Då så! Ja. Hello, most welcome to our Investor Day today, a day that we've been looking very forward to. My name is Maria Korsman. I am the new Chair of Careium. With me today, I have our new CEO, Christian Walén, our CFO, Mathias Carlsson, who has been with the company a number of years, very well respected as well. As you might know, we have a slightly new board. There are four of us, a very strong board. Small, a very strong board. We have Kai Tavakka, representing our largest shareholder. We have Stefan Berg, with a solid technology background coming from Transcom. Cecilia Örtstöm, with a very strong financial background, and me as a Chair. The sole purpose of today's meeting is to present our journey, our company, and our ambitions. Really, the most important part is to have a dialogue with you, to really inspire you and get inspired by you. Welcome. Yeah. Welcome. Yeah. We have started. We have started the presentation, so please close the door. Thank you very much. Thank you. Thank you very much. We have a few more of our colleagues in the room as well. Before handing over to Christian, to present our company, I thought I would say a few words to you about my own background. I have a true international background, both private, with three continents behind me, and business-wise, where I have done actually business in most of the countries in the world. The past 23 years, I worked as CEO in different companies. The common denominator in the companies that I worked for are technology, innovation, and human capital, people. Companies such as Ericsson Bluetooth, technology, Dell Corporation, financial market, RISE, which is the largest technical institute in Sweden, and of course, SOS Alarm. I have been interim CEO as well at Careium. It was fall 2022, when I was asked to join the company as interim CEO. My task was to do a turnaround. You know, we had such a short time. We did that. The turnaround that we did, it is we who did that, the very much the whole management team, the whole company, and me as a part of it. We are very proud of that journey. None of the actions that we've taken were short term. All of them were long term, to ensure that Careium is stable and steady as a company, and we are, now taking the next step with our management team and the whole company, which we are very proud of. That's why it's so important to gather all of you today, to get inspired by you and to manage to hopefully inspire you. I've had several board assignments as well, and I'm so proud to have been elected as a chair of Careium. We all are gonna promise you to do our very best the whole time in order to drive a successful journey, continue driving it for Careium. By these words, I'm gonna hand over to Christian. After Christian and Mathias Carlsson presentation, we will host a question and answer session. Please. Thank you, Maria, and thank you for a very nice introduction. Hello, everyone. My name is Christian Walén, new CEO as of March this year. I have been on the board, serving there since April of 2022, so I actually knew the company somewhat before stepping into the role. I am absolutely delighted that we have this opportunity to create a different level of transparency and interaction, much to Maria's point, with the people that are part of the interest sphere around Careium, our shareholders. With that, I would like to take you through a shorter presentation that hopefully enables you to understand us a bit better. As you all know, we are bound by MAR rules and similar, so we will only be able to address the first quarter and our past history of financials and so on, and please keep that in mind for the questions for later. With that said, we'd really like you to understand what we do and what we're all about. Hopefully, you will come out of this session feeling a lot more enlightened and a lot more engaged and interesting, but what I think is one of the most fantastic companies that you can find across Europe. Why do I say that? Well, I say it because we are in an era of tremendous change. Our world, on a daily basis, with climate, with geopolitics, with a lot of other factors, it's constantly changing. Some of these changes are positive, but a lot of them pose big challenges to individuals and society. These are not also evenly distributed across our world. Some of them impact the West, some of them impact the East, some the North, some the South. Out of all these challenges, there is one universal that is the same for all of us, and that is the fact that we will get old. Some of us might not think it, but it will happen eventually. If we look into what actually happens for individuals and societies as we get older, we actually face one of the biggest challenges, in particular to the West. Based on what we know, by 2060, 1/3 of the European population will be above the age of 75. What is equally challenging with this, is that the dependency ratio, if you turn that number around, the number of people who are of working age, the people who are to care for these individuals, should they need it's 2 to 1. Currently, it's 1 to 4. 2060, to some of you, it might sound like, well, that's a long time out. Well, there are a number of regions in Spain that are already approaching this and will be hitting this mark come 2030 or so, give or take a few years. In addition, if we look at the Swedish data, we know that a lot of the cost going into the healthcare system, burdening society, it's for our seniors. While they consume more than 50% of primary care budgets in Sweden alone, there's another one stepping in. Warm welcome. We're rolling, so please sit down. We know that if we're able to treat and care for people in their home environments, the cost goes down dramatically versus doing it in residential care, where we see an increase of four times the cost, or in hospitals, where the cost is eightfold. In addition, even in Europe, where a lot of maybe the Southern or Latin countries, it's easy to think that families are sort of part of these big cultural systems that care and tender for one another. The fact is that a large portion of seniors actually live alone, and this puts them at quite a substantial risk because this is where things might go wrong for them. Aside from climate, geopolitics, aging, the aging population, and the challenges that it imposes, it's one of the biggest challenges to Western society. This is what Careium is all about. Careium, with its long history of understanding how innovative technology-based solutions can support this population, this is why we exist, to ensure that millions of people over Europe are able to live rich, safe, and active lives. Massive benefits to the individual, massive benefits to society. This is sort of the point of Careium. Our story, it actually starts in 2013, when Doro, the manufacturer of mobile phones for the senior population, realized that there would be a lot of competitive pressure with the big technology giants moving into this space. A decision was made to look at what other services, what other technologies are relevant to this target market. That started out as a business area called Doro Care, one that was heavily invested in. Quite quickly, the company was boosted by acquisitions in Sweden. A quick analysis showed that the U.K. was actually one of the most relevant markets to be in for what is now known as Technology-Enabled Care. Following that series of acquisitions, it was evident that you needed a strong software component to be able to compete and, you know, really create the technological prerequisites to deliver great services. More acquisitions were made. The Netherlands, also a very, very strong market. At the same time as this acquisition activity was happening, we also set up operations in Germany and in Norway and really tried to form a conglomerate of really strong players within this industry. Late 2021 here, it was decided from the board of Doro that it was perhaps not the best setup for the different entities, whereas attention and focus should probably serve the care division better as a standalone entity, and thereby a split was made in a separate listing of what is now known as Careium. In many ways, this also encapsulates what we are. We are a high-growth business committed to excellence in Technology-Enabled Care for seniors, and we do this in a landscape in Europe that is highly fragmented, with lots of different players, lots of different business models based on different markets. We do believe that we have a really strong position to grow in a profitable manner in this space. It is quite an attractive space. As you all know, the demographics are changing. We get more and more people who are at an advanced age. When you ask the analyst, you will find that they expect this to be around a EUR 7 billion market by 2027, and the Compounded Annual Growth Rate is about 12%. Fundamentally, it's a quite attractive industry. Also important, given that the tough times that a lot of companies now face, including us, of course, is that a lot of this is related with business-to-government, which obviously creates quite safe customer relationships that last for many years. Volatility is more managed by that. We like to believe that we are a very, very strong platform for growing within this market. We base that on the fact that we service around 400,000 end users as it stands across all of our markets. If you think of this is us taking the full responsibility for services and monitoring, and being really close to these individuals in their everyday lives. If you factor in how many people are impacted by the use of our products or relying on the technology that we don't manage or actively work with, but rather just supply to others, this number obviously doubles or quadruples. We've also enjoyed, since 2016, a quite strong growth rate of around 20%. Very happy about that. Obviously, also fueled by these acquisitions, but, nevertheless, given the market development, it's good. We are looking forward to just in 2030, we will have 128 million senior people over 65 in Europe. Of course, this follows the larger markets, Germany, France, UK, where we have rich population density and sort of big volumes of people. We are actually in the right spaces. In Sweden, in the UK, and in Norway, and also Holland, we enjoy between 15% and 40% market share. This is where we're really strong. We also have a presence in Germany, and France, and Spain, which are obviously some of the most key markets across Europe. What is interesting also is that all of these markets, they contribute with something because they're different in how they're structured. From the Nordics, which is our home base, we've learned that we're forced to be digital because we're very advanced in that area. Whereas in countries like Spain, for example, we are pressured much more into providing innovative technological services and more proactive services, which also translates into a better offering across Europe. One of the key factors here influencing this industry is the fact that a lot of the equipment that is currently out there and the way services are set up, they are based on analog infrastructure, and that is rapidly being closed down all over Europe. The UK, for example, where this is most evident, they have an end date for their analog infrastructure on the 21st of December 2024. British Telecom will pull the plug on that. Obviously, this creates a massive push and growth for the digital solutions, which are not as common in the other countries as of yet in terms of penetration rates. This is very good for us since 70% of our entire portfolio is digital-first. It was built to be on, you know, more advanced networks and services. The things that we retain is solely to be able to compete in these markets where this is not so much an issue. Last but not least, there's definitely competition out there, but we're very proud to be one of the three companies that can truly offer end-to-end services and do so in some of our markets, and that includes the hardware, the software, and the services. Most actors in this space, they focus on one or two, and three of us, we actually own the majority of the sort of customer journey. This is what I think is important to understand about Careium, to get a little bit more detailed about what we actually talk about when we talk about these things, and also how that translates into different business models, which are quite market-driven. When we talk about hardware, we talk about the social alarms and the stationary alarms and the associated triggers. Essentially, the technology that allows people to connect, to send a signal, and to be in contact with someone to solve whatever issue they are facing. Here, we also have the peripheral solutions, and that means just about everything that can be integrated on these platforms. It can be things like a mat sitting under the bed to know whether the person is constantly going up and down in the night. A lot of this data is what, you know, is probably the future of predictive care. We're very happy to own the nexus of all of this, the base stations, where all the data is gathered and where all the peripherals are connected. That is sort of our standard offering, that we're always able to do this. When we talk about hardware, we talk about our own proprietary hardware, where we focus on these core hubs, if you will, and the most used peripherals, and then we're able to integrate with whatever is relevant to our customers. When we talk about software, we talk about what is it that enables us to take action around a trigger, an alarm, a situation. This is the responder and relatives apps, where you can involve people in the care circle around an individual to assist and support in various ways. You can either reach out to ambulance or other healthcare services of acute nature to support individuals. There's also the IoT backend, which is the foundation of connecting all these different pieces of technology to create something truly spectacular around how we can understand an individual's situation and support them in the best way. Last but not least, it's the sort of software service solutions, which are the fundamental platforms on which you do the active monitoring and alarm response center work. The services, installation, that type of services, also very important to get everything rigged within the individual's home or in the assisted living scenario. The Alarm Receiving Centres, which are basically the hubs where all the alarms come in, to run those, the monitoring centers and so on, which is quite a complex activity. It's a big call center don't care. For some of our markets, we also do responder services. That means that we, you know, have the cars ready to go out and support the individuals, even almost resembling ambulances in Norway, for example. Last but not least, we also have the digital solutions, which is something that services relevant mobilizing support or being able to connect to certain services without human intervention, without the alarm sound. When we talk about these three fundamental pieces of the offering, this is what gets channeled into three different business models. The reason for us having three different business models active at the same time, it's very simple. This is what our current markets demand, and this is also where the opportunities are. All of our markets are structured slightly differently. As you can see here in the business-to-business segment, what this means is essentially that these are markets where insurance companies, welfare organizations, healthcare organizations, they have the mandate and responsibility for caring for seniors. That means that we are primarily a partner for them in supplying hardware and software. We might not do any of these services related to an alarm response center, for example. In Germany, you would find that there are basically no private entities doing the alarm center work. This is all nonprofit charity organizations like the Red Cross or the Johanniter. We are a technology player and a partner to them. The biggest one, obviously, is the public system. Super strong in the UK, super strong in Sweden and Norway, where our customer is essentially the commissioner or municipality or, you know, based on whatever etiquette you use. This is traditional sort of tender-driven sales, where you do the pre-tender work, you will work with the customer, hopefully you win, and then you have a commitment for a number of years going forward together. Last but not least, there is also a fairly substantial private pay market, primarily in the Netherlands and the UK, but this is also found in France, but we are not an active part in that for now. What's interesting about this is that the offering is either the same or it features components of it that are quite easy to decouple. This gives us a flexibility to be in a market and be a strong player on two of these legs, where the third one is not asked for. In addition, we also have a quite interesting sort of volume versus margin profile. The public system, the volumes are obviously larger, but margins might be lower. In the business-to-business scenario, compared to the public side, volumes are obviously smaller, but margins are improved. Last but not least, in the private pay segment, the volumes are the smallest, but the margins are also the highest. When we talk about product mix, it's not just about what type of products that we managed to sell X amount of, it's also towards which of these business segments. I think this is very important to know when you look at Careium, that we are not just a public system player. We use our offering, and we're able to be flexible around it to compete in whichever way the market asks us to, where we think we can be successful. This is very idiosyncratic, very country by country, but we do feel that we have a pretty firm grip on where we stand in the markets we're in, obviously limiting ourselves to the European perspective. If we look at the performance of the business, I think to Maria's point regarding a turnaround, this is pretty much where we've been, and everyone who's looked through the quarterly reports for last year would agree. That we are now in a position where, based on our first quarter, if you compare it to last year, we were up in sales almost 9%, 8.7%. More importantly, our EBIT levels are markedly improved. This is something that we're very proud of, and of course, a result of a lot of good thinking, a lot of good action. Cash flow, very much a focus for us as much as anyone, as we do know we have a lot of acquisitions and thereby some debt that we need to service. This is very important for us going forward. We manage and work with this very, very consistently. However, it's also important to understand that when you do business in a way where you get the products in and then you deliver them to the customer, sometimes on a subscription system, then you will have a situation where cash flow is somewhat challenging at times. Those of you that saw the Q4 report, for example, would notice that the cash flow was quite negative, but for the right reasons, so to speak. If we look at the share price, maybe not so much for me to comment on, but over the last four quarters, we'd argue that we're in a sort of recovery scenario, and the important piece for us is obviously to perform well and consistent over a number of quarters to show the market that you can trust Careium as a business. With that, and to also introduce Mathias, I'd like you to comment a little bit on our financial position and so forth. Thank you, Christian. I am the CFO of Careium since the spin-off, before that, I was at Doro for a number of years, being the group controller. I've been on all this journey that Christian showed because I started in 2015 at Doro. Careium is something that I have a lot of experience about. When we look at the financial position and the cash flow, as you know, it was a struggle during 2022. We broke a bank covenant in Q3, have had a bank waiver. We have done a lot of improvements in 2022. It costed a lot of money to do the improvements, of course, that also showed in the core result that we did during the first three quarters. We also see that the measures that were taken had effect, both in the Q4 of 2022 and in the first quarter of 2023, we have shown we are back on track. We are not yet at the position, which is optimal, of course. We want to be more profitable and have a strong cash flow going forward, we'll have a stable foundation at the moment. All right. Thank you, Mathias Carlsson. Any questions, of course, Mathias Carlsson will be able to answer them later. Yeah. Aside from the financial position, I think it's important in the spirit of this, connecting and having the dialogue and also being transparent, we are not without our challenges, of course. I'd argue that there are three that are the most prominent ones for how we run our business going forward. The first one is obviously the fact that we are a result of numerous acquisitions over a period of time, I would argue that we're in the midst of still integrating this. Where we're getting to is a fully integrated entity, where we are truly a European company, all systems, all processes aligned. A challenging journey, but one that is absolutely essential for value creation. Just to put some color to this, the U.K. business, which is now being rolled up into one entity, currently consists of five entities. If you know UK tax law and bureaucracy, you understand that it's a major headache. We're sorting that one out. This is one of the things that we need to do and are working hard on. Obviously, there is new technology and price pressure in our markets. We do think that we are competing really well. Even through these challenges in relation to the turnaround, we've kept a strong focus on investment in technology. We are doing proper cost downs for our products to be even more competitive. We also have some really interesting product launches this fall. We truly believe that we are on the track of really being at an innovative leadership position in the European landscape. Even if some of our competitors are quite strong and large in scale, we don't really see them as being technologically advanced. I think that to some extent also has to do that we have a very Nordic core, and we rely on the fact that we are much more digital in our thinking, as opposed to Spain or the UK, for example, which is a major edge for us. Last but not least, as Mathias mentioned, I think we've had challenges to performance in relation to financial steering and control. I think anyone who looks at us as a case would argue that this seems to have been some issues in terms of how the company has been running. We are extremely clear on our targets. We're doing structural changes. Either they're completed or they're happening as we speak, to get ourselves into a much more solid foundation that is more worthy of the opportunity that our company is set up to tackle. I'm really happy that we're able to work with this and turn it into advantages also, because we know that a lot of our competitors, they have been on similar journeys, and they have similar problems, and they seemingly have not been able to manage them very well either. With that, and before going into a Q&A, that I really hope you take the opportunity to participate in. In summary, I think we can conclude that we have really strong macro tailwinds for us as a business with the growing population, the need to use technology to drive down costs, and also the value of taking care of this in the near future, a very loud group of people that will need to see their needs met. We're a very strong platform for profitable growth with a flexible business model that allows us to compete in different markets. Last but not least, we are fundamentally a business that the more we grow and the better we do, the more we improve the lives of individuals and societies. I think this is a key element to being a relevant business today. It's also hugely important for us to attract really strong talent because this is where people want to work. With that, of course, all the disclaimers regarding everything I said that you need to put in these types of situations. I would like to welcome Maria back on stage and Mathias also, to check in with your questions. Make sure to use the chat feed to post them, and Mathias will do his best to try and figure which ones are maybe complimentary or relevant to bring up. Thank you very much. Thank you for the really good presentation- Thank you. if I can say so. To you as well, Mathias. What I suggest that we start with, or the questions, or reflections, or just thoughts that you have from all of you who are connected through Teams. We take all of those, and we can reflect with you, and then, I come back to everyone that we have in the conference room. Either use chat function or just talk to us, please. I'm open for questions, and thoughts, and reflections. Just a comment. Before you start asking questions, yeah, I just want to point out that we are recording this session. Yes. You know that. Your question will be recorded. Thank you very much. Thanks. Any thoughts or reflections from all of you who are on Teams? Anything on the chat? Let's see. I have a question here: "Can you talk more about your position in your main markets, Sweden, Norway, Netherlands, and UK, competition, trends, et cetera? Sure. Maybe one for me to answer? Yes, of course. It's a very broad question. Thank you. Not that easy. I think, if we look at our position, we are obviously a key player in the industry in both Sweden and Norway. We're very strong in terms of market size there. UK, we are substantial, a player. It's also a much more crowded market. It's also a sort of very different market conditions. If you take Sweden, you will see that what is asked of us is strong digitization, but maybe quite basic in terms of the offering that is asked. In Norway, it's much more advanced. In many ways, I'd argue we sometimes resemble an ambulance service in conjunction with the work we do in the alarm response center. They're putting much more of a requirement on us to actually deliver in different forms. The UK is somewhere in between, but what the UK does is that it asks players like us to be more innovative. They have really strong governing bodies regarding Technology-Enabled Care, and a lot of the push to innovate comes from these bodies and the customers who are sort of interested in these new ways of trying to provide a better service. The markets are somewhat different. However, I think the competitive landscape is fairly similar. You have the same competitors in these markets that either struggle or are these sort of big, large-scale players that can provide everything end-to-end. You have these niche players who might do one or two things. What we see strategically from most of our competition is that you either zero in on one of these pillars, the hardware, the software, or the services, and that's all you do. That's the most normal case. There are also some who have taken a fairly, perhaps untried position where they try to source all these components but just be the integrator. We're sticking fairly harshly to our idea of being an end-to-end partner, 'cause that's what we see customers wanting. They don't want a third party doing installation, someone else doing the alarm receiving center, and then acquiring the hardware from somewhere else. While this technology is not super advanced on a, you know, quantum computing level, it's not that easy either. It's quite nice to have one partner that can tend to all of these things. I mean, competitive pressure is there. This is an attractive market that is set to grow, that is, you know, able to produce decent returns. We feel we're in a very good position across all of this. As we flagged in reports earlier, operational issues in the UK, we're working very hard to solve those, making good headway. As Mathias Carlsson said, we're not happy where we are. We think we can do a lot better as a company, but that's what we work with every day. The only addition that I can make to, for Christian, this answer to your thought is, in all of the markets that we are in, and even other markets, we see growth potential, and we, of course, are there to take it. There is growth potential in all of them. With our experience, we are confident that we can take them. Any other ones? Not yet. See. If there are any other thoughts or reflections from you on Teams? Let's see. I have a- Yes ... question here. "Can you talk more about your software source offering? Yeah, absolutely. I'd be happy to. Which markets are you targeting? Yeah. I just came in late last night from Madrid, where we have our software development implemented and spending a few days there, meeting our customers also, or rather, the dialogues that we've had. To understand this topic a bit more, and for some of you might also think that, oh, why are you capitalizing a lot of cost in development and so on? Where does that go? Well, a lot of it goes into our software offerings. Why? Well, because these are the core platforms that connect the hardware, the digital services around them, and back to the alarm center. There are very, very few players that provide these platforms. For us, we're gradually moving into and having long dialogues with customers regarding how can you transition into our product portfolio or our software offering, or a combination of both. What it does is essentially to allow us to live within our own technology, which, of course, isn't free in terms of development, but there is also substantial cost sitting on to third-party solutions, which we want to shift out of. We do believe that we are somewhere between three to five years ahead of the curve in terms of functionality, setup, and the fact that this majority of this industry is quite legacy-oriented. You are basically slowly building on old platforms that have been around for a long time. We are challenging that. The conversations I'm having in this case, Spain, you know, there's a great interest in what we are putting on the table. The interesting thing, I think, is that countries outside of the Nordics, they seem more positive regarding our platforms than maybe the Nordics do, because the requirements are very different. Again, going back to market differences. I'd wager that we will have a lot more success out on the market outside of the Nordics, where in the Nordics, it will just allows us to be a much better operation that based on owning our own technology. Of course, have software development in other places, I might as well. Oh, of course. Of course, we do. That's the sort of core, and that's following the acquisition in 2020 of the big Victrix business. I mean, everything is moving to a strong software component. This is where the big value will come, so we need to control that end-to-end. Otherwise, we cannot innovate, we cannot build really smart services, and we can't give great customer value. That's just not possible if you're on someone else's platform. Thank you very much. Any other thoughts? Maybe, which customers or no, can customers buy the SaaS solution separately, or is always be with the hardware? No, they can buy it separately. They can integrate it with any other hardware provider, assuming that the devices are flashed to accept the protocols. I think this is a massive strength of ours because this is a quite traditional industry that is quite closed, guarded, and a lot of the key players use that fencing or, you know, creating unwanted stickiness based on not being very open. We are taking a very different approach. We want to be very open. We want to be open to integrations because we do believe that this is the winner. This is what all the customers are saying, that they want a platform that allows them to have a choice. That is not what's being offered on the market today, so we're very happy to take a completely different route. Finally, what is the potential of the offering? Well, that's a very good question. Very good question. What we see is that if you're just a software provider, you are forced to try and service a number of different sectors. Lone workers, for example, out in the deep forest, setting up electricity lines, that kind of stuff, because just this industry is not enough if you are a pure play SaaS company. There are a couple of them about. I think the potential here is that it's an internal cost case, which is quite substantial, so that's good. It's really in the interplay between the hardware and software and services, because then you can connect them in a much smarter way, and then you get customer value. The potential of just sheer, you know, sole platform sales is always going to be limited, because if we look around the globe and countries doing the same thing, even in the US or Australia, which is a big market and so on, that's not really the main reason for doing it. It's rather the interconnectedness and the value that it will bring in new digital services and so on. That was a long-winded way of not answering your question, but I do truly believe that you shouldn't look at it as a you know, pure play SaaS sales. There are companies out there doing that. None of them seem to be able to live well enough, stand-alone on this industry, so they're forced to go to other places. What happens then? Well, they start to develop things in a way that is not conducive to any industry, and thereby, you lose. We're not gonna do that. Thank you. Can you say anything about your investment needs, for example, the maturity of your software and hardware offering? That's a very good question. I think hardware-wise, we are in a good position. We can be a bit better. We are missing some key elements on the sort of state-of-the-art level in the current portfolio. When we talk about our portfolio, what we say is that, yes, there might be, on the hardware side, a competitor who, in a very small niche, might be a bit better than us, but in terms of this breadth and the ability to service customers, we're nearly unbeatable, at least from our own perspective. In regards to the software, so i.e., hardware development is ongoing, but we are more interested maybe in refining what we have rather than creating new generations of things. Investment levels will be there. We also change components. As you know, we had a huge component crisis during COVID. This obviously forces you to test for the new components and so on, so that comes with a cost. However, we saw a lot of positive growth because we were really adamant about not stopping, sort of, developing ourselves on the hardware side, and we gained a lot from that when competitors could not deliver. Regarding the software side, we are going to see continued investments, and the majority of that is around refining what we have rather than, you know, rethinking or that we're starting from scratch. We want to get really good at what we do. I think in terms of our internal thinking regarding the investment levels, to us, it's very much milestone-based. Once we get the ink on the paper for proper sales, we'll think about it differently. Up until the point where we do, we'll keep on the way we are. That's sort of how we think. Another question is: Do you plan to present financial targets? There, I'll refer that one to you, Maria. Yeah. What we don't do at Careium is give prognosis forward. We talk about the reports that we have, we have published and what we have achieved, but we have not taken the step of giving prognosis forward, and we're not doing that now. Do we believe in the market and in our company? Tremendously. Any other questions about that we have? Not yet. Let's see. We give it a little bit more time. You're more than welcome to reflect with us. Seems not at the moment. I take the opportunity to thank you all for the time to connect to us, to our meeting, and engage yourselves, inspired us with your thoughts and with your questions. I hope, and we hope we have inspired you. If I could just say a few closing words before thanking you all for being with us today, is about this, the question about the potential. Is there potential in the market, and do we see the potential in the market? A lot, because if there is industry that's growing right now, it is the industry that we are in, because we are getting older in the society, and it is good. We want to get older, and we want our loved ones to get older. There is a great potential in there. Having Careium with the experience that we have, because we've been in this market for a number of years now, and at the same time, the strong portfolio that we have and the competencies that we have, and as Christian mentioned, and demonstrate, the strong position that we have in the market, we see a tremendous potential going forward. We hope that you see it with us. Is there a reason why you should invest in us? Yes, because the market is growing, and we are strong, and now we've gotten our company to a stable position where we really can connect it, can take the next step. If there is any thoughts that you want to discuss with us going forward, please do that, and we will be more than happy to take discussions with you. With those words.