Thank you. Good morning, everyone, and most welcome to our third quarter call presentation today. We hope you're all well and have a good morning so far. Here on our side of the call is myself, Thomas Ekman, and we have Johan Karlsson, CFO, and Fredrik Sätterström, Head of IR, also in the room here as well. Today, we present our third quarter results for our fiscal year 2021. We are continuously navigating ourselves on our different markets through the current conditions. I also want to emphasize too, that I'm very proud of our achievements and everyone at Dustin for their strong contribution in helping and supporting our customers and continuously enable our customers to stay in the forefront, especially now also when the hard work also shows up in the numbers. As previously announced, as you know, we acquired Centralpoint in the quarter, in the Benelux during the quarter, and that is a transformative move for us, and it will enable us to step up to the next level. We closed that transaction on June 3rd, why Centralpoint numbers are not within our Q3 numbers. We will, however, come back later on in the presentation today with an update. First, though, let us go through the quarter and moving on then to slide number two for financial highlights to see how we are improving and performing now during Q3. We have strengthened our position in the markets and report an organic sales growth of 5.1% for the third quarter. Our productivity and strong position in the value chain benefited our performance in the market, which has been impacted by component shortages and supply chain disruptions due to the pandemic. This in combination, though, with intense cost focus, resulted in our adjusted EBITDA increasing by nearly 50%, and the EBITDA margin strengthening to 4.7%. In addition, our online core business performed strongly in pace with a higher share of online retail and a greater need for mobility and cloud services and security driven from underlying strong trends. The different market trends that we build our strategy on, the online shift, the growth mobility, cloud services, demand for predictable IT costs, focus on security and integrity, and last but not least, of course, sustainability, have continued to be strong and increasingly important during the quarter. That, of course, makes our long-term position even stronger. Net sales were at nearly SEK 3.4 billion, up 3.8% versus last year. The organic growth, as said, was 5.1%, of which SMB showed a very positive 14.5% growth. LCP at a negative 2.6% and B2C at a positive 6.5%. Overall, strong organic growth for primarily SMB and a small decline as a consequence of the shortage for LCP with delayed deliveries, but with continued strong demand. Gross profit was SEK 557 million compared to last year's SEK 493, giving us a gross margin at 16.4%, up from last year's 15.1%. As said earlier, our adjusted EBITDA increased with nearly 50% and came in at SEK 158 million versus last year's SEK 106 million. That gave us the adjusted EBITDA margin at 4.7% for the quarter versus last year's 3.2%. Strong performance and strong earnings. The margin improved by good performance and the structural changes we're doing, combined with good cost control within all segments. Both SMB and LCP show good progress in margin uptake. Consequently, EBIT was up to SEK 140 million compared to last year's SEK 52 million, and items affecting comparability was a negative SEK 20.8 million. Cash flow from operating activities was minus SEK 93 million compared to last year's SEK 468 million. We will come back later on in the presentation to describe the changes in working cash flow. EPS, earnings per share, was SEK 0.85 per share versus last year's SEK 0.35. Our leverage at 2.1 versus 2.5 last year in the lower part then of our leverage target, which is between two and three of EBITDA. Apart, of course, from an intense quarter from an operational perspective, we have, as previously announced, acquired Centralpoint in the Benelux, and more on that later on. Now, Johan, you can take us through the financials in our different segments. Yes. Thank you, Thomas. Moving to Slide 3 and the SMB segment in some more detail. Sales for the quarter ended at SEK 1 billion 571 million, an increase of 13.3% over last year, and as Thomas said, representing an organic growth of 14.5%. Sales growth continues to improve quarter-over-quarter despite challenges in the global supply chain. As in Q2, we saw good sales development in the hardware categories from all customer groups in the segment. However, compared to last quarter, where the small customers were driving the growth, we also saw mid and large customer groups in SMB performing well. Recurring sales from services is continuing to recover after last year's negative effect from the pandemic and grew by 6.3% in the quarter to an annual sales rate of SEK 856 million. For project-related services, the quarter started slow, but momentum has gradually improved during the quarter. Geographically, we saw good growth coming from all markets, but Norway, Sweden, and Finland in particular. Segment margin for the quarter was 10.2% compared to last year's 7.8%. The main reasons for the good margins was higher volume growth with shortages in the market, strong sales of private label products, and effects from cost efficiency initiatives. This was, as in the last four quarters, somewhat offset by lower sales of high-margin project-related services. The share of software and services was 21.4%, down from 23.7% last year and 21.6% in Q2, mainly due to the strong hardware sales. In total, segment results ended at SEK 161 million compared to last year's SEK 109 million, an increase of 48%. Segment margin of 10.2% was 2.4 percentage points higher than Q3 last year. All in all, a very strong quarter for SMB, both in regards to sales and margins. Moving on to Slide 4 and LCP. Sales in LCP was SEK 1,660 million in the quarter, a decrease of 4%, of which 2.6% was organic. During the quarter, we saw continued positive signs in the corporate customer group, where sales continues to recover, while the public customer group was affected both by component shortage and delivery issues. Our current view is that the long lead times will remain for some quarters, but that we have seen the worst of it, and it will gradually improve back to normal. Geographically, we saw strong sales in Finland and Sweden, while larger contracts in Denmark and Norway were affected negatively. Segment margin ended at 6.6% compared to last year's 5.9%. The increase over last year is mainly explained by generally margins in some of the larger contracts, improved sales to larger corporates, and effects from last year's cost efficiency activities. Segment results improved from last year's SEK 102 million to SEK 110 million, or by 7.2%. This was especially positive as we had seen the issues with hardware availability. Moving to Slide 5 and the B2C segment. B2C had a very strong quarter from a profit perspective. Sales increased by 5.4% from SEK 155 million last year to SEK 163 million this year. Of the growth, 6.5% was organic. The main reason for the sales increase was strong underlying demand of computer hardware and accessories. The segment margin was up from 7.7% last year to a record high 9.1% this year. Good product mix and high prices due to the supply shortage contributed to the good margin. Moving on to Slide 6 and net working capital. Net working capital was negative SEK 293 million compared to last year's negative SEK 530 million. Last year was highly affected by the extreme situation in the beginning of the pandemic, where we focused on securing working capital to mitigate potential risks in customer payments. This year, the customer situation is more stable, while the supply situation is more challenging. During the quarter, we have continued to use our strength in the value chain to get good terms with customers and suppliers. More focused on getting products delivered on time and in full than prolonging credit terms. Looking at the details, we see that inventory has increased in the quarter to SEK 607 million, compared to last year's SEK 537 million. The main reason for the increase was higher purchase volume to reduce the risk with shortages of components. Accounts receivables was up SEK 120 million, mainly as a result of higher business volumes. Moving on to accounts payable, which was SEK 281 million lower than last year, mainly due to the actions taken last year as a result of the beginning of the pandemic. In total, we continue to see strong performance in the area of working capital, where we have now shifted focus to support good margins by opportunistic sourcing rather than prolonging payment terms. Leverage at the end of Q3, as Thomas mentioned, was at 2.1, where our target is to stay in the range of two to three. The main reason for the increase compared to Q2, where leverage was 2.0, was the increase in working capital compensated by the operative cash flow. Moving on to Slide 7 and cash flow and investment. Our cash flow for the quarter was negative SEK 167 million compared to SEK 334 million last year. If we look at the different parts, we see that cash flow from operating activities before change in net working capital was positive SEK 136 million compared to last year's SEK 109 million. While change in net working capital this quarter was negative SEK 228 million compared to SEK 359 million positive last year. The main difference being the decrease in accounts payable and increase in inventory this year. Cash flow from investing activities was negative SEK 24 million compared to last year's negative SEK 96 million, where last year's was affected by acquisition. Cash flow from financing activities was SEK -50 million compared to SEK -38 million last year. This mainly consists of repayment of lease and rent liabilities. Moving on to investment. The total investment amounted to SEK 54 million compared to last year's SEK 125 million. CapEx related to IT development amounted to SEK 11 million, which was in line with last year. Investments in tangible and intangible assets decreased to SEK 18 million from SEK 94 last year, and last year's numbers were affected by prolonged rental agreement. Investment in assets related to service delivery was SEK 26 million compared to last year's SEK 21. All in all, SEK 24 million out of the SEK 54 in CapEx was affecting cash flow. The others were changes in lease or rent contracts. Moving back to Thomas. Good. Thank you, Johan. Continuing over to Slide 8 and talk a little bit more about the acquisition that Centralpoint that also marks a new chapter for Dustin. I think looking at this graph, you can say that Dustin is a textbook example of how companies develop under different management and different ownerships. If you look back here, we can say that we have had a founder phase from 1984, where we were mail order sales for B2B hardware and development also of the online platform already in 1995, with the four founders who understood the beauty of a cost-efficient sales model towards many small companies. On to a second chapter where we were in private equity ownership and expanding to new territories, new countries. We built our warehouse. We supported a lot of the development of the IT platform. Listing at 2015, where we have clarified the strategy, continued growth, moving further on into services, developing ourselves or professionalizing ourselves you can say. Now, taking the next step and starting to write our fourth chapter here with an European expansion, with the acquisition of Centralpoint, building us as a true multi-regional player with a strong foothold in the Nordics, but as well as in the Benelux. That is, of course, an exciting part going on here. Continuing to slide 9, now when we pave the way to build our European IT powerhouse, combining Dustin and Centralpoint. We will be around 2,300 people in the company and a little bit more than SEK 20 billion in sales. We can take a lot of LTM numbers. If you look at the EBITDA at around SEK 800, which is also from the LTM from last year. Then around 500,000 customers and making us the eighth largest EMEA IT partner reseller in our region of the world. Of course, as you know, being large in our industry is a good thing in terms of purchasing power, in terms of influence of the whole value chain, driving both sustainability and of course, profitability at scale. This is exciting. Of course, now when we look into combining the entities and combining the two companies, if we move on to slide number 10. We have set out an attractive valuation agenda to speed up the ability to achieve our long-term targets, where we will keep the strong momentum in the core LCP segment within Centralpoint. We realize sales and efficiency synergies of SEK 150 million annually on both local and group level. We can also say that we can accelerate the growth both in the Nordics and the Benelux through targeted capability transfers, both in SMB and in LCP. Of course, we continue to the rollout expansion in Benelux based on our proven Nordic recipe. The synergies here, they are expected in areas such as procurement, increased private label penetration, IT and technical platform, knowledge sharing, of course, and the SMB online operations. Those expected as we see them now and as we have estimated them and we can sort of continuously confirm them, is that we expect annual sales and efficiency synergies of approximately SEK 150 million. They should be fully implemented by 2023 and 2024. Investments to extract those is around SEK 50 million. Those we are estimated to incur during next fiscal year, 2021, 2022. We closed the deal, as said, on June 3rd, now it's full speed ahead. As a starting point of that, as you probably saw also last week, we announced the new organizational design on the leadership team level, with two strong regions running both operations and segments and efficient team of group functions with finance, HR, and brand. In those two regions with the Nordics and the Benelux, we will have the operations functions, including IT operations, procurement, warehousing, among others. Of course, we set those up to gain scale and leverage on and also the country specific and maximize synergies captured on this. This looked good. Now we start off, of course, also with setting all the other synergies in this. From that Q4, now this coming quarter, we will of course also include all numbers of Centralpoint within our reporting. Exciting times ahead. Now before going into Q&A, let's summarize the third quarter. Net sales up nearly 4%, up to SEK 394 million, where organic growth for the group was 5.1%, with SMB at a really strong growth of 14.5%, LCP at the -2.6%, and B2C at 6.5%. Gross margin 16.4% versus 15.1%, up due to a positive product mix and our pricing model together with higher volumes, of course, and strong sale of private label products. Adjusted EBITDA came in at a solid SEK 158 million, giving us an EBITDA margin of 4.7%, an increase from last year's 3.2%. The initiatives here and the actions we have taken on the cost side, both strategic and short term, has given effect as well as our strong performance during the quarter. EBIT at SEK 140 million and EPS at SEK 0.89 per share. On balance sheet, operating cash flow at -SEK 93 and leverage in the low range of our target at 2.1 to EBITDA. With the good organic growth and the solid earnings in Q3, we see that we are correctly positioned with a strong, unique digital relationship with hundreds of thousands of customers and now an even more optimized e-commerce platform combined with strong relationships towards our folks in Public. Which is now even more enhanced with the acquisition of Centralpoint. With our service offerings now coming back in demand, we further increase our relevance to benefit our customers. That, combined with our strong financial positions, means that we are well-equipped to take the opportunities and challenges that will be presented to us by the business climate and, of course, from our customers. Good. With that, I think we are happy to take any questions you might have. Operator? Thank you. Our first question is from Daniel Djurberg from Handelsbanken. Please go ahead. Thank you very much, and good morning. Good morning. Yeah. My first question would be on LCP and especially the public was hit by the component shortage, as expected, I would say. Can you possibly give us any flavor of the order backlog in terms of book to bill or increase percentage-wise or something in terms of how the order backlog and the outlook for, especially, I guess, Q1 2022 looks? I think what we have seen lately is the order lead time expanding. Actually, customers are placing orders further ahead of when they want to have deliveries. Order book is significantly bigger. Doesn't mean that all that is increased demand. It's mainly a longer order cycle time. Let's put it that way. We have orders for the full calendar year of 2021 now, which is not the normal way of having the order book in our industry. What we see is we have orders for longer periods, and we believe that we have now reached the peak of the order cycle time, and it will now stabilize and improve. Gradually we will empty out the order book that we have at the moment. If that will happen in Q4 or in next year's Q1 or Q2, very difficult to answer, but it will not happen in one go. It will gradually move back to normal. Perfect. Thanks. Another question, if I may, on the Centralpoint now consolidated. Can you give any lesson learned, Early Lesson learned, so to say, positive, negative surprises, and any comments on the SEK 150 million synergies, if you consider it reasonable still, or it's a tad low or something? I think overall it has been on the-- there's sort of no surprises in the acquisition and the closing process. We still see that the SEK 150 million is reasonable and within the target. That's good, and we have started to work on those, and we see that they can for sure materialize in the period that we announced earlier, at the Q3 report. It's good, and also we have seen the same development in the Benelux region as we had in the Nordics. Strong demand on the SMB side, longer sales that you all are into on the LCP side with component shortage. There's still strong performance and strong demand. It's encouraging, it has been during the spring now. Perfect. Good to hear. The question to you, the last one here on cash flow again. Inventory volume up on growth and actually working purchase work. Still, I guess, I would expect that it's mainly LCP that builds inventory a little on SMB in this division with a negative minus 2.6% organic growth. Can you elaborate on the inventory and also accounts payable being as low as it was in the quarter? What to think of cash flow or working capital in Q4 now? Yeah, I think it's a good question, and I think it's good to explain and discuss this subject a little bit because we see a situation in Q3 this year, as you would have seen in Q3 last year, when we actually moved into a more drastic situation coming from the pandemic. If you look at the graph on net working capital that we presented before, you see very clear that in Q3 2019/2020, working capital went down dramatically compared to the quarters before. We also said at that time that we were securing working capital if the customers wouldn't be able to pay us. We used all our leverage towards the suppliers to extend the payment terms. That was one year ago. Now, having lived through the year with customers actually continuing to pay on time and in full, we have now shifted a little bit the focus from payment terms to the suppliers to availability, because we think that is better productive and better productive results. We have moved payment terms back a little bit towards more normal situation, and at the same time used the leverage to get product in a very difficult market situation. That has paid off on the SMB side, where we can capture, let's say, availability of product and push them to our customers. As Thomas said before, on SMB, we sell what we have on stock, and the customers are willing to buy what we have on stock because they need a computer, while on the public side, they have a already predefined product that they need to buy. They cannot just change the SKU that they buy. They have a problem with delivery. Perfect. Thank you and good luck here in Q4 and have a great summer. Thank you. Our next question is from Christoffer Wang Bjørnsen from DNB. Please go ahead. Good morning, guys. A couple of questions. First of all, coming back again to the supply chain challenges that you mentioned especially in the public sector. Could you maybe just help us out understand better why this is more a problem for the public sector than the other segments? I guess there are more stringent requirements related to which models they can buy and stuff like that. Have you seen any kind of issues related to that in the other segments at all, or if you can elaborate a bit. Yes, sure. No, it is true, the shorts, what we said there. The public sector buy customer specific orders, like a laptop with a specific processor or specific graphic card and so forth, and they order those, and then they are stipulated in the contract. It's sometimes a longer time for public entities to shift out to move to other models. That, of course, affects the sales towards, or deliveries I should say, towards the public entities. On the SMB side and on the large corporate side, which are more flexible in their contracts and especially SMB, of course, they are more open to buy other types of models of laptops and computers and peripherals. Hence we have managed to, as [Johan also mentioned], to put them on stock and also deliver to the SMB customers. That's also why we can explain the strong growth in SMB, because there we sort of push out the sales more than sort of pull out the sales. There is a difference in model there, but we see also openings for the public sector there, given the fact that they need the equipment and then they also open up to be more flexible in their way of taking on hardware that they need. That is the reason why. All right. Thanks a lot. On that headwind, in LCP what do you think the revenue growth would have been organically in the quarter if that wasn't an issue? What was the demand in the quarter looking like compared to year-over-year? Really difficult to say, but a couple of percentages for sure it has affected somewhere in the range of, I would say five-ish. Yeah. All right. That's great. One final question from me is on the, you said that the gross margins were helped by maturing contracts and frame agreements in the public sector. Could you help me understand that dynamic? I also have the understanding that it's become more and more normal that there are more stable margins for these kind of frame agreements through the whole lifetime of that agreement. If you're seeing this maturing and then maybe next year coming forward, does that mean we should see kind of gross margins decline when we go into a new frame agreement in the beginning of 2023 or something like that? How should we think about that dynamic now going forward? As we have talked about before, there is this dynamic of improving margins within at least some of the public contracts and actually most of the public contracts, I would say. Therefore the average age of the contracts in the portfolio will have an impact on the overall ability to deliver margins. One good thing with the acquisition of Centralpoint is that the portfolio has increased significantly of these little bit larger contracts, hence there will be a more even spread of the contracts. We believe that the spike effect of this will be reduced as a consequence of the Centralpoint acquisition. There will be, of course, changes in margin due to the fact that we win or lose large contracts. All right. Thanks a lot. That's all for me. Thank you. Our next question is from Daniel Thorsson from ABG. Please go ahead. Yes. Thank you very much. A question on the component shortage as well. You mentioned the shortage of processors and graphic cards specifically, which we all know have been highly demanded in Bitcoin mining, for example, with the price coming down significantly in the last 2 to 3 months. Have you seen any stabilization in the components market lately that could help you already in the current quarter, you think? Yes, we have. We also have, of course, intense talks and meetings with all the major vendors. I think on a global level, you can say that the semiconductor shortage is more under control now. The shortage is decreasing with that trend. What has been slightly more problematic now in the quarter has been the more low-cost components like video codecs, Wi-Fi connectors, analog video components, which is sort of seen from an IT perspective as non-strategic components, and they are having a shortage. I think we have had a period of processors and graphic cards with a shortage of problematic supply chains. Now we have also seen on other types of components. Overall, we see light in this tunnel definitely, and then that the sort of shortage period is also coming to an end, the more the world stabilizes itself as well. Okay, I see. Thanks. Secondly, on the private label, you mentioned that you see a strong development of private label. Do you see that more in B2C or SMB or LCP? I think in general, overall, we see that. Primarily, SMB has been a key driver during this quarter. we also see it, of course, we get more and more into the larger deals with the public sector and especially also large corporates. Given the fact that, as we said before, we are in low complex areas like cables and adapters and the brand sensitivity for those is not high. it's possible for us to exchange to our type of product, our private label product. Sure. Yeah. It is very similar in the different segments of relative team. Okay. That's clear. Do you see the same opportunity in all of the three segments? Four. Yes, we do. Okay, great. I also saw that you mentioned non-recurring items related to Vincere in Netherlands. That was a couple of years ago. Is that still integration with Dustin Group or is that integration with Centralpoint? It is with, you could say, Dustin Group. We are now melting the companies down there together and then slightly moving on to the Dustin ERP platform. That's what we haven't done before. That's what we have initiated now. Okay. I see. That's with Dustin. Okay. Finally, we've already got some questions on cash flow, but when you say coming back more to normal level, do you mean the minus 1% sales that we have seen in the last two, three years? Or do you see any other underlying changes in that market causing a new low? No, I would say exactly what you said. Yeah. Okay. Excellent. Thank you very much. Good. Thank you. Just as a reminder, if you do wish to ask a question, please press 01 on your telephone keypad. Our next question is from Daniel Coria from SEB. Please go ahead. Thank you, operator. Can you hear me, guys? Yes. We hear you loud. Super. Morning. A bunch of very good questions already been asked. Let me add some from my side. First off, on Centralpoint, with the risk of this already being answered in previous calls, could you tell us how much of Centralpoint is Large Corporate and Public segment respectively? Out of SEK 7 billion, SEK 6 billion is basically LCP and SEK 1 billion is SMB. Yeah. Okay. Could you elaborate a bit on how Centralpoint has been affected by the component shortage since you announced the deal basically? We see the same development in the Netherlands or in the Benelux as we do in the Nordics for that. They're, of course, also affected by the component shortage, but also the same strong demand and the same sort of future we see there as well. On this scale, it was sort of on a global question. It's the same sort of pattern in the different regions. Right. In terms of margin impact, et cetera, is it a tangible step down in profitability in Centralpoint, or have you accounted for it in the updated pro forma figures you're closing this presentation material? No, there's no effect in that. yes, it's updated in the numbers there, yeah. Okay. On the OpEx side, there's a minor cost step up in the quarter. You've been quite successful in taking out some costs in the last few quarters. Is it fair to assume that OpEx has sort of capped now and from here on forward it's a bit of pandemic savings coming back and you continuing to invest as you now enter sort of the next phase of the company trajectory from here? Yeah, I think it's a fair comment. Last year was extreme, I would say, down to the kind of short-sighted action to kind of secure the situation. Now we're back to more normal, but with the effects of some of the efficiency projects with the full impact of that in the cost numbers. I think the current run rate is more or less a continuation. That can continue, maybe with the exception that the traveling has been very low in this quarter and might come back a little bit at the summer, but these are relatively small numbers. Right. That's clear. Thank you, Johan. A final one from my side, perhaps touching upon Daniel's last question as well about the gross margin side. How sustainable is this level? Everything said so far, there seems to be a lot of moving parts here. With the service revenues picking up towards the end of Q3, but still some positive mix, et cetera. What should we expect for the coming few quarters? Of course, not considering Centralpoint having structurally lower gross margins. Just Dustin Group as is pre Centralpoint. Well, I think if you look at SMB, we have a very good margin due to the supply situation on hardware. That's a positive sign at the moment, I would say, compared to an average margin. We're probably going to see over time at least a challenge to keep the margins that we have at the moment, while at the same time services have been hit quite hard from a pandemic situation. They are on the low side at the moment. Overall, I would say you can expect margins to not move a lot. If we're successful with services, of course, our ambition is to improve margins. Right. Very clear. Thank you both. Thank you. Thank you. Just as a final reminder, if you do wish to ask a question, please press 01 on your telephone keypad now. There seems to be no further questions, so I will hand it back to the speakers for any final comments. Very good. Thank you very much, everyone, for tuning in today and listening. Just stay tuned for us. If you have any questions, just come back to call or email. Great. Have a good day. Thank you very much, everyone. Thank you.