusted EBITDA has decreased from 3.4 to 2.9 like for like since the end of last year. The equity ratio came in at 40.6%, which is a slight decrease since year end 2019. I give the word back to Joacim. Next slide, please. Thank you very much, Daniel. Let's move over to some of the business highlights. Next slide, please. Starting off with AirPal. As announced earlier in Q4, we have signed and closed the acquisition of the U.S.-based company, AirPal. The company is specializing in air-assisted lateral patient transfers. The company has a U.S.-based focus with sales of around $3.5 million in U.S. during 2020 in the described area, where the total market size in U.S. is around $160 million and growing with 5% per year. This target is very well aligned with our strategy around mobility outcomes and where we gain positive sales synergies more or less from day one. AirPal product portfolio is filling a current gap in our patient handling portfolio, where we already address the goal point in an active way. This portfolio is also very well aligned with our overall gross margin expectations within patient handling, which is above average from an Arjo perspective. We have indicated that we probably will have limited impact on EPS in 2021, and that we are expecting market shares over the next 2-3 years to grow from today's 5%, AirPal and Arjo combined, to at least 12%-13%. We also believe that over time, with necessary R&D investments in the portfolio, is reasonable that we can achieve the same market share in this category as we have in patient handling in U.S. in general, indicating that a lift to 20%-25% market share should be within reach. In addition to this, we will be launching the portfolio into markets outside of U.S. starting in the end of 2021, with good potential also here. If I were to assess status since closing, I would say that the integration work and customer transfer has gone better than expected in U.S., and I hope to be able to give you more good news on this in latter parts of this year. Next slide, please. As announced already in the Q3 report, we acquired an equity stake in Bruin Biometrics, in short, BBI, in the quarter, which in our view is going to be a real game changer for our company and a significant step on the transformation journey that we're on towards creating a company offering outcome-oriented, value-added solutions to healthcare globally. As described, the equity stake secures the global exclusive distribution rights for BBI's SEM technology, which will help caregivers to assess risk of pressure injuries days before they're visible to the human eye. This will enable healthcare providers to prevent pressure injuries from occurring through the timely correct usage of our systems of pressure injury prevention, where we, you know, currently are spending significant effort to update our portfolio with launches starting in the end of this year. Pressure injuries is a big burden to global healthcare, with around SEK 500 billion in yearly cost. With our outcome-based solutions, we will be able to help healthcare reach significant economic savings while benefiting millions of patients affected. The launch of the SEM Scanner is planned and executed in a very detailed way and is taking place as we speak. U.S. and U.K. are among the countries in the first wave, as expected, the U.S. customers seems to be picking up this new technology and approach in a very good way. In our previous announcements, we have stated that this acquisition is expected to generate positive impact on our net sales and earnings per share starting in the second half of 2021, and that it will contribute significantly to both net sales and EPS development from 2023 and onwards. It is our intention to provide sales updates and some details on market adaptation rates in general, starting in the Q2 report of 2021. What we can say for now, although early, is that our first forecast indicates that we will be approximately 15%-20% ahead of our business plan in terms of units for 2021, with good carry-over momentum into following years given the business model. Next slide, please. On WoundExpress, development is according to the plans presented during the Capital Markets Day. The RCT is running according to the communicated plan despite COVID, and should be ready for publication in the end of 2021 or latest Q1 2022. Sales in U.K. and the Nordics is starting to get out of the starting blocks after COVID restrictions. Our FDA approval process is underway, and we expect, as before, FDA clearance by end of Q2 this year. Our go-to-market plans in Europe and U.S. develops well, and will be ready for implementation according to the plan in Q3 and Q4 of this year. Overall, we follow announced plans with continued very high interest from current users, patients, and key opinion leaders. Next slide, please. The way we see it today, based on current information and our own assessments, 2021 will be another year of solid, profitable growth for Arjo, where we start to benefit from the work done during the last three years in product development, outcome programs, and inorganic activities. It is our assumption that we will have to continue to navigate the COVID situation during the first half year. We strongly believe that we will be able to do so in a good way and continue to demonstrate healthy growth also in the quarters where we have more stretched comps from 2020. We believe that we will start to see a return to more normal market conditions in the beginning of H2, where we will then see a more capital sales intense end to the year compared to the last few months of 2020. To give you some background on how we see net sales development in 2021 compared to a somewhat exceptional 2020 and a more normal 2019, we have tried to visualize how one should think around the larger categories. For patient handling, 2020 has seen a net sales decline of short of 10%, where we in 2021 forecast to reclaim that drop and more. This will leave CAGR versus 2019 almost in line with market growth of 3%-5% yearly. medical beds will, from a very strong 2020, see a return to 2019 levels in value, probably driven by more sales of high-end ICU beds. DVT that has dropped almost 10% for the full year of 2020 versus 2019, we expect growth in 2021 to get us slightly above 2019 levels. This could be an area of upside if healthcare in U.S. and U.K. drive to claw back some of the postponed elective surgery that we have seen during 2020. For rental, where we in U.S. have had a significant peak in net sales driven by both critical care and core development, levels will go down versus 2020, but we'll see a good increase versus 2019 with good double-digit numbers. Profitability will also develop very favorably against 2019, aligned with our implemented plans on cost structure and operational leverage. Service has seen different patterns in different countries during 2020, but overall, the category has declined in net sales with low single-digit numbers. In 2021, we expect steady growth versus both 2019 and 2020, with the year at absolute levels slightly above 2019. We will execute on our plans on internal efficiencies across the organization to ensure that we aim for a continued slight improvement of gross margins for the full year of 2021, also compared to the better than expected outcome and performance on this line in 2020. On OpEx, 2020 obviously saw a fairly steep reduction in the relation percentage net sales. We will have a higher OpEx in absolute numbers in 2021, we believe that a number of the achieved savings will stick, and that the ratio of OpEx and net sales at least will be on the same level for the full year. Next slide, please. Based on this for 2021, we estimate that we will be able to achieve an organic net sales growth for the full year in line with our new financial target of 3%-5%. We will continue our current approach navigating the changing environment and the COVID situation. Underlying short-term levers, like the discussed stimulus packages in the U.S., continued core rental development in U.S., a step-by-step improved access for service in Europe, and obviously our good capital equipment backlog globally gives us good confidence that we will improve net sales and profitability in line with our new financial targets also for 2021. Of course, our strong balance sheet and a very good operational cash flow together with the stable organizational base that we have created over the last three years further increases our ability and interest to drive a very focused M&A agenda going forward. Next slide, please. Next slide. Taking us into a short summary. We finish off the year in a very solid way, where we continue to improve net sales and profitability while supporting healthcare in this unprecedented time. We post the best quarter ever for Arjo, with organic net sales growth of 4.1% and saw profitability established on a significantly higher level. Based on our very active work around our working capital, we post a record high cash flow and cash conversion, and we have lowered our leverage to 2.9. For the full year, we increased organic net sales with 3.9%. We improve our gross margins with 160 basis points and EBIT with more than 30%. All in all, an excellent finish to our Arjo 2020 plan and journey and a solid start to our future developments. We enter into 2021 with strengthened positions in all areas and feel comfortable around our possibilities to perform another very good year for Arjo. With that, I would like to open up for questions. Moderator, please go ahead. Thank you. Our first question comes from the line of Annette Lykke from Handelsbanken. Please go ahead. Thank you so much. I have a few, but I will restrict to two now and then return to the queue. First of all, can you say a little bit more about the turnaround you saw in Germany and the good end to the fourth quarter? How much of that will materialize into this year? Can you also say, is it only related to medical beds and rental, or were there other parts of your business that also were doing better? I think it's a slightly tricky situation to make forecasts on your gross margin for 2021. We have a lot of positive moving parts here in 2020. Should we expect margin to go down, or should we see some of the cost savings programs you made to carry through? Towards the end of the year when patient handling and hygiene, for example, is doing better, then we'll see adhesion and could expect some sort of improvement over 2020 on the gross margin. Thank you. Thanks, Annette, thanks for the questions. If I start with Germany, it is a good performance in Germany, not related to medical beds in Germany. It is more in other areas. Rental has performed well, and we also actually saw some good sales of capital equipment in Germany during the quarter, which was actually better than what we saw in Q4 of 2019, which given the current situation, is a good sign. It's a good performance in Germany on net sales in the quarter. When it comes to the gross margin, let me start by saying that when we look at gross margins for the full year, we are 20- 30 basis points better than what we expected when we entered into 2020. It's not that COVID has, for the full group, generated that much more in terms of gross margins. Therefore, we believe it is realistic to believe that we will continue to see slight improvements of our overall gross margins also in 2021. Can I just follow up on Germany, Joacim? Do you see Germany to be, or do you expect that positive development to continue into 2021? Yeah. In Germany, we have changed management, we have also both on president level and also in the management team, we have set a different structure to get a little bit better speed into our German organization. That is, in my view, what we are starting to see the first steps of in this quarter. I obviously hope that we will continue to see that step by step in 2021 and onwards. You would say that the changes in Germany is more initiated by some initial moves from either side rather than that the market in general were changing? As quite a few of the markets in Europe, we have lived under heavy restrictions during Q4. I must say that the German organization as well, if you take, for example, the French organization, has navigated very well and posted nice growth also in France as an example during this quarter. My view is that the change that we have now seen in net sales is generated by our internal changes, and we hope then when the market is returning to more normal, that we can start really seeing some good external benefits out of that. Okay. Thank you. The next question comes from the line of Kristofer Liljeberg from Carnegie. Please go ahead. Thank you. Good morning. Three questions from me. The first one, with all the new products you have acquired or where you have signed external deals, is it possible to say how much you expect these together will contribute to sales in 2021, and if it would have any meaningful impact on the sales growth? On the capital equipment business, the comment you made about improved orders late in the quarter, I would be very interested to hear where you have seen that and what product categories, et cetera. The final question on this AirPal acquisition, obviously have a very small market share in the U.S. today, and maybe due to their small organization also, but how good would you say that their product is versus competition? I heard you said comments about investing in R&D to drive 20% market share maybe, but to see any meaningful sales in the U.S., would you have to invest in the product before that's going to happen? Thank you. Thank you, Kristofer. On the new product, it's a little bit difficult. We have announced, for AirPal, that AirPal is turning around $3.5 million in the U.S., that is where I believe that AirPal will land for the full year of 2021. It's going to be a year where we're consolidating, as I said, for AirPal, the transfer of both existing customers and also the insourcing project that we are running with AirPal is running better than planned. We are, with good confidence, looking at least that same number. For BBI, as I said, our internal forecasts are better than expected for 2021. It's still early days, let me come back with more numbers on BBI when we come into the Q2 report of this year, as I indicated. Again, a better than expected start to BBI. Sorry, do you see that product, the BBI, having potential to maybe add a percentage point or so to sales already in 2021? Probably not a full percentage point, Kristofer. I think we are lower than that in 2020, but again, very much depending on the initial adaptation of customers, especially in the U.S. and in U.K. I would be a little bit, not that I'm hesitating on the potential, but before I give you a number, let me be very sure on what I speak about. We have indicated that we'll have effects on our net sales in the back end of the year, and that is what we still believe. The long term or midterm potential for this product, again, as I stated, is on game-changing levels, and nothing in the first launches or discussions with markets have changed that approach. When it comes to order intake, very good to see actually that a large part of that additional order intake came in patient handling. Patient handling actually versus Q4 2019, saw positive order intake in the quarter, which given the circumstances is really good to see. A lot of that uptick in order intake has come from Patient handling and obviously putting our order book for invoicing into 2021 on a very much higher level than what we had before. We are speaking about around 20% higher backlogging capital entering into 2021 than what we had entering into 2020 in comparable currencies. Good performance there. Sorry, this patient handling, geographically, is it everywhere or is it a certain region, country where you see this? It's actually mainly in Europe. Given the restrictions, I'm quite impressed how the organization has navigated to make sure that we have secured these orders not only for floor lifts, but also for ceiling lifts during this situation. That's obviously something that is one of the short-term levers that will assist us in continuing to grow the company also in quarters now where we have slightly higher comps in the beginning of the year. Do you expect to ship this order in the first half of the year? It's a little bit depending obviously on access to facilities. I don't have, for obvious reasons, all the installation dates on these products, but for me, this is something which should be shipping, given that we normally have six to nine months on, for example, ceiling lifts and much, much shorter when it comes to floor lifts in patient handling. My view is that it is shipments that will take place in Q1, Q2, and probably also into Q3. Again, one of the short-term levers that will help us to make sure that we continue to navigate the current situation in a good way when we start seeing a shift in dynamics of the markets. Lost follow up on that. When you said orders were growing, could you say orders for patient handling in the second and third quarter, how much was it down then year-over-year? Well, it is more or less on the same levels as we saw when it comes to net sales, given the fairly short intervals. It's around 10% down also in quarters. Obviously, some isolated months like April had a bigger decline than that because of the panic that was spreading then. All in all, for the full year, or rather for Q2 and Q3, a minus of around 10%. Therefore, very good to see that order intake for patient handling in the fourth quarter was higher than Q4 of 2019. Thanks. On AirPal, as I said, we're currently hovering around 5% AirPal and Arjo combined. We believe that with normal R&D efforts, which then includes the described insourcing of production, and that we do a continuation of the AirPal R&D pipeline, will give us potential to get to these 12%-13% market share for AirPal. When we're speaking about lifting it above that, there are some minor gaps into the AirPal portfolio that we are having a very good plan around. It will take us a little bit of time to get those products out. When we have them, and I would estimate that to be maybe in 12-18 months, we can accelerate even further beyond those 12%-13% market share targets that we have. As I said, over time, it should be achievable for us to get the AirPal product line to the same type of market share levels that we have for patient handling in the U.S., which is around 20%-25%. Thank you very much. The next question comes from the line of Sten Gustafsson from Nordea. Please go ahead. Yes, good morning. Thanks for taking my questions, or perhaps maybe more clarifications. I noticed that you're not explicitly guiding for OpEx development in the report, but you gave some comments with regards to OpEx to sales development. First of all, why are you not providing a clear guidance on OpEx? Could you remind me what you said with regards to the OpEx development? Secondly, also with regards to the rental business, just a clarification what you said with regards to the growth compared to 2019. That would be very helpful. If that's in SEK or if it's organic growth. Thank you. Yep. Thank you, Sten. On OpEx, I believe that I did comment quite detailed. We've seen a very steep reduction of OpEx in relation to net sales in 2020. Probably that is the area where we have done the most progress if we compare to where we expected the year to end when we entered into 2020. That reduction, driven by a number of short-term actions, but also some long-term effects, for example, from the Continental Europe restructuring program, has brought this percentage down quite significantly. That is why we are saying that we will at least be on the same percentage ending 2021. I'm not saying that we can't continue to further decrease, but given the sharp decline of OpEx as a percentage to net sales that we saw in 2020, we rather stay on the little bit more, I would say on the realistic side here. We have some very good plans in place to continue to address efficiencies throughout the organization. As I stated in my final thought of the summary, a very good thing that has come for us during the last 12 months is a very cost cautious approach. We know where we have efficiencies to gain. We have no intention of letting costs slipping back into the P&L unless it's absolutely necessary. We have decided to say that we will be at least on the same percentage level in 2021, and obviously we'll continue to work on the plans that we have to continue to go down there. When it comes to rental development, we will be on a good development run from 2019. We are speaking about the currencies that we had in the end of the year. It's obviously difficult for me to try to evaluate where currencies will move. If we look at the currencies that we had in the back end of this year or in 2020, we do believe that the uptick of rental will be versus 2019, well, anything between 12%-14% as it sits right now. It is versus 2019, a very good uptick. When we look at profitability in percentage, it is a quite significant increase versus 2019. That is very much driven by the projects that we put in place, the efficiency gains that we have achieved, and obviously also the operating leverage that we achieve by that. Excellent. Thank you. Just a follow-up on that. Is that on the existing fleet, or do you expect to continue to invest in the size of the fleet? We have, if I'm not fully mistaken, around SEK 350 million worth of investment into the rental fleets in 2020. We have done some good improvements on our rental fleet. We believe that the need to continue to invest to rejuvenate parts of our fleet, where we still see some older fleet. We have done a very good job over the last three years to rejuvenate the rental fleet. There is a little bit of work left, plus the additional volumes. I still believe that our investment into the rental fleet in 2021 will be slightly lower than the one that we saw in 2020. Excellent. Thank s very much. The next question comes from the line of Victor Forssell from ABG. Please go ahead. Thank you very much. Two questions, if I may. I'm touching upon the patient handling business. In terms of your margin expectations for patient handling, both in 2021 and forward, could you discuss a little bit around the dynamics here, if you've seen any sort of improvements in this product category? Similar to, for example, what we saw in medical beds, improved margins throughout 2020 and also what you expect in 2021. Then just lastly, on the order book side as well, how much of the initial order book that you have usually in January translates into the full year sales, and what is incremental in terms of new bookings throughout the year? That would be helpful. Thank you. Yeah. On patient handling and the margins, we have also with the lower volumes in 2020, managed to get a slight improvement of our patient handling gross margins also in 2020, which is, as I indicated during my presentation, thanks to very good price management in the sales and service side and also good flexibility in the supply chain. We have a good intention of continuing to develop the gross margin levels for patient handling also in 2021, to see a slight increase of gross margins also in 2021. The interesting play for gross margins for patient handling is really when we start speaking about the Outcome Programs, when we start speaking about being able to prevent things from happening, as I've been discussing with quite a few of you over the last couple of months and quarters, where we, instead of then looking at a product to product, we will start speaking a lot more about return on investments, where we can actively post how much savings you will get by investing a certain amount of money into product, into training, and into support from our side. Over time, I think that patient handling has the potential also above the expectations that we have for 2021 when we look into the years to come because of that move, which is good. When it comes to the backlog, I don't have an exact number because it's a little bit floating year from year. Given the fact that we now have a backlog for defined invoicing in 2021, that is around 20% better than the same period last year in comparable currencies, is obviously a good sign and a good start to 2021. Thank you very much. We have a follow-up question from the line of Annette Lykke from Handelsbanken. Please go ahead. Yes, it's just on China and how meaningful this contribution will be that you saw this increase into 2020, high expectations for 2021. How large is China right now? I guess it's through mainly medical beds and the like that is interesting in that market. That is, China is in 2020 as in 2019 because we're actually overall, even though we had a very good end to the year, we're more or less on the same levels between 2019 and 2020. China is around SEK 30 million worth of turnover for us. Remember that also in 2020, very low number of approved products. Those registrations has come through now only in the latter part of the year. We do expect that we're going to lift from SEK 25 million-SEK 30 million and almost get that up to a SEK 50 million level, at least in China in 2021. That, for me, is a good sign that we have created a very good development, sorry, base in China around the product registrations for products coming outside of China. It's not only medical beds. It's medical beds, it's pressure injury prevention, and we are also starting to launch our patient handling range into China. Again, very much dependent on the product registrations that has come through in a good way in the latter part of 2020, and that we will continue to see good signs and good development of in 2021 and onwards. I've been a little bit, so to say, reluctant to speak about China before because we haven't seen the traction that we wanted to have in China. Now we're starting to see the first good signs, and I think that 2021 from a percentage perspective will be a good increase, and then we can start speaking about some good absolute numbers in 2022 and onwards. Okay. Should we expect this top line to carry a little lower margin compared to Rest of the World, so Europe and U.S., or how should I see that? No, I know that China is, when it comes to our Rest of the World market, not in any way different to the average level. I wouldn't see a decline on gross margin. Obviously, our expectations for China is well included in our previous discussions around gross margins. No real danger there. Okay. Thank you so much. As there are no further questions, I'll hand it back to the speakers for closing remarks. Yep. Thank you very much for listening in, and we are, as said, very happy to be able to conclude on a Q4 that has presented a record high profitability for Arjo, a good organic growth of 4.1%, and where we have continued to support healthcare across the globe during these unprecedented times. Thank you very much, and hope to see and speak to you all soon.