Okay, let's start. Good morning, everyone, and welcome to the presentation of the interim report for second quarter of this year for Awardit. My name is Erik Grohman, and I am the CEO of Awardit. The presentation today will be recorded, so you will find it published on our website after the call. Any questions you have throughout the presentation, please put them in the chat, and I will pick them up after the presentation in order. The call will last from 10 until 11 sharp. I will try to answer as many questions as possible in the chat. If there are any additional questions after that, obviously, you're welcome to contact me on a one-on-one basis by phone or email straight after the meeting as well. I joined the business in 2022, in March, so I have been with the business for one year and a half pretty much. The business is the market leader in loyalty and gift card solutions in the Nordics, and we have a strong position in DACH. We provide our clients with a one-stop shop solution for all their needs within loyalty solutions and gift cards. The business was founded in 1999. Today, we have 251 employees, and we have made 11 acquisitions, building the position that we have today since we went public in December 2017. Our main offices today are in Stockholm, where we have the headquarters in Gothenburg, Copenhagen, Hamburg and Wels in Austria. Our vision for this business is to become the leader in our industry on the European market, and we are passionate about helping our customers to improve customer satisfaction, retention, and sales. To achieve that, we have a source-based toolbox that covers all aspects of the client's need within loyalty solutions and gift cards. We have more than 250 programs running in the Nordics, reaching more than 15 million consumers. We also have a wide reach and expanding reach in the DACH region. We have historically seen strong organic growth, high scalability in our business model, and also coupled that with successful acquisitions. We divide the business into two business area, areas: loyalty and gift cards. Our timeline from going public in December 2017, up until today, consists of 11 acquisitions, as I mentioned, building a strong position in the Nordics through acquisitions within both loyalty solutions and gift cards. Lately, also, our latest two acquisitions were made in DACH, with the first one being Pramie Direkt, and the latest one being Connex as a strong complement to Pra```mie Direkt, being made in the February this year. If you look at our history in brief, we had exclusively organic growth until 2017, when we went public, and from then on, we have coupled organic growth with M&A and acquisitions. We had a setback during the pandemic. Otherwise, we have seen growth year-over-year over the years. In 2021, we were back again to high growth numbers and also completed three acquisitions in 2021. In 2022, we saw high growth in the business. We had 21% organic growth and a total growth level of 63%. In 2022, our revenues were SEK 862 million. Also, we have seen growing profitability over time, although being diluted somewhat by the different kind of businesses that we have acquired over the years. We have been able to historically find synergies of scale and also find business synergies between the businesses that we have acquired and the core of Awardit. In 2022, we had an EBITDA margin that was diluted somewhat by somewhat slower gross margins in this, the fourth quarter and by the acquisitions made in 2021, adding to the organic business in 2022. If you look at 2022, it was our best year ever. We had a strong growth in revenues, coming up to a level of 862 million SEK and an EBITDA of 111 million SEK. We had very good success in our core business, and I will come back to that, but also combining that with acquisitions made in 2021 being the primary additional growth drivers. On the right-hand side here, we have excluded in the yellow part, the acquisitions made in 2021 and 2023. The yellow part shows the growth of the Awardit core business, excluding Inspiration Company, MBXP, Pramie Direkt, and Connex. Here we have been managing to grow organically throughout the years, we had a 24% growth in this part of the business in 2021, 36% growth in 2022. We have seen strong growth in that area of the business, then couple that with additional acquisitions. In the growth of the core of the business, that comes from existing clients that have been with us for a long time, that keep on growing year-over-year. In the organic growth, obviously, there is a, an element of new customers coming in, and we saw some big success last year in joining a new big customer, on the platform. We have seen over the years, different kind of extraordinary events, driving additional revenues. One example last year, obviously, was extraordinarily high sales through SAS EuroBonus, in Q2 and Q3. These kind of extraordinary sales, they come and go over the quarters, obviously, and but they are one contribution also to the growth we have seen in the past and that we continue to see. Also looking at the acquisition and what Connex contributes to the mix, Connex were estimated to come to bring revenues for last year of around EUR 15.6 million, and that's what we also based the purchase price on. They came in higher with actuals of around EUR 17.8 million and also higher on an earnings level, delivering an EBIT of EUR 1.7 million. The net revenue, including Connex last year, so pro forma for the group of Awardit, was SEK 1,051 million, and we had an EBITDA of SEK 130 million. Looking at the mix, and what Connex contributes to the group, they come in with a higher gross margin% as they have a high gross margin in their, in their, gift cards business. They also bring up staff costs, as it's a rather personnel-heavy operation due to being able to compile and deliver strong content in these products and being able to put them in the market through, a sales force. Connex brought into the group cash and cash-like items of SEK 137 million, so strengthening the, the cash position of the group. Also, it could be mentioned that in Connex, there is a mix of revenues and profits coming from Loyalty and Gift Card, and that is also now in Q2 as we, as we bring the Connex results into the group, skewing somewhat the margins between Loyalty and Gift Card as presented in the report. Because we have allocated part of the businesses within Connex to the Gift Card segment and other parts to the Loyalty segments. In this, the Loyalty segment of the Connex business brings a negative profitability to Q2, but I will come back to that later on. Looking at Q2 now, both Loyalty and Gift Card, as, as business area, show continued strength. In Loyalty, we had a growth of 14% in revenues. Organic growth of the existing business, excluding Connex, is around 3%, so lower than what we have seen in comparable quarters in the past. What we do see is a strong development of the existing customer that continue to grow. The largest accounts we have in the B2B segment and also in the B2C segment, they, even though some of our clients face challenging market situations, we continue to grow our business with them. Most of our top clients show double-digit growth in the quarter. We have a strong, strong underlying business in the loyalty segment. We have some additional, as I me``ntioned, sales last year, that deteriorates the comps in the growth figures, obviously. Also, as I mentioned before, historical growth has been coming from both existing customers and new ones. In the second quarter of this year, we have not added any larger new clients to the mix, but rather, we have been focusing for the past half-year and year on consolidating the Awardit platform and bringing customers from TIC onto the Awardit TIC platform to bring synergies of scaling operations for these customers. Also, compared to last year's growth, we had a large customer in terms of SGDS joining last year, contributing to that growth, and they are now in the comparable figures from last year. Underlying, our largest clients continue to perform well and especially in spite of sometimes challenging market situations. For loyalty, also, Connex adds SEK 16.5 million to the revenues in Q2, and they are included in these numbers here. If you look at the gift card revenues, we are up 93% compared to last year. Most of that comes from the addition of Connex to the group. The organic growth is around 5% from the business of primarily Retain24 and MBXP. In this business, we see a slower growth at MBXP for the quarter and somewhat more stable growth and also growth in line with last year for the Retain24 processing business. In there, we see organic growth from new customers on our SaaS platform, and we continue to scale that model, where any additional customer brings additional profitability to that business. A main contributor to the decline in results in the quarter is from the decline of MBXP experience gift cards. There we see a decline in the quarter, compared to last year, of 17%. I will come back to why that is in a more detailed way later on. This is a large contributor to the decline and to the low results in earnings for the quarter. In the revenues for gift cards, Connex adds around SEK 30.7 million to revenues in the second quarter. Again, a large share of the, of the growth for the gift card segment come from Connex. Again, just looking at the core business of Awardit, excluding them, Inspiration Company, MBXP, pramie Direkt, and Connex. There, we see a 7.5% growth in the second quarter of this year. This, again, it comes from the growth of the larger clients within Awardit Loyalty, and it comes from Retain24 growth on the processing side of the gift card business. This is lower than, than the total organic growth. That is because Inspiration Company, MBXP, and PremieDirekt all are lower in growth compared to the original core business. In this chart, you also see Connex adding additional SEK 47.2 million to Awardit new business, which is then non-core for the second quarter. And as I mentioned, the excluding Connex, the rest of the acquired businesses from 2021 and 2022 are in line in terms of revenues with last year, on a total level, somewhat lower. Looking at the revenues and the EBITDA for the quarter, revenues were up 28%. As I mentioned, it's at SEK 247.9 million, of which Connex contributed SEK 47.2 million. Also in this growth, we see a strong development of Zupergift sales, where we sell around SEK 10 million more in Zupergift compared to last year's second quarter. And this is coming primarily from additional sales in channels where we see a possibility to drive additional volumes and additional visits to our shops without cannibalizing on other sales. However, a lot of the uplift in the quarter from the Zupergift sales come with lower margins and deteriorates the margins also of the loyalty business, somewhat on a total level, as they are reported in loyalty sales. We are tweaking these sales channels to ensure we have a, you know, additional profitability in the future coming from these channels. That we are not selling, of course, Zupergift in channels where we don't add additional benefits and profitability to the channel. For the quarter, it affects the comparison of gross margins in the loyalty business. On the EBITDA side, the EBITDA of the second quarter was SEK 14.0 million, compared to SEK 27.8 million last year's second quarter. Obviously, we are not happy with this development. The main reason for the decline is a negative result of MBXP, and the business delivers SEK 10.3 million of lower EBITDA compared to last year's second quarter. In the numbers for second quarter, Connex contributes around SEK 1 million for the second quarter in EBITDA. We see that Connex has a strong development, which is just above the expectations for the year. We see that Connex should be able to contribute in line with or higher than expectations for the full year, even though contributions in the second quarter is rather low. From Zupergift, we had a breakage of SEK 800,000, compared to SEK 2.5 million last year. This comes from the difference in sales volumes, where we sold around a third of volumes last year's Q2, compared to the year before in Q2. As you know, breakage is coming in after one year, and is based on non-redeemed cards from the sales of cards from a year before. Lower breakage, basically coming from lower volumes sold in 2022. If we look at a bridge over the EBITDA, I mentioned that Connex stands for around SEK 10.3 million of decline compared to last year. Here we have on a group level, a breakdown of and comparison of EBITDA for Q2 last year, which was SEK 27.8 million, and to EBITDA this year, which is SEK 14.0 million. In this, we have compared to last year's second quarter, we had a higher, somewhat higher revenue, but also higher than COGS, cost of goods sold on these revenues. They are evening out here. The main difference in the result come from a lower gross margin and a higher OpEx for the quarter. In the gross margin or in the gross profits, we see that from the SEK 8.4 decline, SEK 5.8 come from MBXP. In Premier, we had high, somewhat higher gross margins compared to last year. In the Swedish entities, we had a lower gross margin, and this comes primarily from the dilution of margins from higher sales of Zupergift products in the Swedish business compared to last year. Again, these are sales that don't, do not cannibalize on other sales, but in the mix, they bring down comparable gross margins. On the OpEx side, we have MBXP on SEK 3 million, lower OpEx, and this is also attributed to cost of sales, because this increase in OpEx come primarily from a higher contribution and higher costs to resellers of our products. Also, the Swedish entities and including central operations bring SEK 1.6 million in deficit compared to last year, due to somewhat higher staff costs in the Swedish business and central business, and also consultancy fees that we have had this year. This is on a group level. If we look at a bridge for MBXP in particular, we see that they bring SEK 10.3 million lower EBITDA this year. I already pointed out that SEK 5.8 comes from gross profit and SEK 3.0 comes from an increase in OpEx. If you look at it, if you look at the driving factors behind this decline, first of all, Experience products are lower in sales compared to last year. In Experience products, we have one large customer, which is Coop in Denmark, that stands for a majority of the sales. Customer, the customer, Coop, has had big, large problems in the market in primarily Denmark and has gone through restructuring programs. They have delivered the worst year ever last year in terms of results, restructured their organization, and changed their banner portfolio of their retail outlets. In that process, they have, they have restarted their business pretty much. They have temporarily shut down stores to rebrand them and are gradually opening up again. But we see that we are around 20% lower in sales this year in Coop compared to last year, because Coop has a lower footfall in their stores. They have lower sales of all product categories, and we are included in that. So, so, we have been relying a lot, of course, on Coop in the past. Coop is still a very important client to us, but in this quarter, we have seen a decline, which is affecting the revenues heavily. In the experience products, we book the revenues with high profitabilities when products are sold, and then at time of redemption, later on, we book the full costs of redemptions. This is the model that has been used for many years, for 7-8 years in MBXP, and that we have continued to use throughout the earn-out period of MBXP. The reason for this is that we have agreed, as part of the earn-out mechanism, that the accounting principles of MBXP should not be changed during this period, until the earn-out has been settled. This accounting model for experience cards make the lower sales in the second quarter, having high impact on both revenues and earnings in the quarter. At the same time, redemption of products in this category are at an all-time high. This is because we see that we had a higher proportion of sales of experience products in last quarter of last year through the B2B channel, so outside of Coop. In that sales, we now see a different redemption pattern that is higher compared to products sold through retail. This has been affecting us in both first quarter and second quarter of this year. Again, lower levels of revenues in the quarter, and these revenues come with a high margin, coupled with higher costs compared to sales from previous quarters, make the results much worse for the second quarter. We see a higher cost of sales in terms of retail commissions and contributions in the second quarter of this year compared to last year's second quarter. This is also due to market challenges in general and market challenges for Coop Denmark in particular, where we need to pay, in some aspects, higher contributions to stay in the channel, to continue to drive sales and to continue to run marketing activities together with our clients. These factor combined make a very negative effect for the quarter in MBXP. Obviously, we are working hard to mitigate these effects. We are seeing that redemption rates should normalize now starting in Q3. We see the first signs of that because also normally, the majority of redemptions from products sold in the fourth quarter are made in the first half of the following year, and this has also been the case now, even though the redemptions have been higher with this B2B sales. We also see that Coop is gradually coming back in the market. We are seeing improved sales through Coop as a channel in the beginning of the third quarter, we're working actively to come back to appropriate sales levels through the chain. We are also deep diving into the cost of sales and looking at how we can improve that on a channel, a customer, and a product level, we see some first effects of that already in Q3 as well. Also, to clarify, around the earn-out for MBXP, that has not been paid out yet, we expect the earn-out to be paid out earliest in Q4 this year. This is because the process and the calculation principles for the earn-out are outlined in the purchase agreement and are strictly followed, obviously. Our expectation on the earn-out is that it will not be higher than SEK 133 million or DKK 84 million, this corresponds to the reserved amount that we have on the Awardit balance sheet currently. Again, we are working around the clock to mitigate the result in MBXP, and we see signs that it will gradually come back here and be strengthened in Q3. Q4 is the by far strongest quarter of MBXP, that we believe we should be able to deliver in style also this year. Looking at the gross margins on a total level, the gross margins of the second quarter was 33.2%, compared to last year's 32.9% in the second quarter. Here, as I have mentioned before, Connex contributes with a higher margin. MBXP obviously delivers a lower margin due to the increased redemption, and also due to lower sales of experience gift cards. Also, we see a deterioration of, of gross margins in the loyalty business in Awardit CLS through the increase in Zupergift sales. On a group level, we also see an effect, where Connex comes in and with a mix of profitability between the companies in Connex that also skews the EBITDA, not the gross margin, but the EBITDA between loyalty and gift cards. I believe there will be some questions around that. We will also, in the near future, provide a better breakdown of that compared to what we have done in the report that has now been, been published. Looking at the total PNL for the group, it's again, obviously affected primarily negatively by the MBXP development. We have an increase in net revenues, an increase in commodities, primarily driven by the higher turnover of the business. Also, commodities as a share of revenues are up due to the sales of Zupergift through lower margin channels and programs. The other external expenses increase in the quarter, and that's including the addition of Connex, which brings SEK 4.8 million of external expenses. Comparable other external expenses increased by SEK 4.3, and that is the bridge I showed you before, where the largest part comes from MBXP with SEK 3.0 million. The personnel costs are increasing as share of revenues and are 18.8% for the quarter, compared to 13.5% last year. This is primarily affected by Connex coming in with a higher proportion of costs in, in personnel, and also a somewhat strengthened central organization, where we have added two roles compared to last year within HR and IT. Also, we have communicated around an OpEx efficiency plan for the group. Awardit has a history of being able to find synergies together with businesses that we acquire, and we are always looking to operate in the most cost-efficient way possible. Normally, we don't communicate around efficiency plans or targets, but we thought it would be suitable at this point in time to actually communicate what targets we have for efficiencies moving forward. Here we see savings of SEK 15 million-20 million on a full year basis, that we will be able to realize through working together in the organizations in DACH with joint organizations and joint systems. Here, we have already in the second quarter, joined the organizations of PremieDirekt and Connex together under one joint management. Now, one organization are serving the market with a full-scale solution and a full portfolio of business opportunities. Here we are already seeing that we are realizing business opportunities between the two organizations and somewhat also synergies in scale and cost of operations and a bit of staff as well. We are also looking at the Nordic organization, where we are able to, to trim down gradually, part of the, of the existing staff, and we are looking at centralizing, part of the administrative services from some of the, daughter companies, in the coming year as well. In this plan, we see that we will have a limited impact in this year. The impact in this year will be around SEK 2.5 million-SEK 5 million, and then the full impact of the savings will be achieved as a, as a rolling 12 number for second half of next year. Short term, we are looking at optimizing our consultants' setup. We're also short term looking at other OpEx savings in terms of costs to the business, travel, conferences, et cetera. That also have obviously a midterm effect and where we can find the savings across the group in working more efficiently. We also have personnel costs, they are more mid to long term. We are working on synergies in systems and way of operating, those cost savings and efficiencies are more longer term as well, will come towards second half of last year. As I mentioned, we work over time to work to be as cost efficient as possible, we see a further potential over time within the group from working even closer with joint group systems and operations. We also see further synergies of scale that we can realize in future potential acquisitions based on the full-scale organizations we now have, not only in Nordics, but also a combined full-scale organization that is set up and ready to scale in DACH. I will move on. Also, to mention that we have a positive cash flow from the operating business of around SEK 20 million in the second quarter. Last year, we had a positive cash flow from the operating business in the corresponding quarter of around SEK 2 million. A large improvement there, and a large share of that improvement comes from Conex joining the group. On a total level, the cash movement for the second quarter is negative, with SEK 82.2 million, and this is due to SEK 80 million being returned as unutilized credit space within our revolving credit facility. We still have this facility to draw from, however, now at a lower, lower cost. In investing activities, we have a negative SEK 1.4 million, and this is due to investments in intangible assets, so mainly capitalizing on certain development costs, et cetera. In the financing activities, apart from the return of the unutilized credit space, we also have a dividend paid of SEK 19.5 million, which is then leading to a cash flow from financing activities of minus SEK 100.66 million for the quarter. The cash conversion for the quarter is strong at 89% for the rolling 12 months now. To summarize where we are at Awardit, we see continued organic growth of the core business, although at a slower pace compared to last year. We still believe that we stand strong with the core business and that we have a strong foundation to add other clients to the platforms, to sign new clients in the future to it, and to continue on our strong organic growth path, both together with existing clients and new ones. This will bring us improved results in 2023 and beyond. Also, we see that MBXP should gradually normalize in the second half of the year. We see the first signs in Q3, and we, we believe it will be gradually coming back throughout the year. With the acquisition of Connex, we have a strong position in the DACH, we have combined with Premier Direct, we have built a joint organizational setup. And with this, we have a very strong potential to continue to grow, both organically, within this setup, but also through further acquisitions, where we have a potential to scale them even further as we now have what we need in terms of organizations in the market. In terms of procurement savings and cross-selling opportunities, this is something that we continuously work with. We also see that we have business-oriented synergies within the group, with cross-selling of products across regions, platforms, and channels. We have initiated the cost savings program, and we are targeting SEK 15 to 20 million as I, as I mentioned, and as I talked you through. We also see a potential to continue to launch Zupergift in additional variants and in new markets to find verticals, markets, and channels where we can make a good business out of Zupergift in the future as well. We have launched Zupergift in DACH through Connex sales channels late in Q2, and are seeing the first results from that as well. We are tweaking the business model of Zupergift in the Nordics as well, in order to make sure that we are profitable with that business, and that we continue to grow in the right way and in the right channels, obviously. We also see that we, we do have a steady flow of new customers. In gift cards, we have a steady flow of customers joining our processing platform. In the loyalty segment, we are growing with new clients. We are, have signed a new client for a full-scale B2B platform and launched in DACH, and that is a client that we cannot go public with as of now, but we'll communicate more about later on. In the Nordics, we have a strong pipeline of new prospective customers that we are in dialogue with, and that we believe we can sign at least 1 or 2 in the second half of the year. We also have identified additional value-creating acquisitions. We have good dialogues, and we believe that we can find additional acquisitions that fit well with our current proposition and that can create synergies moving forward. We have SEK 248 million in our cash position in the end of the second quarter, and we have a non-utilized loan facility of SEK 160 million on top of that, which provides us with buying power for potential future acquisitions. We have the DACH organization ready to scale. We see synergies between the two organizations already, and we see a potential to add additional acquisitions in the future. We continue to build this business towards becoming the leader on the European market in the future. We have a very strong position, obviously, in the Nordics. We have started to build our position in Europe. We do have a strong position now in DACH that we will continue to build on. That is a summary of where we are. Obviously, again, not satisfied with the result for the second quarter in general, and in particular, related to MBXP, and we are working hard to mitigate these results and come back here with better results in the third quarter. With that, I will open the chat for questions, and I will try to answer as many as possible before 11:00 A.M., obviously. I will take them, pick them in the order that I read them here. The first question is, "Have co-marketing costs to Coop continued into Q3, and if so, how long do you expect it to continue?" Co-marketing costs to Coop has continued into Q3. We also see a somewhat lower costs of contributions to retail as share of sales in the beginning of Q3. We see that the combination of much lower sales, higher redemption, and higher marketing costs is a mix that we gradually will see improve here, and we see the first signs of that in early Q3 as well. Next question is: "For an outsider, it looks like you are losing high gross margin loyalty revenue, but you managed to offset the decline by adding low gross margin revenue from primarily Zupergift. Is that a correct observation?" We are in the loyalty business, we are growing with our largest clients, and in our largest client accounts, we have the same level of margins and profitability as last year. We have some difficult comps from last year that we do not overachieve this year, and there we do of course not get the margins from those sales that we are not achieving compared to last year. On top of that, we add Zupergift sales that is complementary and do not take away from the sales that we have in the programs, and these sales come with a higher margin. Oh, sorry, the, the sales of Zupergift come with a lower margin and therefore dilutes the margin on a total level. I, I hope this explains that, that, that question. "In your CEO statement, you attribute most of the headwind to MBXP, minus SEK 10 million EBITDA." When looking at the segments, loyalty is the worst-performing part of your business on a growth and EBITDA level, which MBXP is not part of, according to your own segment reporting. Please elaborate. Here we have, there is an effect of Connex coming into the business, where we have a mix of revenues and profitability from the Connex business that is skewing the results between loyalty and gift cards. This, we will provide a better bridging of in the future. I understand this has not been clear in the report as well. This is something we, we will improve in our reporting to explain in the future. Also, I mean, part of the, part of the, the rest of the deficit compared to last year is in the loyalty business, where we had lower Zupergift breakage this quarter compared to last year's second quarter. That breakage comes in the loyalty business. Next question is: "Do you expect any changes or lower growth for Zupergift? What does tweaking the model mean?" Throughout the first half of the year, we have been selling Zupergift in channels that have been somewhat new to us. Partly, we have been campaigning in SAS EuroBonus and also selling through affiliate channels. Here we see that we believe that we can make stronger margins in the future, but potentially from lower volumes. We are tweaking those channels and the setup of Zupergift in those channels moving forward. I expect that we will see a slower growth of Zupergift sales in the end of the year compared to what we had in the first half of the year, but strengthened margins from those sales gradually from the end of Q2 and till the end of the year. Ex-Coop reduction, what was the organic growth number? I do not have that as a isolated number, I'm afraid. I mean, the total level of growth for MBXP was around 3%. MBXP had a growth on a total level, but coming from other products, and that was then offset by, by the Coop decline. Ex- if you take MBXP and take away the Coop business, I mean, that, that was a declining revenue for sure in MBXP. I don't have a total organic growth number excluding Coop, I'm afraid to share. What was the core loyalty EBITA margin? There we had a margin that corresponds to what we had last year. And that is in the same region as Q2. I see. I have that here somewhere. Cecilia, can you help me there, please? Well, in waiting for that number, the margin was at par in terms of gross margin with the EBITA margin last year. What, what has affected-- I mean, the gross margin was at par with last year, and then EBITA margin has been in the loyalty business, that has been somewhat affected by higher costs in the organization, et cetera, because those costs in the Swedish business are mostly allocated to the loyalty business. That's where you see the higher cost of the staff, which is around 1.6 million SEK, affecting the sort of EBITA margin then of loyalty, if you break it out into the two subsegments of the business. The gross margin of the loyalty business is at par with last year. Could MBXP consideration be lower than recorded in the balance sheet? It could potentially be lower. We have not yet finalized the calculations of the earn-out, and that follows the procedure that is agreed. Obviously, we are keen to make sure that the calculations reflect the true results and follow the model that we have agreed upon. It's possible that the consideration can be lower. I don't-- we don't believe it to be higher than what we have recorded on the balance sheet. I will be able to give you more light on that, of course, as we finalize the calculation. Next question is: Could you give more light into the... Sorry, now I skipped one. Could you give more light into the acquisition possibilities in DACH, the pipe, the size of the companies, timing, et cetera? We are in a, a live dialogue with potential targets in DACH. We see that we should have a potential to hopefully sign an acquisition, another acquisition this year. There is a potential, I've talked about this before, to acquire businesses within different parts of what we do already in DACH, and also to find additional pieces to create even more of a full-scale offering. In my view, we have a very strong offering already in DACH now, through the combination of Connex and Premier Direct, and we have a very well-functioning, full-scale organization. I see an opportunity also to acquire something that fits well together with the existing organization and the existing business, and that we can bring further synergies of scale and further possibilities to scale the business together with another client of similar kind to Pramie Direkt or a similar kind to the Connex loyalty business, primarily in the future. Here, we're looking at businesses in the size of around, up to the size of Premier Direct in terms of revenues. Next question is 2 questions. In Q1, you mentioned that Q2, specifically April, began with strong momentum, mirroring Q2's organic growth. Your earlier statement made me quite optimistic. What unexpected factors led to the significant decline in growth in May and June? We have seen slower growth and worse development than expected in MBXP, obviously, as I, I, I have mentioned. We have seen a slow development in PremieDirekt, where the rewards management business is, which, which PremieDirekt is in, is developing slowly and still have a challenging market situations where the revenues are pretty much at par with last year. We had hoped for, for some more, obviously, for this quarter compared to last year's second quarter. Also, the, we had some extraordinary sales figures in last year's June, primarily, where we had the sales in SAS EuroBonus that were higher than expected last year in June, July and August. Those also then take down the comps in the second half of the, of the second quarter. Next question is: Given the communicated positive outlook in the Q1 report and that the profit warning was issued just 6 days prior to the report, despite the somewhat delayed and late reporting, I mean, I'm keen to understand which key metrics you and the management team monitor on a daily, weekly, and monthly basis. I mean, I cannot go into too much details of the exact metrics that we are tracking. I can say that in, in NBPX, we have a delay in the transparency of results, which we are currently working to shorten, of course, and to increase the visibility into ongoing results in a month... in a week, in a month, and after closing a month. Here we have an ongoing work that we are doing. We are currently strengthening our business controlling function of the company, both on a business level but also on a group level. We are looking into improved systems to monitor on a daily level and a weekly level, the progress of the business, and also shortening the lead times for reporting on monthly and quarterly levels moving forward. This is an area where we can and will improve in the future. Next question is: How is the thoughts about making DACH using only Awardit name or other... No, I cannot see the rest, actually. Or other. How is the thoughts about making DACH using only Awardit name? We have been keeping a part of our daughter companies' names. Historically, we have merged some companies into Awardit, using the Awardit name for our offering, and in some other areas, we have kept the original names. It de- it depends on really what kind of established position we have in the market. PremieDirekt, of course, is an established name with high credibility, and it's well known in the German and DACH markets, and the same thing with the Connex. In the future, it's potentially a way to go to merge all businesses under an Awardit brand name, but it's nothing we are considering in the near future. As we grow, we are evaluating how to position our different brands across the group and how we are utilizing Awardit also as an umbrella brand for the group, and how we make sure that Awardit gives a halo effect and a positive connotation also to our daughter companies. It's something that we. I mean, we have looked into it in the past. We have decided to keep, as an example, PremieDirekt and NBPX as separate brands. In the future, we will continue to look into it. Final tip, make the Q reporting faster. Thanks for that, Marcus. I fully agree, and it's something that we are working on, and we will improve it in the future. Maybe you're referring to I should speak faster in this call. I don't know if I can achieve that, but I will try for next call as well. Yes, that is all the reporting, I understand this. Thanks for this. Again, thanks for the questions. Any kind of additional questions, don't hesitate to reach out to me, and I will be glad to answer any questions I can through email or phone. Please give me a call or send me an email with any questions you might have. Thanks for listening, and I hope to see you again in a quarter's time and present better results then. Thank you very much.