Hello, and welcome to the Jetpak Top Holding Earnings Call for Q3 of 2023. My name is Laura, and I will be your coordinator for today's event. Your lines will be on listen-only. You will have the opportunity to ask questions at the end of the call. This can be done by pressing star one on your telephone keypad to queue in for questions. If you require assistance at any point, please press star zero, and you will be connected to an operator. Today, we have Mr. Kenneth Marx, CEO, and Mr. Håkan Mattisson, CFO, as our presenters. I will now hand you over to your host, Mr. Kenneth Marx, to begin today's conference. Thank you. Yes, thank you. Good morning, and welcome to this Q3 presentation in Jetpak Top Holding. Participants from our side will be Håkan Mattisson, our CFO, and myself, Kenneth Marx. The topics we'll address today is the business highlights, and its financial highlights, and expectations and focus areas for the coming quarters. Then, the session will be ended with a Q&A session, so you have the opportunity to ask any question you would like. First of all, regarding the highlights, quarter three was somehow a challenging quarter. We were met by a decreasing adjusted EBITDA due to worsening market conditions, so we saw, like, a deterioration on revenue across the countries, going from Q2 to Q3. And that means that, looking at the revenues in total, reached a negative growth of 9.2% in total. And that means that our Adjusted EBITDA was amounting to SEK 22.5, which was a decrease of 9 million compared with the same quarter last year. Looking at the reason behind, behind the worsening EBITDA, was mainly the revenue, which impacted EBITDA with SEK 8 out of the 9 million, and also a cross margin impact of SEK 1 million in total. The largest revenue deviation came actually from. It was total 28.5, actually came from Denmark and Europe, with around SEK 9 million each, and then also Sweden, Norway, with around SEK 8 million. The largest decrease within the segment was the decrease on the air segment, which was decreasing with 12.5%, and also with a minor margin increase. The air margin and growth deviation was mainly driven by customer cost focus in Europe. So that means, customers in Europe was, like, selecting more cost-efficient solutions, more deferred solutions, which was like, hitting our European company. And that also boils back to what we also have showed at previous quarter course, that we have a challenge with some of the big customers in Europe, especially on the windmill side, spare part logistic, due to the fact that they are having their cost efficiency program and choosing deferred solutions. Also, looking at Finland and Norway, we were impacted by a negative growth due to the fact that we had less healthcare shipments compared with the same period last year. And especially Finland. Finland was doing a lot of test shipments last year, which are no longer to the same extent. So that had a negative impact on the air segment. The road segment also decreased to 5.3%, but actually improved the margin. And then the reason behind the improved margin on the road segment is the fact that we have seen like a general downtrend due to the current market conditions from our largest customers. As the largest customers are having low margins, that is like, in total, improving our margin or our gross margin, to the 19.7, with 1.4%. But it's obvious that, we were, like, negatively impacted in, both segments by the current market conditions. And what is important to say, and that's also important for the future, is that what is driving the, the negative deviation for Jetpak is that we, that we are, like, impacted on, on volume, but we're not impacted on, on price to the same extent as, as other logistic companies. We continued the surcharge program in both, Denmark and in Europe. And, actually, in Europe, we are following the plan. In Denmark, we see that the pipeline realization is still delayed due to market volatility, so it takes longer time to finalize the negotiations and convince the customers to choose other solutions. We have also seen, comparing ourselves with other players in the industry, that many logistics companies have reported a significant negative growth, both on revenues and profits. So in that way, you will see that they are meeting like the same challenges as we are in Jetpak. And for that reason, we have also started the overhead cost reduction program. It has been successfully executed during the quarter, and focusing very much on both FTEs and the company incentive agreements, optimization of incentive agreements, and also direct and indirect costs. This program is expected to have full impact in Q4. Also part of the reason behind the results report is, of course, that we cannot from one month to the other adjust to. The significant revenue decreased due to the market, but we see the full effect in the coming quarter. We continue during the quarter also to prioritize its ESG activity, and we are especially focused on the drone pilot projects by the benefits provided by AI, and also the utilization of an increased number of electric vehicles, which is also a requirement from some of our largest customers. On the M&A side, we have successfully acquired Buda, the Malmö-based Budakuten courier company. In addition to that, we are also in close discussions with another target, and we expect to reach a conclusion on this opportunity during Q4. I think that was the main business highlights from my side, and then I will hand over the word to Håkan. Thank you, Kenneth. I will then try to put some color to the financial highlights from Jetpak's Q3 2023 interim report. The consolidated total revenue, starting from the top, that amounted to SEK 279.9 very close to 280 million. This represented, as Kenneth mentioned, a revenue drop by 9.2% compared with the same quarter last year. Looking behind the hood or under the hood into the organic growth for the quarter, that amounted to -13.5%. And during this quarter, the figures had an acquired growth effect coming from Budakuten Malmö, which was acquired in May this year. And Budakuten contributed with SEK 5.2 million of revenue. Additionally, Jetpak continued to benefit from an FX tailwind, which also then amounted to SEK 8.0 million, and that came from a strengthened Euro and Danish kroner, with the Norwegian kroner partly offsetting this tailwind as it decreased during the quarter. And that is compared to the same quarter last year and versus Jetpak's reporting currency, stated in Swedish kroner. It is, however, worthwhile noticing that the individual Jetpak countries have a high degree of what we call a natural currency hedging. With that, we mean that since most of each Jetpak country's revenue is matched by operating costs in the same currency. For instance, revenue streams in Norwegian kroner are well met with costs in Norwegian kroner, so we don't have any underlying FX exposure. Kenneth already commented on the underlying reasons for the drop in the segment, so I will just comment on the organic growth or in each segment. Express Air segment, that net revenue dropped by 12.5%, but after adjustment for foreign currency effects, the underlying organic revenue drop for the air segment amounted to 15%. Switching then over to the second segment, the Express Road, there we had the net revenue dropped by 5.3% for the quarter, but after adjustment for both foreign currency and the acquisition effects from Budakuten, the underlying organic revenue drop for the segment amounted to 11.9%. Then looking into the consolidated gross margin for the quarter, that amounted to 29.4%, corresponding to a gross profit amounting to SEK 82.2 million. Further down in the income statement, we come to the indirect cost side, and that is mainly related or driven by personnel costs, not allocated to direct production costs. Those personnel costs amounted to SEK 41.6 million. Also note that during this quarter, no cost accrual for the long-term incentive program, which is called LTIP 2021/2023, has been done. In the past periods, this provision, quarterly provision, has amounted to SEK 2-2.1 million per quarter. Our current valuation also indicates that no further accrual is necessary for this program, which ends by year-end 2023. The second biggest driver of Jetpak's indirect cost is depreciation. Depreciation this quarter amounted to SEK 11.1 million. Out of this subtotal, 64% or almost two-thirds related to the right-of-use depreciation in accordance with the IFRS 16 leasing recommendation. The remainder then of the depreciation being depreciation of acquired customer relations, and that amounted to an additional SEK 1.6 million, plus the underlying, or what I can say, normal depreciation of tangible and intangible fixed assets, including the company's business, JENA. And that amounted to just SEK 2.3 million or 21% of the total depreciation sum. The operating profit for the quarter then amounted to SEK 20.1 million, and the Adjusted EBITDA amounted to SEK 22.5 million. Depreciation on acquired customer relationship of SEK 1.6 million is then added back in this alternative performance measure, Adjusted EBITDA. Note then also that Jetpak regard the cost accrual for this long-term incentive program as a normal operating spend, expense item. Basic earnings per share for the quarter then summed up to SEK 1.25. And there you have the same, diluted earnings per share, as we no longer have any dilution effects, on the profit per share, KPI. Looking then into the cash flow generation, and, cash flow from operations during the quarter amounted to, actually an all-time high level, amounting to SEK 66.6 million. And the increase between the years amounted to SEK 32 million, and that was driven by a very focused work with both customers and suppliers. Among other things, short-term receivables decreased significantly, both in the European and Norwegian businesses. The cash position obviously improved and amounted to SEK 222 million by the end of the quarter. Liquidity net increased by SEK 81 million between the years. Then keeping in mind that, Jetpak since last year have amortized on the loans and refinanced the group, plus acquired two companies for, for our own cash. And on top of this, now also, for the first time as a listed company, Jetpak have a negative net debt position, including then the leasing liability effects, according to IFRS 16. And for the quarter, that, KPI amounted to -0.1x the Adjusted EBITDA, calculated on a rolling 12-month basis. That concludes this quarter's financial highlights walkthrough. With that, I hand the word back to Kenneth for a further comment on the market and overall business trends for the coming quarter. Yes. So looking back at the previous meeting, we were somehow a bit more optimistic about coming quarters, but based on the development we have seen during Q3, we think that also the coming quarter, at least Q4 and also beginning of next year, will be challenging. But we have, like, put a number of cost initiatives in place that will enhance profitability during the coming quarter. So we do expect to see, like, a continued revenue volatility, and we also expect to see, like, continued downtrading in both segments in the next quarter. Anyhow, we also expect to see, like, an improved Adjusted EBITDA compared with this quarter, and looking at the ratio compared with last year. So I think that it's obvious that when we put cost efficiency measures in place during Q3, we did not see the full impact, but we expect to see the full impact in Q4, and also thereby see an improvement in the Adjusted EBITDA level compared to last year. We foresee that Europe will slowly be ramping up based on both their current pipeline they have been building within recent weeks and months, and also their commercial efforts. But the impact from Denmark and the challenges we have in the road segment in Denmark is delayed. It takes longer time to establish new contracts and realize the pipeline. And we do not foresee that we'll see any significant improvement before first quarter of the coming year. We have, we are like carefully monitoring the development, and we also look into further initiatives so we can ramp up if it's needed, based on the future development in coming months. Some of the main activities that we are pursuing is, first of all, to realize M&A opportunities, to strengthen our market position, and also upscale further scale benefits. We're also in the process of introducing new services to ensure organic growth and strengthening our service offering and margins. And that, for example, includes introduction of special solution for spare parts and temperature control logistics, which is really enhancing our commercial platform. In addition, we are like focusing a lot on further optimization of our cost efficiency by automated technology-driven solution, and also improve our capacity utilization in our road segment. We are continuing to use the pricing strategy as an important part of further improving our gross margins, and we expect to see further benefits on that during the coming quarters. Nevertheless, as we foresee a continued, difficult and uncertain market condition, we also expect a continued weak organic development in Q4, which, at this point of time, is expected to be at a level around the Q3 level or possibly slightly better, but that's still to be seen. So this concludes the presentation of our business highlights, our financial highlights, and our expectations for the coming quarters. So I think with this, we will continue with the Q&A session. Thank you. Ladies and gentlemen, as a reminder, if you would like to ask a question, please press star one on your telephone keypad. Thank you. Once again, as a reminder, if you would like to ask a question, please press star one on your telephone keypad. I see there are no questions coming through. As a final reminder, if you would like to ask a question, you may press star one on your telephone keypad. Thank you. There is no question in queue. I'm now handing it back to your host for closing remarks. Thank you. Okay. So, thank you for listening in to this Q3 call, and we look forward to meet you again in after the Q4. So, have a nice day. Thank you. Bye. Thank you. Ladies and gentlemen, this concludes today's call. Thank you for your participation. Stay safe. You may now disconnect.