Thank you. First of all, welcome all to this presentation of our Q4 report. Next page, please. Today's agenda will be that we have a company overview. We will guide you through the highlights in Q4, and then Johnny will also guide you through the financial update, and then we'll end up with a summary Q&A. Next page, please. The next page, please, again. If you look at the Byggfakta at a glance, you can see that we are the market leader in most of the regions where we are present. That's an important position to have in this market because it is extremely hard for anyone else to step into this market, meaning that it's extremely high barrier to entry. That's due to the fact that you need at least three elements. You need the content, and you need unique and proprietary data, you need the tech platforms, and you need the client base. If we look at some of the customer characteristics with our businesses, that we have a huge and diversified customer base. We have more than 47,000 clients. We are also covering close to 1.1 million construction projects, and we have more than 1,800 employees. You also can see that we have pretty good margins. You can see that we have an adjusted EBITDA, which has went up from 640 million Swedish krona up to north of 700 million Swedish krona. You can also see that our ARR growth has been performing extremely well as well. Next page, please. What is it then that makes us unique and sit as a spider in the center of this construction ecosystem? Our core product information gives us the opportunity to follow the construction projects from the early stage when the property owners is having plans to build something until the last contractor is appointed. That gives us the opportunity to also have a number of other services connected to the construction market, where we can market those services to the right person in the right time. An example of that is the specification information, the product information, and the e-tendering solutions. Next page, please. If we then go into each one of these projects or products, and start with what we call the core project product, the product information. That is the service where we're collecting information about all planned and ongoing building projects. Normally you ask yourself, how do you do that? There we have a number of sources that we are using. The core ones are that we are, of course, spider all the important websites to find information. One example could be that we could crawl the municipality of Oslo's website, finding out that they have decided to explore a piece of land for building industrial buildings. That's a starting point for us to create a new project. It means that we give the town of Oslo a call, asking for more information, try to find out who will be the property owner. We continue the interviews with the property owners to find out who will be the architect, the technical consultant, the contractor, and the subcontractors. Another example could be that we could find out from the local newspapers that the school in Stockholm had burned down yesterday. That will give us probably two new projects. First of all, they need to clean up the old school, and probably they need also to build a new one. In all these calls which we are doing, it's also an important source for us, because we always, in the end of all these calls, ask, "What else are you doing?" That is actually the most important source for us to find new projects. You ask yourself, why on earth are they willing to give you all this information? That's due to the fact that even if you are a professional builder, you don't do that many projects during your lifetime, and it's almost like talking about your kids. They were extremely willing to give us all the information because they know if they give us the information, they will also get the best offers, the latest innovation when it comes to product innovations and so forth. That's also a way of developing the construction market. A third and very important source is also that we also collect all such building permits. That's more of a safety net for us to be able to say that we are covering 100% of all the projects. The problem with the building permits is that they are fairly late because most of the decisions are already made when they are searching for building permits. In over 80% of the cases, we have found the project in a much earlier stage. We can say that we're covering every project from when you are searching for building a small garage until you're building a big hospital or whatever it might be. Who are buying this kind of information? In this case, it's more or less everyone who could be involved in a construction project. It's everything from banks who would like to finance the project. You have the architects, the technical consultants, and contractors who are looking for more jobs. Then you have all the building manufacturers who actually would like to sell their products into the construction market. Then of course, you have other service providers like renting out cranes or cleaning up the construction sites and so forth. It's a very huge and diversified customer base when it comes to the product information. The second product area that we have is what we call the specification information. This is a service where we are helping the architects to do better specifications. What we have done is that we have developed a tech platform that helps them to do those specifications, and that also connected them to the big CAD solutions that we have. It integrates it with drag-and-drop functionality when the architect is sitting there and choosing the product. This helps them actually to avoid mistakes that occur on the drawing. We know from studies that one third of all the mistakes that occur on a construction site, you can already see on the specifications and on the drawings. This is a system that helps architects, mainly architects, but also partly developers and contractors to do better specifications and create a lot more efficiency and save a lot of time for them. Our third product area is what we call the product information. That's a database where we are collecting information about all building, forgot also to say that the buyer of the specifications software solution is the architect. When it comes to the product information, it's a database or a library with all the manufacturers' building products. This is also then connected to the specifications. When an architect is sitting there making his drawings and would like to find a certain product, then he can search in our database, find all the necessary providers or suppliers of all this product, compare the different suppliers, and choose one of them. Then they have all the necessary information like the CAD details, the 2D BIM objects, the 2D and 3D CAD details. You have the unique specifications for this product. You have also all the environmental information, which is extremely important today, and you have also installation instructions and demolition instructions and so forth. The fourth area where we are working is what we call e-tendering, and that's a solution where we are helping developers and contractors to do proper procurement and e-tendering. This is also a very efficient way of doing procurement within the construction industry and helps them with both transparency and also hopefully then also lower prices in the end. Next page, please. Next page, please, again. If we look at the highlights of 2021 and we start with the financial highlights, we're extremely proud of that we have been able to grow with double-digit both when it comes to the net sales and ARR growth. We also are happy to have a fairly good margin. It performed at 36% margin, and that is something you should be aware of when we're acquiring new companies. They normally come in with a much lower margin than we, mainly around 20%. I mean, that's always diluting us. When it comes to the operational highlights, we have continued to execute on our M&A strategy, and we have a very active M&A pipeline also forward-looking. We have strengthened our organization to support future growth, and that's mainly by extending a number of sales people. Our post-merger integration and synergies extraction is on track, meaning that we are doing what we are saying that we should do. We have also been able to complete our IPO. If you look at the market highlights, during last quarter, we were a little bit worried about the market situation, but now we can see clear signs of normalization regarding the lack of building materials and personnel. It's not down to the level it should be, but we can see clear signs that it will be normalized during the spring. This is not really a problem for us and has never really been for us. We have been able to deliver good sales even during this period, and this was just a temporary thing. Next page, please. If we now move into the financial highlights for the Q4, you can see that our net sales has been increased with 113%, and that's mainly driven by acquisitions. We have also been able to grow organic net sales with 11.4% organic, which is good. Our ARR growth has also been increasing quite rapidly, and that's also due to the fact that we have done a number of acquisitions. ARR growth has been double-digit, so that's really good. Our adjusted EBITDA has gone up to SEK 170 million. You can also see that our cash flow from operating activities is really good. It's in the quarter SEK 183 million. Our net debt is slightly above our financial targets, meaning that we're 3.1, expected 3.0, which is our own sort of financial targets. That's due to the fact that we have paid for all the acquisitions that we have done during the quarter. We will continue to not have any dividends during the year. As you can see also, our margin has improved compared to our Q4 2020 compared to this one. It's almost four percentage points, even though we have been doing acquisitions which actually have taken our margin down. Next page, please. Looking closer into our acquisitions, you can say that we are doing acquisitions in three different areas. First of all, we have the local market consolidation, where we actually are acquiring companies with clear revenue and cost synergies. Some example of that is Glenigan in the U.K., Construdata21 and Nexus IT in Spain, and Forecon in Finland. We're also doing new market entries, and there is more when we are entering into new geographies. One good example and big example for that is BCI in Australia, Southeast Asia, and U.S., but also INFO-TECHNO in Austria and CIS in the Republic of Ireland. Then we have also the third area where we are expanding, and that's where we're expanding our value proposition, meaning that we're adding services into our portfolio, and one good example of that is NBS. As you can see, we have finalized or completed 6 acquisitions during the quarter with increased net sales of SEK 350 million. During the year, we have done 10 acquisitions, more or less doubling the size of the business. What we are doing when we're doing these acquisitions is that we're aiming for a common platform in the different product areas. The one important part is also that we always introduce the Byggfakta sales model, which has been extremely successful for us. That will give accelerated ARR growth and will also scale when it comes to cost reductions. Next page, please. If you look a little bit closer into the six acquisitions that we have completed during the quarter, and starting with the biggest one, the BCI Media Group, where we now have our footprint in Australia, New Zealand, Southeast Asia, and B.C., and in the U.S. This is an important acquisition for us with extremely good markets to operate within. BCI is a company that we know fairly well as the management team of BCI was actually part of the Byggfakta team in the mid-'90s. It's a copycat more or less of the Byggfakta Nordic business model, or vice versa it might be. They claim probably the other way around. We're doing exactly the same things. We see a lot of synergies when it comes to technical development and also that we can share in best practice between the companies. The second acquisition we have finalized during the quarter is INFO-TECHNO in Austria, and that gives us a footprint into Austria with a market leader when it comes to product information and e-tendering. The third one is Nexus IT in Spain, which was one of the competitor when it comes to e-tendering in Spain. This gives us now a much better position when it comes to the e-tendering solution, where we now is the clear market leader in Spain. Fourth one was Construdata21, which now gives us a footprint for the project information in Spain, which is an extremely important market for us. If you look at Spain as such, I think it's kind of underdeveloped when it comes to project information compared to the other mature markets like in Australia, U.K., and the Nordics. Here we see a huge growth potential by introducing both the sales model, our technical platform, but also improving our research. The fifth acquisition we did was CIS in Ireland, and that was a company which has the perfect fit into our UK business, Glenigan, because they were really already cooperating partly before that. Now we are actually owning them, and we also could share our technical platform, which also will have a huge impact on the future growth. The fourth one, sixth one was actually Forecon in Finland, which is a project information service mainly focusing on analysis and statistics, which it gives us another dimension how we can use the information in the project information. One important thing is that when we are acquiring these kind of companies, they normally operate with a lower margin than we are, meaning that they are starting around 20% margin. When we are introducing our technical platform, our sales model, and also working hard with the companies and can launch a number of new products, we normally could improve these companies to come up to margins around 40%-50%. We also have a very strong future product pipeline for more targets to acquire. Next page, please. Moving over to the operational highlights and what we have done during the quarter. We have invested quite heavily in the organization to drive further organic growth. What we have done is expanding our sales teams to capture a large underserved market with strong momentum. We can see that one of the things that have held us back is actually that we have not been enough of salespeople, so we can see that we can increase quite rapidly there. We have been insourcing our sales force in Vortal, and that is an important part because we think that sales is core for us. That means that we would like to have control over it. We can already see that they have a good impact. We have also been able to roll out the tender project in the Nordics, starting in Sweden, where we now have our first paying client. That's extremely exciting to look where that will take us. We have also strengthened our group functions. We have now an integrated support team with a number of PMOs helping us to actually accelerate the integration between the companies. We've also strengthened our IT team, and that's also because we would like to work much harder to come to a common platform in the different product areas. We have also strengthened our headquarters team in finance and ESG and HR. We have also identified a number of synergy potentials. On the cost side, we can now say that we have started the integration of MBS operations in Australia with the BCI's operations in Australia, and we have a number of other smaller initiatives as well. We have of course implemented the Byggfakta sales model, which has already right now we can see good results because we can see the project information in U.K., Glenigan, have now been growing with double digits coming from very low single digits, and the same with Vortal in Portugal. Another area where we've also been working quite hard is when it comes to our sustainability work. Here we have taken our first step to be a net zero carbon business within 2030. Our own footprint is fairly limited as most of us are sitting in the office and then working via the phone that we don't have a huge impact on the environmental situation right now. What we have and where we can see a huge thing for us is that we can actually use our services. Right now, we are in all our product information, we are marking all building projects that has an environmental profile, meaning that now, companies could search for environmental projects, which gives us a competitive edge. Another area where we're working extremely hard is also on our product information, where we are actually helping the manufacturers to promote their products where they have an environmental profile, meaning that we can also help the property owners, the architects, and the contractors to do better choices when it comes to environmental profiles for the project. This is an area where we think we have a huge role to play in the future, and we'd actually help the market to do and to make better choices for the future. Then I leave it to Johnny for the financial update. Good. Let's look at the numbers then. We move to page 15 and look at the full year of Byggfakta. What we have done with the numbers is to provide a full pro forma picture of the group. We have done a pro forma of all the numbers, including the acquisitions we have done during the year. That means going through the BCI now in the pro forma, of course, but also the five smaller acquisitions. What we can see on the full year performance is that we have been able to grow organically with more than 10%. We have an organic growth for the full year of 10.7%. A small negative FX effect, but we are keeping the momentum on our net sales growth during the year. You need to remember when we pro forma in the newer units, they come with a lower growth history, so they're actually pulling down the rest of the old group. Without the acquisitions, we have even better numbers. We have also been able to deliver a good EBITDA growth. We're also growing the EBITDA with the same speed as we're growing our net sales, so 10.7% organic EBITDA growth. We're keeping the margin stable, 36% for 2020, and still at 36% for the full year of 2021. Again, the acquired units are coming in with lower margins, as we say. Good momentum for the full year on both revenue and EBITDA. The net debt for the full year is at 3.1. I'll cover that later. We'll move to page 16. Where is this growth coming from? We have also been able to deliver a pro forma organic ARR growth. What is the growth of our subscription portfolio, which constitutes 82% of our revenue base? We are growing the ARR base with 10.2% organically in 2021. This is also a full pro forma number, including all acquired entities. Again, here, if they come in with a lower growth history on their ARR base, they're pulling down the group. We're very pleased to see that even with that effect, the total pro forma is delivering 10.2% growth for the full year. This comes from our new sales and the Byggfakta sales model. As you can see, we're onboarding or acquiring new clients at a much higher pace than we are losing clients. That is the key driver of the growth in this company. We are very happy to see that we have accelerated growth in several of the acquired units during 2021. Maybe important to mention, we have a positive FX effect now in Q4, because ARR is as a balance sheet item. We have seen some uplift in especially December and some on the currency effects, so a SEK 84 million positive effect in the quarter. Total ARR growth is actually 16%, including the currency. We move to page 17. Where is this growth coming from then in our ARR base? A key factor for us is of course our net retention. What is the renewal rate on the existing client base? With this, we are also calculating a full pro forma. This includes all the acquired entities. We're happy to see that we have been able to improve our retention during the Q4. As you can see, it's up 0.6 percentage points from 82.3%- 82.9% on a rolling twelve effect. We see the retention levels now coming back to the increasing trend. That this is also driven by very good retention in some units. In Glenigan, for example, we see a very nice uplift on the retention levels of the UK product clients. This also means that if we look at the ARR growth on a rolling twelve for the Q4' s of this year. We're happy to see that all quarters are at the 10% level. We had a very strong Q2, as you can see. Now in Q4, we have been able to accelerate a little bit versus the Q3 performance. We are at 10.2% ARR growth organically for the full year, which is now in Q4. We are clearly delivering on our 10% growth target. We move to page 18, which is the highlights of the quarter. If we look at the absolute numbers on sales and EBITDA, you can see they're increasing nicely. We're up to SEK 512 million of net sales in the Q4. This is actual numbers. This includes the acquisitions from the date they were acquired. Most of them come in from the first of October, and Nexus and Forecon are coming in from the first of November. We almost have a full company in the actual Q4. The EBITDA grew with almost SEK 20 million from 153 in Q3 up to SEK 170 million for Q4 on an actual basis. We're also happy to be able to report what is the organic net sales growth in these re-reported numbers now. We are seeing an organic growth in the reported numbers of 11.4% for the group in the Q4. We also see some effects on the EBITDA margin. As we say, when we include the acquired entities, they come in with lower margins. We have a dilution effect if you look at the margin percentage. You need to remember that Q3, we had a very strong margin from the seasonal effects of the vacation, and that is now not, of course, present in the Q4 numbers, and that's roughly a 3% effect on the margin. That is explaining some of the margin between Q3 and Q4. Yes. We can move to page 19. Let's talk a bit about our five segments, what we see in the segment. If we start off with our own historic core, our Nordic business, we have a strong quarter in Q4. You can see that the net sales grew a lot with almost SEK 30 million in the quarter. Also the margin is very strong at almost 38% for Q4. Here you have a fair comparison between last year and this year. If you look at Q4 in 2020, the margin was 35, and now we're cruising almost at 38%. You of course see the seasonal vacation effect in Q3. If you take the trend line on our margin in the Nordic region, this is a strong momentum on the underlying margin. You can also see that we have reported our organic net sales development. We can now compare quarter- quarter, and we are cruising at 13% organic growth in our most important region. That is a very strong, nice number to see. Where is this coming from? I think all markets are growing. The four Nordic markets we see as the strongest growth, actually Norway, followed by Finland, but also good numbers coming out of Sweden and Denmark. All across, we have a good momentum in our Nordic old core business. You can see that the subscription share in the Nordics is slightly lower, and we are quite successful in launching the add-on services, which are also not reported on subscription basis. That's also driving the growth in this Nordic region. The Forecon effect here is quite small. Forecon is a small business with an annual revenue around SEK 10 million. The impact in the quarter on net sales is only SEK 2.5 million roughly from the Forecon acquisition. If we turn to our second biggest segment, which is the UK and international operations consisting of MBS and Glenigan. Here you can see that we have accelerated the net sales, so we are moving up with SEK 10 million in revenue in this segment. Here we do have a margin effect, which we need to explain. What has happened during the Q4 is that we have allocated a group overhead costs to this segment for the full period since we bought the businesses. So the thirteen million you see here impacting the EBITDA is an allocation for the 10-month period from March to December impacting the Q4. That's why we have also in the graph adjusted the margin for this allocation. It's just a right pocket, left pocket allocation, and you would see the offsetting effect in the headquarters numbers. Still, we are investing in this business to accelerate the growth. We are investing quite heavily in the Glenigan sales force to keep up the good growth numbers we have seen during 2021 to move forward into 2022. Also in MBS, we are investing to continue on the growth. If we touch on the two businesses, we're very happy to see that Glenigan is delivering a 10% organic growth during 2021, and that has been driven by a very strong retention uplift on the client base, but also new sales coming through. We're able to accelerate that going forward, or at least that's the plan. MBS has always been growing strong, and they're always delivering really about double-digit organic growth numbers. You will see these numbers starting to come into the reporting on the organic development in Q1, because then we are having a comparator for our UK segment. If we move forward to page 20, we see our newest segment, Asia-Pacific and U.S., the BCI business is starting to come into the numbers. Here we're coming in with SEK 73 million of sales in the quarter, and a margin of about 19%. You know that BCI has been slightly higher on a full-year basis historically. But we are investing also in BCI to accelerate growth with the U.S. portfolio, but also in Asia and Australia and New Zealand. We are heavily investing in the sales force. We are happy to see that growth in BCI is good. We are not reporting the numbers because we don't have the comparator. We see the revenue growth and ARR growth being up to 10%, and even much faster in some of the markets. Good momentum in the BCI business at the moment. If we turn to Continental Europe, our fourth construction segment, you see a very nice uplift on the net sales line. We're up to SEK 90 million of net sales in the quarter, and also a strong improvement on the margin and EBITDA delivery in this segment. We had a good ending to the year with our Continental Europe business. Vortal is performing very strongly, as Stefan said. Also the Czech Republic and Slovakia is growing nicely. Here, you're starting to see the organic net sales numbers. We are growing in the Q4 7.1% organically. Here we have a mixed picture. If we look at the Olmero business in Switzerland, it has been a restructuring year during 2021. You know, we sold off two businesses in the early part of the year, and we have refocused the business now to the construction solutions, so the eTendering solutions. We still haven't gotten growth rate up. That operation is pulling down the average growth rate in the segment while the others are delivering the 10% momentum. That's why the total is 7.1. Here it's also quite a heavy impact on the positions with the two Spanish ones coming into the segment. We are very happy to see that we are now the clear market leader in Spain. We can take out synergies, and we can accelerate growth in the Spanish market. A very interesting position to have. If we move to 2021, then our fifth and then smallest segment, our other operations, our healthcare and operations. They had a strong ending to the year with a good profit delivery in this smaller segment, and also growing nicely on organics. We see a bit of rebound in this segment, and we're coming out with good numbers in the Q4 on the operations here in our other operations. Okay, let's look at the cash flow and working capital. We go to page 22. As you can see, we have now a negative net working capital position of almost SEK 600 million, of course, partly impacted by the acquisitions coming in. Again, you see that the negative is increasing, and that's of course a good sign for us. That releases cash flow and drives our cash generation in the business. We always focus on what our capital expenditure in the quarter and in the full year. In the Q4, you can see that our CapEx is going up slightly. This is of course actual numbers. So when we include BCI and also the 5 smaller acquisitions, you can see that our capitalized spend on IT development is increasing somewhat in the quarter. That's mainly an acquisition effect. If we look at the full year, CapEx numbers, we have spent SEK 84 million on capitalized development or IT platforms, but also it's a SEK 5 million effect from some brand acquisitions included in that in Denmark when we bought some brand business. Without that, it's slightly below the SEK 80 million mark. Again, when we talked about earlier in the IPO, we didn't include the development costs in the five smaller acquisitions. They were not part of the group at that point, and of course, they have increased this number slightly above what we thought we would spend for the full year. If we look at our capital structure, we're now happy to report the new capital structure, which is in the December balance sheet. You know, a lot of things happened on the IPO, on October fifteenth. We did the primary share issue of about SEK 3 billion, but we also moved out part of the debt to our owners with the net of share issue. Following that, we are ending the year with a net debt to EBITDA, and this, of course, is the pro forma EBITDA, the SEK 707 million we talked about earlier. We are now at 3.1x leverage, and this includes the lease items or our IFRS 16 debt items. Why is this slightly above 3.0? Again, we have paid SEK 240 million for the five smaller acquisitions during the quarter, and that of course has drained cash from our balance sheet. Without those new acquisitions coming in, we would have been roughly 0.3x lower on net debt to 2.8. Cash flow for the quarter is strong. We have generated SEK 180 million of cash flow from the business. You need to remember that Q1 is actually normally our strongest cash flow quarter when we get the annual subscription payments in during January and February. Good momentum on the cash generation in the business. We like to compare ourselves on page 24 to our financial targets. Of course, are we delivering what we said we would? If we look at the growth momentum in the business, it's nice to see that we are delivering above double digits growth on both net sales and ARR. Net sales is SEK 10.7 for the full year, and ARR is SEK 10.2. We see a bit of pickup in our non-subscription business, so that's quite unusual for us that net sales is slightly higher than ARR growth. ARR is also diluted by the acquisitions coming in with the lower historic numbers. Margin-wise, we are at 36%, as we said, for the full year, and we have a target of 40% medium term. We will continue investing in our business to drive growth, and that has had an impact in the quarter, so why the current margin is slightly lower. It will always take 12 months before you see the full P&L effect of the growth investment. When we build the sales force, we acquire new clients, that comes into the P&L over the 12-month period. We reinvest one twelfth of the new sales or new revenue we generate from these sales investments. Margin will pick up, and that's why we stand firm on our medium-term target of 40%. Capital structure, we are at our 3.0, and it can temporarily be affected by the acquisitions in the Q4, ending the year at 3.1. Our ambition is to continue growing through M&A. We have a strong pipeline, as Stefan said, so we will not propose a dividend for this year. We will use our cash flow to drive further growth in the business. Thank you, Johnny. We have a short summary just to summarize before we take the Q&A. As we said, for us, this is a very strong and solid quarter. We think we have delivered according to plan, or slightly above, to be honest. We, as you can see, we have a very solid business model with prepaid subscriptions, meaning it's very easy to predict the future with this business model. As we have said, we have grown with double-digit organic growth, both of them when it comes to net sales and ARR. We are proud to have an adjusted EBITDA north of SEK 700 million with a 36% margin. We are continuing to deliver our M&A strategy, and we have a very active M&A pipeline. An important part is that we have strengthened our organization for future growth, mainly then in the sales department. The post-merger integrations are going according to plan, so that's good to see. We see a clear sign of normalization of the construction market, which have a limited impact on us. As you can see, we've been able to deliver even though the construction market have been a little bit up and down. That was all for us. We open up for Q&A. Thank you. Ladies and gentlemen, if you have a question for the speakers, please press zero one on your telephone keypad. We already have some questions. We have the first one from Joachim Gunell from DNB. Please go ahead, sir. Thank you very much. Good morning. Just two questions from me. I mean, in light of the fact that you've now had two consecutive quarters as a listed entity have delivered according to plan, as you've already highlighted, what would you highlight as your I mean, key strategic priorities in order to do so also into 2022? Well, I think the key for us is to continue to have focus on sales and also to have focus on the integrations on the newly acquired units that we have. That will make things happen and that will also develop the company. That will be the key for us in the coming months as well. Understood. What, I mean, perhaps that relates to the previous one, but I mean, in the current, I mean, environment, what do you see as your main barriers to grow faster? Perhaps any comments on whether we've seen growth rates pick up in acquired units since you started to integrate them? Well, I think the barrier for us has been that we have been lacking sales people, and we have not been fast enough to recruit sales people. I think that has been the overall negative situation for us. It has not been that easy to recruit people during the COVID situation. People has not been that willing to change positions and so forth. I think that's something that's picking up right now, and I also think we get some tailwind from being a listed company, meaning more well-known and, like, people know more about us. I think that has actually helped us. We see right now that we have filled all our open positions. I think we are ready for continued growth. Thank you. I mean, just any comments there on whether we've seen growth rates pick up in acquired units since they become a part of your group? Yeah, we can see, especially then if you look at Glenigan in U.K., where they were coming from low single-digit growth numbers up to double digits right now, and also in Forecon. We can also say in Istav in Czech Republic. We see a number of good examples where we have been able to, when we've integrated the most low-hanging fruit, which is the Byggfakta sales problem. But also now with COVID starting to blow over, we can actually start integrating the units much more efficiently. We can run meetings, we can travel between the countries, and we had the Glenigan team up in Sweden, for example, now in January. That really drives the speed of implementation on some of the things we want to change in the acquired units. We see very good acceleration across all acquisitions, but the only one which has not accelerated yet is Olmero. It has been a restructuring year in that business, and we divested parts of the core in that unit. Thank you. We have another question from Dennis Bali from Carnegie. Please go ahead. Morning, Stefan and Johnny, and thanks for taking my questions. Starting out on the balance between growth and profitability in the short term, I think, yeah, you were pretty clear on the sort of accruals effect over time and how that sort of what it implies in terms of sales growth. Would it be possible to provide some comment on the margin development here in Q4 with respect to dilutive effect from the acquisitions versus increased growth investments? I mean, you had this 36% adjusted EBITDA margin pro forma, and here in Q4, it's at 33.2%. Yeah. No, we have done a bit of a analysis on that, but internally of course. If I try to break it down for you, what is the margin effect in the Q4? We see again a dilution from the acquired units coming in in the quarter. That's roughly 2%, from that. The seasonal effect, if you look at Q3 and with the vacation releases in the different geographies, especially in the Nordics, that has a roughly three percentage point impact on the margin in the Q4 compared to the Q3. Then we look at the growth investment. We talked about increasing the sales force around in the unit, integrating the IT platform. So what are we investing to drive performance in the business? That's roughly a two percentage point impact. Then some of the headquarters increases, less than a percentage point. That's how the margin develops in the quarter. As we say, the growth investment will pay off over time. Also the seasonal effect will even out over the years. That will come back again in 2025. The effect when you are employing a number of new sales people is on the EBITDA side is fairly slow because the costs are coming directly, but the revenue is deferred. I mean, it takes some time until you see the effect on the P&L. Got it. Very clear. Thank you. Could you say something about the status on the ongoing rollout of new services such as Byggfakta SMART? Any hiccups or is everything developing according to your plans? Would it be possible to provide any numbers on the share of customers being on Byggfakta SMART, for example, compared to, let's say, legacy solutions? What we can say is on the SMART rollout that has been going on right now for some time, and where we can see some good effect is actually on the renewal side, where we can see that it's higher renewal rate with the SMART clients compared to the old systems that we had. We still are in the starting phase, so we have a huge opportunity to continue to grow on existing clients as well. The rollout is ongoing in the Nordics and has been ongoing for quite some time. All new sales is done on the Smart platform for the four Nordic markets. We are converting the existing clients from the old legacy platforms into Smart, and that is speeding up, and we're in some markets getting fairly close to full penetration on Smart. Norway is the first market to convert. There we have the highest share of Smart subscriptions from the total portfolio, and the rest are following the Nordics. Also at year-end, we switched the whole platform in Czech Republic and Slovakia onto Smart. We have done a full switch there in end of December. Great. Thank you. Also, how should we think about the split between subscription and other revenues? I'm thinking especially of the Nordics here. I mean, the segment seems to be doing very good on sales. Could you provide some comment on the underlying drivers concerning the other revenues and how we should think about the split going forward? No, I think the split in the Nordics is mainly then based on that we can see a lot more activities, mainly done by the manufacturers, as they would like to do special things with our information, meaning their marketing campaigns and so forth. This is even if it's not subscription, it's recurring because it's always coming back. It's, but I think the split will be slightly more in the area around 75-25 in the Nordics at least. This is a growth area in the other units, to be honest. We would like to launch these add-on services, which I would put as a direct sale. Again, they are recurring because they're buying every quarter or every month or every year. Recurring revenue, but it's not a subscription agreement at the moment. Here we see some pickup in the interest for these services. With this COVID starting to go, we can actually do book meetings, have the physical meetings again. We see a bit of rebound on these services. We think this will be strong going forward into next year. Very clear. Finally from my side, can you provide any more specific comments on the M&A pipeline development? I think it's pretty clear that you previously stated that you are able to cope with additional activity in the short term. How many sizable, let's say, plus SEK 150 million, relevant targets are there out there, and how many of them have you identified? We don't provide specific details on the pipeline, but we still see the pipeline as strong. We are working on a number of things continuously. As you can see in the Q4, we have done acquisitions, one of them being large, five small ones. We are above kind of average and on the Q4, but we are continuing to be active there and hope to be able to announce further acquisitions during this year. That's part of our strategy. Perfect. Thank you very much. Thank you. We have another question from Caroline Brønner, Jefferies. Please go ahead. Great. Thanks for taking my questions. Good morning, everyone. I've got three questions, if I can. The first of which is just relative to the Q We're looking at a very nice acceleration in the growth rates in the Q4. What do you think the main reason for the growth differential is between the two quarters? Secondly, if we just think about some of the forecast items, I think you said it takes about 12 months to get a payback on your growth investments. Does that mean we should expect a pro forma margin of about 36% for 2022, and for you to be able to make progress on that in 2023? Is that the right way to think about your comments? Just lastly, if we think about seasonality, you're against relatively tougher comps, I think, in H1 and maybe slightly easier comps in H2. Do we need to reflect that in our numbers? Or are you confident that ARR and revenue growth is gonna be above 10% in each of the quarters next year? Thank you. Yeah. If we look at the growth in the, again, it's the first time we report the organic numbers for the three segments where you see them. Again, they are really above the 10% mark. They were. We have been cruising above 10% also in the previous quarter. That's the momentum in the underlying business. It's not a massive change between Q3 and Q4, to be honest. I think we see a bit of pickup in the Q4 on some of the direct revenue and some slight positive effects that we are accelerating during the year. That's that point. If we look at the payback on the sales investment, again, that's coming in gradually over the 12-month period. We're training the sales force. In the first three months, it's mostly a cost, and then you start seeing the revenue coming in, both in subscriptions, but also some of them are selling direct products, so you will see a slightly quicker effect. But again, we are focused on driving growth rather than driving the margin on the short term. When we talk about 40%, that's the medium target, medium-term target. It will take some time to get the margin momentum up, and especially in the wide units where we need to invest to accelerate the growth. Please also be aware of that will be diluted by acquisitions. Is there a scenario where 2022 margins are lower than 36% as you continue to put investments into the business? We don't comment on the margin expectations for next year. Again, we have a 36% for both 2020 and 2021, so that's the level we're cruising at the moment. Okay, great. Just on the seasonality through the quarters in 2022? No, but again, we had a strong Q2, as you saw in the numbers on growth. Meeting that number will be slightly tougher than the rest of the quarters, where we had ARR growth around 10% in Q1, Q3, and Q4. Again, we have the momentum at the moment with 10% on a rolling 12 basis, and I don't see a reason why we shouldn't be able to keep that momentum going during next year. That's our financial target. Perfect. Thank you. Thank you. We have other questions. Ladies and gentlemen, just as a reminder, please press star one on your telephone keypad if you wish to ask a question. Next question comes from Peter Barry from Oyster Bank. Please go ahead. Peter Barry, your microphone is open. Please go ahead. Please verify that your microphone is open by your side as well. Okay. I will pass to the next question from Nick Dempsey from Barclays. Please go ahead, sir. Good morning, guys. I've got three questions. You mentioned that Glenigan's been growing at double-digit level in 2021. Did you mean for all of 2021, Glenigan achieved double-digit organic revenue growth? And then just as a sort of follow-up to that, was there any element of market bounce back in the U.K. supporting that? Or is that a kind of new sustainable level of momentum that you would hope to continue into 2022? Second question, you mentioned that you've got your first paying client in the Nordics for e-tendering. Can you talk about the pipeline there, whether selling e-tendering outside of the core markets is likely to be a relevant part of group organic growth in 2022? And the third question, You pointed to accelerating investments to support growth. You talked about perhaps a bit of a lag in terms of the benefit of that. Are we really talking about accelerating investment to still achieve the same kind of at least 10% organic revenue growth? Or could that acceleration of investment lead you to exceed that organic growth target? Otherwise, it's just kind of extra cost, right? No. Of course, Nick, if I look up when we talk about Glenigan, some double digits, we're talking about the full year of 2021, so that's December comparing to December or the full year of 2021 versus the full year of 2020. That's where the momentum Glenigan has now in December on full year growth. Market rebound, I don't think that's the case. It's more that some new sales is picking up, but also we see a good effect on the retention levels that we're retaining much more clients in Glenigan for this year than they did in before. I think the implementation of our customer success program has given effect. I think that's, of course, we can see. On top of that, all the new sales has been going slightly better than before. I mean, this is an internal thing that we have been speeding up pace. Yeah, the ambition is to grow Glenigan significantly. Now we also have CIS in Republic of Ireland, so we are active in that market also, and we can see some benefits between those two businesses that we can even further accelerate growth going forward in that part of the world. No, eTendering is a greenfield startup in the Nordics. We know that it will take some time to get, but it will be part of the growth journey in the future, even if what the expectations for 2022 is fairly limited so far. When it comes to the growth investment in Salesforce, and we are doing that to accelerate growth. As you said, the total group is delivering 10% on net sales and ARR at the moment. With the acquisitions, the ambition is to significantly accelerate, and we will of course aiming much higher than 10% in some of the units with the investment we're doing. That's how we drive long-term. We develop but also long-term growth in the business. We see market opportunities to clearly grow faster than 10% in many units. That's what we're trying to do. Okay. That's very clear. Thank you. Ladies and gentlemen, as a reminder, if you wish to ask a question by phone, please press zero one on your telephone keypad to enter the queue for the question and answer session. We have another question from Peter Barry from Oyster Bank. Please go ahead, sir. Mr. Barry, it seems that your microphone is closed by your side. Please verify that it's correctly open. Okay. It seems that Mr. Barry has some issues with his microphone. Just as a reminder, ladies and gentlemen, if you wish to ask a question, please press zero one on your telephone keypad to enter the queue for the question-and-answer session. It seems that we have no further questions for the moment, dear speakers. We're still online. Yes, we have no further questions, so please go ahead, speakers. Okay. That's all from us on our side. Thank you for taking the time to listen to us today. Hopefully we'll touch base soon. Thank you, everyone. Thank you.