Good morning, everyone, and welcome to our year-end and fourth quarter presentation. Before we start, I want to remind everyone that this call is being recorded and will be available on our website to watch later. With that, I hand over to our CEO, Matti Vikkula. Thank you very much, Heidi, and we are plainly pleased to have so many participating in this Q4 year-end report presentation session. And we are having here with myself presenting the outcome, our CFO, Anna Budzynski, as well. And our plan is to first describe some key milestones achieved last year, as well as to describe the market situation in overall in our home market, as well as here in Scandinavia. And then we describe and walk through the key performance indicators related to our financial performance and industrial performance Q4. And thereafter, we will discuss a way forward business plan, as well as our guidance. One of the key events last year was combining our brands into one consolidated brand, Biokraft, which has been very well received and is strengthening our identity, taking the company forward, and especially very well linked to the Bio-LNG focused growth strategy, as Biokraft is already very well known in Europe for Bio-LNG products. Aligned with that, the first growth-related event was when we were able to take over the additional capacity for Bio-LNG production in Skogn in Norway. It was a milestone in the beginning of the year. Very important project is the ongoing Mönsterås investment in Sweden. And as you can see, that in the beginning of the year, when we have just after the final investment decision, we started the groundworks, and now in December, we are already very far along in our investment execution according to our plan. And also, it was very important that during the autumn, we were able to start deliveries from our new Bio-LNG facility in the Stockholm region, in Södertörn. And it's an important part in our transformation, taking the company to the next level. So these were the key events from the group perspective, and then some key points, highlights from the market outlook. As we have already earlier confirmed and described, the com... The ambition from EU Commission and EU is to increase availability of biomethane from 30 TWh in 2023 to 350 TWh 2030. That is something which is very well aligned also with the ambitions of Biokraft. So we are clearly seeing a major opportunity, as earlier described, in this green transformation. Our order book and intake at the end of the year were very well aligned with our growth ambition, 2.1 TWh sold in our order book, and the supply side on level of 2.3 TWh. Worth noting that the order book, we are more or less, we have sold the capacity which we have for the forthcoming years, so any additional sales would be then for years in the future or related to potential new growth sites. Our growth pipeline, we have a couple of projects which are the key focus for additional growth and additional investments in the near future. The closest one is our project in Sweden, Skånes Fagerhult, and we are hoping and planning to start executing that project still this year. Perstorp in Sweden as well is then to follow in the near future as well. As earlier communicated, we also decided to focus on a couple of growth projects and growth opportunities in Germany. There is one for one of the projects, the environmental permit process is ongoing, and that is something which we see as a forthcoming investment opportunity aligned with the growth plan. Before handing over to Anna, some key points related to last year overall. As we communicated in the beginning of the year, the overall challenge with last year was that given our old agreements, our cost increase, I mean, the prices on intake, we were not able to fully compensate with the agreements, historical agreements we have had with the new prices for sales prices. Consequence being that there was a pressure for margins, and that pressure actually was during the year. It clearly the outcome was that it was tougher than expected. Some of the raw materials and the prices of raw materials increased more than anticipated. So overall, the year as such was demanding. Related to the markets, just to mention, in Sweden, in the beginning of last year, we received additional information on Landwärme case, which, the consequence of that was that in Sweden, there was an add-on tax on biogas. Luckily, it didn't have any immediate consequence for us in terms of costs, but it has a negative impact on the longer term demand development. So we are hoping that the ongoing process with EU, EU, will lead to a situation where there will be an acceptance for the tax withdrawal way forward. Remains to be seen. In Germany, the certificate prices were, during the first half, on a very high, a very good level, to some extent, even high level. They went down during the second half and have been now on that level, more or less, for several months. What is very important and positive is that the transformation which we have described earlier on, especially related to the offsite offtake site, we see concrete evidence on that in Q4, and the acceleration is really there. Especially now when we go to this year and the guidance, we see the concrete benefit of the price transformation in our sales agreements. So that is something which we are very pleased with. Overall, financially, as said, the last year was clearly a disappointment. It was... We knew that it was going to be tough, but the overall final outcome is clearly below our expectations. So this is the overall view, and then to go more in detail with Q4, I'll pass over to Anna to take the scene. Thank you, Matti. Yes, for the more, for the quarter review, we have a total increased revenues, but profitability-wise, we were weak. In Sweden, we had 25% higher sold energy, and the prices were 23% higher than comparison periods. And the subsidy received was SEK 9.4 million in Sweden, and due, the segment for Norway was a disappointment. We had lower sold energy than expected due to some challenges in the production process, since that we saw in Q3. At the end of the quarter, it was more stable, but the quarter as such was a disappointment. And the level of high, the COGS was still on a high level in the quarter, especially in Norway. Korea had a stable quarter, and also, the production was very stable. Here we see the margin levels. That was really disappointing. We had a negative margin for the quarter, as you can see here, and it, it has been a, a bit bumpy if you look at 2022 into 2023. The things that happened in 2022 was due to subsidy that didn't receive for some quarters. Just to have an explanation on why it's a bit bumpy here. So thank you. Cash-wise, we had SEK 295 million at the end of the quarter, and we had a significant increase from operating activities. Still, we made interest payments of SEK 76 million. Our working capital was improved by SEK 40 million. We had a high activity in investments for components of SEK 550 million, mainly due to the project in Mönsterås and our project in Södertörn, called Stockholm Bio-LNG in our quarterly report. We received investment grants of SEK 129 million for the quarter, and we did a withdrawal in our loan facility of SEK 150 million, and we still have SEK 150 million in that facility. So total cash at the end was SEK 295 million. If we do the financial position, as you know, we have almost SEK 240 million in financial leasing in our balance sheet, both assets and liability, but total available cash is SEK 500 million. Approximately 300 on the bank, and still SEK 150 million in our loan facility, and SEK 64 million in the bond that we have. We still have our own holdings there. So that's the total cash position. Very good, Anna. Thank you very much. Then we go to our growth plan and outlook, and key highlights. Our long-term targets, we have, we keep them unchanged. Target is to reach 3 TWh, 2030, 1.2 TWh, 2026. And even the longer-term financial targets, which we have had, which were established already or confirmed several years back, they are still valid. However, then for operating EBITDA margin, we will give a separate guidance for this year, and as communicated earlier on, the 30% level is a challenging level for this year. And we keep also our sustainability targets confirmed. The pipeline, the growth pipeline, and the status of projects, as mentioned, the Stockholm Bio-LNG is a project which has been commissioned or is under commissioning as we speak. We had some delays, some issues, especially, I mean, the technical supplier, we have not yet taken over the facility, thus, the volumes delivered were somewhat lower for LBG than we expected, but we are now expecting to be able to take over the facility in the near future. Mönsterås is in good progress, excellent progress in terms of the installments and executing the project investment at site. But then, as we describe here, we have a substantial issue, which is related to the availability of power. We have already a base power, but we need to have more capacity with the power connection, and the local supplier, the concession right owner, has such a huge demand from different players that they are in trouble assessing availability for installations. So that means that there is a risk for us that the project will be delayed by 6-12 months, and that is something which we are now, of course, actively working with, also with the operator, to find ways to assure that the facility can be commissioned as we have planned. There is a risk for the delay, and that is also the reason why our future outlook is defined for the existing businesses without the Mönsterås facility as such. Otherwise, I would like to flag for the project costs, the estimate per CapEx. For CapEx is still in the range, as we have defined earlier, in the range of SEK 4 million-SEK 6 million per gigawatt-hour, depending on what functionalities are needed at the site. Of course, now, given the higher inflation rate, there are some pressures for the CapEx as well, but the range as such still is relevant, as well as the EBITDA margin, which we see it's going to exceed the long-term target, 30%, for each of the project we are working with. So these are the key highlights for the pipeline. Related to the price transformation, this is something which is very, very important. We clearly see that the transformation is accelerating. So, when we published our Q3 report, we assumed that the share of new agreements or volumes based on new agreements for this year would be on a level of 50% plus. Now, we see that the level will be 60%+, which implies that we have been able to convert 10% of volumes to, based on the new agreements and new prices, which is very good for our business and really needed. And of course, then our Stockholm Bio-LNG facility is also accelerating this and making it possible that we can make this transition and execute it. And then the other is selling price for our biomethane, which is, I mean, in the order book, is on a level of SEK 1,400 per megawatt-hour, and this is now without potential production subsidies here in Sweden. Very important and very positive. Forward-looking statement, the market in Europe is strong. However, there is a very strong fragmentation in terms of pricing, depending on which market and country we are looking for. We are looking for systematic and continuous work with our operations to assure an improved robustness for the facilities and to be able to assure stability in a way which we have not yet achieved, and we see that the long-term group profitability 30% as EBITDA margin is something we remain firm with. Outlook, as mentioned, we see that given the new prices, more than 60% will be of our sales, will be based on the new volumes, and that even now, not only on annual level, but also from the Q1 onwards. We also see that the increased costs, especially related to chemicals, will probably remain on a pretty high level. However, then all combined, our estimate is that the operational EBITDA for our group, for 2024, will be on a level of SEK 90-120 million, and this is now excluding the Mönsterås project, given the fact that it's still unclear whether there will be a delay or not. And we also forecast that the profitability of based on operational EBITDA 2025, will be at least on the same level as 2024. As mentioned, the key, key driver for the Mönsterås timing is access to power, and how quickly the installation can be assured, given the limited capacity for the network operator. Some words on the key events after the period. The 1Vision Biogas was communicated already from their side in December, that they contemplate to do a public offer. On January twenty-ninth, they received the necessary permits from authorities, and were able to consolidate the ownership, which they have already had, jointly 55%. So this is something which in terms of the ownership structure of the company, they had already this ownership stake jointly before this consolidation, and this consolidation has now been taken, has been executed in late January, early February. Also, given this change of control procedure, we as a company, given our corporate bond, we have initiated a change of procedure, process, aiming to receive a waiver from the bondholders, not to use the put in the terms we have for the bond. And then, finally, on the second of February, 1Vision Biogas, they published the mandatory offer for our shares, on a level of SEK 26.5. We are currently, I mean, the board of directors, independent board of directors, is assessing the offer in cooperation with the fairness opinion service provider, and we will, in due course, announce the statement from the board related to this offer. I think that these were the key highlights from our quarterly report and annual review. So now feel free to make any questions, and we will then be available to answer. Any questions? Do you see, Heidi, any questions on your screen? No, no questions. No questions yet? We wait for a while still. We have a comprehensive audience participating, which is very nice. Thank you for your, for the participation. If there aren't any additional questions... No, there aren't any questions at this point of time. So then, thank you very much for participating, and we wish you a very nice day. Thank you very much.
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