Okay, thank you very much. First of all, welcome to this presentation of our Q4 report for 2020. My name is, as you heard, Per Sjöstrand. I'm CEO, and with me today is Robin Boheman, our CFO. If we go to slide number two, I will give you first a short update on us. We are one of the leading installation groups in the markets of both Sweden, Norway, and Finland. A pan-Nordic company. Our main area of operations is installation and service of heating and plumbing, electrical ventilation, industry, cooling system, and then from last quarter also, the area of technical consulting. I will come back to that. The group now consists of some 85 subsidiaries, and we are nearly 3,900 employees. We have a highly decentralized structure. We are supported by a small central organization. As you will see, we have a strong profitability, and we have delivered high margins over time. We can go to slide number three, some key financials. As you also can see there, we have surpassed sales of SEK 7 billion on a 12-month rolling basis, along with adjusted EBITDA of almost SEK 625 million, and that gives us an adjusted EBITDA margin of 8.5%. We also have a solid order backlog. We will come back to that also. At just over SEK 6.6 billion. Going to slide number four, some highlights from the quarter. Looking at the fourth quarter, we can see that there has been a continued high rate of growth. You can also see we have a good profitability. Adjusted EBITDA for the quarter was approximately SEK 193 million. Gives us an adjusted EBITDA margin of 9.3%. Organic growth was high, 8.1%, and cash flow was very high, I would say, SEK 277 million. I'm very pleased, I must first say, with the result for segment Sweden. I will say also that we have proven that 10% is really achievable. I will also say that the rest of Nordic is still performing somewhat below the desired level. Despite the ongoing pandemic, we are able to conclude that we have done very well in the quarter, and I will give thanks to the adaptations we made to the business for that. The fourth quarter was particularly exciting for us. We launched our new discipline and business area, technical consulting. We also expanded our Industrial business area, and we will come back to both of those. In summing up the year, we are proud to report that we have added a total of 27 Sustainable Instalco projects, most of which were added in the fourth quarter. My CFO, Robin, will come back to that later on. Moving to slide number five, where we net sales increase by slightly more than 26% to SEK 2.1 billion. During the quarter, we made four acquisitions, where the combined annual sales is assessed above SEK 450 million. Organic growth was high at 8.1%. As I always say, you should not look into quarter by quarter regarding organic growth. You should look at least on a yearly base. I have said it before, and I will say it again. We can move to slide number six. As I mentioned earlier, our order backlog is very solid, just over SEK 6.6 billion, and that corresponds to 93% of our annual sales. I'm very satisfied with that. I will also say that despite the pandemic, we are taking in many new orders and signing new contracts, most of which are medium-sized projects in the range of from SEK 0 up to SEK 75 million. That's within our strategy. During the quarter, as I said, we acquired four new companies, which of course add an exciting dimension and contribution to our order backlog as well. As I said, we will come back to that. Slide number seven, if we change that. Thank you. I will give you some examples of new projects from the quarter that I like to highlight as great examples of how we work. The first is our Norwegian company, Romerike Elektro in Oslo, and our ongoing long-term collaboration with the construction company Veidekke. They have signed a contract with order value of over SEK 40 million. It pertains to electrical installation at the new apartment complex, Løren Botaniske in Oslo. That project has a very high environmental profile, and I'm very proud that we could take that project on. The other is our Swedish company, Elkontakt, which has received an order for project planning, delivery, and installation of the electrical power system in conjunction with expansion of Mölndals sjukhus. The assignment will be carried out as a collaboration project together with construction company ByggDialog and Västfastigheter. I'm particularly delighted with the third example, as you see here, which comes from Finland. Not only is it a confirmation that the market for new investments in Helsinki is strong, but also a good example of how well the collaboration between our Finnish Instalco companies is working. Our companies, LVI-Urakointi Paavola and Twinputki in Finland, have won a contract to collaborate on the heating and plumbing and sprinkler system in conjunction with the expansion of Keilaniemi shopping center near Helsinki. With that, I think we can go to slide number eight to talk a little bit about the technical discipline, technical consulting, and also expansion of our industry discipline. During the fourth quarter, we started up a new discipline and business area, technical consulting, where we offer project planning. Here we see a great potential to develop the installation and construction sector by integrating project planning with technical execution and service. With our own technical consultants, we will be able to get involved at an even earlier stage, which is important, with a wider offering to even more customers. It's a move that brings project planning into the realm of the installation sector, which is where I feel it belongs. Our technical consulting team consists of engineers with expertise in electricity, ventilation, heating and plumbing, industry, and fire protection, as an example. Also, the core business here is project planning and design. We offer a range of other services, including inspection, coordination of installation work, environmental coordination, risk management, cost estimates, and surveys. Our subsidiary Intec is a key part of all this, and it currently has around 100, I think more today, 120 technical consultants working throughout most of Sweden. We also anticipate that our technical consulting area will make a significant contribution to raising our margins. With that, I will hand over to Robin, a little bit on our industrial discipline to talk about that now. Yes. Thank you, Per. Just like you mentioned, I think this is some focus areas for us at the moment. As you can see in the fourth quarter, we have done some efforts to expanding our Industrial business areas, and as you will see on the following slide as well. Just going into this briefly is that we now have seven companies in total within the industry, contributing some SEK 700 million on a yearly basis in turnover. We also see very good growth potentials in these companies and also the possibility of expanding. We see that these companies are more focused on the much more heavier and also technical industrial installations, both on land and also on water with our subsidiary, Mesab, for instance, being more based on the marine side. If we look at next slide, please, slide nine. We also have two good examples here of Selek in Avesta, Sweden, which are specialized in installations of electrical power and electrical instruments in the industrial environment with large customers such as, for instance, then Coor, Stora Enso, Boliden, Northvolt as some examples, with an annual turnover of around SEK 130 million. We also acquired in Q4, HP Welding in Sundsvall, which is, as the name says, a welding company, which does mainly manufacturing welding and assembling of boilers and pipelines. Large customers as Boliden, SCA, Valmet as a few examples, with a turnover of roughly SEK 90 million. Like I mentioned before, we now have seven companies within the industry, and we already now see some synergies being done between these companies. We are really looking forward to see where this will take us. If we move into next slide 10 then, please. As you can see here, the coronavirus pandemic hasn't really impacted the rate of acquisition for us. We made four acquisitions, as Per mentioned before, in Q4. Three out of the four were in the industry sector, and also one acquisition in Norway on the plumbing side. Total for the year, we sum up 2020 as a really good M&A year. We did 18 acquisitions. We totally acquired an annual sales of SEK 1.4 billion, which is a very strong year for us. We can also conclude that our pipeline is still strong. There are a lot of possibilities here. There is still a high growth potential through acquisition, both in Sweden and the rest of Nordics. Now also with opening up these two new areas, we all see new opportunities here. We can also conclude that we still have some white spots within the areas that we are to become multidisciplinary, which is always a target for us. If we move into next slide, please, slide 11, and talk a little bit about the segments that we have. We have segment Sweden, which is, as Per mentioned, doing tremendously well, also proving that there is a possibility here to make the 10% in EBITDA margin. There is a sustainable demand for technical installations within Sweden. We can also see here that the organic growth is very strong. What we are especially, how should I say, proud of is the growth in the order backlog, which you see is 44%. 20% is acquired and 20% is by ourselves, which is also giving us the opportunity here to continue the growth within Sweden even next year. Really good, strong, solid performance from Sweden. If we move to next slide, please. Slide 12. We see here, as Per mentioned, other Nordics are performing okay, but not according to the Instalco standard. We're a little bit disappointed here. We have a growth in the order backlog, which is very positive. We see that closing down of especially Norway, but also Finland due to the pandemic has affected us, especially a few of our companies. We also have some internal work to do here as we talked about on the last call for Q3. We are, I would say, on track of the action plans that we set off in Q3. It will take some time, as we mentioned in Q3 as well. We need to finalize the projects that we have in the order book and kind of start on new. We see that we are progressing well in Norway, and according to our plan. If I could change to next slide, please. I would like to just talk to you guys too briefly about our Sustainable Instalco projects. As Per mentioned earlier, we did 27 Sustainable Instalco projects last year, which is higher than what we expected. Most of them came in quarter four. I would say that the launch of this has been very well received by our subsidiaries, but also of their customers and the end customer as well. We're very pleased with how this has rolled out. Just to give a brief summary of what it is about is that the sustainable Instalco project consists of that you have to meet six specific sustainability indicators. For example, that you must meet the requirements on health and safety and safe employee. All our suppliers need to sign the Instalco Code of Conduct, and you also have to demonstrate that this is a climate-smart project, as a few examples. This certificate is then, so to say, a quality stamp for both the project, the customer, and Instalco, that we can deliver sustainable projects as well. If we change to next slide, please, slide 14. We're always striving to help the customer to lower the environment impact via water savings, energy consumptions, along with high environment awareness. Here you see a few example of projects that we do to help the clients, and be able to achieve a more sustainable future as well. We strive to give our customers the knowledge that we have internally here. Some examples here are like LED lights, charging stations, heat pumps installations, solar panels, for instance, to name a few. This is, of course, ongoing and always on top of mind when we do projects as well. If we change to next slide, I would just like to summarize a little bit of the financial target and the dividend policy. You've seen this slide before. This time we sum up the year as well, and as you can see, growth-wise, we are well above the 10% that we have as an internal target over this cycle. This year, we came up to 25.1%. We have the margin, adjusted EBITDA margin of 8%. We were able this year to come to 8.8%, same as last year, where the capital structure over the adjusted EBITDA shall not exceed 2.5x Net debt. We are at 1.2, so we are well equipped financially to continue our M&A journey as well. Cash conversion, we were able to reach 109%, which is one of our highest rates so far. Dividend-wise, we are giving out roughly 30% of our net profits, and that will calculate to SEK 2.70 per share this year. It's also a good increase from last year. With that, I would like to leave over to you, Per, to summarize. Thank you, Robin. As you can hear here, Robin is all over the table. He's talking about the industrial segment, he's talking about M&A, talking about sustainability and our numbers. Thank you very much, Robin. You have done an extremely good job. Slide number 16, summing it all up, it has been an excellent year overall, I would say, and a great fourth quarter, as you have seen, with stability, high profitability, and a very high cash flow. Despite this pandemic, we have been able to successfully adapt, implementing our projects and assignments with the same quality, I would say, and tempo as before. Thanks to our structure, we have enormous flexibility and the ability to adapt to changes in the market situation. We did a very good job in that. We had an exciting fourth quarter expanding our Industrial business area, as you heard, and also establishing our new business area, Technical Consulting. I would also add to that, of course, that it is still difficult to assess the future market with that. You have to say that because, of course, we don't know exactly what to come. As you know, I like to wrap up these meetings with reference to a song title. Next slide. Yeah, next slide. It's slide 17. This time, I've chosen Tina Turner's hit song, "What You Get Is What You See," from 1986. That title corresponds very well to Instalco and what I usually say. You get exactly what you see from Instalco. What I mean by that is that we constantly have been delivering our promises to the financial market. We apply a long-term approach to running the business, one that is sustainable over business cycles, and resilient not only when times are good, but also when the market conditions become more challenging. With that, I'd like to thank you all for joining in on this call, and I now like to take your questions, please. Thank you. We have a question from the line of Stefan Andersson from SEB. Please go ahead. Your line is now open. Hello, Stefan, your line is now open. Stefan, put un mute on your device. Hello, Stefan. Do you have your line on mute? Hello, can you hear me now? Yes, we can hear you now. Oh, thank you. Good. Okay. Hello, thank you. Taking my questions. A couple of questions on the market there. First, what's your experience? It's a fantastic quarter. We don't see anything of that now. Talking to friends with Bravida, they've been complaining a little bit about price pressure in the market, that there seems to be some players out there hunting for volumes. We heard that in Q3. They talk about it in Q4 as well. What's your experience there? Do you see anything of that at all? There's always, what you call, high pressure on the price level on the market. Maybe you can see that more in Stockholm than other places in Sweden and Norway and Finland. Stockholm has been in a little bit tougher situation the last quarter or maybe the last half year here. There's always pressure on price, I would say. 50% of our total revenue comes from partnering or services, and in that field both partnering, of course, and service, we can't see any changes. Yeah, it's both ways, and maybe in Stockholm you can feel a little bit higher pressure on the price. I think in general, we will not complain. A little bit on the segments here. I don't remember the full split on your segments there. I would guess that some of the little of a slowdown on the commercial side when it comes to building office space there, but a very hot area nowadays, not in 2017, but nowadays in talks. The residential side, where rentals have picked up considerably this year in starts, and now we're seeing also the co-ops picking up. JM, which is one of your partners, they have extremely high ambitions for 2021, moving from 3,000 in production to 3,800. That's quite a big movement. I guess you should benefit from this, but is that something you're also seeing or am I exaggerating the positive here? It's also a long question. I think there's a lot of activity out there. There's a lot of plans, renovation sites, there's a lot of activities in offices and also, as we used to say, in areas like hospitals and new apartments. The activity is high. That's different from when we talk about price pressure, because activity means that there's a lot of plans that can be right around the corner, but that can also be for longer terms, new areas. The architects we can see now is having more and more work to do. We can see that our consultant part also, they are increasing the activity there. It will come to an increased market. The question is when it comes, and my gut feeling is that maybe it's a little bit tougher now in quarter one and quarter two, but the market will come up, and we will see a very growing market in all three countries in fall, I think. You saw also that our order backlog situation is very good, so we can live on that, so to say, for almost one year ahead. Also we have a good pipe. Robin can give you more details about that. The pipe also consists, of course, of the backlogs. I don't know if that was an answer to your question. No, I think it was actually more than I asked for, so that was good. My interpretation is that you're saying it's a little bit challenging in Q1 and Q2, and then it's easier towards the end of the year. That's perfect. A shorter question then, what is the number of outstanding shares by the year-end? Sorry, once again, the number of outstanding? Shares. Shares. You mean the dilution, or what was it? No. You can email this, but in the report, you have the average number of shares during the quarter, and of course, especially in the year-end, I'm interested in the number of outstanding shares as of the end- Okay. of the quarter. It's just because you do quite a lot of acquisitions where you hand over and give out shares. It's just for my models. Yeah. But you can- Okay email that. Absolutely. Yeah, because I have the average of 51.9, and I think it's very close to that number, but just wondering. It is very close, and just for the rest of the people listening in, there's been very little dilution in Q4 due to the fact that it's actually a few of the companies that we bought have bought shares over the market instead of getting them from us. Good. Perfect. Then on that topic, with the acquisitions you've done, your earn-outs are of course coming up as well, and you're showing that clearly. Just a question there, in the earn-out, is that all cash or could there be a share component in the earn-out as well? Earn-out is all cash. Okay. Good. That was all from me. Thank you very much. Thank you. Thank you. That's all. Thank you. Now there appear to be no further questions. I return the conference to speakers for any closing remarks. Yeah, we have two questions from the web. The first one is how our subsidiaries is handling the price pressure and try to stay away from the price competition. Okay. On a local, I think we are one of three largest companies in every local market, and we participate in almost every tendering that is. I think that so specialized that we are in different fields, I think we can avoid a lot of those general price pressures that is on the market. We are specialized, we are there out in every corner of Sweden, Norway, and Finland today. We don't have to compete with everyone else in all projects. I think that's one of our strategies as well, to avoid price pressure. The other question is about the installation business in the future and what you think there, and more concrete, if you think that the construction companies will take on the installation business or if it will be separated. If they want to take over it. On the contrary, I think we will take a heavier and heavier or larger and larger part of the total cake there. I think that in the future, our end customer will have separately, what you call it? They will send out tenders separately. Separately, yeah. One for construction and one for installation. Exactly. We can see that tendency on the market. They are doing it today, and I think that we grow that part. Also partnering, we talk a lot about partnering, and that's also an angle of that. We are having, I think 30%, 35% of total revenue or the backlog is in what you call partnering. Partnering is, we also call it early involvement, then we sit side by side or the same side of the table as our end customer, and we are sitting alongside with the construction companies. I think that's the future. Maybe you can also add that a lot of the construction companies have tried to have installation business within their company, and all have, so to say, basically failed and sold off their business. I don't even think there are any large ones left. They've all sold it off. Yeah, they were carved out a couple of years ago. Okay. Okay, thank you very much for joining in, and looking forward to the next quarter here. Thank you very much. Thank you. Bye-bye. Bye.
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