Welcome to the DDM Holding Q1 report 2022. Throughout the call, all participants will be in a listen only mode, and afterwards there will be question and answer session. Just to remind you, this conference call is being recorded. Today, I'm pleased to present Florian Nowotny, CEO, and Fredrik Olsson, CFO. Please begin your meeting. Hello, everybody. This is Florian Nowotny, and I'm welcoming you on behalf of DDM to this Q1 conference call. We also pre-prepared a short presentation. It's also on our webpage, ddm-group.ch. If you go down to investors, financial reports, presentations, you will see the presentation, and also have the link to the quarterly report that we put out. Jumping into this presentation, I think we've shown you this overview on the platform of DDM as it stands at the moment. We position ourselves as an investor in situations arising out of the strategic challenges in the European banking markets. What do we mean by this? This is basically the headline for everything where we see that banks have either regulatory reasons to sell assets, have strategic reasons to sell assets. We see a lot of movement within the wider banking sector that there are assets, whether it's individual assets like loans or subsidiaries, like in the case with Swiss Bankers, which no longer fit with the business model of individual banks or financial institutions and which are therefore looking for a more focused owner. That's where we come in and then try to do better with those assets than the previous bank owners who are constrained by both regulatory issues, also having a different strategic focus. That leaves us with three core business lines at the moment. It's on the one hand, our core business, which is really where we're coming from and where we continue to have our focus on the debt purchasing. Where we're buying non-performing loans. Secondly, we've got what we call the consumer banking, consumer finance investments. On the one hand, it's a stake in Addiko Bank, which I'll talk about later, and secondly, Swiss Bankers. Thirdly, mainly coming out of our experience of the non-performing loan side, we are now focusing our efforts on the real estate side as well, and try to put this into a more coherent structure than we had before. I think overall, this is a well-rounded portfolio, where we try to act as focused owners for those assets and extract more value out of those individual assets, whether it's loans or participations or certain special real estate situations, where we think we can add more value to the previous owners of those assets. Fourthly, we're assisted by this from our sister company, which is AxFina, so the loan and asset servicing. The service part of the overall value chain that's outsourced to AxFina. We really focus on the on-balance-sheet business. Jumping to the next slide on page four on the key highlights for Q1. I think overall Q1 showed few big swings or big surprises. Obviously, we were confronted with the backdrop of the Ukrainian war, which increased the volatility in certain aspects, but had no direct impact on us as we are not active either in Ukraine or, we also don't have any Russian exposure. It was only the indirect volatility effects that we had to deal with. We're also active on the acquisition side, so we were able to secure a corporate portfolio in Croatia with a gross face value of around EUR 20 million. We also completed an investment in real estate in northern Italy together with the Zoniro Asia platform. As you see in the balance sheet, there's a significant cash position at the end of Q1, which on the one hand will be used to close our Swiss Bankers transaction, on the other hand gives us further room to invest in transactions that we expect to further improve also our recurring profitability profile. Overall, if we're looking at the last 12 months, you know, we had around EUR 62 million of gross collections and cash EBITDA of EUR 39 million. It's usual, you know, first quarter is not by itself yet very meaningful, but I think we had a decent start into the year. Before Fredrik will later give you more info on the financials. Let me just highlight certain aspects. On page five, where do we stand with our acquisition of Swiss Bankers? As we've already explained in our last conference call, at the end of 2021, we signed the acquisition of Swiss Bankers. Swiss Bankers is a Swiss bank, as the name says, which is focused on mainly prepaid credit cards and attached money transfer products. It's a very focused financial institution that up to now is owned by a consortium of the big Swiss banks, like Credit Suisse, Cantonal Banks, Raiffeisen Banks, who founded it in 1975 as a platform for traveler's checks initially. It's got quite a long history, but has in the last years taken full advantage of the technical opportunities digitalization brings in this prepaid card business. Where we expect that we can leverage this platform and expertise to you know further accelerate the digital transformation there and use this as a platform to also then provide services like embedded banking-as-a-service products. And also use the Liechtenstein subsidiary that they have to passport their license into other EU countries so that there's a very interesting growth potential which was not captured under the current ownership because you know these Swiss bank owners you know were had a different view on what that bank should be doing for them. That's why they also ultimately brought this up for sale. We clearly see this as that Swiss bankers will profit from having a more focused ownership like us, where we can then fully support them in really leveraging the platform that they have and grow their business also outside Switzerland. We are currently in the regulatory process. It's also FINMA, the Swiss regulator, is having a lot of work, it seems, at the moment. These things take a while to get through the regulatory processes. We hope that, from a current perspective, sometime either late in Q2 or early Q3, depending on when the final paperwork is then ready from the Swiss regulator, we will be able to close this transaction. On the next page, some update on Addiko Bank. You know we've got a 10% stake in Addiko Bank, which is a listed Austrian bank active in the Balkan region. The bank had, on the one hand, a good operating performance, if you look at their quarterly figures, also where they stand with regards to their capital requirements going forward, etc. It's a sound bank that is making a lot of progress in its transformation process towards a more focused consumer SME bank. However, there was one issue that came to light in February that in Slovenia, a law was passed that would have quite draconian consequences on Swiss franc loans given in Slovenia going back, like, 15 years or 18 years, actually. That would have a negative effect on Addiko as well as a number of other banks. That is, at the moment, the outcome of that is uncertain because the Constitutional Court in Slovenia suspended the implementation of this law. Nevertheless, it had an impact on the share price, and that was even before any share price volatility in general coming out of the Ukraine situation. That's why also the share price went down compared to where it stood at last year, which had an impact on our P&L as we now carried that stake basically mark-to-market. Hence we have a non-cash EUR 3.4 million negative effect in Q1 coming out of this. As I said, we are confident that the Slovenian law will be solved with and that eventually, also the strength of the bank, which is trading at below 0.3 x book value, while at the same time having about 20% CET1 ratio, so that this will also recover ultimately. Also, Addiko Bank is not active in Ukraine or Russia, so there's no direct impacts from that on this either. With this, I now hand over to Fredrik to give you some more granularity on the financials. Thanks, Florian. Please turn to slide eight to start with. The ERC amounted to EUR 298 million at March 31, 2022. This is in line with the end of last year as a result of the collections that we had received during Q1 and then partially offset by the investments made. We expect, as Florian also mentioned here earlier, this to increase further here in 2022 on the back of the new acquisitions as we put the cash we have on the balance sheet to work. At the end of March, 69% of the gross collections are expected to be received in the next three years. If we look on the right-hand side on the pie chart, this shows and reflects the proportion of the ERC for the next three years that is secured at approximately 80% at the end of Q1, showing the strong credit value of our future collections. Please turn to the next slide, which shows our financial KPIs for the last 12 months. Adjusted gross collections totaling EUR 62 million for the last 12 months, ending 31st of March, in line with the full year 2021. Adjusted cash EBITDA of EUR 39 million from the last 12 months, also in line with last year. Also, let's say if we look on the total assets, they ended the quarter at EUR 250 million, once again then in line with December 2021. If we look at the equity, it amounted to EUR 32 million at the end of March, so following the net loss for the quarter, which was in turn, as already highlighted here by Florian, driven by the negative impact from Addiko and FX. This means that the equity ratio ended for the bond group at 21%. Once again, as mentioned in prior quarters as well, please note that covenants under the senior secured bonds are incurrence covenants and not maintenance covenants. Our operating margin was approximately 60% for the last 12 months ending 31st of March, which is above the operating margin for 2021. This is mainly due to the strong contribution from our joint venture. Our LTV ratio, which is the ratio of net debt to ERC, is slightly above 2021 at 47%. With this, I would like to hand back to Florian to wrap it up. Thank you. Now turn to page 11 to the key takeaways. I think, you know, what we need to focus on for this year is to make wise investments, because clearly, if you look at our balance sheet, we have a significant portion tied up in cash, which is not producing any fee income. The more of that cash is converted into income-producing investments, the better our P&L ratios will look. I think that's a very tangible effect we will have as we close the transactions that we're talking about. In general, on the collections or the macro environment, yes, there is some more volatility coming from the Ukraine situation. There was also some impact on the currencies that also has, I think, mainly calmed down. We have no significant impacts or negative impacts from the macro situation at the moment. Fourthly, key event for the next weeks, months will be the closing of Swiss Bankers Association and to integrate this into our balance sheet. Lastly, as Fredrik mentioned, we really focus on also taking the best advantage of the real estate aspect within our secured loans because I think this really anchors the portfolio well. If you look at the real estate markets also across Croatia especially, they are holding up very strong and that really helps us in getting the collections done that we are planning to do. With this, I hand back to the operator, and we open for questions. Thank you. If you do wish to ask an audio question, please press zero one on your telephone keypad. If you wish to withdraw your question, you may do so by pressing zero two to cancel. Once again, it's zero one on your telephone keypad to register for an audio question. As we have no audio questions registered, I hand back to our speakers. Well, Fredrik and myself are of course also available for any one-on-one questions you have. Otherwise, if we don't hear again, just pointing out that the next quarterly report is scheduled for August 25th. It's a little bit later than we usually do because we just wanted to have a little bit time in case the closing of Swiss Bankers Association happens before quarter end, because then, of course, that it will have an impact on the consolidation, and then it's better to have some more time to fully get the technical details of that done. We also have our AGM coming up on June 24th. As I said, please get in touch with either Fredrik or myself if you have any questions. Thanks for listening in and talk to you soon. Bye. This now concludes our conference. Thank you all for attending. You may now disconnect your lines.