Good morning, welcome to our presentation for our Q2 results period ending the end of December 2020. My name is Gustave Geisendorf, and I'm the CEO of Zutec. Our agenda for this morning is to review Zutec, our story, a brief introduction to Zutec, followed by a review of our Q2 results, and then we'll finish with a Q&A. The first section of this presentation is a brief recap and a summary of Zutec. I've received questions from many of you about Zutec, and I thought I would take a moment to briefly review Zutec, what we sell, what market we operate in, and why I think Zutec is an interesting company. What is Zutec? Zutec has been in operation for more than 20 years, and we're operating in an attractive SaaS market niche. We have sales of around SEK 33 million and a very strong momentum in the last few quarters. Our vision is of being a disruptive software company by operating in one of the least digitized sectors in the world. The market we're operating in is in the construction market exclusively, and we sell construction management software. The underlying and addressable construction management software market is around $1.4 billion a year and growing at around 13% annually, driven by a number of macro trends. Probably the most important one being that the increased IT spend that is going on into the IT budgets of construction companies is driving our growth, and that has really enhanced now as part of COVID. Our market share is still quite small. We're primarily focused on four markets. That's the U.K., which is our biggest market, followed by Ireland, Australia, and we recently opened an office in Abu Dhabi in the Middle East. As I mentioned earlier, we target the construction sector, and the construction phase is primarily split into four different distinct phases. The first one is design, the second is pre-construction, and the third one is construction, and the last one is operations, where the contractor hands back the project to the owner. What Zutec does is that we're only involved in the construction phase of a project, where we sell a software doing project management, field collaboration, which is based on what happens on the field and then the quality documentation. As you look at how the software market breaks down, about three quarters of the spend going into software is spent by contractors and developers, and that accounts for about three quarters of the market, and that is where Zutec is focused. What is it that we do? As some of you may know, a construction project can be quite complex, and it consists of a lot of different stakeholders, and it also consists of a lot of different documentation. That documentation can take a lot of different shapes and forms. It can be anything from drawings. It can be documentation and manuals. That information, as you can see on this page seven on the left, gets shared and authored by different stakeholders in a construction project. All of that goes into one centralized hub where all the stakeholders can use the information in their various streams in a construction project. In Zutec's case, the platform that I just was mentioning to, or the hub, is what we call Zutec Cloud. In addition to Zutec Cloud, we also have Zutec Field, Zutec Analytics, and Zutec BIM. All of those apps feed into Zutec Cloud as one centralized platform. What is it that the app then does? We have three primary apps. The first one is Cloud, as I mentioned before, which is the centralized hub. That's primarily used by contractors, developers, home builders and subcontractors. We have Field, which is our primary mobile tool, which is used by contractors and subcontractors on the construction site. We have Zutec BIM, which comes both as a web app as well as a mobile app, and that is, as I mentioned on Field, it's a similar version to Field, but it primarily deals with BIM or 3D drawings. Again, that's primarily used by site teams when they build a project on-site. Zutec Analytics is a powerful analytics platform that is as a web app, primarily used by the office that is used to analyze and make decision in real time based on all the information that has been put onto the system by all these various stakeholders. The key USPs for Zutec and why contractors and developers use our platform, that it's an integrated platform. You only need one system, and that is Zutec for all your stakeholders on a construction project. All the data is live. The system that we provide has been built for construction. That means that the platform has been built in such a way that we know we can cater to the needs for our customers. All the data is secure. Within Zutec, we think it's equally important based on that overall the construction industry has not been fully digitized. It's right in the midst of the digitization that understanding our customers' needs and demands is equally important to the product. We've been in this market for a very long time. Our team has more than 150 years of understanding digitization in the construction space, which is a key factor as we're engaging with our customers. Our growth over the past few quarters has been very strong and the momentum is strong. In particular, during the past three quarters, we've had growth, in particular over the past two quarters, closer to 50%. In March of 2020 was a bit of a slow quarter for us as we were just entering the COVID phase, and since then, the growth has really taken off. The average growth that we had over the past six quarter has been 40%, and as you can see, the growth has accelerated now over the past few quarters. Zutec is a fast-growing company, and we're enjoying some of the macro trends that I mentioned in one of the previous slides. Our growth strategy is built around four pillars. The first one is to focus on our home markets, which is the U.K., Ireland, Australia, and the Middle East, in particular the UAE and Saudi Arabia. The second growth pillar is to enter geographic markets. The third one is sub-vertical expansion, and the last one is M&A. Our primary focus up to now has been to increase our market share in our home markets, and that remains our most important growth pillar, where I think in the short term, most of our growth is going to come from. That is about, in particular, getting new customers and increasing our customer workflows. Secondly, we have a defined strategy of increasing our recurring revenues. We do indeed have a large number of existing customers, and it's important for us that they are satisfied and that we're reducing churn rates and improving customer retention. When it comes to geographic markets, our short-term focus is to focus on home markets. We're selectively exploring going into new geographic markets, and we're primarily exploring that through resellers, and we're having one project in Italy going on now with a partner there to enter the Italian market. We're also looking at ways to do sub-vertical expansion. That sub-vertical expansion is not going to be outside of construction. That's going to be within construction, and that's going to be about tapping into some of the other phases in the construction segment, as I mentioned before, but still primarily focused on the construction segment of the construction market. Lastly, which is a renewed focus of the company, is to select a look at M&A. That M&A strategy is, again, to increase our market shares in our home markets, we're looking at targets that can provide technology, market access in terms of segments within our markets where we're currently not operating in, then also customer access. Ideally, when we're looking at M&A, a target should tick all of these three boxes. In addition to that, we're being very disciplined on how we're approaching these processes, both in terms of time and risk of being involved in M&A process, as well as the price we ultimately end up paying. In terms of our investment highlights, our market is very big. Our addressable market is big, construction is the least digitized industry in the world. The market is going through a lot of change and rapidly growing. As I mentioned before, the growth in the market is about 13%. In terms of Zutec, we have over the past few quarters built a scalable business model with the intention of accelerating the growth we've already seen over the past few quarters. We believe that we can do that by having high customer satisfaction and stickiness to revenues, and we believe that this growth will continue. We intend on outpacing the market growth, which as I mentioned before, is 13%, and we'll be doing that by not only capturing market share from the larger construction software companies, but also by tapping into unpenetrated areas within the market. As I mentioned before, we also have a defined M&A strategy for incremental growth on top of our organic growth plan. That summarized the first section of our presentation, and I'd now like to turn into the results presentation for the last quarter. The results for this last quarter, we recorded sales of SEK 9.2 million. Our EBITDA was SEK 1.1 million once you adjust for FX translation, and our FX translation has only to do with the fact that we're having intercompany debt between our Swedish and our Irish holding companies. We had a net loss of SEK 3.9 million. We had cash outflow from operating activities of SEK 2.6 million. That outflow in operating activities had primarily to do with a temporary swing in working capital due to payroll taxes in Ireland. Lastly, we completed a rights issue in June of 2020 with net proceeds of around SEK 30 million. We have very much stabilized and actually built our cash position, which is now almost SEK 37 million. In terms of our revenues and our sales, our strategy is very much on growing Zutec and capturing market share. In this last quarter, we had growth of 48.5%, 54% when you apply a constant currency. The rolling 12 months sales reach 33 million SEK. I think this overall growth that we've been seeing is very encouraging, and we're seeing that our pipeline is building this last quarter. We signed more than 50 new agreements. We have in the hundreds of customers live on our platform, and we see that growing every day. Perhaps most important is that we're seeing happy customers, and we're seeing recurring customers. That's going to be the recipe for long-term success. It's not about the customers that we win today, it's about the customers that we keep, and that's going to be a very important focus as the journey with Zutec continues over the next few quarters and years. Not only is revenue going up, it's also going up in a right way. Our recurring revenues are increasing. Our agreements with customers are longer. It's also encouraging to see that the sales velocity, so that's how long a deal sits in our sales pipeline, is going down. Before, we used to have sales velocity, i.e., the length of the time it takes to secure a contract of sometimes up to nine months, on average, around seven and a half months. Now we're seeing deals being done in less than two months, that's also for some of the more complex deals. That has partially to do with how we go to market within Zutec. Equally important has to do with that now we believe that our customers are fully ready to digitize. There's less of a barrier of entry in terms of customer interaction, and we're seeing our interactions with customers connecting much quicker. In terms of our cost base, we continue to be very focused on our cost and managing our cost. Our personnel costs were just under SEK 6 million in this last quarter. We're now about 26 people, probably going to be about 30 by the end of this quarter. The way we work with both our personnel costs and also our other external costs will continue to be tightly managed. As we look into the future, we're gearing up for more growth. We've hired more salespeople in each of U.K., Middle East, and in Ireland. In the next quarter and the next few quarters, we'll be making a push into marketing, and we'll hire a marketing team with the intention of building the Zutec brand and also driving leads to drive sales in turn. We'll also dedicate further resources into hiring into our development department as we're innovating further together with our customers. Our other external costs, which includes service, overheads, and marketing, have now stabilized just below SEK 3 million. This number we expect to be going up over the next few quarters as we're making bigger investments into marketing. In order to wrap things up, we had a very strong quarter. It was higher than our expectations, and we also do believe that the future looks very encouraging. We had sales growth of 48.5%. On a constant currency basis, we grew 54% in this last quarter. We were profitable with EBITDA margin of just over 11%. We signed more than 50 new agreements, which is the highest number of agreements we've ever signed in a quarter within Zutec. We have had a number of new customer wins with leading contracts and developers, and we're happy to see that the number of customers that we do decide to work within Zutec and decide to come to Zutec are really top-tier contractors and developers in each of our home markets, such as Roberts Pizzarotti in Australia, Tyse and ISG in the U.K. We continue making investments in our sales team, and as I mentioned earlier, we'll also make investments in our marketing team going forwards. We're very focused on innovation, and that's something that we will continue to be very focused on as we further penetrate in the market together with our customer. This last quarter, in collaboration with our customer, we made some very interesting and innovative additions to our field app. Lastly, we're also involved in a pilot project with one project around sustainability. Sustainability is a big focus for Zutec because the construction industry keeps on being the largest contributor to climate change globally. We do believe indeed our system is well-equipped to track and manage those processes. That was the end of my presentation, and I'd now like to hand it over to the audience. If you have any questions, you can raise your hand on the bar below or send me a Q&A through the Q&A section. Again, if anyone has any questions, raise your hand on the toolbar or send a question through Q&A. I got a question from one of the participants about how much of the total revenues are recurring. The overall recurring revenues are growing. At this time, it's about three-quarters of our revenues that are recurring, and that's growing quickly. If you're looking at, in particular, our new contracts, that number is even higher. It's about 85%. As we're engaging with customers, we're very focused on making sure that the revenues are recurring. What we're focused on primarily is to sign three-year contracts at least. Obviously in that contract period, they are recurring based on that they're non-break contracts. What we've seen happening in all instances is that by the time a customer comes up to the end of that three-year period, there is so much data and information onto our platform, that the renewal rates are incredibly high. Our renewal rates are, at this stage, it's way in excess of 95%. That's the focus on when we're building our, in particular, new contracts. We're still managing an old contract book that may not have exactly the same profile. The way we define recurring revenues is a revenue that is recurred over the entirety of the contract length. It's not a revenue that only occurs in one quarter or in two quarters. It's something that recurs over the full contract length. It appears there are no other questions. There was one more question coming in through Q&A, which is split between projects and enterprise contracts. When we look at revenues here and now, the split between projects and enterprise in terms of revenues is in and around. Let me just get that number actually for you. In terms of the current revenues, it's about 50/50. When you look at our contract book, so that's secured and contracted revenues, the enterprise contracts are the vast majority. We've been focused on reshaping our business model, which is to go from projects to enterprise contracts. The average duration of a project up until the recent past was in and about 14-15 months. The average duration we're seeing now in our portfolio is steadily growing, and it's in excess of 24 months. We're making other adjustments to our business model, both in terms of how we're approaching projects and also how we're approaching enterprise contracts. Enterprise contracts are, in all instances, at least three years. We have some enterprise contracts that are five years, and as I mentioned before, they almost always renew. When it comes to projects, we've done some changes to how we approach projects as well. The project contracts, as I mentioned, has gone from being in and around 14-16 months now to being substantially longer. The reason for that is that we're engaged earlier in the construction phase. We also make sure that we host the data at the end of a project. Most of the new project-based business we're engaged in is no less than three years. Sometimes it's up to seven years. Got a new question here. "Split on investment in development in product versus sales." I assume this question has to do with CapEx. Yeah. The question reads, "Split on investment in development in product versus i.e. sales." I guess investment in development versus sales. Almost all investments that we're doing in our product is done in conjunction or in collaboration with our customers. We do that in a way that we develop together or clearly with an understanding of what our customers want. At the end of the day, our approach to development has to do with catering our customers' needs and demands. Certainly less to do with what we believe in Zutec is what our customers need. Rather than second-guessing them, we always have a collaborative development approach with our customers, and we engage with our customers in forming working group and actually engage them in the development process as well. We very rarely do development on behalf of a particular customer for a particular project. We certainly do it in one or two instances, but it's not something that we seek to do. What we're trying to do is to develop a product that is available and applicable for the mass market, not a product or a special feature that only applies to one project. Any other questions? Submit that through Q&A, or please feel free to raise your hand as well. Well, thank you so much for this morning. Appreciate your time, and I'll look forward to talking to you again when we release our results again in April. Thank you so much, and have a nice day.