Thank you. Good morning everyone, and warm welcome to our quarterly presentation for the fourth quarter, but also the end year results for 2021. Together with me today, as always, our Group CFO, Stefan Nelson. Good morning, Stefan. Good morning, Gustaf. Good morning. First of all, let's start off with LeoVegas celebrating 10 years. Just a couple of weeks ago, the twelfth of January, LeoVegas turned 10 years. An amazing milestone and extremely fun for me and my co-founder Robin Ramm-Ericson to see this company growing up. A lot of things have happened since we founded LeoVegas. This picture is filled with a lot of happiness and joy when we rang the bell at Nasdaq and completed the IPO of LeoVegas. One of many milestones. Both the company and the industry have evolved tremendously since then. Today, the group are more than ready to take on another 10 exciting years. Back when we started, LeoVegas was one brand, one market. We're operating on one license with a small team. Today, we have built an in-house, fully scalable PAM, that's a tech platform. We are in the forefront within the payments technology with our open banking solutions in this industry. We've got a multi-brand functionality, and we are in multiple markets and jurisdictions. We've done some M&As, and all of this is driven by our fantastic employees, supported by the greatest and latest technology, keeping us in the forefront, delivering the best mobile experience out there. What does the future holds for us then? Well, among other things, our U.S. expansion, extremely interesting, our increased focus on sport, and we also have started to build our own games, and of course, new geographies and brands. There is much more to come, and we all build this with a mobile DNA. This makes me very proud, and I think we are in the best shape ever to continue to expand LeoVegas. Again, the roaring lion is ready for another ten years. Our Q4 highlights. In the fourth quarter, our revenues amounted to EUR 98.2 million. Our growth was flat, but adjusted for FX, it ended up in a decline of 4%. Excluding Germany and the Netherlands, we grew 26%. Our EBITDA was EUR 11.6 million. This is despite the high level of investments in a number of important strategic initiatives, and that the Netherlands, which was a market with a high margin, is temporarily closed until we achieve our license. Due to this, I'm happy that we managed to keep our profitability. 74% locally regulated and taxed revenues in Q4. This is a very strong number and shows the high quality in our revenues. Over time, this number will increase further due to re-regulation in more and more markets. Depositing customers, a slight decline compared to last year. New depositing customers, similar development with a small drop to 172,756 new depositing customers. But it's always the quality of the customers that is the most important. For the full year 2021, our revenues grew to EUR 391.2 million, and that's a growth of 1%. EBITDA amounted to EUR 44.6 million, and our new depositing customers was 724,990. Now this slide shows our revenue since launch, and almost all our markets have continued to develop well. We have some negative impact from markets with external turmoil and/or conservative re-regulations. However, in stable markets, we are performing well and are outperforming our competitors and gaining market share. In a stable environment, LeoVegas are the winner. We also continue to grow rapidly in North America with our Canadian business. Let's have a look at our product mix during last quarter. It's encouraging to see the sports section taking a larger piece of the pie, all according to our strategy. The Casino Classic, this is basically our slot games, 74%. Live Casino, 14%, and Sports, 12%. A lot is driven by Expekt. Really strong. Business update. The Nordics stands for 50% of group's revenues. Another all-time high in Sweden. Expekt continued to deliver exceptional growth. We have actually quadrupled our revenues since the acquisition of Expekt. The temporary restrictions were removed the fifteenth of November last year, and the government has a proposal to introduce B2B licenses for 2023. I think that's also very encouraging for the market here in Sweden. Other Nordics. Finland introduced a marketing restriction for online gambling across all product verticals in January this year, and LeoVegas has adopted these restrictions in Finland. Stable developments in the other Nordic markets. The rest of Europe stands for 29% of the group's revenues. The Netherlands, since 13th of September 2021, LeoVegas has ceased services for Dutch residents until a Dutch license has been awarded. The group, we are about to apply for Dutch license here during Q1. Rest of Europe, strong development in Italy and Spain. Or we're also shifting focus from markets with external turmoil to other markets, and that has been a very successful strategy. As an example for that is Germany. When everything happened in Germany, we shifted off to Italy and Spain, Canada, and some other countries. This is a result of that. LeoVegas are very adaptable. Rest of World stands for 21% of the group revenues. Canada, again, strong performance with high double-digit growth, and we have applied for a license in the state of Ontario. The latest update is that Ontario will become a regulated market the fourth of April this year. It's a healthy regulation with a gaming tax around 20% of the GGR. When a market regulates, it means that we can utilize all the toolbox, all the marketing in that market. Other parts of the world, most key markets in the region continue to deliver a solid growth. A little bit more here on the North America and Canada then. LeoVegas, we are the number three casino brand in Canada. We've been in Canada for a couple of years, and we have applied for an Ontario license for both the brands LeoVegas and Royal Panda then. Canada was 13% of the group's revenues in January. Very strong. Ontario is also seen as the fifth state for online casinos in North America, meaning that the American operators, when they are looking to expand, they're really looking to Canada as well, and they see it as one continent, which it is. I think also we have valuable knowledge and experience from Canada now when we are expanding into the U.S. and opening up in New Jersey, and that's extremely valuable for us as a group when we are entering the U.S. market. U.S. expansion, it's on track. New Jersey, as mentioned, will be the first state for LeoVegas. We signed an office and recruitment of a local team is ongoing. We are about to certify our own PAM, our Player Account Management system. It's ongoing and according to plan. We also have started to secure further expansion into new states in the U.S. A couple of other things is that our subsidiary, our game studio, Blue Guru Games, also are expanding, and will launch in U.S. during the year with their games. Within LeoVentures, we have a company, CasinoGrounds, and they're already delivering MDC's to selected operators in the U.S. We already have some presence in the U.S. A few words around the products. LeoJackpot, which recently hit SEK 100 million, so EUR 10 million, are to be introduced in the group's other brands. We also added casino to the Expekt app, which will boost the revenues for Expekt even further. We didn't have a casino in the app previously, but we do. Now we have, and that will boost the revenues. Also very encouraging for that. 55 exclusive game releases in 2021, and there will be an even higher pace during 2022. We will have an increasingly improved Live Casino offering, including native speaking tables in LATAM, a new supplier launched in Denmark as well. A further rollout to enhance the real-time message system and unique user journeys throughout our services. Also some other things here. Blue Guru, as mentioned, which is within the Leo Studios, our studio that are creating our own games, are soon to go live. We started Blue Guru last year, and it's been working hard to launch the first game. Blue Guru will produce both exclusive titles for the group, but also to offer their games on a B2B services. The first game is coming soon and will be called The Golden Lion, of course, and it will be a LeoVegas exclusive game. Then the second game, Neon Lion, will be offered to the entire market. We will be able to release two games per month, which is very good for a new studio like this. I'm very impressed by the team and the synergies and knowledge sharing within the group. As I mentioned, also launch in the U.S. during 2022. All in all, I have high hopes for Blue Guru and that Blue Guru will deliver in the coming years. Then to end off with, strong start of Q1 with EUR 35.5 million in revenues and a growth of 9% compared to January last year. If we then exclude Germany and Netherlands, we managed to deliver a growth of 24%. I think that reflects a strong momentum in our underlying markets. With that, I'll leave to you, Stefan, to run our business KPIs. Thank you, Gustaf. Let's move over to the KPIs and financials, starting off with our customer base. In Q1, our new depositing customers decreased 5% year-on-year and 8% quarter-on-quarter. The decline is related to that we've shifted and shut down a few channels where we have not seen good ROI. If we look at our returning depositing customers, we have seen an increase by 1% both year-on-year and 1% quarter-on-quarter to a new all-time high level. That is achieved despite the impact in the Netherlands, where we lost a few percent of our customer base overnight. That means that in total, our customer base has declined 1% year-on-year and 3% quarter-on-quarter. If you look to the right on the page, you can see our average customer spend, and the average play value is unchanged year-on-year and has an increase of 2% quarter-on-quarter. The long-term trend where we've seen it flattening out are at a bit lower level than in the past is explained by a larger share of leisure players as well as a shifted geographical mix. If we move over to the next page, our deposits were down 1% year-on-year, but were up 1% quarter-on-quarter. The increased deposits shows the underlying growth of the business with the quarter-on-quarter growth despite the closure of the Netherlands market. NGR decreased 1% year-on-year and 1% quarter-on-quarter and follows the deposits fairly well. The difference being the game margin that increased to 4.3% versus 4.2% in the prior quarter, and that's above the historical average level. That reflects primarily a change in product mix where sports is bigger than it has been in the past. Meanwhile, our hold decreased slightly to 31%, and that's in line with our long-term historical levels. We have a look at the marketing customer acquisition costs on the next page. We had a marketing spend of EUR 33.8 million in Q4. The marketing cost in relation to revenues, however, decreased to 34.4%, and that's lower than both the same quarter last year and compared to the previous quarter. That reflects an increased marketing efficiency. We have still maintained a high level of investment in a number of our markets where we see good opportunities, but we have also cut down on some investments in certain channels and markets where we don't see the same ROI. All this means that our customer acquisition cost has decreased 3% year-over-year. We move over to the financials on the next page. You can see our EBITDA over time. Our reported unadjusted EBITDA in Q4 was EUR 11.6 million, as Gustaf mentioned before, and that reflects an adjusted margin of 11.8%. We had no adjustments to speak of in the quarter. If you have a look at our long-term trend, the last 12 months EBITDA, it was flat versus the quarter before. If we have a little closer look at the EBITDA build-up in Q4 versus the quarter before, and what has driven the EUR 11.6 million in profits, you can see a small decrease in our revenues by about 1% compared to Q3. We're paying more and more gaming taxes. The gaming taxes increased by EUR 1.4 million compared to Q3. Worth mentioning again is of course that we have all-time high share of revenue from regulated and taxed markets in the fourth quarter, 74% versus 66% a year ago. Meanwhile, we of course decreased the marketing spend compared to the previous quarter according to plan. We have seen a bit of an increase in operational expenses, somewhat higher, I would say, than normal, which is due to costs related to certain strategic projects. Worth mentioning here is that we have about EUR 0.3 million directly related to our upcoming U.S. expansion. Our personnel costs increased a bit from the previous quarter. That relates partly to seasonality, but also to a bit of an increase in our headcount, which is also according to plan. We look down the P&L on the next page. You can see that both reported and adjusted EBITDA was at EUR 11.6 million as mentioned before. Meanwhile, our adjusted EBIT for the period came in at EUR 8.5 million, and that excludes amortizations from previous acquisitions. The reported EBIT of EUR 6.1 million includes EUR 1.7 million of depreciation and amortization. The net financial items we have during the quarter primarily relate to our outstanding corporate bonds. We also had a small share of profit after tax from associated companies, which relates to our minority stake in BeyondPlay, which is going to launch later on this year. This leads us to an adjusted net income for the period of EUR 7.0 million. Sorry, EUR 6.6 million, sorry. Taking the next page on cash flow. Cash flow remained strong for the group. We had a cash flow from operating activities before change in working capital of EUR 11.1 million, so quite close to our EBITDA during the quarter. Meanwhile, our working capital had a negative impact during the period. As we talked about many times before, it can be volatile from quarter to quarter. In Q4 specifically, we had extraordinarily high payments to suppliers, and this is because we are now in January switching to a new ERP system, so we chose to do a lot of payments at the end of the fourth quarter instead. During Q4 also we made share buybacks. We also paid out our quarterly dividends. That means about EUR 6 billion of cash shifted to our shareholders in different ways. It leads us at the end of the quarter with a solid financial position. We have a cash at hand of EUR 75 million, excluding our player balances, the cash position is at EUR 55.2 million. If we have a look at our financial position a bit more in detail, as I said before, we have about 100% cash conversion during the past 12 months, which we think really is good. Our current net debt is at 0.3x our last 12 months adjusted EBITA, and that's well below our leverage target of 1.0. There was a slight increase in net debt in Q4 that follows the dividends and buybacks during the period. Again, we're still in a very good shape. That leads to the board's dividend proposal for 2021, where the board proposes a raised dividend of 1.68 SEK per share in total. That's compared to 1.60 SEK last year, and it implies an increase of 5% year-over-year. The proposal is that just as last year that the dividend is to be paid out quarterly to shareholders. With that, I'll leave it back to you, Gustaf, for some closing remarks. Thanks, Stefan. Let's summarize our Q4 and last year then. Q4 revenues were EUR 98.2 million. That's unchanged more or less year-on-year, an organic growth of -4%. Excluding Germany and The Netherlands, our revenue increased 26%. EBITA of EUR 11.6 million. That's on a close to 12% margin. Another record quarter in Sweden. North America expansion on track with license application for Ontario and upcoming launch into New Jersey going according to our plan. Since the 30th of September, LeoVegas has ceased services to Dutch residents until our Dutch license has been awarded. We are about to apply for license during Q1. EUR 35.5 million, and that's a growth of 9% and 24% growth when excluding Germany and The Netherlands. With that summary, I would like to open up for the Q&A session, please. Our first question comes from the line of Oscar Erixon from Carnegie. Please go ahead. Thank you, and good morning, Gustaf and Stefan. A couple of questions from me, starting with the impressive performance in Sweden here. What do you see ahead for Sweden in terms of growth here in 2022, given your momentum? Also from 2023 when the quite welcome B2B licensing starts, do you expect that to have a clearly positive effect on channelization? Hi, Oscar, and good morning. Yes, we see good momentum in Sweden. It's driven both by our casino brands, LeoVegas, primarily GoGo Casino, et cetera, but also of course by Expekt. We quadrupled the revenues in Expekt since we acquired Expekt in May last year. It's quite an amazing journey that we're doing with Expekt, I would say. We see good growth and good momentum in those brands for the Swedish market. Sorry, what was- Great. Just a question on the B2B licensing due to start. Oh, yeah ... as I explained in 2023. Do you expect that to have a positive effect, a clear positive effect on you and channelization? Well, yeah, I think so, definitely. That's been an ongoing work for quite some time with the trade organization here in Sweden and the other interested parties. It's very good that the B2B suppliers need to have a license for the Swedish market. That will increase and will be very positive for the channelization in Sweden. Correct. Great. Then turning to Ontario, quite rational regulation, I think, and interesting to hear how it develops. What's the situation now? What's the access to key suppliers been in Ontario? Have you seen any negative temporary effect before the April launch? Ontario, they are, they've been working very constructively with the industry. It's some of the former Danish regulators that are driving the Ontario re-regulation, actually. It's a European-focused to that extent, to some extent. It's a very good regulation. It shows how actually it could be very constructive for a country to regulate in a good way, taking care of customers and so on. Of course, we're looking forward for the regulation, whether we will be able to use all the toolbox, TV advertising, radio advertising, Google, Facebook, et cetera. That will be really good for the market in Ontario to start off with. Understood. On U.S., are you still on track for a Q2, Q3 launch in U.S.? Do you see any potential risk for any hiccups with the PAM certification? No, we are definitely on track and, yeah, all going according to plan. Okay, great. Then just a final question from me on marketing. What can you say about the expected marketing relative to sales here in 2022? I mean, it was around 37% in 2021, but you mean at 34% here in Q4. What can we expect in 2022? And also will you separately report your P&L sort of in the U.S. when you launch that? Thank you. Hey, Oscar. Stefan here. I think to start off with, I'd like to kind of refer back to a couple of quarters ago where we had very high marketing spend. We said back then that it was a bit of a temporary nature related to first of course, the expected launch and also that we wanted to invest a bit to kind of get out of the German, you know, impact on our revenue since we know our business model scales at higher levels. So it was a bit extraordinary high a few quarters, and now it's coming back. Now it's come back now in Q4 to, you know, more normal levels. We're always a bit cautious of guiding for the future since we try to be data-driven and opportunistic when we see good returns. All in all, we think that these levels are more kind of normal. We of course have the U.S. launch, and then we have Ontario. We are applying for a license in the Netherlands, so it will be a bit you know up and down depending on new launches, et cetera. When it comes to the U.S., your question there, absolutely, we intend to report that separately to help you guys and our shareholders to understand what we are investing in the U.S. I think we see that as a you know as positive that we separate that out of the ordinary costs. Excellent. Thank you very much, guys. Thanks, Oscar. Thank you. Our next question comes from the line of Richard [Ink] from EPP. Please ask your question. Morning, guys. Richard from Enternere here. My first question is regarding the customer acquisition cost. What sort of trend have you seen there, and do you think that it will continue developing this trend? Hi, Stefan here again. I can take that question. It's a good question, and of course depends on different markets. I think in general, we believe that the customer acquisition cost will kind of go down over time a bit. It also reflects kind of more leisure players in general in our markets where the player value is a bit lower. That usually also means that the cost should go down. Of course it will, it's different in different markets. As we all know, the U.S. acquisition costs are very high. On the other hand, the player values are very high right now as well. It's hard to predict any big shifts, but when we of course show you guys an aggregated number. I think the long term trend is that customer acquisition costs should go down. It would be hard for operators to compete if they can't have an efficient track. A follow-up question on that is if you're looking at the Canadian markets, do you see the same customer acquisition cost there as in the U.S. or are they on a substantially lower level? Not yet we haven't seen that impact. I mean, let's see what happens when the market opens up in early April if we'll see a marketing frenzy short term. That could be the case for a short period of time. Our feeling is that in the casino segment in general, it's a more rational behavior. We've seen a bit of irrational behavior in sports betting when we look at some of the U.S. states. We don't know yet, but in casino so far we haven't seen any indications that it's not gonna be, you know, profitable investments in acquisition. Okay, cool. My next question is regarding the trading update. Is there any certain market that has driven this growth? Is it efficient marketing that is driving it as well? I think, I mean, many of our markets are doing well. They're performing well, in general. I think it's also a bit of if you look at growth comparables are a bit easing a bit as well. In general, we have a good momentum. We mentioned Sweden, Gustaf mentioned Canada, several strong markets. To mention a few others, Italy, Spain. As always there are markets that are not performing as well. I think we've felt that the full year now that we have a good underlying momentum. It's been Germany and then the latest hiccup in Netherlands that's been holding us back a bit. Okay, thanks. Thank you. Thank you. Next question from Martin Arnell from DNB. Please ask your question. Yeah. Hi, this is Martin Arnell with DNB Markets. My first question is on this discussion about efficiency, marketing efficiency. It looked like your margin was a bit more resilient in Q4 than we expected. What changed there when it comes to your efficiency initiatives? In relation to marketing or just an- Yeah, exactly. I mean, your marketing to sales was a bit lower than we expected. Yeah. No, I think coming back to the question previously that we had a bit mixed and ordinarily high marketing related to a few different things. Expekt was one, but also, you know, the ambition or the strategy to push a bit harder to get the kind of revenue back after the German hit. Of course, when we do a lot of these investments, we need to evaluate some of these channels and then bring it down to more normal levels by taking away the channels with the lowest ROI. Yeah. There are, of course. Is that a g- It's market, it's a bit market related as well, of course, you know, some shifting from one market to the other, et cetera. Would you say it's a more sustainable level moving into Q1 so far as well? Yeah. I think this is, as we say, a normal level. Long term, we hope and believe that the marketing ratio will continue to go down. As well, you know, we have a few launches this year, right? Ontario, we’re not sure yet. We intend to protect and grow our market share, and we have a strong position that we want to hold on to. We of course have the U.S., and then the Netherlands, which we are applying for a license. It will. Yeah. Which will shift a bit over time. Yeah. Of course. On the start of the year here with 9% growth in January, was that a surprise to you that you managed to be up there almost 10%? Or is it mainly an effect of Germany not really in the comps anymore? Or how should we view it? I would say it's a combination of things. First of all, it's a hard work several quarters and so on to become more scalable and more efficient as a company. Of course, the German comps are moving out of the comps a little bit, so that's also to it. We have quite good momentum in the entire organization and in our business right now, so it's a good feeling into the year. It doesn't appear like there's not any sort of one-offs in the January 9% growth number? Sorry, again. There's no one-offs, from your point of view in the January 9% growth number? One-offs? No. I mean, that's our top line, so no one-offs. How do you view the near-term outlook, Gustaf, for February, March? You know, should you be able to do 10% growth, or how should we look at that? Well, I think we have good order of magnitude. We have good momentum, but then again, February 28 days, so maybe take that into consideration a little bit. Other than that, good momentum in a lot of our markets. That's basically my answer. We shouldn't see any change of trends then, I guess. It's a good trend. Yeah. Okay. Thank you. The Netherlands or Dutch license, you hope to be able to file any day, I guess. What's your view on the Netherlands market so far, the regulated market? Are you impressed by the operators there, or what's your view on this market? Yes, correct. We are about to file. I think it was gonna be done last week or something, but there is still some small, very small things. So it's very near, filing in the Netherlands. I don't know really what to say. It's an example of actually how you should not do it, if you look at Canada as an example of how you should do it. Okay. Could you exemplify or give some more color, or is that it? Well, it's more or less that they close down the market and it becomes very terminal for all operators, and it's not really the best sort of way of regulating a market. Anyhow, they are doing it, and we're happy about that, so that's a good thing. All in all, we are looking forward for regulated markets. That's what we're aiming for. Anything on Germany that has changed, or is it still this wait and see period? It's still a wait and see period in Germany, yes. Okay. Just my final question on Sweden, where you obviously are outperforming, continue to do so. What is your success formula here? Do you expect to continue to be the number one in online casino in the coming 12 months? Yes, we do. It's, I think it's a combination of a great brand, good product, of course, and the mobile focus that we have within the group, and continuing innovation. The LeoJackpot, for instance, has been successful in the Swedish market. Also it's a maturing market now and more stable environment in Sweden. In those stable environments, LeoVegas are doing very, very well. Okay, thanks. That's all for me. Thank you. Thank you. Thank you. As a reminder, ladies and gentlemen, if you wish to ask a question now, please press star one on your telephone keypad. There are no questions from the telephone line. Presenters may proceed to take questions from the webcast. Well, there are just a few. I think we answered the majority of the questions online here, but when do you expect the process of Dutch license? And what we heard from them. Well, as I already mentioned, we are very close to doing that. We're doing it in Q1. The regulator in the Netherlands told us that it's around a six-month period of time or within a six-month period of time, they will issue the license. What about the German restrictions? Well, Germany is ongoing as well. What else? Well, we basically answered those questions already that we can see online here. Yeah, if there is no further questions, then operator, do you see anything? There are no further questions. Okay. With that, we end this session. Thanks, everyone, for listening in this morning, and have a nice weekend. Thank you. That does conclude our conference for today. Thank you for participating. You may all disconnect.