Yes. Hi everyone, welcome to today's presentation of our quarterly results. We can move on to next slide, please. Fractal operates in the fast-growing PC gaming industry, we have, with our innovative and high-quality gaming products, managed to position ourselves in a premium segment. Our main product categories are today PC cases, power supplies and cooling solutions. Next slide, please. Our net sales in Q2 declined organically, meaning measured in US dollar, by 38% compared to Q2 2020. It's important that our quarterly result is seen in the context of our record-breaking Q2 in 2020. In the second quarter of last year, lockdowns and shelter-in-place regulations rapidly increased interest for PC gaming and acted as a catalyst for the revenues of Fractal Design. Our revenue increased by 100% compared to Q2 2019. Therefore the comparable numbers for Q2 2020 were very challenging. We have seen a strong continuation of interest for PC gaming hardware in the first half of this year. In quarter two, we experienced an increasing negative effect caused by the accelerating shortages of graphics cards. The graphics card shortage, which began by the end of last year, has caused consumers to wait with their purchases and upgrades of PC gaming hardware. This in turn has affected our revenues negatively. Furthermore, the logistical situation in sea freight has worsened during the quarter, and it has both taken longer time and become more expensive to ship containers. In June, a COVID-19 outbreak in Shenzhen, in Guangdong, in southern China, caused the major ports in the area to close down, which delayed shipments from China in June and negatively impacted our revenues in the quarter. It is worth mentioning that due to the relatively big volume of our cases compared to the value, PC gaming case industry is hit proportionally more than other industries by the current situation. We would like to highlight, however, that our measured market shares in Q2 have increased in most key markets compared to Q1, which is a testament to our strong brand and competitive product lineup. The markets where we increased our market share in is, among others, the U.S., Germany, and U.K. Adjusted EBITDA declined versus Q2 2020, which is primarily because of the lower sales volumes due to the mentioned reasons, but also because of lower gross margin and increased costs, which is due to our continued investments in R&D and growing our product line. The interest in high-performance gaming and esport continues to be very high. Hours viewed on Twitch during Q2 was continuing to increase by 26% year-over-year. Next slide, please. Despite a record-setting year in 2020, the interest for PC gaming is continuing to be on a very high level. Twitch is the dominating streaming platform, and measuring viewership hours on Twitch is a common benchmark in the PC gaming industry. During the pandemic, the viewership of Twitch nearly doubled, with a rapid increase starting from Q2. However, the viewership is continuing to be very strong. In the last quarter, the viewership increased by 26% year-over-year, which is a strong indication that PC gamers continue to spend time with their passion even after lockdowns have ceased. The increase has also continued during July. Next slide, please. Fractal remains committed to continue to release award-winning products, and we have in the last year increased our investments in R&D to expand our product range, both within existing categories but also into new adjacent categories. In the second quarter, we released two new power supply, the Ion+ 2 Platinum and the Ion Gold. Our power supply category grew by nearly 30% in the first half of 2021. We also released a new fan series called the Aspect, available in black and white, as well as with colorful RGB lighting. Two days ago, we launched a Torrent series of cases, which is a premium offering with a focus on high performance and airflow. For this case, we developed new unique fans optimized for airflow. Next slide, please. As I just mentioned, we launched a new case series called Torrent about two days ago. This was our first launch of a completely new family of cases in about one and a half years. The reception from media and reviewers have been extremely positive. Below, you can see a few of the quotes from them. This is one of the most successful launches in the history of Fractal Design. We are very excited to see the overwhelmingly positive feedback from the market. It shall be noted that the product we launched this week is only the first in a series of Torrent cases. Next slide, please. Here you can see a list of the more than 25 awards we have so far received on the new Torrent case in just two days, which is amazing, I have to say. Next slide, please. Moving on to the numbers. The graph at the top shows the development in net sales. Net sales in the quarter decreased by 45% to SEK 104 million compared to Q2 2020. We also measure our sales in U.S. dollar as we sell exclusively in U.S. dollars regardless of the end market, and the organic decrease in dollars in Q2 was 38%. Looking at the year-to-date numbers, the decline was instead 20% and 8% organically. The Q2 deviation is mainly explained by high comparative numbers, as the second quarter of 2020 had a growth of over 100%, driven by lockdowns around the world as a result of the pandemic. As Hannes mentioned, the shortage of graphics cards continued to impact demand of cases in the markets and affect our sales. An additional explanation for the deviation in Q2 is that the month of June was affected negatively because of a new outbreak of COVID-19 in southern China, with new restrictions limiting port capacity and delayed transport. Delivery problems continued during July and August, but our good inventory situation in the sales channels means that sales to end customers are not affected. Our sales are driven by retail sales, but may fluctuate slightly between quarters depending on whether our distributors and resellers increase or decrease their inventory. The dynamic is that when the distribution chain sees an increase in demand in the market, they increase their stock, and vice versa. In the graph at the bottom, you can see our quarterly development in sales out to end customers that distributors and resellers report to us, measured in US dollars. Sales out is an important measure that shows the underlying commercial developments. In Q2, sales out decreased by 34% organically compared to Q2 last year. High comparative numbers and shortage of graphics cards explains the decrease in sales out. In July and August, the demand was much weaker than anticipated, affected by the continued shortage of graphics cards. We expect that the shortage of graphics cards will impact our sales throughout the year. Inventory levels in the sales channels were on a healthy level going into Q3, but given the soft start of Q3, they are slightly high in some regions. However, we see a continued strong underlying demand for our products, which will lead to a strong sales development when there is availability of graphics cards in the market. We have a continued strong market position, and as Hannes previously said, we have strengthened or maintained our market shares in all key markets during Q2 compared with Q1, which is a clear proof of the strength of our product range and our brand. Moving on to next page and segment development. We can see that we have the strongest sales in EU with 49% of total net sales, followed by Americas with 36%, and APAC and others with 15%. Sales of cases decreased by 50% compared to Q2 2020. Americas decreased by 63%, EU and APAC and others by 35%-37%. Sales of other products and mainly power supplies decreased by 11%. EU and APAC and other increased sales by 52% and 37%, but in Americas, sales dropped by 66%. Cases stands for 76% of the total net sales in Q2, and other products for 24%. Moving on to the next page and product margin development. In Q2, product margin was 33% compared to 39% last year, adjusted for the received repayment for tariffs of approximately SEK 10 million. The deviation of six percentage points between Q2 and last year is due to less favorable product mix, U.S. tariffs, increased freight costs, and currency effects. Product mix stands for 2% of the deviation and is explained by a larger share of sales of products with lower margin, mainly power supplies. We expect the product mix to show some improvement during H2 due to launches of new cases that have a higher margin than other products, such as power supplies. Re-introduced U.S. tariffs stands for 2% of the deviation versus last year. As we have explained earlier, we have mitigation plans in place, which will reduce the impact of tariffs by working with our suppliers to move some assembly outside China. Due to new COVID-19 outbreaks in southern China, the start of the project is delayed from Q4 this year to first half of next year. Temporary extraordinary high freight cost decreased the product margin by 1%. The freight cost has increased during Q1 and Q2 and was record high in June and affect our P&L when we sell the goods, meaning some time lag before impacting the margin. The freight situation is short-term, and the freight rate is expected to normalize. Currency effect decreased the product margin by 1% and is related to the revaluation of accounts receivables and payables. Let's have a look at the next page and earnings. Adjusted EBITDA was SEK 2 million, and the margin was 1.9%. Year-to-date adjusted EBITDA margin was 12.3%, and rolling 12 months, 14.4%. To compare apples to apples, we need to adjust for the repayment of U.S. tariffs in Q2 2020 of approximately SEK 10 million, which gives an adjusted EBITDA margin of 25% instead of 30% in Q2 last year. The big gap in Q2 versus last year has to do with decreased sales volume, but also lower margin with higher sales of low-margin products, increased freight and raw material costs, and imposed tariffs. To mitigate the increased costs, price increases have been implemented during Q2 and beginning of Q3, and the possibility of additional price adjustment is also investigated. We have good opportunities to largely compensate for the long-term external factors, both by increasing prices, but also by moving assembly from China to a third country for the U.S. market to minimize the tariff cost. The latter will not occur until next year. However, as the freight cost is expected to be temporary, prices won't be raised to accommodate for them, and that is also something general consensus in the industry. Moving on to the next page. Operating cash flow is mainly affected by lower EBITDA. The change in net working capital is related to increased inventory by SEK 21 million, which mainly has to do with the logistical situation and issues with shipment from China, but also refill of new products. Accounts payable has decreased by SEK 31 million due to large payments related to stock building. Accounts receivables has decreased by SEK 54 million due to lower sales. Investing activities amounted to SEK 2.9 million and is related to development of new products. Moving on to the next page and the income statement. As previously presented, we had a net sales decline of 38% organically. The main explanation is tough comparable numbers with plus 100% growth last year. Continued effects from the shortage of graphics cards, but also the COVID-19 outbreak in southern China, which affected our sales in June. We only sell in U.S. dollar regardless the end market, and the same goes for COGS. That is also 100% in U.S. dollars, which gives a certain currency hedging. However, Fractal's reporting currency is SEK, and the numbers are affected by fluctuating exchange rates in currencies other than SEK. Q2 had an average U.S. dollar/SEK rate of 8.4 compared to 9.6 last year. Goods for resale and product margin are, as previously said, affected by sales of lower margin products, imposed U.S. tariffs, higher cost for freight and raw material, and currency loss. Other external costs are in line with last year. Personnel cost is SEK 1 million higher due to hirings, which is according to plan. Other external costs and personnel costs are denominated in SEK to approximately 46%, US dollar 42%, and other currencies 12%. Interest expenses related to the overdraft facility and FX translation effects are the main explanation to the financial net. With that, we move on to the next slide, and I hand over to Hannes again. Thank you, Karin. We have a strong pipeline of new products, we are planning to launch several new products in the rest of this year and also into next year. We, as Karin mentioned, are working on plans to relocate final assembly or production out of southern China in order to avoid the U.S. tariffs. At the moment, we see an impact from the extraordinary higher freight prices on containers, as we have discussed. In order to mitigate the cost of tariffs and increases in raw materials and FX impacts, we have raised prices on most of our products during Q2 and early Q3. For the more long-term and strategic initiatives, we are working with several very exciting ways to continue our growth journey. We want to continue doing what we do today, which is to deliver best-in-class products and be one of the leading brands in our current categories. We can continue to grow in these categories, and we will launch a lot of new products both this and next year. We will expand our product portfolio into new categories. We have identified several adjacent product categories that are interesting for us to expand into and which fits well into our brand and with strong margin profiles. We are currently in the process of developing such products. We want to diversify and improve our marketing efforts, primarily with visibility in streaming. We also want to do geographical expansion in Asia, which primarily is succeeding in China, but also Southeast Asia is an interesting market in coming years. Next slide, please. A brief summary of the quarterly report and outlook for the rest of the year. Our net sales was negatively impacted by the shortage of graphics cards and delayed shipments from China in June. Adjusted EBITDA was lower year-over-year due to the lower sales volumes and product margin. Sales and demand in July and start of August was lower than expected, impacted by the accelerated shortages of graphics cards. The shortage is expected to impact net sales and earnings negatively throughout second half of 2021. The extraordinarily high shipping costs are temporarily impacting product margins. The logistical situation is continuing to be difficult so far in Q3, and our supply chain team is working very hard to manage bookings and freight rates. It is unclear when the situation will normalize, but many believe that it will begin to normalize towards the end of this year. We have previously guided for a small growth or no growth at all in 2021, which is due to the challenging comparables from 2020. Because of the weaker demand seen in the market right now, we are changing our guidance on growth to negative 15%-20%. As a result, a weaker but positive profitability is expected in the second half year. While the current headwinds with graphics card shortages and logistics issues are extreme and never before seen in our industry, they are expected to be short-term, and we remain positive regarding our mid- to long-term outlook and financial targets. We have increased our market shares in the key markets during the year, and with a large number of new products we have in our product pipeline, both in existing and new categories, we believe strong growth to resume soon. The interest in gaming keeps being on a record high level, which indicates a strong underlying and pent-up demand once graphics cards becomes more widely available again. Next slide, please. With this, we have reached the end of our presentation, and we'll open up for questions. With that, I hand over to the operator again. Thank you. If you do wish to ask a 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. We have a question from the line of Simon Granath from ABG. Please go ahead. Thank you, operator. Good morning, Hannes and Karin. I hope all is well with you. Firstly, how well-balanced would you say that your 2021 guidance is? What do you pencil in into your expectation in terms of improvements of the GPU situation in H2 compared with Q2 and the current state? Yeah, we think that our current guidance is balanced. There's, of course, a potential upside if the graphics card availability is improving faster than we think in the rest of this year. Of course, also a possible downside if it continues to be on this level that we are right now. We believe, however, that we have reached the worst part of the graphics card shortage, and that things will start to improve in the remaining part of the year. Thank you. Looking into 2022, could you say anything on how you or other market participants are expecting this situation to develop? Meaning, how is your current conversation with suppliers and other participants currently progressing? You mean in terms of graphics card shortage? Yes. Right. Yeah. We believe, as I said, that we have reached the worst point right now, and that it will start to improve in the remaining part of the year. We see that the big demand that came from mining in Q4 and Q1 and Q2 this year is starting to move away. The mining activities caused a demand of about 1 million graphics cards per month that went into miners', not into gamers' hands. In 2022, it is expected that a general semiconductor shortage will continue. According to NVIDIA's guidance, they believe that it will be better availability next year compared to 2021. Exactly how much better is very difficult to judge, of course. We and others believe that it will be better in 2022. Thank you. That's very helpful. Furthermore, do you see any long-term risk that the demand for PC as a platform will be hurt due to the current shortages, meaning that the anticipated pent-up demand that you mentioned will not be fully materialized? I believe that that would have to be a significantly longer time period where graphics cards is not available for that to happen. Of course, if it would take a very long time, that could happen, but we don't see that as a realistic scenario in the current situation. Thanks. Finally, does the short-term outlook have any impact on your previously communicated expansion plans into adjacent product categories? No. We are currently full steam ahead in our investments in R&D and our expansion to new categories. It's an important part of our long-term growth, and we will continue with that. Thank you so much. Thank you. We have another question from the line of Oscar Erixon from Carnegie. Please go ahead. Thank you, good morning, guys. A couple of questions from me regarding the guidance here for the full year. Should this be seen as the supply of graphics cards actually becoming worse now into Q3? Is it mainly you thinking or expecting it to improve here in the second half? We think that right now in Q3, we are at the worst point, and that it will improve from here and throughout Q4. Understood. Assuming here, lot of moving factors, of course, but assuming at least improved supply of graphics cards in early 2022, let's say first half of 2022, do you think a strong recovery is possible and that you may grow considerably above your long-term target of above 10% growth, and it's growth versus 2020 numbers, feasible, would you say? Thank you. Yes. That's a good question. We believe, and also our industry partners believe, and we have seen this also in our consumer research when reading on forums, et cetera, that there is a big pent-up demand of the consumers that have not been able to purchase in the last couple of months, or half a year even. We believe therefore, that when graphics card starts to normalize, that it will be a significant boost for the market. We think that the possibilities for us to grow significantly higher than the current, 10% plus in our financial target, is very realistic in 2022. Thank you. A follow-up on that. Would you say that type of recovery is dependent on the market, the underlying demand, and the gaming market and engagement being as strong as it is now? Will it be sort of irregardless of that, given the pent-up demand? I think irregardless of that, because you have seen a large surge of amount of gamers that have entered the space of gaming, and that according to the data, are continuing to game even beyond the lockdowns have ceased. Irregardless of that, there is a big pent-up demand that needs to be satisfied. We also believe and see no signs of the gaming interest receding anytime soon. Great. That's very clear. Two questions on costs and margins, starting with the product margin here, 32.6% in Q2, with negative impact from several factors. You speak of a lag effect from increased freight costs. Would you say there's downside here to your historical product margins from increased freight costs, in the second half of this year? How about 2022? Thank you. Yeah. The freight costs impacts our product margins, of course, that is inevitable. We also believe that in the second half of the year, we will have a better mix of products in terms of more cases, which is our high-margin product. We expect those things to largely counterbalance each other. It's likely to be a bit margin pressure compared to first half of 2021 and the second half of 2021. Understood. Just finally from my side, to understand the indications that you gave on the margins here, in the second half of the year. You talk about relatively fixed operating cost base, and some gross margin pressure. Looking at operating costs here in Q2, should we assume that they are relatively fixed at these levels? Do you foresee them growing, in the second half of the year due to your investment into other product areas? Just inputting sort of fixed costs and slightly lower gross margin implies perhaps an EBITDA margin of around 5% or so in the second half. Would be interesting to hear sort of some flavor on this. Thank you. Yeah. We believe that the other, the OpEx cost, the fixed cost for the second half of the year will be largely in line with the first half of the year. Personnel costs will be slightly higher because of the recruitments that we have made. In terms of EBITDA margin, it's likely going to be in the single-digit range for the second half of the year. Great, thank you. That's it from me for now. I might come back with one or two questions. Thank you. Just as a reminder, if you do wish to ask a question, please press zero one on your telephone keypad now. It seems we don't have any further audio questions for now, so I'll hand it to the speakers. All right. Thank you. We have a question through email. The first question is: what can you tell us about factors and timeline for normalization of graphics card availability? We believe that we are in the worst situation right now, and that it will improve in Q4, and that it will further improve in 2022. As mentioned before, there are certain factors that are in the favor of seeing an improvement, such as that mining demand for cryptocurrency is largely vanishing. That sucked up quite a big part of the graphics card production. The second question we have through email is that your sales in the U.S. are in particular down versus EU. What has driven this difference in H1 2021 between EU and U.S. sales? The reason to this is that last year, our increase in sales was largely driven by increase in the U.S. market. Of all our markets worldwide, all markets increased, but the U.S. market and the market in Germany increased the most. For that reason, it's a bigger difference this first half of the year compared to last year. All right. We don't see any more questions through email. We have just one follow-up from Oscar from Carnegie. Please go ahead. All right. Thank you. Yeah, just two quick questions here. Would be interesting to hear regarding freight costs, which have increased 700% year-on-year at least. Could you discuss your freight costs as a share of your average sales price, and whether there are differences here between different product areas, and so what regions it affects as well? Thank you. Yeah. When it comes to the freight costs, actually about 2/3 of our sales, the freight cost is paid by our customers, which is the distributor, reseller that are buying the products from us. In terms of our sales to the U.S., we ship the products ourselves and therefore pay the freight ourselves. It's in that market we see the margin hits from the higher freight costs. In terms of differentiation between different product categories, our cases, they're fairly large compared to the dollar value of them, so they are hit proportionally more than our other categories. The power supplies and cooling products, they have fairly high value compared to the volume, so they are not hit at all that hard. Understood. Just a final question from me, just to understand here the second half guidance. Looking at peers and also suppliers, they largely reiterate the top line guidance here for the year, including Asetek, for example, which I think is a supplier. Could you just explain the differences here for you a little bit, and also talk a little bit about the difference in demand for components and peripherals? Thank you. That's a good question. We don't want to comment too much on our competitors' guidance for this year, but we are quite surprised that they are staying with the guidance for the full year, because we are seeing that Corsair, for example, that they have dropped even more than us in terms of market share in certain regions. In the product categories that we share, they are losing as much as we have. They have a wider product range, however, and the peripherals market has probably a delay in terms of being affected by graphics card shortage. It is not as affected because of different purchase behaviors. We have also heard that the peripherals markets have flattened out, and is likely going to decrease in the second half of this year as well, although maybe not as much as components. Very helpful. Thank you. That's it from me. Thank you. There are no further questions. Okay. Yeah, we don't have any more questions on email either. With that then, I would like to thank everyone for your time and wish everyone a nice day and weekend. Thank you. Thank you. This concludes our conference call. Thank you all for attending. You may now disconnect your lines.