Good morning, everyone. Welcome to Doro's Q4 interim report for 2022. By my side today, as always, our eminent CFO, Isabelle Sengès. Good morning. My name is Jörgen Nilsson. Will you please roll on the slides there? Today we'll start off with some key highlights, have a look at some of our challenges also on the regions, then we'll zoom in on the 4th quarter and all the numbers, and then we'll also address a little bit about the challenges ahead and the priorities for the coming months. Of course, we'll open up with a Q&A at the very end. As you can see, we can switch on the content a bit like that. Can you please proceed? Oh, I didn't know it was animated. Please proceed. Yeah. The prevailing economic uncertainty that we saw through most of 2022 continued also in the 4th quarter. Basically, consumers, they continued to hold on very tight to their wallets, as their purchasing power remained weak. Most people adopted some kind of a cautious wait and see behavior, where they just put off their upgrades of equipment or even decided not to buy anything new at all. Naturally, this was then reflected in our report where the demand from our end customers dropped considerably compared to last year. I can say that not even our traditional shopping highlights of Black Friday and Christmas presented any major uplift. We also had some challenges from the earlier post-pandemic inventory shortages. That is that most of our customers are big retailer distribution customers. They had big warehouses, which they felt that they had to consolidate and open before they moved into purchasing new again. Despite these macroeconomic and consumer sentiment challenges, I say that we retained all our listings with all our customers. We also upheld good momentum in all our e-commerce, and we saw a further progress of our e-commerce throughout the regions, and we managed to maintain the market shares despite the declining market. On a more positive note, we also saw the positive development from the decreasing royalty costs. That's something we started working heavily on the last six months of last year, and we're moving on this year as well, where we're reviewing all our royalty and the license costs. Further to that, we got better warranty costs, thanks to continued good product quality. Fortunately, transportation and freight started stabilizing during the second part of the year, which once again enables us to report a positive operating profit and a positive free cash flow. Yes, it has been a very challenging 2022, and Q4 was not a change to that. We've continued to deliver a positive EBIT. Give me one. A third thing we would like to highlight is that we actually delivered now the first new products outside the phone family. We launched them at IFA in September, which you might recall, but now we also started selling them. The Doro Watch and the Doro Tablet is now for sale with our major customers. We're particularly proud about these products because these are the first new non-phone products that we have delivered from outside the phone portfolio. Our strategy towards expanding our senior offering now continues, and it's gonna go on fast going forward. Okay. If we have a look at 4th quarter and a little bit more of the business highlights. As I've said, no need to say much more about it, but there was continued economic uncertainty in the quarter and consumers' purchasing power remained weak. People are, of course, less inclined to buy consumer electronics if they have to think about their daily consumption. Our net sales came to SEK 265 million, which is a decline by almost 15% compared to the same quarter of previous year. Despite this, we managed to maintain our market shares even though there's been a general market decline. On the good side, all our products and all our products were listed with all our major operator, retailer, and wholesaler customers. As I said, we had a very good momentum in our e-commerce. Our gross margin dropped. We're down at 34.2 compared to 39% almost last year. This was mainly due to the fact that the strong USD dollar, which had a very big impact on our production costs. We'll touch a little bit more on that on the CFO later. We also do some hedging, and at the later part of the year, the US dollar started dropping again and our hedging was higher, so we also had a hedging loss in the period. As I just said now, we've initiated a work through the last six months of last year and continuing this year by reviewing and really working on decreasing the royalty costs. This was very successful in both Q3 and Q4, we saw, I think, some improvement on almost SEK 20 million over the year. Likewise, our quality department, our product services department, the R&D, has done a tremendous job in ensuring the product quality. We continue to secure low warranty costs as a result of this. I think most of us have noticed that nobody's been parking up boats in the Suez anymore, the transportation situation has stabilized. This has meant that the freight costs and freight rates now are coming down to more pre-COVID levels. There have been a lot of challenges. We have seen less people in the shops. Our big retailer and distribution customers consolidated their warehouses, especially in the Nordics, and therefore put off their repurchases. In face of all these challenges, very happy to still be able to report a positive operating profit and a positive free cash flow. Our EBITDA in the quarter amounted to SEK 20 million, down from SEK 50 million last year, but that's a margin of 7.6%. As said, now we've started selling our first new non-phone products, the Doro Watch and the Doro Tablet. If we have a look at the regions, the big drop and the big surprise are the same, was the Nordics, where the sale decreased by almost 40% for the same quarter last year. Here was a result of the major retailer customers, where they consolidated their overstocked inventories. In some cases, had nothing to do with Doro at all. They actually were overstocked in general, so they could not really afford to buy. This we sold through other ways, but it did have a negative impact. It's also important to remember that when we compare with Q4, 2021, we had a very successful B2B migration, fixed line migration back in 2021 by Telia in the Nordics. There was some extra income in Q4 and Q3 of 2021, which makes the delta this year even bigger. Otherwise, we continue to sell well to end consumers, and our market share in the Nordics for senior feature phones is still over 98% of the value. West and South Europe and Africa, we normally these days refer to as just Frabel. They once again increased versus last year, albeit slightly. One of the major reasons is that we now launched our new 4G feature phone with Orange, the largest operator in France. We also saw a good start for our new smartphone, which we are then going to release soon with Orange too, which we hope will be even better. In France, like in several other regions, we had a very good start, a very good development in terms of the e-commerce. Many times we've said we aspire to become the last man standing in feature phones. Still this and still being so late in the history, there are still new competitors coming into the market, and we saw new competitors yet again coming into the French market. Despite this, Doro managed to maintain a very strong market share. U.K. and Ireland saw a drop of almost 15.5% versus last year, coming in at slightly just beneath SEK 50 million in sales. It was yet another tough quarter due to the customers' overall negative sentiment. On the upside, our U.K. region is the best in terms of e-commerce, our online sales continued at very good levels. We also still sustain a good sales of our 3G feature phone clams in the U.K. However, this is now moving into the last phases since also our biggest U.K. customers are now moving over to our 4G. Finally, Central Eastern Europe, DACH. Here, net sales decreased by almost 9% and came in at SEK 59.5 million. The situation in Germany is kind of interesting because it continues to be very divided, where we have a substantial increase in our retail sales, which is basically driven by MediaMarktSaturn and the other home electronics chains, while demand from distributors remain very low. If comparing region for region, or region by region, the numbers are very similar. Frabel, West Europe still account for almost 40%, followed by Central Eastern Europe, 22%, UK, Ireland, 19%, and Nordics, 18%. Yvonne? Yes, all right. Some more numbers. As said before, the net sales for the 4th quarter landed at SEK 265 million. It's our best quarter in 2022 in terms of sales. However, a decrease of 14.7% compared to last year same quarter. The summary from Jörgen, as you heard, was that we had a low sell-in in Nordic. We had a good demand from retail in France, and we can point at satisfying online sales in U.K. and Germany. The gross margin was at 34.2% in the quarter, compared to 38.9% same quarter last year. The cost of goods sold were still high in comparison to last year as a reflection of the high U.S. dollar rate that prevailed during most of 2022. This quarter, our margin was also hit by a loss from our US dollar forward contracts. The US dollar started to weaken versus the Swedish krona, among other, at the beginning of the quarter, and we had hedged the currency when it was at its very height. In addition to that, the quarter four last year saw an opposite picture where we reported a profit from the US dollar forward contracts. If we compare that quarter year-on-year, we have a quite significant effect from our hedging purchase forward contract, mainly the one in US dollars. The EBITDA for the 4th quarter was at SEK 32.2 million, compared to SEK 66 million last year. The EBIT landed at SEK 20.2 million compared to SEK 50.5 million, giving an EBIT in percentage of sales at 7.6%. Profit after tax was SEK 16 million versus SEK 29.7 million, giving earnings per share of SEK 0.66 compared to SEK 1.23 last year. In terms of cash flow, the cash flow from operating activity was SEK 42.1 million, compared to SEK 46 million quarter four last year. The lower result, of course, affected the cash flow when comparing to previous year. The working capital improved, and we are particularly satisfied that we managed to decrease the inventory. Investments for the quarter were SEK 9.6 million, versus SEK 18.7 million last year. Having in mind that in last year's figures, we still had the care part of the business for two months out of three. Free cash flow for the quarter was positive at SEK 30.5 million, compared to SEK 27.3 million last year. On the liquidity front, we had a bank balance at the end of the quarter of SEK 154 million, compared to SEK 179 million last year, with a bank loan utilized for SEK 75 million versus SEK 150 million last year. Equity ratio was 52.6% versus 42.7% last year. We were in a net cash position at the end of the quarter of SEK 63.6 million, which is better than previous quarter when it was SEK 27.2 million, and better than same quarter last year when we had a net cash position of SEK 10.7 million. On this last data, I give the word back to you, Jörgen. Thank you. Let's have some concluding remarks, and then we'll open up for the Q&A. On the positive side, as we said, we continue to deliver a positive operating profit and positive free cash flow despite all the challenges in the world and for us. We have managed to maintain our market share despite working in a mainly declining market. We've seen very positive development in terms of the royalty costs. We continue to have low warranty costs, thanks to our quality department and our R&D. Freight costs have now, at least outside Europe, stabilized and are almost back to pre-COVID levels. As Isabelle just mentioned, we also managed to reduce our inventory. Our e-commerce continues to make very good progress, and we started selling our very first new products outside the phone family, the Doro Watch and the Doro Tablet. Challenges, as we all know, the economic sentiment with a combination of reduced consumer purchasing power and a wait-and-see behavior has, of course, affected not only Doro but the entire business. At the same time, many retailer and specialty distribution customers have tried to consolidate all their inventories and put all their repurchasing on hold. We did have the negative impact of first, a strong USD dollar on our actual production cost, which hit our gross margin, and then as we hedged and the USD dollar started dropping, the later parts of the year caused a hedging loss. Finally, for the priorities ahead, we are implementing new channel sell-out sales concepts and strategies, something we call the MCAP solution. It's already been rolled out with one of our major retailers in the Nordics, and I think we are at 20 stores today. We'll have another 40, 50 stores to come, and we're gonna do the same concept in the other regions. This year, we'll also finalize the conversion of our DACH region to a full-fledged Doro sales region in order to deliver on DACH's huge potential. We continue the transformation from a more phone and book-centric company to a leading technology provider for seniors by trying to expand our strong senior offer. Overall, I think we're pretty happy, despite all the challenges. As said, super happy that we now see the selling of the Doro Watch and the Doro Tablet. If I can do a 30-second sales pitch on the Doro Watch, I think it's an excellent thing because you can connect it to any smartphone of any brand, although it of course works more optimally with a Doro smartphone. I think that was it. We'll do like this. We shall see if we can get the camera up and running again. There we go. We will now open up for Q&A. First of all, we will open the microphones, and you should all please remember to unmute your microphones if you would like to ask questions. Let's see. There were some questions. Maybe we just do that. Can we see who it is? No, we can't. Fredrik I can see. Hi, Fredrik. Do you have a question? Thank you very much. You hear me? Yes, we hear you. Great. I have quite a few questions, and I wanna ask you first about the online and e-commerce sales that you're talking about that is holding up okay. Can you give us some color there? Is it increasing, or how does it look? I would say across the regions, yes, it's increasing, especially in Frabel and or West and South Europe and the UK. I can't remember numbers by heart, but I think we did a new all-time record per month in the UK. Okay. That's... You can't give us any percentage of net sales on that, no? Well, I think it's somewhere between 5% and 10% of the total sales now we are on, direct-to-consumer sales. Okay. Let me confirm just so I'm not- Depending on the region. Yeah, of course. region. Yeah. I was thinking for UK. Yeah, for this year. Okay, that's good. Good to know. Yeah, I'm looking at the Nordics. Of course, it was very weak there. You still don't see any turnaround in sight there? Yes, we do. I would say, I mean, we shouldn't really comment on the current, but it seemed to have been more a temporary hiatus during 2024, 2022, sorry. Things are starting to move back to more normal pace now in 2023. Okay. That's very good to know. France continued to show resilience there in the second quarter in a row. Do you think this is the level we're gonna see throughout this year or? Shouldn't really be making forward statements. Mm-hmm. Yes, I think our colleagues in Frabel, like the others of course, but our colleagues in Frabel have been very successful the last couple of quarters and years, and I see no reason why they should not be going forward as well. We have an excellent team there. Okay, that's good. I'm looking at the inventories, and it's, as you mentioned, coming down. It's like 14% quarter-on-quarter. If I put the numbers in the inventories, like 23% of rolling 12-month sales. Is this a level that you're satisfied with, or do you wanna go below 20%? We are always trying to go lower on inventory, but of course, we need to, we want to make sure we deliver to our customer. It has proven to be an advantage before that we were able to deliver even in hard times. I think, I mean, we will try to lower it even more. The international transport has stabilized, and we are really going to again work on the transport flow, the sea versus the air and et cetera, to both try to reduce the high transportation costs that we've had the last two years, but also optimize our inventory management. Yeah. Yeah. The air freight. I also saw the bulk prices from China is more or less below before the pandemic now. You don't see any problems there as well, right? No, that's what we're hoping that continues this way. I mean, of course, nobody knows what happens with, let's say, if the war in Ukraine would escalate and affect. Right now, we're back at basically pre-COVID levels, which gives a stabilization. As Isabelle Sengès very rightly pointed out, during the two years of COVID, we were loaded several times by our customers, the big retailers in Europe, for being able to continue to deliver despite all the challenges. Of having a big inventory, it is costly, but it is also definitely a business advantage. We always strive to keep it as low as possible. I'm sure if we ask our operations director, she will be thrilled. Could even make it even lower. From a sales point of view, they would have loved to have it big. It's always something we strive to find an optimal level for. Okay. My last question, now when Doro Watch and the Doro Tablet is released, I see the R&D costs are up slightly in the quarter. What are you working on at the moment? We have a new solution coming out in the first half of this year. I don't really wanna specifically say what it is yet because we think it could be one of the time. Then we're also working on further innovations that we hope to be releasing one more at IFA and then further on the next year. Of course, now we need to put a lot of emphasis on selling our new ecosystem of the smartwatch, the smartphone, the tablet, et cetera. Let's see if we now at Barcelona in a few weeks time, we'll be able to do a pretty quick sneak peek. Otherwise, you will be notified at the next time for sure. Okay. Thank you very much. That's all for me. Thank you, Fredrik. Yeah. Yeah. That's, Fredrik. Anyone else have questions? Please feel free. Either raise your hand or just ask. Baptiste, if you can hear me, can you see others in the speakers there who have raised their hand and wanna ask a question? We can't see them here on the screen really. No. Seems to be okay. Okay. Should we give it another minute to see if there are any further questions from anyone in the audience? No. We'll round off and thank for your attention. We will see you at the next report in, what's this here? Q4, February 16th. That's the day. Yeah. Well, that will be the next one in April. Thank you very much, everyone. Have a nice week. Thank you. Bye. Goodbye.