Ladies and gentlemen, welcome to the Coor Service Management Q3 report for 2022. For the first part of this call, all participants will be in a listen-only mode, and afterwards, there will be a question and answer session. Today, I'm pleased to present President and CEO AnnaCarin Grandin and Acting CFO Andreas Engdahl. Please go ahead with your meeting. Thank you, and good morning, and welcome to the presentation of the Q3 report for Coor. Today, I have Andreas Engdahl by my side. This Monday, we announced he will take up a permanent position as CFO and IR director from the first of November, and I'm very happy with the solution. Andreas has broad experience within Coor and solid financial competence. He will make a significant contribution to our continued progress. Once again, we have showed the strength in Coor's leadership and appoint an internal candidate in an external recruitment process. I will start with a brief presentation of Coor and then continue to present our triple bottom line results, followed by a business and market update. I will then hand over to Andreas to present some more details around our financial performance in Q3 before we sum up and have a Q&A. Coor is the Nordic market leader in integrated facility management. We provide our customers with a broad range of services through our customer-centric business model and a decentralized organization. We are building a truly sustainable company, and we are constantly taking new positive steps in that direction. As a company, we continue to drive and steer from a triple bottom line perspective, meaning that we are taking a business, social, and environmental responsibility to future-proof our company in making a positive impact in the society and for the environment. Yeah. Coor's total turnover of SEK 11.6 billion LTM can be viewed in different dimensions. From a geographical perspective, Sweden is our largest country with 54% of total turnover. Denmark now being our second-largest country with 22%, followed by Norway at 19% and Finland at 5%. From a contract type perspective, we see that the split continues to be stable with IFM contract just under 60% and single service contract just over 40%. Slicing the turnover by service line, we see that cleaning is the largest service line with 38%. Property is the second with 31%. Workplace includes a number of different soft services with 18%, and food and beverage accounting for 10%. This means that we continue to see a normalization of the volume more similar to pre-COVID, especially when excluding the large acquisitions. Our top three customer segments are public customers by 30%, manufacturing by 24%, and energy by 16%. All in all, we see this as a well-balanced portfolio. Going into our business sustainability and the financial figures, we see another strong quarter from a growth perspective. Organic growth is 1%, and acquired growth is 10%. The organic growth is somewhat lower than previous quarters, but with large swings on country levels. Denmark has an organic growth by 24%, and our largest country, Sweden, has an organic growth by 6%. In Denmark, it is mainly related to the new public contracts with DSB and the Danish Building and Property Agency. In Sweden, it is driven by contracts with Micasa and the security contract with Borealis. In all countries, we see a positive effect of COVID-19 recovery. In Norway, we see a net negative organic growth, mainly from the ended contract with Equinor Office, but also from temporary high project volumes from maintenance stoppage in the oil and gas industry that ended in the last quarter. Acquired growth is fully related to Sweden and is driven by the acquisition of Veolia Technical Management, Inspira, and Centrumstäd. The EBITA margin for Q3 is 4.4%, which is lower than the last quarters. This is driven by a continued normalization of the volume mix and the expected effects of starting up large contracts and integrate acquired companies. We also see effects of volume decrease in Norway and Finland that requires additional adaptations. Inflation has become more notable and have a negative impact in the third quarter. Cash conversion is an LTM number, and it continues to be strong at 91%, well in line with our targets to staying above 90%. Leverage is also an LTM number with 1.8. We are slightly above Q3 last year, but well in line with our targets of staying below 3. In this quarter, we also present the outcome from this year's annual customer satisfaction survey with a customer satisfaction index at 71. This is somewhat lower than the last record results of 74, but still above our target of staying above 70. From an LTM perspective, organic growth is 7% and organic growth 10%, and the LTM EBIT margin is 5.6% and well in line with our financial target at 5.5%. Moving on with our social and environmental sustainability. This quarter, Coor has once again been awarded the gold rating in EcoVadis Annual International Rankings. EcoVadis is an independent analyst that provides annual sustainability ratings for companies, and gold means that we are within a top 5% from EcoVadis perspective. Starting with engaged and motivated employees. This year's survey shows a strong outcome of 76 and well above our target of staying above 70. We continue to improve our drift levels. As of Q3, that number is down to 7.9 compared to 9 last year. Steady improvements, but still work to be done in order to reach these targets being below 3.5. Gender balance continues to be stable at around 50/50. We continue our efforts to reduce our CO2 footprint. We see stable development in scope 2 and 3, while we still have challenges with the CO2 reductions related to our vehicle fleet. Over to our business and market updates. In Q3, we have made some important IFM contracts prolongations with Volvo Cars and CGI. We have also prolonged one of the largest public sector contracts in Sweden with Region Stockholm. From a new win perspective, we have several small and mid-sized contract wins, but no really large cases in the quarter. However, as you have seen from the growth figures, we have several large wins in the previous quarters that are now being integrated. With strong organic and acquired growth, we obviously have a very strong focus on integration in both Denmark and Sweden. As I mentioned earlier, inflation has become more notable in this quarter. A majority of contracts have an index clause giving us a good possibility to transfer cost increases to customers. Having said that, indexation are typically made once a year, meaning that there is a time lag between contractual indexation and cost increase. We pay high focus to find mitigation actions to balance that effect, such as procurement efficiencies, alternative menu planning in restaurants and of course, price increases. The pipeline for new organic business continues to be solid, and we are actively looking at the new M&A opportunities. We are in the middle of an energy crisis. High energy prices do not have a direct impact on Coor, but we have customers that are more impacted by this. A large share of energy consumption is related to buildings, and we see increased demand for our energy efficiency services within the property area. Coor has both the competence and several smart service solutions to support our customers, lowering their energy consumption. With smart drones, we can detect heat leakage in buildings, and we have concepts for energy-efficient lighting with our smart lighting solutions, and also technology to monitor and optimize the total energy consumption of buildings by using our concept for smart energy. We have several reference cases where total energy consumption has been reduced by 10%-15% with our SmartEnergy concept. With SmartLighting, we have reduced energy consumptions for lighting by 90%. To summarize, in this area, Coor is well-positioned to support our customers to create more energy efficient buildings and lowering their costs. With that, I hand over to Andreas to continue with the details on the financials. Thank you, AnnaCarin. As you heard from AnnaCarin, growth continues to be strong also in Q3. Net sales is up over SEK 300 million versus Q3 last year, and that takes us to a quarterly net sales of close to SEK 2.8 billion. In addition to the 1% organic growth and 10% acquired growth, we also have some positive FX effects of 3%. Adjusted EBITDA amounted to SEK 122 million, which gives us an EBITDA margin in the quarter of 4.4%. Net income is SEK 39 million, and adjusted net income when adding back amortization amounts to SEK 71 million. On the LTM numbers, we see that net sales is SEK 11.6 billion, which is an all-time high level and about SEK 1.5 billion above last year. LTM organic growth is 7%, acquired growth 10%, and FX 3%. The LTM adjusted EBITDA level is SEK 655 million, which gives us an LTM EBITDA margin of 5.6%. Adjusted net income for the LTM period is SEK 441 million. As Anna-Karin mentioned, we can see the very strong organic growth level in Denmark with 24% and also in Sweden with 6%. In Sweden, we also have the very high acquired growth impacting the Swedish numbers by 21%. This means that our two largest markets when looking at the Q3 figures are growing with approximately 25% each. This is of course something that requires both time and resources, not only from the country organizations, but also from a group perspective. In Norway, we have seen high project volumes in the oil and gas industry for several quarters, more or less offsetting the ended Equinor office contract. These temporary high project volumes ended in the second quarter, making the effects of Equinor office more visible now in the third quarter, taking Norway to a negative organic growth of 27%. In Finland, new wins and return on variable volume cannot fully offset the ended Finnish part of the contract with ABB. From an EBITDA and margin perspective, Sweden continues to deliver a solid margin in a seasonal weaker quarter, but not at the extraordinary high levels of Q3 last year. In Sweden as well as the other countries, we see the effects that we have talked about in previous calls, that a normalized volume mix will put pressure on the margins compared to the COVID period. For example, we see higher share of F&B volumes and also higher resource requirements from increased activity at customer sites. We also see, as AnnaCarin mentioned earlier, negative effects from inflation in all countries. Margin in Denmark is down compared to last year, driven by the large integrations, but also from strengthening central functions to handle the growth. Looking at Norway, we have a negative impact on both EBITDA and margin from the ended contract with Equinor Office, and also a negative EBITDA impact from the temporary high project volumes that ended in Q2. Finland, a negative impact from the ended ABB contract, and also in the beginning of the quarter, some challenges around resources. Looking at the cash flow, we had an opening cash balance of SEK 122 million. Operations have contributed with SEK 746 million. The financing flows reflecting interest, loans, and leasing adds up to SEK 593 million. Taxes paid equals SEK 90 million. Cash out from M&A is related to the acquisitions and adds up to SEK 411 million. Dividends equals the ordinary dividend payments made in May and the extraordinary dividends paid in October last year, and that adds up to SEK 455 million. That gives us an outgoing cash balance of SEK 504 million. A look at some details from the balance sheet and our cash conversion. Cash conversion continues to be strong at 91% for the LTM period, with a continued low CapEx and improved working capital. In terms of working capital, we continue to see stable payment patterns from customers. Net working capital is negative by SEK 883 million or approximately 7% of LTM net sales. Net debt at approximately SEK 1.6 billion and leverage at 1.8. With that, I hand it back to you, AnnaCarin. Thanks, Andreas. Before we go into Q&A, I would like to sum up our third quarter. Q3 has been characterized by continued strong growth with an LTM growth by 20%. We see a pressure on the margin in the quarter due to the high growth in combination with a normalized volume mix, but we also have negative impact of inflation in this quarter. This situation is something we have talked about and expected and is now materializing. We have a strong cash flow at 91% and a leverage of 1.8, well in line with our financial targets. Given our strong financial position, we see continued opportunities to carry out value-adding acquisitions in the Nordic region. With that, we open up for questions. Thank you. Ladies and gentlemen, if you have a question for the speakers, please press zero one on your telephone keypad. Once again, that is zero one on your telephone keypad to register for any questions. Our first question comes from the line of Karl-Johan Bonnevier from DNB Markets. Please go ahead. Your line is open. Yes. Good morning, AnnaCarin and Andreas. I think we all need slightly more help to understand all these moving parts in Q3 that I also remember from historical patterns, was your seasonally weaker quarter, so to say, to understand what is impacting, say, from a seasonal perspective here, what is impacting from startup perspectives and so on. Is there any chance you could, say, shed some more light on maybe the absolute quantities, what you see coming from large startups, inflation and all these kind of components that you are mentioning that is hitting you in the quarter? Maybe also then referring it to what you see of that is probably better balanced in a sort of seasonally stronger Q4, or which will take longer for you to balance. Yes. Let's start with Q3. You're correct that we see a negative impact from inflation. The net effect of that, meaning that the cost increases with some mitigations that we have implemented is around SEK 10 million. You're also correct that this is a seasonal weaker quarter for us, typically. That has been somewhat distorted during the pandemic with some extraordinary profit levels. Looking at the historical numbers, a normal Q3 has been more in line around 5% for us. I think for this quarter it is relevant to take a look at 2018, where we had a similar situation with very high growth number, both organically and acquired, and also some large renewals that was implemented. Back in 2018, we had a margin of 4.3%. If we continue to compare with 2018, is that, should we say from a seasonal perspective then expect the same kind of normalization of margins upwards in Q4, or is that something that is really holding you back this year compared to, say, the 2018 pattern? No, I think it's. I mean, we are running integrations, large ones in Denmark. Obviously we have an ambition to increase margins in Denmark as that contract matures. As we had said in the past, it typically takes 6-18 months to integrate such a large contract. This is large in size and complexity, more towards the 18 than six months, I would say. It will take some time, but the ambition is to increase margins in Denmark. Looking at Norway, we did some adaptations to handle the ended Equinor office contract last year. Now we see a lower volume base here after the summer, and we are implementing additional adaptations to that lower volume. There are mitigating actions that we will expect to see come here in Q4. The comment for Norway, is that a similar kind of thing for Finland? Obviously, I guess you have slightly higher absolute volumes in Norway, so it might be easier for you to mitigate that kind of thing in Norway than it might be in Finland if you lose volumes. Yeah, I think that that's correct. I mean, Finland is smaller and I think it's hard to fully compensate for that effect that the lost contract with ABB came with. I, obviously, I see that you continue to generate very, very good cash conversion even on these kind of slightly more depressed margin levels and so on. I see your last slide still talk about the leverage capacity and keeping dividend. Is that. Would you assume, given the current kind of environment, that there would be any risk for you not paying a similar kind of dividend for this fiscal year as the last one? I think that that's a question for the board, of course. We still have our financial target and that they remain. I guess on that kind of say target, you are still well within those targets, let's say. Yeah. Is that the way of looking at it? Yeah, that is correct. Excellent. I'll stop there. Thank you very much. Thank you, Karl-Johan Bonnevier. Thank you. Our next question comes from the line of Robin Nyberg from Carnegie. Please go ahead. Your line is now open. Robin Nyberg here. Hello, hello. A couple of questions. First, related to the margin, when do you expect the effect of the lag between inflation and price adjustments to be less visible? Is it already in Q4? Well, it's hard to be specific on that. As AnnaCarin mentioned, we have an index clause in the majority of our contracts. They are sort of continuously being adjusted now, but the timing of that is spread out through the year. We are also implementing mitigating actions, as you also mentioned. We do see positive effects from that. Then it's of course hard to speculate on future inflation levels. That's the sort of unknown factor in that. Over time, we see that we have a very good position to handle inflation in a good way. Okay. Is it fair to assume that in the next, let's say, 1 and 2 quarters, there will still be some headwinds from this and then it's gonna gradually disappear? I would say that's a fair assumption. All right. Second question related to organic growth. Could you give any indication about how we should think about organic growth in the short term? You have some positives, new contracts that have been announced and then some headwinds, for example, in oil and gas industry in Norway. How should we think about? How are these balancing? I think, yeah, Robin, you are totally right. We do not have any large wins in this quarter. As I mentioned, we have a solid pipeline, and we are also winning some mid and smaller cases in the same, well, level as we have seen before. We haven't seen those really large cases in the pipeline at the moment. That's a quite normal situation. Those large cases, they are not there the whole time. Maybe a year ago, we had a different kind of situation. We had some really large cases in the pipeline, and we won our share of that with the DSB and Danish Building and Property Agency and of the PostNord cases, and they are now materializing into our books. Of course, we can see in the future large cases coming into the pipeline, like the Danish Building and Property Agency. They will also source the third and last part of their facility management needs. That will come up in the beginning of 2023, of course. We have quite a lot of focus in our organic growth. Okay. That's all from me. Thank you very much. Thank you, Robin. Thank you. Once again, it's zero one on your telephone keypad to ask any telephone questions. As we have no more questions, I'll just hand it back to our speakers. Thank you. Thank you all for listening in to this Q3 call. Hope to see you live soon again. Thank you. This now concludes our conference. Thank you all for attending. You may now disconnect.